Republic of Mining

New emergency bid to appeal, block huge Nevada lithium mine – by Scott Sonner (Associated Press/ABC News – February 21, 2023)

February 23, 2023

https://abcnews.go.com/

RENO, Nev. – Conservationists are seeking an emergency court order to block construction of a Nevada lithium mine after a U.S. judge directed a federal agency to revisit part of its approval of the plans but allowed construction to go forward in the meantime.

Four environmental groups want U.S. District Judge Miranda Du in Reno to temporarily halt any work at a subsidiary of Lithium Americas’ mine near the Oregon border until they can appeal her ruling earlier this month to the 9th U.S. Circuit Court of Appeals.

Why has a Canadian company partnered with the tiny island of Nauru to fast-track deep-sea mining? – by Joanna Chiu (Toronto Star – February 21, 2023)

February 23, 2023

https://www.thestar.com/

Brown-black discharge gushed out of a pipe from a hulking ship, dispersing murky clouds of sediment into the international waters of the Pacific Ocean.

The scene, captured in a video that’s garnered international attention, turned a spotlight to a controversial Canadian company that is poised to become the first in the world to extract critical metals from the ocean floor — with the help of a tiny island in Micronesia.

Teck Resources to spin off coal business, end Keevil family control – by Andrew Willis (Globe and Mail – February 22, 2023)

February 23, 2023

https://www.theglobeandmail.com/

Teck Resources Ltd. launched a sweeping restructuring on Tuesday by announcing plans to spin off its coal business and end the founding Keevil family’s six-decade run at the helm of the country’s largest base metals miner.

Vancouver-based Teck is asking shareholders to approve hiving off its steelmaking coal mines in British Columbia into a new company called Elk Valley Resources Ltd. Teck valued its offspring at $11.5-billion and will list Elk Valley on the Toronto Stock Exchange. The parent will focus on increasing copper production at mines in North and South America, and be renamed Teck Metals Corp.

Tesla scales back German battery plans, won over by U.S. incentives – by Victoria Waldersee (Reuters – February 22, 2023)

February 23, 2023

https://www.reuters.com/

BERLIN, Feb 22 (Reuters) – Tesla Inc (TSLA.O) has begun assembling batteries in Germany but will focus cell production in the U.S. in light of Inflation Reduction Act incentives, the company said, making it one of the first firms to declare a strategy shift prompted by the package.

The U.S. electric-vehicle maker is also preparing to produce cell components such as electrodes, some of which will be sent from its site in Gruenheide in the state of Brandenburg, to the United States, Tesla said on Wednesday.

Ending the toxic trail of small-scale gold mining (UN Environment Programme – February 15, 2023)

February 20, 2023

https://www.unep.org/

https://www.planetgold.org/

Strapped together by tape and frayed ropes, wooden logs demarcate the mineshaft’s entrance, a hole in the ground no larger than a metre square. A young man nearby cranks a lever, kickstarting some generators. The steady hum of the machinery blends with the creaking of a pulley system, drowning out the sounds of the gentle breeze blowing through the mining site, located in Paracale, north Philippines.

A young man tied to a harness begins his descent down the pit and deep beneath the planet’s surface, his headlamp the only visible source of light. Upon reaching the bottom of the cramped mineshaft, he pulls out a small chisel and hammer and begins chipping away at the rock.

Queen’s Park provides stimulus funding in the hunt for much-needed critical minerals – by Ian Ross (Northern Ontario Business – February 16, 2023)

February 20, 2023

https://www.northernontariobusiness.com/

Ontario Junior Exploration Program offers exploration funding for junior miners

There’s a looming global crunch for high-tech metals to feed the electric vehicle industry and not enough mines currently in production to meet that increasing demand.

To incentivize more exploration in Ontario, the provincial government announced in Sault Ste. Marie that it has invested $5.8 million to help a handful of exploration companies hunt for critical metals like nickel, copper, cobalt and lithium. The funding will be delivered through the Ontario Junior Exploration Program (OJEP) as part of a special critical minerals stream, launched in 2021.

4 Predictions for the Diamond Market in 2023 and Beyond – by Michelle Graff (National Jeweler – February 15, 2023)

February 20, 2023

https://nationaljeweler.com/

Experts and Editor-in-Chief Michelle Graff share views on natural diamond prices, lab-grown supply, and diamond jewelry sales in 2023.

Much to many people’s surprise, 2021 was a banner year for diamond jewelry sales and the party did not slow down as much as expected in 2022. So, what will this year hold?

I consulted industry analyst Paul Zimnisky and De Beers’ 2022 Diamond Insight Report as well as reporting from around the trade to make predictions about diamond supply, demand and consumer behavior in 2023 and beyond.

1. Natural diamond price and supply

In the Courts: First Nation takes B.C. government to court over Brucejack mine – by Dustin Godfrey (Business In Vancouver – February 2023)

February 20, 2023

https://biv.com/

The Tsetsaut/Skii km Lax Ha Nation is taking the province to court claiming the government failed in its duty to consult with the First Nation regarding a mining company’s acquisition of a mine in its territory, and has failed to work with the mine’s new owners and the nation to continue negotiations of a benefit-sharing agreement.

Newcrest Mining Ltd. (TSX:NCM) announced in late 2021 its interest in acquiring Pretium Resources Inc. (TSX, NYSE:PVG) and the Brucejack gold mine. The First Nation, also referred to as the TSKLH Nation, had been in negotiations with Pretium regarding a benefit-sharing agreement.

Newcrest Rejects Newmont’s $17 Billion Takeover Offer – by James Fernyhough (Bloomberg News – February 15, 2023)

February 20, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Newcrest Mining Ltd. rejected an initial $17 billion takeover bid by US rival Newmont Corp., with the Australian miner’s interim CEO saying the company was “worth a lot more.”

It did offer some hope to its suitor, however, by indicating it’s prepared to provide access to its books on a non-exclusive basis. The all-shares deal would have been the largest globally this year and created the world’s biggest gold miner.

Exploitation Of Illegal Nickel Mines In Indonesia – OpEd – by Silvanah (Eurasia Review – February 19, 2023)

February 20, 2023

Home

Indonesia has abundant natural resources, especially nickel. Nickel is the raw material for making electric vehicle batteries. Electric vehicles are predicted to be low in emissions or environmentally friendly.

Developed countries are currently competing to produce electric vehicles. Indonesia is not left behind with big plans to form a company producing electric vehicle batteries. This has attracted the interest of foreign mining companies including China to enter and explore for nickel in Indonesia.

Iron ore remains the Pilbara’s sturdy trunk, but greener roots are starting to emerge – by Mark Foreman (Australian Broadcasting Corp. – February 18, 2023)

February 20, 2023

https://www.abc.net.au/

Iron ore looks set to continue its surge in 2023 but the rise of green energy is creating massive opportunities for the Pilbara. Rare earth minerals, lithium, wind and solar are just some of the emerging commodities setting the pace in one of WA’s most productive regions.

Pilbara Development Commission chief executive Terry Hill said the changing landscape was exciting for the region. “One of the really significant changes in the region of the last few years is the diversification in the range of exploration and mineral projects,” Mr Hill said. “One of the ones that is going to come through really strongly this year, and will be at the forefront of growth for the next few years is green energy.”

Teck Resources is exploring spin-out of steelmaking coal operations – by Andrew Willis (Globe and Mail – February 17, 2023)

February 20, 2023

https://www.theglobeandmail.com/

Teck Resources Ltd. is exploring a spin-out of its steelmaking coal division, or other ways to exit its largest business, as part of a strategic shift to mining metals that will power a greener economy.

Vancouver-based Teck, the country’s largest coal producer, said on Thursday it is “evaluating alternatives for its steelmaking coal business, including the possible spin-out of an interest in that business to its shareholders.” The announcement came after Bloomberg reported the company could announce a transaction as early as next week.

Hidden camera reveals false claims some retailers make during diamond sales – by Katie Pedersen, Jeremy McDonald, Katie Swyers, Rosa Marchitelli (CBC News – February 17, 2023)

February 20, 2023

https://www.cbc.ca/news/business/

While shopping undercover at some of Canada’s top jewellers, Marketplace journalists came across sales pitches filled with false claims and inconsistent diamond grading reports, all of which could lead consumers to question whether they got what they paid for.

Last year, Canadians who purchased a diamond ring spent on average just over $4,300, according to Edahn Golan Diamond Research & Data Ltd. Marketplace journalists posed as secret shoppers to capture the sales pitch on hidden camera at three of Canada’s most popular value retail jewelry chains: Peoples Jewellers, Ben Moss Jewellers, and Michael Hill, visiting three locations for each retailer in Ontario and Alberta.

Indonesia’s uncertain climb up the nickel value chain – by Kyunghoon Kim (The Interperter/Lowy Institute – February 20, 2023)

February 20, 2023

https://www.lowyinstitute.org/

Demand for is driving domestic and foreign direct investment in the country’s minerals sector. But caution is needed.

Indonesia has historically had limited success with industrial policy. That may now be changing, with recent interventionist policies targeting the nickel sector suggesting initial success in developing downstream segments of the value chain. So successful have these industrial policies been that the government is planning to target other minerals in a similar fashion, despite the objections of major trading partners.

After a period of liberalisation following the Asian financial crisis, Indonesia saw strong economic nationalism emerge again in the late 2000s. Nationalistic policies have been particularly strong in the natural resource sector.

Nevada’s vast lithium deposits offer economic opportunity, difficult decisions – by Daniel Rothberg (The Nevada Independent – February 19, 2023)

February 20, 2023

https://thenevadaindependent.com/

Nevada, as with other arid parts of the globe such as Chile and Argentina, is awash with lithium. The soft, silvery white mineral is in high demand as a key component of batteries used to power electric vehicles in the transition away from fossil fuel-based economies.

For years, state officials have positioned Nevada as the central node in the domestic lithium supply chain, a place to extract, recycle and market the metal. But the new increasing demand — how it plays out and where mining is permitted — could have major consequences for local communities, the environment, public land and the management of a critical resource: water.