Toronto, ON – October 26, 2011: Aecon Group Inc. (TSX:ARE) announced today that its Mining Division has been awarded a contract valued at approximately $80 million for work at a new potash mine, located approximately 140 kilometres east of Saskatoon, Saskatchewan. Under the unit price contract, Aecon Mining will conduct site preparation and early works, including site grading, construction of temporary roads, preparation of sediment ponds, and layouts for the camp. Work at the site has begun and is scheduled for completion in the fall of 2012. “This contract represents an important step forward for Aecon Mining, expanding its client base and its reach in Western Canada’s resource sector,” said Teri McKibbon, Aecon’s Chief Operating Officer. “The potash industry in Saskatchewan is undergoing significant growth, and Aecon is strategically positioned to play a role in many aspects of that growth.”
Canada Mining News
In the last decade spending on exploration in British Columbia has increased 20 fold. It was another bright spot for British Columbia's mining sector, as covered in PricewaterhouseCoopers' industry survey. "The estimated total economic output, value added GDP employment generated from exploration and development activities are $352 million, $168 million and 3,017 jobs respectively," wrote the survey authors.
An iron ore project in northeastern Canada whose proponent is calling "the next Consolidated Thompson," has taken an important step forward. Alderon Iron Ore Corp. (TSE:ADV) announced today it has begun filing material to start the federal and provincial environmental assessment process. The application would allow Alderon to double future annual production at its Kami Project in Quebec-Labrador to 16 million tonnes of iron ore concentrate annually.
According to a new report from PricewaterhouseCoopers LLP (PwC), direct mining expenditures in British Columbia mining crested $5.2 billion in 2010. An additional $3.7 billion was spent in secondary and support industries and services resulting in a total of $8.9 billion of economic activity across British Columbia. The Economic Impact Analysis report commissioned by the Mining Association of British Columbia (MABC) and compiled by PwC measures direct, indirect and induced economic impacts of mining in terms of output, Gross Domestic Product, employment and government tax revenues.
Stock boards were buzzing on Tuesday as traders tried to figure out why Western Potash Corp. was soaring 18.2% without any news about the $200 million firm that would drive the share higher. Despite having nothing to go on, speculators had swapped 2.3m shares by 3pm in Toronto, 1.5 times usual volumes. The junior player in Saskatchewan’s potash industry is in the pre-feasability stage of its 940 million tonne Milestone Project, but some doubt if WPX would be able to muster the finances and logistics to go up against the giants operating in the province.
Facing strong resistance from local constituencies, Nebraska governor Dave Heineman says he'll meet with state lawmakers to consider challenging the proposed route for the Keystone XL pipeline, CBC reports: Pipeline opponents, including a coalition of environmentalists, ranchers and landowners, sought the special session to consider a proposal that would have given the state control over the pipe's route. Lawmakers, however, said last week that the measure wouldn't likely survive a court challenge. The issue is expected to be addressed during the special session beginning Nov. 1.
Vancouver-based Titanium Uranium Inc. (CVE:TUE) and Toronto-based Energy Fuels (TSE:EFR) announced merger plans on Tuesday. Under the deal, outlined in a letter of intent, Energy Fuels will acquire all of Titan's outstanding common shares. Upon completion, Titan shareholders will own approximately 42% of EFR's issued and outstanding common shares.
Taku Gold Corp. (the "Company") (TSX VENTURE:TAK) is pleased to announce follow-up deep auger-type, soil geochemical survey results completed over the 292-claim (6,065 hectare) Montana property in mid-August 2011. The Montana property is located approximately 55km south of Dawson City in the Klondike gold camp of Yukon.
Despite global economic uncertainty, resource-rich Saskatchewan should offer significant salary gains for its workers in 2012, seeing an average 3.9% increase in wages. The Conference Board of Canada's compensation outlook was released on Tuesday. Saskatchewan is the world's largest exporter of potash and uranium. It also has a significant oil and gas sector. Saskatchewan leads all provinces in wage increases, followed by Alberta at 3.6 per cent.
Passport Potash, Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) has signed a letter of intent to enter into binding agreements under which NZ Potash, LLC will sell to Passport its 50% ownership interest in HNZ Potash, LLC. Passport and HNZ Potash will strive to jointly develop their combined potash properties in the Holbrook Basin. When combined the properties will contain over 200,000 acres of mineral rights and will cover over 300 square miles. Following the release of Passport's NI 43-101 from SRK containing an exploration potential, the Company intends to jointly prepare an NI 43-101 resource report with HNZ Potash. Exploration activities of the combined companies that have been completed to date consist of over 50 drilled wells and over 100 lines miles of 2D seismic.
In an object lesson on the fickle nature of junior explorer investment, dismayed investors took a huge chunk out of Viper Gold's stock on the Toronto Venture Exchange after trade resumed Monday afternoon. Viper lost 18% of its value to trade at 13c after it reported results for the verification sampling at its Campbell Lake property showed none of the high grade gold values – up to 10 grams a tonne – announced a fortnight ago. The initial grades sent the shares of the tiny Ontario explorer soaring to almost double of what it is worth now. The company said it is investigating the huge discrepancies after weakly anomalous values were found in 5 samples and the remaining 12 were "below detection level." Viper, which is also looking for gold in Peru, hit a high of 47c early this year.
Cascadero Copper Corporation (TSX VENTURE:CCD) has entered into an Option Agreement that enables it to earn a 100% interest in the Powerline gold prospect (the "Property") in Street and Scadding Townships in the Sudbury Mining District, Ontario. The Property consists of 31 contiguous units in four claims blocks. The agreement provides for cash, shares and an exploration commitment over a four-year term. The Property is subject to a 3% net smelter return royalty (the "NSR"), 50% of which can be purchased for cash.
ST ANDREWS, NEW BRUNSWICK--(Marketwire - Oct. 24, 2011) - Portage Minerals Inc. ("Portage") (CNSX:RKX), today announced on behalf of the joint venture with Cliffs Chromite Ontario Inc. (f/k/a Freewest Resources Canada Inc.) ("Cliffs"), a w...
Silvercorp Metals, China’s biggest silver miner, was changing hands for $9.72 in Toronto on heavy volumes shortly after the open Monday, up almost 19% after a report by the forensic accounting arm of KPMG showed no truth to allegations of $1 billion in accounting fraud at the company. Shareholders who held onto their Silvercorp stock during the rollercoaster ride that started on September 2 when the company had to go public with the accusations, believed to be the work of shortsellers that had built up a massive position in the stock, are now able to show a handsome profit for their loyalty. The company is suing two New York-based websites – Chinastockwatch.com and Alfredlittle.com – for spreading false information and is seeking punitive and compensatory damages.
Rare Earth Metals Confirms REE Mineralization in East Lavergne Mineralized Zone on Its Springer Lavergne Prospect
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(PINK SHEETS:RAREF)(OTCQX:RAREF) is pleased to report the completion of the initial drill program on the Lavergne REE Prospect.
Anaconda Mining has successfully completed an extensive array of circuit upgrades and regularly scheduled maintenance with minimal downtime at its Pine Cove mill in Newfoundland. Anaconda planned to make modifications to various areas of the mill, precipitated by the replacement of its two rotary drum filters. As a result, during the latter part of September and early October, the Pine Cove team installed new drum filters, relined the primary ball mill, converted a pregnant solution tank to be a fourth leach tank, added a new pregnant solution tank, modified all leach tanks and performed other routine maintenance items.
Now, the federal government’s challenge is to keep the thousands of tonnes of arsenic trioxide dust frozen in the ground forever. Environmental and engineering experts wrapped up their week-long talks about cleaning up the site on Friday.The federal...
measure for the Fuel Quality Directive (FQD). The European Commission has recently proposed an implementing measure that differentiates oil sands crudes from all other sources of crude oil. Yet there has not been a comprehensive scientific study of the
Text: A A The government of Alberta is calling the European Union's stand on the oilsands 'unfair' and a potential threat to trade ties. Alberta officials have written to EU experts, voicing "grave concerns" over plans to rank unconventional oil as a
Mineral explorers support fair settlement to address consequences of the uranium exploration ban in British Columbia
Today the Association for Mineral Exploration BC (AME BC) expressed its strong support of the BC government’s recent $30 million out of court settlement with Boss Power Corp and its move to resolve the consequences of the politically-driven ban on uranium and thorium exploration in British Columbia.
An Alberta court has rejected Ecojustice's challenge, launched on behalf of the Pembina Institute, of the Alberta Utilities Commission's (AUC) approval of a controversial coal-fired power plant expansion. In June, the AUC endorsed an expansion of Maxim Power Corp.'s Milner plant in Grande Cache, Alta., a move that could allow the company to avoid new federal greenhouse gas regulations that effectively require a 50 per cent cut in emissions.
New Carolin Gold Announces Non-Brokered Private Placement and Enters Into Business Development Consulting Agreement
New Carolin Gold Corp. (TSX VENTURE:LAD) (formerly Module Resources Inc. TSX-V:MLE) is pleased to announce that, subject to regulatory approval, it intends to complete a non-brokered private placement with Mr. Bruce M. Rykiss of 300,000 units at a price of C$0.10 per unit for gross proceeds of C$30,000. VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2011) -
TORONTO, ONTARIO--(Marketwire - Oct. 21, 2011) - Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Company") is pleased to announce that it has closed the previously announced private placement of flow-through units (see Eloro news release dated September 1, 2011). Eloro closed the sale of 4,625,000 flow-through units at a price of $0.20 per unit for gross proceeds of $925,000. Eloro did not proceed with the sale of any non-flow-through units at a price of $0.18 per unit, as detailed in the September 1, 2011 press release.
Hard Creek Nickel Corporation – Updated Preliminary Economic Assessment models production of saleable concentrate
(VANCOUVER) - Hard Creek Nickel Corporation (TSX - HNC) is pleased to release the results of a new Preliminary Economic Assessment (PEA) of its wholly owned Turnagain Nickel Project in Northwestern British Columbia. Please click on the following link
Canada-EU trade row brewing as bloc says WTO won't stop it from ranking oil sands world's dirtiest fuel
Reuters reports a proposed European Union law to rank Canadian oil sands as dirtier than conventional fuel can probably be successfully defended if Ottawa challenges the move at the World Trade Organization according to legal advisers to the EU's executive. The statement comes a day after environmentalists hurled accusations and interrupted a speech by Canada's resources minister, who was on tour to persuade Britain not to join the EU oil sands initiative. The government of Alberta has also written to EU experts voicing "grave concerns" that the bloc's plans are unfair and a potential threat to trade ties ahead of a Tuesday meeting to debate a green ranking of fuels. Royal Dutch Shell and France's Total are the top European investors in the oil sands.