Shear Diamonds’ executives have been missing since last year.
Even with the downgrade, overall economic growth in Nunavut is forecast to be 3.4% in 2013 and 8.8% in 2014.
The company has opened a winter road and intends to move about 200,000 litres of fuel and other supplies to the site.
Site is believed to hold nine million ounces of the yellow metal.
Canadian junior miner Shear Diamonds executives and website seem to have vanished off the face of the earth.
Canada's mining industry needs to urgently deal with the emerging challenges, said a report published Wednesday the Canadian Chamber of Commerce.
Exploration investment in the country reached a record high of $3.9 billion in 2011, with the three territories receiving 22% of the total international spending for the year.
While the US interior department has launched a review of Shell’s whole Arctic oil drilling programme, mining projects look promising.
Mining has become the main contributor to Canada’s Nunavut Gross domestic product (GDP), eclipsing even the government. From all the territory's riches, experts believe that diamonds will play the biggest role in Canada’s future.
China-backed metals producer Minerals and Metals Group (MMG) might be the new kid on the Canadian Arctic block, but it is already moving ahead with its plans to build mines in Nunavut in the next six years.
Mining has eclipsed government as the No. 1 contributor to Nunavut's GDP, a government official told me recently.
Baffinland's controversial and massive Mary River iron ore mine in the Qikiqtani Region of Nunavut —almost 500 kilometres inside the Arctic circle— continues to polarize residents as the $4 billion project awaits its final approval.
Sinking global commodity prices have negatively impacted Canada’s North near-future mining outlook, but longer-term prospects for the industry in the three territories remain strong.
De Beers has the exclusive right to enter into a joint venture agreement with Peregrine for the Chidliak diamond project located on Baffin Island, Nunavut, Canada.
The reason that drove the company to stop looking for diamonds in its high-grade stockpiles last week was the “continuing weak world diamond prices."
The new kid on Canadian Arctic block is announcing plans to build two mines in Nunavut in the next six years.
The president of the Qikiqtani Inuit Association is on a junket at the London Olympics as a guest of ArcelorMittal, which is in the final stages of getting approval for its giant iron mine on Inuit land.
Inuit in northern Quebec are requesting another review into how Baffinland's Nunavut-based iron ore project will effect the surrounding area.
The Qilalugaq Diamond Project includes the Qilalugaq kimberlite pipes and the Naujaat system of kimberlite dykes, and has been the focus of ongoing exploration and assessment work by Stornoway since it was optioned and subsequently acquired from BHPB Billiton Diamonds in July 2006 and July 2010.
Announced yesterday, the government of Nunavut is in favour of uranium mining on the condition that the radioactive ore be used for peaceful and environmentally responsible purposes only.
A positive PEA for it Black River gold project in Nunavut, Canada gave Sabina Gold & Silver (TSX:SBB) a 5.6% bump in its stock price Tuesday.
Canadian junior Shear Diamonds Ltd. (TSX VENTURE:SRM) announced today it’s begun processing diamonds from the stockpiles at its Jericho diamond mine in Nunavut, Canada.
China's push to diversify its supplies away from the big three iron ore miners is propelling development that will transform Canada's Nunavut/Labrador Trough into a world-class iron ore region.
Prosperity Goldfields Corp. ("Prosperity") (TSX VENTURE:PPG) andSmash Minerals Corp. ("Smash") (TSX VENTURE:SSH) provide an update on their amalgamation and the core drilling program at Prosperity's Kiyuk Lake gold property, Nunavut.
Areva's Kiggavik mine in Nunavut, northern Canada, could be open as early as 2017, CBC News is reporting.
Vale — the second largest nickel producer in the world — plans to begin looking for nickel this year on the Melville Peninsula near Repulse Bay, Nunavut.
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