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The growing trend of working abroad has reached the mining industry, and as a result, many Canadian mining companies have set up exploration sites worldwide. In this section of Mining and Energy, we will monitor hot commodities, profile co...
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Slower, lower, weaker…but not defeated—PwC Global Mine 2016 report
PwC's 2016 global mining report reveals the world's 40 largest mining companies recorded their first-ever collective net loss of $27 billion in 2015, with market capitalization falling 37%. While global mining struggled, Canadian markets showed signs of stability in gold and lithium sectors, with cost efficiencies helping mitigate volatility.
Saskatchewan, Quebec top Canadian jurisdictions for mining investment—Canada slips in global rank
The Fraser Institute's annual survey ranks Saskatchewan as Canada's top jurisdiction for mining investment and second globally behind Western Australia. Quebec ranks second in Canada and eighth globally, while Canada overall has slipped behind Australia as the most attractive region for mining investment.
Hecla to acquire Mines Management
Hecla Mining Company announced the acquisition of Mines Management Inc. through a share exchange valued at a 41% premium. The deal gives Hecla control of the Montanore project in Montana, considered one of North America's largest undeveloped silver and copper deposits. The transaction is expected to close in Q3 2016 pending shareholder approval.
THEnergy supports off-grid renewable energy projects
THEnergy has partnered with an international renewable energy finance company to develop off-grid renewable energy projects for mines through power purchase agreements. The financing program targets mines with 5+ megawatts load and expects total investment of 200-400 million euros over three years.
Vancouver’s Kincora announces $4 million private placement and debt conversion
Kincora Copper announced a combined $4 million financing consisting of a $2 million private placement at $0.375 per share and $2 million debt conversion by major shareholder Origo Partners. The financing will create a debt-free balance sheet and fund exploration activities in Mongolia's Southern Gobi copper-gold belt.
Lucara sells 813 carat diamond for US $63 million—highest price ever achieved for a rough diamond
Lucara Diamond Corp sold an exceptional 813 carat diamond from its Botswana Karowe mine for US$63 million, setting a record as the highest price ever achieved for a rough diamond. The Vancouver-based company retains a 10% interest in profits from the eventual polished diamond sales and has another massive 1,109 carat diamond set for auction at Sotheby's.
Emerging trends in the mining industry
Deloitte and ICMM report on 2016 mining industry trends highlighting the shift from underground to open-pit mining, integration of renewable energy technologies, and vertical integration into downstream processing. Companies are achieving 10-40% energy savings through renewable installations and automation.
Intact Gold Corp. appoints new member to Board of Directors
Intact Gold Corp. appointed Greg Burns to its Board of Directors, replacing Bob Thompson. Burns brings 22 years of experience in mineral exploration and M&A, previously serving as Managing Director of companies acquired by major miners. The appointment comes as Intact Gold searches for advanced gold development projects in Canada.
Nevsun Resources and Reservoir Minerals combine—consolidate Timok Copper Project ownership
Nevsun Resources has agreed to acquire Reservoir Minerals for approximately US$365 million, creating a mid-tier base metals company with 100% ownership of the high-grade Timok Copper Project's upper zone in Serbia. The transaction consolidates ownership of the copper-gold development project and leverages Nevsun's strong cash flow from its operating Bisha mine.
Bob Joseph on resources, respect and relationships with Aboriginal Peoples
Bob Joseph, founder of Indigenous Corporate Training Inc., discusses best practices for mining and energy companies working with Aboriginal Peoples in Canada. He emphasizes the importance of early engagement, proper research, and understanding that Indigenous communities balance long-term cultural survival with short-term socio-economic needs when considering resource development.
Caterpillar introduces “The Age of Smart Iron” digital technology
Caterpillar CEO Doug Oberhelman unveiled 'The Age of Smart Iron' digital technology strategy at bauma 2016, showcasing Cat Connect Technology solutions including LINK, GRADE, COMPACT, and PAYLOAD systems. The company has 400,000 connected assets and aims to create a unified data platform across all equipment and devices to improve customer productivity, safety and profitability.
Polaris Rampage helps Canada assert its northern sovereignty
Polaris has deployed its new amphibious all-terrain vehicle prototype called the Rampage in support of the Canadian Armed Forces' annual Operation Nunalivut sovereignty exercise in Canada's North. The operation demonstrates Canada's ability to operate in harsh Arctic conditions while asserting sovereignty over northern regions rich in fossil fuels, gold, and diamonds.
Self-Unloaders 101: new CSL video explains how self-unloading ships work
The CSL Group released an educational video explaining how self-unloading ships work, showcasing their gravity-fed discharge systems. CSL is the world's largest owner and operator of self-unloading vessels, handling 76 million tonnes of cargo annually across global markets including construction, steel, energy and agri-food sectors.
Taking the politics out of pipeline reviews: Straight talk with Gaetan Caron
Former National Energy Board Chair Gaétan Caron argues that Canada's environmental assessment process is working well but has become overly politicized. He recommends reforms to restore public confidence in pipeline reviews, including better public engagement mechanisms and clearer role definitions for regulatory bodies.
Mining industry supports carbon price to address climate change
The Mining Association of Canada (MAC) announced its support for a national carbon price as the most effective tool for reducing emissions and addressing climate change. The association released principles for climate change policy design emphasizing revenue neutrality, competitiveness protection, and technology investment. MAC represents Canada's largest mining companies and notes the sector accounts for 1.1% of the country's greenhouse gas emissions.
Canadian Pacific terminates efforts to merge with Norfolk Southern
Canadian Pacific Railway terminated its efforts to merge with Norfolk Southern Corp., withdrawing a shareholder resolution and ending pursuit of financial offers. CP cited no clear path to a friendly merger and will refocus on serving customers and creating value for CP shareholders using its precision railroading approach.
Canadian companies poised to benefit from lithium surge?
Several Canadian lithium companies are positioned to benefit from Tesla's Model 3 unveiling, which generated 276,000 pre-orders and highlighted growing electric vehicle demand. Vancouver-based juniors like Lithium X, Pure Energy Minerals, and Nemaska Lithium are among those riding the lithium wave, with Lithium Americas announcing a $25M joint venture with Chile's SQM.
LNG export terminals vital for B.C. gas producers
The Canadian Association of Petroleum Producers argues that West Coast LNG export terminals are critical for B.C.'s struggling natural gas industry, as unemployment in northeastern B.C. has reached 9.2% due to declining North American demand. Federal approval of the Woodfibre LNG project represents a key step toward accessing growing Asian markets and potentially creating 65,000 jobs nationally.
Cameco commences drilling at CanAlaska’s West McArthur Project
Cameco has commenced drilling at CanAlaska's West McArthur Project under an option agreement allowing Cameco to earn up to 60% interest through $12.5 million in expenditures. The drilling targets the Grid 5 area, believed to host the western extension of mineralization being explored at Cameco's nearby Fox Lake discovery, which contains 68.1 million pounds of inferred uranium resources.
Terrapure Environmental acquires leading industrial dredging business In Eastern Canada
Terrapure Environmental has acquired Consolidated Giroux Environment Inc., an industrial dredging company based in New Brunswick that has served mining, municipal, and pulp and paper sectors since 1972. The acquisition expands Terrapure's onsite environmental services capacity across Canada and strengthens its position in the mining sector through access to Giroux's specialized equipment and experienced workforce.
Albert Lamarre—geologist, author and all-around adventurer
Albert Lamarre, a geologist with 13 years in mineral exploration, has published a memoir titled 'Mountains, Minerals, and Me: Thirteen Years Revealing Earth's Mysteries' chronicling his adventures in the field. He contributed to bringing the Thompson Creek molybdenum deposit in Idaho into production by recognizing a previously unidentified high-grade core during exploration in the late 1970s.
Is the mining “Bear” market on the run?
Market analysts suggest the five-year mining bear market may be ending, with gold up 17% since mid-December and copper rising 15% to $2.25/lb. Major mining stocks have seen dramatic recoveries, with some tripling in value since January lows, while the TSX Venture Exchange gained 23% from its January trough.
Federal Budget invests in mining essentials
The Mining Association of Canada welcomed the Liberal government's Budget 2016, highlighting key investments in regulatory agencies, Indigenous reconciliation, and clean technology innovation. The budget includes $1 billion over four years for clean technology in natural resources and renewal of the Mineral Exploration Tax Credit for junior explorers.
Soft mining market hasn’t softened acQuire’s commitment to its customers
acQuire Technology Solutions is maintaining its R&D investment and workforce despite challenging mining market conditions, investing 25% of profits in development while serving 450 mines globally with its GIM Suite software. The company is adapting its business model with subscription pricing and online training to make its geoscientific data management solutions more accessible to smaller mining companies.