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Opinion: Arkansas just found a large lithium deposit. But lithium ain’t what it used to be – by Gus Carlson (Globe and Mail – November 23, 2024)

https://www.theglobeandmail.com/

Gus Carlson is a U.S.-based columnist for The Globe and Mail.

Just weeks after a discovery that could transform humble Arkansas into an unexpected global powerhouse in a green-tech future, the state is learning the hard way that, as in life and love, when it comes to lithium, timing is everything.

A study released last month by the U.S. Geological Survey and the Arkansas Department of Energy and Environment revealed a huge deposit of lithium – the essential element in batteries for electric vehicles – in a limestone aquifer known as the Smackover Formation in the southwestern section of the state.

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Troilus Gold brings potential funding from credit agencies to $1.3 billion – by Staff (Mining.com – November 21, 2024)

https://www.mining.com/

Troilus Gold (TSX: TLG) continues to receive the financial backing of global export credit agencies (ECAs), this time from Export Development Canada (EDC), to support the development of its copper-gold project in Quebec.

On Thursday, the company announced a new letter of intent (LOI) from EDC for up to $300 million. This, together with the LOIs recently signed with the export credit agencies of Germany, Finland and Sweden, brings the total potential funding to $1.3 billion.

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Why police are in a standoff with people working an abandoned South African mine – by Sheena Goodyear (CBC Radio As It Happens – November 21, 2024)

https://www.cbc.ca/radio/asithappens/

Illegal mining is a ‘very complicated problem’ that needs more than a police crackdown to fix, says advocate

For weeks, police have been stationed at the opening of an abandoned gold mine in South Africa, trying to smoke out the people illegally working deep inside. Since the standoff began, more than 1,000 miners have emerged to face arrest, one decomposing body has been recovered, and community members have gone to court to ensure their loved ones underground continue to get food and water.

It’s not clear how many miners are still underground in Stilfontein, in the country’s North West province. Police say they number in the hundreds. But community members say there are thousands of people below, either unwilling to come out and face arrest, or too frail to get out on their own.

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Gold price ends the week with 5% gain as safe-haven demand drives price action – by Neils Christensen (Kitco News – November 22, 2024)

https://www.kitco.com/

(Kitco News) – The gold market has ended a three-week selloff with a vengeance, as prices look set to close Friday above $2,700 an ounce. Not only has gold surpassed last week’s losses, but the precious metal is also experiencing its best rally since October 2023.

As of 1:40 p.m. ET, December gold futures were trading at $2,712 an ounce, up 1.39% for the week. Additionally, prices have risen 5.4% since the start of the week. While gold has significantly rebounded since Republican candidate Donald Trump became President-elect, some analysts suggest these gains could be more fragile than they appear.

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UK army chief: We’re ready to fight Putin in Eastern Europe – by Noah Keate (Politico Europe – November 21, 2024)

https://www.politico.eu/

Rob Magowan told MPs the British Army ‘would fight tonight’ if asked amid rising tensions with Russia.

LONDON — Britain’s armed forces would be ready to fight their Russian counterparts “tonight” if Vladimir Putin invades another Eastern European nation, a top U.K. military chief said Thursday.

“If the British Army was asked to fight tonight, it would fight tonight,” Rob Magowan, the deputy chief of the British defense staff, told the House of Commons defense committee. “I don’t think anybody in this room should be under any illusion that if the Russians invaded Eastern Europe tonight, then we would meet them in that fight.”

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Gold just topped $2,700 an ounce, but here’s why that price could double over the next half decade – by Kristian Koschany (Bloomberg News – November 22, 2024)

https://www.bnnbloomberg.ca/

Gold is on track for its biggest weekly increase since October 2023, buoyed by a sharp rise in safe-haven demand following an escalation in the Russia-Ukraine conflict. As of Friday, midday in Toronto, spot gold had risen more than five per cent this week to top $2,700 an ounce, with year-to-date gains nearing 30 per cent.

The latest surge comes after Ukraine reported Russia’s use of a new type of ballistic missile in an attack on Dnipro, a development seen as a direct signal to Kyiv’s Western allies. Heightened geopolitical risks, particularly involving major powers or regions, often drive investors towards gold and other safety assets.

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First Nations, foreign recruits bolster gold miner Agnico Eagle’s workforce – by Len Gillis (Northern Ontario Business – Novemver 18, 2024)

https://www.northernontariobusiness.com/

Executive Andre Leite pledges to continue supporting First Nations and Indigenous business partnerships in the North

The vice-president of Canada’s largest gold mining company said there is a lot of excitement these days in the industry, but it’s not just related to the rapidly rising price of gold, which has reached record levels in recent weeks.

Andre Leite, vice-president of Agnico Eagle Mines’ Ontario operations, said his company is working hard to maintain best possible working relations with First Nations both in providing jobs and sustainability for mining operations on Indigenous lands in Northern Ontario.

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Mountain View County selected for Alberta’s first commercial lithium facility – by Dan Singleton (The Albertan – November 21, 2024)

https://www.thealbertan.com/

MOUNTAIN VIEW COUNTY – Mountain View County has approved a request by Calgary-based E3 Lithium Ltd. for an option to purchase the land at the former Dyck Gravel Pit east of Highway 2.

In a news release issued Thursday, E3 Lithium Ltd. said the site southeast of Olds will be used for the company’s Clearwater Project’s Central Processing Facility. The property is “well situated for infrastructure, including accessible utilities and roadways, to support E3 Lithium’s development of the first commercial lithium facility in Western Canada.”

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Indonesia Curbing Nickel Supply to Support Locals, Eramet Says – by Eddie Spence (Bloomberg News – November 21, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Indonesia is squeezing supplies of nickel ore to protect smaller local miners as the market for the battery metal endures a prolonged slump, according to Eramet SA.

The French miner, which operates the world’s largest nickel mine in Indonesia’s North Maluku province, was this year given a sales quota by the Asian nation that was 29% less than it expected, causing its share price to plunge in October.

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Challenges in critical minerals supply threaten global energy transitions – by Marleny Arnoldi (Mining Weekly – November 22, 2024)

https://www.miningweekly.com/

An unprecedented surge in demand for critical minerals on the back of global transitions to clean energy is posing significant challenges in meeting these goals, as the critical minerals sector experiences various challenges, says data and analytics company GlobalData.

“The global transition to clean energy is gaining momentum, heavily relying on renewable technologies such as solar PV cells and wind turbines, alongside energy transition solutions like hydrogen, energy storage and carbon capture,” GlobalData explains, adding that this growing demand is putting pressure on minerals supply.

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Gold Prices Rise After $82 Billion Discovery In China—New Record High Ahead? – by Giuseppe Ciccomascolo (CCN.com – November 22, 2024)

https://www.ccn.com/

China’s recent discovery of massive gold reserves in Hunan province has sent shockwaves through the global market, propelling gold prices to new heights. However, the long-term trajectory of gold prices remains uncertain, influenced by a complex interplay of factors such as interest rates, inflation, and geopolitical risks.

While some analysts predict a bullish future for gold, others caution against overly optimistic forecasts due to the inherent volatility of commodity markets. China has discovered gold reserves valued at 600 billion yuan – equal to $82.9 billion – in central Hunan province. As the world’s largest gold producer, China accounts for approximately 10% of global output in 2023, based on data from the World Gold Council.

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Navigating ‘The Valley of Death’: Why Canada’s emerging critical minerals miners are struggling to survive and what can be done about it – by Niall McGee (Globe and Mail – November 22, 2024)

https://www.theglobeandmail.com/

Martin Turenne, chief executive officer of FPX Nickel Corp. FPX-X is wired as an optimist. In the mining industry, you have to be, because the timelines are agonizingly long and the odds are often heavily stacked against you.

Mr. Turenne hopes to have a nickel mine and refinery in production at its Baptiste project in central British Columbia by the end of the decade. The grand plan is to supply nickel for Canada’s nascent electric vehicle battery industry. The early estimate to build what could eventually be a top 10 nickel operation globally is $2.6-billion.

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BHP bets billions on Chile mines to face global copper crunch – by Daina Beth Solomon and Fabian Cambero(Reuters – November 22, 2024)

https://www.xm.com/

BHP Group expects a global copper deficit of 10 million metric tons a decade from now, a shortfall that is driving its plans to spend at least $11 billion at the world’s biggest copper mine, Escondida, and other projects in Chile.

BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years to extract more copper from Escondida and the smaller Spence mine, and restart the Cerro Colorado mine. The world’s biggest listed miner’s annual production is set to fall by around 300,000 tons to 1.6 million tons by the end of the decade, largely driven by a slump at Escondida that is expected to peak in 2025.

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Indigenous Leaders: Community builder Jennifer Constant makes their message clear to miners – by Ian Ross (Northern Ontario Business – November 21, 2024)

https://www.northernontariobusiness.com/

Sustainability, participation, equality earns Mattagami First Nation chief accolades as an Indigenous trailblazer

Since first being elected to Mattagami First Nation council in 2003, Jennifer Constant has never been shy about holding mining companies to account on their stated ESG principles of doing no harm.

Before consultation with First Nations became standard industry practice, the now-chief (Ogimaa Kwe) of Mattagami wouldn’t hesitate to remind junior mining companies probing for gold and minerals within their territorial lands to “come have a conversation” on their exploration plans.

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Mitsui places highest bid for stake in First Quantum’s Zambian copper mines (Mining Technology – November 21, 2024)

https://www.mining-technology.com/

The divestment of stakes may ease First Quantum’s financial strain after the closure of its Panamanian copper mine due to protests.

Japanese trading company Mitsui has placed the highest bid for around a 20% share in Canadian mining giant First Quantum Minerals‘ Zambian Sentinel and Kansanshi copper mines for roughly $2bn (Y308.82bn), reported Bloomberg, citing sources familiar with the matter.

The bid surpasses a competing offer from Saudi Arabia’s Manara Minerals Investment. The potential deal’s terms are still under negotiation. The company could opt for an alternative buyer or retain its assets.

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