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Urgent cash call needed for Wawa gold explorer – by Ian Ross (Northern Ontario Business – September 9, 2024)

https://www.northernontariobusiness.com/

September is a pivotal month for Red Pine Exploration in seeking to raise $9.5 million

Red Pine Exploration needs a fresh infusion of cash, quickly, to kickstart a drilling program at its Wawa Gold Project. The struggling Toronto junior miner is out of pocket and is looking to raise $9.5 million this fall in order to regain the confidence of the market and lay out the big picture of what a mining operation might look like down the road.

In a Sept. 4 webinar, new CEO Michael Michaud projected confidence and enthusiasm in selling the blue-sky potential of its gold deposit, two kilometres outside Wawa.

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BACK ROADS BILL Roadside labour monument remembers tragedy – by Bill Steer (Timmins Today – September 7, 2024)

 

https://www.timminstoday.com/

This week Bill finally stops at a roadside monument he should have long ago

Labour Day has just passed; it is an important statutory holiday that means more than the back-to-school transition and the pending end of summer.

Always on the way to somewhere else on the back roads I am ashamed to say, over decades, I have passed by this roadside monument far too many times. That misplaced streak ended recently. At this location Highway 11 North is straight as an arrow. You can see the overgrown derelict farmsteads of “broken promises and shattered dreams,” along the way.

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Environment solution: New metals refinery for nickel and cobalt opens in Ohio – by Isabella O’Malley (September 7, 2024)

https://apnews.com/

In a step forward for efforts to acquire the metals crucial to addressing climate change, on Monday a new plant that can extract nickel and cobalt from scrap material opens in Fairfield, Ohio. The resulting metals will be used in new batteries and other clean energy markets.

Extracting metals out of old material avoids the environmental damage of open pit mining and prevents the metals from ending up in the landfill. Many see this as the future, even if it takes decades to become reality.

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Northern B.C. coal mine comes back to life after 24 years – by Hanna Petersen (CBC News British Columbia – September 09, 2024)

https://www.cbc.ca/news/canada/british-columbia/

Company, mayor hope Quintette Mine will bring huge boost to Tumbler Ridge

After 24 years, a steel-making coal mine in northeastern B.C. has roared back to life. Last week, Conuma Resources received permits from the province giving it the green light to restart operations at a portion of the Quintette Mine, located 20 kilometres south of Tumbler Ridge.

“We were very excited to receive it,” said Conuma Resources CEO Brian Sullivan. “We’re going to spend upwards of $500 million bringing it back into production. It will have a permanent workforce of more than 400 permanent good paying jobs.”

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Canada Nickel may net $500m Ottawa loan for giant Crawford project – by Colin McClelland (Mining.com – September 6, 2024)

https://www.mining.com/

Canada Nickel (TSXV: CNC) says a Canadian government agency might loan it $500 million for its Crawford project in northern Ontario, which could become the world’s largest nickel-cobalt sulphide development. Its shares rose.

Export Development Canada (EDC), which finances and offers other help to domestic companies, sent a letter of intent to Canada Nickel in late August, it said on Friday. It would be combined with $600 million in tax credits expected from Ottawa to help build the C$3.5 billion capex project near Timmins over two stages, the company said.

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Canadian billionaire Barry Zekelman weighs his options after amassing equity stake in Algoma Steel – by Niall McGee (Globe and Mail – September 6, 2024)

https://www.theglobeandmail.com/

Canadian billionaire Barry Zekelman isn’t ruling out a takeover of Algoma Steel Group Inc. as he weighs several options after his privately held steel products company recently took an equity stake in the venerable Canadian steel maker.

Chicago-based Zekelman Industries in late July revealed in a 13D filing with the U.S. Securities and Exchange Commission that it amassed a 5-per-cent stake in Sault Ste. Marie, Ont.-based Algoma. Such filings are required for activist as opposed to passive investors. In the filing, Zekelman Industries said it may engage with management and the board, or other shareholders about “potential business combinations, dispositions or other transactions.”

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Is Diamond Production on the Decline? – by Avi Krawitz (Rapaport Magazine – September 2, 2024)

Home

The drop in diamond recoveries is a response to market conditions, but also a reflection of diminishing prospects for viable new mines.

Diamond miners are postponing sales and reviewing their production plans amid the weak market environment.

“We have taken the proactive decision to defer the upcoming August-September tender from our South African operations, to support steps taken by major producers to restrict supply in this weaker demand period,” Petra Diamonds said in an August 6 statement.

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Premium Nickel eyes 2025 prefeasibility at Selebi mine in Botswana – by Blair McBride (Northern Miner – September 2024)

https://www.northernminer.com/

Results from infill drilling at Premium Nickel Resources’ (TSXV: PNRL) past-producing Selebi North mine in Botswana continues to build confidence, less than a month after the company posted an initial resource for the project.

Hole SNUG-24-106 in the South Limb target returned 26.3 metres of 1.09% copper, 1.56% nickel, and 0.08% cobalt from 515.7 metres depth, including 16.1 metres of 1.54% copper, 2.1% nickel and 0.11% cobalt, the company reported Thursday. The infill drilling is aimed at upgrading inferred resources, part of a 20,000-metre underground drill program whose assays weren’t included in the new resource.

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Do the Chinese come to Zimbabwe to invest or to pillage our resources? – by Tendai Ruben Mbofana (The Zimbabwean – September 7, 2024)

https://www.thezimbabwean.co/

President Emmerson Dambudzo Mnangagwa has returned from China, where he attended the Forum for China-Africa Cooperation (FOCAC). During the visit, Mnangagwa visited quite a number of companies, including Huawei, as well as giving a speech at the FOCAC, and later addressed the 8th Conference of Chinese and African Entrepreneurs.

In a statement, the president declared: This is the best time to invest in Zimbabwe. Oh really, Mr. President! What a bold thing to say! However, has there been any genuine investments by the Chinese in Zimbabwe?

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Katoro Gold expands into uranium exploration through Ontario acquisition – by Darren Parker (Mining Weekly – September 9, 2024)

https://www.miningweekly.com/

Aim-listed Katoro Gold has expanded into uranium exploration with the acquisition of the White Pine uranium project in Ontario, Canada. The acquisition was made through its subsidiary, Katoro Canada, which now holds a 100% interest in the project.White Pine covers an area of 8 036 ha and is located close to the Trans-Canada Highway, about 75 km southeast of the town of Dryden, in the Kenora district of north-west Ontario.

While the project is still in the early stages of exploration, public domain data has indicated the potential for significant uranium discovery at White Pine. Early results include highly anomalous uranium levels in lake sediments collected from the project area.

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Iamgold’s Côté Gold: A model for modern mining and sustainability – by Tamer Elbokl (Canadian Mining Journal – September 9, 2024)

https://www.canadianminingjournal.com/

The newest gold mine in northern Ontario has the potential to become the biggest in Canada. Iamgold’s Côté Gold open pit mine had its official ribbon-cutting ceremony at the end of May 2024. The company has declared commercial production at its 60%-owned Côté mine in northern Ontario, the company’s third producing gold mine and second in Canada.

This mine will be one of Canada’s largest gold producers with an 18-year mine life. During the first six years of operation, Côté Gold’s output will be 495,000 oz., and over the life of the mine, it will average 365,000 oz. per year. Construction of Côté began in 2020 and was expected to take three years to build. The mine cost $1.9 billion to build.

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Indonesia Sees Nickel Holding Near Current Levels on New Plants – by Eddie Spence (Bloomberg News – September 5, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Indonesia’s government sees nickel prices stabilizing near current levels in the future, as new plants in the world’s biggest producer offset rising demand and keep the market well supplied.

Prices on the London Metal Exchange should hold around $15,000 to $16,000 a ton in the short to medium term, Septian Hario Seto, a deputy at the Coordinating Ministry for Maritime Affairs and Investment, said in a presentation in Bali on Thursday.

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The South African who inherited a R170 billion diamond legacy – by Kirsten Minnaar (Daily Invester – September 1, 2024)

https://dailyinvestor.com/

Nicky Oppenheimer was born into one of South Africa’s most formidable diamond-mining families, but when hard times hit, he had to leave the family business.

Despite being the second-richest man in South Africa with a net worth of $9.5 billion (R171 billion) and being part of one of the country’s most influential families, Oppenheimer is incredibly reserved and humble. Nicholas Frank Oppenheimer was born in 1945 in Johannesburg into a diamond dynasty.

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Column: Fading China optimism hits iron ore prices, but not yet volumes – by Clyde Russell (Reuters – September 3, 2024)

https://www.reuters.com/

China’s iron ore futures suffered their worst one-day price drop for almost two years on Monday, but the evaporating optimism in the market has yet to show up in imports of the key raw material for making steel. Contracts on the Dalian Commodity Exchange ended day trading on Monday at 723.5 yuan ($101.83) a metric ton, 4.83% down from the previous close and the largest daily loss since Oct. 31, 2022.

The weakness was mirrored by Singapore Exchange futures , which closed at $96.60 a ton, down 2.13% from the prior close and the lowest since Aug. 16. The catalyst for Monday’s weakness was a raft of data that indicated that the world’s second-biggest economy is struggling to gain momentum.

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Wall Street experts turn bearish on gold, Main Street investors don’t stop believing – by Ernest Hoffman (Kitco News – September 6, 2024)

https://www.kitco.com/

(Kitco News) – Gold prices marked another less-than-scintillating string of trading sessions this week, punctuated by a series of moderate highs and lows on both sides of the $2,500 level to ultimately arrive not far from where they began.

Spot gold kicked off the week trading at $2,504.37, before dipping down to $2,490 per ounce during the Asian trading session, and grinding higher to $2,506 through the European and thinly-traded North American session, with most traders observing the Labor Day holiday.

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