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 big investment in two Canadian critical minerals projects, miners seeking exemption from the capital gains tax hike and highlights from this week’s CIM Connect conference in Vancouver. 

Panels and discussions explored a variety of key issues in mining at the CIM Connect Convention + Expo 2024 in Vancouver this week. The event kicked off on Monday with an opening plenary session focused on Canada’s critical advantage in the global energy transition, where panelists also delved into the need for more genuine relationships with Indigenous communities and how perceptions of the industry could be improved. 

Tuesday’s session homed in on how partnerships with Indigenous communities and educational institutions can benefit the mining industry. Wednesday’s General Panel Session explored how environmental, social and governance standards have evolved over time, while also looking at the need to find a balance between retaining and attracting women to the industry.  

The CIM Awards were presented to over 56 people and mining and metals organizations on May 13 during the CIM-Caterpillar Awards Gala as part of the 2024 CIM Connect Convention + Expo. Over 15 industry awards were given out, including the new Indigenous Partnership Award, which acknowledges outstanding and sustainable partnerships with, and between, Indigenous communities.  

The Wednesday Delegates’ Lunch at CIM Connect featured presentations on digital innovation and responsible mining. Teck Resources’ Greg Brouwer gave advice for mining companies that are considering the use of advanced analytics at their operations, informed by lessons Teck has learned in the five years since it began implementing these technologies. Sixth-grade student Nivritti Vikram talked about how her peers view the mining industry, and why she thinks the industry needs to listen to young people.  

BHP’s revised bid of $58.5 billion for Anglo American was rejected on Monday, with shareholders from both companies anticipating the arrival of a third offer before next week’s regulatory deadline, as reported by Bloomberg. In the meantime, Anglo has attempted to thwart the takeover by spinning off its less profitable diamond, platinum and coal assets to focus on copper and iron ore. Unnamed shareholders from both BHP and Anglo told Bloomberg that there is still the possibility of a better offer before the May 22 deadline.  

Canadian mining companies are seeking an exemption from the federal government’s proposed hike to capital gains taxes, as reported by the Financial Post. The increase could make it more difficult for junior mining companies to attract investment in mineral exploration. The revised rate was part of this year’s federal budget and expands the proportion of taxable gains from 50 per cent to two-thirds.  

A significant wildfire is burning close to the city of Fort McMurray in Alberta and is now located 5.5 kilometres from the city’s landfill. Roughly 6,000 people living in southwest suburbs surrounding the city were instructed to evacuate on May 14. While the area has received some rain in the last few days, officials said that there has not been enough rain to shrink the wildfire or reverse the evacuation order. 

A pair of Canadian companies with critical minerals projects will receive multimillion-dollar investments from both the Canadian and United States governments. Fortune Minerals will get $7.5 million from the Canadian government and $8.7 million from the U.S. government to help advance the company’s bismuth, cobalt, copper and gold project in the Northwest Territories. The Canadian and U.S. governments are committing $4.9 million and $11.4 million respectively to Lomiko Metals to help it create a pilot plant to upgrade natural flake graphite into battery-grade anode material and to advance technical studies for the company’s La Loutre graphite project in Quebec.  

Automation is improving development drilling at underground mining operations by enhancing safety and productivity thanks to the use of artificial intelligence, as reported by Nathan Munn for the March/April issue of CIM Magazine. Some companies, such as Epiroc and Sandvik, are leading this transformation with new innovations, including smart development rigs and completely autonomous drilling machinery.  

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?