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Mining Insider.
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Mining’s contributions to Canada strong despite downturn
The Mining Association of Canada's Facts & Figures 2015 report shows mining contributed $57 billion to Canada's GDP in 2014 despite market volatility. The industry directly employed over 375,000 people and remains the largest private sector employer of Aboriginal peoples proportionally.
Dominion Diamond Corporation reports MVEIRB’s recommendation for approval of Jay Project
The Mackenzie Valley Environmental Impact Review Board has recommended approval of Dominion Diamond Corporation's Jay Project, subject to specific measures outlined in their environmental assessment report. The Jay deposit could extend Ekati mine life by 10-11 years beyond the current 2020 closure date to at least 2030.
Imperial reports Huckleberry Mines Ltd. provides notice to suspend operations
Imperial Metals announced that Huckleberry Mines Ltd. will suspend operations at the Huckleberry Mine by the end of August 2016 due to declining copper prices. The mine will be placed on care and maintenance until copper prices improve, despite significant cost reduction efforts.
Liebherr-Canada Ltd. unveils impressive new and improved facilities
Liebherr-Canada completed $24 million in facility investments during 2015, including a new state-of-the-art mining remanufacturing facility in Acheson, Alberta and an expanded facility in Burlington, Ontario. The company also appointed Tim Petersen as Managing Director to help lead the expanding business with over 330 employees.
PDAC recommends measures to support the Canadian mineral exploration sector in pre-budget submission
PDAC submitted pre-budget recommendations to the federal government calling for a temporary increase of the Mineral Exploration Tax Credit to 30% and dedicated infrastructure funding for northern Canada. The submission highlights that exploration financing has fallen over 90% since 2007, threatening Canada's junior exploration sector.
Kickstarter campaign hopes to pay tribute to Robert Service and his influence on mining in Canada
Kurt Breede from Watts, Griffis, and McQuat Ltd. has launched a Kickstarter campaign to fund production of a teaser trailer for 'Klondike - The Shooting of Dan McGrew,' a screenplay based on Robert Service's Klondike Gold Rush poems. The project aims to pay tribute to Service's contributions to Canadian literature and highlight mining's role in shaping Canada's northern identity.
The search is on to recognize engineers who have excelled in the Canadian Metals industry
The Metallurgy & Materials Society of CIM announced its 2016 awards program to recognize excellence in the Canadian metals industry, with nominations open until March 1, 2016. Recipients will be honored at the 55th Annual Conference of Metallurgists in Quebec City on September 12, 2016, with support from major industry sponsors including Hatch, Rio Tinto, and Teck Resources.
Discovery Ventures Inc. appoints new “QP” and Head of Technical Services
Discovery Ventures Inc. has appointed Lorne Warner, P.Geo, as its new Qualified Person and Head of Technical Services. Warner brings over 30 years of experience and was instrumental in discovering several mineral deposits including the M Gold Zone at Detour Lake Mine. The appointment aims to advance the company's WillaMAX Project in British Columbia's Kootenays region.
PotashCorp putting New Brunswick Picadilly mine on care-and-maintenance mode
Potash Corporation of Saskatchewan announced the indefinite suspension of its Picadilly, New Brunswick potash operations, resulting in 420-430 job losses. The company will maintain a skeleton crew of 35 employees for care-and-maintenance while offering relocation to Saskatchewan operations for over 100 positions.
Suncor raises offer, finally reaching agreement with Canadian Oilsands in takeover bid
Suncor Energy Inc. has reached agreement with Canadian Oil Sands Limited for a revised takeover offer valued at approximately $6.6 billion, with COS shareholders receiving 0.28 Suncor shares for each COS share. The deal has been approved by both boards of directors and is recommended by COS despite a 37% decline in oil prices since the initial offer.
Teck sues Alaska over massive tax hike
Teck Resources has filed a lawsuit against Alaska over proposed tax increases that could more than triple the company's annual payments and threaten the competitiveness of its Red Dog zinc mine. The Vancouver-based company argues the tax hike could put jobs at risk at one of the world's largest zinc operations.
MGX Minerals receives approval of mining lease for Driftwood Creek magnesium project
MGX Minerals received approval for a 20-year mining lease for its flagship Driftwood Creek magnesium project near Brisco, BC. The company has also purchased a former Tembec millsite in Cranbrook to process the magnesium, potentially employing 40-50 people.
SMS launches new “Advanced Technologies” identity
SMS Equipment Inc. has launched a new 'Advanced Technologies' umbrella brand to consolidate all their technology offerings across industries. The rebrand will integrate telematics, intelligent machine control, and autonomous haulage systems under one identity, with plans for a dedicated training center.
Oil price drop improves mining companies’ position regarding long-term renewable energy contracts
Falling oil prices have improved mining companies' negotiating positions for long-term renewable energy contracts. While lower diesel costs make the immediate business case for solar and wind less attractive, mining companies can now lock in favorable 20+ year power purchase agreements before oil prices recover.
Widow of geologist Michael J. Fitzgerald wins litigation and clears her late husband’s name
Marisa Fitzgerald, widow of geologist Michael J. Fitzgerald, has won a 16-year legal battle against Mountainstar Gold Inc. Multiple courts across jurisdictions cleared her late husband of improper conduct in staking claims that led to Barrick's Goldstrike gold deposit in Nevada. Courts ruled Mountainstar's claims were vexatious and brought in bad faith.
New B.C. mines moving ahead in 2016
B.C. Energy and Mines Minister Bill Bennett highlighted several new mine developments moving forward in 2016 despite challenging market conditions. Pretium Resources raised US$540 million for its Brucejack gold mine construction, while JDS Silver's Silvertip project and other developments are also advancing.
Kaminak Gold Corporation announces positive feasibility study results on Yukon Coffee Gold Project
Kaminak Gold completed a positive feasibility study for its Coffee Gold Project in Yukon, showing a C$455 million NPV and 37% IRR with 10-year mine life producing 184,000 ounces annually. The company plans to begin permitting in 2016 with mine construction targeted for mid-2018, supported by $28 million in current financing.
Saskatchewan’s Cameco sets production outlook for Cigar Lake operation
Cameco announced that its Cigar Lake uranium operation is expected to produce 16 million packaged pounds of uranium concentrate in 2016, with Cameco's share being 8 million pounds. The production target is subject to regulatory approval to increase the McClean Lake mill's licensed production capacity from 13 million to accommodate the higher output.
GFS Corp names Wajax and Cullen Diesel Power as new Canadian Distributors
GFS Corp has appointed Wajax and Cullen Diesel Power as Canadian distributors for its EVO-MT natural gas conversion systems for mining haul trucks. The announcement comes as Teck Resources begins a pilot program testing LNG fuel in Komatsu haul trucks at its Fording River coal operation, with approximately 300,000 operating hours already accumulated across converted fleets.
PT Freeport Indonesia invests in largest operator training simulator deal of 2015
PT Freeport Indonesia has made the largest operator training simulator investment of 2015, expanding their training program with underground equipment simulators from Immersive Technologies. The investment covers light vehicles, underground LHDs, trucks, jumbo drills, locomotives and Cat Command systems to improve operator safety and skills as their underground operations at the world-class Grasberg copper-gold deposit expand.
Goldcorp CEO Charles Jeannes to retire; board names successor
Goldcorp announced that CEO Chuck Jeannes will retire following the April 2016 annual general meeting after seven years of leadership. David Garofalo, current CEO of HudBay Minerals, will succeed him as President and CEO and join the board of directors.
BC Gov’t takes action on Chief Inspector of Mines’ recommendations on Mt Polley
The BC government announced it will implement all 19 recommendations from the Chief Inspector of Mines' investigation into the August 2014 Mount Polley tailings dam failure. The investigation found the dam failed due to an undetected clay layer beneath it, with weak operational practices exacerbating the environmental damage. New regulations will require dedicated dam safety managers, independent technical review boards, and administrative penalties for non-compliance by spring 2017.
M&E story results in BBN live interview for Cranbrook-based company
Caliper Machine and Hydraulics Ltd., a Cranbrook-based company, secured a live interview on BNN Commodities after being featured in Mining & Energy magazine. The company specializes in innovative products for mining companies that reduce costs and increase efficiency during the resource sector downturn.
Napier Ventures announces proposed acquisition of Emerald Isle property
Napier Ventures has entered into an agreement to acquire 100% interest in 78 mining claims in Arizona and Colorado from Emerald Copper Corp for a 2% NSR royalty and $200,000 promissory note. The primary focus is the Emerald Isle copper property in Arizona, which has a historical resource estimate of 2.22 million tons at 0.62% copper, though there are ongoing claim disputes with another company.