Republic of Mining

MPP [Gilles Bisson] says swap with feds would help First Nations – by Ron Grech (Timmins Daily Press – February 3, 2012)

February 3, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

Growing dissatisfaction with Ottawa’s management of schools on First Nations has spurred growing support for the province taking over the responsibility, says MPP Gilles Bisson (NDP — Timmins-James Bay).

“When it comes to education (on reserves), the current federal education system is a complete failure,” said Bisson, a long-time advocate for the idea. “Kids who finish Grade 12 (on First Nations) are at a level that is three to four years behind their counterparts outside of the reserve system.

“When I first started raising this issue, most people on reserve would have disagreed with me. Now, I would say there is a majority of people who are saying this is not a bad idea.”

Bisson said he has been sharing his thoughts on the issues with chiefs, band council members and First Nation education authorities throughout the region.

Glencore in talks to buy Xstrata in blockbuster deal – by Clara Ferreira-Marques and Victoria Howley, Reuters (Sudbury Star – February 3, 2012)

February 3, 2012

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

LONDON — Commodities trader Glencore is in talks to buy mining group Xstrata in an all-share transaction that could create a combined group worth more than 50 billion pounds (US$79 billion), shaking up the industry with its biggest deal to date.

Glencore, the world’s largest diversified commodities trader, already owns 34% of Xstrata and a tie-up between the two — a deal which would trump Rio Tinto’s $38 billion acquisition of Alcan in 2007 — has long been expected, as Glencore aims to add more mines to its trading clout.

“We’ve always had the belief these two companies should be together,” Glencore Chief Executive Ivan Glasenberg told a financial conference in Moscow. Xstrata owns Xstrata Nickel, which in Sudbury employs about 1,000 people who work at Nickel Rim South mine, Fraser Mine, a mill and a smelter.

[Sudbury Vale] Workers back after fatality – by Carol Mulligan (Sudbury Star – February 3, 2012)

February 3, 2012

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

As a memorial mass is being said today for a veteran miner killed on the job, crews will start returning to five Vale mines where production was suspended after the fatality.

Stephen Perry, 47, died Sunday afternoon after being struck by rock while working on a piece of loading equipment at the 4,215-foot level of the main ore body at Coleman Mine in Levack. Hundreds of people, including about 45 family members from his native Newfoundland, were expected to attend the 10 a.m. service.

About 1,550 production and maintenance workers have been off the job, with pay, since Perry was killed. While some will start returning to work, the focus will remain on safety and not production, said Vale spokeswoman Angie Robson.

Returning workers will be “focused on tasks associated with safety and risk management, and not production-related work,” said Robson. “There is still no timeline on when our mines will return to production.”

Canadian goldbug stakes his name on McEwen Mining – by Pav Jordan (Reuters – January 24, 2012)

February 3, 2012

This article is from: http://ca.reuters.com/

TORONTO (Reuters) – Rob McEwen, the Canadian investor who founded the world’s second-largest gold producer, is putting his name on the line with his latest precious-metal venture, aiming to build his McEwen Mining into an S&P 500 company within a few years.

McEwen’s new investment vehicle is a midtier gold and silver miner formed through the combination of two other companies he leads, U.S. Gold Corp UXG.TO and Minera Andes MAI.TO.

U.S. Gold acquired Minera Andes in an all-stock deal announced in June. The enlarged company, now called McEwen Mining, is due to list in Toronto and New York on Friday with a market capitalization of some $1.3 billion.

McEwen, who helped turn Goldcorp into an industry powerhouse in the 1990s before cutting ties, has set a goal of nearly quadrupling the value of his new company to $5 billion by 2015.

NEWS RELEASE: McEwen Mining: US Gold and Minera Andes Business Combination Completed

February 3, 2012

TORONTO, ONTARIO–(Marketwire – Jan. 24, 2012) – McEwen Mining Inc. (“McEwen Mining”) is pleased to announce that the previously announced business combination (the “Combination”), pursuant to which US Gold Corporation acquired Minera Andes Inc. and was renamed McEwen Mining, has been successfully completed and closed today. The Combination was carried out by way of a plan of arrangement under the Business Corporations Act (Alberta), which was approved by the shareholders of both US Gold and Minera Andes on January 19, 2012 and the Court of Queen’s Bench of Alberta on January 20, 2012.

Shares of McEwen Mining will commence trading on the NYSE and the TSX, subject to final exchange approvals, under the symbol “MUX” on Friday January 27, 2012. Holders of Minera Andes shares will receive 0.45 of an exchangeable share of McEwen Mining – Minera Andes Acquisition Corp. for each one (1) Minera Andes share held. These exchangeable shares of McEwen Mining – Minera Andes Acquisition Corp., will also start trading on the TSX on January 27, 2012 under the symbol “MAQ”. The exchangeable shares of McEwen Mining – Minera Andes Acquisition Corp. are convertible on a one-for-one basis at any time into shares of McEwen Mining. McEwen Mining will have an aggregate of 267,084,203 shares of common stock outstanding and issuable upon the exchange of exchangeable shares.

Congolese citizens will appeal to Supreme Court in suit against Canadian mining – by Sidhartha Banerjee (Winnipeg Free Press – February 2, 2012)

February 2, 2012

This ariticle came from: http://www.winnipegfreepress.com/

The Canadian Press

MONTREAL – A coalition of human-rights groups say they will make a last-ditch plea to the Supreme Court of Canada in an effort to sue a Canadian mining company on behalf of the victims of a massacre in Congo.

The Canadian Association Against Impunity, a coalition of human-rights groups and non-governmental organizations acting on behalf of Congolese citizens, says it’s imperative that those people have access to justice in Canada. Quebec’s Court of Appeal last week overturned a lower-court ruling from April 2011 that had paved the way for a civil suit to be heard in Canada.

In their claim, the groups had argued that Anvil Mining Limited (TSX:AVM) provided logistical support to the Congolese military as it moved to crush a rebel uprising in 2004.

Another death at Vale’s Sudbury mines – Editorial (Northern Miner – February 6-12, 2012)

February 2, 2012

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

The month of January closed out with Vale having temporarily halted all underground mining at its five nickel mines in Sudbury, Ont., following the death of a miner at the Coleman mine on Jan. 29.

Miner Stephen Perry, 47, was working on the 4,215-ft. level when he was struck by “what appears to be a displacement of material or rock from the development face in the main orebody,” commented Kelly Strong, Vale’s North Atlantic vice-president of mining and milling, in an early Jan. 30 news conference.

Perry was brought to surface where he was pronounced dead by medical personnel, said Strong, who extended his condolences to the miner’s family and friends. He had been with the company for 16 years. This is the fourth fatality in seven months at Vale’s Canadian operations, and the third death at the company’s Sudbury mines.

China enhances position as world No. 1 gold producer – but where’s it all going? – by Lawrence Williams (Mineweb.com – February 1, 2012)

February 2, 2012

This article is from: www.mineweb.com

China’s gold output rose again in 2011 confirming its position as global No. 1 producer, but is it surreptitiously taking all its domestic production into its reserves?

LONDON – As had been expected, China, already the world No. 1 gold producer, saw its output rise again this year. The country produced a record 360.96 tonnes of the yellow metal in 2011, a 5.9% increase, making it the world’s top gold producer for a fifth consecutive year, according to the China Gold Association.

Meanwhile, the country has been importing record amounts of gold as well with the volumes coming in through Hong Kong, which are officially reported figures, climbing to over 100 tonnes in November – and by all accounts gold purchasing in China has been booming since then, so imports are likely to have remained at this kind of level in December and January as well. Estimates have suggested that China’s total gold imports for 2011 will have been some 490 tonnes – double that of 2010, but this may well be an under-estimate, possibly a substantial one.

Xstrata confirms Glencore merger of equals talks – by Elisabeth Behrmann and Jesse Riseborough (Mineweb.com – February 2, 2012)

February 2, 2012

This article is from: www.mineweb.com

In a statement issued this morning, and subsequently confirmed by Glencore, Xstrata said the commodities trader has made an approach about an all-share offer for “a merger of equals.”

(Bloomberg) – Glencore International Plc, the world’s largest publicly traded commodities supplier, is in talks to buy the shares in Xstrata Plc that it doesn’t already own to add coal, copper and nickel mines from Africa to Asia.

Glencore made an approach about an all-share offer for “a merger of equals,” Zug, Switzerland-based Xstrata said today in a statement to the London stock exchange. Glencore holds 34 percent and the rest of the company is valued at 21.9 billion pounds ($35 billion) based on yesterday’s closing price. Glencore said in a statement there’s no certainty of an offer.

Joining Xstrata with Glencore, located two miles away in Baar, would reunite two groups that separated a decade ago when Xstrata bought Glencore’s Australian and South African coal mines for $2.5 billion and went public in London. The combined company may be valued at about 52 billion pounds after excluding Glencore’s stake in Xstrata.

Vale, [Sudbury] union agree to work together – by Carol Mulligan (Sudbury Star – February 2, 2012)

February 2, 2012

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

United Steelworkers Local 6500 and Vale Ltd. have agreed to conduct a joint investigation into the death of veteran miner Stephen Perry at Coleman Mine on Sunday.

Six people — three from the company and three from the union — will meet Thursday to begin work on the investigation into the fatal accident.

The shutdown at Vale’s five Sudbury mines will continue so the focus remains squarely on safety, and not on production, said Angie Robson. Local 6500 president Rick Bertrand said he was happy the two sides agreed to work together.

“Hopefully, things will be much better here on in,” in terms of both safety and labour relations, said Bertrand.

Mine production was halted Sunday after Perry, 47, was killed while operating a loader at the 4,215-foot level of the Coleman shaft of the main order body at mine in Levack.

Co-operative [industry/First Nations]approach to mining venture – (Timmins Daily Press – February 2, 2012)

February 2, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

Company, two First Nations sign memorandum of understanding

An agreement has been reached between a mining firm and two First Nations over mineral rights to about 60,000 hectares of land. Ring of Fire Resources Inc. has entered into a memorandum of understanding (MOU) with the Matachewan and Mattagami First Nations with respect to its mineral exploration activities in 10 townships just north of Timmins.

The memorandum sets out the provisions of a co-operative approach to developing the Ring of Fire Inc. interests within the territorial homelands of the two First Nations. The agreement provides for business and employment opportunities that encourage First Nation participation in the mining industry.

The parties have also committed to negotiating an Impact and Benefits Agreement should the project warrant a mining operation.

Hemlo Mines creates opportunities for First Nations students

February 1, 2012

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario Mining Association member Barrick Hemlo Mines is providing opportunities for residents of two nearby First Nations, Pic River and Pic Mobert, in Northwestern Ontario. In 2009, the original 1992 agreement between Hemlo and these First Nations was broadened. It creates a framework to train First Nations people in skills for present and future mining employment, to support business development and to include involvement in environmental stewardship programs.

“The agreement helps build capacity in First Nation communities to ensure that they benefit from mining,” said Roger Souckey, Superintendent of Employee Relations at Hemlo Mines. “About 50 First Nations people work at Hemlo Mines, or about 10% of the workforce. The mine is a benefit to the area.”

The Hemlo Operations of Barrick include the Williams and David Bell gold mines. The mines purchased goods and services worth $35 million in Ontario in 2010 and $147 million in Canada. In 2010, Hemlo Mines paid taxes and royalties of $8 million and contributed a further $800,000 in a variety of donations to local communities.

Joint [Vale/union] investigation preferable in accidents – Editorial by Brian MacLeod (Sudbury Star – February 1, 2012)

February 1, 2012

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

The tragedy of death underground has revisited Sudbury in a manner that leaves all of us asking how this could happen again at a company that has more than 100 years of experience in mining.

Stephen Perry, 47, a 16-year miner at Vale, died at the 4,215-foot level at Coleman Mine in Levack on Sunday after he was struck by loose rock while he was working at a development heading.

The incident happened just days after Vale officials presented their findings about the deaths in June of two miners, Jason Chenier and Jordan Fram, after they were overcome by 350 tonnes of muck and sand while they were working at the 3,000-foot level of Stobie Mine.

Vale has suspended all five of its underground mining operations, affecting more than 1,500 workers, in order to come up with plans to ensure a safe working environment.

Mass for killed [Vale Sudbury] miner set for Friday – by Carol Mulligan (Sudbury Star – February 1, 2012)

February 1, 2012

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

A memorial mass will be held Friday at 10 a.m. at Christ the King Church for Stephen Perry, who was killed Sunday afternoon on the job at Coleman Mine in Levack.

Perry was from Corner Brook, Nfld., but had worked with Inco and Vale for 16 years. Vale vice-president Kelly Strong called Perry a skilled and experienced miner who was respected by his colleagues. Family in Newfoundland said he was a kind and giving man, who would do anything to help someone in need.

Perry is survived by a daughter and several siblings.

Vale suspended operations at all five Sudbury mines after Perry was killed working on a piece of machinery to load blasting equipment to open up the 4,215-foot heading off the Coleman shaft in the main ore body.

The Ontario Ministry of Labour and Greater Sudbury Police Service have been at the site beginning their investigations. Vale and the union representing Perry, United Steelworkers Local 6500, will also conduct investigations.