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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.
Canpotex nixes new Prince Rupert export terminal
Canpotex has decided not to proceed with construction of a new export terminal at the Port of Prince Rupert after determining it has sufficient capacity at existing terminals in Vancouver, Saint John and Portland. The decision was based on economic and commercial considerations regarding current and future capacity needs.
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.
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.
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.
Geoscience BC receives $5 million in new funding from BC government for earth science
Geoscience BC received $5 million in new funding from the BC government to support mineral, water and energy earth science programs. The organization announced it will launch its largest airborne magnetic survey to date this summer - the Search Phase II project covering 24,000 square kilometers in west-central BC. This survey will provide high-resolution magnetic data to identify hidden mineral potential in an area containing former copper-gold mines and the idled Endako molybdenum mine.
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.
Ktunaxa and Teck sign historic Impact Management and Benefits Agreement
Teck Resources and the Ktunaxa Nation Council signed a comprehensive 40-year Impact Management and Benefits Agreement covering Teck's five steelmaking coal operations in BC's Elk Valley region. The agreement addresses consultation, environmental stewardship, employment opportunities for Ktunaxa citizens, and cultural resources management.
Lisa Dooling joins Neptune Bulk Terminals
Neptune Bulk Terminals announced the appointment of Lisa Dooling as director of community and stakeholder engagement. The company handles Canadian potash and steelmaking coal exports through its Vancouver terminal, which is expanding capacity to 30 million tonnes annually.
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.
BC’s Auditor General issues scathing report on Mount Polley disaster
BC's Auditor General released a scathing report criticizing the province's mining regulatory oversight following the Mount Polley tailings dam failure. The report found major gaps in compliance and enforcement that failed to protect against environmental risks, with the disaster releasing 25 million cubic metres of wastewater into water systems.
UBC and industry partnership spurs metallurgical sector development in BC Interior
UBC has partnered with Teck Metals, Fenix Advanced Materials, and other companies in a $293,000 three-year research project to develop sustainable methods for extracting valuable metals from lead-zinc smelting byproducts. The initiative aims to create economic development opportunities in BC's Southern Interior by turning waste materials into value-added products for secondary industries in the Kootenay region.
Teck Reports 2015 Sustainability Performance
Teck Resources released its 2015 Sustainability Report showing the company achieved all sustainability goals for the year. Key highlights include a 25% reduction in high potential safety incidents, 200,000 tonnes of greenhouse gas emissions reduction since 2011, and improved water recycling averaging 4.5 times at mining operations.