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Mining Industry News

Video: The Amazing Space: Slyce in downtown Toronto

Posted October 23rd 2014 at 2:30 pm

Slyce, a company based in Toronto, enhances window-shopping online.

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Web surfing meets wave surfing in Southern California's Silicon Beach

Posted October 23rd 2014 at 2:00 pm

What’s happening here is part of a growing movement of U.S. cities seeking to duplicate the formula that turned northern California’s Silicon Valley, slightly south of San Francisco, into a mecca of society-shifting innovation and immense wealth

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In Pictures: So long Silicon Valley. Southern California is the place to be

Posted October 23rd 2014 at 1:59 pm

What’s happening here is part of a growing movement of U.S. cities seeking to duplicate the formula that turned northern California’s Silicon Valley, slightly south of San Francisco, into a mecca of society-shifting innovation and immense wealth

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Small Quebec manufacturer on the benefits of cloth diapers for babies

Posted October 23rd 2014 at 9:00 am

Introducing Betsy Thomas, the president of Bummis, a cloth diaper manufacturer based in Quebec.

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App puts AIDS test in the palm of your hand

Posted October 23rd 2014 at 9:00 am

McGill researcher motivated by making a ‘social impact,’ not business, but her HIVSmart self-test has potential to reach a large market and get more people diagnosed

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Three tips for developing a video strategy

Posted October 23rd 2014 at 9:00 am

Online video offers a great opportunity for businesses, if done right. Here are three questions to ask to help you develop a solid video plan

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Vancouver entrepreneur stirs up trouble backstage on Dragons’ Den

Posted October 23rd 2014 at 9:00 am

Ian Andrew Bell is the founder of RosterBot, an app that helps amateur sports teams organize their games. In March, he was offered a verbal agreement from four of the five Dragons on CBC, but refused to sign a non-binding term sheet backstage after the show

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OBITUARY: Nelson Bunker Hunt, Texas tycoon who lost billions in silver gamble, dies at 88 – by Robert D. McFadden (Globe and Mail – October 22, 2014)

Posted October 22nd 2014 at 11:11 pm

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite. The New York Times News Service – Nelson Bunker Hunt, the down-home Texas oil tycoon who owned a thousand race horses, drove an old Cadillac and once tried to corner […]

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BC introduces new two-tier tax on income from LNG facilities

Posted October 22nd 2014 at 10:07 pm

The province of British Columbia this week introduced its much-anticipated legislation for a new two-tier tax on net income from liquefied natural gas (LNG) facilities. The legislation, which was originally announced in the provincial budget in February, introduced a two-tier income tax that would apply a minimum 1.5% ‘Tier 1’ tax on LNG profits before the recovery of capital investment costs and a 3.5% ‘Tier 2’ tax on LNG profits once capital payback had been achieved. The Tier 2 tax would rise to 5% in 2037.

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GOLD: Kinross sells Fruta del Norte to Fortress

Posted October 22nd 2014 at 8:24 pm

ECUADOR – Kinross Gold Corp. of Toronto has sold its Fruta del Norte gold project to Vancouver's Fortress Minerals Corp., a member of the Lundin Group. The price is reported to be US$240 million in cash and equity.

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EXPLORATION: Global budget drops 25% in 2014

Posted October 22nd 2014 at 8:22 pm

CHARLOTTESVILLE, Virginia – A report prepared for SNL Metals & Mining estimates the worldwide total budget for non-ferrous metals exploration fell to US$11.36 billion in 2014 from US$15.19 billion in 2013 – a drop of 25%.

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GOLD: Lake Shore extends S2 fold nose at Timmins deposit

Posted October 22nd 2014 at 8:21 pm

ONTARIO – Lake Shore Gold Corp. of Toronto is wrapping up a successful drill program at its Timmins West gold mine 18 km west of Timmins.

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AWARD: BluMetric wins $1.6 million contract for hydrogeological study

Posted October 22nd 2014 at 8:18 pm

OTTAWA – BluMetric Environmental of Ottawa has been awarded a $1.6 million contract for a prefeasibility hydrogeological study and geotechnical study for Labec Century Iron Ore's Joyce Lake and area direct shipping ore (DSO) project in...

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Iron ore price collapse claims more victims

Posted October 22nd 2014 at 8:14 pm

Cliffs Natural Resources (NYSE: CLF) and London Mining (LSE: LOND) have become the latest casualties of falling iron ore prices, with Cliffs warning that it expects to record a US$6 billion non-cash impairment charge in the third quarter on its...

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MBAC stock surges on loan maturity extensions, liquidity update

Posted October 22nd 2014 at 8:13 pm

The TSX-listed stock of Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday jumped by as much as 157%, or C$0.11, after the struggling company reported that it had signed final agreements with its senior lenders to extend the maturity of its loans and defer related interest and principal repayments for a period of up to two years. The company had been struggling with lower-than-expected working capital levels, restricting it to buy consumables and spare parts, which caused interruptions, delays and operational inefficiencies.

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Nautilus Minerals steps closer to releasing PNG funding

Posted October 22nd 2014 at 7:33 pm

Prospective seafloor miner Nautilus Minerals has satisfied one of the conditions precedent to releasing $113-million, which its project partner – the Papua New Guinea government – had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the Solwara 1 offshore project up to first production. Nautilus had earlier this year resolved a project funding dispute with Papua New Guinea and signed an agreement with the State’s nominee, Eda Kopa (Solwara), a subsidiary of Petromin PNG Holdings, under which Nautilus agreed to secure certain intellectual property rights and charter a production support vessel.

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Quebec govt and miners to undertake Labrador Trough rail feasibility

Posted October 22nd 2014 at 7:13 pm

The Quebec government has formed a partnership with mining companies Champion Iron and Lac Otelnuk Mining to undertake a feasibility study for the construction of a multi-user railway, linking the port of Sept-Îles with the Labrador Trough, a 1 600-km-long geological belt rich in iron-ore deposits. The government and the mining companies had established a special-purpose entity, the Northern Quebec Railway Partnership (SFNQ), to carry out the study, which was expected to cost up to C$20-million. The SFNQ would be open to other mining companies to join.

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Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

Posted October 22nd 2014 at 3:20 pm

TSX-V-listed Fortress Minerals has agreed to buy the stalled Fruta del Norte (FDN) gold/silver project, in Ecuador, for $240-million in cash and scrip from TSX- and NYSE-listed Kinross Gold. Kinross last year booked a $720-million charge related to the discontinued FDN. Kinross shelved the project after it and the Ecuador government could not agree on a 70% windfall tax.

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New ultrasonic gas leak detector from MSA

Posted October 22nd 2014 at 1:39 pm

MSA has developed a new ultrasonic gas leak detector with Artificial Neural Network (ANN) intelligence and real-time broadband acoustic sound processing technology. Gassonic Observer-i is a pioneering new gas leak […]

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Why pharmacies are becoming more attractive to business owners

Posted October 22nd 2014 at 1:38 pm

Professional services within the health care sector, such as pharmacies, are attracting particular interest

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