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Junior gold miners are appealing takeover targets as bullion prices climb – by Dominique Gené and Andrew Willis (Globe and Mail – November 5, 2024)

https://www.theglobeandmail.com/

For the mining crowd, the annual Denver Gold Forum is a chance to swap speculation on potential deals. At this year’s gathering in September, all the takeover talk revolved around junior companies with promising properties being snapped up by larger rivals.

The country’s smallest gold miners – those developing projects that are years away from producing bullion – are becoming attractive takeover targets. Soaring gold prices have boosted the valuations of senior and intermediate mining companies and left them flush with cash, while stock prices continue to languish at exploration companies.

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Gold price sharply down on Trump win, less risk aversion – by Jim Wyckoff (Kitco News – November 6, 2024)

https://www.kitco.com/

(Kitco News) – Gold and silver prices are strongly lower and hit three-week lows in early U.S. trading, following a decisive win by Republican U.S. presidential candidate Donald Trump. The presidential race was not as close as expected and the process won’t be in dispute. So far, no civil unrest has occurred because of the election results.

This is prompting the unwinding of safe-haven long-gold trades. A stronger greenback and higher Treasury yields today are also bearish for gold. December gold was last down $65.60 at $2,684.10 and December silver was down $1.43 at $31.345.

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Jack and Adam Lundin are TNM’s Persons of the Year for 2024 – by Alisha Hiyate (Northern Miner – November 4, 2024)

https://www.northernminer.com/

Sometimes a discovery is so big, it takes generations to discover, define and develop – in order to become a mining district that produces metals for future generations. Over the past two decades, the Lundin Group technical team has found a cluster of giant copper-gold deposits in the Andes – the region that produces 40% of the world’s copper.

Their Vicuña district deposits include Filo Corp.’s (TSX: FIL) Filo del Sol and Lundin Mining‘s (TSX: LUN) Josemaria in San Juan province, Argentina; and NGEx Minerals’ (TSX: NGEX) 69%-owned Los Helados in Chile’s Region III, plus its Lunahuasi discovery in San Juan.

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Quebec Mining Act reform – by Francois Brabant and David Gravel (Canadian Mining Journal – October 29, 2024)

https://www.canadianminingjournal.com/

A breakdown of Bill 63, an act to amend the Mining Act and other provisions

On May 28, 2024, Bill 63, a proposed amendment to the Mining Act, was presented to the National Assembly (Quebec). Bill 63 marks the first significant reform of the Mining Act since 2013 and is deemed by the Ministère des Ressources Naturelles et des Forêts (MRNF) to aim at enhancing transparency, improving land use coordination, providing a better framework for exclusive exploration rights, raising environmental requirements, maximizing the benefits of extracted mineral resources, and increasing overall efficiency for the entire Quebec mineral industry.

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Book Brings W.Va. Mine Wars History To Young Readers (West Virginia Public Broadcasting – November 6, 2024)

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The West Virginia mine wars played an important part in U.S. history, but for decades were often left out of history classes. A new book aims to change that. It’s titled The Mine Wars: The Bloody Fight for Workers’ Rights in the West Virginia Coalfields, by Steve Watkins.

The mine wars occurred in the early 1900s as the United Mine Workers tried to unionize coal mines, and coal companies fought back — literally. The conflict culminated in the Battle of Blair Mountain, which was the largest armed insurrection in the US since the American Civil War.

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Manitoba eyes speedier approval, more Indigenous involvement in mining sector – by Steve Lambert (Canadian Press – November 4, 2024)

https://www.thecanadianpressnews.ca/

WINNIPEG – The Manitoba government has released a new critical mineral strategy that it says will speed up projects and better involve First Nation communities.

The 24-page document says a new office will be created to guide businesses through the various permitting processes and highlight available incentives. The plan also says the province will develop a revenue-sharing model for mining in collaboration with Indigenous nations.

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Even climate groups think Guilbeault’s emissions cap is dumb – by John Ivison (National Post – November 6, 2024)

https://nationalpost.com/

The existing plan he’s undermining would cut emissions by seven times what the environment minister is proposing

Steven Guilbeault has made clear that he plans to go out with bang, championing a record unsullied by compromise, pragmatism or achievement. The activist environment minister released the draft regulations for a cap on oil and gas emissions on Monday, under the cover of blanket U.S. election reporting.

The minister’s rationale is that regulation is needed because profits in the sector have soared. Alberta Premier Danielle Smith said Guilbeault has a “deranged vendetta against Alberta” and promised to fight the cap in court.

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Opinion – We’re losing the battle to dethrone King Coal – by David Olive (Toronto Star – November 2, 2024)

https://www.thestar.com/

The good news is that the energy transition is well underway. We are electrifying almost everything that was powered by greenhouse-gas emitting fossil fuels. The bad news is that the transition to electricity is largely driven by coal, the dirtiest of fossil fuels and the biggest contributor to climate change.

A quarter of a century after humanity first got serious about global warming at the time of the 1997 Kyoto Protocol, the world this year will burn a record 8.74 billion metric tonnes of coal, according to the Paris-based International Energy Agency (IEA).

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Potash producers sound alarm on losing revenue during lockout at B.C. ports – by Brent Jang (Globe and Mail – November 6, 2024)

https://www.theglobeandmail.com/

Canada’s potash producers are warning that the lockout of unionized supervisors at British Columbia ports could allow rivals such as Russia and Belarus to gain market share.

With commodities such as potash stuck onshore at the Port of Vancouver, bottlenecks are growing in the supply chain. Potash is among the key exports suspended at Neptune Bulk Terminals (Canada) Ltd. in North Vancouver and Pacific Coast Terminals Co. Ltd. in Port Moody.

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Botswana’s new president aims to clinch De Beers diamond sales pact soon – by Brian Benza, Felix Njini and Clara Denina (Reuters – November 1, 2024)

https://www.reuters.com/

Botswana’s new president, Duma Boko, said on Friday he wanted to conclude talks for a new sales pact with global diamonds giant De Beers as soon as possible.

De Beers, a unit of mining company Anglo American, last year agreed a new diamond sales pact, which would see the government’s share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade.

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NEWS RELEASE: NORWAY HOUSE CREE NATION IS PLEASED TO ANNOUNCE THAT IT HAS PURCHASED THE MINAGO NICKEL PLATINUM GROUP ELEMENTS PROJECT FROM FLYING NICKEL MINING CORP. (November 1, 2024)

Economic Benefits of over $700M and Approximately 500 Direct Jobs for Manitoba First Nations  

The Chief and Council of Norway House Cree Nation (NHCN) has been working with Flying Nickel for 4 years to advance this project. The NHCN purchase of the project was supported by 99% of all Flying Nickel shareholders in the Special Meeting held on October 21, 2024.

Chief Larson Anderson of NHCN confirms that “By taking full control with 100% ownership and management, we can drive this project forward, focus on the environment, maximize employment, and build economic opportunities for our people.”

The Minago Project is located on the NHCN Resource Management Area, 107 km north of Grand Rapids and 450 km north of Winnipeg, Manitoba, adjacent to Highway 6. The Minago project property comprises 94 mining claims, covering 192.36 km2, and two mining leases, covering 4.25 km2 along with the core storage and management facility in Grand Rapids.

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Goodbye, Superstack: Vale set to dismantle this Sudbury landmark – by Silvia Pikal (CIM Magazine – October 31, 2024)

https://magazine.cim.org/en/

At 381 metres, the Vale Base Metals—formerly Inco—Superstack, which is part of the company’s Copper Cliff smelter complex, was Canada’s tallest freestanding structure when it was completed in1972. It later lost that distinction to the CN tower, but today it still stands as the tallest chimney in the Western Hemisphere.

After Vale announced in September that work will begin to bring down the Superstack once it finishes dismantling its smaller Copperstack in 2025, people sent in stories to Vale about family members who were part of the construction for the behemoth structure. Locals who feel attached to it are asking: won’t the horizon of Sudbury, a place known to the global mining industry as Nickel City, feel empty once its iconic Superstack comes down?

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Northwest First Nation not sold on open-pit mining project – by Ian Ross (Northern Ontario Business – November 1, 2024)

https://www.northernontariobusiness.com/

Indigenous-led impact assessment initiated and community capacity-building funding to flow for disputed Springpole gold project

Northwestern Ontario mine developer First Mining Gold has entered into a “process agreement” with Cat Lake First Nation and Lac Seul First Nation in support of a community-based Anishinaabe-led Impact Assessment (ALIA) of the company’s Springpole Gold Project.

An Oct. 31 First Mining Gold news release said the agreement provides a framework between the company and the two area Indigenous communities to “have procedural clarity and meaningful participation” in the review of Springpole “through the unique cultural perspective of the Anishinaabe people.”

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Abandoned copper mines embraced as fast track to boost output – by Divya Rajagopal (Reuters – October 30, 2024)

https://www.reuters.com/

TORONTO, Oct 30 (Reuters) – In the race to secure copper for the clean energy transition and artificial intelligence applications, a range of companies are firing up abandoned assets once seen as financial liabilities to fast-track significant volumes of supply.

The call for copper is poised to surge in coming years due to its role in electric vehicles, renewable energy and data centers for artificial intelligence. Demand is expected to outstrip supply by 1.7% in 2035, and copper prices have scaled record highs this year.

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Temiskaming refinery builder secures funds for construction restart – by Staff (Northern Ontario Business – October 29, 2024)

https://www.northernontariobusiness.com/

Electra Battery Materials turns to lenders to finance early construction works

Electra Battery Materials has secured US$5 million ($6.9 million) from its own lenders to spend on its unfinished Temiskaming cobalt refinery.

In an Oct. 25 news release, the aspiring mineral processor announced it has a non-binding term sheet from the holders of secured notes issued by the company to raise financing that will be earmarked for “early works and winter preparations” at its refinery project in northeastern Ontario and other corporate purposes.

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