Chamber of Mines News Briefs – October 22 - 24, 2013 [Note: News headlines are hyperlinked to their stories in this document.] NWT News...... 1 High levels of metals found on old Pine Point railbed ...... 1 Resource Development and Energy News ...... 2 Gahcho Kue mine approved by Ottawa ...... 2 Canada approves construction of sixth diamond mine ...... 3 Feds approve Gahcho Kue ...... 4 Mining slowdown hurts Northern economies ...... 5 We’ll advance Nunavut diamond project on our own, Peregrine says ...... 6 Drilling at Back River lifts Sabina ...... 6 Agnico delivers record gold production in third quarter ...... 7 Dominion Diamond Corp files application to extend Ekati mine ...... 8 MLAs to pore over mining legislation changes ...... 9 Agnico Eagle Q3 profit plunges to US$47.3M; mining revenue falls to US$444.3M ...... 11

NWT NEWS

High levels of metals found on old Pine Point railbed More research needed to understand possible health impacts Northern Journal - October 21, 2013 Meagan Wohlberg Environmental consultants take soil samples at a site adjacent to the defunct Pine Point mine railbed. Elevated levels of lead and zinc present in and around the old railbed from Hay River to the defunct Pine Point mine site could be cause for concern, according to federal scientists with the department of Aboriginal Affairs and Northern Development (AANDC). A recent study looking into the presence of metals and hydrocarbon contaminants along the historic rail line shows heightened levels of both lead and zinc at around 200 sites stringing the 70-km stretch, with some areas presenting levels far exceeding industrial guidelines. According to project manager Emma Pike, who works in AANDC’s contaminants and remediation division, the elevated levels raise concerns and warrant further research into possible health and environmental impacts next summer. “What we haven’t done yet is to look at what that means: is this metal bioavailable or is it kind of bound within the material? Is it a risk to people? We don’t know that yet. That will be the next stage,” she said. “It definitely is something that raised concern at the site, and therefore we’ll be putting in the proposal to do the third phase next summer.” Zinc has shown up as the primary concern in samples taken from the top 30 cm of soil, with an average level of over 2,700 parts per million (ppm) – eight times the industry standard of 360 ppm. Lead, too, exhibited an elevated presence in the area with a mean concentration of 570 ppm. Though just under the industry guide of 600 ppm, the average indicates many sites are above acceptable levels. Initial testing of water in ponds adjacent to the railbed, at seven river crossings and at several lakes showed generally “very good” surface water quality, Pike said.

Chamber News Briefs 1 “The metal levels were not elevated within those water bodies. We did find, however, that there were some elevated metal concentrations in the sediment immediately adjacent to the railbed.” Along with metals, the study also looked into the presence of polycyclic aromatic hydrocarbons (PAHs) along the rail bed. Those were primarily found to be a concern, albeit a small one, around old bridges, totaling about 25 cubic metres of contaminated soil. “Some of the old river crossings, the abutments that were used to support the bridges, used creosote- treated timber,” Pike said. “What we’re finding is very localized hydrocarbon impact around those abutments. So it’s a pretty minor issue, but one that’s on our radar.” Another smaller issue is that of lead-based paint on the old bridge across the Buffalo River, which Pike said would have to be considered in the final remediation plan. The rail line between Hay River and Pine Point operated for about 25 years when it was decommissioned in the mid-1990s following the mine’s closure in 1988. The infrastructure was removed and erosion control measures put in place by CN Rail, after which the land was relinquished to the federal government, which began looking into contaminants following recent interest in the railway expressed by mining companies eyeing up the Pine Point site. When initial testing revealed elevated levels of the metals, a more thorough assessment was launched. Scientists made a point of focusing on sites identified by the nearby communities or through historic documentation as particular areas of concern, such as places where train cars derailed or spilled, or where there were signs of issues, like ground staining or unusual features like stressed vegetation. Pike said the presence of contaminants along the railbed is likely the product of dust that had blown off cars during transport from the mine. “We anticipate that was the result of uncovered railcars leaving dust on the soil. It’s what we call ‘fugitive dust’; it would have just blown out of the railcars and landed on the railbed,” she said. “There’s likely dust impacts as you head away from the railbed, but it seems to be what you would expect from dust deposition – concentrated on the railbed and as you move away, you’ll find a lower and lower value.” Pike said the findings from next summer’s sampling will determine what course of remediative action the department will take with respect to the site. Results are expected sometime in 2015. “We would look at all options based on the risk level,” she said. “If the remediation is more along the lines of a risk management approach, where it’s perhaps not done in phases, then we might continue monitoring for a longer period of time. If the remediation is more along the lines of removing certain hotspots or certain areas of higher contamination, then it just might be a short-term monitoring situation until we know the risk is mitigated.”

RESOURCE DEVELOPMENT AND ENERGY NEWS

Gahcho Kue diamond mine approved by Ottawa CBC News – October 22, 2013 De Beers Canada and Mountain Province have announced that the federal government has approved their proposed Gahcho Kue Diamond Mine. The approval comes despite four First Nations calling on Aboriginal Affairs and Northern Development Minister Bernard Valcourt to order further review of the project. The aboriginal groups say almost all of the mitigation measures they recommended during review of the project were ignored.

Chamber News Briefs 2 Gahcho Kue is located 280 kilometres northeast of . It will be the ' fourth diamond mine. De Beers and Mountain Province say that almost 700 workers will be needed during the two years it will take to build the mine. Almost 400 will be needed during its estimated 11 years of operations. Gahcho Kue is expected to produce an average of 4.5 million carats annually.

Canada approves construction of sixth diamond mine Miningweekly.com – October 22, 2013 Henry Lazenby TORONTO (miningweekly.com) – Joint venture (JV) partners De Beers Canada and Mountain Province Diamonds on Tuesday celebrated the Canadian government’s approval of the development of the C$650-million to C$750-million Gahcho Kué diamond mine, in the Northwest Territories. Fifty-one per cent JV shareholder De Beers and 49% partner Mountain Province in a joint statement announced that the Minister of Aboriginal Affairs and Northern Development Canada, Bernard Valcourt, had approved development of the Gahcho Kué diamond mine as earlier recommended by the Mackenzie Valley Environmental Impact Review Board. The federal government approval now allows the Mackenzie Valley Land and Water Board to start processing the applications for the land use permit and water licence required to construct and operate the mine. Gahcho Kué, which is for ‘a place where big rabbits are found’, is located at Kennady Lake, 280 km north-east of Yellowknife, and 80 km east of De Beers’ existing Snap Lake mine, in the Northwest Territories. The diamond prospect is one of the largest new diamond projects under development globally. It would employ about 700 people during the two years of construction and close to 400 people during its operations phase. The project consists of a cluster of kimberlites, three of which have a probable mineral reserve of about 31.3-million tonnes, grading at 1.57 ct/t, containing about 49-million carats. The project would have an estimated production rate of three-million tonnes of ore a year and 4.5- million carats a year over its estimated 11-year life. ADVERSE IMPACTS The companies said that given the expected 42-days processing time for issuing the land use permit to enable pioneer work to start, as well as the impact of the winter ice road on logistics, the JV was currently reassessing the development plan to determine the optimal development schedule. The Mackenzie Valley Environmental Impact Review Board approved the proposed 4.5-million-carat-a- year diamond mine in July, subject to measures and follow-up programmes. The ‘Environmental Impact Review and Reasons for Decision’ report for the Gahcho Kué project, released on July 19, found that the project was likely to cause “significant adverse environmental impacts” and the panel set out measures required to mitigate such impacts. This included reducing the impacts of the mine site and winter access road on caribou and its habitat, as well as reducing the project’s impact on the cumulative potential effects on the caribou population. The panel called for follow-up programmes to address the impacts on water, fish, caribou, other wildlife and species at risk, as well as on socioeconomic indicators. The JV partners were reviewing the report to better understand the implications of the measures and follow-up programme as recommended by the panel.

Chamber News Briefs 3 The project entails dewatering portions of Kennady Lake to access the three openpits, then backfilling one openpit and portions of a second openpit with waste rock and processed waste material from the mill, before refilling Kennady Lake at the end of the mine life and allowing fish to repopulate the lake. The JV was busy updating the 2010 feasibility study and expected to announce the results of an optimisation study early in 2014. De Beers, a unit of Anglo American, already has two producing diamond mines in Canada, namely Snap Lake and Victor, in northern Ontario. In South Africa, the company also on Tuesday announced the start of construction of a new underground mine beneath its openpit Venetia mine, in the Limpopo province. The $2-billion investment will extend the life of Venetia beyond 2040 and replace the openpit as South Africa’s largest diamond mine.

Feds approve Gahcho Kue Potential fourth diamond mine for NWT expected to produce 4.5 million carats per year Yellowknifer – October 23, 2013 Candace Thomson The NWT is getting its fourth diamond mine. The proposed Gahcho Kue diamond mine, operated jointly by De Beers and publicly-traded Mountain Province Diamonds based out of Ontario, was approved Tuesday by Bernard Valcourt, minister of Aboriginal Affairs and Northern Development. "The minister's approval today is recognition of a very thorough, robust and long environmental review that means the mine can be constructed and operated in a safe manner," said Cathie Bolstad, De Beers' director of external and corporate affairs in Yellowknife. "We are on our way to having our third diamond mine in Canada and we're very excited." Bolstad said the next step will be getting a land use permit and water licence from the Mackenzie Valley Land and Water Board. The mining partners can then begin construction, which is expected to take two years. "We're working on the detailed engineering in association with the construction," Bolstad said. "And we're hoping for a smooth and efficient process." The mine will be located 280 km northeast of Yellowknife and is expected to produce an average of 4.5 million carats of diamonds per year over its projected 11-year mine life, according to a news release issued on Tuesday. De Beers estimated Gahcho Kue would contribute $39 billion to Canada's gross domestic product during construction and operation, with 80 per cent going to the NWT. During the construction phase it will employ 690 workers, and operations will require 372, with priority hiring for NWT residents as per a socio-economic agreement between De Beers and the GNWT. This approval comes despite discontent from First Nations groups who had concerns about the potential social, cultural and environmental impacts of the mine. These groups had called for the project to be sent back for consideration to work out these concerns, after it was approved by the Mackenzie Valley Environmental Impact Review Board in July. The Lutsel K'e Dene First Nation, Deninu Kue First Nation, Tlicho Government and the Yellowknives Dene First Nation asked for Valcourt to refer outstanding issues back to the review board for further review.

Chamber News Briefs 4 Tlicho Grand Chief Eddie Erasmus said he was surprised that the mine gained approval, but did not want to comment further before press time. Leaders from the other three groups could not be reached for comment before press time. One concern is the potential impact of winter roads on the barrenground caribou. One of the three conditions of the project's approval by the review board was that De Beers minimize impacts to the caribou and the area around the mine site, and develop a caribou protection plan prior to construction. "I think we are close to and understand the concerns of aboriginal communities," said Bolstad. "We've planned the project to address those concerns. We're confident, and it was good to see the minister was also confident." Mountain Province Diamonds opened yesterday selling at $5.05 per share, then spiked to $5.44 shortly after the news release on the mine's approval came out. The company closed the day back at $5.05, according to the company's website. De Beers is not a publicly traded company.

Mining slowdown hurts Northern economies NWT to come out with ‘weakest’ regional economy in Canada 2013 Northern Journal - October 21, 2013 Meagan Wohlberg GDP in the NWT is expected to bounce back next year as new mines, like Fortune Minerals’ NICO project, begin production. Lower commodity prices for minerals will hold back the previously “robust” economic growth in Canada’s North in 2013, but stronger growth is expected next year, according to a new report by the Conference Board of Canada released last Wednesday. The autumn “Territorial Outlook” report, released at Canada’s North Summit in Whitehorse, forecasts that gross domestic products in the three territories will grow by a menial 0.5 per cent this year. “A once-thriving mining sector is now re-evaluating development and exploration plans due to lower commodity prices and tight capital markets, which makes it difficult for mining companies to obtain financing,” Glen Hodgson, senior vice-president and chief economist with the Conference Board, said in a press release. Real GDP is expected to bounce back next year, however, with a 3.2 per cent increase in 2014 and 4.2 per cent boost in 2015, based on a “favourable global demand for metals” that will highlight Canada and, particularly, the North over the next decade. “The outlook beyond this year is more promising. Economic growth in the territories over the next few years is expected to easily outpace growth in most other Canadian regions,” Hodgson said. The Northwest Territories will come out with the weakest regional economy in Canada this year, according to the report, with no real GDP growth, but those shortfalls are expected to be short-lived as new mines begin production. Growth is expected to rise by 1.3 per cent in 2014 and 2.5 per cent in 2015. Yukon’s mining industry saw both production and staffing cutbacks, with Victoria Gold delaying construction of its Eagle mine by a year. Yukon Zinc and Alexco Resource also both announced they were cutting production and laying off employees in the summer. The board predicts growth in the Yukon will be limited to 0.6 per cent in 2013, rising to 5.7 per cent next year. Nunavut is facing the largest decline in spending on mineral exploration this year, which the board blames on lower production at the Meadowbank mine, limiting the territory’s growth to 1.6 per cent

Chamber News Briefs 5 this year. Next year, however, GDP growth is predicted to reach 3.7 per cent with the development of Baffinland’s Mary River iron ore project.

We’ll advance Nunavut diamond project on our own, Peregrine says Peregrine to fast-track analysis of Chidliak bulk sample Nunatsiaq News - October 23, 2013

Peregrine Diamonds Ltd. said Oct. 23 that following a decision by De Beers Canada Ltd. to reject a potential joint venture with them on the Chidliak diamond project near Iqaluit, they will advance the project on their own. In a news release, Peregrine said they plan to move ahead with Chidliak, located about 120 kilometres northeast of Iqaluit, on “a 100 per cent ownership basis.” “Chidliak has benefitted greatly from De Beers’ involvement over the last year and we are cognizant of their reasons not to proceed given the challenging mining market our industry is currently experiencing,” Peregrine said. On Oct. 11, Peregrine said De Beers — under the terms of a deal struck between the two companies Sept. 5, 2012 — gave them verbal notification that De Beers will not enter a joint-venture agreement with Peregrine. Peregrine said they received written notice from De Beers on Oct. 22 and will meet with De Beers to discuss the handover of technical data. Under a previous agreement, De Beers will pay the cost of processing the first 250 tonnes of ore extracted in a bulk sample earlier this year from the promising CH-6 kimberlite pipe. Peregrine will pay the cost of processing an additional 250 tonnes, and De Beers will do the processing. The mineral concentrate produced by that processing work will be sent to the Saskatchewan Research Council to recover its diamond content. After that, Peregrine will make an initial announcement on the bulk sample’s diamond content in January, 2014, under a fast-tracked schedule. They’ll use that information to help plan their next steps, including their 2014 and 2015 exploration programs. “The results from CH-6 and new exploration and conceptual mining data generated by De Beers will be utilized to formulate optimum exploration and sampling programs for 2014 and 2015,” Peregrine said. De Beers is now controlled by the London-based mining giant Anglo-America PLC, which controls 85 per cent of the company. The other 15 per cent is owned by the government of Botswana. On Oct. 22, AAND minister Bernard Valcourt approved a joint-venture project that De Beers has stuck with — the Gahcho Kue diamond mine in the Northwest Territories, a joint venture between De Beers and Mountain Province Diamonds Inc.

Drilling at Back River lifts Sabina Northern Miner – October 23, 2013 Shares of Sabina Gold & Silver (TSX: SBB) were up 7% in mid-day trading in Toronto after the Nunavut- focused junior released more infill drill results from the Umwelt deposit, part of its 100%-owned Back River project.

Chamber News Briefs 6 The Umwelt deposit is sequenced to be the first open pit and the first underground deposit to be mined on the company’s Goose property, about 75 km from tidewater at the Bathurst inlet in Nunavut. Highlights of the most recent assays from Sabina’s 2013 drill program include 21.96 grams gold per tonne over 19.72 metres and 17.30 grams gold over 25.60 metres. The results of the drill program this year will be folded into updated remodeling and resource estimates that will be completed early next year. The drill program this year concentrated on converting and upgrading resources in the proposed open pit over a strike length of 300 metres and to a depth of 305 metres and the company believes that Umwelt has "significant" potential at depth. The deposit’s current indicated resource continues down 1,350 metres to a depth greater than 600 metres below surface. Currently Back River’s measured and indicated resources stand at 23.65 million tonnes grading 6 grams gold for 4.6 million contained oz. with inferred resources adding 7.28 million tonnes grading 8 grams gold for 1.88 million contained oz. The mine plan used in the prefeasibility study completed earlier this month on Back River used less than 50% of the project's 2012 mineral resources and did not reference any of the mineralization identified by drilling completed in 2013, the company says. According to the PFS, Back River’s 5,000-tonne-per-day mill would process 14.9 million tonnes of material over its lifetime at an average grade of 5.7 grams gold per tonne using open-pit and underground methods, which would recover 2.4 million oz. gold over 8.4 years. The project would be built over two years at an initial capital cost of $605 million with an estimated payback of 3.3 years. The PFS projected an after-tax internal rate of return of 16.5% and an after-tax net present value at a 5% discount rate of $290 million, producing gold at cash costs including royalties of about $685 per oz. The company expects to end the year with $60 million in cash and equivalents. Over the last 52 weeks Sabina has traded within a range of 91¢ and $3.11 and has about 189 million shares outstanding.

Agnico delivers record gold production in third quarter Financial Post – October 23, 2013 Peter Koven TORONTO • Agnico Eagle Mines Ltd. kicked off the third-quarter gold earnings season with a strong result that sets a positive tone for the rest of the sector. The Toronto-based miner’s adjusted earnings came in at US$60.5-million, or US35¢ a share, which was well above the highest analyst estimates. Agnico also boosted its full-year production guidance and announced deeper cost cuts. “We had some pretty solid production across the board,” chief executive Sean Boyd said in an interview, adding the company has said for months that the second half of 2013 would be stronger than the first half. The results show gold companies can thrive in a weaker gold price environment, a major concern for investors over the past several months. Agnico’s gold production in the quarter reached a record 315,828 ounces, driven by a strong result from the Meadowbank mine in Nunavut, which opened in 2010. That mine performed poorly in its first couple of years of operation, but has turned a corner.

Chamber News Briefs 7 “Even we were pleasantly surprised at Meadowbank, [though] we knew were going into parts of the deposit that had shown in the prior year were higher grade,” Mr. Boyd said. Due to weak gold prices, investors are currently fixated on how companies are managing their costs. Agnico appears to be doing a solid job. It reported total cash costs of US$591 an ounce in Q3, compared to US$785 in the second quarter (the Q2 figure was unusually high because of a maintenance shutdown at the Kittila mine in Finland). For the full year, the company now expects cash costs US$690 an ounce, well below its prior estimate of US$735 to US$785. In July, Agnico said it was reducing costs and spending by roughly US$50-million for the remainder of 2013, and by more than US$200-million in 2014. The company announced Wednesday it has identified US$40-million of additional savings next year related to labour, general and administrative costs. It expects to find further savings. These measures became necessary because of a sharp decline in precious metal prices this year, which has crimped margins across the sector. To put it in perspective, Agnico said its cash flow so far in 2013 is US$400-million lower than would be expected based on prices at the start of the year. Its realized gold price in the third quarter was US$1,333 an ounce, down from US$1,695 in the same quarter a year ago. Investors will be pleased if the rest of the gold sector follows Agnico’s lead and releases solid third quarter results. The second quarter was marred by billions of dollars of writedowns due to falling gold prices, but this is expected to be a much cleaner quarter. Agnico was one of the few large gold miners that did not take a major impairment charge last quarter.

Dominion Diamond Corp files application to extend Ekati mine Miningweekly.com – October 23, 2013 Henry Lazenby TORONTO (miningweekly.com) – Canadian miner Dominion Diamond Corp on Wednesday said it had filed an application with the Wek'éezhii Land and Water Board (WLWB) requesting a new land use permit and a Class A water licence to extend the Ekati diamond mine, in the Northwest Territories, to include the Jay and Cardinal kimberlite pipes. The application, which comprised a detailed project report for the Jay-Cardinal project, represented the first stage in the regulatory approval process, for which detailed study work started immediately after acquiring the Ekati mine from BHP Billiton in April. The Jay-Cardinal project entails developing the largest diamondiferous resource in North America, and is the cornerstone of Dominion’s strategy for building a long-term, sustainable Canadian diamonds business, the company said. At the Jay pipe, drilling to date had established 78-million carats of indicated resource and 13-million carats of inferred resource, and more work at Jay during the coming winter is designed to enable Dominion to develop an openpit reserve to support development of the project. In itself, the Jay-Cardinal project has the potential to extend the operating life of the Ekati mine by about 10 to 20 years beyond the currently scheduled closure in 2019. "The scale and robust nature of the Jay-Cardinal project has the potential to secure the future not just of the Ekati diamond mine, but of the Northwest Territories diamond industry,” chairperson and CEO Robert Gannicott said. Dominion said the project schedule expected environmental assessment approval before the end of 2015, after which construction would start, leading to the planned release of diamond-bearing kimberlite to the process plant by 2019.

Chamber News Briefs 8 The Jay and Cardinal kimberlite pipes are located in Lac du Sauvage, in the south-eastern portion of the Ekati mine property, about 25 km from the main facilities and about 7 km to the north-east of the company's Misery mining area. The two pipes are located in the Buffer Zone Joint Venture, in which the company has a 58.8% controlling interest. Mining the Jay and Cardinal kimberlite pipes would require two freshwater diversions around an area within Lac du Sauvage. The water level would be drawn down to a level that exposes the two kimberlite pipes for openpit mining; underground mining is also planned. Diamond-bearing kimberlite would be trucked to the existing Ekati process plant using the existing Misery haul road. Processed kimberlite tailings would be deposited into mined-out openpits at the Ekati site, thus avoiding expanding or constructing new deposition areas. Dominion noted that an area at the outlet of Lac du Sauvage that was traditionally used by local Aboriginal groups would not be disturbed by the project. The existing Ekati mine environmental monitoring, management and mitigation programmes could all be expanded to incorporate the activities proposed for the Jay-Cardinal project. The current Canadian National Instrument 43-101-compliant resource estimate for the Jay kimberlite pipe included 36.2-million tonnes of indicated resource at 2.2 ct/t and 9.5-million tonnes of inferred resources at 1.4 ct/t. The pipe is believed to continue at depth. The company estimated the rough diamond price for the Jay diamonds to be about $74/ct, as at December 31, 2012, assuming the current process plant recovery parameters that use a 1.2 mm slot screen cutoff resulting in 85% of the diamonds being recovered. Follow-up delineation drilling programmes were planned at both the Jay and Cardinal kimberlite pipes during the coming winter. Dominion said it had already started the initial work on a prefeasibility report for development, which it aimed to complete during 2014. ANOTHER EXPANSION Dominion had also in September filed an application with the WLWB requesting a land use permit and water licence to enable it to start mining the Lynx kimberlite pipe at the Ekati mine, representing an extension of the Misery operations, and requiring little new infrastructure. Developing the Lynx project would entail draining a small lake, as is customary for the kimberlite pipes that have been mined at the Ekati mine, and developing an openpit mine with a short access road. All other necessary facilities, such as the process plant and camp, are already present, and it is expected that the instruments of environmental management and monitoring currently in use at the Ekati mine would be expanded to include all aspects of the Lynx project. Based on the scope of the proposed Lynx project, as well as the fact that the proposed project activities have been previously assessed, it was expected that the necessary project approvals would be completed in a few months. The Lynx kimberlite pipe is estimated to have 1.3-million tonnes of indicated resource at 0.8 ct/t and 100 000 t of inferred resource at 0.8 ct/t, on a 100% basis as at December 31, 2012. The company had modelled the rough diamond price for the Lynx diamonds at about $257/ct.

MLAs to pore over mining legislation changes Whitehorse Star – October 23, 2013 Ainslie Cruickshank The Yukon government will bring forward amendments to its mining legislation during the fall sitting of the legislature, which will begin Oct. 31.

Chamber News Briefs 9 The amendments, ordered by the Yukon Court of Appeal, will address class one exploration activities, Premier Darrell Pasloski said during a pre-sitting interview Tuesday. But they will not address consultation requirements around staking. The territory’s appeal court ruled last December that the Ross River Dena Council must be consulted before a mining claim is staked in its traditional territory. Ross River launched a legal suit challenging the existing mining rules in 2010. The government appealed the case to the Supreme Court of Canada, which refused to hear the case, upholding the lower court’s decision. The government is now obligated to make amendments to its legislation enforcing the court’s ruling in the Dena Council’s traditional territory by Dec. 27. Elaine Schiman, the director of cabinet communications, said today work is ongoing on the amendments addressing the consultation requirements around staking, and the government hopes to provide an update soon. Ross River Chief Brian Ladue has not returned calls from the Star for comment on the situation. Pasloski confirmed the amendments addressing class one exploration activities will be brought forward within the first five sitting days of the sitting. For legislation to be passed before the end of the sitting, it must be tabled in the first five days. Traditionally, legislation comprises the major focus of the fall sitting. Pasloski confirmed a number of amendments will be brought forward, although he was tight-lipped on details. He did say the audited 2012-2013 fiscal year public accounts will be tabled on the first day of the sitting, and last week the government announced ministerial expenses will be released as well. Heading into the sitting, the official Opposition will prioritize the economy, NDP Leader Liz Hanson said during an interview this week. “And not the economy from the boom and bust sort of perspective of the Yukon Party, which has been pretty emphatic about their reliance on the non-renewable resource sector as the economic driver of this territory,” she said. “We’re not in an economic bubble here, even though we’re cushioned to a large extent by federal resources, and we need to be building a diversified, resilient economy, that builds on the strengths in this territory.” The party will also continue to push the government on issues such as the need for a comprehensive housing strategy, lobbyist legislation, improved management of capital projects and a resolution to the Peel watershed land use plan debacle, which is moving into its eighth year. Mismanagement of capital projects will also continue to be a priority for the Liberal party, interim leader Sandy Silver told the Star late last week. “The mess that is F.H. Collins (Secondary School) is a perfect example.” The government refused to answer questions about the project during the spring sitting, he noted, and information revealed through access to information requests has raised even more queries. “We’re not done grilling them on their ability to manage these capital projects,” said the Klondike MLA. Silver is also interested to see the amendments to the mining legislation, and keen to question the government on who it consulted during the decision-making process. “I firmly believe if we had big C consultation with proponents, First Nations, the whole gamut, we would, well we wouldn’t have been in this position ....”

Chamber News Briefs 10 Other priorities for the third party heading into the fall session include a renewed push for whistle blower legislation to protect government employees, and the territory’s energy future. “I want to see some long-term solutions based on renewable resources, and I think we’ve barely begun to scratch the surface on that conversation,” Silver said. For the government, drafting legislation regarding consultation around staking in Ross River’s traditional territory will continue to be an important focus through to the court’s Dec. 27 deadline. So will a continued push to grow the Yukon’s economy, and, as the premier put it, “create wealth and prosperity in the Yukon by encouraging private sector investment.” Pasloski highlighted population and GDP growth in the territory over the past decade. The population has risen by 22 per cent, and the GDP has increased each year, he noted. The number of jobs in the territory has also grown from close to the 17,000 mark to more than 22,000. “In the end, when you increase the population and increase the number of people working here, you have more businesses, more people who are paying taxes, and that really is what allows us to pay for all of those programs and services that people need like health care, like education, like roads, all of these things,” he said. The fall sitting is expected to run until Dec. 19, assuming the house leaders opt for the traditional seven- week fall sitting length. The Yukon Party won its third straight election two years ago this month.

Agnico Eagle Q3 profit plunges to US$47.3M; mining revenue falls to US$444.3M THE CANADIAN PRESS - OCTOBER 23, 2013 TORONTO - Agnico Eagle Mines Limited (TSX:AEM) has reported a big drop in third-quarter net profit, citing among other things lower metals prices that have affected earnings throughout the year. The Toronto-based miner says net income for the three months ended Sept. 30 was US$47.3 million or 27 cents per share, down from US$106.3 million or 62 cents per share in the same 2012 period. Revenue from mining operations declined to US$444.3 million from $535.8 million. Despite the year-over-year decline in profit, the company said it enjoyed strong operational performance at its mines, which led to record quarterly gold production. One of the main contributors was the Meadowbank open-pit gold mine in Nunavut, which saw record throughput, better than expected gold grades and higher mill recoveries, it said. "On the back of strong operating performance from our Meadowbank mine in the third quarter, and positive contributions from our other mines, we are pleased to announce record quarterly gold production and an increase in our 2013 production forecast with an associated reduction in the total cash cost estimate," president and CEO Sean Boyd said in the company's earnings release. "Further cost-reduction initiatives are being incorporated in our 2014 budget process and will be reflected in our year-end financial results and three-year forecast, scheduled for release this coming February," he added. Agnico Eagle is a gold producer with operations in Canada, Finland and Mexico, with exploration or development activities or both in those three countries and in the United States.

Chamber News Briefs 11