Republic of Mining

A green metals company? Teck is betting on copper, and hoping investors don’t mind a side of coal – by Gabriel Friedman (Financial Post – May 13, 2021)

May 13, 2021

When Teck Resources Ltd. reported its first quarter earnings in late April, its chief executive Don Lindsay emphasized that his company was focused on “green metals as they’re now called.”

Specifically, the Vancouver-based diversified mining company is touting its production of copper, a metal that’s expected to see significant demand growth as solar power, wind turbines, battery electric vehicles and various other ‘green’ technology, all of which use copper, account for an increasingly larger share of global energy.

“We have one of the very best copper production growth profiles in the industry and located in attractive jurisdictions,” Lindsay told analysts on April 28. “Accelerating copper growth is the cornerstone of our strategy and by growing our copper production, we rebalanced our portfolio toward what are now called ‘Green Metals’.”

KGHM to sell its smaller mines outside Poland – by Staff (Mining.com – May 13, 2021)

May 13, 2021

https://www.mining.com/

KGHM plans to sell its smaller mines outside Poland, including the Carlota copper mine in the United States.

“We decided that the smaller mines do not fit in our portfolio. It seems that now is an ideal time to sell,” Pawel Gruza, vice president in charge of foreign assets, said in a news conference.

The company plans to reinvest the proceeds in its domestic operations.

Iron ore prices hit new record – by Henry Lazenby (Northern Miner – May 12, 2021)

May 13, 2021

https://www.northernminer.com/

The price for iron ore surged to a record US$237.57 per tonne on May 12 as strong Chinese demand continued to outpace supply.

The record price levels are supported by a continued supply squeeze, with major iron ore producers reporting seasonally lower output in the March quarter, and growing concern over the escalating Covid-19 crisis in India, which could impact the country’s exports of the metal.

“These factors, along with a recovery in ex-China demand, is expected to drive the global seaborne trade balance into a deeper deficit in 2021, with annual prices forecast to average US$153 per tonne,” Ronnie Cecil, principal analyst for metals and mining research at S&P Global Market Intelligence, tells The Northern Miner, although he notes a seasonal rise in Brazilian exports are likely to lower prices in the second half of the year.

Moab uranium tailing cleanup still going after 13 years – by Max Roth (Fox 13 Salt Lake City – May 12, 2021)

May 13, 2021

https://www.fox13now.com/

MOAB, Utah — Before Moab was a Mecca for outdoor recreation in Utah, it was the hub of cold war uranium mining; and in the rush to process the ore for nuclear weapons, officials made a terrible decision we’re still paying for.

That decision made in 1956 was to build a uranium processing mill along the banks of the most important river in the American Southwest: the Colorado River.

“When they established a mill, there wasn’t very much thought given to protecting the river,” said Russell McCallister, the director of the federal cleanup.

Electric vehicle shift poised to transform Canada’s miners – by Charlie Mitchell (Financial Times – May 11, 2021)

May 13, 2021

https://www.ft.com/

North America cross-border supply chain aimed at loosening China’s grip on battery minerals

On both sides of the US-Canada border, a regional electric vehicle (EV) supply chain is being created, with the potential to transform mining in Canada and loosen China’s grip on the minerals used in batteries.

While Canada has an abundance of nickel, cobalt, graphite and lithium, the country has little local production of EV batteries. But, as global demand surges, US and Canadian leaders have discussed a joint approach to benefit local miners and manufacturers, as well as cutting their reliance on Chinese imports.

“We’ve been betting 100 per cent on having a vertically integrated value chain in Canada,” says Arne Frandsen, managing partner and co-founder of investment group Pallinghurst, which has invested in graphite and lithium mines in Quebec.

Remembering Mineral’s mining history – by Toby Cox (The Central Virginian – May 12, 2021)

May 13, 2021

https://www.thecentralvirginian.com/

The names of places often hint at their history. Virginia and Louisa County were both named after members of England’s royal family, recalling the United States’ pre-revolutionary times. The name of the Town of Mineral also recalls its distinctive history, as a mining hub.

Mineral was originally called Tolersville, named after William F. Toler who owned a tavern where the Mineral Volunteer Fire Department is currently situated. The town was renamed Mineral in 1902 when the mining boom in Central Virginia was at its height.

Mineral is located on the gold-pyrite belt that runs from Stafford County southwest through Culpeper, Orange, Spotsylvania, Fauquier, and Louisa counties.

Indigenous people’s lives depend on their lands, but threats are growing worldwide – by Barbara Fraser (National Catholic Reporter – May 12, 2021)

May 13, 2021

https://www.ncronline.org/

The threats facing Indigenous people opposing industrial operations on their lands — discrimination, harassment and assassination — all disproportionately affect women. And the coronavirus pandemic has done little to reduce the danger, say Indigenous and faith leaders.

“Indigenous women human rights defenders are at the forefront of the resistance against the effects of extractive industries and, more generally, the model relying on the exploitation of natural resources, including through mining, logging, [agricultural] monocultures and dams,” Sandra Epal-Ratjen, international advocacy director for Franciscans International, said at a virtual event April 26.

The webinar sponsored by Franciscans International, which brought together United Nations officials with Indigenous leaders from Brazil, Indonesia, Bangladesh and Guatemala, coincided with the 20th session of the U.N. Permanent Forum on Indigenous Issues, held April 19-30.

COLUMN-Cobalt, Congo and a mass artisanal mining experiment – by Andy Home (Nasdaq/Reuters – May 13, 2021)

May 13, 2021

https://www.nasdaq.com/

Cobalt epitomises the minerals conundrum at the heart of the green technology revolution.

It’s a key ingredient in the chemistry that powers electric vehicles and, along with other battery materials such as lithium, is facing a sustained demand surge as the world decarbonises.

But the world’s largest cobalt supplier is Democratic Republic of Congo, where up to a fifth of production is generated by artisanal miners working in squalid and dangerous conditions with little if any pricing power for their hard-won ore.

Laurentian losing three key ‘Sudbury Model’ researchers – by Hugh Kruzel (Sudbury Star – May 13, 2021)

May 13, 2021

https://www.thesudburystar.com/

They are a loss to regreening and land and water restoration efforts here and around the world

A university is not buildings; it is the sum of all the activities that go on in and around the campus; and much further. It is ultimately the interaction of learners and those who offer learning opportunities. It is the research and even the conversations between and amongst seemingly disparate parts that lead to surprises, discoveries, solutions, and understandings.

The removal of professors, staff, and the impact of cuts and closing, are beyond evaluation and reach well outside our geographic region. In ecology and environmental sciences, the closing of programs ends decades of awareness, sharing, and success in land, soil, and water research and restoration.

Laurentian, of course, is insolvent. To balance its books, it has cut almost 200 faculty and staff, and 69 programs. Graeme Spiers taught in a range of departments.

First Nation’s Lawsuit to Block Gold Exploration at Ontario Site Threatens Prospector’s 35-Year Investment in Project – by Jason Unrau (The Epoch Times – May 12, 2021)

May 13, 2021

https://www.theepochtimes.com/

Group claims violation of UNDRIP rights; province and junior miner cite over a decade of support for consultation and attempts at engagement thwarted

A First Nation in northern Ontario, citing infringement of sacred territory, has sued the province and a prospector for $80 million in damages and an injunction to stop further exploration work and commercialization of hard rock gold claims said to contain tens of millions of ounces.

In response, the Ontario government cites support it’s provided since 2008 to boost the indigenous community’s capacity for consultation including in terms of mineral development.

The prospector, now in his mid-70s, similarly points to years of engagement efforts that met with “non-engagement and delay,” as well as “intensive logging and exploration activities” that have already occurred on the land under dispute.

Copper to surge at least seven-fold before this bull market is over – Goehring & Rozencwajg – by Anna Golubova (Kitco News – May 11, 2021)

May 12, 2021

https://www.kitco.com/

(Kitco News) Copper is one of the leaders of this year’s commodities bull rally, and its price surge is far from over, according to Goehring & Rozencwajg Associates, which is projecting at least a seven-fold increase in copper before the bull rally subsides.

“We are strong believers that copper prices are heading significantly higher. After bottoming at $1.95 per pound in early 2016, copper prices have more than doubled.

Copper equities (as measured by the COPX ETF) have done even better, rallying over 200% — more than twice the increase of the S&P 500,” Goehring & Rozencwajg said in a report.

Neskantaga First Nation calls for halt to environmental study process on Ring of Fire road – by Staff (Northern Ontario Business – May 10, 2021)

May 12, 2021

https://www.northernontariobusiness.com/

Moonias, a frequent critic of the Ring of Fire planning process, said
local leadership already have enough on their plate with an ongoing
health emergency, a community water crisis, and the “marginalization of our
voices” in the EA process.

Neskantaga First Nation is calling for a halt to all the environmental assessment (EA) processes in the Ring of Fire.

Chief Wayne Moonias is demanding a “pause” in the process until the pandemic is over when meaningful consultation can take place on the proposed north-south corridor to access the Far North mineral belt.

In a letter to provincial Environment, Conservation and Park Minister Jeff Yurek, Moonias expressed his displeasure that the early stages of the provincial EA process is about to begin the Northern Road Link, the middle section of the Ring of Fire road, between Marten Falls and Webequie First Nations.

Ocean mining frenzy drives $2.9 billion merger – by Nelson Bennett (Business In Vancouver – May 11, 2021)

May 12, 2021

https://biv.com/

Littering the abyssal plain of the Pacific Ocean are an estimated 21 billion tonnes worth of polymetallic nodules containing high grades of manganese, nickel, copper and cobalt – the so-called “battery metals” that Tesla (Nasdaq:TSLA) has warned may soon be in short supply.

They sit on top of the sea floor just waiting to be hoovered up, and several companies, including one from Vancouver, DeepGreen Metals, is in the race to begin harvesting them.

Getting the 50% reduction in greenhouse gas emissions by 2030 that U.S. President Joe Biden has committed to will require a massive shift to renewable energy and electric cars.

Down the rabbit hole with a federal budget fuelled by fantasy – by John Ivison (National Post – May 12, 2021)

May 12, 2021

https://nationalpost.com/

Fast said he worries the largest spending budget ever will create a
financial burden that will undermine the prospects of the future
generations to live the Canadian dream.

In Alice’s Adventures in Wonderland, the Queen of Hearts is synonymous with the idea of arbitrary justice. “Sentence first; verdict afterward,” she pronounced.

The concern among some senior public servants is that Finance Minister Chrystia Freeland has used Lewis Carroll’s fantasy novel as inspiration for her first budget. Spend first; specify objectives, with measurable metrics to guide performance afterward.

Nearly a month after the “recovery plan for jobs, growth and resilience” was unveiled, it is becoming the target for resounding criticism from people who have been involved in preparing previous budgets, some of whom say it is more focused on the political fortunes of the Liberal Party than on rebuilding the economy post-pandemic.

Editorial: The cost of the Wolverine minesite – by Lewis Rifkind (Yukon News – May 9, 2021)

May 12, 2021

https://www.yukon-news.com/

The price of a decent wolverine fur goes for about $1,000 these days. Wolverine fur trim on hoods is highly desirable because it repels water. This means a frost-free hood on those cold days when Yukoners go outside.

Regrettably, there is a mine in the southeast Yukon of the same name that does not repel water and is costing Yukon residents a lot more than a single animal fur to treat its wastewater. This beast is known as the Wolverine Mine.

The Wolverine Mine site is located in the southeast Yukon on the Robert Campbell Highway between Ross River and Watson Lake. It produced mainly lead, zinc and some other metals for three years, and was last operated back in 2015.