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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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Coal production in B.C. is a thriving industry
British Columbia's coal industry remains robust despite global headwinds, with Teck Resources operating five major open-pit mines in the Elk Valley that have produced over 500 million tonnes since 1898. The industry generated $4.6 billion in 2013, representing 58% of BC's mining revenues, with most production exported to Asian steel mills via expanded infrastructure at Westshore Terminal.
New Afton raises the bar with ISO 50001 Energy Management Standards
New Gold's New Afton copper-gold mine near Kamloops, BC has become the first mine in North America to achieve ISO 50001 energy management certification. The mine implemented comprehensive energy management across grinding, ventilation, crushing and mobile equipment operations, with BC Hydro funding improvements that save $300,000 annually.
Despite low prices, Canadian coal producers are doing better than most
Canadian coal producers are struggling with metallurgical coal prices down 70% over four years and global oversupply of 15-20 million tonnes. Teck Resources suspended production at six Western Canadian mines for one week each in July, August and September 2015, following dividend cuts and 600 job losses. Despite challenges, analysts say Canadian producers are better positioned than global competitors due to lower operating costs.
Taseko and Soda Creek Indian Band Sign participation and cooperation agreement
Taseko Mines Limited has signed a Participation and Cooperation Agreement with the Soda Creek Indian Band (Xat'sull) for the Gibraltar Mine operations in British Columbia. The agreement establishes a framework for collaboration on environmental and economic issues, with Chief Donna Dixon noting it provides capacity for direct engagement and supports community development initiatives.
Teck reports on Q2 earning—remains “cash flow positive”
Teck Resources reported Q2 adjusted profit of $79 million despite challenging coal market conditions, maintaining cash flow positive operations across all assets. The company announced rotating shutdowns at steelmaking coal mines affecting 4,400 workers in BC, while maintaining strong liquidity of over $6.5 billion.
Agnico Eagle Mines inked deal with Kivalliq Inuit Association
Agnico Eagle Mines signed an Inuit Impact and Benefit Agreement with the Kivalliq Inuit Association for the proposed Meliadine gold mine near Rankin Inlet, Nunavut. The agreement includes an initial $1.5 million payment and aims for 50% of mine jobs to be filled by Inuit beneficiaries, up from the current 30%.
Offering drillers a new way to reduce water consumption
Fordia has developed a new water treatment system (WTS) that allows drilling operations to recycle up to 80% of their water by separating cuttings from drilling fluids. The lightweight, portable system is currently being tested at customer sites and addresses municipal water restrictions that often force drilling operations to halt.
Temex Board receives superior proposal from Lake Shore Gold Corp.
Temex Resources Corp. received a superior acquisition proposal from Lake Shore Gold Corp. to acquire all outstanding Temex shares through a court-approved plan of arrangement. The offer provides Temex shareholders with 0.105 Lake Shore shares per Temex share, representing a 106% premium to recent trading prices.
Teck Announces Carmen de Andacollo gold stream
Teck Resources announced a long-term gold offtake agreement at its Carmen de Andacollo mine in Chile, receiving a $525 million advance payment from Royal Gold while increasing its cash position by $162 million. The deal restructures Teck's gold streaming arrangements and provides significant upfront capital for the company.
B.C. authorizes restricted re-start for Mount Polley Mine
The Mount Polley Mine in B.C. has been authorized to restart restricted operations after careful evaluation by provincial authorities. The mine will operate at roughly half capacity for up to 220 workers, with strict conditions including no water discharge off-site and use of Springer Pit for tailings management instead of the previous tailings facility.
Barrick’s Zaldivar copper mine draws final bids—Teck reportedly still in the running
Multiple major mining companies including BHP, Teck Resources, HudBay Minerals and China Molybdenum have submitted final bids for Barrick Gold's 50% stake in the Zaldivar copper mine in Chile. The mine is valued at over $2 billion with a decision expected by early August 2015.
Morrison Mine must undergo further assessment
British Columbia ministers have ordered Pacific Booker Minerals' Morrison copper-gold mine to undergo additional environmental assessment before approval. The government cited concerns about mine design risks, insufficient baseline data on Morrison Lake's ecosystem, and potential impacts on sockeye salmon. The company has three years to provide additional studies addressing water treatment capacity, fish habitat, and alternative mine designs.
Haul truck tire drives more than three and a half times around the globe
Syncrude Canada broke a tire performance record when a heavy haul truck tire at its Aurora mine lasted 11,158 hours and travelled 147,426 kilometres before replacement. The achievement represents significant cost savings given each tire costs $65,000 and is part of Syncrude's seven-year tire management program.
Skeena receives three-year exploration permit and mobilizes drills to Spectrum Gold Project
Skeena Resources has received a three-year drilling permit and is mobilizing two drills to its Spectrum high-grade gold project in northwestern BC's Golden Triangle. The company plans 10,000-12,000 meters of drilling in 50-60 holes starting July 2, aiming to expand the historic resource of 243,600 ounces at 12.3 g/t gold. A new 43-101 resource estimate is planned for fall 2015.
Saskatchewan ranks tops in Canada in Fraser Institute mining survey
The Fraser Institute's 2014 mining survey ranked Saskatchewan as the top Canadian jurisdiction and second globally for mining investment attractiveness, behind only Finland. British Columbia dropped significantly from 16th to 28th place, with policy concerns outweighing its strong mineral potential.
Teck could raise $1B from silver stream sales to Silver Wheaton, TD says
Teck Resources is reportedly considering selling approximately 75% of its silver production from three major mines to Silver Wheaton for around $1 billion. The potential deal would involve silver streams from the Antamina, Red Dog and Highland Valley mines, helping Teck raise capital for copper acquisitions while providing Silver Wheaton with immediate growth of 6.2 million ounces of annual silver production.
Mine 2015: PWC’s 12th annual review - top trends in the global mining industry
PWC's annual Mine 2015 report reviews a challenging year for the Top 40 mining companies, which lost $156 billion in market value amid prolonged commodity price downturns. Companies focused on cost reduction and capital spending cuts, while M&A activity slowed dramatically compared to the 2011 commodity price peaks.
Teck among final bidders for $2B Chilean copper mine
Barrick Gold Corp. is seeking a buyer for a 50% stake in its Zaldivar copper mine in Chile, with the asset potentially valued at over $2 billion. BHP Billiton and Teck Resources are among the final bidders, with some parties interested in acquiring the entire mine and a decision expected in July.
B.C. Mine Rescue teams battle for top spot in Smithers
British Columbia held its 60th annual Mine Rescue and First Aid Competition in Smithers, with teams from Huckleberry Mines, Highland Valley Copper, and Elkview Mine taking top honors across various categories. The competition tests emergency response capabilities and maintains BC's world-class mining safety standards, with over 30,000 people employed in the province's mining sector in 2014.
New Nadina Explorations wins land issue appeal
New Nadina Explorations won a Court of Appeal case that allows the company to continue exploration work on its Silver Queen property in BC. The court rejected arguments from landowners who were trying to block access to land where New Nadina discovered a copper-molybdenum-gold porphyry system in 2011.
Northern Shield Identifies Extensive Cu Mineralization From Sampling at its Huckleberry Project
Northern Shield Resources reported high-grade copper mineralization from reconnaissance sampling at its Huckleberry project in Quebec, with results up to 10.6% Cu and 16.9 g/t Pt+Pd+Au. The company identified four distinct mineralized zones across a 950-meter strike length, with the lower glomeroporphyritic gabbro zone showing the strongest results. The discovery is significant as it suggests a large-scale magmatic copper system with valuable platinum group element credits.
Mt Polley could re-open by the end of June - 370 to return to work
BC's mines minister predicts the Mount Polley gold-copper mine could reopen by end of June, bringing 370 workers back after being closed since August due to a tailings dam collapse. Imperial Metals has spent nearly $70 million on cleanup and is awaiting final permit approval from the province.
BC put $5 million into Geoscience BC for informed land-use decisions & mineral & energy exploration
The BC government announced $5 million in funding for Geoscience BC to support mineral and energy exploration investment and informed land-use decisions. This brings total provincial funding to over $30 million since 2005. The funding will support ongoing projects including TREK in the Interior Plateau and the Peace Project water resource management initiative in northeast BC's natural gas region.
Report by Philip Cross: Resources are more important to Canada than you think
A new Macdonald-Laurier Institute report by Philip Cross finds that natural resources contributed $260 billion (16.6% of GDP) to Canada's economy in 2010, with each dollar of resource output generating $2.32 in economy-wide GDP. The analysis shows resources accounted for 61% of all business investment in plant and equipment in 2013.