Republic of Mining

World Population hits 8 billion, creating many challeges – by Dan Ikpoyi and Chinedu Asadu (Associated Press – November 16, 2022)

November 16, 2022

LAGOS, Nigeria (AP) — The world’s population will likely hit an estimated 8 billion people on Tuesday, according to a United Nations projection, with much of the growth coming from developing nations in Africa.

Among them is Nigeria, where resources are already stretched to the limit. More than 15 million people in Lagos compete for everything from electricity to light their homes to spots on crowded buses, often for two-hour commutes each way in this sprawling megacity. Some Nigerian children set off for school as early as 5 a.m.

Canada’s mining industry is officially in the clutches of USA and China – by Manu Gupta (TFI Global – November 14, 2022)

November 16, 2022

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Mobile phones, cameras, computers, aircraft, LEDs, fighter jets, tanks, and satellite communications systems. All these products need one important ingredient. To function, they are all dependent on rare-earth minerals. And one might easily grasp that anyone in possession of resources that are so crucial, has a clear geopolitical edge.

History tells us that there has always been a race to control valuable resources, and a power struggle over these rare earth minerals is unavoidable in the future. And trust us when we say, Canada will be the centre of this colossal geopolitical struggle.

Battery storage tops list for climate tech investors: ESG survey – by Natasha White and Lisa Pham (Bloomberg News – November 15, 2022)

November 16, 2022

https://www.bnnbloomberg.ca/

(Bloomberg) — At least $369 billion. That’s the amount of money made available to bolster clean energy from the landmark Inflation Reduction Act.

And investors are circling. Opportunities range from renewable and nuclear energy to electric vehicles and newer technologies such as batteries, hydrogen and carbon capture, utilization and storage.

Indonesia proposes to Canada setting up OPEC-like group for nickel – by Staff (Reuters – November 16, 2022)

November 16, 2022

https://www.reuters.com/

JAKARTA, Nov 16 (Reuters) – Indonesia has proposed in talks with Canada establishing an OPEC-like organisation for nickel producing countries, the Southeast Asian nation’s investment ministry said in a statement on Wednesday.

Indonesia and Canada are the first and sixth biggest nickel producers in the world, respectively. The proposal was made when Indonesian Investment Minister Bahlil Lahadalia met Canada’s International Trade Minister Mary Ng on Tuesday on the sideline of the G20 summit in Bali.

Southwestern Newfoundland could be home to a high-grade deposit of highly in demand lithium – by Evan Careen (Saltwire.com – November 14, 2022)

November 16, 2022

https://www.saltwire.com/

Early test results are promising at the Kraken project near Burgeo

ST. JOHN’S, N.L. — When people think mining in Newfoundland and Labrador, iron ore, nickel and, in recent years, gold, tend to come to mind.

Gold was actually what Tim Froude, CEO of Sokoman Minerals Corp., and his mining partners, Benton Resources Inc, were looking for at their Golden Hope project in southwestern Newfoundland when something else caught their eye. “We were flying along in a helicopter when we noticed a white outcrop in the distance, so we landed to take a look,” Froude said.

First Nation strikes benefits deal with Marathon mine builder – by Staff (Northern Ontario Business – November 15, 2022)

November 15, 2022

https://www.northernontariobusiness.com/

Generation Mining anticipates construction start of open-pit project in early 2023

The developers of Marathon-area open-pit project have struck a community benefits agreement (CBA) with a neighbouring First Nation on the north shore of Lake Superior.

Toronto’s Generation Mining announced Nov. 14 that the membership of Biigtigong Nishnaabeg (formerly Pic River) has approved a community benefits agreement involving the construction and environmental safeguards of the proposed Marathon Palladium-Copper Project owned by Generation PGM.

U.S. government considering funding for Ontario’s Ring of Fire – by Naill McGee (Globe and Mail – November 15, 2022)

November 15, 2022

https://www.theglobeandmail.com/

Ring of Fire Metals is in talks with the United States government about possibly getting funding for its critical minerals project in northern Ontario.

“We’ve had initial discussions with the U.S. Department of Defence (DOD) regarding the important role that Northern Ontario’s Ring of Fire region will play in producing the critical minerals needed by Canada and the U.S.” the company said in a statement to The Globe and Mail.

Wealthiest nations offer Indonesia $20 billion to wean off coal – by Cecilia Jamasmie (Mining.com – November 15, 2022)

November 15, 2022

https://www.mining.com/

Rich nations led by the US and Japan have pledged to give Indonesia a $20 billion package to help the coal-dependent country shift to renewable energy and reach carbon neutrality by 2050.

The deal put forward by the Just Energy Transition Partnership (JETP), which includes the US, Japan, Canada, the UK, and several European countries in the EU and Norway, has been more than a year in the making.

The central bank of almost every country in the world owns gold — except Canada. Here’s why that’s a mistake – by Frank Giustra (Toronto Star – November 11, 2022)

November 15, 2022

https://www.thestar.com/

Since 2010, central banks around the world have been stocking up on gold, recently at an accelerated pace. But Canada continues to shun the trend, writes Frank Giustra.

Gold is money, full stop. It’s not a shiny pet rock, as the crypto crowd might want to believe. And it’s not some antique instrument that no longer serves a purpose in this new digital world.

It has been used as money for thousands of years and while paper currencies have all come and gone (mostly to zero), gold has always retained its value. For that reason, the central bank of almost every country in the world owns gold — some more than others — as part of their foreign exchange reserves.

Tesla-Backed Nickel Miner Cuts Output After Waste Dam Leak – by Mathieu Dion and Jack Farchy (Bloomberg News – November 4, 2022)

November 15, 2022

https://www.bnnbloomberg.ca/

(Bloomberg) — The troubled Goro nickel mine — one of the world’s largest deposits, which is part-owned by Trafigura Group and backed by Tesla Inc. — has been forced to reduce production to address a leak from its tailings dam.

Goro, which is located in the South Pacific territory of New Caledonia, reported a “limited release of salt-laden liquid” after heavy rains in August, a spokesperson for owner Prony Resources said by email. Corrective measures required by local authorities mean that nickel output will be reduced in the fourth quarter, the company said.

COMMENTARY: Everything’s coming up minerals in Newfoundland and Labrador – by Larry Short (Saltwire.com – November 10, 2022)

November 15, 2022

https://www.saltwire.com/

I attended the Mineral Resource Review Conference held Nov. 1 to Nov. 4 in St. John’s and I have never been as optimistic about the financial future of Newfoundland and Labrador as I am now.

The conference is all about the rocks in Newfoundland and Labrador and how they could be, and are being, mined. There were 803 registered delegates plus gangs of assistants and enablers from exploration and mining companies, prospectors and suppliers.

Column: LME stays Russian metal ban with views starkly split – by Andy Home (Reuters – November 15, 2022)

November 15, 2022

https://www.reuters.com/

LONDON, Nov 15 (Reuters) – The London Metal Exchange (LME) has announced it will continue accepting Russian metal as good delivery against its industrial metal contracts, for now at least.

It made the decision knowing “it is likely that additional tonnages of Russian metal will – in time, if not immediately – be warranted in the LME physical network.” That brings with it the risk of LME pricing moving from a global to a Russian benchmark, creating a disconnect between paper and physical markets.

British Columbia: 25 years after the Delgamuukw case, the fight for land is more contentious than ever – by Angela Sterritt (CBC News British Columbia – November 15, 2022)

November 15, 2022

https://www.cbc.ca/news/canada/british-columbia/

Judges ruled that Indigenous people had ancestral land rights but stopped short of declaring Aboriginal title

Twenty-five years after the Delgamuukw verdict was handed down, First Nations’ leaders behind the historic case are still ruminating about how the land they fought for is still largely in the hands of the Crown.

“I thought the fight would have been over, but 25 years later, here we are still fighting,” said Dimdiigibuu, also known as Ardythe Wilson.

Canada deals itself a blow in cutting China out of critical minerals – by David Olive (Toronto Star – November 10, 2022)

November 15, 2022

https://www.thestar.com/

Ottawa has just shown tangible resolve in declaring Canada off-limits to Chinese ownership of Canadian critical minerals. These are minerals essential to the production of electric vehicles (EVs), cellphones, laptop computers, and power from alternative energy technologies.

It’s by no means certain that this recent prohibition is in Canada’s interests. More on that later. Last week, Ottawa ordered Chinese companies to divest their ownership in three junior mining firms based in Canada. The firms plan to develop lithium deposits in Canada, Argentina and Chile.

U.S. military weighs funding mining projects in Canada amid rivalry with China – by Alexander Panetta (CBC News World – November 13, 2022)

November 13, 2022

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

Canadian companies told they qualify under Defense Production Act

The United States military has been quietly soliciting applications for Canadian mining projects that want American public funding through a major national security initiative.

It’s part of an increasingly urgent priority of the U.S. government: lessening dependence on China for critical minerals that are vital in everything from civilian goods such as electronics, cars and batteries, to weapons.