The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Chinese companies are doing their homework and investing in base metals projects in northern and western Canada to take advantage of rising prices and to secure a future supply of the minerals for their operations back home. First on the scene were private Chinese companies, Jinduicheng Molybdenum Group and Northwest Nonferrous International Investment Co. In the summer of 2008, they purchased a 100 percent interest in Yukon Zinc Corp., which owns the Wolverine Project and other mineral assets in the Finlayson District of...
Former Redfern Resources Ltd. CEO Terrence Chandlar is taking another shot at reopening the Tulsequah Chief Mine on British Columbia's western border, about 45 miles, or 70 kilometers, east of Juneau. Under Chandlar's leadership, Redfern Resources had gained the regulatory approval needed from Canadian agencies to reopen the copper-gold-silver-zinc-lead mine and was working with Alaska officials to obtain permits required to transport metals concentrates through Alaska on the... Full story
The annual Fraser Institute "Report on Mining Companies, 2009-2010" was recently released to a thundering silence. Several oddball items may help explain the lackluster response, but Alaska fared well in the survey of 333 companies working in 72 jurisdictions worldwide. Alaska ranked 18th out of 72 under the policy potential index, which measures the regulatory attractiveness of a jurisdiction. Not unreasonably, Alaska was beaten by some mining heavyweights like Chile, Quebec,... Full story
IQALUIT, Nunavut - Canadian mining companies can expect to see continued upward movement in prices generally for precious and base metals and coal, along with increasing volatility during the next 18 months to 2 years, a top economist told a gathering here April 13. Patricia Mohr, vice president, economics and commodity market specialist for The Scotiabank Bank Group offered delegates attending the 13th annual Nunavut Mining Symposium her expert view of current global economic conditions and how they will likely impact... Full story
IQALUIT, Nunavut - Now that Agnico-Eagle Mines Ltd. is producing three or four 8-kilogram bars of gold every week at the newly opened Meadowbank Mine in the central region, government, business and mining industry officials here are beginning to look ahead toward the territory's next big challenge. "Meadowbank's startup is a small step for us in Nunavut," said Paul Kaludjak, president of Nunavut Tunngavik Inc., the Inuit organization that co-administers the Nunavut Land Claims Agreement with the Government of Canada. "We... Full story
I recently attended the Prospectors and Developers Association of Canada convention in Toronto where a buoyant, project-hungry crowd of 22,000 created enough of its own hot air to start the Greenland Icecap melting. In a clear case of anthropogenic global warming, representatives of companies, governments and agencies rolled out their projects in efforts to see and be seen. Alaska was well represented at the conference and should see some new investment interest coming from... Full story
A conviction-filled speech delivered by Pebble Limited Partnership CEO John Shively at the March 18 Resource Development Council of Alaska breakfast tackled the question on the minds of many in the audience: "What in the hell is going on in this country?" Though Alaska has not been hit as hard as the rest of the nation, the longtime Alaskan points to increased unemployment and dropping home sales as indications of the state's weakening economy. He said rural Alaska is being...
No discussion of opening Canada's Far North to mineral resource development could get far without the focus turning to Nunavut, the nation's newest and least-explored territory. At one-fifth the size of Canada, Nunavut contains 1,994,000 million square kilometers, or 770,000 square miles, (nearly three times the size of Texas). Much of the territory is underlain by Archean-aged rocks similar to those found in the most productive geology in Ontario, Quebec, South Africa, Australia, and Brazil. But much of this geology is...
As we plunge headlong into a new year and a new decade, the broad economic indicators for the mining industry suggest continued strong prices for most commodities in 2010 followed by slightly lower average prices in 2011 and beyond as supplies catch up to demand. Not surprisingly, the source of much of the commodities demand will be Asia with China and India being the two leading economic engines driving commodity prices. Where Alaska's mining industry fits into this global... Full story
Among juniors actively working to attract majors to invest in mineral exploration projects scattered across Canada's Far North, one Vancouver, B.C.-based company leaped to the front of the pack recently in Nunavut Territory. Commander Resources Inc. is exploring the Baffin Island Gold Project, a district-scale project with multimillion-ounce potential covering an entire greenstone belt about 175 kilometers, or 105 miles, in length east to west. Baffin is one of at least four giant gold deposits currently being explored in...
Zazu Metals Corp. has signed an agreement with the state-owned Alaska Industrial Development and Export Agency to complete due diligence for transportation infrastructure needed to support a mine at its Lik zinc-lead-silver project located about 22 kilometers, or 14 miles, northeast of Red Dog Mine in Northwest Alaska. Hammering out transportation infrastructure is a key component for a prefeasibility study that Zazu plans to have completed later in 2010. "Lik is a known lead-... Full story
Selwyn Resources Ltd., owner of the zinc and lead deposit of the same name in the mountains of eastern Yukon Territory, has entered a binding framework agreement with a large Chinese corporate investor that is ready to pump C$100 million into developing the world-class property. Selwyn, in a statement Dec. 14, said it will partner with Yunnan Chihong Zinc & Germanium Co. Ltd., an integrated lead and zinc producer with 60-plus years experience in exploration, mining, smelting and downstream processing. Chihong, which is...
Recession, what recession? That could have been the cry of some gold exploration companies in Yukon Territory in 2009. Thanks to several very impressive gold discoveries in 2008 at a time of unprecedented highs in gold prices, momentum lost in other sectors of Canadian mineral exploration seemed to hardly touch the gold-rich hills of this mining-friendly jurisdiction. Some 63 companies started 2009 with planned exploration programs in Yukon, but before all was said and done, a horde of additional gold seekers poured into the... Full story
CZN: TSX; CZICF: OTC Chairman and President: John F. Kearney Vice President Exploration: Alan Taylor Canadian Zinc Corp. is an exploration and development company focused primarily on rapidly bringing the Prairie Creek zinc, lead and silver project located in the Mackenzie Mountains of Northwest Territories into possible production. An NI 43-101-compliant report in 2007 estimated the Prairie Creek property hosting total measured and indicated resources exceeding 5.8 million metric tons grading 10.71 percent zinc, 9.90... Full story
CMD: TSX-V President and CEO: Kenneth Leigh Chairman: David Watkins Vice President, Exploration: Bernard H. Kahlert Commander Resources Ltd., incorporated in 1987 in British Columbia, is a diversified junior exploration company employing project generation and leverage strategies aimed at exploration and discovery in Canada where potential is high and political risk is low. Commander's strategy is reflected in its extensive property portfolio, including two Nunavut properties, Baffin Island Gold, a large district-scale iron... Full story
Most of the mining companies looking for minerals in northern British Columbia ushered in 2009 with high hopes and little else. "It's a perfect storm. The credit crunch in the world financial system has led to a worldwide recession and a collapse in commodity prices. In equities, there is nowhere to hide. Financing has become expensive and difficult to get. I have never seen more difficult conditions for junior resource companies in my entire career," said Hard Creek Nickel Corp. President and CEO Mark Jarvis in describing...
Hampered by a recession-driven drought in capital markets, mineral explorers in the Northwest Territories met the challenges of 2009 with a variety of survival strategies. With significant diamond, precious and base metal projects and prospects at stake, some companies entered a holding pattern in hopes of waiting out the economic storm, while other forged ahead, adjusting to the new cash-strapped environment as the year progressed. Thanks to record commodity prices, the economy of the Northwest Territories has outpaced the...
PGD: TSX Chairman and CEO: Eric Friedland President: Brooke Clements Vice President, Exploration VP: Peter Holmes Since 2002 Peregrine has focused on diamond exploration in northern Canada, acquiring varying interests in Northwest Territories, Nunavut and Manitoba properties. The junior has reported discoveries of diamond-bearing kimberlites on its 9,800-square-kilometer Chidliak Project located about 120 kilometers, or 77 miles, northeast of Iqaluit on Baffin Island, Nunavut, including 13 kimberlites in 2009, and three...
SBB.V: TSX-V President and CEO: Anthony P. Walsh Lead Director: Roy E. Wilkes Exploration Manager: John F. Whitton Sabina Silver, an explorer in Canada since 2001, is a Canadian precious metals exploration Company with a portfolio of several different properties in Canada at different stages of development. The company's flagship projects are currently located in Nunavut. These Nunavut assets, which are geographically proximal to each other, consist of the Hackett River silver-zinc project, one of the world's largest undevelo...
TAM: TSX-V President and CEO: Ross F. Burns Chairman: Margaret M. Kent Vice President and Sr. Project Manager (Pine Point Project): David D. Swisher Formed in 2000, Tamerlane Ventures Inc. is focused on putting the most profitable zinc-lead property in Canadian history back into production and developing a dump leach copper project in Peru. The junior plans to become a producer of lead-zinc concentrates from its Pine Point Project in Northwest Territories, which hosts an NI 43-101-compliant estimate of 10.9 million metric...
The Canadian government recently approved a massive expansion of the Nahanni National Park Reserve of Canada, a move being hailed as a win for both conservation and economic development. "Nahanni is one of the Crown jewels of our incredible system of national parks and it is with pride that I take part in the greatest conservation achievement in a generation," said the Honorable Jim Prentice, Canada's Environment Minister and minister responsible for Parks Canada. "Enshrining this magnificent area in legislation, under the... Full story
TORONTO - For a first-timer, attending the 77th Prospectors and Developers Association of Canada annual International Convention, Trade Show and Investors Exchange overwhelmed, teased, tantalized and downright exhausted. Though folks remarked that convention attendance seemed down from the record-breaking levels of recent years, one couldn't discern any slackening in the steady streams of dark-suited conventioneers pouring onto the escalators in the multistoried convention hall, or crowding into meeting rooms at neighboring... Full story
Yukon Territory has one producing mine, the Minto copper-gold-silver operation near the Yukon River north of Whitehorse. During 2008, more than 150 active hardrock exploration projects in the territory, 73 of which recording spending greater than C$100,000, and 22 posted outlays greater $1 million. Here's a look at some of the mining companies active in Yukon Territory. Producing mines Sherwood Copper Corp., now a part of Capstone Mining Corp., took the Minto Mine, Yukon Territory's only producing hard rock mine, to new...
The Northwest Territories has four operating mines: three diamond producers and one long-running tungsten operation. Exploration and development activity was brisk in 2008 with the most advanced projects located in the Slave Province. Here's a look at mining companies active during 2008 in the Northwest Territories: Producing mines BHP Billiton Diamonds Inc. (80 percent) and partners C. Fipke (10 percent) and S. Blusson (10 percent) produced about 3.5 million carats of rough diamonds at the Ekati diamond mine in 2008, making... Full story
Producing mines Early in 2008, Tahera Diamond Corp., owner and operator of Jericho Diamond Mine - Canada's third, and Nunavut's first diamond mine - filed bankruptcy and sought creditor protection. Tahera opened the Jericho in 2006 and recovered and processed 155,000 metric tons (average grade of 0.79 carats per metric ton) during the fourth quarter of 2007, resulting in production of 122,500 carats valued at US$11.6 million, compared with US$8.4 million in the third quarter of 2007. However, financial losses were reported... Full story
