Canada Mining News

Teck to spend $685 million on upgrades

Teck Resources Limited (NYSE: TCK) will invest $210 million at its Trail Operations to increase its capacity to recycle end-of-life electronic waste and $475 million in a mill modernization project at Highland Valley Copper. Both operations are located in British Columbia. The No. 4 Furnace Project at Trail Operations includes the construction of a new slag fuming furnace and settling furnace that will integrate into the existing lead smelting process. Construction on the project will begin in 2012 with completion scheduled for 2014.

Fluke Products Take Top Honors in the Consulting-Specifying Engineer Product of the Year Awards

EVERETT, WA--(Marketwire - Sep 22, 2011) - Two products from Fluke Corporation, the global leader in portable electronic test and measurement technology, have been recognized as best new products in the Consulting-Specifying Engineer Product of the Year Awards. The Fluke® TiS Thermal Imager was named Most Valuable Product of 2011 and won the test instruments, meters, data-loggers category gold award. The 810 Vibration Tester took the bronze award in the same category.

Silvercorp repurchases approx. $35 million of shares under NCIB

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2011) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) announced it has acquired a total of 4,468,012 of its common shares at a total cost of $34,949,140 (average price of CDN$7.82 pursuant to its normal course issuer bid ("NCIB") announced on June 17, 2011. Under the existing NCIB the Company intends to acquire up to 10 million common shares. All common shares purchased under the NCIB will be cancelled.

BMO launches gold deposit program that makes it simple for Canadians to purchase and hold physical gold bullion

BMO Financial Group is making it simple for Canadians to purchase and hold physical gold bullion. With the launch of BMO's Gold Deposit Program, clients will be able to purchase physical gold using a delivery and custody process that is simple, efficient and cost effective. Physical allocated gold deposits are not new to Canada but easy access for clients has always been a challenge. BMO is offering this unique program exclusively through BMO Nesbitt Burns Investment Advisors, or through in-branch Resident Investment Advisors.

Canadian dollar plunges almost three cents on gloomy Fed assessment

The loonie tumbled almost three US cents Thursday to its lowest level in about a year as a gloomy assessment of the U.S. economy sent commodity prices reeling and traders to the safe haven status of the U.S. dollar.

Study shows Calgary climbs to top of corporate ladder

A new Fraser Institute study shows when adjusted for population, Calgary in Alberta is by far the Canadian leader in the concentration of corporate headquarters, with 6.0 corporate head offices per 100,000 people in 2010, double that of Toronto. This concentration in the country's oil heartland is important because of the spin-off effects associated with corporate headquarters. Support professionals such as lawyers, consultants, and accountants tend to establish themselves near these headquarters and create a larger professional community, a greater concentration of knowledge, and easier access to high quality services for other companies nearby.

Colorado significantly expands Hit property in BC

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce it has signed a letter agreement with two private individuals to acquire a 100% interest in the 8,546 hectare Aspen Grove South Property, located in southern B.C. To earn its 100% interest, Colorado must issue 100,000 shares, subject to TSX Venture Exchange approval and grant the vendors a 2.5% N.S.R. of which the first 1.5% may be purchased for $1 million and the remaining 1% for $3 million.

Canada PM joins chorus calling oil sands pipeline a fait accompli

Canada's Prime Minister Stephen Harper says he can't imagine the Obama administration rejecting the proposed Keystone XL oilsands pipeline, arguing the final decision should be a "complete no-brainer." Harper made the comments in an interview with Bloomberg News during his trip to New York for meetings with US business leaders and at the UN. The proposed $7 billion, 3,190km Keystone XL pipeline connecting Alberta’s oil sands to refineries on the US Gulf Coast should help Canada move closer to the international benchmark for crude instead of US pricing which trades at a discount of more than $25. Canada currently pumps 2 million barrels per day to the US, with more than half coming from the oil sands.

Saudi Arabia just did the oil sands a huge favour ran commercials about the treatment of women in Saudi Arabia on the Oprah Winfrey Network late August and has now been dragged in front of Canada's advertising authorities by the Kingdom, handing the controversial website a PR victory just as it was beginning to look as if its message was being drowned out by Hollywood celebs protesting oil sands pipelines.

Coal takes off

Without international agreements to limit greenhouse gas emissions, a new energy report sees world coal consumption taking off, rising from 139 quadrillion Btu in 2008 to 209 quadrillion Btu in 2035. The U.S. Energy Information Administration released its International Energy Outlook 2011 on Monday. While OECD countries, like the U.S., Canada, Australia and Japan, show a flat to declining consumption in coal, the non-OECD countries, namely China and India, show the demand for coal-powered energy exploding.

Trevali announces $40.0 million offering of 5-year convertible senior unsecured debentures by way of a short form prospectus

Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(OTCQX:TREVF)(FRANKFURT:4TI)(BVLAC:TV) is pleased to announce that it has filed a preliminary short form prospectus with the Securities Commissions in each of the Provinces of Canada in connection with an offering (the "Offering") of C$40 million principal amount of 5-year convertible senior unsecured debentures (the "Debentures"). The Offering will be conducted through a syndicate of underwriters led by Raymond James Ltd. and including GMP Securities L.P., Scotia Capital Inc., M Partners Inc. and Paradigm Capital Inc. (collectively, the "Underwriters").

Rogue Resources intersects 1.2% nickel over 29 meters at Langmuir

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2011) - Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") is pleased to announce assay results from diamond drilling conducted on its W4 Langmuir Nickel Deposit earlier this year. The Langmuir property is located 35 km south of the city of Timmins, Ontario. The company drilled 13 diamond drill holes totaling 2,282 meters. Six HQ sized holes were drilled for the purposes of metallurgical testing on the A zone and seven NQ sized holes were drilled to test for extensions on the east side of the W4 deposit. Drilling intersected significant mineralization in both the metallurgical and exploration drill holes (see complete results tabulated below).

Fjordland enters into agreement with major mining company to explore its QUEST copper-gold properties in central British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2011) - Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to announce that Xstrata Copper Canada, a business unit of Xstrata Canada Corporation, has entered into an option agreement to explore a number of Fjordland's QUEST JV properties, currently held with Serengeti Resources Inc. (TSX VENTURE:SIR) in a 63.3% SIR/36.7% FEX joint venture. The agreement provides Xstrata the right to earn an initial 51% interest in the properties by funding $5 million in exploration expenditures and making firm and optional cash payments totaling $325,000 to the joint venture over four years. Xstrata has the right to earn an additional 14% interest for an aggregate 65% interest in the properties by completing a feasibility study or incurring no less than an additional $25 million in expenditures on the properties.

Northern Graphite reports large increase in resources

Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to announce a significant increase in estimated resources on its Bissett Creek graphite project based on the results from a 51 hole, 2,927 meter drilling program.

Canadian stocks rise; Goldcorp rallies 6 pct

Canada's main stock index gained nearly 1% Tuesday, recovering the prior session's losses, as gold mining stocks rallied alongside a surge in gold futures.

Victory Nickel receives board approval to proceed with development of Minago Mine

Victory Nickel Inc. (the "Company") CA:NI 0.00% ( ) today announced that its Board of Directors has approved the development of the 100%-owned Minago sulphide nickel mine located on the Thomson Nickel Belt in central Manitoba.

Grandich lauds board appointment at Spanish Mountain

Peter Grandich has high praise for the appointment of Don Coxe to Spanish Mountain's board of directors.

Avanti intersects 598.5 meters averaging 0.077% molybdenum at Kitsault

Avanti Mining Inc. CA:AVT -2.86% (pinksheets:AVNMF) ("Avanti" or the "Company") is pleased to announce that it has received assays from the next 14 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia.

Lakeland gets a 30% bump on high gold grades at Midas

Lakeland Resources (TSX-V:LK) was up nearly 30% at the close of trading Tuesday, after the company said it made a new gold discovery on its Midas property in Ontario, Canada. A 1500-metre drill program returned grab sample values ranging from 2 g/t to 130 g/t, Lakeland said, with one non-assayed sample containing 5.92 g/t gold over 4.70 metres.

FLSmidth to acquire Canadian company Knelson

FLSmidth has today signed an agreement to acquire the assets of the privately owned company Knelson, a Canada based corporate partnership which is active within the minerals industries. Knelson develops, manufactures, and installs equipment for the recovery of precious metals such as gold, platinum and silver, as well as the enhanced gravity separation of base metals and industrial minerals with over 3000 installations in over 70 countries worldwide. The customer base comprises all the major gold, platinum and silver mining companies.

Pacific Potash Corporation Signs LOI for Potash Property and Proceeds With Permitting for Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Pacific Potash Corporation (TSX VENTURE:PP) ("Pacific Potash" or the "Company") is pleased to announce that it has signed a letter of intent ("LOI") with Grizzly Discoveries Inc. ("Grizzly") to commence a multiple drill hole exploration program on the Pacific Potash - Grizzly 50:50 owned Property surrounding Pacific's 100%-owned Provost Property. Pacific Potash and Grizzly have engaged Barlon Engineering and Taylor Land Services, both of Calgary, Alberta, to coordinate the required well licensing and site preparations for three well-site locations. The LOI indicates that a minimum of one well will be drilled and that the costs will be shared equally by Pacific Potash and Grizzly. Depending upon results, up to three wells may be drilled on the 50:50 Property. Drilling on the 50% Property is expected to commence in October.

Quantum Rare Earth Developments Corp announces additional drilling results from Elk Creek, Nebraska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce Rare Earth Element ("REE") results for the remaining two holes of the spring/summer exploration program at the Elk Creek Niobium – REE Project, located in southeastern Nebraska, USA. REE results have been finalized for drill holes NEC11-004, located approximately 2.5 kilometres east of the Niobium Deposit; and NEC11-005, located approximately 1 kilometre ENE of the Niobium Deposit.

Prophecy Platinum clarifies and restates certain disclosure

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) reports that as a result of a review by the British Columbia Securities Commission (BCSC), it is issuing the following news release to clarify, retract, restate and update certain of its previously issued technical reports, investor relations presentations and disclosures on its website

Orbite Receives Receipt of Final Prospectus Qualifying its C$57.5 Million Bought-Deal Offering

Exploration Orbite V.S.P.A. Inc. (TSX VENTURE:ORT.A) ("Orbite" or the "Company") is pleased to announce that it has obtained a receipt for its final prospectus filed in each of the provinces of Quebec, Ontario, Alberta and British Columbia (the "Receipt"). The prospectus qualifies for distribution 17,968,750 class A shares (the "Common Shares") of the Company and 8,984,375 common share purchase warrants (the "Warrants") of the Company issuable upon the automatic exercise of 17,968,750 previously issued special warrants (the "Special Warrants"). The automatic exercise of the Special Warrants is expected to occur at 5:00 p.m. (Montreal time) on September 22, 2011, being the third business day after the issuance of the Receipt. The Receipt for the prospectus was obtained within the prescribed deadline.

Altius and Century Iron Mines sign principal and royalty agreements on four Labrador Iron Ore properties

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Sept. 20, 2011) - Altius Minerals Corporation (TSX:ALS) ("Altius") and Century Iron Mines Corporation (TSX:FER) ("Century") are pleased to announce that they have signed a principal agreement and a royalty agreement (together, the "Agreements") covering four of Altius' regional iron ore projects in the Labrador Trough: Astray, Grenville, Menihek and Schefferville. Under the Agreements, Century will acquire a 100% interest in the four projects for exploration expenditures of $7 million per project and the issuance of 5 million Century shares cumulatively over a 5-year period. Altius will retain a 1% to 4% sliding scale Gross Sales Royalty ("GSR") on the properties as well as additional consideration of "bonus" Century shares as National Instrument 43-101 compliant iron ore resources are defined above various thresholds.