Republic of Mining

Battling ‘battery cell scarcity’ and manufacturing hiccups, Tesla quietly buys Ontario automation firm – by Gabriel Friedland (Financial Post – October 9, 2019)

October 9, 2019

https://business.financialpost.com/

Richmond Hill-based Hibar Systems Ltd., which specializes in building ‘complex high speed integrated battery assembly lines,’ now a subsidiary of Tesla

Tesla Inc. has quietly acquired an Ontario-based battery manufacturer in its latest investment in Canada. Richmond Hill-based Hibar Systems Ltd., which specializes in building “complex high speed integrated battery assembly lines,” is now a subsidiary of the California-based electric vehicle maker.

Terms of the deal, including price, were not disclosed, but Tesla filed lobbying forms in October in Ottawa that list Hibar as a subsidiary, as first reported by trade magazine Electric Autonomy, and the company has scaled back its website to a single page.

The move comes amid Tesla’s well-known manufacturing challenges, having consistently missed ambitious production targets despite making large investments in robotics and other technology to automate its processes.

China tightens grip on Ivanhoe’s massive congo copper project – by Cecilia Jamasmie (Mining.com – October 8, 2019)

October 9, 2019

https://www.mining.com/

Zijin, one of China’s largest mining groups, is increasing its stake in Canada’s Ivanhoe Mines (TSX:IVN) to 13.88% from 9.8% by acquiring 35.7 million shares from CITIC Metal and 12.9 million shares from founder Robert Friedland for about C$194 million ($146m).

The move means that Friedland’s interest in the company has shrunk to 13.2%, leaving the two Chinese companies as main shareholders.

Zijin, China’s No.1 gold producer and Ivanhoe’s partner in the massive Kamoa-Kakula copper deposit in the DRC, first acquired a stake in the Vancouver-based miner in 2015. Citic Metal followed suit last year, becoming Ivanhoe’s largest shareholder. Its ownership will fall to 26.4% with today’s transaction.

New plan to remove arsenic from Long Lake in Sudbury unveiled – by Jim Moodie (Sudbury Star – October 9, 2019)

October 9, 2019

https://www.thesudburystar.com/

It took two years to develop approach to clean up Long Lake

After a two-year delay, a new plan has been put forward for arsenic cleanup at Long Lake that is expected to have less impact on area residents.

“Staff (members) have been working very hard behind the scenes to address the concerns that were raised two years ago,” said Brian McMahon, director of mine rehabilitation with the Ministry of Energy, Northern Development and Mines.

“We didn’t think ourselves that it would take so long to get to this stage, but I think the result is we’re going to have a much better approach for cleanup at Long Lake.”

When will we finally admit that electric vehicles aren’t the solution? – by Martin Horicka (Stuff.co.nz – October 9, 2019)

October 9, 2019

https://www.stuff.co.nz/

OPINION: Our civilisation is facing a major challenge. We have to choose the right path to an environmentally more sustainable society. At the same time, we should be sure the measures chosen are indeed the best possible.

Replacing fossil fuel cars with electric vehicles seems to be a logical, correct, and even necessary solution to our climate problem. But the issue is far more complex than our intuition tells us.

The banning of further production of internal combustion engines by 2050, 2040 or as soon as 2030 is talked about, even though it could take us into dangerous uncharted territory we know almost nothing about.

Western Nunavut gold miner pleads guilty to Fisheries Act violation – by Jane George (Nunatsiaq News – October 8, 2019)

October 9, 2019

https://nunatsiaq.com/

CAMBRIDGE BAY—TMAC Resources Inc., which operates the Hope Bay gold mine about 125 kilometres southwest of Cambridge Bay, must pay a $50,000 fine for the unauthorized discharge of effluent into a nearby creek.

TMAC, which pleaded guilty to violating a regulation under the Fisheries Act, was ordered to pay the fine on Oct. 2 at a hearing in the Nunavut Court of Justice in Iqaluit.

The money will go into the federal Environmental Damages Fund, which ensures court-awarded penalties support projects with positive environmental impacts. “It’s not good,” said Alex Buchan, TMAC’s vice-president of corporate social responsibility, of the conviction.

Brookfield unit to sell North American Palladium in $1-billion deal – by Niall McGee and David Milstead (Globe and Mail – October 8, 2019)

October 8, 2019

https://www.theglobeandmail.com/

Canadian palladium miner North American Palladium Ltd. agreed to a $1-billion takeover in an unusual deal that sees its biggest shareholder, Brookfield Business Partners LP, accept a discount in order to get the transaction done.

Toronto-based North American Palladium said Monday that it had reached a friendly agreement with South Africa’s Impala Platinum Holdings Ltd. Public shareholders of North American Palladium will get $19.74 a share, exactly the level the shares closed at on Friday. Brookfield Business Partners and the institutions that invested alongside it, however, will receive only $16 a share for the 81-per-cent stake they hold – a 19-per-cent discount.

Brookfield appears eager to lock in its gains from a turnaround at the mining company and strong prices for the metal, which is used in vehicles to minimize toxic emissions. Takeover talks with Impala intensified in July and shares in North American Palladium ran up by 35 per cent over the next few months.

Mining Ireland: sourcing for sustainability – by Daniel Brightmore (Mining Global – October 7, 2019)

October 8, 2019

https://www.miningglobal.com/

The Mining Ireland conference will examine the scale of Ireland’s mineral potential, mining and mineral exploration projects, and the role Irish companies play in global markets.

The Irish Mining and Quarrying Society (IMQS), in collaboration with Geoscience Ireland, will host the Mining Ireland conference in Dublin on October 8. “If it is not grown, it is mined – a much-used adage, but one that still holds true.

With the Paris Agreement 2016 and the Government of Ireland Climate Action Plan 2019, we are transitioning toward greener energy sources, many of which are dependent on the metals, and it is our responsibility to extract minerals in the most environmentally sustainable way possible,” stated the IMQS ahead of the conference.

High uranium levels seen in Navajo women decades after Cold war era mining by U.S. on their reservation (CBC News – October 8, 2019)

October 8, 2019

https://www.cbsnews.com/

Albuquerque, New Mexico — About a quarter of Navajo women and some infants who were part of a federally funded study on uranium exposure had high levels of the radioactive metal in their systems, decades after mining for ingredients for Cold War weaponry ended on their reservation, a U.S. health official Monday. The early findings from the University of New Mexico study were shared during a congressional field hearing in Albuquerque.

Dr. Loretta Christensen – the chief medical officer on the Navajo Nation for Indian Health Service, a partner in the research – said 781 women were screened during an initial phase of the study that ended last year.

Among them, 26% had concentrations of uranium that exceeded levels found in the highest 5% of the U.S. population, and newborns with equally high concentrations continued to be exposed to uranium during their first year, she said.

‘Economic prosperity at risk’: Business groups warn parties ignoring major challenges facing Canada — like a recession – by Kevin Carmichael (Financial Post – October 5, 2019)

October 8, 2019

https://business.financialpost.com/

I’ve never been much for Ayn Rand, but man, this election threatens to turn thinking people from all segments of the political spectrum into fans of Atlas Shrugged.

With all due respect to the hard working men and women of the middle class and those eager to join them, getting ahead will require more than voting for a bundle of boutique tax credits or kitschy ideas such as camping vouchers.

There are moments in history, and we’re in one. The climate is at an inflection point, and neither of the two parties with the best chance of winning the election has had the courage to present a plan that will allow Canada to meet its obligations under the Paris Agreement.

NEWS RELEASE: Canadian Mining Hall of Fame to Induct Four New Members in 2020

October 8, 2019

TORONTO, October 8, 2019 — On January 9, 2020, the Canadian Mining Hall of Fame (CMHF) will welcome four new individuals who have made incredible and lasting contributions to Canada’s mining industry: P. Jerry Asp, Alex G. Balogh, Hans T.F. Lundberg and Eberhard (Ebe) Scherkus.

For the past 32 years, the CMHF has recognized 186 exemplary men and women who have demonstrated outstanding achievement, leadership and inspired future generations in mining. Canadian mining leaders set the standard for the global industry and these individuals reflect the very best of mining excellence, determination and skill.

“The Canadian Mining Hall of Fame is proud to recognize four leaders who drove the Canadian mining industry forward and greatly contributed to Canadian society overall,” says Jon Baird, Canadian Mining Hall of Fame Chair. “Each of these inductees, representing different facets of our industry, is an exemplary leader who future generations can follow, while they work to grow and sustain responsible mining in Canada and beyond.”

[North American Palladium] With palladium rising to record highs, a $1-billion deal for a darling of the Canadian exchange – by Gabriel Friedman (Financial Post – October 8, 2019)

October 8, 2019

https://business.financialpost.com/

Toronto-based North American Palladium on Monday presented shareholders with a $1 billion buyout proposal from a larger South African rival just as its namesake metal touches record high prices.

Under the deal, Johannesburg-based Impala Platinum Holdings Ltd. struck an agreement to pay the private equity firm Brookfield Business Partners $570 million for its 81 per cent stake in the company, or $16 per share.

Meanwhile, it is offering $19.74 per share to minority shareholders, which the company called a 15 per cent premium on the 30-day weighted average price, but was exactly the price the stock closed at on Friday.

Coal mines turned into culture mines is new business in Poland – by Louise Miner and Chris Burns (Euro News – October 7, 2019)

October 7, 2019

https://www.euronews.com/

Katowice is a city that built itself on coal, turning the 18th-century village into an industrial powerhouse. Now it´s in the middle of another transformation: developing a cleaner, greener, more sustainable way of living and working. In this edition of Spotlight, we look at how this Polish city has turned coal mines into culture mines and new places to do business.

Silesian Museum – art and history

The centrepiece of this urban make-over is the Silesian Museum, built in a coal mine. Along with underground performances and a meeting space, the main hall is two football fields long, 14 metres deep. There are exhibitions about the region’s history, and on Polish art, including works by coal miners such as Jan Nowak.

Nowak said, “It’s amazing. I used to work here, with a shovel, with a hammer, and so on. And now my works are here in this museum, in this mine (Kopalny).”

South Africa’s Impala to buy North American Palladium for about $750 million – by Tanisha Heiberg (Reuters U.S. – October 7, 2019)

October 7, 2019

https://www.reuters.com/

(Reuters) – South Africa’s Impala Platinum Holdings Ltd (Implats) (IMPJ.J) said on Monday it would buy Canada-based North American Palladium Ltd (PDL.TO) for about C$1 billion ($751.77 million), marking the miner’s first purchase outside of Africa.

Prices for Palladium XPD=, widely used in vehicle exhausts to reduce harmful emissions, have doubled from a low in August last year as tighter environmental regulations force carmakers to buy more of the precious metal.

“(The acquisition) not only signals our confidence in the prevailing platinum group metals (PGM) market but it also expedites our transition to a high-level multinational producer,” Implats Chief Executive Officer Nick Muller said on a media call.

Fortescue confirms bid for vast Simandou iron ore deposit – by Cecilia Jamasmie (Mining.com – October 7, 2019)

October 7, 2019

https://www.mining.com/

Australia’s Fortescue Metals Group (ASX:FMG) has confirmed its interest in a slice of the giant Simandou iron ore deposit, handed back this year to the Guinean government by billionaire Beny Steinmetz’s BSG Resources.

The committee in charge of an international tender for the project’s blocks 1 and 2, launched in mid-July, should come to a final decision in November, sources close to the matter told Reuters.

Both the consortium of Société Miniere de Boke (SMB) and Singapore’s Winning, which is Guinea’s biggest bauxite exporter, have already acknowledged they submitted an offer. Brazil’s Vale (NYSE: VALE), the world’s largest producer of iron ore, is also said to have paid for documents needed to submit an offer, but decided not to do so.