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Mines.
A great deal of exploration, assessment and consideration of logistical details must occur before a mine can begin operation—and once it does, there are many things that can impact its success. In Canadian Mining & Energy, we look at t...
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Centerra Gold buys Thompson Creek Metals
Centerra Gold announced a $1.1 billion acquisition of Thompson Creek Metals, gaining control of the Mount Milligan gold-copper mine in British Columbia and the Thompson Creek molybdenum mine in Idaho. The deal includes amending Royal Gold's streaming agreement to maximize gold exposure and is expected to create a diversified, low-cost producer with 675-725 Koz annual gold production.
Goldcorp’s McPherson joins MX Gold as President and COO
MX Gold Corp has appointed Hugh 'Bert' McPherson as President and COO to lead operations at their Willa and Max mining operations in BC's Kootenay region. McPherson brings 37 years of experience including recent leadership at Goldcorp's Peñasquito Mine in Mexico, one of the world's largest gold producers.
De Beers completes KIM sampling at West Athabasca
De Beers has completed collection of over 100 kimberlite indicator mineral samples from CanAlaska's West Athabasca diamond project in Saskatchewan. The samples will be processed to establish evidence for kimberlite intrusives, with a high-resolution airborne magnetic survey planned to prepare targets for drilling under their $20.4 million exploration agreement.
East Kootenay MLA and BC Mines & Energy Minister announces he won’t seek re-election
Bill Bennett, British Columbia's Minister of Energy and Mines and long-serving MLA for East Kootenay, announced he will not seek re-election in spring 2017 after 16 years in office. Bennett has held multiple cabinet positions including Tourism Minister and currently oversees the province's mining and energy portfolio. His departure represents a significant change in BC's mining and energy leadership ahead of the 2017 election.
Cummins Sparwood embarks on constructing new building
Cummins Western Canada has begun construction on a new expanded facility in Sparwood, BC to better serve the Elk Valley coal mining operations. The new building will relocate and expand their current 29-employee branch that services high-horsepower diesel engines for haul trucks at all five Teck coal mines in the region.
Kirkland Lake Gold appoints Anthony Makuch new CEO
Kirkland Lake Gold appointed Anthony Makuch as new CEO following George Ogilvie's resignation. Makuch brings over 25 years of mining experience, notably as CEO of Lake Shore Gold where he increased production and reserves while lowering costs. The company is targeting 270,000-290,000 ounces of annual gold production from its Ontario operations.
Resilience is the key to surviving downturns
Amec Foster Wheeler's Mining & Metals Americas president Duane Gingrich outlined strategies for surviving commodity downturns through business resilience, technological innovation, and diversified service offerings. The company is maintaining activity in environmental consulting and production improvement projects despite the current downturn. Gingrich emphasized that innovation and efficiency improvements are key to lowering costs and that the industry must better promote itself to attract skilled personnel.
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.
Despite challenging market conditions, some B.C. mining projects going ahead
The 2015 PwC BC Mining Industry Survey reveals continued challenges for B.C.'s mining sector with revenues falling from $8.2 billion to $7.7 billion, though some projects like Pretium's $700 million Brucejack Gold Project are advancing to construction. Despite commodity price pressures, particularly copper dropping from $3.12/lb to $2.50/lb, industry leaders see potential recovery signs with recent gold and silver price increases.
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.
Margaux Resources announces 2016 drilling program at Jersey Emerald Tungsten-Zinc property
Margaux Resources announced a 2016 drilling program at the historic Jersey Emerald property in southeastern British Columbia, aiming to revitalize one of the Kootenay's oldest mine sites. The property includes Canada's second largest historic tungsten mine and British Columbia's second largest historic lead-zinc mine, both inactive since 1973.
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.
Vancouver-based SSRI buys Saskatoon’s Claude Resources
Silver Standard Resources Inc. has agreed to acquire Saskatoon-based Claude Resources Inc. for C$337 million through a share exchange deal. The combined company will produce approximately 390,000 gold equivalent ounces in 2016 at cash costs of $735 per ounce, creating a mid-tier precious metals producer with assets across the Americas.
Kennady Diamonds Completes 2016 Winter Drilling Program
Kennady Diamonds completed its most successful winter drilling program to date, drilling 10,712 meters across 74 holes and discovering the new Faraday 3 kimberlite. The company recovered four diamonds from drill core and successfully bulk sampled 580 tonnes from Kelvin North Lobe, with processing expected to yield over 1,200 carats for valuation.
PwC BC Mining Report 2015: The worst is behind us
PwC's 2015 BC Mining Survey shows gross mining revenues fell to $7.7 billion from $8.2 billion in 2014, with 2,000 direct jobs lost due to mine closures. Despite challenges, two new mines started production and $272 million was spent on exploration, with industry leaders expressing cautious optimism that the worst may be behind them.
Uranium explorer may have uncovered massive kimberlite field in the Athabasca Basin
CanAlaska Uranium discovered what appears to be a massive kimberlite field in Saskatchewan's Athabasca Basin using government magnetic survey data, revealing 75 kimberlite targets. De Beers has signed a $20.4 million deal to explore the project, validating the region's diamond potential and potentially launching Canada's next diamond boom.
CanAlaska enters into $20.4 million option with De Beers for diamond exploration in Saskatchewan
CanAlaska Uranium has entered into a $20.4 million option agreement with De Beers Canada for diamond exploration on 75 kimberlite targets in Saskatchewan's Athabasca Basin. The multi-phase agreement allows De Beers to earn up to 90% interest over seven years while CanAlaska retains participation rights after the 70% threshold.
Ames Construction crews are making an important contribution to the K+S Legacy project
Ames Construction is completing major infrastructure work for K+S's Legacy potash mine in Saskatchewan, including rail spur construction connecting to Canadian Pacific's network. The Legacy mine represents Saskatchewan's first new greenfield potash project in 40 years and will use underground solution mining to reach capacity by late 2017.
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.
Goldcorp announces acquisition of Kaminak Gold Corporation in $520 million deal
Goldcorp announced a $520 million acquisition of Kaminak Gold Corporation to acquire the Coffee Gold project in Yukon. The deal values each Kaminak share at C$2.62, representing a 40% premium, and adds 3.0 million ounces of indicated gold resources to Goldcorp's development pipeline.
Mining Association of B.C. announces Robert G. Scott as the 2015 Mining Person of the Year
The Mining Association of B.C. named Robert G. Scott, former Senior Vice President of Zinc at Teck Resources, as the 2015 Mining Person of the Year. Scott led Teck's Trail Operations to set production records in zinc, silver and indium during 2015 while reducing operating costs and improving safety. The award was presented during B.C. Mining Week in May 2016.
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.
Gahcho Kué—The land of diamonds
Mountain Province Diamonds and De Beers Canada's Gahcho Kué diamond mine in the Northwest Territories is over 90% complete and set to begin production in September. The billion-dollar project is projected to become the world's largest diamond mine with $300 million in annual revenue over a 12-year lifespan.