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 research indicating that economic factors are driving mining delays in B.C., Agnico Eagle buying O3 Mining and Newmont’s corporate restructuring.

According to a new report from Verisk Maplecroft, geopolitical tensions are driving a rise in state intervention and protectionism in Western democracies, with a focus on securing access to critical minerals. The company’s Resource Nationalism Index, used to monitor government control in the mining and energy sectors across 198 countries, revealed that 72 countries have experienced significant rises in interventionist policies and protectionism over the past five years. For instance, Canada recently strengthened its foreign investment rules in September, which analysts say could potentially deter international companies from investing in Canadian miners.

ICMM announced that its members have committed to introducing additional measures to protect underground mine workers from exposure to diesel particulate matter (DPM), which can lead to serious health issues. Measures like advanced ventilation, high-quality protective equipment, low-sulfur fuels and zero-emission equipment can help safeguard employee health. ICMM also released the DPM Good Practice Guide, which offers a framework for managing DPM exposure by highlighting both proactive and reactive control measures.

Imperial Metals Corp. and two associated companies have been charged with 15 violations of the federal Fisheries Act for the 2014 Mount Polley tailings dam failure, where roughly 25 million cubic metres of tailings and wastewater were released into rivers in B.C., as reported by CBC News. The companies will appear in B.C.’s Supreme Court on Dec. 18 and could face fines of up to $6 million depending on the ruling.

A new audit is questioning the industry narrative that government regulations are slowing down the development of mining projects in B.C., as reported by Business in Vancouver. The study, which was published in the Canadian Science Publishing journal FACETS, found that only three out of 20 delayed B.C. mining projects cited regulations as a problem, while most reported economic factors like commodity prices as the primary cause of delays instead. The audit also revealed that just over half of the mines approved in B.C. since 1995 have never opened, often due to financing challenges or poor market timing. It concluded that B.C. government approvals are frequently granted for projects that lack economic viability, with many falling short of revenue forecasts.

Agnico Eagle Mines will acquire O3 Mining Inc. for around $204 million in what it is calling a “friendly” transaction. The deal includes O3 Mining’s Marban Alliance property, which is adjacent to Agnico Eagle’s Canadian Malartic operations in the Abitibi region of Quebec. The transaction is subject to shareholder approval and other conditions, with the offer remaining open until Jan. 23, 2025, and O3 Mining’s board of directors have recommended that shareholders accept the offer.

Newmont Corp. has laid off nearly a dozen managers, including an executive, as part of a significant corporate restructuring, which includes consolidating several business units, as reported by Bloomberg. The decision follows a poor earnings report and investor criticism regarding mounting costs. The company said the restructuring is also a response to its US$19.2 billion merger deal with Newcrest Mining in 2023.

Lundin Mining Corporation has agreed to sell two European copper-zinc-lead-silver mines—its Neves-Corvo mine in Portugal and its Zinkgruvan mine in Sweden—to Boliden AB for up to US$1.52 billion. The sale, which is expected to close in mid-2025 pending regulatory approvals, will boost Lundin’s balance sheet and assist in the expansion of its portfolio in South America. Lundin and BHP acquired Filo Mining Corp. and its Filo del Sol copper-gold-silver project that straddles the border of Argentina and Chile for US$3 billion earlier this year.

Trouble continues to brew in Mali for Canadian mining companies. Mali's military junta has issued an arrest warrant for Barrick Gold CEO Mark Bristow, accusing him of money laundering and financial violations, as reported by Reuters. Mali is pressuring foreign mining companies for a bigger piece of the pie as gold prices rise. It briefly detained four Barrick employees in September, then arrested and charged them last month. Mali has also issued an arrest warrant for Cheick Abass Coulibaly, general manager of Barrick's Loulo-Gounkoto mining complex.

Torex Gold Resources has restarted operations at its El Limón Guajes mine in Mexico after a carbon monoxide leak killed three workers last week, as reported by Mining.com. The incident occurred when workers entered a restricted area following a stope blast. Investigations by both Torex and Mexican authorities are under way. Mexican President Claudia Sheinbaum has called for increased mine inspections, stating that Canadian mining companies are not upholding the same safety standards in Mexico. Torex also shared that its 2024 production guidance remains unchanged, as does development of its nearby Media Luna project.

Software platforms like SourceOne, ABB Ability and Aveva's CONNECT are facilitating the integration and analysis of large volumes of data in mining operations, as reported by Nathan Munn for the November issue of CIM Magazine. These systems are being used to enhance decision-making, increase efficiency and extend equipment life. This move towards digitalization is driving improvements in sustainability and overall operational performance.

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?