Republic of Mining

Guelph health tech company looks to advance a Hearst-area graphite mine – by Staff (Northern Ontario Business – February 15, 2023)

February 16, 2023

https://www.northernontariobusiness.com/

Zentek and B.C. numbered company consider partnership to develop the Albany graphite deposit

A southern Ontario healthcare solutions company is looking to spin off its high-grade graphite deposit, west of Hearst, into a separate mine development entity to advance it toward commercial production.

Guelph-based Zentek said in a Feb. 15 news release that it has signed a non-binding letter of intent with a numbered company in British Columbia to “transfer” its Albany deposit into the hands of a publicly-listed company to be registered on a Canadian stock exchange.

Russia’s Lesser-Known Intentions in Ukraine – by Olivia Lazard (Carnegie Europe – June 14, 2022)

February 16, 2023

https://carnegieeurope.eu/

Up until the last days before Russia’s invasion, the European Union did not believe that Putin was about to attack Ukraine. If the EU—an organization whose premise was based on “never again”—missed a war, what else could it be missing?

Quite a lot, as it turns out. For all the violence already unfolding in Ukraine, the war may actually be but a single fragment in a much larger puzzle that Russia has been piecing together through trial and error in the last few years.

Mine Tales: Mining district near Tombstone busy for decades – by William Ascarza (Arizona Daily Star/Tucson.com – February 12, 2023)

February 16, 2023

https://tucson.com/

The towns of Gleeson and Courtland along the old ghost town trail have an extensive history of mining operations. They are located three miles apart in the Turquoise Mining district in the southeastern part of the Dragoon Mountain Range, about 15 miles east of Tombstone.

The range itself extends northwesterly with a length of 26 miles and a width up to 12 miles. Geologic activity in the district includes faulting and igneous intrusions. Rocks include quartz monzonite, granite and felsite.

Lithium reserve found in Jammu & Kashmir’s Reasi of best quality: Official (Business Standard – February 11, 2023)

February 16, 2023

https://www.business-standard.com/

The country’s first lithium reserve, found in Jammu and Kashmir, is of the best quality, a senior government official said here on Saturday, as upbeat villagers expressed hope the discovery will bring them a bright future.

The 5.9-million ton reserve of lithium, a crucial mineral for the manufacturing of electric vehicles and solar panels, had been discovered in Reasi district by the Geological Survey of India (GSI).

How Citigroup helped lift the lid on Trafigura’s nickel nightmare – by Jack Farchy and Jonathan Browning (Bloomberg News – February 14, 2023)

February 16, 2023

https://www.bnnbloomberg.ca/

As Trafigura Group’s metal traders were partying in London at last year’s LME Week jamboree, Citigroup Inc. was taking a step that would end up shaking their world.

Until late October, the US bank had been helping to finance Trafigura’s nickel trades with companies linked to Indian businessman Prateek Gupta — deals which Trafigura now says were part of a “systematic fraud” against it that could cost more than half a billion dollars.

Agnico Eagle reports record gold production in 2022; net income increases to $670 million – by Vladimir Basov (Kitco News – February 16, 2023)

February 16, 2023

https://www.kitco.com/

(Kitco News) – Agnico Eagle (NYSE: AEM) (TSX: AEM), one of the top global gold miners, today announced record annual gold production and operating cash flow resulting from solid operational performance across the recently integrated asset portfolio.

In a statement, the company said that payable gold production in 2022 was 3,135,007 ounces (2021: 2,086,405 ounces) at production costs per ounce of $843, total cash costs per ounce of $793 and AISC per ounce of $1,109.

Aurania Resources searches for Ecuador’s Lost City of gold. – by Robert Simpson (NXTIME.com – February 14, 2023)

February 16, 2023

https://www.nxtmine.com/

Many exploration geologists would call it quits after 40-years scouring for gold in 19 countries, finding, and then selling a gold discovery for C$1.2 billion, receiving the Thayer Lindsley International Discovery Award and the Mining Man of the Year.

But quitting is not in books for Dr. Keith Barron who’s is at the helm of Aurania Resources Ltd. [TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q] stalking what he believes could be the next world-class discovery in Ecuador.

B2Gold takeover sidelines Sabina’s Chinese shareholder – by Andrew Willis (Globe and Mail – February 15, 2023)

February 16, 2023

https://www.theglobeandmail.com/

B2Gold Corp.’s plan to acquire a project in Nunavut for $1.1-billion is blocking expansion plans at one of China’s largest gold producers, the latest in a series of Canadian setbacks for Chinese resources companies.

Vancouver-based B2Gold launched a friendly takeover bid for Sabina Gold & Silver Corp. on Monday aimed at winning control of properties 520 kilometres northeast of Yellowknife that contain some of the world’s highest-grade undeveloped gold projects. Sabina, also based in Vancouver, forecasts its first mine will open in 2025, at a cost of $750-million, and produce gold for 15 years.

Sask. ‘well-positioned’ to fill resource gaps left by war, sanctions on Russia: economic experts – by Dayne Patterson (CBC News Saskatoon – February 14, 2023)

February 16, 2023

https://www.cbc.ca/news/canada/saskatoon/

Cameco signs uranium deal with Ukraine worth billions

Russia’s invasion of Ukraine has led to significant gains for Saskatchewan’s resource-based companies, industry experts say.

Cameco Corp., a Saskatoon-based company, announced last week that it has agreed to a multi-billion-dollar contract with SE NNEGC Energoatom — Ukraine’s state-owned nuclear energy utility — to meet Ukraine’s full nuclear needs from 2024 to 2035.

African Mining Indaba unlocks industry investment potential (Mining Weekly – February 13, 2023)

February 16, 2023

https://www.miningweekly.com/

The 2023 African Mining Indaba launched this week in Cape Town, drawing mining sector heavyweights from across the country and the globe. Promoting international collaboration and showcasing Africa’s continued potential in the mining sector, the theme for this year’s event is “Unlocking African Mining Investment: Stability, Security and Supply”.

Mining Indaba senior manager for communication strategy, Laura Cornish said that “when industry and government are actually able to come together and explore collaborative opportunities, it fosters an alignment of ideas and that decreases or actually lessens the barriers to alignment.”

Teck is said to plan coal spinoff to focus on metals – by Thomas Biesheuvel, Dinesh Nair and Jacob Lorinc (Bloomberg News – February 16, 2023)

February 16, 2023

https://www.bnnbloomberg.ca

Teck Resources Ltd. is planning to separate its multibillion-dollar steelmaking coal business to focus more on industrial metals, according to people familiar with the matter.

The Canadian miner is expected to make an announcement on the spinoff as early as next week, the people said, asking not to be identified as the matter is private. Deliberations are ongoing and no final decision has been made, the people said.

Barrick Gold CEO blasts rivals for chasing major mergers — while grappling with his own US$1.6-billion writedown – by Tim Kiladze (Globe and Mail – February 16, 2023)

February 16, 2023

https://www.theglobeandmail.com/

Barrick Gold Corp. CEO Mark Bristow cannot believe rival miners are contemplating expensive mergers and acquisitions all over again, after the industry suffered through tens of billions of dollars’ worth of M&A writedowns when the last commodity supercycle crashed.

“The mining industry generally are world champions in investing in the peaks, and going bust in the troughs,” he said in an interview. Barrick was one of the worst-hit miners when the last supercycle crashed a decade ago, writing down US$20.7-billion between 2013 and 2015 under previous leadership.

Queen Consort Camilla will wear a recycled crown, without cursed diamond – by William Booth (Washington Post – February 14, 2023)

February 16, 2023

https://www.washingtonpost.com/

LONDON — Camilla, the Queen Consort, will wear a recycled crown at the coronation — and not the one showcasing the fabled Koh-i-Noor diamond, one of the world’s largest and most controversial gems, said by folklore to be cursed and by India to have been purloined.

When Camilla is crowned alongside her husband, the new King Charles III, at Westminster Abbey on May 6, she will wear the headpiece worn by Queen Mary at the 1911 coronation, Buckingham Palace said Tuesday.

Another ASX-listed lithium explorer is poised to roll the dice in Canada’s battery ecosystem – by Josh Chiat (Stockhead.com – January 27, 2023)

February 16, 2023

https://stockhead.com.au/

The new CEO of ASX lithium hopeful Battery Age Minerals (ASX:BM8) Gerard O’Donovan has seen it all since he first stepped into lithium in 2015, eventually becoming the project manager on the concentrator at Pilbara Minerals’ (ASX:PLS) Pilgangoora mine.

From there he saw the downturn as the new supply brought on by WA miners like Pilbara flooded the market, before leaving to work on Rio’s Winu’s copper-gold discovery, and returned to oversee the rebuild of the Ngangaju plant at Pilgangoora, acquired from PLS’ collapsed neighbour Altura, as the lithium market rose like a phoenix to new heights.

Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure – by Divya Rajagopal and Helen Reid (Reuters – February 15, 2023)

February 16, 2023

https://www.reuters.com/

Feb 15 (Reuters) – Canada’s Barrick Gold Corp (ABX.TO), would be open to taking over Newmont’s (NEM.N) stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said on Wednesday, after Newmont’s $16.9 billion bid for Newcrest (NCM.AX) ramped up pressure on gold miners to do deals.

Bristow though distanced himself from rival Newmont’s M&A push on Wednesday and highlighted Barrick’s plan to grow through exploration rather than acquisitions. Shares of Barrick Gold were trading 4% down at the Toronto Stock Exchange.