Republic of Mining

Rob McEwen still predicting $5,000 gold – by Dorothy Kosich (Mineweb.com – December 15, 2011)

December 17, 2011

http://www.mineweb.com/

Bullish as ever on gold, Rob McEwen foresees a tough road ahead for mining explorationists and mining developers, who fail to take into account the needs of a non-mining investment community.

RENO – As gold bugs get discouraged in the wake of year-end sell offs, über precious metals mining entrepreneur Rob McEwen still is firmly bullish on gold in the long run and stands pat on his $5,000 per ounce gold price prediction.

In a talk to the Geological Society of Nevada Wednesday in Reno, McEwen urged the audience to “step out of line once in a while” and constantly question fundamental assumptions about geology and discoveries.

During his address, McEwen recalled his own struggles with his senior geologists and the mining analysts who assumed that Goldcorp’s 50-year-old mine in Red Lake, Ontario, was played out. The former mutual fund manager had no mining expertise, but had emerged as Goldcorp’s majority owner.

Porketta bingo is Sudbury’s delicious passion – by Jennifer Bain (Toronto star – December 17, 2011)

December 17, 2011

The Toronto Star, has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

SUDBURY—Stompin’ Tom Connors should come back and write a song about a Sudbury Saturday afternoon. This time it won’t be about booze and bingo, it’ll be about the Beef ‘n Bird tavern where they play cards for pork.

The tavern’s air is so thick with slow-roasted pork lavishly spiced with dill, garlic, salt and cracked black pepper that you can’t smell all the pitchers of Molson and Labatt.

Hockey hero Jerry Toppazzini has five televisions tuned to the NHL game, but everyone’s watching a roasted pork shoulder ooze its juices over a wooden cutting board on a table on the dance floor.

Four identical bronzed beauties, busting out from butcher’s twine nooses, stay warm in the kitchen. The only way to get a mouthful of crackling-encased porketta — roasted eight hours this morning at Tarini Brothers Meat Market and delivered hot — is to win one.

The Rock’s hard place: Labour shortage looms in Newfoundland and Labrador – by Shawn McCarthy (Globe and Mail – December 17, 2011)

December 17, 2011

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.

LONG HARBOUR, NFLD.— Rinaldo Stefan has a tough challenge as he manages construction of Vale SA’s sprawling, $3-billion nickel processor on Placentia Bay: finding enough skilled workers to complete the job on time and on budget.

Mr. Stefan must find 1,500 welders, electricians, plumbers and other workers by next summer, on top of the 2,000 already on the job at the site. But due to a shortage of available skilled tradespeople in Newfoundland and Labrador, Mr. Stefan is now in a mad scramble to fill the positions, placing advertisements across Atlantic Canada to entice qualified workers.

“We are working hard to find the people we’ll need,” said the native of Romania, who has lived around the world working as a construction project manager for Vale, the global mining giant. “For the moment, we are looking in Canada, but the contingency plan will be to go offshore to find people.”

Newfoundland and Labrador is in the midst of an unprecedented energy and resources boom that is straining the province’s ability to keep up. Finding enough workers to complete some $43-billion worth of major projects under way and planned is proving to be a monumental challenge.

A Christmas wish list for our many Attawapiskats – by Patricia Pearson (Globe and Mail – December 17, 2011)

December 17, 2011

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.

Patricia Pearson is a journalist and an adviser to the North-South Partnership for Children, a coalition of NGOs, private companies, universities and individuals working with Ojibway and Cree communities.

They may be closer to the North Pole, but the aboriginal people of Northern Ontario have a much harder time grabbing Santa’s attention, apparently, than those of us in the South.

It’s not that they’re being unrealistically desirous of swimming pools and ponies. On the contrary, their wish lists tend to be almost heartbreakingly humble. The children of Pikangikum First Nation, an Ojibway reserve a few hundred kilometres north of Thunder Bay, told youth-engagement workers for the North-South Partnership for Children that they longed for running tap water.

Can they garner our goodwill and understanding? That would be on their wish list. So would a desire for simple and practical help.

‘Dead capital’ killing reserves – by Michel Kelly-Gagnon, Special to QMI Agency (Sudbury Star – December 16, 2011)

December 17, 2011

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

Michel Kelly-Gagnon is president of Montreal Economic Institute ( www.iedm.org)

Several years ago, I was asked by a journalist to explain why people in Third World countries were poor while we were rich. She had never heard any other explanation than the Marxist claim that those poor nations were being exploited and deprived of their wealth by evil and greedy multinationals.

I told her about the ground-breaking research done by famed Peruvian economist Hernando de Soto. He showed convincingly how their own governments systematically prevented the populace from accumulating capital and creating wealth.

When it takes months of paperwork and it costs a small fortune in bribes to simply register a small business, when everything you possess can be taken away because property rights are not recognized or enforced, it’s awfully difficult for entrepreneurship to flourish. De Soto estimated there exists at least $9.3 trillion US in what’s termed “dead capital,” untitled assets held by the world’s poor.

Why Ian Delaney, the Smiling Barracuda of Bay Street, is moving on – by Jacquie Mcnish (Globe and Mail – December 17, 2011)

December 17, 2011

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.

TORONTO— Weeks away from ending a 21-year run at the helm of Sherritt International Corp., Ian Delaney has lost none of the bluster that defined his tumultuous reign at the mining conglomerate.

“I’m not retiring; I’m firing myself,” he says, flashing the toothy grin that years ago earned him the nickname, the Smiling Barracuda of Bay Street.

In January, Mr. Delaney, 68, will hand the reins to successor David Pathe, saying it’s time. “One of the disadvantages about getting old is you get too thoughtful. We need younger people who have higher energy levels,” Mr. Delaney says.

Still, talking to the chief executive officer over a simple lunch of baked chicken and steamed vegetables at Sheritt’s spartan offices in Toronto’s Rosedale neighbourhood, the Bay Street legend sounds more restless than tired. “The intensity is gone,” he says, poking at a steamed vegetable. “I can no longer flip the company on its ear every 18 months with a deal.”

Northern reserves have been separated from their resources – by Stephen Hume (Vancouver Sun – December 16, 2011)

December 16, 2011

The Vancouver Sun, a broadsheet daily paper first published in 1912, has the largest circulation in the province of British Columbia.

A dominant motif in the Canadian discourse regarding first nations is that reserve communities, particularly those in remote areas, are economically unviable.

People should move from communities such as Attawapiskat to where they can get a job and become economically self-reliant like the rest of us, the argument commonly goes.

Attawapiskat is now the object of blame-casting by a federal government that is itself responsible for capacity-building, financial oversight and adequate funding of infrastructure and services in first-nations communities. Canada assumed this responsibility when it unilaterally appropriated lands formerly occupied by the inhabitants of many such communities.

Let’s be clear about what reserves are. They are a government invention. Reserves were created by government to concentrate, for administrative purposes, peoples who roamed those landscapes and exploited their resources.

NEWS RELEASE: Leaders in [British Columbia’s] Mineral Exploration and Mine Development to Be Recognized at January 25 Gala

December 16, 2011

Vancouver, B.C. — December 14, 2011 — The Association for Mineral Exploration British Columbia (AME BC) is pleased to announce the 2011 recipients of its annual awards presented to individuals or teams for significant contributions to the mineral exploration industry in British Columbia and Western Canada.

“We are pleased to honour the diverse achievements of this year’s recipients,” said Mona Forster, AME BC’s Chairperson. “It is satisfying to see the traditions of discovery, development and dedication carried forward as we prepare to celebrate 100 years as an industry association.”

AME BC’s awards are named in honour of industry leaders who made transformative contributions to mineral exploration and development and to the progress of AME BC through advocacy and service. These awards are presented annually at Mineral Exploration Roundup, the world’s premier mineral exploration conference.

Keystone delay costs $100B yearly – by Sheldon Alberts (National Post – December 16, 2011)

December 16, 2011

The Toronto Star, has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

The Obama administration’s ongoing delay approving the Keystone XL pipeline is a “tragedy” that is costing the North American economy thousands of jobs and up to $100 billion a year in economic benefit, TransCanada Corp.’s chief executive said Thursday.

“That’s the kind of economic stimulus that gets generated. I don’t think we can afford to continue to delay things like that,” TransCanada president and CEO Russ Girling said in an interview.

But even as he noted Keystone XL has undergone “the most rigorous review of a pipeline ever built anywhere in North America,” Girling told Postmedia News he wants no part of the current fight in Congress over speeding up a decision on his company’s $7 billion oilsands project.

Despite its initial disappointment with a State Department last month that delayed a ruling on a permit for Keystone XL until early 2013, Girling said TransCanada is comfortable working within the new timeline.

Algonquins in West Quebec prepare to launch biggest land claim in Canada’s history – by Mohammed Adam (Ottawa Citizen – December 11, 2011)

December 16, 2011

http://www.ottawacitizen.com/index.html

Even larger than Nunavut claim, it includes lands now held by Mohawks

A group of Algonquins in West Quebec is preparing to launch what could be the largest land claim in Canada’s history — for a swath of territory covering 650,000 square kilometres across Eastern Ontario and West Quebec.

Stretching from Sault Ste. Marie and Cochrane in Northern Ontario through much of Eastern Ontario, including Ottawa, the territory cuts across West Quebec to Montreal, and all the way to the confluence of the Saint-Maurice and St. Lawrence rivers at Trois-Rivières. About two-thirds of the land is in Quebec.

Gilbert Whiteduck, chief of the Algonquins of Maniwaki known as the Kitigan Zibi, says the process will begin soon with the presentation of the territorial map to Quebec Premier Jean Charest to underline the claim. Whiteduck says the map and accompanying documents were presented to the federal aboriginal affairs minister earlier this year, and the group is now seeking a meeting with Charest to do the same.

How first nations can own their future – by Tom Flanagan (Globe and Mail – December 16, 2011)

December 16, 2011

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.

Tom Flanagan is a professor of political science at the University of Calgary and co-author of Beyond the Indian Act: Restoring Aboriginal Property Rights.

Reports of people living in tents and shacks at Attawapiskat evoke comparisons with the Third World, with people living in the shantytowns of South Africa and the barrios of Mexico. The comparison is apt, because we now know a lot about how people in the Third World have elevated themselves out of extreme poverty.

Stable government is essential. Failed states, such as Somalia and the Democratic Republic of the Congo, produce colossal misery. But it must be the right kind of government. Regimes that arbitrarily violate the rule of law, such as Robert Mugabe’s Zimbabwe, or concentrate all property rights in the state, such as China under Mao, produce poverty on a mass scale. Redistribution through foreign aid also does not work. Countries that have received the most foreign aid, such as Tanzania under Julius Nyerere, have performed poorly.

For [Ontario’s] Dwight Duncan, grim warning is a blessing in disguise – by Adam Radwanski (Globe and Mail – December 16, 2011)

December 16, 2011

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.

One of the world’s leading credit-rating agencies has provided the most urgent warning to date of the perilous financial condition of Canada’s largest province. But Moody’s Investors Services has also done a big favour to the man in charge of that province’s books.

Ontario Finance Minister Dwight Duncan has been struggling to persuade both his fellow Liberals and the general public that it’s time for some blood on the floor. And now that Moody’s has changed its outlook on the province from “stable” to negative,” he should have an easier time finding a receptive audience.

While Ontario has for the time being maintained its credit rating of Aa1, the agency warned that an inability to tackle debt and deficit problems could lead to a downgrade. That could both dissuade investment in the province’s already struggling economy and add to the borrowing costs of a government currently $16-billion in the hole – conjuring images of the turmoil that has recently engulfed Europe.

Moody’s warns Ontario its credit rating is at risk – by Karen Howlett and Tara Perkins (Globe and Mail – December 16, 2011)

December 16, 2011

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.

An influential credit rating agency has put Ontario on notice that it could knock down its rating if it fails to get its fiscal house in order, ratcheting up pressure for the province to take more aggressive action to rein in spending.

Moody’s Investors Service warned on Thursday that it might lower the rating if the province doesn’t take serious steps in the next budget to deal with its multibillion-dollar deficit.

Ontario’s struggles are crucial for the country because its economy is larger than that of many countries, including Sweden, Poland and Belgium, and accounts for about 40 per cent of the national economy, with a gross domestic product of $612-billion last year.

However, the province has a $16-billion deficit and a rate of growth that is slower than that of some other provinces, which is makes it difficult to find ways to balance the books.