Twitter

High suicide rate exists among miners, research indicates – by Jim Moodie (Sudbury Star – July 8, 2024)

https://www.thesudburystar.com/

Local study revealed one in 10 had considered taking their own lives, and a similar percentage had PTSD

A recent report from the U.S. that points to a high suicide rate among miners comes as sobering but not surprising news to folks locally who have done some of their own research on mental-health issues within the industry.

“It’s not a shock but it continues to sadden me that we are seeing those kind of numbers,” said Michel Lariviere, a Laurentian Unversity professor who co-authored a study through the Centre for Research in Occupational Safety and Health on levels of stress, depression and suicidal tendency among workers in this field. “And in a community that is still very much a mining community, it reflects on collective wellbeing for an entire city.”

Read more

BHP’s Nickel West closure could mark end of Australian nickel industry, analyst says – by Emily JB Smith and Ethan French (Australian Broadcasting Corporation – July 11, 2024)

https://www.abc.net.au/

The closure of mining giant BHP’s nickel operations in Western Australia will have ripple effects far and wide and could signal “the end of the Australian nickel industry”, according to a prominent mining analyst.

BHP announced yesterday it would begin suspending operations at the Kwinana nickel refinery in Perth, the Kalgoorlie smelter and its major mines at Mt Keith and Leinster in the state’s Goldfields from October. BHP said market conditions were to blame for its decision to either redeploy or offer redundancies to 1,600 of its frontline workers, while hundreds more contractors would be impacted.

Read more

Under pressure, Justin Trudeau announces when Canada expects to hit military spending commitments to NATO – by Alex Ballingall (Toronto Star – July 12, 2024)

https://www.thestar.com/

“Mike Johnson, the Republican Speaker of the U.S. House of Representatives, said this week that it is “shameful” for Canada to keep riding his country’s military coattails.”

WASHINGTON — After enduring criticism over Canada’s level of defence spending during this week’s NATO summit, Prime Minister Justin Trudeau dismissed the alliance’s key metric for military contributions — which several allies have touted as a vital reflection of each country’s agreed fair share — as little more than a “crass mathematical calculation.”

In a heated justification of Canada’s defence policies, Trudeau pushed back against the suggestion that the amount spent on military expenses by his government has been a “political problem” at the summit. He said Canada has “stepped up massively” and committed more than $175 billion to defence — much of it over the next two decades — since he took office in 2015, and expressed skepticism in the relevance of the NATO benchmark that asks all members to spend at least two per cent of their gross domestic product (GDP) on defence.

Read more

Canada’s gold exports to China rise, shining through the trade tensions – by Gabriel Friedman (Financial Post – July 9, 2024)

https://financialpost.com/

Precious metals now represent Ontario’s largest export to the country

China’s demand for gold has risen in the past few years, helping to usher in record-breaking prices and a growing trade relationship with Canada for the shiny metal.

In the past, interest rates in the United States and flows into or out of gold-backed exchange-traded funds (ETFs) were used by many analysts as a quick way to predict the direction of the gold price. In recent years, though, U.S. interest rates rose and gold-backed ETF holdings contracted, which should have softened gold prices, but the price of bullion reached all-time highs, currently at US$2,371 per ounce.

Read more

Canadian critical mineral shares fall after tighter M&A criteria – by Divya Rajagopal (Reuters – July 8, 2024)

https://www.reuters.com/

TORONTO, July 8 (Reuters) – Shares of Canadian companies that mine critical minerals such as copper and uranium fell on the Toronto Stock Exchange (TSX)on Monday as investors assessed the potential impact of Canada’s announcement last week that it would restrict large mergers and acquisitions in the sector.

Last Thursday, Industry Minister Francois-Philippe Champagne cleared London-listed Glencore’s takeover of the coal unit of Teck Resources under strict conditions after taking into account the “net benefit” that the deal would carry for Canadians.

Read more

Grassy Narrows First Nation to launch legal action against Ontario to mandate consultation on mining claims – by Niall McGee (Globe and Mail – July 11, 2024)

https://www.theglobeandmail.com/

A Northern Ontario First Nation plans to launch a legal action against the province later this week aimed at requiring the mining industry to consult with the Indigenous people before staking claims.

Ontario’s free-entry system makes it easy for individuals and companies to file a claim online in return for a nominal fee. On Friday, Grassy Narrows will hold a press conference at Queen’s Park, announcing that it has served the province in the Ontario Superior Court of Justice.

Read more

Canada is struggling to complete large natural resources projects, says C.D. Howe report – by Ian Ross (Northern Ontario Business – July 4, 2024)

https://www.northernontariobusiness.com/

Report says governments need to make timely permit approvals, respect division of powers, to encourage investment

Canada’s permitting delays and regulatory uncertainty is a cooler when it comes to attracting investment in major infrastructure projects.

“Canada’s current regulatory permitting system is slow, subject to seemingly random process and policy changes and deters potential investors,” summarized a new report from the C.D. Howe Institute entitled, “Smoothing the Path: How Canada Can Make Faster Major Project Decisions,” co-authored by Charles DeLand and Brad Gilmour.

Read more

GoviEx Uranium has mining licence in Niger revoked, shares plummet – by Staff (Mining.com – July 4, 2024)

https://www.mining.com/

GoviEx Uranium (TSXV: GXU) no longer has rights over the perimeter of the Madaouela mining permit following the Niger government’s decision on Thursday to withdraw its licence, dealing a big blow to the development of one of the world’s largest uranium projects.

The Vancouver-based uranium miner had feared that its licence could be revoked if mining could not start by July 3, 2024, a deadline set by Niger’s military leaders who came into power around this time last year.

Read more

Canada’s Move to Protect Mining Sector Shields Takeover Targets – by Jacob Lorinc (Bloomberg News – July 5, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Canada is making it harder for foreign firms to acquire its biggest mining companies, potentially taking some of the global industry’s attractive takeover targets off the table.

The Canadian government will only approve foreign takeovers of large Canadian mining companies involved in critical minerals production “in the most exceptional of circumstances,” according to the latest guidelines from Industry Minister Francois-Philippe Champagne.

Read more

OPINION: A birthright squandered: How potash firms got rich and Saskatchewan got poor – by Eric Cline (Globe and Mail – July 8, 2024)

https://www.theglobeandmail.com/

Eric Cline is a lawyer and served 12 years as a cabinet minister in Saskatchewan. His second book, Squandered: Canada’s Potash Legacy (University of Regina Press), was released this spring.

Saskatchewan owns one-third of world potash reserves. That puts the province in an enviable position. The market for potash, necessary for fertilizer production, seems assured as long as a growing world population needs to eat. And one-third is a lot. To put that in context, Saudi Arabia, with only about 16 per cent of world oil reserves, dominates the world oil market.

It’s therefore not surprising that companies extracting Saskatchewan’s potash – Nutrien, Mosaic and K+S – make a lot of money. That’s all the more so recently, when Ukraine war sanctions against the potash producers Russia and Belarus sent the price of the commodity skyrocketing.

Read more

Fight Over Seabed Agency Leadership Turns Nasty – by Eric Lipton (New York Times – July 4, 2024)

https://www.nytimes.com/

An election over the future of a United Nations-affiliated organization could determine whether the Pacific Ocean floor will soon be mined for metals used in electric vehicles.

Allegations of possible payments to help secure votes. Claims of abuse of agency funds by top diplomats. A possible job offer to entice a candidate to withdraw from a race.

These are not the shenanigans of a corrupt election in an unstable country. Rather, they are efforts in the seemingly genteel parlors of a United Nations-affiliated agency, meant to sway decisions related to the start of seabed mining of the metals used in electric vehicles. It is all part of a nasty fight over who will be the next leader of the International Seabed Authority, which controls mining in international waters worldwide.

Read more

Uranium mining: A Colorado company pumps out ore, with implications for economy and national security – by Scott Weiser (Denver Gazette – July 7, 2024)

https://denvergazette.com/

Travis Chiotti puts a brass tag bearing his name on a hook on the “in” board before heading 1,400 feet down-shaft. It’s a pair — the other tag goes in his pocket. Just in case. Helmet, headlamp, heavy steel-toed rubber boots, emergency respirator. Check.

Mining is hard work. Simply moving around is taxing. In these wet tunnels, the slopes are steep and slippery. The mud clings, and calf-deep pools of water can trap a boot. Underground miners are a special breed. Absent the cacophony of pumps, ventilation air blasting at 140,000 cubic feet per minute, drilling, blasting, and moving rock with diesel skip loaders, the absolute silence is deafening.

Read more

FP Dealmakers: Critical minerals help drive dealmaking surge on Bay Street – by Barbara Shecter (Financial Post – July 8, 2024)

https://financialpost.com/

Mining at centre of more than half the equity and equity-linked deals this year

Higher commodity prices and the rise of electric vehicles made the mining sector the star of the show for Bay Street’s dealmakers in the first half of the year, with investors particularly hungry for stock and debt in companies supplying copper.

Ryan Latinovich, global head of metals and mining at RBC Capital Markets, said interest in the sector has come from both seasoned investors and those who haven’t been exposed to mining before.

Read more

Cancellation of Nickel Investments Should Be a Wake-Up Call for Indonesia – by Krista Shennum (The Diplomat – July 05, 2024)

https://thediplomat.com/

The government’s break-neck drive to exploit its nickel deposits should not come at the expense of human rights and the environment.

On June 24, two multinational mining and mineral processing giants, France-based Eramet and Germany-based BASF, announced that they would cancel plans for a $2.6 billion nickel-cobalt refinery located within the Indonesia Weda Bay Industrial Park (IWIP), in North Maluku, Indonesia.

The companies cited commercial reasons, but the Indonesian government would be short-sighted to ignore other concerns. In an indirect reference to human rights and environmental concerns with nickel processing operations at IWIP, a BASF spokesperson said the company needs a “secure, responsible, and sustainable supply of critical raw materials.” Implicit in the companies’ statements is that they are concerned about increasing their reputational risk through a new investment at IWIP.

Read more

Ekati boss envisions another 25 years of mining – by Derek Neary (NNSL.com – July 4, 2024)

https://www.nnsl.com/

Agnico Eagle hits new marks at Meliadine and Meadowbank

The Northwest Territories’ economy continues to lean heavily on diamond production, which is waning overall, and, to a lesser extent, rare earths. In Nunavut, gold and iron ore are the backbone of GDP. Here are some noteworthy occurrences from operating mining companies in both territories.

Burgundy Diamond Mines

Burgundy Diamond Mines, owner of Ekati, reported a major jump in carats sold in its first quarter report for 2024. Its 1.32 million carats sold played a central part in the $117 million (U.S.) in revenues generated for the quarter. The total yield was 1.15 million carats, down from 1.18 million a year earlier.

Read more