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Mining Industry News

Trump aides said to prepare list of early energy changes

Posted January 20th 2017 at 10:15 pm

Donald Trump’s advisers have prepared a short list of energy and environmental policy changes he can take now that he has been sworn in as president, including steps to limit the role that climate change plays in government decisions and speed the review of cross-border pipelines. The list of actions Trump can take imminently includes nullifying former President Barack Obama’s guidelines that federal agencies weigh climate change when approving pipelines, deciding what areas to open for drilling or taking other major actions, two people familiar with Trump’s transition planning say.

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PEA places Mariana’s Hot Maden in world-class league

Posted January 20th 2017 at 10:09 pm

AIM and TSX quoted exploration and development company Mariana Resources this week announced the positive results of a preliminary economic assessment (PEA) for its flagship Hot Maden project in Turkey, touting a net present value, at a 10% discount, of about $1.4-billion. "The potential value is finally revealed from the high-grade gold/copper Hot Maden project with these PEA results,” stated CEO Glen Parsons on Tuesday.

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Province supporting North Bay film studio

Posted January 20th 2017 at 10:00 pm

Post-production facility at Canadore College will help filmmakers complete projects in the North.

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Platinum price upside limited despite stronger structural demand in coming years

Posted January 20th 2017 at 9:19 pm

Analysts at Bank of America Merrill Lynch (BofAML) Global Research forecasts little upside for platinum despite strengthening structural demand, saying South African producers are putting more ounces on the market at a time when discipline is required. In a ‘Global Metals Weekly’ report published Friday, BofAML said it feels comfortable with its price forecast for 2017 of $ 1 050/oz for platinum, which does not provide much optimism from the $976/oz-level it traded at on Friday.

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Potash Ridge contemplates smaller-scale ops at Blawn Mountain

Posted January 20th 2017 at 8:24 pm

TSX-listed project developer Potash Ridge this weak published the results updating a 2013 technical report on the Blawn Mountain project, in Utah, to a capital cost that is more attractive given today's market conditions, and to an initial production rate that can be absorbed into the North American market, without impacting economic returns. Prepared by Millcreek Mining Group, the new technical report is based on an initial yearly output rate of potassium sulphate of about 40% of the annual production rate previously contemplated, while maintaining robust economic returns.

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Innovation centre receives federal funding

Posted January 20th 2017 at 8:00 pm

Provided by FedNor, $460,000 in funding will go toward the Step Forward Entrepreneurs Program at Innovation Initiatives Ontario North in North Bay.

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Northern agri-food businesses given provincial nod

Posted January 20th 2017 at 6:00 pm

Premier’s Awards for Agri-Food Innovation Excellence will go to outfits in Dryden and Thunder Bay.

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Antofagasta swaps 40% Alto Maipo stake for cheaper electricity

Posted January 20th 2017 at 5:29 pm

London-based Antofagasta announced Friday that its subsidiary Minera Los Pelambres has agreed to transfer its 40% stake in the Alto Maipo hydroelectric project to controlling shareholder Gener in return for cheaper electricity. Los Pelambres has been in partnership with Gener in the Alto Maipo project to develop, construct, own and operate two run of river hydroelectric power stations located in the upper section of the Maipo River, about 50 km to the south-east of Santiago, with a total installed capacity of 531 MW.

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Vale to make 'landmark announcement' next Tuesday

Posted January 20th 2017 at 4:00 pm

Announcement is about environmental improvements at its Sudbury operations

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Gold: The movie about the Bre-X mining scandal that ‘isn’t about Bre-X’ – by Sunny Freeman (Financial Post – January 20, 2017)

Posted January 20th 2017 at 3:32 pm It has all of the elements befitting a classic Hollywood tale: mystery, adventure, treasure, greed, corruption, betrayal, exotic locales, plot twists and … gold. Gold, opening in theatres across Canada on Jan. 27, is the story of a brash, chain-smoking, pot-bellied mine prospector whose dream of finding the motherlode is all-consuming. Down and […]

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Agnico Eagle invests in the future of Canada’s North – by Jane Werniuk and Olivier Cote-Mantha (Canadian Mining Journal – January 1, 2017)

Posted January 20th 2017 at 3:29 pm Jane Werniuk, senior geologist, technical reporting, Agnico Eagle Mines Limited. Olivier Côté-Mantha, principal evaluation geologist, Agnico Eagle Mines Limited. An ambitious exploration program in a relatively unexplored area in the Kivalliq region of Nunavut, has resulted in an exciting discovery for Toronto-based gold producer Agnico Eagle Mines. In just over three years, the exploration […]

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New Vale pact seeks dispersed share ownership in six years: sources – by Tatiana Bautzer and Guillermo Parra-Bernal (Reuters U.S. – Janaury 19, 2017)

Posted January 20th 2017 at 3:27 pm SAO PAULO – Leading shareholders of Vale SA are close to endorsing a plan to turn the world’s No. 1 iron ore producer into a company with dispersed share ownership within six years, two people familiar with the talks said. Bradespar SA, Mitsui & Co and several Brazilian pension funds are negotiating a new […]

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Resource jobs back in demand as miners’ regain confidence – by Matt Chambers (The Australian – January 20, 2017)

Posted January 20th 2017 at 3:26 pm Demand for resource jobs jumped last year as confidence grew that the worst was over for the sector, with further gains tipped this year from growing investment and Adani’s Carmichael coal project planned in Queensland. DFP Recruitment’s mining and resources job index rose 21 per cent in 2016, led by a resurgence in Queensland […]

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The cult of the anti-scientific climate model – by John Robson (National Post – January 20, 2017)

Posted January 20th 2017 at 3:24 pm To say it’s unpleasantly cold might be dismissed as banal small talk. Of course it’s cold. It’s a Canadian winter. And we all saw it coming. Except we didn’t. For decades alarmists have said man-made global warming is about to end winter as we know it. They claimed to know all about climatic patterns […]

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Cameco defends decision to tell analysts they were wrong, but sees oversupply issues fading – by Sunny Freeman (Financial Post – January 20, 2017)

Posted January 20th 2017 at 3:23 pm Cameco Corp. is more optimistic about long-term demand for uranium than it it has been for five years, a top executive said Thursday after its stock price tumbled following the company’s unusual warning to analysts they were too bullish on the company’s 2016 performance. The Saskatoon-based uranium miner took an extraordinary step Tuesday by […]

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Platinum price upturn needed to sustain industry – Lonmin

Posted January 20th 2017 at 2:44 pm

An upturn in the platinum price is needed for the sustainability of the platinum industry as a whole, Lonmin CEO Ben Magara said on Friday. The head of the large London- and Johannesburg-listed platinum mining company said that although there had been a slight price recovery since November and that the exchange rate had helped a lot, platinum continues to be under stress. (Also watch attached Creamer Media video).

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We are not at war with Sibanye says Zwane

Posted January 20th 2017 at 2:32 pm

Section 54 mine stoppage notices are not intended to stifle economic growth, said Mines Minister Mosebenzi Zwane at a briefing about mining health and safety on Thursday. This follows reports that […]

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Golden Saint encouraged by Baja, Tongo ‘inventory’ check

Posted January 20th 2017 at 1:31 pm

Aim-listed Golden Saint Resources is now considering the work that is necessary to establish an inferred resource within its Baja and Tongo exploration licence areas, in Sierra Leone, following an encouraging inventory report back from its consultants. Alluvial specialist Rock Forage undertook a site visit to the two licence areas from November 30 to December 11, to analyse each exploration target critically and develop proposed solutions to develop the required inferred resource level of confidence.

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'On the map' for conferences

Posted January 20th 2017 at 1:30 pm

Renovated Kenora high school is a magnet for meetings

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Mining Indaba app brings conference to your fingertips

Posted January 20th 2017 at 11:44 am

Stay connected, organized and up to date before, during and after the conference with the 2017 Mining Indaba App. Download app here.  The application will add current and new sessions […]

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