Canada Mining News

Grizzly provides update on Alberta Potash Project – commences seismic data acquisition and interpretation

Grizzly Discoveries Inc. (TSX VENTURE:GZD) (OTCQX:GZDIF) (FRANKFURT:G6H) provides the following update for its Alberta Potash Project:

BC Conservatives: mine project offers prosperity

BC Conservatives Leader John Cummins visited 100 Mile House recently, and had a lot to say about the Prosperity Mine in the Chilcotin. The issues with the proposed gold and copper mine project need to be addressed, he explained. The Prosperity Mine environmental assessment received approval from the B.C. Liberal government, but was later given the thumbs down by the federal Conservative government.

Forbes Coal gets ready to list

Forbes Coal, the Canadian bituminous coal and anthracite producer which plans to list on the JSE later this month, wants to triple production at its two projects in Dundee, KwaZulu-Natal, to take advantage of booming demand.

Crosshair commences drilling in the Central Mineral Belt, Labrador

Crosshair Exploration & Mining Corp. (CXX – TSX, CXZ – NYSE – Amex) said this week that drilling has commenced at both the CMB Uranium/Vanadium Project and the CMB Joint Venture ("CMB JV") Uranium Project […]

Shore Gold says Saskatchewan diamond mine is feasible

Shore Gold announced on Friday the results of a feasibility study done on the Fort a la Corne site near Prince Albert. George Read, senior vice-president of exploration and development, says the results show that a world class diamond mine is feasible in central Saskatchewan.

Debunking the rare earth hype

China announced this week that it was nearly doubling its rare earths export quota for the next six months compared to last year. But the Chinese government was promptly criticized by overseas officials who say […]

Goldcorp estimates 1-2 week disruption at Musselwhite due to forest fires

Forest fires near Goldcorp's Musselwhite mine in north-west Ontario could result in a one- to two- week production halt for the mine, but it is still to early to say for certain, a company spokesperson said on Friday.

Silver Spruce Reports Start of Field Work Including Planned Diamond Drilling-CMBJV-Central Mineral Belt, Labrador

Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) is pleased to announce that fieldwork, to include diamond drilling, has begun at the CMB Joint Venture ("CMB JV") uranium project located in the Central Mineral Belt of Labrador.

North American Palladium draws bullish bets

Shares in the platinum and precious metals mining company rose as much as 6.4% at the start of the session to an intraday high of $4.98 before the broad market soured during Fed Chairman Bernanke’s second day of testimony on Capitol Hill.

MINING.Com Podcast: Canadian iron ore project advancing

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) 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.

Musselwhite Mine Evacuation: Goldcorp removes North Ontario miners due to forest fires

Goldcorp Inc. (TSX:G) has removed most of its 380 employees from the Musselwhite mine in northwestern Ontario due to forest fires in the area.

Fortune Minerals, POSCO form coal JV in BC

A Canadian coal junior has teamed up with one of the world's largest steel producers to move the Mount Klappan Metallurgical Coal Project in northern British Columbia into production. Fortune Minerals said yesterday that it has formed a joint venture with POSCO Klappan Coal Ltd. and POSCO Canada Ltd. (POSCAN) — a subsidiary of South Korean steelmaking giant POSCO.

Midas Gold Corp. IPO values Vista Gold investment at $103 million

Vista Gold Corp.announced Thursday Midas Gold Corphas successfully completed an IPO, issuing 12,307,700 common shares of Midas ("Midas Shares") for gross gross proceeds of Cdn$40,000,025 million. Based on the IPO price of Cdn$3.25 per share, Vista's investment in Midas is expected to have a value of Cdn$103,358,499 and based on the number of issued common shares of Vista, this is equivalent to Cdn$1.45 per Vista share.

Gold-Ore announces earnings of $3.0 million in second quarter

Vancouver's Gold-Ore Resources Ltd announced Thursday that it has released financial results for the second quarter ended May 31, 2011.

India alarm over 'potash cartel' grows

India's Department of Fertilisers raised concerns with the country's Foreign Affairs minister on Thursday over 2011 prices set by Canpotex, the company that markets and distributes Saskatchewan's potash globally. India's farming co-ops have halted imports due to the impasse and while waiting for a government decision on import subsidies. At over 6 million tonnes/year India is the biggest importer but says it pays much higher prices than a country like China can negotiate.

Western Potash stock is floated on Tuesday, sunk on Wednesday

On only the second day of trading in Western Potash Corp. common shares on the main board in Toronto, investors were already abandoning the stock in droves. The junior player in Saskatchewan’s potash industry ended Wednesday down 5.5% after an analyst downgraded the stock. Western Potash is in the pre-feasability stage of its Milestone Project in the south of the province where it hopes to mine almost a billion tonnes of potash using steam.

Sandstorm Gold signs gold purchase deal with Donner Metals

Sandstorm Gold shares were one of the most heavily traded on the Toronto Venture Exchange on Wednesday morning, while Donner’s stock was one of the top traded with a 15 percent rise.

Jet Gold options Zinc Bay property

Brad J. Moynes, President of Jet Gold Corp. ("Jet Gold" or the "Company") (TSX-V: JAU) is pleased to announce that the Company has signed an option agreement with Guardsmen Resources Inc. to acquire up to a 75% interest in the Zinc Bay property located in northwestern British Columbia.

FLetcher Nickel Inc Warrant Exercise

Fletcher Nickel Inc. President Frank Smeenk, Suite 1000, 141 Adelaide Street West, Toronto, Ontario exercised a total of 1.4 million warrants, expiring July 13, 2011, to acquire Fletcher Nickel Inc. (the "Company") common shares from treasury at $0.06 each (the "Transaction").

Opti Canada files for creditor protection

Reuters) - Opti Canada Inc , whose major asset is a stake in Nexen Inc's troubled Long Lake oil sands project in northern Alberta, filed for court protection from creditors on Wednesday as it agreed on a equity-for-debt swap with bondholders. Opti said

Northgate Minerals to acquire Primero Mining for $370 million

Northgate Minerals announced on Wednesday that it will acquire Primero Mining for $370 million. The new company, which will have a combined market capitalization of approximately $1.2 billion, will be a mid-tier gold producer and will tie together the San Dimas mine in Mexico; the Fosterville and Stawell gold mines in Australia; and the Young-Davidson gold development project in Ontario.

Spanish Mountain Announces Closing of $20 Million Financing

Spanish Mountain Gold Ltd. ("the Company") (TSX VENTURE:SPA) is pleased to announce that it has closed its private placement offering (the "Offering"), previously announced on June 30, 2011. Pursuant to the Offering, 33,333,328 units (the "Units") have been placed at a price of $0.60 per unit for total gross proceeds of approximately CAD$20,000,000.

N. American Palladium to produce gold at Quebec mine in 2012

Precious metals company North American Palladium Ltd expects underground production at its Vezza gold project in the Abitibi region of Quebec to begin early next year.

Stepping up aboriginal presence in oilsands workforce

Governments and industry are putting up $1.5 million for a mobile business-incubator project designed to help fledgling firms get into the oilsands industry. All along Highway 881 — called the SAGD Alley, after the steam-assisted gravity drainage system of oilsands production — which runs from Fort McMurray south to Lac La Biche, aboriginal communities are in the midst of Alberta’s booming underground oilsands region.

St. Eugene plans to expand Tartan Lake drilling program

Reuters reported that positive gold discoveries at Tartan Lake prompted St. Eugene Mining Corp to expand its drilling program.