The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 26 - 38 of 38
As Nunavut regulators wrapped up a contentious final series of hearings in April on a proposed expansion of the Mary River iron ore mine on Baffin Island, the Canadian territory got hit with a new outbreak of COVID-19, this time in Iqaluit, Nunavut's capital. Baffinland Iron Mines Ltd. has operated Mary River, one of the largest and northernmost iron mines in the world, for six years. The company employs more than 1,200 people, primarily at its Mary River Mine Site and Milne...
Nunavut is one jurisdiction in Canada with a favorable economic outlook in the face of the COVID-19 pandemic, according to a recent economic analysis completed by the Conference Board of Canada. The reason: Nunavut's mining sector, which remained mostly intact in 2020, accounted for more than one-third of its economy, a higher share than in every other Canadian province or territory. Projected to have expanded 6.1% last year, Nunavut's economy is forecast to grow 13.2% in...
In what could be the best outcome of Ottawa blocking Shandong Gold Mining's bid to acquire TMAC Resources Inc., Agnico Eagle Mines Ltd. has agreed to buy out its fellow Nunavut gold miner for C$286.6 million. TMAC Resources, which got off to a rocky start of operations at its Hope Bay gold mine in Nunavut, has been looking for a company with the financial wherewithal and mining expertise to make the northern Canada operation a success. Under an agreement reached in May,...
In a move that prevents a Chinese state-owned company from grabbing a foothold along the Northwest Passage in Canada's Arctic, officials in Ottawa have blocked Shandong Gold Mining Co. Ltd.'s bid to acquire TMAC Resources Inc., which owns and operates the Hope Bay gold mine in the Kitikmeot region of northwestern Nunavut. While stopping Shandong Gold Mining from acquiring the Nunavut operation quashed what many Canadians considered to be a threat to national security, it also...
The Hope Bay gold mine will come under Chinese ownership with the finalization of a deal that would see Shandong Gold Mining Co. Ltd. buy full ownership of TMAC Resources Inc., the current owner and operator of the gold operation in the Kitikmeot region of northwest Nunavut. Under a definitive agreement announced on May 8, Shandong Gold Mining (HongKong) Co., an overseas subsidiary of the state-owned Chinese gold mining company, will pay roughly US$149 million (C$208 million)...
Sabina Gold & Silver Corp. has deferred it planned drill program at the Back River gold project in Nunavut and has established work-from-home protocols for employees at its corporate office in Vancouver, British Columbia. "No positive COVID-19 cases have been reported from amongst the company's employee base. However, out of concern for the wellbeing of our employees, contractors, their families, and their communities, the company has elected to implement a work from home...
For the second time in 2019, Agnico Eagle Mines Ltd. announced reaching commercial production at a new Nunavut gold mine – this time at Amaruq, a satellite deposit about 50 kilometers (31 miles) northwest of the Meadowbank mine and mill in the territory's Kivalliq District. Meadowbank was Agnico Eagle's first mine in Nunavut and has served as the foundation for the company's growing presence in the territory. Since 2010, this mine has produced nearly 3.5 million ounces of gold...
Agnico Eagle Mines Ltd. July 24 reported that the ramp up of production at two new gold mines in Nunavut – Meliadine and Amaruq – is setting the Toronto-based miner up for a strong second half of 2019 and beyond. "With Meliadine ramping up to full production over the balance of the year and Amaruq on schedule to achieve commercial production in the third quarter of 2019, the company is well positioned for a strong second half from both a financial and operational per...
With the Meliadine project near Rankin Inlet, Nunavut hitting its target for commercial production in mid-May, senior gold miner Agnico Eagle Mines Ltd. is already reaping the rewards of output from its newest and largest mine, in terms of mineral reserves, even as gold prices sprint upward. The target, accomplished ahead of schedule and anticipated to cost less than projected capital expenses of US$900 million, marks the second time the Toronto-based senior has ushered into...
Auryn Resources Inc. is gearing up test intriguing drill targets that artificial intelligence has generated on the Committee Bay gold project in Nunavut. "We are looking forward to turning the drills again at Committee Bay and to offer our shareholders the possibility of a major high-grade gold discovery using cutting-edge artificial intelligence applications," said Auryn Resources Executive Chairman Ivan Bebek. At roughly 390,000 hectares (964,000 acres) Committee Bay is a...
In a move many considered the stuff of science fiction or fantasy just 20 years ago, junior miner Auryn Resources Inc. has used artificial intelligence to help identify gold deposits at the Committee Bay Gold Project in Nunavut. Vancouver, B. C.-based Auryn gained control of the remote arctic exploration project in 2015 through its acquisition of North Country Gold Corp. At the time, Committee Bay was known to host significant gold mineralization, including its Three Bluffs...
When Agnico Eagle Mines Ltd. established a foothold in Nunavut roughly a decade ago, the gold mining company saw the northern Canadian Territory as a politically attractive and stable jurisdiction with enormous geological potential. Today, this vision is being realized. "We see tremendous potential there and this is an inflection point and a turning point in the future of Agnico as we are opening up a brand-new area where we see tremendous exploration potential, combined with...
With the startup of two new gold mining operations scheduled for the first half of this year and recent regulatory approvals for development of at least three other gold deposits in the territory, there's little question that Nunavut is coming into its own as a gold mining center in Canada. Nearly one and one-half times the size of Alaska, the northern jurisdiction has seen little gold production since it was separated from Northwestern Territories 20 years ago. But as...
