Republic of Mining

NEWS RELEASE: Northern Superior Resources Inc. Named [Quebec] 2012 Prospector of the Year

November 27, 2012

November 22, 2012 08:00 ET

www.nsuperior.com

SUDBURY, ONTARIO–(Marketwire – Nov. 22, 2012) – Northern Superior Resources Inc. (the “Company” or “Northern Superior”) (TSX VENTURE:SUP) is pleased to announce that it has been named the 2012 “Prospector of the Year” by the Association L’Exploration Miniére du Québec (AEMQ). According to its web site, “each year the AEMQ recognizes and honors the dynamism and entrepreneurship of companies and individuals involved in the development of Quebec’s mining and exploration industry.”

Specifically, the AEMQ “Prospector of the Year” award is presented to “highlight the importance of a new discovery that produced a significant ripple effect on exploration activities with regard to both the property itself and the surrounding area” and was awarded to Northern Superior in recognition of the importance of the Croteau Est Gold discovery in the Chapais, Chibougamau and Oujé-Bougoumou regions of Quebec.

Since commencing operations on the Croteau Est property in August of 2011, Northern Superior’s exploration programs have defined and continue to expand a gold-bearing alteration corridor that extends to at least 450 m depth, is at least 1,000 m in length and 50 to 150 m in width. The alteration corridor and associated gold mineralization (75.44 g/ t over 4.80 m; 8.16 g/ t over 19.55 m, as examples) remains open along strike in both directions and at depth (see press releases March 1, June 11, October 8, November 12, November 20, 2012).

Xstrata plea for ONTC – by Ron Grech (Timmins Daily Press – November 27, 2012)

November 27, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

TIMMINS – Xstrata Copper is seeking the city’s support in ensuring freight rail service to the mine is maintained in light of the province’s plan to sell the Ontario Northland Transportation Commission.

In a presentation to Timmins council Monday, Tom Semadeni, general manager of Kidd Operations, identified the divestiture of the ONTC and its potential impact on freight rail service as a possible challenge in the future. Semadeni said city council could “help us in term of lobby efforts … to make sure they maintain service.”

He said trucking the material would be more costly to the company and more damaging to the roads. Coun. Gary Scripnick said hearing these concerns directly from mine management should be helpful in any future discussions Mayor Tom Laughren has with provincial ministers.

He said it is important for the mayor to be able to report what mining officials are telling him. Other areas of concern expressed by Semadeni included high energy costs and the limited availability of housing in Timmins.

He said Xstrata Copper has hired close to 550 in the last five years and as a result has experienced the challenges associated with the housing shortage first-hand.

[Mining] Co-op students get a head start – by Norm Tollinsky (Sudbury Mining Solutions Journal – November 2012)

November 27, 2012

Sudbury Mining Solutions Journal is a magazine that showcases the mining expertise of North Bay, Timmins and Sudbury.

Mining engineering students graduate debt-free with 20 months of experience

A co-op program for students at Laurentian University’s Bharti School of Engineering is a win-win proposition for both participating students and the mining companies that hire them.

Fourth year mining engineering students James Gagner and Ian Berdusco, for example, will graduate debt-free in April with 20 months of work experience under their belts, making them ideal candidates for mining companies looking for engineering talent.

Approximately 50 of the 457 students enrolled in the Bharti School of Engineering are accepted into the co-op program.

They do a four-month placement following the successful completion of second year and a 16-month placement after third year, following which they return to Laurentian for the fourth and final year of the program.

It takes them one year longer to get their degree, but the money they make goes a long way toward paying their tuition while the experience they gain makes them more marketable.

School of Mines adds value to mining cluster – by Dick Destefano (Sudbury Mining Solutions Journal – November 2012)

September 7, 2018November 27, 2012

Dick DeStefano is the Executive Director of Sudbury Area Mining Supply and Service Association (SAMSSA).destefan@isys.ca This column was originally published in the November 2012 issue of Sudbury Mining Solutions Journal.

October 15, 2012 was a special day for Northern Ontario and mining. On this day, Ned Goodman, CEO of Dundee Corporation, and the Goodman Family Foundation announced an historic gift to Laurentian University’s new School of Mines.

Laurentian University president Dominic Giroux also announced that the university will name the school in honour of the Goodman family. This announcement stems from early meetings I had on behalf of SAMSSA with president Giroux in the first weeks of his appointment about three years ago.

I suggested that one of the missing components of the Northern Ontario mining cluster was a comprehensive academic centre that would add value to mining and supply and service companies regionally and gradually become a global centre of all things mining.

Many internal meetings at Laurentian and public consultations with the industry led to the October 15th announcement.

I agree with Ned Goodman’s comment at the announcement when he stated, “Greater Sudbury has the best orebody and largest concentration of expertise in mining supply, products and services in the world. We want to be associated with Laurentian University because it’s undoubtedly the go-to for university for mineral exploration and mining in Canada.”

Mining brains – by David Robinson (Sudbury Mining Solutions Journal – November 2012)

November 27, 2012

Dr. David Robinson is an economist at Laurentian University in Sudbury, Canada. His column is from Sudbury Mining Solutions Journal a magazine that showcases the mining expertise of North Bay, Timmins and Sudbury. drobinson@laurentian.ca

Question: What does the mining industry have in common with the zombie apocalypse?

Answer: Mining companies and zombies both have an insatiable appetite for brains. And who supplies the brains? That is the interesting question for the mining supply sector.

An industry that depends on increasingly sophisticated geological science, ever more complex equipment, more expensive transportation systems and more elaborate management systems while trying to meet ever more convoluted environmental and safety regulations clearly needs brains.

The muscle-power going into an ounce of gold or a kilogram of nickel has gone down. The energy input per unit output has risen, which is a growing problem. And no one knows if more brainpower is invested in an ounce of gold today than in an ounce from the Klondike gold rush 115 years ago.

Calculating a brain-to-gold index would be interesting, but it isn’t necessary. Brainpower has always been an essential input for the mining industry.

Drop dogmatism on Chinese investments – by Daniel Schwanen (National Post – November 27, 2012)

November 27, 2012

The National Post is Canada’s second largest national paper.

Daniel Schwanen is associate vice-president, international and trade policy, C.D. Howe Institute.

Canada has recourse should China flout local laws and regulations

By many standards, the proposed acquisitions of Nexen Inc. by China’s state-controlled CNOOC Ltd., and of Progress Energy Resources Corp. by Petronas, owned by the Malaysian government, are a natural fit for Canada. To take advantage of its natural resources, Canada needs foreign investment. State-owned firms are big players in the global energy sector and Canada has recently rediscovered Asia as a priority economic and diplomatic area.

Yet concerns persist about these proposed acquisitions, focusing on the impact of the investments on national security, the fairness of investments by subsidized state-owned firms and their ability to run efficient businesses, and the lack of reciprocal opportunities for Canadian firms. For many, the current guidelines on how Canada might apply its “net benefit” test for approving large domestic investments by foreign state-owned enterprises, which Canada issued in late 2007, are just not up to the task.

While the concerns are understandable, they do not justify rejecting out of hand acquisitions of Canadian businesses by foreign state-owned enterprises.

We can say no to CNOOC – by Brian Lee Crowley (National Post – November 27, 2012)

November 27, 2012

The National Post is Canada’s second largest national paper.

Brian Lee Crowley is the managing director of the Macdonald-Laurier Institute, an independent non-partisan public-policy think-tank in Ottawa.

If China is angered by a no on Nexen, it will only hurt itself

In determining whether Ottawa should allow Chinese state-owned enterprise (SOE) CNOOC Ltd. to buy Canadian energy firm Nexen Inc., much hangs on one question: Is Canada in a position of weakness or strength vis-à-vis China?

This matters because so much hinges on whether Canada will be benefited or harmed by the fallout from the decision, especially should Ottawa turn down the proposed acquisition.

Proponents of the deal make two separate cases why we not only should but indeed must approve CNOOC’s bid. They argue, first, that Canada needs access to the Chinese market for our oil and gas. Second they claim that Canada needs access to Chinese capital to develop our natural resources. They then go on to argue that if we fail to get either form of access the national prosperity being generated by the West’s oil-fuelled boom is endangered.

If they are correct about the consequences of not gaining access to Chinese consumers and capital, then their case in favour of the CNOOC deal is powerfully strengthened.

High demand means world needs all of Canada’s oil: IEA – by David Ljunggren (Reuters/National Post – November 27, 2012)

November 27, 2012

The National Post is Canada’s second largest national paper.

Global demand for crude is growing so strongly that the world needs “every single drop of Canadian oil,” the International Energy Agency’s chief economist said on Monday, playing down fears that growing U.S. production could hit Canadian exports.

Fatih Birol said that even if U.S. output rises as much as the agency expects, the country would still need to import four million barrels a day and that Canada is an obvious supplier.

In its annual forecast this month, the IEA said the United States could come close to energy self-sufficiency by 2035, largely because of the boom in development of unconventional light oil resources.

Canada is the single largest supplier of energy to the United States, sending around 2 million barrels a day to its southern neighbor.

Much of the Canadian crude comes from Alberta’s oil-rich tar sands, where operating costs are higher than in regular fields, and the IEA’s forecast prompted fears that the biggest export market for the oil sands could shrink. But Birol, asked about potential risks for the oil sands if U.S. output rose, said he did not see any.

Nickel Glut Recedes as Biggest Metals Loser Rallies: Commodities – by By Agnieszka Troszkiewicz (Bloomberg.com – November 26, 2012)

November 27, 2012

http://www.bloomberg.com/

Nickel, this year’s worst-performing metal, is rallying as analysts from Standard Bank Plc to BNP Paribas SA forecast a smaller-than-expected supply glut in 2013.

Standard Bank reduced its estimate for the surplus by 17 percent on Oct. 15, citing project delays, and BNP Paribas said Nov. 12 it now expects output to match demand, after cutting its projection three times since April. Credit Suisse Group AG and Citigroup Inc. also lowered forecasts in the past two months. Nickel will average $19,000 a metric ton in the second quarter, 15 percent more than now, the median of 11 analyst estimates compiled by Bloomberg shows.

Futures fell 68 percent since reaching a record $51,800 in 2007 as higher prices spurred companies from Anglo American Plc to Vale SA to invest in new mines or expand existing ones. The surplus started in 2011 as slower growth weakened demand for stainless steel, which accounts for 65 percent of nickel consumption, and new supply emerged. Analysts are now paring supply forecasts as projects fall behind schedule. Prices rallied 4.4 percent in the past month.

“The market balance is tighter than people had initially thought,” said Leon Westgate, an analyst at Standard Bank in London. “There are a number of operations and significant amount of capacity that may run into various issues. In terms of that producer wall of nickel, it may not be quite as large or impregnable as it looks on paper.”

Quebec miners in holding pattern as province finalizes royalty, exploration rules – by Nicolas Van Praet (National Post – November 26, 2012)

November 27, 2012

The National Post is Canada’s second largest national paper.

MONTREAL — Companies mining in Quebec are expected to ship $9.6-billion worth of minerals this year, double the amount exported only five years ago. But the boom taking hold is being complicated by political uncertainty and competing visions over just how far taxpayers should go in backing companies digging valuable resources in their midst.

Quebec’s Chambers of Commerce Federation says several companies have told its officials they are currently suspending new natural resource and mining investments in the province until the Parti Québécois government finalizes a royalties regime and further clarifies exploration rules. But even established companies tapping existing mines are experiencing growing pains and finding it’s next to impossible to build definitive societal consensus for their projects.

Two particular events illustrate the difficulty miners are having in keeping Quebecers on side.

On Monday, Osisko Mining Corp., the Montreal-based firm operating Canada’s largest open-pit gold mine in Malartic near Val D’Or, confirmed that the head of the independent citizens committee monitoring the mine through to its eventual closure quit. Bernard Gauthier’s resignation came after another member of the seven-person committee said over the weekend the entire group was poised to quit on Wednesday to protest the alleged heavy-handedness of the company in their affairs.

The Weird & Wonderful World of Mining – Edition 2

November 26, 2012

http://www.miningiq.com/

Mining IQ is proud to present the second edition of The Weird and Wonderful World of Mining. This mining guide eBook contains hundreds of interesting and valuable facts to be shared and enjoyed throughout the mining industry and community.

The business of mining contributes somewhere in the region of USD $24.5 Billion globally and engages over 100 million people who work in the mining industry. So this week the eBook focuses on The Business of Mining but then also looks at the lighter side of our industry with the Weird/ Wonderful/ Random.

Did you know that all of the platinum ever mined would fit in the average size living room? Neither did we until a Mining IQ member sent in the fact!
Did you know that gold is the most ductile (easily molded or shaped) of all metals, allowing it to be drawn out into tiny wires or threads without breaking. As a result, a single ounce of gold can be drawn into a wire five miles long. Gold’s malleability is also unparalled. For example, one ounce of gold can be hammered in a 100 square foot sheet.
Did you know that coal provides 29.6% of global primary energy needs and generates 42% of the world’s electricity.
Did you know that archaeologists have unearthed copper drainpipes from as far back as 3,500 BC, that are still in good condition.

Click here to download the eBook: The Weird & Wonderful World of Mining – Edition 2 and find out a whole bunch of other strange facts!

NAN deputy grand chief says private road to Ring of Fire ‘totally wrong’ – by Shawn Bell (Wawatay News – November 26, 2012)

November 26, 2012

Northern Ontario’s First Nations Voice: http://wawataynews.ca/

Nishnawbe Aski Nation deputy grand chief says that First Nations will not allow Ontario and the companies involved in the Ring of Fire to build a private road to the development without connecting communities of the region.

Les Louttit called Ontario’s plan to subsidize a private road from Nakina to the Ring of Fire that would provide industry a way to get ore from the mines to market, but not connect to First Nations along the route, ‘totally wrong’.

“That cannot be allowed to happen and we will make sure as a political organization that we pressure the government and industry that any transportation corridor that is going to go into the Ring of Fire development will have to have open access to the communities,” Louttit told Wawatay News.

“It will be going close by Aroland, Eabametoong, Neskantaga, Marten Falls and Webequie,” he added. “It doesn’t make economic sense, it doesn’t make moral sense and it’s just not going to happen that way.”

A spokesperson with Ontario’s Ministry of Northern Development and Mines previously confirmed that the government plans to help build and operate and pay-for-use road to the Ring of Fire.

NEWS RELEASE: Koniambo Nickel completes construction of first production line and readies for first molten metal by year end Koné, 23 November 2012

November 26, 2012

Xstrata Nickel, the industrial partner in the Koniambo Nickel Project, is pleased to announce that the construction of the first production line of the smelter (Line 1) is complete. The necessary support services and operational infrastructure are undergoing pre-operational testing and commissioning. First molten metal is expected before year end and we anticipate the first metal being tapped from Line 1 in January 2013.

Ian Pearce, Chief Executive of Xstrata Nickel, said: “We are very excited about the progress being made at Koniambo, including the successful delivery of Line 1. It is a testament to our dedicated project and operation teams at Koniambo Nickel that we can now focus on moving to first production.

“Our journey to this point has been a long and complex one, but Koniambo Nickel is finally close to becoming a reality and bringing mutual benefit to all the stakeholders who have a keen interest in its success. I am proud of the role Xstrata has played in making Koniambo Nickel a reality – including continuing construction throughout the global financial crisis – and the support we have received from our many partners in New Caledonia and France.”

With the completion of Line 1, the majority of our construction resources will now be devoted to the second production line, which is forecast to be complete in the second quarter of 2013.

22 people die in China coal mine accident – by Geoff Candy (Mineweb.com – November 26, 2012)

November 26, 2012

http://www.mineweb.com/

According to government figures out in October, 1,146 people have died in 650 mining accidents so far this year in the country.

GRONINGEN (MINEWEB) – 22 people have died and one remains missing after an accident at a coal mine in China’s southwest Guizhou province.

According to media reports, a coal-gas outburst hit the Xiangshui Coal Mine in Panxian County on Saturday morning while 28 people were underground. To date, five miners have been brought to safety and rescue workers continue to search for the remaining miner.

According to Xinhua, the State Administration of Work Safety and the State Administration of Coal Mine Safety launched an investigation following the accident and, as a result, Lu Hongzhuan, chairman of the mine’s operator, Pannan Coal Exploitation, the mine’s General Manager Wu Chao and Chief Engineer Zhao Qingping were sacked.

The newswire reported that, according to a statement from a temporary office designed to oversee the rescue work and the investigation, the deputy general manager of the Guizhou Panjiang Group, which controls the coal mine, also resigned.