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Latest Stories

Pebble Mine gets referendum results on Tuesday

Northern Dynasty's proposed Pebble Mine hears from local residents on Tuesday when the results of a referendum will be announced. Residents in southwest Alaska, the Lake and Peninsula Borough, are being asked to ban the granting of mine permits that could significantly impact salmon streams. While a successful referendum would be a set back to Pebble mine, the referendum results are not the last word. It is one of many decision points that the mine has to face. Regulatory bodies, the judiciary and other levels of government still have to weigh in.

How to mine 1,600 meters underwater

Nautilus Minerals (TSE:NUS), a Toronto-based miner seeking to extract minerals from the ocean floor, uploaded some multimedia showing how it will mine the sea floor. The company is exploring for copper, gold, silver and zinc in seafloor massive sulphide (SMS) deposits, equivalent to land-based volcanogenic massive sulphide deposits such as Kidd Creek in Canada. The company's main focus is Solwara 1 Project, located off Papua New Guinea in the western Pacific Ocean. The mineralised zone is about 1.3 km long and up to 200 m wide. It has been drilled up to depths of 19 m below the seafloor. Water depth is approximately 1600m.

Labour deal close at Highland Valley Copper Mine

The strike at Highland Valley Copper Mine in British Columbia could soon be over, local media is reporting. Kamloops This Week reported that a late-night bargaining session between Teck Resources and United Steelworkers has resulted in a tentative collective agreement. The mine's 1100 employees voted 99.5% in favour of a strike on Wednesday.

Minmetal Resources offers $1.3 billion for Anvil Mining

Minmetal Resources bought Anvil Mining for $1.3 billion, representing a 30% premium over Anvil Mining's average share price. The Anvil Board has unanimously approved the offer. Anvil's key asset is the Kinsevere mine, located in the Democratic Republic of Congo. Minmetal says its annual copper output will grow by 60,000 tonnes per year, an increase of 60%. The mine is expected to have about a 14 year life.

Low zinc and copper levels associated with miscarriages

Low levels of zinc and copper are associated with miscarriages in pregnant women, Digital Journal reports. Scientists at the University of Granada compared data from two groups of women — with one half having suffered miscarriages and the other half who had normal pregnancies — and found that lower levels of zinc and copper in the women who had miscarriages, suggesting a deficiency of one or both elements could be involved.

Rio Alto Mining suspends mining at La Arena due to work stoppage

Rio Alto Mining (CVE:RIO) said that an illegal work stoppage at La Arena Gold Oxide Mine forced it to suspend mining operations. The company's stock opened down 6.82% to $2.46. The company, issuing a statement on Thursday, says that it is in discussions with government representatives, community groups and others to resolve the issue.

Peru’s president signs mining law

President Ollanta Humala signed Peru's new mining law on Wednesday, which will raise about $1 billion a year. The money is to be directed to the poorest parts of the country and help build schools and infrastructure. Mining companies will now pay taxes based on their operating profits, ranging from 1% to 12%, rather than old regime where they paid 1% to 3% based on sales. There will also be a windfall profits tax ranging from 2% to 8.4% of a company's net profits.