07.12.2019

CIM Update News

CIM Weekly Update

 

 

 
 

 

 

 

 

Weekly mining news recap

 

What you may have missed in mining news from July 8 to 12

Welcome back to your weekly mining news recap, where we catch you up on some of the news you may have missed. This week’s headlines include innovation in stable combustion, exploration successes for McEwen Mining and North American Palladium and Hudbay’s CEO stepping aside.

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An international coalition of scientists and engineers from Canada, Germany and Chile have joined forces to develop an optical probe capable of monitoring the flame created during flash smelting of copper concentrate. While flash smelting is a “relatively straightforward” portion of the smelting process, the different minerals fed into the smelter have different points at which they ignite, affecting the heat balance in the smelter. Being able to monitor the flame during the process helps ensure the grade of the copper matte.

Beauce Gold Fields has completed digital enhancements of old historical maps from former mining companies who operated on the company’s St-Simon Les Mines property in Southern Quebec. By restoring these maps, which are dated from the early 20th century, Beauce is attempting to find the location of the St-Gustave mine, of which no surface evidence remains, in order to potentially access the gold that remains there.

 The second quarter of 2019 is coming to a close, and mining companies are beginning to announce their quarterly results. Kirkland Lake Gold produced 49,196 ounces of gold at its Macassa Mine in Northern Ontario, down from a record 72,776 ounces in the first quarter. Kirkland says the reduction was due to the impact of excessive water in the mine during spring run-off and a reduction in the average grade. However, Kirkland did find success at its Fosterville Mine in Australia, which produced 140,701 ounces of gold in Q2, an 82 per cent increase as compared to the first quarter of 2018.

Multiple legal challenges have been filed by British Columbia First Nations against the Trans Mountain pipeline expansion, which was re-approved by the Canadian government in June, Global News reported. The challenges were filed by the Tsleil-Waututh Nation, Squamish Nation, Ts’elxweyeqw tribes, Shxw’owhamel Nation, Coldwater Indian Band and Stk’emlupsemc te Secwepemc Nation who argue that the government did not adequately consult them before re-approving the project.

North American Palladium announced the results of its surface drilling program near its Lac des Iles Mine north of Thunder Bay, Ontario. North American Palladium drilled 34 holes, returning results that the company said could potentially support further surface mining on the property. McEwen Mining also had some exploration success this week at its Black Fox Complex in Timmins, Ontario. The company is now evaluating how it might best mine the three deposits that make up the Grey Fox Area south of the existing mine.

Allan Cramm, vice-president of innovation and development at Anaconda Mining, has some words of wisdom for young mining professionals about to take their first steps into the industry.Cramm, who has over 30 years of experience in the industry, suggests that young miners should grow from their mistakes, cultivate their time and never lose their desire to keep learning. Part of our Mining Mentors series.

Partial underground operations have safely resumed on July 9 at Newmont Goldcorp’s Red Lake mine in Ontario, after measures were taken to avoid water entering the mine through a historic slope at the Cochenour complex. Mining was temporarily paused on July 3 for an in-depth review of the slope and to install further controls to ensure worker’s safety in the event of water entry. Processing and other surface operations were not affected and underground workers were reassigned in the interim. 

Alan Hair has stepped down from his position as Hudbay Minerals CEO and director, with Peter Kukielski assuming the role until a replacement is chosen. In May, Hudbay and Waterton, one of its major shareholders, settled an extended proxy battle which resulted in Hudbay’s board electing two of Waterton’s preferred candidates, Kukielski being one of them. As part of the agreement, Hudbay’s board chair Alan Hibben will also step down once a replacement has been selected in 2020. Hair had been CEO since 2016.

The Innovation Hub at Timmins’ Northern College will be getting some fancy new digs, thanks to over $190,000 in federal funding, Northern Ontario Business reported. The space will include two manufacturing labs, a carpentry lab, a virtual reality lab, a simulation lab and a mineral exploration lab. The Innovation Hub will be used to solve technological challenges present in many industries located in Timmins, mining being a major one.

Acacia Mining reaffirmed its position that it has a much higher value than what its majority shareholder, Barrick Gold Corp, is offering it for a buyout, Reuters reported. While the already-delayed deadline for Barrick to approve its buyout offer was July 9, the two companies have once again agreed to extend the deadline to July 19. As of now, Barrick has not shown any indication that it plans on increasing the value of its offer.

 

 

 

 
 
 
 

 

 

 

 
 
 
 

 

 

 

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