Republic of Mining

Huge [Ontario] land withdrawal catches KI off guard – by Shawn Bell (Wawatay News – March 5, 2012)

March 6, 2012

This article came from Wawatay News: http://www.wawataynews.ca/

The Ontario government says its recent land withdrawal near Kitchenuhmaykoosib Inninuwug (KI) will help avoid future disagreements like the ongoing conflict between God’s Lake Resources and KI.

The Ministry of Northern Development and Mines announced Mar. 4 that it has withdrawn 23,181 square kilometers “in the vicinity of KI” from prospecting and mine claim staking.

But KI Chief Donny Morris said the land withdrawal caught his community off guard, considering that negotiations between the First Nation and Ontario over land claims broke down months ago.

Ontario Government move surprises KI – by Carl Clutchey (Thunder Bay Chronicle-Journal – March 6, 2012)

March 6, 2012

The Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Kitchenuhmaykoosib Inninuwug First Nation Chief Donny Morris says his community needs time to ponder the province’s move to make a huge tract of land north of the reserve off-limits to mining.

“For something of this size, it’s an historical event,” Morris said Monday from Big Trout Lake, a fly-in community of 1,300 Oji-Cree located 500 kilometres north of Thunder Bay.

In a surprise announcement Sunday, Northern Development and Mines Minister Rick Bartolucci excluded from mining 23,000 square kilometres of KI traditional territory “to give clarity to the province’s mineral exploration industry and avoid future disagreements over the land in question.”

In 2009, the Ontario government paid Toronto-based exploration company Platinex $5 million, plus options for future royalties, when the company agreed to stop exploring south of the KI community.

NEWS RELEASE: Ring of Fire- Agreement at PDAC 2012

March 5, 2012

FOR IMMEDIATE RELEASE

Northern Ontario First Nations Sign East-West Corridor Collaborative Agreement in Ring of Fire.

Toronto, Ontario, March 5, 2012: – Four First Nations in Northern Ontario today signed a landmark collaboration agreement to pursue the development and operation of an East-West corridor in the Ring of Fire.

The East-West Corridor Collaborative Agreement was signed between the communities of Webequie, Neskantaga, Eabametoong and Nibinamik at the Aboriginal Forum at the Prospectors and Developers Association of Canada Convention. Other regional communities such as Mishkeegogaman have also joined the collaboration. The First Nations have been working together to formalize a community-driven strategy on regional infrastructure development. The ultimate goal is to establish a joint venture that will operate an infrastructure, transportation and service corridor for potential mining companies in the Ring of Fire.

These four identified are impacted by the potential mining developments in the Ring of fire area, and are committed to working collectively together to capitalize on the potential benefits while mitigating the potential issues.

Record streak for mining takeovers extends into 2012 [PDAC] – by Nicolas Johnson (Globe and Mail – March 5, 2012)

March 5, 2012

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

The global mining industry’s appetite for deal-making has returned after a record year for mergers gave way to a relatively quiet few months.

Glencore International PLC’s $41-billion (U.S.) offer last month to buy out Xstrata PLC has catapulted the value of transactions announced this year to almost a quarter of last year’s $184-billion. While such giant deals are rare, they can trigger moves by competitors.

Mergers and acquisitions will be a major focus as mining companies descend on Toronto this week for the Prospectors and Developers Association of Canada annual conference – a key event for the industry as it faces severe headwinds. Metals producers are desperate to combat rising costs so they can capitalize on the soaring prices of gold, silver and copper.

Dundee Securities bullish on gold, but so-so on base metals – by Dorothy Kosich (Mineweb.com – March 5, 2012)

March 5, 2012

www.mineweb.com

Gold will still continue its 11 year bull run in 2012, Dundee Securities forecasts, but the anlysts are “anything but certain” on the outlook for base metals.

RENO (MINEWEB) – Dundee Securities analysts continue to believe that the fundamentals remain in place for higher gold prices.

The outlook for base metals this year, however, is “anything but certain,” the analysts cautioned. In their annual report on junior exploration companies, Dundee views gold demand as strong “and higher prices are needed to encourage new supply.”

“Good fortune has already smiled on gold in 2012, as the U.S. Federal Reserve’s pledge on January 25 to keep interest rates low through at least 2014 has lifted prices of the yellow metal.”

“The prospect of reflation has been, and remains one of our key bullish arguments for commodity prices,” the analysts said.

“The notion of quantitative easing in the U.S. as well as pressure on the ECB (European Central Bank) to provide liquidity to banks continues.

[Northern Ontario] Cities seek share in mine tax revenues – by The Daily Press (Timmins Daily Press – March 5, 2012)

March 5, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

Municipal leaders in Northern Ontario seek a better deal when it comes to sharing the tax revenues generated by the mining industry.

A delegation from the Federation of Northern Ontario Municipalities (FONOM) met with Minister of Northern Development and Mines Rick Bartolucci recently. FONOM representatives also met with Yasir Naqvi, parliamentary assistant to the Minister of Finance to discuss key Northern issues at the Ontario Good Roads/Rural Ontario Municipal Association Conference held in Toronto.

FONOM president Al Spacek, mayor of Kapuskasing, and vice-president Tom Laughren, mayor of Timmins, made a presentation on mining revenue sharing.

“We heard the minister saying that it is this government’s priority to keep the province a prime place for mining companies to explore and have a very favourable investment climate,” Spacek said. “He’s willing to work with us, so we will continue to work on this with our municipal counterparts in the Northwest, the Northwestern Ontario Municipal Association, as well as First Nations’ organizations.

As PDAC opens miners looking forward to better times – by Euan Rocha (Mineweb.com – March 3, 2012)

March 5, 2012

www.mineweb.com

After a bit of a malaise in the second half or 2011, miners and explorers attending this year’s PDAC in Toronto are seeing positive indicators from U.S. and China boosting sentiment, although capital cost rises are an ongoing worry

TORONTO (Reuters) – Detour Gold last month sold C$277 million of equity to investors willing to bet on its promising gold project – a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlier.

Detour’s success in raising funds is one of many small signs that the malaise that gripped miners, explorers and investors in late 2011 is easing. A brighter economic outlook has brought a ray of optimism back to the global mining sector, which gathers next week in Toronto for its biggest convention of the year.

While stresses still weigh heavily on the world financial system, a batch of decent U.S. economic data and easing concerns about a slowdown in China have breathed fresh life into mining stocks that tumbled last year.

NEWS RELEASE: Ontario Addresses Mineral Exploration Concerns [KI-God’s Lake Resources conflict]

March 5, 2012

March 4, 2012 10:00 AM

McGuinty Government Takes Steps to Address Mineral Exploration Impasse

Ontario has withdrawn lands in the vicinity of Kitchenuhmaykoosib Inninuwug (KI) from prospecting and mining claim staking to give clarity to the province’s mineral exploration industry and avoid future disagreements over the land in question.

KI asserts jurisdiction over the land and has asked for a moratorium on mineral exploration and development. The Ontario Government has made several attempts to facilitate communication between KI and God’s Lake Resources (GLR), a junior mineral exploration company that holds a mining lease and mining claims in the vicinity of KI, north of Red Lake in Northwestern Ontario. The company’s existing mining lease and mining claims are not affected by the withdrawal.

The government remains committed to continuing discussions with both parties.

Optimism for commodities wanes only slightly – by Peter Koven (National Post – March 5, 2012)

March 6, 2012March 5, 2012

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

The operating environment might be rough, but the global mining industry remains optimistic that the commodity boom is going to run for years to come.

The annual Prospectors and Developers Association of Canada (PDAC) conference, the industry’s largest event, began Sunday in Toronto with a commodity outlook. A crowd of 28,000 to 30,000 people is expected to attend this year, the most ever.

The conference, which serves as a barometer for the mining industry, comes during a challenging period for most companies.

Producers are facing enormous cost escalation at their operations and development projects, while junior companies (which dominate the conference) are still struggling to raise money.

Cliff’s Natural Resources holds open house in Thunder Bay – by Jamie Smith (tbnewswatch.com – March 1, 2012)

March 4, 2012

http://www.tbnewswatch.com/

Even though developing the Ring of Fire means thousands of jobs, it has to be done the right way an official with Cliff’s Natural Resources says.

The right way means protecting the environment while still maximizing the potential of Cliff’s chromite deposits in the Far North. Cliff’s senior vice-president of global ferroalloys Bill Boor said that’s why his company held an open house in Thunder Bay on Thursday.

“(We have) a real genuine desire on our part to get out and talk to people that are close in any way to the project,” Boor said on the phone Thursday. “We want to have that two way dialogue.” Cliff’s is developing its framework for an environmental assessment for its chromite project so the more feedback it gets from people the better Boor said.

Kate Layfield is a fourth-year Lakehead University student.

Wall Street Reporter Interview with Noront CEO Wes Hanson – Wall Street Reporter (January 19, 2012)

November 3, 2015March 4, 2012

http://www.wallstreetreporter.com/

Interview Transcripts:

WSR: Good day from Wall Street. This is Juan Costello Senior Analyst at the Wall Street Reporter and joining us today is Wes Hanson the CEO for Noront Resources. The company trades on the TSX venture and their ticker symbol is NOT. Thanks for joining us today Wes.

Wes: No problem Juan. It’s a pleasure to be here again.

Juan: Great now starting off give us a brief history and overview of the company for some of our listeners that need your story.

Wes: Noront is a junior exploration company and in 2007 the management made a discovery in the Ring of Fire District of Northern Ontario. A very explaining discovery of the high grade nickel sulphide system that was discovered and that led to a significant rush into this region and eventually led to the discovery of significant deposits of chromate. Both chromate and nickel are essential components in the manufacturing of famous steel and of course the famous steel industry has grown significantly in the last decade largely due to the growth of China and India.

KI’s battle over mining exploration heads south – by Shawn Bell (Wawatay News – March 2, 2012)

March 4, 2012

This article came from Wawatay News: http://www.wawataynews.ca/

Kitchenuhmaykoosib Inninuwug First Nation (KI) is taking the fight to stop exploration on its traditional lands to Toronto. KI plans to hold a major rally in Ontario’s capital on Mar. 6 following a talk by the community’s leaders on Mar.5.

“We’re going to let the public know that this is still an issue, even though we’re way up here in the North,” KI Chief Morris said before heading to Toronto. “And to see this overwhelming support that we have.”

The rally takes place as thousands of mining company executives and government leaders from around the world gather in Toronto for the annual Prospectors and Developers Association Conference.

KI’s push into Toronto comes after Morris released a Youtube video in February announcing his First Nation’s plan to mobilize against God’s Lake Resources, a gold mining company with a stake in KI’s traditional territory.

Even amid a commodity bull market, gloom still hangs over mining industry [Don Coxe] – by Peter Koven (National Post – March 3, 2012)

March 3, 2012

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

Exactly a decade ago, Don Coxe walked to the podium at the annual BMO Capital Markets mining conference and told dubious investors that a massive bull market in commodities was about to begin. The reaction was predictable.

“Nobody would speak to me at that time, because they thought I was stark raving mad,” Mr. Coxe, BMO’s strategy advisor, says today with a laugh.

The skepticism was understandable at that point, as commodities were still in a 20-year bear market that annihilated portfolios. Mr. Coxe, however, saw that something significant was happening in the developing world, particularly China. He was also delighted to see that everyone disagreed with him.

“I did some interviews with mining people and couldn’t find anyone who believed in the business. That was a requisite. Because it meant there would be no new capital spending for a few years [leading to supply shortages],” he says.

Sudbury promoted as ‘mining leader’ – by Star Staff (Sudbury Star – March 3, 2012)

March 3, 2012

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Mayor Matichuk and senior city staff will be in Toronto next week to promote the city as a world leader in mining. It’s a message they will spread during the Prospectors and Developers Association of Canada’s International Convention, Trade Show and Investors Exchange.

The annual convention showcases more than 1,000 exhibitors and more than 27,000 guests from 120 countries focused on the evolution of the mineral and mining industry across the world. “Our community’s mining industr y is constantly evolving with new

innovations, and we are continually moving forward with market demands as well as fostering our local businesses to compete on the global stage,” Matichuk said said in a release.

“Important international conferences and events such as PDAC promote our message; the City of Greater Sudbury is a world leader in mining and the mining supply and services sector.”

[Ontario] Northern Committee passes vote – by Kyle Gennings (Timmins Daily Press – March 3, 2012)

March 3, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

First step in giving a voice to Northern Ontario

Thursday marked the turning point in history for Northern Ontario that was promised by MPP Gilles Bisson (NDP — Timmins-James Bay) earlier this week.

The motion to create a Northern Committee was passed readily at Queen’s Park via voice vote despite concerns over snags and party politics voiced by NDP House Leader Bisson.

“We’re really happy that it passed,” he said. “There was some concern that The Conservatives would be voting against the motion. “I don’t think that anyone wanted to be seen on the record as voting against it, so they allowed it to pass through voice vote.”

The voice vote allowed MPPs to vote freely on the motion without being held to task by their respective political parities.