Republic of Mining

Talks on Guinea’s iron ore advance, BHP nears deal on Nimba-sources – by Saliou Samb and Barbara Lewis (Reuters U.S. – August 29, 2019)

August 30, 2019

https://www.reuters.com/

CONAKRY/LONDON, Aug 29 (Reuters) – Leading miner BHP is near a deal to divest its stake in Guinea’s Nimba iron ore deposit, while three big miners are vying to develop half of the country’s Simandou, the largest known untapped iron ore reserve, sources close to the talks said.

Guinea has struggled for decades to extract money from its iron ore, which has been left undeveloped because of protracted legal disputes and the cost of infrastructure.

BHP has also tried for years to sell its stake in the Nimba prospect, which does not fit the company’s preference for operating in stable, developed economies. Banking sources, speaking on condition of anonymity, said the price would be insignificant as BHP is keen to seal a deal.

Changing of the guard as mining’s mini-boom loses steam – by Peter Ker (Australian Financial Review – August 30, 2019)

August 30, 2019

https://www.afr.com/

A three-year boom in prices for some of Australia’s most important commodities is fast losing steam, tempting investors to change horses mid-race.

Saul Eslake was tempting fate. As the keynote speaker for a sparsely attended mining conference during the deathly bottoms of the commodity cycle, the prominent economist’s message did not lift the mood.

”It could well be, in my view, that the commodities boom Australia has just experienced in the last 12 or so years is the last of its kind in human history unless unforeseen technological developments ordain otherwise,” he told Melbourne’s IMARC conference on November 10, 2015.

Pitting communities against each other won’t work in the Ring of Fire: Horwath – by Leith Dunick (tbnewswatch.com – August 29, 2019)

August 30, 2019

https://www.tbnewswatch.com/

Ontario NDP leader wraps up three days of caucus meetings in Thunder Bay with a question-and-answer luncheon with local community leaders.

THUNDER BAY – Ontario Opposition Leader Andrea Horwath doesn’t believe the Conservative government’s approach to develop the Ring of Fire is a workable solution.

Earlier this week Greg Rickford, the mines minister, said the province would end a framework agreement signed five years ago with nine Matawa First Nations communities, and instead work with communities “willing to work at the speed of business.”

Horwath said Ontario has a responsibility and an obligation to consult with First Nations communities about the potentially multi-billion dollar mineral extraction project in the province’s far north.

OGLALA SIOUX TRIBE ‘FIGHTING BACK’ TO PROTECT BLACK HILLS FROM URANIUM MINE – by Talli Nauman (Native Sun News – August 29, 2019)

August 30, 2019

https://intercontinentalcry.org/

Rapid City – With the Oglala Sioux Tribe set to argue Aug. 28-30 for its kind of protection of cultural resources from unprecedented uranium mining in the southern Black Hills, the tribal government and local groups urged members of the public to attend proceedings here and participate in a simultaneous outdoor cultural event to raise awareness about the issue.

A panel of administrative judges from the federal Nuclear Regulatory Commission (NRC) Atomic Safety and Licensing Board (ASLB) is supposed to be in town on these dates to hear from the tribe, the commission staff and intervenors in the case, which is focusing on the “reasonableness” of their divergent approaches to surveying tribal cultural, religious, and historical properties at the proposed 10,000-acre Dewey-Burdock in situ leach mine and mill.

“NRC staff is attempting to escape its obligation to consider cultural resources at the site, saying it is so expensive and they shouldn’t have to do a cultural survey,” the tribe’s lawyer Jeffrey Parsons told the Native Sun News Today. “The tribe is fighting back.”

Security weighing on mining in Mexico’s Guerrero state (bnamericas.com – August 29, 2019)

August 30, 2019

https://www.bnamericas.com/en/

Security concerns are continuing to weigh on mining investment in Mexico’s Guerrero state, despite decreasing violence.

Trouble surged in recent years as rival drug cartels fought for dominance in the state, which is a major supplier of heroin to the US, as well as Mexico’s third biggest gold producer.

While violence has subsided – the authorities registered 946 intentional homicides in the state in January-July, down from 1,343 in the same period last year – the lack of security continues to pose problems for the mining industry, contributing to a mine suspension and undermining exploration spending.

Top ten biggest lithium mines in the world (Mining Technology – August 30, 2019)

August 30, 2019

https://www.mining-technology.com/

Western Australia hosts five of the world’s biggest lithium mines, whose combined reserves exceed 475.24 million tonnes (Mt). Mining-technology ranks the top ten biggest lithium mines in the world, based on proven and probable reserves.

1. Sonora Lithium Project – 243.8Mt

The Sonora lithium project, located in Sonora, Mexico, is the biggest lithium deposit is being developed by a joint venture (JV) of Bacanora Minerals (30%) and Cadence Minerals (70%).

The mine is estimated to hold proven and probable reserves of 243.8Mt, containing 4.5Mt of lithium carbonate equivalent (LCE). The bankable feasibility study for the project has been completed, which estimates a mine life of 19 years.

‘Kids do care’: Teen climate change activists aim for change with weekly protests – by Mike Hager (Globe and Mail – August 30, 2019)

August 30, 2019

https://www.theglobeandmail.com/

Inspired by the Swedish activist Greta Thunberg, students around the world are pressing for environmental action every Friday. Groups in Abbotsford and Calgary are particularly dedicated

After weeks of demonstrating outside Abbotsford City Hall, the teens have learned not to take it personally when they trigger an outburst of hostility.

So, when a middle-aged driver spots their banners calling for action on the global climate emergency and shoots his middle finger out his window, shouting “I like my car,” Angie Calhoun, 14, doesn’t miss a beat and continues chanting for change.

Up to a dozen other teens have been joining her in this conservative Vancouver suburb for more than five months as part of Fridays for Future, a worldwide movement pushing all levels of government to limit global warming to 1.5 degrees to avoid catastrophic environmental change.

Chinese-owned nickel plant spills waste into Papua New Guinea bay – by Melanie Burton and Tom Daly (Reuters U.S. – August 28, 2019)

August 30, 2019

https://www.reuters.com/

MELBOURNE/BEIJING (Reuters) – Waste from a nickel plant in Papua New Guinea owned by Metallurgical Corporation of China spilled into the adjacent Basamuk Bay over the weekend, three sources told Reuters on Wednesday.

Locals noticed red discharge clouding parts of the bay that is next to the Ramu Nickel plant in Madang, Papua New Guinea, a local indigenous person who took photographs of the spillage told Reuters. The man declined to be identified because of the topic’s sensitivity.

The head of Papua New Guinea’s Mineral Resources Authority (MRA) said that its officials, as well as those from PNG’s Conservation and Environment Protection Authority (CEPA), had put together a preliminary report on the incident.

EDITORIAL: Why it’s time to cool the hype about the Ring of Fire – Globe and Mail – August 29, 2019)

August 29, 2019

https://www.theglobeandmail.com/

The Ring of Fire mineral deposit in remote Northern Ontario was discovered a dozen years ago. Politicians across the political spectrum immediately began touting its potential – billed as tens of billions of dollars, just waiting to be tapped. It’s still waiting.

The decision this week by Doug Ford’s Progressive Conservative provincial government to restart talks with local First Nations is the latest try at moving the project forward. It’s not clear this government will succeed where others have failed, and it raises the question of whether the dream of Ring of Fire riches is more fantasy than reality.

The Ring of Fire, named after the Johnny Cash song, is home to a large deposit of chromite ore, used to make stainless steel. South Africa is currently the world’s largest miner. Predicted future demand growth is modest, and the challenges of developing the Northern Ontario site are considerable.

Amazon Gold and Army Suspicion Fuel Bolsonaro’s Rainforest Rage – by Simone Preissler Iglesias and Bruce Douglas (Bloomberg News – August 28, 2019)

August 29, 2019

https://www.bloomberg.com/

Among the tens of thousands of Brazilians who descended on the Amazonian goldmine of Serra Pelada in the 1980s was Percy Geraldo Bolsonaro, father of the current president, Jair Bolsonaro.

Bolsonaro senior was among the wildcat miners who endured brutal working conditions in the quest for riches. The rainforest suffered too, with widespread environmental degradation as miners ripped apart the Amazon in their desperate hunt for gold.

It’s an aspect of Brazil’s national psyche that resonates deeply with the president. “Gold mining is a vice; it’s in the blood,” he told miners from the region in a video posted to YouTube in July 2018. “We owe all we have to people with spirits like yours.”

Russia Spreads Influence in Africa Using Nuclear Power – Reports (Moscow Times – August 29, 2019)

August 29, 2019

https://www.themoscowtimes.com/

Russia is working to win influence in at least 10 African states with high-cost nuclear technology that for the most part does not suit their needs, researchers and NGOs have told The Guardian newspaper.

With booming exports, nuclear energy is one example of Russia’s increasing presence in Africa in recent years. Elsewhere, a businessman known as “Putin’s chef,” Yevgeny Prigozhin, is widely reported to be spearheading Russia’s push to exchange security and electioneering services for mining rights in Africa.

Russia’s state nuclear agency Rosatom has approached the leaders of “dozens” of African countries with various nuclear energy projects in the past two years, The Guardian reported Wednesday. Rosatom has existing deals with Egypt and Nigeria and other various agreements with other countries on the continent.

[Lithium] There May Be a Fortune Buried in a Forgotten Corner of Europe – by James M. Gomez and Misha Savic (Bloomberg News – August 29, 2019)

August 29, 2019

https://www.bloomberg.com/

Some estimate that the continent’s largest reserves of lithium⁠—the metal used for batteries⁠—are in Serbia. The hard part might be getting it out.

The ancient scooter gurgling through a languid summer afternoon brought groceries and a fistful of cash to Sasa Antic’s house. Like many of his neighbors, the 30-year-old Serb hasn’t had a job for some time so the family relies on the arrival of his mother’s pension.

Yet buried in the ground beneath this forgotten corner of former Yugoslavia is the prospect of becoming a new European front in the economic battle with Asia. Geologists are exploring the hilly landscape for the metal that’s become ubiquitous in modern technology: lithium.

“It would be a godsend if they can prove lithium reserves,” said Antic, as his mother counted out the dinars handed to her by a merchant who also delivered milk, rolls and butter to them in Klinovac, a hamlet of barns, stone houses and more goats than cars. “This is the least developed part of Serbia and we are at a dead end.”

Exclusive: Fake-branded bars slip dirty gold into world markets – by Peter Hobson (Reuters Canada – August 28, 2019)

August 29, 2019

https://ca.reuters.com/

LONDON (Reuters) – A forgery crisis is quietly roiling the world’s gold industry. Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner for narcotics dealers or warlords.

In the last three years, bars worth at least $50 million stamped with Swiss refinery logos, but not actually produced by those facilities, have been identified by all four of Switzerland’s leading gold refiners and found in the vaults of JPMorgan Chase & Co., one of the major banks at the heart of the market in bullion, said senior executives at gold refineries, banks and other industry sources.

Four of the executives said at least 1,000 of the bars, of a standard size known as a kilobar for their weight, have been found. That is a small share of output from the gold industry, which produces roughly 2 million to 2.5 million such bars each year.

Argentina opposition candidate Fernandez meets with mining companies, governors – by Cassandra Garrison (Reuters U.S. – August 26, 2019)

August 28, 2019

https://www.reuters.com/

BUENOS AIRES (Reuters) – Argentina’s opposition candidate Alberto Fernandez told mining companies and governors from key mining provinces on Monday that exports were “the only solution” for Argentina, his coalition said.

Fernandez, the front-runner for October’s presidential election, told the companies that his team has been working on a plan to create a legal framework that provides certainty for investments in the Vaca Muerta shale oil play and the country’s lithium mining sector, according to a press release about the meeting from his “Frente de Todos” coalition.

Speaking in front of representatives for companies with mining activity in Santa Cruz and Catamarca provinces, Fernandez also said he wanted to promote the flow of dollars into Argentina, without putting controls on taking money out, a source present for the meeting said, adding that his comments were “reassuring.”

Province starts over on Ring of Fire consultation process – by Staff (Northern Ontario Business – August 17, 2019)

August 28, 2019

https://www.northernontariobusiness.com/

Ford government finally ditches 2014 Regional Framework Agreement with Matawa First Nations

The Ford government is taking a “fresh start” with area First Nations toward building a road to the Ring of Fire.

With no results to show from the previous government’s attempt at a regional dialogue on how to do mine development in the Far North, the Ford government is scrapping the Regional Framework Agreement (RFA), started five years ago, and is reaching out to the communities for a new approach.

Greg Rickford, minister for Indigenous affairs, energy, Northern development and mines, made the announcement on Aug. 27 in Sault Ste. Marie at Algoma Steel, the future site of Noront Resources ferrochrome processing plant, which will process chromite ore from the Ring of Fire.