The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Canada is blessed with great geology, competitive tax rates, a stable political system and a non-discriminatory regulatory regime, which helps to explain why the country ranks among the top destinations for the world's mineral industry, not only to meet but also to do business, Natural Resources Minister Joe Oliver told participants in the 2012 Prospectors and Developers Association of Canada Convention March 5 Canada has more than 200 active mines, producing more than 60 minerals and metals, and the country ranks as the No....
As a busy year in the Alaska and global mining industry starts to slide closer to its end, I figured now was a good time to gaze into my crystal ball (rutilated quartz, of course) to see what next year might bring. While strong metals prices promise another busy year for Alaska, a dose of global reality was provided by the financial giant Ernst & Young, who recently published a list of the top 10 business risks for the mining and metals industry for the coming year. Resource n...
While NovaGold Resources Inc.'s ultimate goal is to become a 1-million-ounce-per-year gold producer, the Vancouver B.C.-based junior is taking a fresh look at the enormous reserves of copper waiting to be mined at its Galore Creek project in British Columbia and its Ambler project in Northwest Alaska. "Management believes the recently completed economic analyses of Galore Creek and Ambler clearly demonstrate that NovaGold's copper assets are considerably undervalued having reg...
As termination dust settles over Alaska, the diversity of mineral exploration, development and production news this month covers the entire spectrum of mining industry activities. The last of the seasonal early-stage exploration projects are reporting in, a major producing company has entered the state for the first time, Alaska finished its first off-shore mineral lease process in more than a decade, several projects reported on resource definition and feasibility studies, a gold deposit was sold, a ballot initiative aimed...
With analysts forecasting improved prices, earnings and cash flows for platinum group and base metals producers in 2011, more juniors are searching for these minerals in northern Canada. Prophecy Platinum Corp. reported results of a NI 43-101-compliant report and mineral resource estimate in mid-July for its Wellgreen platinum group element-nickel-copper property located about 35 kilometers (22 miles) northwest of Burwash Landing in southwestern Yukon Territory. Caribou Copper Resources Ltd. and Alix Resources Corp. July 20 s...
NANA Regional Corp. is on the hunt for mineral deposits that will continue to sustain the economic well being of its 12,500 shareholders beyond the life of the Red Dog Mine. "We know that one day we will be done mining at Red Dog, and it is our hope that we will keep finding deposits around the area," NANA Regional Corp. President and CEO Marie Greene told Mining News during an April 11 interview. Aqqaluk, a zinc-rich deposit that NANA and partner Teck Resources Ltd. began...
A pair of gold discoveries led a torrent of exploration news pouring out of Yukon Territory this year as numerous newcomers joined old hands in the hunt for the yellow metal and other lucrative minerals. "We've entered a new phase of exploration. People are using soil sampling as an unbiased targeting method that is resulting in discoveries of new mineral potential," Yukon geologist Mike Burke, told more than 500 participants in the Yukon Geoscience Forum Nov. 22. The areas where people are looking are expanding as miners...
Diamonds continued to dominate mining production in Northwest Territories in 2010, but other hardrock mineral projects led most of the mineral exploration activity during the year. Yet 2010 is shaping up to be a year of recovery for nearly all of the territory's miners. Rough diamond production from Harry Winston's 40 percent share of the Diavik Mine totaled 650,000 carats in the second quarter, up significantly from 570,000 carats a year earlier. Rio Tinto plc controls 60 percent interest in Diavik, Canada's largest diamond...
Government and industry officials agree that mining exploration and development in recent years have brought substantial positive change to Nunavut, Canada's newest and least explored territory. Ongoing and new exploration, however, are rapidly advancing understanding of this vast Arctic land's mineral potential. "In this industry, it seems that all of the best and worst of times were compressed into less than two years (between 2008 and 2010)," said Peter Taptuna, minister of Economic Development & Transportation for the Gov...
Though most of the gold fever sweeping northern Canada these days is focused on Yukon Territory's White Gold district to the west and near Agnico-Eagle Mines Ltd.'s new Meadowbank Mine to the east in Nunavut, a growing number of explorers are trekking to the territory in between. Mining companies are returning to the Northwest Territories as gold prices set records, including a recent high of US$1,260 per ounce. But most of these explorers are targeting known deposits or previously identified mineralization rather than...
As we contemplate manned space flights to Mars, it may be hard to believe that there are still vast areas of the earth's surface that we have yet to explore. Believe it. The world's knowledge of the geology of Canada's Far North is very limited. To fill this knowledge gap, Canada's federal government embarked in 2008 on an aggressive C$100 million, five-year geological mapping program known as Geo-mapping for Energy and Minerals, or GEM, that at its halfway mark this summer is beginning to yield significant dividends in the...
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...
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...
HNC: TSX President and CEO: Mark Jarvis Executive Vice President: Neil Froc Manager of Geology: Tony Hitchins Hard Creek Nickel Corp., organized 26 years ago in British Columbia, is developing its core asset, the Turnagain Project, a giant disseminated nickel-sulphide deposit in the Liard Mining Division of northern British Columbia, about 70 kilometers, or 43 miles, east of Dease Lake. The claims are contiguous, and cover more than 33,220 hectares, or 80,060 acres. A 2008 NI 43-101-compliant mineral resource estimate for...
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...
In a recent message to company stakeholders, Hard Creek Nickel Corp. President Mark Jarvis, described the credit crunch, worldwide recession and collapse in commodity prices as the "perfect storm." Though this tempest may be particularly hard on juniors exploring base metal properties, Jarvis said Hard Creek Nickel has the wherewithal and funds to prepare its giant Turnagain nickel project in northern British Columbia for smooth sailing when the markets turn around and the...
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...
The game is afoot all across Alaska with the drills turning to the right on projects all across the state. The operating mines turned in strong first-quarter results and several new acquisitions, joint ventures and new players were announced in the last month. Western Alaska Teck Cominco American announced first quarter results from its Red Dog Mine. In the first quarter, the mine produced 138,500 metric tons of zinc in concentrate. Zinc ore grade increased to 21.3 percent while mill recoveries remained steady at 83.8...
International Tower Hill Mines Ltd. May 13 said the results from a recent high resolution airborne magnetic and EM survey completed over 30 square kilometers of mineralized areas of the company's BMP project in central Alaska show huge anomalies that warrant aggressive follow-up exploration. A day earlier the Vancouver, B.C.-based junior announced the start of resource expansion drilling at the Livengood Gold Project 100 kilometers, or 60 miles, north of Fairbanks. The company plans to drill about 42,000 meters, 136,500...
More junior mining companies than ever appear to be seeking their fortunes in precious metals and gems in the wilds of northwestern Canada these days and more seem to be joining the throng every day. Still, few of these modern-day explorers are drawn to the Far North by the allure of high-rank coal and metallurgical minerals such as cobalt and bismuth. But Fortune Minerals of London, Ontario, is one such firm. Founded in 1988, Fortune Minerals went public a year later. In the 18 years since, the company has gotten lucky more...
In case you have not heard, Alaska's mineral industry is cooking! Over the last month two new companies have acquired mineral properties in Alaska and most of the existing projects kicked off their summer programs in earnest. One of Alaska's major mining projects received its final permits to allow mine construction to begin and several others are conducting preliminary and final feasibility studies. Drilling rigs are scarce as hen's teeth and the helicopters to lift them and the people who run them are booked from now until...
On the cusp of what promises to be one of the busiest mineral exploration and development seasons in the last 20 years, the mineral industry is madly preparing its personnel and equipment all across the state. Despite the late season snows and unusually cool temperatures being experienced as this summary is being written, many of Alaska's exploration programs are either under way or will be sometime in early May. Competition for funds within and between companies remains fierce as projects in the U.S., Canada, Europe,...
The Alaska Division of Geological and Geophysical Surveys and the Department of Commerce and Economic Development have released their annual preliminary report on Alaska's mining industry for 2004. As expected, investment in all categories was up significantly over previous years. Exploration spending in 2004 was estimated at $63.7 million, up from $27.6 million in 2003. The 2004 expenditures were the highest in the state since 1981. Development expenditures jumped to $105.6 million vs. $39.2 million in 2003, thanks largely t...
Although the traditional Alaska field season has not really arrived yet, three significant developments occurred in March: Teck Cominco and Sumitomo Metal Mining received final permits for the Pogo gold project from the U.S. Environmental Protection Agency allowing construction to move ahead at flank speed, Anglo American acquired its first U.S. mineral property in years by signing a joint venture option on Nevada Star's MAN nickel-copper-platinum group element project and Nov...
