PIC OF THE DAY: Merc long-hauler carries open pit dump truck |
- PIC OF THE DAY: Merc long-hauler carries open pit dump truck
- Report: EPA efforts to block Pebble date back six years
- Profile of Karina Briño, president of the Mining Association of BC
- Platinum jumps on deficit forecast
- One of the largest gold mines in Africa opens
- Three dead, at least 15 missing in Colombian illegal gold mine collapse
| PIC OF THE DAY: Merc long-hauler carries open pit dump truck Posted: 02 May 2014 04:45 PM PDT  |
| Report: EPA efforts to block Pebble date back six years Posted: 02 May 2014 04:30 PM PDT New internal memos of the Environmental Protection Agency revealed by the Washington Times this week shows the massive Pebble copper-gold project in Bristol Bay, Alaska, may have been the target of a co-ordinated blocking effort started as long ago as 2008. The paper reports EPA officials were not exactly acting as a neutral body and tried to kill the project long before any scientific review was conducted: "As you know I feel that both of these projects (Chuitna and Pebble) merit consideration of a 404C veto," EPA official Phillip North wrote in an email suggesting that the mining project's rejection be added to the agenda of an agency retreat in summer 2009. EPA wouldn't even announce the beginning of a scientific review of Pebble Mine until 2011, two years after Mr. North's email, but discussion of a pre-emptive veto dominated internal discussions inside the agency for much of the three years beforehand. The paper also indicates that top Washington official were made aware of the process inside the agency: A presentation prepared in 2010 for then-EPA Administrator Lisa P. Jackson made clear that a preemptive veto "had never been done before in the history" of the Clean Water Act and could risk litigation. The debate over whether its actions constitute a "pre-emptive veto"considering that the company behind the project, Northern Dynasty, has yet to submit an official proposal, has been raging for years. Last month the agency released its final assessment on how mining would impact the Bristol Bay area and concluded that the activities would put the salmon populations at risk, jeopardizing the livelihoods of tribal communities. "The assessment indicates that the proposed Pebble Mine would likely cause irreversible destruction of streams that support salmon and other important fish species, as well as extensive areas of wetlands, ponds and lakes," the EPA wrote. The US Geological Survey lists Northern Dynasty's deposit as the most extensive mineralized system in the world, according to the company. Drilling of 1,200 holes has determined that the deposit represents 5.94 billion tonnes of measured and indicated resources holding an estimated 55 billion pounds of copper and 67 million ounces of gold. In total $720 million has been invested in the project, though most of that came from Anglo American – the company which dropped out of the Pebble Partnership last year. Rio Tinto (LON, ASX:RIO) last month also pulled out by giving away to local charities its 19.1% stake in Northern Dynasty. Northern Dynasty planned to initiate federal and state permitting in 2014, but the EPA blocked the process in February. Under the Clean Water Act, the US Army Corps of Engineers usually issues permits to dredge or fill material into waterbodies. But under a rarely-used provision the EPA can revoke that right. During the subsequent steps which include public hearings and consultations with the Army Corps and the company, no permits can be granted. In February Northern Dynasty brought on a new CEO, Thomas Collier. For what he lacks in mining knowledge, Collier makes up for in political connections: The new CEO is a former chief of staff at the US Department of the Interior during the Clinton era. |
| Profile of Karina Briño, president of the Mining Association of BC Posted: 02 May 2014 03:49 PM PDT When the first generation of mines was built in British Columbia, the only "licence" a miner needed was to stake a claim. Later, mines would need environmental assessment certificates and federal Environmental Assessment Act approvals to get a mine permit. Today, mining companies also need a broader "social licence" to build a new mine, which includes getting First Nations on board. That may explain why the Mining Association of BC (MABC) chose someone with a background in social services rather than mining as their president in 2011. Karina Briño didn't study geology or even business, and her early career was not in mining, but in social work. Her degrees are in psychology and Spanish literature from the University of B.C. and University of Santiago. "My heart really is in eradicating poverty and dealing with social issues," she said. "I care about the environment and social issues as much as any of those people that sometimes are opposing mining projects because I think there is a tremendous contribution that this industry can make." Briño is not entirely without mining bona fides, however. She was born and raised in Chile, where mining is a major employer. "My grandfather worked in a coal mine in Chile, and I come from a very strong mining culture," she said. "[Because] I was born and raised in a mining country that is very much in tune with where the money comes from, I think I probably have a stronger mining culture than most people here in Vancouver." Briño was 14 when her parents moved to Canada. They spent a couple of years in Winnipeg before the harsh winters brought them to B.C. After earning her university degrees, she volunteered as a settlement worker in Vancouver, helping fellow Chilean immigrants adapt to their new country. Her community work eventually landed her a job with the Ministry of Social Services, where one of her jobs was helping people on income assistance get back into the workforce. She also worked with youth at risk. "I got very interested in public policy development," she said. She moved to Victoria, where she led the Labour Operations Branch for the Ministry of Social Services, and then worked for the Ministry of Children and Family Development. She was good at public policy development and worked in several ministries. In 2004, the Ministry of Energy and Mines was developing its mining plan, which had good technical information but lacked policies for engagement with communities and First Nations. Briño was seconded to Energy and Mines as director of policy to help develop a community engagement plan. "As a result of that work, I got to know the industry quite well," Briño said. One of the plan's directives was to increase employment for aboriginal people in mining, particularly youth. Briño's job included lobbying the federal government for funding for job training in northern B.C. She worked with Northwest Community College to develop new trades training programs designed to give First Nations in northern B.C. skills to work in the resource sectors. "I think our statistics now are about 6% aboriginal participation [in mining]," Briño said. Briño became the executive director of policy for the mines and minerals division of Energy and Mines in 2006, and later became executive director of regional operations. The job required travelling around B.C. to meet with mining inspectors. "It was in regional operations where I got to really understand and learn what happens on the ground," she said. "With that experience I also got to know a lot of the industry people." She went on to become assistant deputy minister of the mines and minerals division of Energy and Mines in 2010. In 2011, the MABC let her know it was looking for a new president and CEO. The organization had adopted the sustainable mining initiative developed by the Mining Association of Canada and was looking to implement stronger social licence performance measures for its members. It was Briño's accomplishments and connections in the Energy and Mines Ministry that got her the job as president and CEO. "What really appealed to the association and to me on the committee that was looking at hiring her was that she really had a very strong and compelling understanding about how the mine industry can benefit communities and the province at large," said MABC chairman Scott Broughton. "She was extremely well respected in her ministries and she had great connectivity to the government, too. That's proved to be highly beneficial to the association in respect to understanding how government works." When she saw the association was serious about implementing the sustainable mining initiative in B.C., Briño said, "I was completely interested in this." Mining is still very much a male-dominated industry, so it is unusual for a woman to head an association that represents mining companies. "This organization was founded in 1901," Briño said. "I'm the first woman to be the president. Women are still under-represented in the boardrooms." As president of MABC, Briño's job is to work with the organization's 50 members, the government and the public to ensure mining policies in B.C. are fair, transparent and understood. "But my biggest interest is ensuring that we, as a society, understand that this industry has a very significant contribution to make when it comes to some of the social issues that we're facing," she said. Briño's own son, who is 21, has had summer jobs working at B.C. mines. "He worked at Copper Mountain for a summer, and he worked at Mount Milligan last year." Briño said. "If I'm willing to let my child go work at a mine site, it's because I believe it's a pretty good place to be in." |
| Platinum jumps on deficit forecast Posted: 02 May 2014 01:11 PM PDT The price of platinum and sister metal palladium moved in opposite directions Friday after a closely-watched forecast on PGM metals was released. On the Comex division of the New York Mercantile Exchange, platinum futures for July delivery – the most active contract – in afternoon trade exchanged hands for $1,440.40 an ounce, up nearly $13 compared to Thursday's close, and close to the highs for the day. The price of platinum is forecast to average $1,457 an ounce in 2014, 2% down from the 2013 average of $1,487 an ounce according to the Thomson Reuters/GFMS Platinum & Palladium Survey 2014 released on Friday. GFMS said that a protracted strike in South Africa "has not fed through to noticeably higher prices thus far this year, but is expected to lead to increases in the second half-year – even if the strike comes to an end soon." On 22 January, the day before more than 70,000 South African workers went on strike at Anglo American Platinum (LON:AAL), Impala Platinumm (OTCMKTS:IMPUY) and Lonmin (LON:LMI) which together account for almost 50% of the world's production, platinum was trading at $1,450 an ounce. Including smaller producers, the African nation is responsible for 70% of global mined supply, with Russia making up a big chunk of the remainder. GFMS said there is a risk of "knee-jerk" falls when strike action ends, and some downward pressure from drifting gold prices in mid-year. Roughly 10,000 ounces of platinum production and 5,000 ounces of palladium are lost each day the strike drags on and total lost output now tally some 600,000 ounces with a further 300,000 ounces even after the strikes stop "as a result of absenteeism, underground 'safe-start' preparation, re-training and ramp-ups," according to the consultancy. The strike appeared close to being called off earlier this week after producers decided to take their latest improved offer directly to workers. But no breakthrough has been reported and the militant Amcu union has threatened to attack HR staff from Amplats sent to talk to workers about the offer. Workers have now collectively lost $650 million in wages since the labour actions began. The GFMS report said that projected total platinum losses are equivalent to seven weeks-worth of 2013 global demand, and will tilt the platinum market back into a deficit this year after a surplus in 2013 of 490,000 ounces. Another factor keeping platinum prices in check is increasing scrap supply. In 2013, supply from platinum autocatalyst scrap rose by 9% to just under 1 million ounces "reflecting healthy increases across all regions, following a year of notable declines in 2012." Autocatalyst demand fell by 1.2% to 2.91 million ounces in 2013. Palladium eased back on Friday with June futures slipping to $812.20 an ounce, down $2 on the day. GFMS believes palladium has bottomed out in 2014 and robust demand is expected to propel the price towards $930 before year-end. This year's average is forecast at $793 an ounce, a gain of 9% over the 2013 average of $725. Production of the metal, often used as substitute for platinum in catalytic converters, is even more concentrated than platinum, with South Africa and Russia controlling more than 80% of global supply. Palladium has also been influenced by the highly successful launch of two South African palladium ETFs which have accumulated holdings in excess of 400,000 ounces. Palladium losses as a result of the strike are equivalent to two weeks' global demand at 2013 rates and will keep palladium in a deficit in 2014 for the eighth consecutive year. GFMS also does not expect further shipments of palladium stock from Russia this year. |
| One of the largest gold mines in Africa opens Posted: 02 May 2014 01:07 PM PDT  Workers in Kibali gold mine. The Kibali gold mine officially opened in the Democratic Republic of Congo (DRC) today representing an investment of more than $2.5 billion by Randgold Resources (LSE: RRS) (NASDAQ: GOLD) and AngloGold Ashanti (NYSE: AU). Kibali will rank as one of the largest gold mines in Africa when in full production, expecting to produce an average of 600,000 ounces of gold per annum over the first twelve years of its life. Kibali is owned by Randgold and AngloGold, each with a 45% stake, and the DRC state gold mining company Société Miniere de Kilo-Moto. While still a work in progress as both an operating mine and a development project, Kibali produced 88,200 ounces of gold and made a profit of $68.3 million between September to December 2013. "The government now has an important opportunity to show the world that it is welcoming of gold mining by helping to create what can in a short time become one of the largest gold producers in the world and an engine of growth for this region and this country," said AngloGold Ashanti chief executive Srinivasan Venkatakrishnan. The Kibali gold mine is located in the northeast of DRC, 150 kilometres west of the Ugandan border town of Arua. DRC has been ramping up copper output in recent years and also produces almost half of the world's supply of tantalum. Congo's ongoing conflicts due to have been under international scrutiny. |
| Three dead, at least 15 missing in Colombian illegal gold mine collapse Posted: 02 May 2014 07:32 AM PDT
The accident occurred shortly before midnight Wednesday in a rural area near Santander de Quilichao, about 300 km southwest of Bogota, the capital. By the end of Thursday rescue workers had recovered the bodies of three dead and three injured, but they said there were about 15 others still missing, CNN in Spanish reported. The governor said illegal miners use machinery to open huge holes to extract gold, and one of the walls of a hole fell in. Police, troops, civil defence and the Red Cross were aiding in rescue efforts. Rescue workers are waiting for heavy machinery to remove enough mud to send in sniffer dogs, but warn there is a fair amount of dirt to be shifted before this is possible. Last week four miners were killed and 65 affected by poisonous gases in another illegal mine in the Colombian northwest. From the 14,000 gold mines operating in Colombia, it is believed that about 50% are illegal operations with some 4,000 miners working for gangs and terrorist groups. Image from NewsCast via YouTube |
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