Republic of Mining

Billionaire Sawiris Hopes to Join Egypt Gold Rush as Rules Eased – by Mirette Magdy and Salma El Wardany (Bloomberg News – February 18, 2020)

February 19, 2020

https://www.bloombergquint.com/

(Bloomberg) — One of Egypt’s richest men has long coveted a role in his nation’s gold-mining industry. Now, a shakeup in regulations and a potential auction of new licenses could give Naguib Sawiris a shining opportunity.

The Egyptian government “already started talks with us as well as other companies to promote the new tender,” Sawiris, the chairman of La Mancha Holding S.a.r.l., said in a phone interview. “We are willing to participate in any area that could be promising.” He didn’t specify which of the firms he’s involved with would submit bids.

The North African country, where the mineral wealth remains largely under-explored and undeveloped, will announce its first exploration tender in about three years by March, according to a person with direct knowledge of the plans.

Japan, Germany’s anti-nuke, pro-coal power policies defy reason – by Gwynne Dyer (London Free Press – February 18, 2020)

February 19, 2020

https://lfpress.com/

Germany and Japan are finally winning a war together. Unfortunately, it is the War on Rationality. Coal, as everybody knows, is by far the most damaging source of energy we use, both in terms of the harm to humans and the impact on the climate.

It’s twice as bad as natural gas, and dozens of times worse than solar or nuclear or wind power. Yet both Germany and Japan have been building lots of new coal-fired power stations. Why?

Would it upset you if I said it’s because they are, despite their apparent sophistication, superstitious peasants at heart? Well, go ahead and get upset.

OPINION: Where are the solidarity protests for the First Nations that support Coastal GasLink? – by Robyn Urback (Globe and Mail – February 14, 2020)

February 19, 2020

https://www.theglobeandmail.com/

There have been no major demonstrations this week in solidarity with the First Nations people along the Coastal GasLink route who are waiting for change to come to their communities.

There have been no blockades disrupting VIA Rail trains; nothing in midtown Toronto; no one outside the B.C. Legislature; no disruptions on the Reconciliation Bridge in Calgary; no stopping of traffic in downtown Ottawa; and no protests along busy Vancouver intersections.

The demonstrations you’re thinking of were in solidarity with Wet’suwet’en hereditary chiefs, who oppose the $6-billion, 670-kilometre pipeline across northern B.C. It’s their slogans that have been broadly adopted, their opinions that are being mirrored in protest and their case that has been taken up so fervently by supporters all across Canada.

Glencore plans leadership shakeup this year, says CEO – by Julia Payne and Zandi Shabalala (Reuters U.S. – February 18, 2020)

February 19, 2020

https://www.reuters.com/

LONDON (Reuters) – Glencore (GLEN.L) will make more changes to its front bench this year, Chief Executive Ivan Glasenberg said on Tuesday, as the world’s largest commodities trader hastens a transition to a new generation of leaders.

The London-listed miner has faced mounting pressure to change its leadership after multiple corruption and bribery investigations. Falling commodity prices and a large exposure to out-of-favour coal have added to challenges facing the firm, whose shares lost a fifth of their value last year.

“We want a smooth generation change. There will be a few senior management changes coming,” Glasenberg told reporters. “Once the new generation is in place and ready to move on, then it will also be the time for me to move on.

Sudbury’s iconic Superstack easing into retirement – by Jim Moodie (Sudbury Star – February 19, 2020)

February 19, 2020

https://www.thesudburystar.com/

One of two new, smaller stacks already in operation

The long plumes that used to flow from the Superstack in Copper Cliff have been reduced to wisps as the mega chimney nears retirement and two mini versions take over.

You could call it a passing of the baton, although in this case it’s more like breaking one really big one in half. In fact, each of the replacement stacks is closer to a third of the size of the original.

The Superstack stretches 1,250 feet in height and is more than 100-feet-wide at its base. The new stacks are much slimmer and top out at 450 feet. Lights now adorn the shorter towers and one is already emitting puffs of smoke.

‘Serious damage’: Businesses warn of looming layoffs, loss of sales as rail disruption drags on – by Jesse Snyder and Julia Mastroianni (Financial Post – February 19, 2020)

February 19, 2020

https://business.financialpost.com/

Businesses are warning of looming layoffs, lost revenue and a hit to Canada’s reputation, as rail disruptions drag on in the country.

A coalition of 39 industry associations wrote a letter to Prime Minister Justin Trudeau on Tuesday, calling on him to “work urgently” with First Nations and police to bring the blockade to a peaceful end.

“The damage inflicted on the Canadian economy and on the welfare of all our citizens mounts with each hour that these illegal disruptions are allowed to continue,” the coalition said, which represents automotives, mining and numerous other industries.

Exclusive: Tesla in talks to use CATL’s cobalt-free batteries in China-made cars – sources – by Zhang Yan, Yilei Sun and Brenda Goh (Reuters U.S. – February 18, 2020)

February 18, 2020

https://www.reuters.com/

Beijing (Reuters) – Tesla (TSLA.O) is in advanced stages of talks to use batteries from CATL (300750.SZ) that contain no cobalt – one of the most expensive metals in electric vehicle (EV) batteries – in cars made at its China plant, people familiar with the matter said.

Adoption would mark the first time for the U.S. automaker to include so-called lithium iron phosphate (LFP) batteries in its lineup, as it seeks to lower production costs amid faltering overall EV sales in China.

Tesla has been talking to the Chinese manufacturer for more than a year to supply LFP batteries that will be cheaper than its existing batteries by a “double-digit percent,” said a person directly involved in the matter, who was not authorized to speak with media and so declined to be identified.

Quebec, James Bay Cree announce $4.7-billion development deal – by Christopher Curtis (Montreal Gazette – February 17, 2020)

February 18, 2020

https://montrealgazette.com/

The vision for the program that includes rail networks and wildlife habitat protection “came from us,” a Cree leader says.

Premier François Legault and the James Bay Cree have signed a $4.7-billion deal that will extend rail networks north, protect new wildlife habitats against development and partner on new infrastructure projects.

The Grand Alliance is a “new chapter” in the relationship between both governments, Legault said Monday. An extended rail network means more minerals can be extracted from mines in the boreal forest and shipped to American and German markets. By increasing rail capacity, Legault says Quebec will offer North American and European businesses an alternative to Chinese imports.

“It will create well-paying jobs in the Cree community but also foster a new generation of Cree entrepreneurs,” said Legault, who called the deal a model of nation-to-nation governance.

Canada steps into ‘Ring of Fire’ debate with Ontario Premier Doug Ford – by Dayna Nadine Scott and David Peerla (The Conversation – February 17, 2020)

February 18, 2020

https://theconversation.com/

Dayna Nadine Scott is the York Research Chair in Environmental Law & Justice in the Green Economy, York University, Canada. This article is co-authored with David Peerla, advisor to Neskantaga First Nation.

The struggle over the mineral deposits in Ontario’s Ring of Fire has taken a surprising turn. With all eyes on British Columbia as events unfold in Unist’ot’en, the federal minister of environment and climate change has said the agency will establish a major regional assessment process for the Ring of Fire.

The region, 500 kilometres northeast of Thunder Bay, is said to hold one of the world’s richest chromite deposits, as well as nickel, copper and platinum. While some First Nations communities support the roads that would lead to the mines, other Indigenous people across the region are concerned they are losing control over the pace and scale of development in their homelands.

Those who support the development of the Ring of Fire will undoubtedly cast the federal decision as meddling by environmentalists and a disaffected First Nation. We see it as Canada finally stepping into the ring with Ontario Premier Doug Ford to restore some integrity to the environmental assessment process.

Quebec and Cree Nation sign 30-year economic development deal for James Bay territory (CBC News Montreal – February 17, 2020)

February 18, 2020

https://www.cbc.ca/news/canada/montreal/

The deal is expected to last 30 years, ensure economic stability for the region

The Quebec and Cree Nation governments have signed a memorandum of understanding for a $5-billion, long-term economic development deal for the James Bay territory, known in the Cree language as Eeyou Istchee.

According to the mandate of the “Grande Alliance,” the deal aims to “the Indigenous values of the region,” while allowing several ambitious social and economic projects to proceed.

Those include the expansion of the rail network to reduce the negative impacts of trucking, the electrification of some industrial projects in the region and infrastructure sharing, Quebec Premier François Legault and Cree Grand Chief Abel Bosum announced Monday.

UPDATE 2-Anglo American Platinum CEO Griffith to step down, earnings soar – by Tanisha Heiberg (Reuters India – February 17, 2020)

February 18, 2020

https://in.reuters.com/

JOHANNESBURG, Feb 17 (Reuters) – Chief Executive Chris Griffith said on Monday he will step down in April from the helm of Anglo American Platinum (Amplats), which on Monday reported a doubling in annual earnings, driven by higher metals prices.

Amplats, a unit of global mining giant Anglo American , said Griffith’s successor was expected to be an internal candidate and would be announced soon.

“After more than seven years at the helm, and given all that we as a team have achieved, this is now the natural time for the next generation of leadership to take this business forward and deliver further value,” Griffith said.

Agnico Eagle CEO takes blame as gold miner shocks market with poor 2020 forecast – by Niall McGee (Globe and Mail – February 15, 2020)

February 18, 2020

https://www.theglobeandmail.com/

Investors and analysts punished Agnico Eagle Mines Ltd. after the big Canadian gold miner shocked the market with a host of unforeseen operational problems across multiple mines.

Last year, Toronto-based Agnico put two new mines into production in the Arctic, but the ramp-up isn’t going to plan, with the company dealing with various challenges such as unanticipated equipment shortages.

At La Ronde, the company’s flagship mine in Quebec, Agnico is grappling with ground stability issues three kilometres underground, and reinforcements are needed. Also in Quebec, at its Canadian Malartic open pit mine, which it co-owns with Yamana Gold Inc., the company is processing lower grade ore than expected.

Enough is enough. Clear the blockades, restore the rule of law – by Derek H. Burney (National Post – February 18, 2020)

February 18, 2020

https://nationalpost.com/

Dialogue is no prescription for those who refuse to listen because they believe themselves to be custodians of the only truth

It is times like this when Lucien Bouchard’s claim that “Canada is not a real country” has an eerie ring of truth. Protesters of many stripes have the upper hand in pockets of the country. The rule of law has been parked in the cupboard.

Rail lines are blockaded and services suspended. A provincial legislature was shuttered. The country’s economy is crippled. The national interest has no defender. The preferred solution is not a return to order and apprehension of the offenders.

Rather it is “dialogue” — as remote and amorphous a prescription as the lowest form of sophistry; one that often can be a euphemism for vacillation and the evasion of responsibility.

Japan to pour investment into non-China rare-earth projects – by Ryosuke Hanafusa (Nikkei Asian Review – February 15, 2020)

February 18, 2020

https://asia.nikkei.com/

TOKYO — The Japanese government will cooperate with the U.S. and Australia on investing in processing facilities for rare-earth metals, looking to ease reliance on imports from China.

Rare earths are essential to such high-tech machinery as motors for electric vehicles. But Japan imports 58% of its supply from China, leaving it vulnerable to manipulation by Beijing. Tokyo plans to bring the Chinese share down to 50% or less by 2025.

Tokyo is discussing a cooperation deal with the U.S. and Australia. Smelting facilities under construction in the U.S. state of Texas that will be operated by Australian rare-earths miner Lynas are a probable investment target.

The millennial eco-activists stopping trains are the new colonialists – by John Ivison (National Post – February 18, 2020)

February 18, 2020

https://nationalpost.com/

While so-called ‘settlers’ protest the pipeline, Indigenous leaders want the project that will bring economic prosperity

The uber-woke protesters who blockaded a CN rail line last weekend would be horrified at being accused of cultural colonialism. But they are as guilty of telling Indigenous Canadians how to live their lives as any Father of Confederation.

The reason 50 of them snuck into the MacMillan Yard north of Toronto and set up camp was to protest the “oppression” of the Wet’suwet’en 4,000 kilometres away in British Columbia — an Indigenous nation whose traditional land they say was “invaded” by the RCMP in an act of colonialist aggression.

Natali Montilla, 27, explained the thinking that shutdown CN’s west-bound line for seven hours on Saturday. She referred to herself as a settler on Canadian land, but one with Indigenous roots in Venezuela.