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 additional safety measures at Suncor, the shaft completions at BHP’s Jansen project and Pure Gold’s search for a buyer or investor.

Agnico Eagle and Pan American Silver have announced an offer to acquire Yamana Gold’s mining operations. The combination cash and share offer values each Yamana share at US$5.02. The deal would see Pan American take control of four operating mines in South America, while Agnico would gain full control of the Canadian Malartic joint venture it currently co-owns with Yamana. Later this month, Yamana shareholders are scheduled to vote on an all-stock acquisition offer from Gold Fields made earlier this year.

The Government of Canada announced on Wednesday that it will require three Chinese firms to divest from three Canadian-listed critical minerals companies; Power Metals Corp., Lithium Chile and Ultra Lithium. According to François-Philippe Champagne, minister of innovation science and industry, this was done to protect Canada’s critical minerals supply chain domestically and internationally.

Enterprise resource planning (ERP) software is proving beneficial to those working in extractive industries. The software can aid mining workers with the management of materials, the allotment of resources, the structuring of business processes and more. ERP also plays an important role in the mining industry by managing regulations surrounding dangerous goods.

Suncor Energy is implementing additional safety measures after it saw five deaths since 2019 at the company’s various project sites, as reported by Reuters. These new measures include the company cutting back its contractor employees, introducing collision awareness technology on mining equipment and offering more training for team leaders.

BHP’s Saskatchewan-based Jansen potash project now features the province’s two deepest shafts, as reported by Mining.com. Measuring 1,000 metres deep, the mining site team has completed the excavation and lining of both shafts at Jansen. This milestone follows BHP’s decision earlier this year to speed up construction on the US$5.7-billion project to capitalize on the expectation of a tighter potash market. BHP anticipates first production from Jansen in 2026.

Glencore will replace the electric furnace at its Sudbury Integrated Nickel Operations site, as reported by CBC News. The project, which is expected to cost over $100 million and be completed by 2026, will replace the current electric furnace that was commissioned in 1978.

Pure Gold Mining has begun looking for a new buyer or investor to take over its Red Lake mine and mill project after filing for insolvency, as reported by Northern Ontario Business. All operations at the Red Lake site were suspended on Oct. 24, with the company qualifying for creditor protection by the B.C. Supreme Court eight days later. Court documents revealed that the company plans to present an application to the Supreme Court in the near future in order to commence the court-supervised sale and investment process.

Canada’s Fall Economic Statement includes several measures that are beneficial to the mining industry, according to the Mining Association of Canada. These include the government’s future implementation of an up-to-30-per cent tax credit for clean technology investments, the introduction of a Canadian Innovation and Investment Agency to aid some of the country’s mining companies in expanding and offering new positions, a future hydrogen investment tax credit and more.

More third quarter reports have been released this week:

B2Gold recorded a net loss of US$21.23 million in the third quarter, producing 227,016 gold ounces at an all-in sustaining cost (AISC) of US $1,169 per gold ounce.

Barrick Gold reported earnings of US$241 million in Q3. The company produced 988,000 ounces of gold at an AISC of US$1,269 per ounce, and 123 million pounds of copper at an AISC of US$3.13 per pound.

Newmont’s net income was US$466 million. The company produced 1.49 million ounces of gold and 299,000 gold equivalent ounces from co-products, with an AISC of US$1,271 per ounce.

Sherritt recorded a net loss of $26.9 million during the third quarter, producing 4,443 tonnes of nickel at a net direct cash cost of US$6.76 per pound, and 419 tonnes of cobalt.

Hudbay Minerals reported a loss of US$8.1 million, producing 24,498 tonnes of copper and 53,179 ounces of gold at an AISC of US$2.16 per pound and US$1,045 per ounce, respectively.

Calibre Mining produced 161,530 ounces of gold at an AISC of US$1,322 in Q3, and listed its net income at US$1.71 million.

That’s all for this week. If you’ve got feedback, you can always reach us at editor@cim.org. If you’ve got something to add, why not join the conversation on our Facebook, Twitter, LinkedIn or Instagram pages?