The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 24 of 24
Yukon takes over, hires JDS Mining to maintain site; mine closure may sink Minto Metals and Pembridge. Inundated by the forces of nature and finance, Minto Metals Corp. is shuttering operations at its Minto copper mine in Canada's Yukon. "Needless to say, ceasing operations at the Minto mine was an extremely difficult and disappointing decision, that was not taken lightly," said Minto Metals President and CEO Chris Stewart. Unable to continue to meet its financial obligations...
After being spun out from parent purchaser Pembridge Resources plc, Minto Metals Corp. kicked off the year with its strongest quarter yet with production results from its Minto copper mine in central Yukon. Bought from Capstone Mining Corp. in early 2018, Pembridge managed to complete its first full year of operations in 2020, despite the ongoing challenges of the COVID-19 pandemic. Toward the end of that year, the company completed the formation of Minto Metals Corp., a TSX...
Minto Metals Corp. April 28 reported that the results from its ongoing 2022 exploration drilling at Minto are showing strong potential for expanding the resource and life of this copper mine in the Yukon. The Minto mine has been in operation since 2007, with underground mining commencing in 2014. Over the past nearly 15 years, approximately 500 million pounds of copper have been produced from this operation. The previous owners, Capstone Mining Corp., put Minto into care and m...
After being spun out from parent purchaser Pembridge Resources plc, Minto Metals Corp. April 6 announced the company's first-quarter production results from its Minto copper mine in central Yukon. Bought from Capstone Mining Corp. early in 2018, Pembridge managed to complete its first full year of operations in 2020, despite the ongoing challenges of the COVID-19 pandemic. Toward the end of that year, the company completed the formation of Minto Metals Corp., a TSX Venture...
Mining exploration and production activity soared in Yukon Territory in 2021 thanks to high metals prices, pro-industry government policies, and mounting successes in the field. Bouncing back from some of the most challenging working conditions in modern history due to the COVID-19 pandemic, placer and hardrock miners stepped up the pace of their activities, posting record production numbers and promising exploration results. With the rollout of COVID vaccines and the prospect...
Pembridge Resources plc May 24 announced it has budgeted C$3.2 million for Minto Exploration Ltd. to investigate high-priority exploration targets at the United Kingdom-based company's Minto copper project in Canada's Yukon. "This new exploration drilling program continues Minto's aim of exploring the Minto copper belt and realizing its potential," said Pembridge Resources Chairman and CEO Gati Al-Jebouri. A preliminary economic assessment recently completed for Pembridge...
Pembridge Resources plc May 12 reported that the life of its Minto copper mine in the Yukon has been extended out to 2028, five years beyond the 2023 life of mine previously reported by the London Stock Exchange-listed company. Based on a preliminary economic assessment prepared for Pembridge, Minto is expected to produce 277 million pounds of copper, 129,000 ounces of gold, and 930,000 oz of silver over the eight years considered in the scoping level study. The mine is...
Alaska, Northern British Columbia, and the Yukon are home to a dozen advanced stage exploration and mine projects hosting billions of pounds of copper ready to deliver to a world demanding massive amounts of this conductive metal for the green energy and electric mobility transition envisioned over the next three decades. In its report, "Copper is the new oil," Goldman Sachs forecasts that the electrification of transportation and decarbonization of electrical generation...
When Granite Creek Copper Ltd. decided to refocus its energies on finding copper in Yukon Territory in October 2018, it swung into action, aggressively tackling its vision of becoming a leading copper exploration company. Just over two years later, the junior has acquired the advanced Carmacks Copper Project and is hoping to establish a mineral resource estimate on its larger Stu Project next door. To begin its transition, the junior changed its name from Granite Creek Gold...
Pembridge Resources plc Jan. 28 announced that trucks are now delivering copper concentrates from its Minto Mine in the Yukon to the Skagway Ore Terminal in Southeast Alaska. Access to the Minto mine requires crossing the Yukon river at Minto Landing, which is between the communities of Carmacks and Pelly Crossing. During summer months, a barge is used to transport concentrates and supplies across the Yukon. During the winter, an ice bridge provides access over the river....
Pembridge Resources plc Jan. 22 announced the launch of a 14,000-meter drill program aimed at expanding four deposits at its Minto copper mine in the Yukon. United Kingdom-based Pembridge finalized a deal in June to acquire Minto from Capstone Mining Corp. and resumed operations at the mine in October. At the time of the acquisition, Minto hosted 15 million metric tons of measured and indicated resources averaging 1.4 percent copper, 0.5 grams per metric ton gold and 4.8 g/t...
Pembridge Resources plc Dec. 4 announced that its revenue from the restart of operations at the Minto copper mine in the Yukon now exceeds US$7 million. United Kingdom-based Pembridge, which finalized a deal in June to acquire Minto from Capstone Mining Corp., resumed operations at the mine in October. To ensure steady revenue from Minto, the new mine owner entered into an offtake agreement with Sumitomo Corp. for the copper concentrates produced there. Under this agreement,...
Pembridge Resources plc Nov. 6 reported the first revenue from Minto since the restart of operations at its recently acquired copper mine in the Yukon. Since finalizing a deal in June to acquire Minto from Capstone Mining Corp., the United Kingdom-based company has been working toward the restart of operations at this copper mine. During 10 months of production in 2018, the Minto Mine produced 23 million lb of copper, 9,251 ounces of gold and 98,000 oz of silver from 907,000...
Yukon Territory, a mineral exploration frontrunner in Canada's North, is witnessing a significant slowdown in 2019. As a result, growth in Yukon's economy is expected to slow this year but rebound in 2020, according to The Conference Board of Canada. In its "Territorial Outlook Economic Forecast: Summer 2019," released in June, the board said new mines coming online in 2020 will drive Yukon's growth in the near future. Several factors, however, have converged to put the...
Pembridge Resources PLC July 22 announced that it has cut a deal with Sumitomo Corp. for copper concentrates from its newly acquired Minto Mine in the Yukon. Under this offtake agreement, Pembridge is to receive an advanced payment for at least 55,000 metric tons of copper concentrate produced by the Minto mine between now and the end of 2020. Sumitomo will make this advanced payment in monthly installments based on 90 percent of the estimated value of concentrate produced...
Thanks to the start-up of new mines, The Conference Board of Canada forecasts the economies of Canada's territories to grow significantly over the next two years. In Territorial Outlook Economic Forecast: Summer 2019, The Conference Board of Canada foresees the combined economies of Nunavut, Northwest Territories and Yukon expanding by 5.3 percent in 2019 and 4.4 percent in 2020. "Territorial economies are being positively impacted by new mines that are propelling growth in...
In a deal that is good for the buyer, seller and the Yukon, Capstone Mining Corp. has agreed to sell the Minto copper mine to United Kingdom-based Pembridge Resources PLC. "The sale of the Minto mine is very good news all around. Capstone will no longer incur the expense of having the mine on care and maintenance, and the recommencement of operations will be positive for Minto employees, contractors and the local economy," said Capstone Mining President and CEO Darren Pylot....
Capstone Mining Corp. Oct. 11 announced that it will be shutting down the Minto Mine due to Pembridge Resources' inability to raise the requisite funds to acquire the copper operation in the Yukon. In February, Capstone announced plans to sell Minto to Great Britain-based Pembridge Resources for US$37.5 million in cash, plus working capital adjustments, and common shares representing 9.9 percent of the issued and outstanding shares of Pembridge. Due to unfavorable equity...
Pembridge Resources plc June 11 announced that it has signed a terms agreement with a leading global Japanese trading house that will provide the England-based company US$30 million in exchange for an offtake agreement for 125,000 metric tons of copper concentrate to be produced at the Minto Mine in the Yukon. In February, Pembridge cut a deal with Capstone Mining Corp. to acquire Minto for US$37.5 million in cash, plus working capital adjustments, and common shares...
Mining is expected to fuel strong economic growth in Nunavut and Yukon in the coming years, according to The Conference Board of Canada's latest Territorial Outlook. "With many new mining projects on the horizon in Nunavut and Yukon, growth is expected to take off over the next five years," said Marie-Christine Bernard, director, provincial and territorial forecasting, The Conference Board of Canada. The conference board's outlook for Northwest Territories, however, is not...
Born from an idea to create a vehicle that could provide Alaska businesses lower interest rates offered by tax-exempt financing, the Alaska Industrial Development and Export Authority, or AIDEA, has been doing its part to create jobs and bolster Alaska's economy for five decades. "Fifty years ago, the Alaska State Legislature created the Alaska Industrial Development and Export Authority, to develop, encourage, and improve the economic potential and welfare of the people of...
Capstone Mining Corp. Feb. 14 announced that it is selling its Minto copper mine in the Yukon to Great Britain-based Pembridge Resources plc. Under the terms of the definitive share purchase agreement, Capstone will receive US$37.5 million in cash, plus working capital adjustments, and common shares representing 9.9 percent of the issued and outstanding shares of Pembridge upon completion of the transaction. "The divestiture of Minto will allow us to focus our resources on...
Though mineral exploration in Yukon Territory this year lagged the pace seen in 2018, mine development projects advanced at a steady clip in 2019, while several past-producing mines moved toward resuming output. Yukon ranked fourth in Canada for projected spending on mineral exploration and deposit evaluation for 2018, according to statistics distributed by Natural Resources Canada. Spending for mineral exploration and deposit evaluations totaled C$249.4 million, made up of C$...
More than three dozen explorers chased lucrative mineral deposits in Yukon Territory in 2017 and most of these junior and senior companies returned to the northern jurisdiction this year to take another crack at hitting the jackpot. Known for its rich and storied gold mining history as well as its rugged mountain peaks, Yukon is roughly 15 percent larger than California, covering more than 482,000 square kilometers (186,272 square miles). Split off from the Northwest...
