The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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A growing number of Lower 48 lawmakers are weighing in on the potential risks and rewards of building a mine at the enormous Pebble copper-gold-molybdenum deposit in Southwest Alaska, shifting the frontline of the escalating battle to Washington D.C. With the U.S. Environmental Protection Agency seemingly positioning itself to exercise unprecedented powers to halt the Pebble project without giving developers the opportunity to have their plans vetted under the current permitti...
Further proof that the mining industry is undergoing fundamental changes can be found in "Mine: A Confidence Crisis," the 10th edition of PricewaterhouseCoopers's annual report on the global mining industry. This recently released report indicates that in 2012 the top 40 global mining companies saw net profits plummet 49 percent to US$68 billion. To make matters worse, after a 25 percent decline in average mining stock value in 2011 and a slower but still downward trend in 201...
Here's an open letter to Sen. Mark Begich, D-Alaska: Dear Sen. Begich, Last week, I had the privilege to sit in on a constituent teleconference with you concerning a number of issues confronting Alaska. During the course of your comments, and in response to a question concerning the Pebble Project, you indicated that you were reserving judgment until EPA's pending Bristol Bay Assessment was complete. Implicitly, you suggested that the assessment was entitled to great weight,...
Among the dozen or so companies that are advancing mineral-rich deposits in Nunavut this year, none has more going on inside and outside of the territory this summer than Glencore Xstrata plc. Xstrata plc, owner of the Hackett River silver-zinc project located in western Nunavut, merged with Glencore International plc in late May to become one of the world's largest mining and trading companies. The US$30 billion deal created a mega-entity that employs nearly 200,000 people in 50 countries around the globe to generate full...
Regardless of having its stock price battered to the point of triggering a delisting review by the Toronto Stock Exchange, Pure Nickel Inc. has mustered resources sufficient to carry out multimillion-dollar mineral exploration programs at both of its Alaska properties in 2013. Due to the low share price of the stock, Pure Nickel's market capital fell below the C$3-million-threshold for mining companies listed on the TSX, which triggered the delisting review. Pure Nickel has...
You say the world's frontiers have all been conquered, and Nature's riddles have all been solved? Don't tell that to Darnley Bay Resources Ltd. The Toronto-based junior is celebrating two decades this summer of working to unravel one of Earth's most intriguing mineral mysteries. The puzzle lies deep beneath the earth's surface in Canada's Far North in what potentially may be the strongest isolated gravity anomaly in the world and certainly, in North America. Located near Paulatuk, Northwest Territories on the Arctic coast,...
The Government of Yukon is seeking feedback until July 31 on proposed amendments to the Canadian territory's "Quartz Mining Act, Placer Mining Act" and appropriate regulations. The proposed changes reflect Yukon officials' response to a court ruling in December and are intended to support positive relationships among First Nations and the exploration and mining industries. Amendments to the legislation must be in force by Dec. 27, 2013 to meet the one-year timeline imposed by the Court of Appeal for Yukon for implementing...
A US$22 million option and joint venture agreement forged with Dowa Metals & Mining Co., Ltd. earlier this year is providing Constantine Metal Resources Ltd. with the ability to resume the expansion of a high-grade volcanogenic massive sulfide deposit at its Palmer project in Southeast Alaska. In addition to a cash infusion during tight financial markets, Dowa brings 130 years of experience in the mining and smelting of VMS ores to its newly forged partnership at Palmer....
