An open-pit gold mine and metal mill proposed for development near Lynn Lake, Man. has received approval from the federal government, a move that a town administrator says could lead to hundreds of jobs and a much-needed economic boost.
In a news release Monday, Canada’s environment and climate change minister Steven Guilbeault said the mine and mill proposed by Alamos Gold were subject to a ‘robust federal review.’
China is poised to export a significant volume of copper in coming weeks, a relatively infrequent occurrence that underscores a tepid demand recovery in the biggest market.
At least four major smelters are planning to deliver between 23,000 and 45,000 tons of refined copper in total to London Metal Exchange depots in Asia, according to people with knowledge of the sales, who asked not to be identified because the plans are private.
Some experts say Canada and other western nations moving in the right direction on critical minerals
Like clockwork every year, mining executives, bankers, investors and politicians gather in Toronto at the largest mining conference in the world, and bemoan China’s head start in the race to build a critical mineral supply chain years before western countries caught on.
As the Prosperctors & Developers Association of Canada’s conference this week that sentiment remains with one key difference: new-found optimisim.
https://www.northernontariobusiness.com/
Vale and Queen’s Park offer up $1.6 million to tackle mining waste and advance bio-mining innovation
A new and environmentally benign form of Sudbury’s mining industry just took a great leap forward with a more than $1.6 million contribution from international nickel miner Vale and the Ontario government.
Mining Innovation, Rehabilitation, and Applied Research Corporation (MIRARCO) at Laurentian University and its research leader Dr. Nadia Mykytczuk are the recipients of this largess that will be earmarked for the organization’s bio-mining and remediation efforts in tackling mine waste.
https://www.cbc.ca/news/canada/calgary/
Green energy investment could pour into the U.S. from around the globe
U.S. President Joe Biden’s climate bill is only six months old, but its impact on the energy industry around the world continues to grow as pressure mounts on countries to offer similar subsidies toward green energy or risk losing out on valuable investment dollars.
The Inflation Reduction Act (IRA) is a multi-billion-dollar program that pledges government dollars toward developing low-carbon energy. The policy is aimed at boosting the country’s manufacturing sector and takes aim at China’s dominant position in the clean energy technology supply chain.
(Bloomberg) — As automakers seek stakes in lithium miners to lock in supplies for electric-vehicle batteries, they’re following a path already forged by their shareholders.
Take Tesla Inc., which is reportedly interested in buying Toronto-listed Sigma Lithium Corp. If Tesla succeeds, it would follow prominent funds including Manulife Financial Corp., 1832 Asset Management, Maven Securities, DZ Bank and several others that have been snapping up Sigma shares, even as they cut exposure to the electric-vehicle maker.
‘Enormously bullish on the mining sector,’ natural resources minister tells conference
The fascination with the Ring of Fire region in northern Ontario is quite evident in the country’s business pages.
Few mining zones receive more press, even though no mine yet exists in the region 500 kilometres north of Thunder Bay. Ontario Premier Doug Ford is anxious to change that, asserting a number of times in the last few years that it was time to “hop on a bulldozer” and start building roads to what have been described as one of the “most promising” critical minerals deposits in Canada.
https://www.theglobeandmail.com/
Ottawa is considering a major new round of spending on critical minerals that could help Canada become more competitive with the United States, and boost the fortunes of junior miners struggling to raise funds after the federal crackdown on Chinese investment.
As part of U.S. President Joe Biden’s US$440-billion Inflation Reduction Act, or IRA, the U.S. Department of Energy last year earmarked US$40-billion in loan guarantees for North American critical minerals companies, with some Canadian miners among the expected recipients.
Iran says it’s discovered a massive deposit of lithium — a key element in batteries for devices and electric vehicles — in one of its western provinces.
“For the first time in Iran, a lithium reserve has been discovered in Hamedan,” a mountainous province in the country’s west, Mohammad Hadi Ahmadi, an official at Iran’s Ministry of Industry, Mines and Trade, was quoted as saying on Iranian state television Saturday.
‘There is no access to critical minerals in Canada without Indigenous Peoples being at the table in a decision-making position,’ Federal Environment Minister Steven Guilbeault said
Federal Environment Minister Steven Guilbeault has agreed to scrap a draft framework for a regional assessment in the Ontario Ring of Fire region and start over, working with First Nations.
For over a decade, governments and companies have sought to mine in the remote and environmentally-sensitive area known as the Ring of Fire. Accessible only by plane, or ice road in the winter, it’s located in the James Bay Lowlands and has deposits of key minerals that some people want to mine to fuel the production of electric vehicles.
https://www.cbc.ca/news/canada/sudbury/
Prospectors & Developers Association of Canada conference is one of the largest mineral exploration events
Jeff Laferriere, mayor of Temiskaming Shores, says he’s been “overwhelmed” by his first Prospectors and Developers Association of Canada (PDAC) conference.
But it’s not just about the number of participants, Laferriere said. There’s a palpable buzz in the convention centre where industry players — PDAC estimates 30,000 people — are gathering in Toronto to discuss the mining industry, tour the latest wares and test out new tech. “It’s shocking to see the innovation that’s happening right in our backyard,” Laferriere said.
Some miners are worried Ottawa’s newfound emphasis on security could put a chill on investment
Industry Minister François-Philippe Champagne said that his sudden decision to block Chinese investments in three Canadian lithium companies last year was “well-received” by Canada’s partners and allies, as he tried to allay concerns by some miners that the move has had the unintended consequence of making the country a less desirable place to invest.
However, Champagne defended his decision, saying there is “more intersection today than ever before between national security and economic prosperity,” and that most of the world realizes that.
https://www.cbc.ca/news/canada/thunder-bay/
Plan co-developed and submitted by 2 First Nations in the area, but faces pushback from others in region
The province has approved the terms of reference for an environmental assessment (EA) on the third and final road leading to the mineral-rich Ring of Fire in northern Ontario.
The terms of reference lay out the work plan — including the scope and issues to be considered — for the EA on the Northern Road Link, a proposed two-lane, all-weather road.
Exploration spending in British Columbia reached C$740-million, surpassing the previous ten-year high of C$681-million seen in 2012, with copper being the driving force behind the record-setting year.
Conversely, the number of projects and total metres drilled decreased by 24% and 20%, respectively, from the previous year as exploration shifted toward earlier stage activities, EY’s seventh yearly British Columbia mineral and coal exploration survey has found.
HOUSTON, March 7 (Reuters) – Rio Tinto Plc (RIO.AX)(RIO.L) said it remains committed to building more support from an Indigenous group that opposes its Resolution mine project in Arizona, which could supply a quarter of America’s copper needs depending on the outcome of a court case.
Resolution is key to the Anglo-Australian mining giant’s future as the project would produce more than 40 billion pounds of copper for the green energy transition. But that copper sits below the federally owned Oak Flat Campground, a place some Apache consider home to deities.
