https://www.theglobeandmail.com/
Lundin Mining Corp. is selling two aging European mines for up to US$1.52-billion to Swedish mining company Boliden AB as it improves its balance sheet and raises cash to fund its South American copper growth strategy.
Vancouver-based Lundin is set to receive US$1.37-billion in cash when the deal closes, with an additional US$150-million to come if copper and zinc prices trade above certain levels over the next couple of years.
LONDON, Dec 10 (Reuters) – Many lithium mines, led by Chinese operators, are maintaining production of the raw material needed for electric vehicle (EV) batteries, in defiance of prices weak enough to trigger mass output cuts – providing a boon for battery makers.
The continued production raises the prospect of years of oversupply and of weak prices. Some battery makers own mines or have injected cash into operations to keep them operational, company reports show.
https://www.cbc.ca/news/canada/british-columbia/
Collapse of Mount Polley tailings dam considered one of the worst environmental disasters in Canadian history
More than a decade after spilling millions of litres of toxic wastewater into rivers in the B.C. Interior, Imperial Metals Corp. has been charged with 15 violations of the federal Fisheries Act.
The charges were announced Tuesday by the B.C. Conservation Officer Service, which said it worked with the Department of Fisheries and Environment and Climate Change Canada to build the case for taking the company to court.
Federal Environment Minister Steven Guilbeault’s decision not to assess the impact of a massive thermal coal mine expansion is “cowardly” and “colossal backtracking” on Canada’s commitments to stop exporting this dirty fossil fuel, says an environmental advocate. On Dec. 6, the Impact Assessment Agency of Canada (IAAC) decided Coalspur’s Vista Coal mine expansion in west-central Alberta will not be subject to a federal impact assessment.
“Over the last two years, we’ve seen zero progress on the thermal coal export ban, and now we’re seeing Canada move in the opposite direction by refusing to even assess the impacts of a major expansion of Canada’s largest thermal coal mine,” Julia Levin of Environmental Defence told Canada’s National Observer in a phone interview.
Stuff the British Stole
Tyres. Elastic bands. Balloons. Shoes. There’s a long list of items that are made from rubber: the waterproof, durable substance that’s all around us, almost all of the time. But like many resources, rubber has a dark past, where today’s inventions only exist thanks to generations of exploitation.
And this dark past had one key turning point based on the actions of one Englishman deep in the Amazon. While it undoubtedly changed the course of history, some say it was a brazen theft.
The arrest of mining executives in Mali, threats by Burkina Faso’s junta to strip permits and the seizure of a French-run uranium site in Niger have unsettled Western miners operating in West Africa and could limit further investments. Day-to-day production in Mali and Burkina Faso has so far been largely unaffected.
The escalation is expected, however, to hit firms seeking finance and insurance – curbing supply growth in Africa’s engine of gold output, more than a dozen people, including mining employees, financiers, insurance providers and government sources, told Reuters.
https://www.northernontariobusiness.com/
Toronto gold company drilling off Grey Fox deposit with bump in resources expected in early 2025
While Glencore’s Kidd base metals mine is slated for closure in two years time, the legendary Timmins camp is far from finished when it comes gold mining longevity. McEwen Mining is excited by a new prospect in its gold mining stable at the Fox Complex, east of the city, that contains a new and emerging deposit dubbed Grey Fox.
In releasing a raft of high-grade assay results this week, the Toronto gold company framed the ongoing exploration program at Grey Fox as opening up “new possibilities for resource and production growth” in what is already a very prolific mining area for McEwen.
https://www.thesudburystar.com/
Union says its members won’t be affected by the cuts
Vale Base Metals will be shedding some staff in Sudbury but as of now the downsizing seems isolated to management and will not impact the rank and file.
“We have been informed there is an internal, managerial reorganization, that is obviously resulting in job losses, as has been reported already,” said USW 6500 vice-president Ray Hammond. “But we have not been informed of who or how many people that affects.”
Hammond said the union has been given no indication that any of its workers are slated to lose their jobs. “We have not been informed of it affecting our membership in any way,” he said. “They’re still hiring, for us, and we still have new members going through training as we speak.”
At present, gold is caught in a medium-term corrective cycle, while long-term price charts and macro fundamentals still firmly favor the safe-haven metal going higher once a now 6-week correction has run its course.
As mentioned in this column heading into the U.S. presidential election, gold had been long overdue for a 5-10% correction. The 54% 12-month surge in bullion into the end of October had yet to experience as much as a 5% correction heading into a chaotic U.S. election, with the overwhelming result having led to some healthy profit taking from an extreme overbought situation.
SSR Mining (NASDAQ, TSX: SSRM; ASX: SSR) announced on Friday it has acquired the Cripple Creek & Victor (CC&V) gold mine in Colorado from Newmont (NYSE: NEM, TSX: NGT). With this acquisition, SSR is expected to become the third-largest gold miner in the United States. The transaction includes a $100 million upfront cash payment and up to $175 million in milestone-based payments, for a total of $275 million.
Of the milestone payments, $87.5 million will be paid upon the approval of an amended permit for the CC&V Cresson mine filed by Newmont earlier this year to extend its life by adding leach pad capacity and making operational adjustments.
Mining giants Rio Tinto, Usha and Taseko are tackling copper shortages as surging EV and clean energy demand risks a 200,000-ton deficit by 2025
The global pivot to renewable energy and EVs drives an unprecedented demand for copper. The essential metal, critical for everything from EV batteries to wind turbines, is facing a supply crunch that could impede progress toward clean energy goals.
Swiss bank UBS estimates that the copper supply deficit will exceed 200,000 tons by 2025. The International Energy Forum adds that, to meet the growing demand, more than a billion tons of new copper mining capacity will be needed annually until 2050.
https://www.cbc.ca/news/canada/british-columbia/
E-One Moli says it is focusing on Taiwanese production before expansion abroad
A $1-billion lithium-ion battery cell production plant that was planned for Maple Ridge, B.C., has been shelved. The parent company, Taiwan Cement Corp., announced the construction of the Canadian plant with much fanfare last year, with Prime Minister Justin Trudeau and Premier David Eby attending and promising a combined $284.5 million in government funding.
Taiwan Cement Corp. company chairman Nelson Chang is quoted in a statement saying that the plant construction has stopped in order to focus on Taiwanese production, in step with other battery makers suspending similar projects across North America.
(Bloomberg) — Rio Tinto Group contributed to widespread damage due to waste left at an abandoned copper mine in Bougainville, Papua New Guinea, and risks to local communities are ongoing, a report has found.
Panguna, which was operated by Rio subsidiary Bougainville Copper, was once one of the world’s largest copper mines. It was shut in 1989 after local protests over the disbursement of revenue from the mine degenerated into a civil war that killed as many as 20,000 people.
https://www.thesudburystar.com/
The film brings to life Sudbury’s journey from a desolate landscape scarred by pollution to the vibrant, thriving region it is today
Science North has premiered its latest production, Planting Hope: A Regreening Story, a powerful documentary that celebrates the transformation and resilience of Greater Sudbury. The premiere at Dynamic Earth captivated audiences with the remarkable tale of one of the largest and most successful environmental reclamation projects in the world.
Through powerful imagery and inspiring stories, the documentary reveals how collaborative efforts, innovative regreening techniques and a shared commitment to the land have revitalized Greater Sudbury.
https://www.northernminer.com/
China’s ban on U.S.-bound critical mineral exports is “mineral extortion,” Washington D.C.-based National Mining Association (NMA) president Rich Nolan said on Wednesday. The export ban announced a day earlier targets gallium, germanium, antimony and graphite. These minerals are needed for semiconductors, 5G phone tech, defence systems and electric vehicle batteries. Antimony is found in bullets. Nolan described the export ban as a calculated bid for geopolitical leverage.
“China has weaponized the world’s mineral supply chains,” he said in an emailed statement. “We must confront Chinese mineral extortion and recognize that U.S. mining policy is the foundation of our nation’s economic, energy and national security.”
