Newfoundland and Labrador’s economy will benefit from billions in mining investment in the near term as more than $140 billion in new mining investment is expected across Canada over the next five years. This growth is largely attributed to a number of promising projects located in the province, according to the Mining Association of...
Measured and indicated resources at its KSM (Kerr, Sulphurets, Mitchell) property in northern British Columbia now total 49.9 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pound of molybdenum, Seabridge Gold Inc. said this morning. Seabridge said that a successful 2011 drill campaign at its...
Thompson Creek Metals Co. Inc. has entered into an amended agreement with Royal Gold Inc. to sell an additional 15% of the payable gold from Thompson Creek’s Mt. Milligan copper/gold project to Royal Gold for a total of $270 million, $112 million of which will be paid shortly after signing, the Denver-based firm said...
Quadra FNX Mining Ltd. has cut a deal with Xstrata Nickel to use Xstrata’s Craig mine shaft and related underground infrastructure to further develop and operate Quadra FNX’ Levack mine, including the Morrison deposit, in Sudbury Basin’s North Range in Ontario, it reported today. Quadra FNX said it expects that the use of Xstrata...
Teck Resources Ltd. said this morning that its would be investing C$210 million at its Trail metallurgical operations to significantly increase its capacity to recycle end-of-life electronic waste (e-waste) and another C$475 million in a mill modernization project at Highland Valley Copper. Both operations are in British Columbia. “These projects will improve the long-term...
Though British Columbia is a hotbed of mining and exploration activity, Copper Mountain is the first base metal mine to commence operations in province since 1998. Some 1,700 folks turned out for the official opening ceremony Aug. 18, Copper Mountain Mining Corp. said this morning. They were treated to a full day of mine...
In its second-quarter earnings report released late yesterday, Thompson Creek Metals Co. Inc. said a variety of factors were causing a delay in construction of the mill expansion at its Endako molybdenum mine near Fraser Lake, 100 miles northwest of Prince George, B.C. The mine is operated as a joint venture with Thompson Creek holding...
Seabridge Gold Inc. said today a new preliminary feasibility study on its huge KSM (Kerr-Sulphurets-Mitchell) project in northern British Columbia will cost $4.7 billion, but will be able to produce gold for as little as $105 per ounce during its first seven years of life. Mineral reserves have increased dramatically as well: gold is...
HudBay Minerals Inc. said this morning it expects to close its copper smelter in Flin Flon, Manitoba before July 1, 2010, and its copper refinery in White Pine, Michigan shortly thereafter. The financial impact of the smelter closure on the company will be minimal, it added, as the processing costs from the sale of...
Two diamonds from the De Beers Canada Victor mine — Ontario’s first diamond mine — have been installed in the Legislative Mace presented to parliament yesterday in a special ceremony in the Ontario Legislature. One diamond was cut and polished, while the other remained in its natural rough form. The Mace was scheduled to...
