Mining Industry News
Posted August 26th 2016 at 1:04 pmStephen Lake, co-founder and CEO of Thalmic Labs, and Sarah Prevette, founder and CEO of Future Design School, are directors of Communitech
Posted August 26th 2016 at 8:02 amBolivian Deputy Interior Minister Rodolfo Illanes was beaten to death after he was kidnapped by striking mineworkers on Thursday, the government said. Up to 100 people have been arrested as authorities vowed to punish those responsible. "At this present time, all the indications are that our deputy minister Rodolfo Illanes has been brutally and cowardly murdered," Minister of Government Carlos Romero said in broadcast comments.
Posted August 26th 2016 at 12:01 amA Vale subsidiary has been ordered to pay C$30 000 in penalties for a 2013 incident, where untreated and acutely lethal effluent was discharged from the Voisey’s Bay nickel mine, in Newfoundland and Labrador, into the Anaktalak Bay. The St Johns provincial court ordered Vale Newfoundland and Labrador on Tuesday to pay the penalties, after the company pleaded guilty to a violation of the federal Fisheries Act.
Posted August 25th 2016 at 11:49 pmCanadian miner Kinross Gold has laid off about 300 workers at its Maricunga mine, in Chile, after it was forced to suspend operations earlier than planned owing to a court ruling upholding a local regulator’s resolution to close the mine’s water pumping wells. Kinross previously stated that it planned to suspend mining at Maricunga in the fourth quarter, owing to other capital priorities in its global portfolio. However, Reuters reported last week that Kinross was looking to sell the asset in a bid to exit the jurisdiction.
Posted August 25th 2016 at 11:02 pmChilean state copper producer Codelco said it placed $390-million worth of bonds on the local market on Thursday, fetching an historically low effective rate of 2.09%. The world's top copper miner Codelco is raising the money for refinancing and investment purposes, at a time when a fall in the copper price has hit its income hard.
Posted August 25th 2016 at 11:01 pmBrazilian miner Vale expects Samarco, an iron-ore joint venture it owns with BHP Billiton, to restart operations in the middle of 2017, a company executive said on Thursday. Samarco's mine has been shut since November when a tailings dam on the site burst, killing 19 people and causing Brazil's worst ever environmental disaster.
Posted August 25th 2016 at 10:02 pmNorthern Ontario-focused project developer Noront Resources has increased its position as the dominant land-holder in the prospective Ring of Fire (RoF) mining camp after closing the acquisition of 75% of MacDonald Mines’ claims in the region, the company said this week. Through the transaction, valued at about C$750 000, Noront has increased its claim blocks in the RoF from 375 claim units to 522.
Plans for roads to Ring of Fire development in limbo with inconclusive study – by Bill Curry (Globe and Mail – August 25, 2016)
Posted August 25th 2016 at 9:44 pmhttp://www.theglobeandmail.com/ OTTAWA — Plans to provide road access to remote Northern Ontario First Nations and spur development of the Ring of Fire mineral deposits are in limbo after a government-funded consultation failed to produce a clear consensus on how to proceed. A community study that cost $785,000 in combined provincial and federal funds has concluded […]
Posted August 25th 2016 at 8:05 pmQUEBEC – Wesdome Gold Mines of Toronto has drilled very high gold grades at the suspended Kiena mine in Val d’Or. The longest intersection was 94.35 g/t Au over 17.40 metres uncut (18.03 g/t cut) in hole U-6124. Two drills…
Posted August 25th 2016 at 8:01 pmNEWFOUNDLAND – Toronto-based Marathon Gold Corp. has been testing gold recoveries on samples from its Marathon deposit in the Valentine gold camp 55 km south of Buchans. Thibault & Associates has completed bench scale tests on samples from the Marathon…
Posted August 25th 2016 at 7:59 pmNEWFOUNDLAND – Vale Newfoundland and Labrador has been ordered by a provincial court to pay $30,000 after the company pled guilty to a violation of the federal Fisheries Act. The incident occurred in March 2013 when untreated and toxic effluent…
Posted August 25th 2016 at 7:57 pmBellhaven Copper & Gold of Vancouver has asked Milagros (Millie) Paredes to take over the role of COO in addition to her current duties as president of the company. At the same time, Dr. Paul Zweng has been named CEO…
Posted August 25th 2016 at 7:56 pmBrazil Resources (TSXV: BRI; OTCQX: BRIZF) aims to grow its gold resources through the acquisition of the large Titiribi gold-copper project in central Colombia. The Vancouver-based junior, which has gold projects in Brazil and Alaska and a uranium joint venture in Saskatchewan,…
Posted August 25th 2016 at 6:49 pmRoyalty streaming firm Anglo Pacific Group has reported strong results for the first half of 2016, more than doubling free cash flow and narrowing its net loss, which was helped by a weaker pound and higher royalty income. For the interim period ended June 30, the London, UK-based firm reported a net loss of £5.4-million, or 3.18p a share, compared with a net loss of £8.8-million, or 5.81p a share, for the same period a year earlier. The net loss in the period was mainly owing to a £10.2-million impairment booked on the company’s Kestrel royalty, in Australia, by operator Rio Tinto.
Mongolia’s Epic Meltdown Won’t Be Reversed by a Commodity Revival – by Michael Kohn (August 25, 2016)
Posted August 25th 2016 at 4:29 pmhttp://www.bloomberg.com/ The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again after a five-year collapse, a modest revival in […]
Could A Lithium Shortage De-Rail The Electric Car Boom? – by James Stafford (Oil Price.com – August 24, 2016)
Posted August 25th 2016 at 4:23 pmhttp://oilprice.com/ We’ve gone electric, and there’s no going back at this point. Lithium is our new fuel, but like fossil fuels, the reserves we’re currently tapping into are finite—and that’s what investors can take to the bank. You may think lithium got too popular too fast. You may suspect electric vehicles are too much buzz […]
Nickel merry-go-round: Indonesia ferronickel replacing Philippine ore – by Clyde Russell (Reuters U.S. – August 25, 2016)
Posted August 25th 2016 at 4:01 pmhttp://www.reuters.com/ LAUNCESTON, AUSTRALIA – Is nickel’s current rally sustainable or is the metal merely having a strong run because market participants are more focused on the environmental crackdown in top ore miner the Philippines, rather than on the surge in Indonesian ferronickel exports? No doubt nickel is one of the strongest commodity performers this year, […]
Has the federal government dropped the ball on Ring of Fire development? – by Jordan Press (Victoria Times Colonist – August 25, 2016)
Posted August 25th 2016 at 1:58 pmhttp://www.timescolonist.com/ The Canadian Press – OTTAWA – “The Ring of Fire is a provincial initiative that the previous federal government was extremely detached from and uninterested in.” — Prime Minister Justin Trudeau When a local reporter went digging for answers from Justin Trudeau about stalled development in the so-called Ring of Fire in northern Ontario, […]
Huge 4 kilo gold nugget discovered in Victoria, Australia – by Sharon Masige (Australian Mining – August 25, 2016)
Posted August 25th 2016 at 1:56 pmhttps://www.australianmining.com.au/ An Australian prospector has discovered a massive 145-ounce gold nugget worth more than $250,000. Dubbed ‘Friday’s Joy’, the nugget was found with a Minelab metal detector in an already work-over area at the southern edge of central Victoria’s Golden Triangle, an area well known for yielding gold, finding the top of the nugget only […]
Posted August 25th 2016 at 1:50 pmhttp://www.mining.com/ Gold struggled on Wednesday losing more than 1% to exchange hands for $1,327 in late afternoon trade in New York. Gold is coming off two-year highs hit early this month and year to date the metal is still up more than 25% or nearly $270 an ounce. Some of the biggest drivers of 2016 […]