https://www.northernontariobusiness.com/
Australian miner formalizes proposal at 70 cents per share
Wyloo Metals has made a formal bid to acquire Noront Resources and the company’s interests in the Ring of Fire. The Australian miner said it submitted its official proposal to Noront on Sept. 3.
According to the bid, Wyloo is offering 70 cents per share of Noront, a deal it calls “superior” to that of its rival bidder, BHP, which is offering 55 cents per share.
WASHINGTON – Federal regulators on Friday rejected a mining company’s request to reduce critical habitat for endangered jaguars in the Santa Rita Mountains on land that overlaps the footprint of the proposed Rosemont Copper Mine.
The decision by the U.S. Fish and Wildlife Service is the latest setback for Hudbay Minerals Inc., which has been working for more than a decade to get permission to open the mine that it says could create thousands of jobs and bring billions in economic development to the region.
RENO (AP) — A federal judge has denied tribal leaders’ bid to temporarily block digging for an archaeological study required before construction can begin for a Nevada lithium mine on what they say is sacred land where their ancestors were massacred more than century ago.
U.S. District Judge Miranda Du refused three tribes’ request for a preliminary injunction blocking the trenching planned to collect samples near the Oregon state line at the site of the largest known lithium deposit in the United States.
Billionaire says not only will BlackRock lose money, it will also hurt national security interests
George Soros criticized BlackRock Inc.’s China push as a risk to clients’ money and U.S. security interests, in the billionaire financier and philanthropist’s latest broadside against investment in the world’s second-largest economy.
“Pouring billions of dollars into China now is a tragic mistake,” Soros wrote in an op-ed in the Wall Street Journal.
TORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) — The Board of Directors of Noront Resources Ltd. (“Noront” or the “Company”) (TSXV: NOT) acknowledges receipt of a form of Arrangement Agreement from Wyloo Metals (“Wyloo”) on the evening of Friday September 3, 2021 (the “Arrangement Agreement”), which provides the terms and conditions of the potential transaction proposed by Wyloo to acquire all of the outstanding common shares of Noront for C$0.70 per share.
Noront and its advisors are reviewing the Arrangement Agreement and the Noront Board and Special Committee remain focused on fulfilling their fiduciary duties and on surfacing maximum value for the Noront shareholders.
https://www.northernminer.com/
AurCrest Gold (TSXV: AGO; US-OTC: TBMIF) is one of the few exploration companies with Indigenous ownership and leadership. President and CEO Christopher C.J. Angeconeb is a member of the Lac Seul First Nation, which also holds an equity stake in the company.
This ensures inclusion of the local First Nations in AurCrest’s two wholly owned properties in the Red Lake gold camp of Ontario. The Richardson Lake gold property historically produced 140,000 oz. of gold.
Money continues to pour in for early stage nickel stocks, with Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer.
Tribeca Investment Partners is understood to be the unnamed “global resources fund” that acquired $30 million worth of Mincor stock prior to the nickel aspirant launching this week’s oversubscribed $60 million equity raising, which was further complemented by an unusually supportive $30 million debt arrangement from BNP Paribas.
The world depends on the Democratic Republic of Congo for its cobalt to electrify vehicles. But the DRC, which supplies more than 60 per cent of the world’s reserves of cobalt ore, believes it may be getting short-changed by foreign mining companies – and is investigating whether unfair foreign mining contracts were signed during the previous administration.
The Congolese government early this week formed a commission to inevestigate the reserves at the Tenke Fungurume Mining (TFM) copper and cobalt project, which is majority-owned by China Molybdenum Co.
After the fall of Kabul, US media regurgitates a 2010 New York Times frontpage story on Afghanistan’s mineral riches based on a secret Pentagon memo and a 1977 Soviet geologic map.
Search for Afghanistan minerals and you get dozens of articles written in the last few days quoting a magical $1 trillion number including gems like The Taliban are sitting on $1 trillion worth of minerals the world desperately needs (CNN), Afghanistan: Taliban to reap $1 trillion mineral wealth (Deutsche Welle), Biden Just Handed Afghanistan’s Mineral Wealth to China (Newsweek), China Eyes Afghanistan’s $1 Trillion of Minerals With Risky Bet on Taliban (Bloomberg) and so on.
For an island that’s commonly referred to as “The Rock” it shouldn’t be a surprise to anyone that mining has played an important if sporadic role in the economic, social, and cultural history of the eastern Canadian province of Newfoundland and Labrador.
Mining is one of Newfoundland and Labrador’s largest and oldest industries, and a major contributor to the economy of the province, especially in rural areas. More than 15 mineral commodities have been produced or mined in the province.
https://www.theglobeandmail.com/
The Liberals are putting a distinctly green lens on their plans for job creation and economic growth, with promises to accelerate the transition toward a low-carbon economy if the party forms government after the Sept. 20 election.
The party platform, published Wednesday, promises a range of new green economy measures, including a 30-per-cent tax credit for clean technology investments and $2-billion to retrain oil and gas workers. It also pledges new strategies for clean-energy home renovations, aimed at kickstarting a “vibrant retrofit economy.”
https://www.northernontariobusiness.com/
From River Valley to Massey, junior miners eye old mine sites and underexplored areas in the search for ‘green’ and precious metals
The periphery of the Sudbury basin is proving to be favourable exploration ground for junior mining companies on the hunt for gold and the ‘green’ metals needed to drive the global clean energy movement.
One of the area’s most advanced projects is 100 kilometres east of Sudbury where New Age Metals expects to release a prefeasibility study early next year for a proposed open-pit mine.
https://www.theglobeandmail.com/
The Americans are leaving Afghanistan, quickly. The Chinese may replace them, slowly. China has never had much success in Afghanistan. Endless war, political and social instability, corruption and lack of infrastructure made the country largely unappealing to Chinese investors (and all other foreign players), even though they had never shied away from messy countries.
Their position could change for one compelling reason: Afghanistan is thought to hold boundless mineral treasures, especially those needed to underwrite the “green” revolution.
SHANGHAI, Aug 29 (Reuters) – For many affluent young Chinese consumers, modern simplicity is out and tradition is back in when it comes to jewellery.
Sales of gold bracelets, pendants, earrings and necklaces that draw on dragons, phoenixes, peonies and other traditional Chinese patterns and symbols are flying among consumers, especially those in their 20s and 30s, helping drive a rebound in gold demand in the country after a pandemic-induced slump.
A military junta claimed to have seized control in the West African country of Guinea and detained President Alpha Conde, casting uncertainty over key bauxite and iron ore supplies.
The coup, carried out on Sunday by an elite special forces unit led by 41-year-old Col. Mamady Doumbouya, is the latest in a series of power grabs in the region over the past year, including in nearby Mali and Chad.
