The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 7 of 7
Teck Resources Ltd. June 29 released its 2014 Sustainability Report. The 25th anniversary of Teck's Red Dog mine, which operates under an innovative operating agreement with the Iñupiat people of Northwest Alaska, is among the highlights featured in the report. Situated roughly 100 miles north of the Arctic Circle, Red Dog is among the largest zinc mines in the world. In 1982, Cominco (now Teck) and Iñupiat-owned NANA Regional Corp. signed a landmark agreement that directs h...
Auryn Resources Inc. and North Country Gold Corp. June 30 reported that they have entered into a letter agreement for Auryn to acquire North Country. The consideration for all of the North Country shares not already owned by Auryn will be the issuance of about 13.8 million Auryn shares valued at roughly C$20.4 million, based on C$1.48 per Auryn share. Under the proposed arrangement, North Country shareholders will receive one Auryn share for each 10 North Country common...
British Columbia Ministry of Energy and Mines June 29 reported the issuance of a Mines Act permit to JDS Silver for the Silvertip Mine located in northern B.C. about 16 kilometers (10 miles) south of the Yukon Territory border. With the permit, JDS can begin construction, which is expected to take 15 to 18 months to complete. JDS anticipates that - including the construction phase - the mine could operate for up to 21 years and create 150 to 200 new jobs, once full production begins. Capital costs to develop an underground...
Imperial Metals Corp. June 26 provided an update on terms of previously announced financings totaling roughly C$80 million as well as the Red Chris commissioning progress. The company previously reported its intention to raise about C$80 million in gross proceeds from a combination of rights to purchase common shares of the company and the issuance of convertible debentures. Oil sands financier and major Imperial shareholder N. Murray Edwards, Fairholme Capital Management LLC and Fairholme Partnership intend to purchase...
Skeena Resources Ltd. June 29 said it has received a three-year drilling permit and is mobilizing two rigs to undertake a 10,000- to 12,000-meter drill program at the Spectrum gold project in northwestern British Columbia. Fieldwork at Spectrum began on June 15 and includes re-sampling of historic core, soil sampling, prospecting and mapping. Camp and drill pad construction is underway, and drilling is expected to begin on or about July 2. The 50- to 60-hole drill program has...
Alaska has joined 11 other states in challenging the "waters of the United States" rule recently adopted by the U.S. Environmental Protection Agency and the U.S. Army Corps of Engineers in one of a growing number of lawsuits seeking to overturn the onerous regulation. The 299-page Clean Water Rule unveiled by the Obama Administration in May attempts to define which waters are covered by the Clean Water Act, resulting in the need for a federal permit. However, instead of clarif...
Permitting delays are becoming the bane of companies endeavoring to develop mines in the United States, a country that is otherwise considered a stable and richly endowed mining jurisdiction. SNL Metals & Mining has published a report that shows a notoriously lengthy process is resulting in U. S. mines losing up to half their value before receiving final approvals for development. "The longer the wait, the more the value of the investment is reduced, even to the extent that...
