Posts by Michael Allan McCrae:

National Geographic profiles proposed pipeline to carry oil sands crude to the B.C. coast

A proposed oil pipeline running from Alberta to the B.C. coast gets a critical look by National Geographic, a media company that has a potential reach of 280-million people each month. The article, Pipeline Through Paradise, looks at the coastline and the potential for mis-haps. The Enbridge Northern Gateway Pipelines Project is a proposed $5.5-billion pipeline running 657 kilometres from Bruderheim, Alberta to Kitimat, located on the central coast of British Columbia. The oil would then be sent overseas on tanker traffic.
Michael Allan McCrae | July 24, 2011 | 11:08 pm
exploration mining viewfinder

Lundin revises production downward after hitting poor grades at Neves Corvo

Neves Corvo, Ludin Mining's copper-zinc mine located in Portugal, will produce 4,000 tonnes less copper and 19,000 tonnes less of zinc in 2011. The cash cost of production at the mine will also climb from $1.40 to $1.65. Neves Corvo, which accounts for most of Lundin's copper output, was expected to produce 76,000 tonnes of copper and 25,000 tonnes of zinc. The outlook has now fallen to 72,000 tonnes of copper and 6,000 tonnes of zinc. However, zinc production at the company's Irish mine, Galmoy, was expected to rise from 17,000 tonnes to 28,000 tonnes.
Michael Allan McCrae | July 22, 2011 | 3:54 pm
Copper soars after Freeport McMoRan declares force majeure on Grasberg mine

Investors shrug off Freeport-McMoRan’s doubling of profits

Freeport-McMoRan reported a doubling of profits at $1.4 billion in the second quarter, but the blow-out results did not satisfy investors who shaved more than 1.5% off the stock amid record gold prices and a positive day on the markets. The company said labour action at its Grasberg mine – the globe's largest copper-gold mine – hurt output. During the eight-day strike in July, the company lost about 35 million pounds of copper production and 60 thousand ounces of gold production which could hurt its next set of results.
Michael Allan McCrae | July 21, 2011 | 4:21 pm

Newcrest gold production up 16% in June quarter

Newcrest Mining, Australia's largest gold mining company, reported on Thursday that gold production rose 16% to 700,124 ounces during its June quarter. Copper production was slightly higher than the previous quarter at 20,127 tonnes. The company said cash costs of A$542 per ounce were higher than the previous quarter due to higher site costs and lower copper byproduct credits per ounce.
Michael Allan McCrae | July 21, 2011 | 3:49 pm

Naked uranium

Uranium is often seen and many other forms, but few know the metal's actual appearance, says Steve Little, a researcher at the University of Nottingham. His university posted an educational video, a cleaver wrapper used to promote research at the university, showing what uranium actually looks like.
Michael Allan McCrae | July 18, 2011 | 8:52 pm
Red Truck Headlight Mining

Joy Global buys 41% of China-based International Mining Machinery Holdings for $538 million

Joy Global, one of the world's leading heavy-equipment mining companies, will take over China-Based International Mining Machinery Holdings Ltd. According to a statement released on Thursday, Joy Global will purchase 534.8 million shares of IMM for HKD 8.50 a share representing 41% of the company. Total cost will be USD$538 million. Subject to regulations, Joy Global will purchase the remaining shares of IMM at a later date.
Michael Allan McCrae | July 15, 2011 | 1:49 pm

Spending $2,400 a month to keep a truck running in a mine

BBC's Jeremy Clarkson, a car enthusiast who hosts the show Top Gear, ran a documentary on an underground mine in Kalgoorlie, Australia, and learned about the exceptional wear-and-tear exacted on the vehicles. "Here, 2,700 feet down there are machines that have never and will never see the light of day. In one mine there are 300 miles of roads and that means the only means to get about is in a car. They are used for getting men, machines and explosives to the face, and then getting the hell out," narrates Clarkson.
Michael Allan McCrae | July 15, 2011 | 10:24 am