Baffinland has clarified its plans for the expansion of its Mary River mine in Nunavut with the release of its 110 page proposal. Courtesy of Baffinland.
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Welcome back to your weekly mining news recap, where we catch you up on some of the news you may have missed. This week’s headlines include Teck’s acquisition of a solar energy facility, Titan’s successful takeover of Core Gold and Lucara Diamond’s partnership with Louis Vuitton.
Australia-based Titan Minerals has successfully taken over Core Gold after its previous attempt was rejected last July. Titan now controls 54.2 per cent of Core Gold’s issued and outstanding common shares at a final value of $0.523 per share, making it the majority shareholder of the company. The acquisition will expand Titan’s operations in South America by adding Core Gold’s assets in Ecuador to its existing portfolio in Peru.
A program from the Mining Industry Human Resources Council aims to close the gap between employers looking to hire from nearby Indigenous communities and youth with no industry experience. The 12-week program, Mining Essentials, provides Indigenous People with both theoretical training and hands-on experience at mine sites. Since its launch, 383 people have graduated from the program, 77 of whom are currently employed in the mining industry while 54 have sought further education.
Representatives from both the government and the mining industry believe that the Joint Action Plan on Critical Minerals Collaboration announced last week between Canada and the U.S. is a positive move for the country. The plan, which Natural Resources Canada says will increase bilateral cooperation and Canadian competitiveness in sectors such as uranium and rare earth elements, is aimed at promoting critical mineral supply chains in Canada. As China controls the global critical minerals market, developing these supply chains will decrease uncertainty for both countries.
There are an estimated 800 million tonnes of asbestos-laced tailings in former mining communities in Quebec’s Eastern townships and Chaudière-Appalaches regions. The Legault government has commissioned its public environmental consultation office to determine whether companies should be permitted to reprocess these tailings and to evaluate the risk to workers and nearby communities. The office will hear from researchers and concerned municipalities and residents before presenting its report to the environmental minister by July 24, as reported by The Montreal Gazette.
A public hearing in November 2019 on Baffinland Iron Mines’ expansion plan for its Mary River mine in Nunavut resulted in more questions than answers about the project. This week Baffinland released an updated information package on the project, answering questions regarding the proposed railway, marine shipping and iron ore production plans, as well as clarifying the proposed amount of ore to be extracted, as reported by Nunatsiaq News. Alongside the 110-page “Phase 2” proposal, Baffinland has planned multiple rounds of community visits in hopes of resolving disputes on the project before the public hearing resumes on March 25.
Stephen J.J. Letwin announced this week that he will retire from his position as CEO of Iamgold on March 1, 2020. The announcement is part of Iamgold’s ongoing succession planning as Letwin, who first became CEO of the company in 2010, will be succeeded by Gordon Stothart, president and COO.
Azimut Exploration announced the discovery of a gold mineralization at its Elmer property which the company says was staked based on predictive models generated by its proprietary AZtechMineTM expert system. Located in Quebec’s James Bay region, drilling at the Elmer project has yielded 3.15 g/t Au over 102.0 m including 10.1 g/t Au over 20.5 m. Additional drilling is needed to define its true width and extent.
Teck Resources has purchased SunMine, a solar energy facility located on the company’s former Sullivan Mine site, from the City of Kimberley in British Columbia. The sale is valued at $2 million for the 1.05 megawatt grid-connected solar facility and will help Teck gain experience with solar power generation for future projects. The SunMine acquisition aligns with Teck’s commitment to developing renewable energy sources, which currently account for 81 per cent of the company’s electricity use.
Taseko Mines’ new technical report for its Yellowhead Copper Project in British Columbia includes a 22 per cent increase in copper reserves, leading to an estimated total of 820 million tonnes ore reserves. The report estimates that project will have a pre-tax NPV of $1.3 billion with an eight per cent discount rate based on a long-term copper price of US$3.10/lb and an exchange rate of US$0.80:C$1. This represents a $500 million increase over a 2014 feasibility study.
Mining company Kameron Coal is close to resuming full production at Donkin mine following positive regular inspections, according to CBC. A series of rockfalls and a roof collapse in late December 2018 led to a month-long, full shutdown of the mine, which has since resumed production under a limited licence. Ground and ventilation plans for the project have been approved, and Kameron’s electrical plan for the mine is currently under review and is the “last piece of the puzzle” according to Harold Carroll, executive director of Nova Scotia Labour's occupational health and safety branch
Is the future of fashion upstream mineral processing? Luxury brand Louis Vuitton is looking beyond the runways of Paris and Milan, announcing an “unprecedented” collaboration with mining company Lucara Diamond. The two will be working with the diamond manufacturer HB Company in a partnership to polish and create a diamond collection from the historic 1758 carat Sewelô diamond. Lucara recovered the Sewelô diamond last April from its Karowe diamond mine in Botswana, the largest diamond recovered in the country.
Just look at this thing!
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