Mining Industry News
Posted May 6th 2016 at 9:37 amIn the upcoming May issue of Inside Mining we look at the effects of alcohol and drug abuse in the mining industry. Click here to subscribe. By Rhys Alco When […]
Posted May 6th 2016 at 9:00 amBeing organized can improve an entrepreneur’s peace of mind in general – and ensure smooth sailing come tax time
Posted May 6th 2016 at 9:00 amSloppy business practices can attract the attention of the CRA and result in penalties
Posted May 6th 2016 at 7:30 amThe Brazilian Federal Court of Appeal this week ratified an agreement between the joint venture (JV) partners of the Samarco iron-ore operations and a number of Brazilian parties. In March, mining major BHP Billiton and its JV partner Vale entered into an agreement with the Federal Attorney General of Brazil, the states of Espirito Santo and Minas Gerais, as well as other public authorities to start restoring the environment and communities affected by the Samarco dam failure, which claimed the lives of 19 people. Under this agreement, the two companies would establish a foundation that would facilitate environmental and socioeconomic programmes to provide compensation for damage caused by the November tailings dam failure.
Posted May 5th 2016 at 9:38 pmThe owners of a North Dakota refinery that was the first to be built in the US since the 1970s have curtailed output and may try to sell it, the latest victim of the oil price slump roiling the energy industry. MDU Resources Group Inc and Calumet Specialty Product Partners LP, which jointly own the refinery, said on Wednesday the refinery is running at 75% capacity due to high operating costs and slipping demand for diesel, its main product.
Posted May 5th 2016 at 9:35 pmThe global silver market saw record demand in 2015, driven by new highs in the jewellery, coin and bar, and photovoltaic sectors, which helped boost total silver demand to 1.17-billion ounces last year, according to a new report by market analysts at Thomson Reuters GFMS. Its latest World Silver Survey 2016 reported that exceptional growth in these critical sectors had resulted in record-high demand during the year.
Posted May 5th 2016 at 8:29 pmALBERTA – Wildfires fanned by winds up to 75 km/h continued out of control for the third day at Fort McMurray, home to this country’s oil sands producers. The fire has now consumed an area the size of Calgary –…
Posted May 5th 2016 at 8:27 pmNUNAVUT – Vancouver-based Peregrine Diamonds has released the maiden inferred resource estimate for the CH-7 kimberlite pipe at the Chidliak diamond project on Baffin Island. The CH-7 pipe contains 4.23 million carats of diamonds in 4.99 million tonnes of kimberlite…
Posted May 5th 2016 at 8:26 pmYUKON – Kaminak Gold Corp. of Vancouver has budgeted $29.0 million for work at its Coffee gold project 130 km south of Dawson City. The program includes environmental baseline studies, permitting, and advanced exploration. The total Coffee budget consists of…
Posted May 5th 2016 at 8:25 pmONTARIO – Richmont Mines of Toronto continues to cut excellent intersections at its Island Gold gold mine 85 km northeast of Wawa. Lateral near-mine drilling returned 33.32 g/t over 2.60 metres and 9.99 g/t over 6.65 metres. Deep drilling intersected…
Posted May 5th 2016 at 8:23 pmDr. David A. Terry has joined Vancouver’s Comstock Metals as president, CEO and director. He holds a BSc and PhD in geology from Western University in Ontario. Kaizen Discovery of Vancouver announced three additions to its executive team: Charlie Forster…
Posted May 5th 2016 at 8:20 pmMcEwen Mining (TSX: MUX; NYSE: MUX) is acquiring claims in Mexico about 10 km from the company’s El Gallo mine in Sinaloa state that it believes have the possibility of extending the life of the gold-silver mining operation, and chairman and…
Posted May 5th 2016 at 8:17 pmThe Zimnisky Global Rough Diamond Price Index has indicated that rough prices have risen 2.4% over the last 30 days, which, however, does little to offset the 1.7% decline over the last six months, and 10.8% decline over the last 52 weeks. The index was up 5.4% after hitting a 52-week low on January 23, a new report from Paul Zimnisky Diamond Analytics, entitled ‘The state of the global diamond industry going into summer 2016’, had found.
Posted May 5th 2016 at 6:32 pmGold producer Thompson Creek Metals will spend $47-million on the installation of a new secondary crushing circuit at its Mount Milligan flagship operation in British Columbia, as the company banks on more reliable throughput levels for the long term at a lower cost compared with temporary secondary crushing arrangements. Preconstruction activities with regard to the permanent secondary crushing circuit remained on schedule and on budget once it was installed and commissioned; average mill throughput was expected to increase to about 62 500 t/d.
How Lithium Defied the Global Commodities Rout – by Biman Mukherji (Wall Street Journal – May 5, 2016)
Posted May 5th 2016 at 5:10 pmhttp://www.wsj.com/ It has earned the nickname “white petroleum,” and thanks to its use in electric vehicles and smartphones, it is one of the few raw materials climbing in price in an otherwise broad commodities slump. In the Chinese market, lithium prices have more than tripled since the beginning of 2015, as hard-to-mine supplies fall short […]
In praise of small miners: A boom in artisanal mining offers lessons in development (The Economist – May 7, 2016)
Posted May 5th 2016 at 5:09 pmhttp://www.economist.com/ ON THE outskirts of the western Ivorian town of Angovia, Joseph Bado hunches over a pile of gold-laced stone, pulverising it with a hammer. Mr Bado, who is in his mid-30s, was born in a farming village in central Ivory Coast. Frustrated by his meagre earnings in the cocoa fields, he left in 2003 […]
Rio Tinto says it will cap Australian iron ore production at 360mt – by Peter Ker (Sydney Morning Herald – May 5, 2016)
Posted May 5th 2016 at 5:08 pmhttp://www.smh.com.au/ Rio Tinto chairman Jan du Plessis has vowed not to expand the company’s iron ore division beyond 360 million tonnes per year, and defended plans to build a contentious copper mine in the US. Speaking at Rio’s Australian meeting of shareholders in Brisbane, Mr du Plessis reassured the meeting that Rio would not oversupply […]
Donald Trump Says He’ll Bring Back Jobs For Coal Miners But He’s Just Blowing Smoke – by Joe Romm (Think Progress.org – May 4, 2016)
Posted May 5th 2016 at 5:07 pmhttp://thinkprogress.org/ Donald Trump markets himself as a business-savvy billionaire who will get American jobs back from countries like China. In the case of the coal industry, however, he appears to be just a very clueless politician making pro-pollution promises he can’t keep. “I’m a free-market guy, but not when you’re getting killed,” he said recently […]
Alaska raises concerns with B.C.’s mining oversight after audit – by Justine Hunter (Globe and Mail – May 5, 2016)
Posted May 5th 2016 at 5:05 pmhttp://www.theglobeandmail.com/ VICTORIA — Six months after signing a pact to co-operate on mine development across the B.C.-Alaska border, the Alaskan government is questioning British Columbia’s ability to protect the environment due to weak enforcement of its mining industry. Alaska Lieutenant-Governor Byron Mallott says his government will demand assurances that British Columbia is taking action in […]
Grace under pressure: Nevada Turquoise Ridge miners recognized for rescue operation after rock failure traps colleagues (Barrick Beyond Borders – May 4, 2016)
Posted May 5th 2016 at 5:04 pmhttp://barrickbeyondborders.com/ Leo Sanchez has worked at the Turquoise Ridge mine for 11 years, but he won’t soon forget the night of February 3, 2016. The shift started like any other. Sanchez, North Zone Supervisor at the Nevada-based underground mine, was reviewing survey maps with John Conklin, South Zone Supervisor. At 10:30 p.m., Sanchez’s radio sounded. […]