Mining Industry News
Posted September 28th 2016 at 4:59 pmThe Canadian federal government has approved the C$11-billion Pacific NorthWest LNG project, a proposal to construct and operate a liquefied natural gas (LNG) facility and marine terminal near Prince Rupert, on British Columbia's North Coast. Majority owned by Malaysia-based Petronas, the project approval is the result of more than three years of regulatory review, and is subject to more than 190 legally binding conditions aimed at reducing the environmental impacts of the project. For example, the project proponent Pacific NorthWest LNG will be required to comply with mitigation measures that will reduce adverse effects on fish, fish habitat, marine mammals, wetlands, migratory birds, and human health.
Posted September 28th 2016 at 2:18 pmSama Resources has announced that the Company will proceed with a down-hole geophysical survey at two project locations in Ivory Coast, West-Africa. The geophysical testing will commence in October and surveyed […]
Posted September 28th 2016 at 1:09 pmAn application has been made to the UK Listing Authority and the London Stock Exchange for 305,806 ordinary shares of $0.0001 each to trade on the London Stock Exchange and […]
Posted September 28th 2016 at 12:20 pmhttps://www.bloomberg.com/ How hard can it be for a miner to sell some assets when commodity prices are on a tear? Harder than you might think.STATUS OF CONGO DISPOSALLimboFreeport-McMoRan bondholders are said to be standing in the way of a $2 billion sale of its Gulf of Mexico oil and gas fields to Anadarko, Bloomberg News […]
Teck’s diversified business model poised to drive cash flow, profit as commodities rise – by Henry Lazenby (MiningWeekly.com – September 27, 2016)
Posted September 28th 2016 at 12:14 pmhttp://www.miningweekly.com/ VANCOUVER (miningweekly.com) – Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its exposure to stronger steelmaking coal and zinc markets, as well as from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche Bank twenty-fourth Annual Leveraged Finance Conference, […]
Renewables not cost competitive until mid-century: Glencore – by Nina Chestney (Reuters U.S. – September 27, 2016)
Posted September 28th 2016 at 12:11 pmhttp://www.reuters.com/ LONDON – Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organizations forecast and supporting the mining and trading giant’s case for continued investment in coal. Glencore has said coal is still an investment opportunity, forecasting global demand will grow by 7 percent […]
Posted September 28th 2016 at 12:05 pmhttp://www.northernminer.com/ RNC Minerals (TSX: RNX; US-OTC: RNKLF) — formerly Royal Nickel Corp. — has gone from a single-asset firm to a gold, nickel and copper producer, by taking advantage of the market downturn earlier this year to buy two producing assets. RNC picked up a 100% interest in the Beta Hunt gold-nickel mine in Western […]
Posted September 28th 2016 at 12:02 pmChinese authorities have blamed illegal mining activities for a gas explosion at a coal mine that has killed 18 miners, and two others left missing, Chinese state media reported Wednesday. […]
Ontario Liberals’ huge green energy about-face shows renewables aren’t so doable after all – by Terence Corcoran (Financial Post – September 28, 2016)
Posted September 28th 2016 at 11:59 amhttp://business.financialpost.com/ One should never underestimate the ability of politicians to convert massive policy failure into a dazzling display of green concern for the welfare of voters. That’s the trick now being attempted by the Liberal government of Ontario as it begins to unravel parts of its financially disastrous green energy program. Glenn Thibeault, the province’s […]
Posted September 28th 2016 at 9:43 amThe venture capital industry has been clamouring for a repeat of the program, introduced in 2013, which saw the government commit $340-million to four VC ‘fund of funds’ firms, alongside another $112.5-million from Ontario and Quebec
Posted September 28th 2016 at 9:00 amRyerson University’s DMZ startup incubator is launching a blue-chip advisory council with the lofty goal of solving Canada’s entrepreneurial problems.
Posted September 28th 2016 at 9:00 amPaul Switzeny set up a home repair service after his own poor experiences with unreliable contractors. But he’s still having trouble finding good help
Posted September 28th 2016 at 8:34 amMinerals explorer White Rock is seeking to raise $5.74-million through the placement of shares and an entitlement offer to fund studies and exploration at projects in New South Wales and in Alaska. The company will raise $1.62-million in a placement of ordinary shares to investors and up to $4.12-million in an one-for-two nonrenounceable entitlement offer of shares to existing eligible shareholders at an offer price of 1.5c a share.
Copper, platinum key to future of auto industry, mining financier says – by Ian McGugan (Globe and Mail – September 27, 2016)
Posted September 27th 2016 at 10:22 pmhttp://www.theglobeandmail.com/ The current lithium frenzy will end badly while gold bugs should look at the riper opportunities available in copper and platinum, according to mining financier Robert Friedland. In a sprawling, exuberant and at times politically incorrect speech at the Mines and Money Americas conference in Toronto, the veteran promoter demonstrated he hasn’t lost his […]
Global Nickel Market Convulsed as Top Shipper Sees Mine Failings – by Andreo Calonzo and Cecilia Yap (Bloomberg News – September 27, 2016)
Posted September 27th 2016 at 10:06 pmhttp://www.bloomberg.com/ The Philippines said three-quarters of its mines fell short in an audit of the top nickel producer, with 20 mines facing suspension unless they can respond to shortcomings within days, on top of the 10 already halted. Nickel went on a switchback ride, flipping from losses to a six-week high. The mines already shut, […]
Mosaic’s Radioactive Sinkhole Problem Could Mean Mine Delays – by Jen Skerritt (Bloomberg News – September 27, 2016)
Posted September 27th 2016 at 10:00 pmhttp://www.bloomberg.com/ As the world’s largest producer of phosphate fertilizer, Mosaic Co. is used to digging up parts of Florida to recover the mineral. But lately, one particular hole is causing the company some headaches. A sinkhole 45 feet (14 meters) wide has opened up in a pile of mining waste at the company’s New Wales […]
Losing Inco and Falconbridge: Ontario could have acted – BNN Andrew Bell Interviews Mining Analyst Ray Goldie (BNN News – September 23, 2016)
Posted September 27th 2016 at 9:29 pmhttp://www.bnn.ca/commodities/ Ten years ago, Canadian mining giants Inco and Falconbridge went into foreign hands. Independent mining analyst Ray Goldie, author of the book Inco Comes to Labrador, says Ontario could have done more to keep the head offices in this country.
Posted September 27th 2016 at 8:55 pmChile's environmental regulator said on Tuesday it has approved a $19.1-million mitigation plan presented by KGHM's Sierra Gorda copper mine, after it found nine infractions at the operation. In March, the SMA environmental regulator pressed charges against Sierra Gorda, saying the copper mine could be fined up to $29-million and have its license revoked, for committing seven "serious" and two "mild" environmental infractions.
Posted September 27th 2016 at 8:44 pmQUEBEC – Osisko Mining of Montreal has closed a bought deal private placement that raised more than $32.3 million. The company sold 11.75 million common shares at a price of $2.75 each to a syndicate of underwriters led by BMO…
Posted September 27th 2016 at 8:42 pmONTARIO – Vancouver-based Pure Gold Mining has struck a bonanza at its Madsen gold project 16 km west of Red Lake. Recent drilling in the Austin horizon returned 126.6 g/t Au over 3.7 metres including 382.0 g/t over 1.0 metre…