Welcome back to your weekly mining news recap, where we catch you up on some of the news you may have missed. This Halloween Friday, we’re unearthing the latest developments in the mining industry, with no tricks, just treats! 

Electra Battery Materials is now fully funded to complete what will be North America’s first cobalt sulfate refinery in Temiskaming Shores, Ontario, securing over US$80 million through financing, debt equitization and government support, The Northern Miner reported. The US$250 million facility, once operational, is expected to produce up to 6,500 tonnes per year of battery-grade cobalt sulfate for electric vehicles, as well as the defence and energy sectors. 

Agnico Eagle Mines has formed Avenir Minerals Limited, a subsidiary to manage almost US$80 million in early-stage critical minerals investments distinct from its core copper and gold assets, Mining.com reported. Agnico will commit US$50 million, retain first-refusal rights on future opportunities, along with the option to invest additional capital to the subsidiary. Avenir will operate independently, focusing on Canadian projects. 

Glencore’s Sudbury Integrated Nickel Operations has begun closing the Fraser nickel-copper mine, which has been in operation since 1963, Canadian Mining Journal reported. The final ore shipment from Fraser is expected in December. A transition plan is in the works for the 263 employees affected by the closure, with the company exploring opportunities for them to transfer to other Sudbury operations or to roles within other Glencore businesses. 

Perpetua Resources has secured US$255 million from JPMorgan and Agnico Eagle to advance its US$1.3 billion Stibnite gold-antimony project in Idaho, which has been fast-tracked for U.S. critical minerals supply, Mining.com reported. Construction on the project began last week, and it is expected to produce 450,000 ounces of gold annually, which is enough to meet more than 35 per cent of the antimony demand in the United States during its first six years of operation. 

Newmont is rumoured to be exploring a potential deal to take control of Barrick Mining’s interest in Nevada Gold Mines, a joint venture that Newmont currently holds a minority stake in, Bloomberg reported. The JV’s assets include 10 underground mines, 12 open-pit mines and various processing facilities. Options could include buying Barrick’s stake or a full takeover with non-core divestments.  

Canada is driving G7 talks in Toronto to form a critical minerals alliance aimed at reducing reliance on China’s dominant supply chain for materials vital to energy and defence, The Canadian Press reported. Minister of Energy and Natural Resources Timothy Hodgson said the alliance will look at countering market manipulation and price volatility in the sector.  

New Brunswick has unveiled a framework to expand its mining sector and guide a new minerals strategy, which is expected by next spring, Canadian Mining Journal reported. Announced at the provincial mining conference, the plan centres on five focus areas: streamlining regulatory and permitting processes, raising public and industry awareness, facilitating meaningful Indigenous participation, improving the investment climate and local economic benefits.  

Frontier Lithium’s Pakeagama (PAK) lithium project, north of Red Lake, Ontario, has been selected as the first project to move forward under Ontario’s “One Project, One Process” framework to accelerate mine permitting that was launched earlier this month. The initiative aims to cut review timelines by up to 50 per cent and support collaboration among government, Indigenous partners and industry.   

Third-quarter results season is upon us. This week’s releases include results from Agnico Eagle, Centerra Gold, Alamos Gold, First Quantum Minerals, Ivanhoe Mines, New Gold, Eldorado Gold and Newmont. 

In August, Cameco and Orano Canada inked a 15-year, $500 million agreement with Indigenous-owned Rise Air to provide workforce transportation to their uranium mines in northern Saskatchewan, I, Ashley Fish-Robertson, reported for the November issue of CIM Magazine. This long-term deal gives Rise Air financial stability to invest in new aircraft, infrastructure and Indigenous workforce development.  

Digital transformation is improving productivity in mining but also increasing cybersecurity risks, especially as information technology and operational technology systems become more interconnected, Lynn Greiner reported for the September/October issue of CIM Magazine. Cyberattacks can disrupt operations, harm workers and cause financial loss. To navigate these risks successfully, companies should align security with business goals and foster a cultural shift, treating cybersecurity as integral to operational safety and resilience rather than a barrier. 

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? On behalf of the CIM Magazine team, we wish you a safe and spooky Halloween!