Mining Industry News
Posted November 24th 2014 at 10:00 amIt’s time for organizations to recognize the impact of trade-offs on business decisions
Federal government right to question province for plan, Ring of Fire stakeholder says [KWG Resources] – by Jamie Smith (tbnewswatch.com – November 21, 2014)
Posted November 21st 2014 at 7:36 pmhttp://www.tbnewswatch.com/ THUNDER BAY — A major Ring of Fire player says the federal government is right in asking the province to show their plans for the massive mining project. Federal Natural Resources Minister Greg Rickford (Con., Kenora) said recently that the province hasn’t spent any money despite making a $1 billion commitment to the project. […]
Lies we wish were true [Ring of Fire transportation] – by David Robinson (Northern Ontario Business – November 2014)
Posted November 21st 2014 at 7:27 pmEstablished in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Dave Robinson is an economist with the Institute for Northern Ontario Research and Development at Laurentian University.firstname.lastname@example.org Here is a fantasy about Northern development and the Ring of […]
Five mineral value-chains prioritised in South Africa’s draft beneficiation plan – by Terence Creamer (MiningWeekly.com – November 21, 2014)
Posted November 21st 2014 at 7:22 pmhttp://www.miningweekly.com/page/home The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic Development Department, the Department of Mineral Resources (DMR) and […]
How Canada Can Help Combat the ‘Resource Curse’ – by Lina Holguin (Huffington Post – November 20 , 2014)
Posted November 21st 2014 at 7:20 pmhttp://www.huffingtonpost.ca/business/ Lina Holguin is a Policy Director at Oxfam Canada and Oxfam-Quebec. Recently, Canada’s Parliament introduced the Extractive Sector Transparency Measures Act, which could have a huge impact on people around the world experiencing the “resource curse.” More than 60 per cent of the world’s poorest people live in countries rich in natural resources — […]
Go where it is darkest: When company, country, currency and commodity risk collide! – by Aswath Damodaran (Musings on Markets – November 20, 2014)
Posted November 21st 2014 at 7:18 pmhttp://aswathdamodaran.blogspot.ca/ Aswath Damodaran is a Professor of Finance at the Stern School of Business at NYU. You learn valuation (and find out how much you don’t know) by valuing businesses and companies, not by talking, reading or ruminating about doing valuation. That said, it is natural to want to value companies with profit-making histories and […]
Ring of Fire is ‘beyond the point of no return,’ mining company says – Bill Curry and Bertrand Marotte (Globe and Mail – November 20, 2014)
Posted November 21st 2014 at 4:20 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. Ottawa and MONTREAL – The Ring of Fire project is “beyond the point of no return” in spite of renewed government pledges to move ahead, says the CEO of the […]
EXCLUSIVE-Foreign firms challenge Poland over access to mine concessions – by Adrian Krajewski and Anna Koper (Reuters India – November 21, 2014)
Posted November 21st 2014 at 4:18 pmhttp://in.reuters.com/ WARSAW, Nov 21 (Reuters) – Two foreign-owned mining firms have challenged the Polish government over what they see as the unfair allocation of copper and potash extraction permits to state-controlled miner KGHM. Poland’s environment ministry, which allocates concessions, denied it gave preferential treatment to KGHM over Canadian Miedzi Copper, which has filed a lawsuit, […]
Cliffs Natural Resources retreats from Canadian ‘disaster’ – by Nicolas Van Praet (Globe and Mail – November 21, 2014)
Posted November 21st 2014 at 4:15 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. MONTREAL — The chief executive officer of mining giant Cliffs Natural Resources Inc. is taking aim at his predecessors for their decision to pump billions of dollars into Canada, saying […]
Wall Street Banks dumping some physical commodities units – by Dorothy Kosich (Mineweb.com – November 21, 2014)
Posted November 21st 2014 at 4:14 pmhttp://www.mineweb.com/ Several witnesses indicate they could support increased regulation of their activities. RENO (MINEWEB) – As Goldman Sachs, JPMorgan and Morgan Stanley defended their commodities activities before the Senate Permanent Subcommittee on Investigations Thursday, the world’s largest aluminum consumer and U.S. senators argued the lack of adequate regulation is hurting consumers of aluminum, copper and […]
Richest Woman in Asia-Pacific Buys Iron as BHP Calls End to Era – by Jasmine Ng and David Stringer (Bloomberg News – November 21, 2014)
Posted November 21st 2014 at 4:12 pmhttp://www.bloomberg.com/ Gina Rinehart, the Asia-Pacific’s richest woman, is set to start exports in September from her new A$10 billion ($8.6 billion) iron ore mine undeterred by prices trading near five-year lows and forecast to extend losses. “We don’t like the ore price going down, but we’re in the lower quartile” of production costs, Rinehart, chairman […]
Posted November 21st 2014 at 1:21 pmA lawsuit has been filed against Vancouver-based mining company Nevsun Resources in the British Columbia Supreme Court by three individuals who claim to have once worked with a local subcontractor at the Bisha mine, in Eritrea, on the Horn of Africa. The TSX-listed company said on Friday that the lawsuit made human rights allegations against Nevsun and its local subcontractor, which the company denied and would “vigorously defend itself against”.
Posted November 21st 2014 at 1:10 pmTSX-listed Teck Resources expects to spend an estimated $600-million over a five-year period on the installation of water diversions and water treatment facilities as part of the Elk Valley Water Quality Plan, approved by the British Columbia Ministry of Environment. This was on top of the $120-million already invested to build the facility at Teck’s Line Creek Operations.
Posted November 21st 2014 at 12:43 pmNational Bureau of Economic Research (NBER) researchers Menzie D Chinn and Olivier Coibion examine the predictive content of futures prices for energy, agricultural, precious and base metal commodities. Coibion and Chinn […]
Posted November 21st 2014 at 12:36 pmTSX-listed Callinex Mines has adopted an aggressive new strategy to discover and develop high-grade copper- and zinc-rich volcanogenic massive sulphide (VMS) deposits. The company has identified its Flin Flon and Pine Bay projects as the focus of future exploration based on potential to host the Flin Flon mining district’s next VMS deposit. Both projects are located within 20 km by road to Hudbay Minerals’ processing facility in Flin Flon, Manitoba, which is projected to require additional ore in the coming years.
Posted November 21st 2014 at 10:59 amTSX-listed exploration and mining company Wallbridge Mining has successfully negotiated an early prepayment of $1-million on its $2-million debt owing to Callinan Royalties. This was pursuant to a line of credit (LoC) entered into with Callinan on December 12, 2012. The interest payable on the company’s debt was also renegotiated, resulting in interest now being calculated at the rate of 10% a year instead of the greater of 10% a year, or a 1.5% net smelter return (NSR) royalty, prorated on the funds drawn.
Posted November 21st 2014 at 10:58 amA Perth-based technology firm, Mineler, has launched a mining social marketplace application designed to interconnect individuals and companies within the mining sector. Described as ‘the next step for resource companies’, […]
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Posted November 21st 2014 at 9:50 amJSE-listed mining firm, African Eagle Resources (Eagle), on Thursday said it has taken steps to acquire iron ore miner, Lime-Chem Resources (LCR). Eagle said the aggregate consideration for the acquisition […]