The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 8 of 8
Ucore Rare Metals Inc. Jan 15 said two U. S.-based investors have exercised their right to convert their investments in a royalty related to the processing of rare earth elements and other specialty metals into common shares of the company. The royalty would have been paid on sales and income associated with the Ucore's first installation utilizing molecular recognition technology. The US$5.3 million the investors paid for the royalties will be converted at a rate of C25 cents per Ucore share, resulting in a total of...
Usibelli Coal Mine Inc. Jan. 15 commended its 115 employees for reaching the important milestone of no lost-time injuries during 2015. "The employees of UCM have dedicated themselves to safety awareness and communication. Every employee practices it every day, resulting in achieving a year and a half without any lost-time accidents. It's a true team effort and a milestone we're all proud of," UCM President Joe Usibelli Jr. said. This milestone sits in the midst of a run of mor...
Capstone Mining Corp. Jan. 18 said it plans to temporarily halt operations at its Minto copper mine in Yukon Territory in 2017. The planned closure is part of an overall cost-cutting initiative by the company. "In light of the current commodity price environment our 2016 guidance and five-year outlook focuses on financial flexibility, while maximizing the cost efficiency of our existing operations," explained Capstone President and CEO Darren Pylot. For 2016, the Minto Mine... Full story
TMAC Resources Inc. Jan. 14 plans to invest C$325 million on a tactical plan budget that aims to have its Hope Bay gold project in Nunavut ready to ramp to an operation that averages 1,000 metric tons per day in 2017. This new plan, which involves a C$35 million increase over a previous "path to production" budget, includes the accumulation of an ore stockpile sufficient to support ramp up to 2,000 metric tons per day by 2018. The tactical mine development plan, which runs...
Skeena Resources Ltd. Jan. 14 released an updated resource estimate for the Donnelly and North Donnelly copper-gold deposits at its recently acquired GJ property in the Golden Triangle of northwestern British Columbia. The Donnelly and North Donnelly deposits now host 133.67 million metric tons of measured and indicated resource, using a 0.2 percent copper cut-off, grading 0.32 percent (940.23 million pounds) copper and 0.36 grams per metric ton (1.56 million ounces) gold. In...
I do love metaphors and aphorisms; there's one for every occasion. For instance, it is often noted that, on the one hand, it is always darkest before the dawn and, on the other, that the light at the end of the tunnel is another train. It would be folly to believe that in today's environment, things will be better, economically, in Alaska, any time soon; however, experience teaches that the current disaster will, like all others, one day pass. Here's the scenario: Alaska is a...
The Red Dog Mine in Northwest Alaska is highly regarded as an example of a mining company and local aboriginal interests sitting down at the negotiating table and working out a deal that serves the economic and social interests of both. A steep tax hike, however, threatens to shorten the life of the world-class zinc mine and thereby the partnership forged between Teck Resources Ltd. and NANA Regional Corp. The tax increase was introduced recently by the Northwest Arctic...
After 17 months of investigation, the U.S. Environmental Protection Agency Office of Inspector General said it could find no evidence that the federal agency was unfair while conducting an assessment of the Bristol Bay Watershed. The conclusion, however, runs counter to those of others who have reviewed the case. The EPA's Bristol Bay Watershed Assessment is a study of the potential risks large-scale mining might pose to the abundant fish resources in the Bristol Bay region... Full story
