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 ex-Barrick executives assisting Malian leaders in gold dispute, Manitoba investing in Port of Churchill upgrades and Suncor setting upstream production records.

Canada’s mining industry has raised concerns about the impact of U.S. President Donald Trump’s threat of 25 per cent tariffs on Canadian goods—which are now paused until March 4. Tariffs could harm aluminum and steel producers, leading to supply chain disruptions and compelling Canadian companies to explore new markets. For U.S. consumers, the tariffs could result in higher energy prices and negatively affect businesses that depend on Canadian resources, such as aluminum.

Meanwhile, in response to the U.S. implementing 10 per cent tariffs on Chinese imports, China has imposed export restrictions on tungsten, tellurium, bismuth, indium and molybdenum, as reported by Reuters. Export licences, which do not specifically target the U.S., will now be required for shipments of the five critical minerals in what the Chinese government called an effort to protect its national security interests. Licensing processes may cause export delays and lead to disruptions, especially for the U.S., which does not produce tungsten or bismuth and depends on imports of these minerals.

Also in response to the trade policies of the new U.S. administration, the B.C. government plans to fast-track 18 critical minerals and energy projects in the province, totalling $20 billion in value, as reported by The Canadian Press. Projects on the list include the Highland Valley Copper mine life extension and the expansion of the Red Chris gold and copper mine. Together, the 18 projects are expected to create around 8,000 jobs. The province is also looking into expediting other projects.

Two former Barrick Gold executives who work in Mali are helping with the military-led government’s push for around US$200 million in back taxes from the miner, as reported by Reuters. In January, the government seized around three tonnes of gold stocks worth US$245 million from Barrick’s Loulo-Gounkoto mining complex. Mali has also introduced a new mining law requiring companies to divest a 35 per cent share of new projects to Malian investors, up from 20 per cent, and to increase royalty taxes from approximately six per cent to 10.5 per cent.

The Manitoba government is allocating $36.4 million over two years to the Arctic Gateway Group (AGG) for infrastructure projects at the Port of Churchill. This funding will unlock new international trade opportunities for the province, support the AGG’s port and rail development plan and create jobs, according to Manitoba Premier Wab Kinew. Upgrades will include wharf repairs and freight warehouse improvements. In August 2024, a shipment of zinc concentrate departed from the Port of Churchill, establishing the port as a key route for the export of critical minerals to global markets.

The federal government announced on Feb. 6 that it is investing up to $39.8 million in conditionally approved funding for critical minerals infrastructure in Quebec. The largest investment will provide up to $20 million for Critical Elements Lithium Corporation to build a new electrical substation and move 4.2 kilometres of power transmission infrastructure to supply its Rose lithium-tantalum project in Eeyou Istchee James Bay.

Suncor reported record upstream production in its 2024 fourth quarter results, highlighting a total of 875,000 barrels per day, the highest quarterly upstream production in the company’s history. The result was driven by strong mining performance and record production at its Firebag in-situ operation in Alberta.

The University of the Fraser Valley (UFV) in B.C. has received funding from the Canadian Foundation for Innovation to purchase a new instrument for its Luminescence Dating Laboratory, which doubles the instrumental capacity of the lab and could help to locate critical mineral deposits in Canada. The instrument, worth $160,000, is being built in Denmark and is set to arrive at UFV sometime this year. The UFV team uses luminescence dating for drift prospecting—analyzing the minerals from glacial sediment to determine the location of the ore bodies they were eroded from—which has cost advantages compared to analyzing the minerals using traditional geochemical methods.

B2Gold Corp. has released a preliminary economic assessment (PEA) for the Antelope deposit at its Otjikoto gold mine in Namibia. The PEA evaluated an underground mine at the deposit that would produce around 327,000 ounces of gold over its initial five-year mine life, with average annual production of roughly 65,000 ounces. The estimated pre-production capital cost for developing the mine is US$129 million.  

Satish Rao, managing director at international strategy consulting firm Clareo, spoke with Mehanaz Yakub for the December/January issue of CIM Magazine, about lessons the mining industry could learn from the oil and gas industry. He highlighted the oil and gas industry’s improved success rate in exploration, accelerating permitting, and utilizing technologies like 3D seismic imaging and quantum sensing for deep exploration. He noted that, while many mining companies focus on extending operations at existing mines, shifting attention to invest in more greenfield exploration could enhance mineral discoveries.

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?