Shell pulls plug on long-delayed Alberta oil sands mine – The Globe and Mail
Royal Dutch Shell Plc is shelving plans to build a new oil sands mine in northern Alberta, the largest such project to be deferred as producers struggle with low energy prices.
Anti-oil sands activists in the U.S. are getting visits from the FBI
Unexpected visitors have been dropping in on anti-oil activists in the United States — knocking on doors, calling, texting, contacting family members.
At least four dead as landslide hits Myanmar jade mining region
At least four people have been killed in a landslide at a jade mine in Myanmar’s north, authorities said Friday.
Robert Friedland’s mining showdown in South Africa
The two men took the cash from an envelope, counted it carefully and spread it on the table in front of Raesetsa Makgabo in her village home.
Agrium restarts Vanscoy potash mine after mechanical failure, expansion
Production at the mine was suspended in July after a mechanical failure on the operation’s main hoist system.
Wabush woes: Labrador mining town reels from a China slowdown
Ron Barron has spent 30 years working in the Wabush mine, one of three generations of Barrons who have toiled in the open pits in what western Labrador bills as the iron ore capital of Canada.
Husky’s cost for oil sands project jumps by $400 million
Husky Energy Inc. says the price tag for a multibillion-dollar oil sands project jumped by $400-million, another sign that energy companies are struggling to contain costs in northern Alberta.
Hopes for Ontario’s Ring of Fire doused as mining companies grow wary
Ontario’s “Ring of Fire” mineral belt was supposed to be a $60-billion natural resources treasure trove that would bring employment and economic prosperity to a remote part of the province’s north. It hasn’t worked out that way.
In Alberta, anxiety grows over declining oil prices
Alberta’s oil patch and government are watching nervously as the slump in world oil markets threatens the province’s economic boom.
Japanese trader offloads $1 billion Canadian coal mine for $1
Marubeni Corp., a Japanese trader that with a partner bought Canada’s Grande Cache Coal Corp. for about $1-billion (U.S.) three years ago, will dispose it for a nominal $1 to a Hong Kong mining investor.
Gold price tipping point threatens mining operations
The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.
Rockefeller fund to divest oil sands, coal investments
The Rockefeller Brothers Fund, one of oilman John D. Rockefeller’s financial legacies, intends to immediately sell its oil sands and coal investments, arguing that the industries are two of the world’s most intense source of carbon emissions and that clashes with the charitable foundation’s desire to curb climate change.
How much does it really cost to mine an ounce of gold?
A scan of major gold producers’ earnings suggests the cost of mining gold has risen dramatically over the past few years.
The ironies of shipping U.S. coal from B.C.
The latest battleground for U.S. President Barack Obama’s so-called war on coal isn’t even in the lower 48 states. It’s across the border in British Columbia.
Canada needs to refine its oil sands ambitions
Despite European hostility toward “dirty” oil from Canada, refiners there may look more to Alberta for supply as price differentials and sanctions on Russia whet their appetite.
Gold miners to slash reserves as price drop forces revision
After years of costly mistakes, the new chief executives of Barrick Gold Corp. and Kinross Gold Corp. have ushered in an era of austerity in the precious metal sector.
The most important issue facing the potash industry
Global potash demand has not grown as expected, which is creating a number of issues for the industry.
Gold stocks to surge as much as 90% in 2013: fund manager
Gold will surge to new highs this year, a push upward that will cause a big rally in the depressed shares of precious metals miners, says John Hathaway, portfolio manager at New-York based Tocqueville gold fund.
Study finds little environmental impact from oil sands
In 2010, a single oil-sands operation run by Suncor Energy released into the atmosphere 28,940 tonnes of volatile organic compounds, 22,210 tonnes of sulphur dioxide and 14,011 tonnes of particulate matter.
Protect Canadian ownership of oil sands firms, executives urge
Top oil industry executives are asking Ottawa for rules to protect Canadian ownership of major oil sands companies from a flood of foreign investment expected in the sector.
Large Brazilian mining deal almost lost in translation
It’s an underwriter’s worst nightmare: you launch a bought deal, making you liable for any unsold shares, and then some shocking news about the company comes out. That exact scenario played out this week for Belo Sun Mining Corp. (TSX:BSX).
Ivory Coast plans windfall tax on gold miners’ profits
Ivory Coast plans a windfall tax of 19 per cent on gold mine profits to share in the benefits from soaring world prices for the metal.
Coal deal lost India $33 billion, says auditor
India’s official auditor accused the government of losing more than $33 billion in potential revenue by transferring coal mining blocks too cheaply to private companies.
Nationalism stumps Canadian mining companies in Latin America
From expropriations in Venezuela, Bolivia and Argentina to violent opposition in traditionally mining-friendly jurisdictions such as Peru and Chile, the rising political tensions pose a risk to a decade-long bonanza mining companies have enjoyed.
Chinese coal, iron ore defaults prompt mystery
Over the last two weeks, Chinese consumers of thermal coal and iron ore have been defaulting on their contracts, sending prices sharply down.
