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 a study into geothermal potential, a new copper innovation hub and avalanche mitigation advice.

Newmont Mining has approached Newcrest Mining, Australia’s biggest gold producer, with a US$17 billion takeover offer, as reported by Mining.com. If the bid is successful, the combined company would be 30 per cent owned by Newcrest and 70 per cent owned by Newmont. The offer is 4.7 per cent higher than a previous proposal that Newcrest rejected, but analysts have suggested that Newmont will have to improve its offer.

Power Nickel Inc. has partnered with Fleet Space Technologies to deploy a satellite-based exploration system at its Nisk property in Quebec. Power Nickel plans to use Fleet Space’s ExoSphere mineral exploration system, which relies on ambient noise tomography to generate a full 3D visualization of the subsurface to a depth of two kilometres, to find additional high-grade nickel sulfide deposits at the property.

Anglo American is investing $24 million in Canada Nickel, which will give it a 9.9 per cent minority interest in the Timmins-based miner, as reported by Northern Ontario Business. The deal includes an off-take agreement that gives Anglo the exclusive right to purchase up to 10 per cent of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates as well as any corresponding carbon credits from Canada Nickel’s Crawford project. Anglo will also use technology from its FutureSmart Mining program to assess ways to improve recoveries and reduce the project’s overall footprint.

Teck and the British Columbia Institute of Technology (BCIT) have opened the Teck Copper Innovation Hub in B.C. The mining company donated $1.75 million to establish the hub in order to help BCIT researchers and students explore how the antimicrobial properties of copper may be useful in healthcare devices such as prosthetics and orthotics.

Miners are looking for new pathways away from diesel and fossil fuels and towards clean power as the first net-zero deadline of 2030 approaches. Mining companies are considering greener energy sources as part of their strategies to reduce Scope 1 and Scope 2 carbon dioxide (CO2) emissions. Some possible solutions include on-site production of green hydrogen and collaborating with the geothermal industry.

Avalanches can be a risk for mining operations in snowy mountainous regions. However, there are measures mining companies can take to mitigate these risks, from forecasting during storms and making informed operational decisions, to using explosives to pre-emptively release an avalanche.

Barrick Gold delivered a significant increase in its gold resources and reserves in 2022, growing them by 6.7 million ounces net of depletion to a total of 76 million ounces, as reported by Canadian Mining Journal. The company’s profile as a copper producer is also growing, with its total attributable copper mineral resources more than doubling since 2021 to 12 billion pounds. Barrick president and CEO Mark Bristow attributed this to the company’s strategy of investing in organic growth through exploration and mineral resource management.

Many of Nova Scotia’s old underground and abandoned coal mines have geothermal potential, as reported by CBC News. The former Springhill coal mine, which closed in 1958, eventually filled with water that is heated by the Earth’s core and is used to heat parts of the town of Springhill. A new $80,000 study will examine the potential of using the geothermal energy in other parts of the county and across the province.

Saskatchewan-based company Cameco has gained profit due to the uranium price rise that followed the sidelining of Russian uranium supplies, as reported by The Northern Miner. The leading uranium producer in Canada reported net profit of $89 million in 2022, largely due to higher uranium prices caused by Russia’s invasion of Ukraine as well as the growing demand for nuclear power. Cameco also signed a deal with Ukraine’s nuclear authority to supply the country with all its uranium fuel from 2024 to 2035.

Two contractors have died in an unspecified incident near the tailings storage facility at Galiano Gold’s Asanko gold mine in Ghana, as reported by CBC News. The Vancouver-based mining company offered its condolences to the contractors’ loved ones, while MiningWatch Canada has called for an independent investigation into the incident.

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?