Canada Mining News

William and Kate visit Yellowknife, get Diavik diamonds

Polar bears were the theme of the diamond jewelry items presented to the Duke and Duchess of Cambridge during their visit to Canada's Northwest Territories. The newlyweds received a set of diamond pave cufflinks modeled after the polar bear logo of the NWT Government, and a diamond pave brooch also in the shape of the North's iconic bear.

China daily crude steel output at record in Jun

China's daily crude steel output hit a record high at the end of Jun amid a construction boom, Reuters reported. Daily output in China, the world's top steel-producing country, hit 2.018 million tonnes in the last 10 days of Jun, up 3.2% from the

Timmins Gold announces sale of Pacific Road block

Vancouver, BC - Timmins Gold Corp. (TSX:TMM) and Pacific Road Capital Management have engaged MPartners and National Bank Financial as agents to sell, on a best efforts basis, the 25,205,090 common shares of the Company held by Pacific Road Capital

Trevali announces $15 million non-brokered private placement

Trevali Mining announced that it has arranged a non-brokered private placement of up to 10,000,000 common shares at a price of CDN $1.50 per common share to raise gross proceeds of up to CDN $15.0 million (the "Offering"). Closing of the Offering is anticipated to occur on or before July 21, 2011 and is subject to receipt of all necessary regulatory approvals.

First Majestic Silver Corp.: another record quarter of silver production

First Majestic Silver announced that production in the second quarter of 2011 reached 1,843,830 equivalent ounces of silver, representing an 11% increase over the 1,656,165 equivalent ounces of silver produced in the second quarter of 2010. Production during the quarter consisted of 1,780,379 ounces of silver, making First Majestic's second quarter production 97% pure silver, the highest in the silver mining industry.

AJM Deloitte releases June 30, 2011 oil and gas price forecast

A strong Canadian dollar, a well-supplied North American market and a lack of access to international markets continues to dampen Canadian domestic oil and gas prices according to a quarterly price forecast released today by AJM Deloitte.

Saskatchewan potash production could come close to record levels this year

Potash will play a huge role in Saskatchewan's predicted economic growth of an average rate of 3.5% over 2011 and 2012, according to the latest economic forecast by Scotiabank. Potash production is expected to climb close to its 2007 peak of 11 million tonnes in 2011, after suffering a dramatic 60% drop during the recession of 2009.

Shear Diamonds acquires new claims surrounding Jericho Diamond Mine

Winter diamond mining in Canada (illustrative) Shear Diamonds Ltd. has announced the acquisition of 34 newly staked claims totaling 77,250 acres contiguous with the Carat Property surrounding the Jericho Diamond Mine.

International Lithium updates Mavis Lake project

International Lithium Corp.'s update on a Canadian rare earth metals project. Surface exploration on the Mavis Lake rare metals’ project, located 15 km Northeast of Dryden, Ontario, revealed high-grade well-evolved lithium and tantalum zonation as well as significant levels of cesium and rubidium across multiple pegmatite bodies.

Selwyn announces Korea Zinc warrants exercise

Released By Selwyn Resources Ltd. Share: Text Size: VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/07/11 -- Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE: SWN) is pleased to announce that one of its major shareholders, Pan-Pacific Metal Mining

Mineworkers around the globe unite for higher wages

Unrest and strikes in Indonesia, Chile, Australia and Africa, a shortage of skilled workers in North America and rising labour costs all over the globe are quickly becoming the most serious downsides of a mining boom that started almost a decade ago. While a historically high overall jobless rate is masking spiking wages in the resources sector in the US, workers in emerging markets are shutting down operations of mining companies deemed not to be sharing record profits fairly.

Shear announces additional 750,000 acres in mineral rights and exploration update, Jericho Diamond Project, Nunavut

Shear Diamonds Ltd. (TSX VENTURE:SRM) today announced the acquisition of 34 newly staked claims totaling 77,250 acres contiguous with the Carat Property surrounding the Jericho Diamond Mine. This new land package provides Shear with blanket mineral rights covering existing and newly interpreted priority indicator dispersion trains. Shear's ongoing review of historical datasets has confirmed compelling evidence of undiscovered kimberlites in certain areas outside the immediate mine area with recommended ground follow up.

HudBay completes Peru acquisition to up copper output 145%

Copper-zinc miner HudBay Minerals said Wednesday it has acquired the roughly 2.5m shares in Norsemont Mining it did not already own, giving it 100% ownership. The acquisition is set to increase HudBay's copper output by about 145% when Norsemont's Constancia mine in Peru comes into full production. The news comes a day after the company announced it will spend $144m to build a new concentrator at its Lalor project in Manitoba, Canada.

Top 10 metals and minerals projects in Canada total $57.3bn

The Top 10 Metals & Minerals Industry projects in Canada are dominated by large-scale oil sands and metal mining projects. What was once considered a large project is being dwarfed by today's mega-projects. Projects exceeding $1 billion are no longer rare, but commonplace. Currently, there are 67 projects in Canada with a total investment value (TIV) of $1 billion or more.

Oilsands Quest Provides Update on Strategic Alternatives Review Process

Oilsands Quest assessed the results of the formal strategic alternatives process launched on August 17, 2010, which explored options to enhance shareholder value. After opening a data room and holding discussions with several entities in recent months, Oilsands Quest has achieved a clear understanding of asset development that potential partners or purchasers are seeking.

First Point Minerals announces positive metallurgical test results for Decar project

First Point Minerals Corporation announced positive metallurgical results from test work completed by Cliffs Natural Resources Exploration Inc an affiliate of Cliffs Natural Resources Inc CLF +1.35% FR:CLF +6.43% for the Decar nickel project in central

Canada precious metal stocks on rampage led by silver

Canada's biggest precious metals stocks were up an average 5.5% in late afternoon trade on Tuesday led by Endeavour Silver and Silvercorp Metals which both added around 12%. First Majestic Silver was up 9% and Silver Wheaton 6%. The index with an average market capitalization of US$7.7bn was outperforming a lacklustre broader market with bellwethers Barrick and Goldcorp also making substantial gains. Weak economic news from Europe, lingering concerns about the Greek debt crisis and media reports that China may raise interest rates have lured investors back to precious metals.

Thawing Arctic now home to one-fifth of recoverable oil deposits

A new report by Global Data on the top 2011 oil and gas investment destinations claims as much as 22% of the world's undiscovered and technically recoverable oil and gas could lie within Arctic territories. Oil and mineral wealth coupled with the opening of new shipping routes are transforming cities and towns in the region. Apart from the Arctic and Canada's oil sands where new projects could up current production of 1.7m bpd by another 2.7m bpd, new discoveries in Ghana, Uganda and other parts of Africa which remain largely unexplored are also attracting billions in investment from foreign oil and gas companies.

Britain’s richest man to build giant Arctic iron ore mine

The Guardian reports the billionaire chief of ArcelorMittal Lakshmi Mittal is planning a giant new opencast mine 300 miles inside the Arctic Circle in a bid to extract a potential $23bn worth of iron ore. The mega-mine – which includes a 150km railway line and two new ports – is believed to be the largest mineral extraction project in the Arctic and highlights the huge commercial potential of the far north as global warming makes industrial development in the region easier.

Canadian mining sector has a great April: Statistics Canada

Canadian base metal and coal miners were the nation's economic bright spot in April, according to report from Statistics Canada released on Thursday. The study, which looked at gross domestic product by industry, found that mining grew strongly while the rest of the economy was mostly flat.

Lekstrom given lengthy shopping list

A bridge, two roads, a ferry and a wharf — these transportation issues faced by Kitimat were on the table here last Wednesday in a meeting between B.C.’s transportation minister, the mayor and a few city councillors.

More environmental rules needed, says law centre

British Columbia needs more evironmental regulations to govern mine development, says the University of Victoria Environmental Law Centre.The authors, Calvin Sandborn is legal director and Maya Stano, claim that the current mine regulatory system is weak.

First iron ore train in 30 years leaves Schefferville

Stocks in Labrador Iron Mines Holdings ended up 5% in Toronto on Thursday after reporting that on June 29, 2011 the first loaded iron ore train departed Silver Yards for the Port of Sept-Iles travelling over the TSH and QNS&L railways. This historic event is the first commercial iron ore train from the Schefferville area in almost 30 years. Labrador is developing twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. LIM’s properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982.

Teck announces pricing of US$2.0 billion notes offering

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has priced its previously announced offering of senior unsecured notes. Teck will issue US$2.0 billion in aggregate principal amount of notes, consisting of US$300 million aggregate principal amount of 3.15% notes due 2017, US$700 million aggregate principal amount of 4.75% notes due 2022 and US$1.0 billion aggregate principal amount of 6.25% notes due 2041.

Government of Canada, Teck and Micronutrient Initiative announce partnership to implement lifesaving zinc treatment programs

The Micronutrient Initiative (MI) and Teck Resources Limited (Teck) announced today they are joining hands in a new partnership to develop and sustain zinc treatment programs to help save children's lives.