https://www.nationalobserver.com/
A Swiss-based mining company with a sketchy foreign business record that won approval to take over Teck Resources’ B.C. coal mines has MPs from multiple parties and environmental groups up in arms.
François-Philippe Champagne, federal Minister of Innovation, Science and Economic Development, approved mining giant Glencore’s $12.3-billion takeover of Teck Resources’ coal mines — called Elk Valley Resources — on July 4.
https://www.cbc.ca/news/politics/
Unanimous decision says Crown violated revenue-sharing agreements, but does not award settlement
For the past 150 years, the governments of Ontario and Canada have made a “mockery” of their treaty obligations to the Anishinaabe of the upper Great Lakes, the Supreme Court of Canada ruled Friday.
In a unanimous decision, the top court said the ongoing failure to increase the annual per-head resource extraction revenues since 1875 for the residents of two First Nations groups has undermined the honour of the Crown.
The KNS nickel plant – one of three in the French overseas territory of New Caledonia – has announced it will make its 1,200 employees redundant by the end of August in the absence of a “finalised offer” from a buyer.
Koniambo Nickel SAS, which is in serious financial difficulty with a colossal debt of over €13 billion, had been looking for a buyer since the departure last February of the Anglo-Swiss group Glencore – its main shareholder.
https://www.theglobeandmail.com/
Gus Carlson is a U.S.-based columnist for The Globe and Mail.
Ford Motor Co.’s decision to produce gas-powered trucks at its Oakville, Ont., assembly plant and push off its electric-vehicle plans is yet another reminder that free-market realities rooted in customer demand win over ideology and government mandates every time.
Ford’s move, announced last week, reflects continued hesitance among car buyers about a wholesale shift to an all-electric future that has slowed EV sales globally and put automakers’ investments in the emerging technology at risk. Ford, for example, has said it lost US$4.7-billion on EVs in 2023, and expects to lose US$5.5-billion this year.
For more info on this project: https://troilusgold.com/
Troilus Gold Corp’s (TSX:TLG) is systematically advancing and de-risking the gold and copper Troilus project, one of Canada’s largest undeveloped gold-copper assets, toward a potential mine restart. The company holds a 435km2 land package in one of the world’s richest gold regions within the prolific Frôtet-Evans Greenstone Belt, in Quebec, Canada and in the northeastern portion of the prolific Abitibi Greenstone Belt.
Quebec, Canada is a tier 1 mining jurisdiction having consistently ranked as one of the world’s most attractive mining jurisdictions for exploration and development companies, most recently as the 5th most attractive jurisdiction globally according to the 2023 Fraser Institute’s annual survey of the mining industry).
(Bloomberg) — The world’s biggest miners are back in serious dealmaking mode and Teck Resources Ltd. is taking center stage.
The Canadian miner, which has exited its coal business with a sale this month to Glencore Plc, is drawing attention from across the industry because of its attractive copper assets, as the biggest names position for the next wave of activity in the wake of BHP Group’s failed bid for Anglo American Plc.
Jakarta wants to help its industry qualify for tax credits under Joe Biden’s initiative to build a US electric vehicle supply chain
Indonesia is trying to reduce Chinese investment in new nickel mining and processing projects to help its industry qualify for tax breaks in the US, as the Biden administration seeks to curb Beijing’s influence in the electric vehicle supply chain.
Generous tax breaks are available from 2025 under President Joe Biden’s Inflation Reduction Act, but they will not apply to EVs containing batteries and critical minerals such as nickel sourced from “foreign entities of concern”, including some companies with more than 25 per cent Chinese ownership.
LONDON, July 29 (Reuters) – Funds have slashed their long positions on the copper market as high and rising inventories cause a collective re-think of the market’s short-term prospects. Investors rushed to buy copper during the second quarter, betting the metal would benefit from a turn in the economic cycle and a green energy demand booster.
The bull narrative was spiced with concern that supply simply wouldn’t keep up, creating yawning deficits and potentially explosive higher prices. The reality has turned out slightly different.
Revenue from the Ekati mine’s rough output fell 27% during the second fiscal quarter, according to owner Burgundy Diamond Mines.
The company sold 1 million carats from the Canadian deposit for $106 million for the three months that ended June 30, it said last week. That compares to the sale of 1.3 million carats for $145 million during the same period a year ago.
https://www.theglobeandmail.com/
The Yukon government has taken over some of the environmental-mitigation efforts stemming from a major gold-processing plant failure in the territory because operator Victoria Gold Corp. failed to meet a key government directive.
Four million tonnes of cyanide-laced rocks collapsed on June 24 at an outdoor heap-leach facility at the Eagle gold mine in central Yukon operated by Victoria Gold. Two million tonnes of material breached the company’s containment zone and elevated levels of cyanide were later found in a water body adjacent to the mine.
Canada’s The Metals Company (NASDAQ: TMC) plans to be ready to apply for a licence to start mining the seabed before the end of this year, with production expected to start at the end of the first quarter of 2026.
TMC, a deep-sea mining pioneer, has long said it would submit its application after the United Nations’ International Seabed Authority (ISA) current meeting, which ends on July 26. Gathered in Kingston, Jamaica, the 36-member ISA council is negotiating the latest draft of the anticipated seabed mining rules.
https://www.theglobeandmail.com/
Canada’s First Quantum Minerals Ltd. has reached an agreement with Jiangxi Copper Co. Ltd. that significantly curbs the power of its major China-based investor and makes Jiangxi Copper far less likely to act as a mergers and acquisitions kingmaker.
The company has an 18.5-per-cent stake in First Quantum. Its investment predates restrictions introduced by Canada’s federal government that severely limit investment into Canadian critical minerals companies by entities tied to the Chinese state. Jiangxi Copper is the largest copper smelting company in the world and is part-owned by China’s Jiangxi province.
COSCUEZ, Colombia (AP) — Deep inside mountain tunnels where the heat is so intense it causes headaches, women with power tools are chipping away at boulders in search of gems. They have opened a difficult path for themselves in Colombia’s emerald industry, a sector long dominated by men.
The lack of job opportunities, combined with the hope of a find that will make them rich, has pushed the women into mining. Colombian emeralds are known around the world for their quality and the best can be sold for thousands of dollars, though most people in the industry aren’t wealthy.
https://www.northernminer.com/
Telling the stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems, a new book published this month – 102 Things to Do with a Hole in the Ground – showcases remarkable post-mining reclamation projects around the world.
The book is a sequel to the original 101 Things to Do with a Hole in the Ground, published in 2009 by the Eden Project — a UK-based example of successful mine site transformation. The Eden Project successfully turned the site of former clay mines in Cornwall, UK, into a thriving botanical garden housed by geodesic domes designed by Grimshaw Architects.
https://www.cbc.ca/news/canada/north/
Victoria Gold excavated a pit to hold contaminated solution — but failed to line it
Yukon government inspection reports released to the public this week reveal the scale of what transpired at the Eagle mine site near Mayo — and what’s being done by Victoria Gold to address it. An inspection report dated July 20 describes a series of failures by Victoria Gold to adequately address cyanide solution leaks.
The company’s post-failure water treatment plan “does not sufficiently describe” plans to store and treat daily leaks of 15,000 to 20,000 cubic metres of toxic solution — enough liquid to fill up to eight Olympic swimming pools.
