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Permitting delays impact BC projects valued at $38B, AME says – by Henry Lazenby (Canadian Mining Journal – November 21, 2024)

https://www.canadianminingjournal.com/

British Columbia’s exploration sector has over 60 critical mineral projects waiting for permits. It’s a $38-billion pileup of economic opportunities, some waiting indefinitely, Association for Mineral Exploration (AME) president and CEO Keerit Jutla says.

Without action, B.C. risks falling further behind Ontario and Quebec, whose streamlined policies and targeted funding have helped them attract more exploration funding, Jutla said. His group represents about 5,000 members.

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How murky gold trade fuels wars, gangs and terror attacks – by Emma Batha (Context – November 20, 2024)

https://www.context.news/

LONDON – The illicit trade in gold from artisanal mining is feeding conflicts from Ukraine to Sudan, funding terrorism, fuelling organised crime and subjecting the world’s poorest people to horrendous violence. This is the picture painted by the World Gold Council (WGC) in a report urging concerted international action to clean up the booming sector.

The artisanal and small-scale gold mining (ASGM) industry now produces an estimated 20% of the world’s gold, up from 4% in the 1990s, and possibly accounts for 80% of the global gold mining workforce, said the ‘Silence is Golden’ report.

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Musselwhite Mine has a new owner – by Ian Ross (Northern Ontario Business – November 18, 2024)

https://www.northernontariobusiness.com/

Vancouver’s Orla Mining does an $850 million deal with Newmont to acquire northwestern Ontario mine

Musselwhite Mine in northwestern Ontario finally has a new owner. Denver-based Newmont is selling Musselwhite to Vancouver’s Orla Mining for up to US$850 million in total consideration.

Newmont receives cash consideration of $810 million when the deal will be finalized in the first quarter of 2025 and up to US$40 million in contingent payments based on the average spot gold price following the two years after the transaction is closed. The fly-in, fly-out underground operation is roughly 500 kilometres north of Thunder Bay.

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Vince Beiser on the Race for the Resources That Will Shape the Future – by Catherine Putz (The Diplomat – November 18, 2024)

https://thediplomat.com/

“The energy transition from fossil fuels to renewables is a crucial part of the cure for climate change. But it’s a cure with brutal side effects.”

The world, journalist Vince Beiser says, is moving into the “Electro-Digital Age” and at the heart of this new era is a set of ancient, naturally occurring minerals: metals. The critical metals necessary to run the modern world and, importantly, required to power the energy transition away from fossil fuels also produce extraordinary consequences for humanity and the planet.

In “Power Metal: The Race for the Resources That Will Shape the Future,” Beiser charts a court across the world to understand how these metals are moved from the earth to our technology, and the competition that has arisen around them.

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Opinion: Alberta should lead in responsible coal mining – by Robin Campbell (Edmonton Journal – November 18, 2024)

https://edmontonjournal.com/

In Alberta, we’ve always proudly told the world about the advantages and attractiveness of investing here. We speak about low taxes, abundant resources, and a highly skilled and motivated workforce. It’s a great story, but as families in communities across the province look for ways to pay their bills, the story needs to be backed by strong public policy.

A shadow looms over what should be a critical element of our mining sector, steelmaking coal. In Alberta, steelmaking coal has immense potential for development. This development can be done responsibly – our laws demand it.

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TD’s alien world of gold coins – by Jason Kirby (Globe and Mail – November 16, 2024)

https://www.theglobeandmail.com/

Inside the bank’s push into the sometimes peculiar world of precious metal collectibles

Two aliens with emerald-green eyes stare out from the face of a gold coin on the website of Canada’s second-largest bank, the words “The invasion is here” stamped above their elongated heads.

The gleaming extraterrestrials, straight out of Area 51 central casting, appeared some time ago on the online store of TD Precious Metals, Toronto-Dominion Bank’s bullion trading division, which has quietly become one of the largest purveyors of gold and silver items in Canada’s retail market.

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UAE surpasses London to become the world’s second-largest gold hub as Asian demand grows – DMCC – by Neils Christensen (Kitco News – November 18, 2024)

https://www.kitco.com/

(Kitco News) – Asian demand has transformed the gold market this year, driving prices to record highs. While the market has recently retreated from those highs, Asia’s influence in the marketplace is expected to grow, according to the latest report from the Dubai Multi Commodities Centre (DMCC).

The DMCC highlighted that Dubai and the United Arab Emirates are uniquely positioned to serve as an important bridge between East and West. According to the report, the DMCC envisions the start of an “Asian Century” for gold, with a focus on developing a new gold economic corridor among BRICS nations, including the UAE.

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New Indigenous-owned mining royalty company a first in Canada – by Amanda Stephenson (Canadian Press/CTV News – November 17, 2024)

https://bc.ctvnews.ca/

In June of this year, a new company called Nations Royalty Corp. began trading on the TSX Venture Exchange. With minimum fanfare, the new company quietly hit a milestone on the road to Indigenous economic reconciliation in this country, becoming the only mining royalty company in the world that is majority-owned by Indigenous people.

Backed by billionaire Canadian mining financier Frank Giustra, Nations Royalty aims to lure investors with the promise of exposure to Indigenous-owned royalties, which company executives say is the last untapped pool in Canada.

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Opinion: The problem with recycling: no silver bullet to the critical-metal supply conundrum – by Vince Beiser (Globe and Mail – November 18, 2024)

https://www.theglobeandmail.com/

Vince Beiser is the author of the forthcoming book Power Metal: The Race for the Resources That Will Shape the Future, to be published on Nov. 19, from which this article is adapted.

Steve Nelson grabs the lip of the dumpster with his thick, calloused fingers, scrambles nimbly up the side, and drops down into the trash inside. He’s 57, and his many years of living on the streets of Vancouver show in his frazzled grey hair, weathered face, and unruly teeth. But he’s otherwise in great shape, sinewy, strong, and full of good cheer. A quick scrounge turns up a few lengths of electrical wire, some small sheets of aluminum, and a big outdoor light fixture. That’s a good find.

“I can take this apart without a tool and make it into money!” Steve crows about the light fixture. He shows me how to remove a small corner piece of metal and use it as an improvised screwdriver to loosen the casing.

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Trump chooses oil fracking boss as energy secretary – by Ari Natter (Bloomberg News – November 16, 2024)

https://www.bnnbloomberg.ca/

President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to lead the Energy Department.

Wright, the chief executive officer of Liberty Energy Inc., has no previous Washington experience. He’s made a name for himself as a vocal proponent of oil and gas, saying fossil fuels are crucial for spreading prosperity and lifting people from poverty. The threat of global warming, he has said, is exaggerated.

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Sudbury companies can tap into Ontario’s gold rush, chamber told – by Hugh Kruzel (Sudbury Star – November 15, 2024)

https://www.thesudburystar.com/

Agnico Eagle Mines Limited outlines its plans to develop gold mines in the province

Agnico Eagle Mines Limited is planning to spend billions developing gold mines in Ontario – a fact that should benefit mining services and supply companies based in Sudbury. That’s one of the messages Andre Leite, Ontario vice president of Agnico Eagle Mines Limited, brought to a Greater Sudbury Chamber of Commerce President’s Series Luncheon on Thursday.

Agnico Eagle’s business is gold production and Sudbury is the home base for Leite. His company is recognized globally for its leading environmental, social and governance practices.

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Gold is suddenly not so glittery after Trump’s White House victory – by Stan Choe (Associated Press – November 14, 2024)

https://apnews.com/

NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump’s victory in the presidential election.

Gold fell more than 4% in the four days since Election Day, when the broad U.S. stock market climbed nearly 4%. That’s even though investors are expecting a Trump White House to drive tax rates lower and tariffs higher. Such a combination could push the U.S. government’s debt and inflation higher, which are both things that can help gold’s price.

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FPX outlines Baptiste-like nickel in Yukon – by Shane Lasley (North of 60 Mining News – November 14, 2024)

https://www.miningnewsnorth.com/

Surface sampling outlines a zone of awaruite mineralization that is comparable in size and grade to B.C. nickel mine project.

FPX Nickel Corp. Nov. 14 reported that its summer sampling program at its Mich property in the Yukon has outlined a nickel zone that is comparable in size, grade, and style of mineralization as Baptiste, an advance-staged exploration project in central British Columbia that shows the potential of being a significant future supply of low-carbon nickel and cobalt, both of which are used in lithium-ion batteries powering electric vehicles and storing renewable energy.

Baptiste has the distinction and advantage of hosting a specialized nickel mineral known as awaruite, which is a nickel-iron alloy formed when sulfur is not present during mineralization. Nickel concentrates produced from mining awaruite do not require smelting or high-pressure acid leaching.

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How low will gold go before the bounce? – by Ernest Hoffman (Kitco News – November 15, 2024)

https://www.kitco.com/

(Kitco News) – As precious metals investors watched gold prices slide from a high of $2,800 per ounce only two weeks ago to just over $2,500 per ounce this week, analysts and traders have been working overtime to contextualize the magnitude of the move, and to try to determine the likely near-term floor for the yellow metal.

And while gold holders are reassured to hear that all the medium and long-term tailwinds behind bullion remain in effect, they remain anxious as they watch gold prices decline further day after day. “This week alone, gold prices have fallen nearly 5%, marking the steepest weekly decline in almost three years,” noted Alex Kuptsikevich, senior market analyst at FxPro.

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Osisko Metals shares rise on 53% resource boost at Gaspé copper project – by Staff (Mining.com – November 15, 2024)

https://www.mining.com/

Osisko Metals (TSX-V: OM) shares rose on Friday after the company announced an updated mineral resource estimate (MRE) for the Gaspé copper project, near Murdochville, in Quebec.

The updated estimate includes pit-constrained resources comprising 824 million tonnes grading 0.34% copper-equivalent in the indicated category and 670 million tonnes grading 0.38% copper-equivalent in the inferred category.

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