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 financial boost to help restart the Premier gold mine and mill in B.C., the continued ramp up of Artemis Gold’s Blackwater gold mine, and the official launch of Canada’s federal Indigenous Loan Guarantee Program. 

Equinox Gold is merging with Calibre Mining. The combined company, which will operate under the name Equinox Gold, could become the second-largest gold producer in Canada with two new major gold operations in the country—the Greenstone open-pit mine in Ontario, which achieved commercial production in November 2024, and the Valentine project in Newfoundland and Labrador, which is aiming for first gold pour in mid-2025. The merged company is expected to produce over 1.2 million ounces of gold annually from all of its operations across the Americas, and Greenstone and Valentine will produce 590,000 ounces of that total when both mines are operating at full capacity.   

Barrick Gold and Mali have reportedly reached an agreement to resolve a nearly two-year dispute over the miner’s operations in the country, as reported by Reuters. Under the deal, which will require formal approval from the Malian government, Barrick will pay Mali US$438 million in exchange for the release of its detained employees, the return of its seized gold, and the restart of the Loulo-Gounkoto mine complex. The agreement follows months of negotiations amid Mali’s efforts to increase revenue from its mining sector.  

Pittsburgh, U.S.-based aluminum producer Alcoa warned that U.S. President Donald Trump’s proposed 25 per cent tariff on aluminum imports is a bad idea in a country that relies heavily on imported aluminum, as reported by The Globe and Mail. The tariffs, set to begin on March 12, aim to boost U.S. production of aluminum, but Alcoa has lobbied Trump officials for an exemption for aluminum coming from Canada, as increasing smelter capacity would be difficult. In addition to its domestic smelters, the company produces aluminum in several jurisdictions outside the U.S., including in Quebec.  

Ascot Resources has secured a financing deal of up to $65 million to restart its Premier gold mine and mill in B.C. in July, as reported by The Northern Miner. In September 2024, Ascot halted operations at the mine just months after pouring its first gold due to delays in mine development. Then, last month, the company announced a further delay in the mine’s restart, attributing it to a shortage of skilled labour. Ascot was initially hoping to restart gold production in the second quarter of this year.  

Artemis Gold has ramped up operations at its Blackwater gold mine in central B.C. since the first gold pour on Jan. 29. The company shared that the crushing circuit is averaging 16,500 tonnes of ore per day, which is more than its nameplate capacity, while the ball mill is averaging over 12,500 tonnes of ore per day, which is over 75 per cent of its nameplate capacity. Commercial production at the Blackwater mine is targeted for the second quarter of this year. 

The Government of Canada officially launched its $5 billion Indigenous Loan Guarantee Program on Feb. 21, and also shared that an additional $6.2 million investment will support seven Indigenous-led energy and forestry projects in B.C. The $5 billion investment will offer loan guarantees, facilitating access to the capital necessary for Indigenous groups to pursue ownership in natural resource and energy projects. Interested applicants can visit the program’s eligibility and apply. 

West Red Lake Gold Mines has secured $20 million for the development of its Madsen gold mine in Red Lake, Ontario, as reported by Northern Ontario Business. The company plans to restart the mine—which it acquired in 2023 through a bankruptcy sale—this year, with first gold expected in March from a bulk sample and gold production planned to start in June. A prefeasibility study released by West Red Lake expects annual production of 67,600 ounces of gold over six years. 

FPX Nickel Corp. announced results from a scoping study that outlined the economic potential for the development of a standalone refinery in B.C. that would refine awaruite concentrate into battery-grade nickel sulfate for the electric vehicle industry. The project would produce 32,000 tonnes of nickel contained in battery-grade nickel sulfate per year over a 40-year operating life, along with valuable byproducts, including copper and cobalt. 

Natural Resources Canada announced over $1.8 million in funding in November 2024 for Arca Climate Technologies to further develop its microwave-based mineral activation technology, which can enhance the carbon capture capacity of minerals in ultramafic tailings, as reported by Alice Martin for the February issue of CIM Magazine. The process helps to speed up carbon mineralization, with a focus on serpentine minerals, to capture and store CO2. The funding will aid Arca in scaling up its technology, which will improve its ability to process larger volumes continuously.  

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?