Republic of Mining

How countries are getting tougher with mining companies – by Barbara Lewis (Reuters U.K. – April 4, 2019)

April 4, 2019

https://uk.reuters.com/

LONDON (Reuters) – A mix of political populism, higher commodity prices and the expectation electrification will spur demand for some raw materials has led resource-holding governments to change the rules for miners operating in their countries.

In most cases, governments are seeking to increase their share of profits, rather than all-out resource nationalism, although Mongolia has been trying to nationalise a stake in a copper mine. The toughness is not universal.

Some governments see the hardened stance of other countries as a chance to lure investment. Ethiopia is rolling out pro-business reforms after Prime Minister Abiy Ahmed swept into office last year.

Saudi Arabia’s Gold Miner Plans to Be a Global Top-20 Supplier – by Abbas Al Lawati and Donna Abu-Nasr (Bloomberg News – April 3, 2019)

April 4, 2019

https://www.bloomberg.com/

Saudi Arabian Mining Co. wants to more than double gold output within five years. Maaden, as the state-backed company is known, plans to boost gold output from about 415,000 ounces this year to one million by 2025, Chief Executive Officer Darren Davis said in an interview.

That would catapult the oil-rich kingdom from a marginal gold producer to one of the world’s top-20 suppliers.

Gold demand is rising as U.S.-China trade tensions and fear of a recession persist. With declining prices of some commodities including aluminum, which generated 40 percent of Maaden’s revenue last year, the company may be counting on the precious metal’s allure as a safe-haven investment to soften the hit.

The Future Looks Bright For Palladium Prices – Platinum Group Metals CEO – by Neils Christensen (Kitco News – April 3, 2019)

April 4, 2019

https://www.kitco.com/

(Kitco News) – Palladium prices have fallen sharply from last month’s record highs, but the metal’s long-term potential will continue to drive prices higher for years, amid an economic downturn, according to one mining executive.

In a recent interview with Kitco News, Michael Jones, president and CEO of Platinum Group Metals (NYSE: PLG TSX: PLG), said that his company continues to move forward with the development of its South African Waterberg PGM project as he sees further growth potential for palladium.

Jone’s comments come as palladium prices have fallen nearly 13% from March’s historic highs. June palladium futures last traded at $1,376.30 an ounce.

OPINION: The energy-hungry world isn’t waiting for Canada – by Dave McKay (Globe and Mail – April 4, 2019)

April 4, 2019

https://www.theglobeandmail.com/

Dave McKay is president and CEO of the Royal Bank of Canada.

History has placed Canada at a crossroads. No other country of 37 million people has access to more natural resources – and the brainpower to convert those resources into sustainable growth for a stronger society.

And yet, Canada is at risk of taking the wrong turn at the crossroads because some believe there are only two paths: one for economic growth, and the other for environment. We’re seeing this dilemma play out in Canada’s energy transition as we struggle to reconcile competing ideas.

We aspire to help the world meet its energy needs and move to ever-cleaner fuel sources. We aim to reduce our carbon footprint. We want Indigenous reconciliation and long-term partnership. And we hope to maintain the standard of living we have come to enjoy.

American machinations: Vivian Krause exposes U.S. money and tactics behind Canadian environmentalism – by Greg Klein (Resource Clips – April 23, 2019)

April 4, 2019

http://resourceclips.com/

This isn’t the kind of Yankee imperialism Canadian protesters typically protest. Powerful American interests pay Canadian environmental activists big, big money—well over half a billion dollars so far—that does nothing for the environment but undermines our economy and national unity.

That’s Vivian Krause’s message and, as the pipeline controversy gains intensity, her story’s gaining prominence. But, she argues, Ottawa still shows no intention of using its power to stop this foreign interference.

The money trail begins with huge American backers that include the Gordon and Betty Moore Foundation, the Rockefeller Brothers Fund, the William and Flora Hewlett Foundation, and the David and Lucile Packard Foundation, she says.

Why Canada’s diamond miners are on their knees – by Thomas Biesheuvel and Danielle Bochove (Bloomberg News – April 3, 2019)

April 4, 2019

https://www.bnnbloomberg.ca/

The story of how two prospectors, down to their last nickels, discovered diamonds in Canada’s frozen north is the stuff of legend. Back in 1982, Chuck Fipke and Stewart Blusson laid low in a pup tent by day while their competitor De Beers hauled 45-gallon drums of rock samples to a nearby outpost for transport to South Africa.

Using the long hours of summer sunlight north of the 65th parallel, the two searched for indicator minerals — bits of garnet, chromite or zircon often found with diamonds — while their opponent slept. Nine years later their treasure hunt culminated with the discovery of a carrot-shaped funnel of blue-grey kimberlite rock that would become Ekati — the first great diamond mine outside Southern Africa or Russia.

For all the drama associated with the discovery in Canada’s Northwest Territories — hacking through snow and ice taller than the average person, battling Arctic winds and temperatures of -50 degrees Celsius — what came next is proof that diamond mining in Canada is not for the faint of heart.

Licence to operate: understanding the biggest challenge for mining in 2019 – by Heidi Vella (Mining Technology – April 3, 2019)

April 3, 2019

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

A recent survey by EY Mining & Metals found that more than half of global mining companies believe that licence to operate, or acceptance and permission from communities and society, is the biggest risk to their business – jumping seven places up the list from last year. Heidi Vella finds out why this issue is a rising concern and how firms can adapt.

seven places up the list from last year. Heidi Vella finds out why this issue is a rising concern and how firms can adapt.

Today, miners are required to juggle many emerging challenges not traditionally associated with metals and mining, such as digitisation, automation and cyber security. Yet, though those are new issues to master, it is not technological disruption that is keeping mining CEOs up at night, but an issue individual companies and the industry as a whole have grappled with for some time: securing the social licence to operate.

COLUMN-Iron ore prices shift structurally higher on Vale woes – by Clyde Russell (Reuters U.S. – April 2, 2019)

April 3, 2019

https://www.reuters.com/

HONG KONG, April 2 (Reuters) – Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the likely temporary weather-related disruptions from Australia and the rather more serious safety outages in Brazil.

A major tropical cyclone hitting the main producing and shipping areas in the world’s largest iron ore miner was always likely to boost prices, and indeed, markets largely responded as expected.

Iron ore futures on the Dalian Commodity Exchange rose 4.2 percent on Tuesday to reach 665.5 yuan ($99) a tonne, the most since the contract starting trading in 2013.

Northwest prospectors recognize leaders in mining, exploration – by Staff (Northern Ontario Business – April 3, 2019)

April 3, 2019

https://www.northernontariobusiness.com/

Goldcorp’s Musselwhite Mine, Great Bear’s Dixie Project among best in field

The prospecting community in northwestern Ontario recognized and celebrated its superstars for 2018. The Northwestern Ontario Prospectors Association (NWOPA) handed out the hardware at its annual awards dinner during its Thunder Bay spring symposium, April 2.

The Developer of the Year Award went to Goldcorp’s Musselwhite Mine for its new $90-million materials handling project, designed to improve ore feed to its mill.

The project, which was completed on time and on budget, increases production by 20 per cent, cuts down on underground haul distances and ventilation costs.

Environmental concerns raised after CanPacific proposes new potash mine near Regina (CBC News Saskatchewan – April 2, 2019)

April 3, 2019

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

CanPacific documents say majority of site would be on cultivated land

An environmental group is expressing concern about a proposed 3.25 million-tonne per year CanPacific Potash mine near the village of Sedley, Sask.

CanPacific submitted its final environment impact statement to the province in January, the company says, and the project is pending environmental assessment approval.

Trevor Herriot, spokesperson for the group Public Pastures — Public Interest, said his concerns began when he read the environmental impact statement for the proposed mine near Sedley, which is about 50 kilometres southeast of Regina.

Harte Gold aims for 800 t/d at Ontario mine (MiningWeekly.com – April 2, 2019)

April 3, 2019

http://www.miningweekly.com/

Junior miner Harte Gold will aim for an 800 t/d operation at its Sugar Zone mine, the company said on Tuesday, announcing that it was finalising a maiden feasibility study for the mine.

The Sugar Zone mill, which started up last year, is permitted to operate at 575 t/d. Harte reported that it would publish the results of the feasibility study “shortly”. It noted that the study validated an 800 t/d operation with sufficient resources to support a 14-year mine life, based on the current indicated resources.

The study also examined the potential to further expand throughput in the future. Harte previously indicated that it would aim to ramp up Sugar Zone to 1 400 t/d in a third phase.

China Is Building the Batteries of the Future – by Damien Ma and Neil Thomas (Foreign Policy – April 2, 2019)

April 3, 2019

https://foreignpolicy.com/

Tesla is the United States’ only shot at critical new technology.

Tesla is a company that its critics love to hate. A swarm of short sellers have bet $10 billion that the electric carmaker will fail. They tweet incessantly about Tesla’s loss-making operations and even fly drones over its facilities to verify production figures. Elon Musk, Tesla’s erratic CEO, has berated these short-sellers as “haters.”

Betting against Tesla’s prospects may profit short-sellers, but it could end up dashing America’s only hope to build supply chains for a technology that will reshape the future economy: the lithium-ion (li-ion) battery.
Originally commercialized by Sony in the 1990s, these batteries’ high-energy density, long recharging cycles, lightweight structure, and relative safety make them ideal for powering everything including laptops, smartphones, and electric vehicles.

Jewelers must say whether diamonds are mined or synthetic: U.S. FTC – by Diane Bartz and Barbara Lewis (Reuters U.K. – April 3, 2019)

April 3, 2019

https://uk.reuters.com/

WASHINGTON/LONDON (Reuters) – The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, has sent warning letters to eight companies to insist they distinguish in advertisements between diamonds from mines and those made in laboratories, it said on Tuesday.

The FTC said it had found instances where the eight companies advertised diamond jewelry “without clearly and conspicuously disclosing that the diamonds are laboratory-created,” according to the letter.

The agency declined to identify the recipients of the letters. An unredacted version of one of the letters seen by Reuters identified that recipient as Diamond Foundry, a California company that makes laboratory diamonds.

Thanks, Daddy! Father buys his daughter a £10.6MILLION, 88.22-carat diamond in Hong Kong – by Connor Boyd (Daily Mail – April 2, 2019)

April 3, 2019

https://www.dailymail.co.uk/

A father has spent £10.6million on an 88-carat ‘flawless’ diamond for his daughter and named it after her. The Japanese parent purchased the precious stone at the Hong Kong Sale of Magnificent Jewels and Jadeite, held on Tuesday.

He named it the ‘Manami Star,’ after his eldest daughter. The diamond – considered flawless because it has no imperfections – is one of only three oval diamonds over 50 carats to appear at auction.

The stone is part of a rare subgroup known as Type IIa – considered the most valuable and pure in the world as they contain little or no nitrogen atoms in the crystal structure.

Panelists at Nunavut Mining Symposium want link to Canada’s road system – by Jane George (Nunatsiaq News – April 2, 2019)

April 3, 2019

https://nunatsiaq.com/

Governments of NWT and Nunavut and Inuit orgs united in call for North-South road connection

At the Nunavut Mining Symposium, now underway in Iqaluit, you don’t have to look far to find supporters of a road linking Nunavut to the Northwest Territories or Manitoba, to reduce the North’s dependence on marine transportation and satellite telecommunications.

At a Monday morning panel session called, “Maybe the resources are the road?,” the Northwest Territories’ industry minister, Wally Schumann, Nunavut’s transportation minister, David Akeeagok, and Kitikmeot Inuit Association President Stanley Anablak all made pitches for roads and how the federal government should come up with money to help make that happen.

Anablak, a promoter of the Grays Bay port and road project, which would aim to join the Arctic coast to mines in the western Kitikmeot and eventually the N.W.T., said that proposed project in western Nunavut finally has regained Nunavut government support.