Mining Industry News
Posted December 11th 2013 at 10:00 amHere are some questions potential buyers of a small business should ask in order to determine what the business may be worth to them
Posted December 11th 2013 at 10:00 amThere is no limit to your success if you can just figure out how to hire and motivate the right people. Here are five fundamental tips to help you hire the right employees.
Posted December 11th 2013 at 10:00 amMarketing firm that translates big consumer campaigns for Quebec audiences faces questions about its extensive use of outside help. But should it change its business model for the sake of optics?
Posted December 10th 2013 at 9:28 pmThe Assembly of First Nations of Quebec and Labrador (AFNQL) on Tuesday said it “strongly” opposed two specific issues of the new Mining Act and demanded the Quebec government to listen to what they had to say on these issues before its adoption on Monday night. Section 2 of the Act proposed new consultation measures, but the First Nations said that this was not what was at stake, changing that without an exploration permit as a prerequisite, consultations would be meaningless, owing to Quebec not having control over the exploration work.
Posted December 10th 2013 at 9:17 pmBRITISH COLUMBIA – Seabridge Gold has closed a $16.8 million bought deal financing with which to advance work at its KSM copper-gold project 65 km northwest of Stewart. The offering consists of 1.5 million flow-through shares at a price...
Posted December 10th 2013 at 9:15 pmSASKATCHEWAN – Golden Band Resources of Saskatoon has been forced by low gold prices to suspend work at its Roy Lloyd underground and Golden Heart open pit mines as well as it Jolu mill for an "indefinite" time beginning Jan. 1, 2014. The...
Posted December 10th 2013 at 9:13 pmONTARIO – GTA Resources and Mining of Burlington, ON, has completed a drill program at the Northshore gold property 4 km south of Schreiber in the Hemlo-Schreiber Greenstone Belt. The program consisted of five holes totaling 853 metres.
Posted December 10th 2013 at 9:11 pmPANAMA – Vancouver-based First Quantum Minerals has been taking a hard look at the Cobre Panama development since acquiring it in March 2013. The first decision the company made was to transform project management to a complete in-house,...
Posted December 10th 2013 at 9:08 pmThe following article is reprinted with permission from CMJ’s sister publication Mining Markets.
Posted December 10th 2013 at 8:22 pmBHP Billiton, the world's largest miner and a top investor in US onshore oil and gas, said on Tuesday its US shale business should generate cash from 2016, contributing almost $3-billion a year to the group by the end of the decade. BHP, one of the largest producers outside the major integrated oil companies, plans to spend around $4-billion a year to expand its US onshore oil and gas production.
Posted December 10th 2013 at 5:45 pmUS steelmaking and steam coal producer Arch Coal on Tuesday announced that its Leer mine, in the Tygart Valley, in northern West Virginia, had started operating its longwall mining system, representing a significant milestone in the development of the mining complex. The Leer mine was expected to ramp up production during the first quarter of 2014, and to produce more than three-million tons of metallurgical coal a year, which would be sold into domestic and international markets for use to make steel.
Posted December 10th 2013 at 5:24 pmCanadian base metals producer First Quantum Minerals on Tuesday said it had decided to design and build an expansion to the 1.2-million-tonnes-a-year copper smelter and to defer completing the Kansanshi sulphide expansion until 2017, when the smelter expansion was expected to be complete. The company said that while the cost to export copper concentrate was high, it had become obvious that the availability of in-country, third-party smelting capacity is declining to the extent that even after the company's current smelter project had been completed, there would be insufficient capacity to process all of the concentrate production from its Sentinel mine, currently under construction, and Kansanshi, where operations were recently expanded.
Native rights a contentious issue as mining bill passes – by Kevin Dougherty (Montreal Gazette – December 9, 2013)
Posted December 10th 2013 at 4:45 pmhttp://www.montrealgazette.com/index.html Bill 70 adpopted with support of the Liberals and CAQ QUEBEC — The Coalition Avenir Québec and Quebec Liberals backed the Parti Québécois government Monday night, with only Quebec solidaire opposed, to adopt Bill 70, the first major change in the province’s Mining Act in almost a century. Martine Ouellet, Quebec’s natural resources minister, [...]
At summit, Eastern Kentucky leaders look to Minnesota for ideas to renew economy – by Bill Estep and John Cheves (Lexington Herald-Leader – December 9, 2013)
Posted December 10th 2013 at 4:43 pmhttp://www.kentucky.com/ PIKEVILLE — Leaders grappling with a painful downturn in coal jobs in Eastern Kentucky got a primer Monday on how another state dealt with a similar collapse in its mining region. The situation 30 years ago in the iron-ore belt in northeastern Minnesota was dire. Mining jobs dropped by more than 60 percent in [...]
ANALYSIS: How markets are rigged against you – by Amanda Lang (CBC News Business – December 9, 2013)
Posted December 10th 2013 at 4:24 pmhttp://www.cbc.ca/news/business Amanda Lang looks at ways the financial system is rigged in some people’s favour Every day, trillions of dollars are exchanged by buyers and sellers on trading floors across the world. The places where that happens are colloquially known by the faceless moniker of “the markets” but every time somebody buys a barrel of [...]
Strateco seeks to force deal on disputed uranium mine – by Jordan Fletcher (Globe and Mail – December 10, 2013)
Posted December 10th 2013 at 3:07 pmThe 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 battle over uranium mining in northern Quebec is heating up again. Strateco Resources Inc. petitioned a Quebec court on Dec. 5, seeking to force the province’s environmental minister to [...]
Kitco Metals among gold traders facing Quebec tax fraud allegations – by Nicolas Van Praet (National Post – December 10, 2013)
Posted December 10th 2013 at 3:06 pmThe National Post is Canada’s second largest national paper. MONTREAL – Revenu-Québec is seeking prison sentences and fines totalling $750-million for Kitco Metals Inc. founder Bart Kitner and directors with several other gold trading firms following one of the biggest tax fraud investigations in provincial history. Quebec’s revenue department on Monday said it filed a total of [...]
Posted December 10th 2013 at 3:04 pmThe Toronto Star has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion. “Poor man’s gold” was the worst of the metals bunch in 2013 — and next year still a question mark for precious metals, says PWC annual report. There’s a silver lining [...]
Barclays favours nickel in 2014, bearish on gold and oil – by Barani Krishnan (Reuters U.K. – December 10, 2013)
Posted December 10th 2013 at 3:03 pmhttp://uk.reuters.com/ NEW YORK – (Reuters) – Base metals, led by nickel, appear set to trend higher in 2014 due to tighter supplies, while unfavorable economics should keep pressure on gold and oil and prompt investors to avoid much of the commodity complex, Barclays said on Monday. In another negative outlook on commodities from a major [...]
Ontario driving jobs out with Blue Boxes, green energy – by Terence Corcoran (National Post – December 10, 2013)
Posted December 10th 2013 at 3:01 pmThe National Post is Canada’s second largest national paper. Slowly but surely, Blue Boxes and green energy are driving red tomatoes out of the province Did the blue box help kill Ontario’s red tomato? Certainly not by itself, but when Heinz announced last month that it was shutting its century-old ketchup-making plant in Leamington, Ontario, the U.S. [...]