(Bloomberg) — Investors need to adopt a new approach to the mining sector if the industry is to meet the growing demand for minerals and metals needed for the green transition.
That’s the central message in a report published Tuesday by a coalition of some of the world’s biggest investors, including California State Teachers’ Retirement System and Allianz Investment Management.
https://www.northernontariobusiness.com/
Four northwestern Ontario mining proponents snag funding for road, transmission line and engineering work
Four copper and lithium mine developers in northwestern Ontario, collectively, will be pocketing almost $14 million in federal funding to build access roads and power lines into their future mine sites.
Federal Energy and Natural Resources Minister Jonathan Wilkinson delivered the news in Thunder Bay, Oct. 7, that $13.8 million is earmarked for five mining-related projects – including two with Sudbury’s Frontier Lithium – that will facilitate the mining and movement of these critical minerals for processing and eventually to the electric vehicle supply market.
https://www.northernontariobusiness.com/
Z’gamok Enterprises acquires majority ownership of Sudbury contractor Legend Mining
New ownership is at the helm of Legend Mining. Z’gamok Enterprises Inc. (ZEI) has acquired a 51-49 per cent controlling interest in the Sudbury mining contractor. The deal, a year in the making, was finalized Sept. 4.
Diving into underground mining services had been something the organization has been thinking and strategizing about for a decade. ZEI, an economic development organization owned and operated by Sagamok Anishnawbek is located south of Massey on the north shore of Lake Huron. It runs three businesses that collectively employ 130.
(Bloomberg) — Chen Jinghe was not long out of university when a government official handed him the assignment that would change his life. Go to Zijin mountain, he was told, and find gold.
It was 1982, and the geology graduate found himself on forested slopes in the remote, humid highlands of southeastern China. The bet paid off. The deposit his team eventually discovered became the nation’s biggest gold mine — and the foundation for a $67 billion state-owned behemoth that is today driving copper supply growth and gaining ground on some of the most established names in the global resources industry.
https://www.cbc.ca/news/canada/north/
Exploration efforts steady among resource sector
While the price of gold has been climbing steadily, now selling for more than $2,600 USD per ounce, one mining CEO says financing is still hard to come by.
The future of the N.W.T.’s mining industry remains far from certain. Current exploration projects are focused on gold and lithium. Both had company representatives in Yellowknife this week for presentations and to strengthen community relationships.
Paladin Energy’s (ASX: PDN) proposed takeover of Canadian explorer Fission Uranium (TSX: FCU) has hit a roadblock after receiving a notice from the Canadian government informing the company the deal is now the subject of a national security review.
The Australian miner entered in June into an agreement with Fission Uranium to acquire it for C$1.14 billion ($846m), as strong prices for the fuel used in nuclear reactors has lit fire under market consolidations and deals.
Efforts to get the province to the table to talk about conservation planning processes remain at a stand-still
TIMMINS – With a nickel mine in Ontario’s Far North aiming to be in production in six years, the Timmins business community had a chance to learn more about the project. Wyloo CEO Kristan Straub talked about the ongoing work at the proposed nickel and chromite mine in the Ring of Fire today (Oct. 3) at the Timmins Chamber’s State of Mining series.
The proposed Eagle’s Nest Mine is located 500 kilometres northwest of Thunder Bay in a minerally enriched area of the James Bay wetlands.
The impact of the above and below-ground operations at Nutrien’s potash mines span multiple generations, fuelling the local economy and feeding the world. Celebrating 65 years in the Saskatchewan potash industry, Nutrien gave a special tour of its Allan mine east of Saskatoon.
Building started in 1964, and the first tonne of raw ore was pulled up to the surface in 1968. Over the last six decades, it’s seen giant leaps in technology which have further improved safety and productivity.
(Kitco News) – Even as the market signals overbought conditions and Asian demand dries up, the increasing chances of a direct military confrontation between Iran and Israel is driving safe-haven inflows into gold, according to Daniel Ghali, commodity analyst at TD Securities.
“Selling activity in Gold has been a bit limited, but the top traders still liquidated nearly 5t of notional Gold over the last week,” Ghali said in a research note. “This contrasts with Western investor sentiment. Our read of macro fund positioning remains at its highest levels since the Brexit referendum in July 2016; re-levering from risk parity and vol-target funds is supporting a reaccumulation from CTAs and prices continue to rally without challenge.”
https://www.theglobeandmail.com/
The Saskatchewan Research Council is attempting to go head-to-head with China and prove the case for private investment in rare earth minerals by building North America’s first rare earths processing plant.
Rare earths are mined in vanishingly small quantities worldwide, but owing to their magnetic, fluorescent and conductive qualities, they have crucial uses in tech, robotics, low-carbon power and military applications.
Oliver McPherson-Smith, Ph.D., is the director of the Center for Energy & Environment at the America First Policy Institute.
America’s vast mineral wealth has underwritten our nation’s evolution into an economic and military superpower. From the gold rush that fueled the race westward almost 200 years ago to the iron ore and coal miners that powered the construction of bridges, skyscrapers, rail lines and military vessels, mining has been central to American prosperity.
Sadly, America’s commitment to mining its resources has fallen victim to progressive dogma. Now, Beijing’s vast influence over global mineral supply chains poses an economic threat to the United States. While the Biden-Harris administration is hamstringing American mining projects in red tape, Chinese miners are preemptively flooding the global market to keep American minerals in the ground.
China’s significant stimulus measures have kicked the prices of key metals higher, and the gains have largely been sustained even amid a debate as to whether Beijing has actually done enough to boost the world’s second-biggest economy.
The raft of announcements last week, which included lower interest rates and easier home purchase terms, saw metals prices respond, especially those with a high degree of China exposure, such as iron ore.
https://www.cbc.ca/news/indigenous/
Delegation to meet with federal leaders in Ottawa amid talks on proposed free trade deal
Indigenous women from Ecuador are in Ottawa this week raising concerns a proposed free trade agreement could enable human rights abuses by Canadian mining companies operating on their ancestral lands.
The delegation travelled thousands of kilometres from the rural reaches of the Ecuadorian Amazon to Canada’s capital city, bringing what they say is an urgent message of grave concern to the doorstep of Parliament Hill.
(Bloomberg) — A spat between two wealthy South Korean families over the future of an $11 billion zinc empire has descended into a bitter battle for control that could hamper efforts to diversify the global supply of energy-transition metals.
The power struggle over Korea Zinc Co. — founded by two friends who fled North Korea, and still held by the Choi and the Chang families — has captured headlines. Even in a country of large conglomerates, where inheritance fights are common, few involve private equity backers stepping into the ring to stand against wealthy establishment names.
https://www.thesudburystar.com/
Several big companies planning to launch or expand operations in city
Sudbury’s role as a vital mining hub was highlighted during a three-day conference last week, and the city was proud to be part of it. “The conversations we’ve been having this week at MINExpo confirm what we’ve always known – Greater Sudbury is a critical player in the global mining industry,” said Mayor Paul Lefebvre in a release. “Hearing first-hand from these industry leaders that we are vital to their expansion plans is a testament to the strength of our community and the sector.”
Lefebvre and city representatives met with a number of key industry leaders, including original equipment manufacturers, potential national and international investors, as well as local organizations, to explore collaboration and expansion opportunities.
