The Mining Industry and the Social Stakes of Development in the Arctic
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Mining in Nunavut ‐ Getting Your Share of Major Developments ‐
Mining in Nunavut ‐ Getting Your Share of Major Developments ‐ Presentation To: Nunavut Trade Show By: Tom Hoefer – September 27, 2011 Thank you Mr. Chair and thank you organizers for inviting me to your meeting. I also want to thank you for all the new support we have received as we opened our new office here in May. I hope you are all aware that we have an office in the Brown building, and that our new General Manager is Elizabeth Kingston. In case you haven’t met her, I’d ask Liz to stand up and identify herself to you, and you can touch base with her in future. We also have a booth here that we’ll be manning at various times, where you can meet Liz and me. 1 Key Messages • Where industry is today • Where we hope to be going • Variety of opportunities available • How you can help 2 Let me very quickly give you an overview of what I will speak to in my presentation today. 2 Gold Price 1,600 1,400 GOLD 1,200 Market conditions 1,000 800 US$/ounce 600 400 200 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD Iron Ore Price Zinc Price $200 $3,500 $180 IRON $3,000 ZINC $160 $2,500 $140 $120 $2,000 $100 $1,500 US$/dmt US$/dmt $80 $1,000 $60 $500 $40 $20 $0 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD Silver Price Lead Price $40 SILVER $3,000 LEAD $35 $2,500 $30 $2,000 $25 $1,500 $20 US$/mt $1,000 US$/ounce $15 $10 $500 $5 $0 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD YTD Uranium Price $120 URANIUM DIAMONDS $100 $80 $60 US$/pound $40 $20 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD 3 Courtesy Aboriginal Affairs & Northern Development, Sept 2011 These commodity price charts have been one of the major drivers behind mining investment in Nunavut. -
Nanisivik – Canada’S First High Arctic Mine
INUIT ENCOUNTERS WITH COLONIAL CAPITAL: NANISIVIK – CANADA’S FIRST HIGH ARCTIC MINE by Tee Wern Lim B.Com. (Hons)., The University of Otago, 2006 B.A., The University of Otago, 2008 A THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ARTS in THE FACULTY OF GRADUATE STUDIES (Resource Management and Environmental Studies) THE UNIVERSITY OF BRITISH COLUMBIA (Vancouver) January 2013 © Tee Wern Lim, 2013 Abstract Mineral development has a long history of occurring in the territory of Indigenous communities. In Canada’s North, mineral exploration and mine development has become the most significant economic development strategy for Nunavut, with unprecedented levels of investment taking place today. However, broader and long-term implications of mineral development, and relevant historical experiences, are not well understood or documented. This thesis investigates a historically significant case: Canada’s first high Arctic mine, the Nanisivik lead-zinc mine, which operated near the Inuit community of Arctic Bay from 1976- 2002. Across two papers, this thesis focuses on the mine’s development in the early 1970s, and closure in the 2000s. Through a Marxian analysis utilizing the constructs of primitive accumulation and modes of production, chapter 2 outlines non-renewable resource-based industrial capitalism (exemplified by Nanisivik) as a distinct and severe structure of dispossession. This is contrasted with prior periods of similarly colonial but merchant capitalist resource extraction, namely whaling and the fur trade. I explain how the State and capital combined to impose capitalist relations of production on a predominantly noncapitalist Inuit social formation. Aspects of structural resistance to this imposition are also discussed. -
The Impact of Resource Extraction on Inuit Women and Families in Qamani'tuaq, Nunavut Territory
THE UNIVERSITY OF BRITISH COLUMBIA School of Social Work The Impact of Resource A Extraction on Inuit Women quantitative assessment and Families in Qamani’tuaq, Nunavut Territory A Report for the Canadian Women’s Foundation January, 2016 Pauktuutit Inuit Women of Canada School of Social Work, University of British Columbia Rebecca Kudloo, President Pauktuutit Inuit Women of Canada Prepared by: Karina Czyzewski and Frank Tester Nadia Aaruaq University of British Columbia, School of Social Work Qamani’tuaq, Nunavut Territory With support from: Sylvie Blangy Canadian Institutes of Health Research Centre nationale de la recherche scientifique (CIHR) (Montpellier, France) Research for this report was funded by grants from: The Canadian Women's Foundation ArcticNet Non-medical Research Account, School of Social Work, UBC i IN CELEBRATION OF NELLIE QIYUARYUK November 28, 1954 – November 5, 2014 EXECUTIVE SUMMARY This research report is the second of two documents dealing with the social impacts of mining activity near Qamani’tuaq (Baker Lake) on Inuit women and families in the community. The first report (March 2014) was based on interviews and qualitative data. This report deals with results of a questionnaire, with content developed in 2013 by Inuit women of Qamani’tuaq in the course of a week-long workshop. The questionnaire was completed by 62 women, aged 19 years and older. The data deals with their experience, perceptions and feelings. While social impact research typically focuses on statistical indicators (rates at which services are engaged, facilities used, employment rates, training received, health statistics, etc.), there are considerable shortcomings to this approach. The quality of life experience is important. -
Morumbi Resources Inc. Ni 43-101 Technical Report On
MORUMBI RESOURCES INC. NI 43-101 TECHNICAL REPORT ON THE EL MOCHITO ZINC-LEAD-SILVER MINE, HONDURAS Report Date: September 9, 2016 Effective Date: December 31, 2015 Report By: Bogdan Damjanović, P.Eng. B. Terrence Hennessey, P.Geo. Christopher R. Lattanzi, P.Eng. David Makepeace, M.Eng., P.Eng. Jane Spooner, P.Geo. 900 - 390 BAY STREET, TORONTO ONTARIO, CANADA M5H 2Y2 Telephone +1 416 362 5135 Fax +1 416 362 5763 Page Table of Contents 1.0 SUMMARY ................................................................................................................... 1 1.1 RECOMMENDATIONS ............................................................................................ 3 2.0 INTRODUCTION......................................................................................................... 5 2.1 TERMS OF REFERENCE ......................................................................................... 5 2.2 INFORMATION SOURCES ..................................................................................... 5 2.3 QUALIFIED PERSONS, SITE VISITS, AND AREAS OF RESPONSIBILITY .................................................................................................... 5 2.4 UNITS AND ABBREVIATIONS .............................................................................. 6 3.0 RELIANCE ON OTHER EXPERTS.......................................................................... 7 4.0 PROPERTY DESCRIPTION AND LOCATION ..................................................... 8 4.1 ROYALTIES AND TAXES .................................................................................... -
Social and Economic Considerations for the Arctic Marine Shipping Assessment
Social and Economic Considerations for the Arctic Marine Shipping Assessment Submitted by: Integrated Environments Ltd. Ste.110, 2509 Dieppe Ave SW Calgary, AB T3E 7J9 March 31, 2008 Social and Economic Considerations for AMSA Social and Economic Considerations for AMSA Table of Contents 1 RESEARCH FOCUS.....................................................................................................................................3 1.1 Project Purpose:............................................................................................................................3 1.2 Research Questions: .....................................................................................................................3 1.3 Methods:.......................................................................................................................................4 1.4 Links: .............................................................................................................................................4 2 FACTORS OF SOCIAL AND ECONOMIC CHANGE RELATED TO INCREASED ARCTIC MARINE SHIPPING IN CANADA:.................................................................................................................................................5 2.1 Resource Development and the Economy: ..................................................................................5 2.1.1 Mining ...................................................................................................................................5 2.1.2 Oil and Gas............................................................................................................................6 -
Prospects for Mining in British Columbia
Prospects for Mining in British Columbia A REPORT FOR THE BRITISH COLUMBIA BUSINESS COUNCIL IN SUPPORT OF THE OPPORTUNITY 2020 PROJECT SEPTEMBER 2009 By : Michael R. J. McPhie, M.Sc., QEP Managing Director Natural Resource and Infrastructure Projects Sponsored by HB Global Advisors Corp. • Montreal Toronto Vancouver Calgary Ottawa Paris Singapore • heenanblaikie.com The opinions expressed in this document are those of the author and do not necessarily reflect those of the Business Council of British Columbia. Permission to use or reproduce this report is granted for personal or classroom use without fee and without formal request provided that it is properly cited. Copies may not be made or distributed for profit or commercial advantage. TABLE OF CONTENTS Acknowledgments Part 1: Background 1 Part 2: Overview of the Sector in 2009 3 Part 3: Global Drivers for the Future 10 3.1 Commodities 10 3.1.1 Copper 10 3.1.2 Coal 13 3.1.3 Molybdenum 14 3.1.4 Zinc 14 3.1.5 Aggregates 16 3.2 Mergers, Acquisitions and Access to Credit 16 3.3 Investment Attractiveness 17 3.4 New Discoveries and Development 3.5 Industry’s Ability to Respond to Increasing Societal Expectations for Performance 20 3.6 Role of Indigenous/Aboriginal People in Resource Development 22 Part 4: Prospects for Growth to 2020 23 4.1 Low Growth Scenario 24 4.2 Strong Growth Scenario 26 4.3 Steps to Maximize the Growth Potential of BC’s Mineral Exploration and Mining Sector 28 Part 5: Conclusions 34 References 35 Appendix A: Operating Mines of British Columbia in 2009 Appendix B: List -
Zinc Producer
A PURE PLAY ZINC PRODUCER PROFITABILITY GROWTH OPPORTUNITY March 2018 Production Ramp Up 2018 EBITDA Guidance 2018 Free Cash Flow 2018 ZnEq Production Increase Guidance Guidance (Since Jan. 2017) ($US) ($US) (lbs) 81% 32-40M 14-20M 93-109M Production began at the El Mochito mine in 1948 and has been ongoing for PUERTO CORTÉS SAN PEDRO SULA 70 years continuously. Ascendant is a Toronto-based mining company focused on its EL MOCHITO MINE 100%-owned producing El Mochito zinc, silver and lead mine in west- central Honduras, which has been in production since 1948. After TEGUCIGALPA acquiring the mine in December 2016, Ascendant implemented a rigorous optimization program aimed at restoring the historic potential of the El Mochito mine. In 2017, the Company successfully completed the operational turnaround it set out to achieve with sustained production at record levels and profitability restored. The Company now remains focused on cost reduction and further operational improvements to drive robust free cash flow in 2018 and beyond. Ascendant is also focused on expanding and upgrading known resources through extensive exploration work for near-term growth. With a significant land package of 11,000 hectares and an abundance of historical data there are several regional targets providing longer term exploration upside which could lead to further resource growth. The Company is also engaged in the evaluation of producing and development stage mineral resource opportunities, on an ongoing basis. The Company’s common shares are principally listed on the Toronto Stock Exchange under the symbol “ASND”. www.ascendantresources.com El Mochito Mine - Zinc, Lead, Silver ASND 100% owned underground Zn/Pb/Ag Significant Reserve and Resource mine in continual operation since 1948. -
Exploration Overview 2009
2373_01_00_Layout 1 07/01/10 9:17 PM Page 1 2373_01_00_Layout 1 07/01/10 9:29 PM Page 2 (Above) Qikiqtarjuaq, August 2009 COURTESY OF GN-EDT Contents: Acknowledgements Land Tenure in Nunavut........................................................................................................3 The 2009 Exploration Overview Indian and Northern Affairs Canada....................................................................................4 was written by Karen Costello (INAC), Andrew Fagan Government of Nunavut........................................................................................................6 (consultant) and Linda Ham (INAC) with contributions from Nunavut Tunngavik Inc. ........................................................................................................8 Don James (CNGO), Canada-Nunavut Geoscience Office ...................................................................................10 Keith Morrison (NTI) and Eric Prosh (GN). Summary of 2009 Exploration Activities Front cover photo: Kitikmeot Region .........................................................................................................20 Installation of power plants, Kivalliq Region .............................................................................................................41 Meadowbank Mine COURTESY OF AGNICO-EAGLE MINES LIMITED Qikiqtaaluk/Baffin Region...........................................................................................61 Back cover photo: Index .....................................................................................................................................75 -
Synopsis of the Polaris Zn-Pb District, Canadian Arctic
SYNOPSIS OF THE POLARIS ZN-P B DISTRICT , C ANADIAN ARCTIC ISLANDS , N UNAVUT KEITH DEWING 1, R OBERT J. S HARP 2 , AND ELIZABETH TURNER 3 1. Geological Survey of Canada, 3303-33rd Street NW, Calgary, Alberta T2L 2A7 2. Trans Polar Geological, 60 Hawkmount Heights NW, Calgar,y Alberta T3G 3S5 3. Department of Earth Science, Laurentian University, Sudbury, Ontario, P3E 2C6 Corresponding author’s email: [email protected] Abstract The Polaris Mine was a Mississippi Valley-type (MVT) deposit hosted in dolomitized Middle Ordovician lime - stone. Total production was 20.1 Mt at 13.4% Zn and 3.6% Pb. There are about 80 showings in the district, which stretches from Somerset Island to the Grinnell Peninsula. There are two deposit types in the Polaris District: 1) struc - turally controlled, carbonate-hosted Zn-Pb-Fe deposits typical of MVT deposits, and 2) structurally and stratigraphi - cally controlled, carbonate-hosted Cu deposits enriched by later supergene removal of Fe and S. Mineralization is paragenetically simple, with sphalerite and galena as the ore minerals, and with dolomite and mar - casite as the main gangue minerals. The deposits formed from brines at about 90 to 100°C. The age of the mineraliza - tion is constrained to post-Late Devonian folding and may be associated with the last stages of the Ellesmerian Orogeny or the opening of the Sverdrup Basin. Copper-rich mineralization is known from four showings, is associated with zinc- lead mineralization and is confined to a single interval in the Silurian. The metallogenic model for Polaris invokes a source of metal ions within the stratigraphic column since strontium shows no indication of basement involvement. -
Nyrstar Way Zincbe the Leading Integrated Metals and Mining Business Multi Metals Growth Resources for a Changing World Deliver Sustainable Growth Sustainable Deliver
Achieve excellenceCreating in everything we do Value From volumeFrom to value to Through Integration Unlocking untapped value The Nyrstar Way ZincBe the leading integrated metals and mining business Multi metals Growth Resources for a changing world Deliver sustainable growth sustainable Deliver ANNUAL REPORT 2011 Key figures (EUR millions unless otherwise stated) 2011 2010 2009 MINING PRODUCTION Zinc in concentrate (‘000 tonnes) 207 84 - Gold in concentrate (‘000 troy ounces) 49.9 4.7 - Silver in concentrate (‘000 troy ounces)1 3,673 271 - Copper in concentrate (‘000 tonnes) 7.7 0.2 - SMELTING PRODUCTION2 Zinc metal (‘000 tonnes) 1,125 1,076 809 Lead metal (‘000 tonnes) 211 198 227 MARKET Average LME zinc price (USD/t) 2,191 2,159 1,659 Average exchange rate (EUR/USD) 1.39 1.33 1.39 KEY FINANCIAL DATA Revenue 3,348 2,696 1,664 Mining EBITDA3 72 24 (3) Smelting EBITDA3 235 198 97 Other & Eliminations EBITDA3 (42) (12) (2) EBITDA3,4 265 210 93 Results from operating activities before exceptional items 122 112 32 Profit/(loss) for the period 36 72 10 Mining EBITDA/t3 348 286 - Smelting EBITDA/t3 209 184 120 Group EBITDA/t3 199 181 115 Underlying EPS (EUR)5 0.38 0.85 0.32 Basic EPS (EUR) 0.24 0.62 0.10 Capital Expenditure 229 147 68 Net operating cash flow 121 232 (19) Net debt/(cash), end of period 718 296 38 6 Gearing (%) 35% 26% 5% 1 75% OF THE SILVER PRODUCED BY CAMPO MORADO IS SUBJECT TO A STREAMING AGREEMENT WITH SILVER WHEATON CORPORATION WHEREBY ONLY USD 3.90/OZ IS PAYABLE. -
Royal Gold to Acquire Barrick Gold's Royalty Portfolio 7/31/2008 7:20:00 AM DENVER, July 31 /Prnewswire-Firstcall/ -- ROYAL GOLD, INC
Royal Gold to Acquire Barrick Gold's Royalty Portfolio 7/31/2008 7:20:00 AM DENVER, July 31 /PRNewswire-FirstCall/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the leading precious metals royalty company, announced that it has entered into a definitive agreement to acquire a portfolio of royalties from Barrick Gold Corporation ("Barrick") for net cash consideration of $150 million and a restructuring of certain Royal Gold royalty positions at Barrick's Cortez Pipeline Mining Complex ("Cortez") in Nevada. The restructuring of these royalty positions will reduce the royalty burden on the undeveloped Crossroads deposit at Cortez while having only a minimal impact on Royal Gold's royalty revenue from the current production. The Barrick portfolio consists of royalties on 77 properties, including eight producing royalties, 20 development and evaluation stage properties, and 49 exploration projects. Over 75% of the portfolio consists of precious metals royalties. The purchase price for the acquisition will be paid from cash on hand. Royalty revenue generated from the Barrick portfolio in calendar 2007 was approximately $12 million. Revenues are expected to grow, assuming current commodity prices, as development stage projects commence production. The transaction is expected to be immediately accretive on all key financial measures. This royalty package complements Royal Gold's existing geographical royalty positions with significant growth into Canada and Australia. Terms of the Transaction Currently, Royal Gold holds four gold royalty interests at Cortez, consisting of two sliding-scale gross smelter return ("GSR") royalties ("GSR1 and GSR2"), a fixed rate GSR royalty ("GSR3") and a net value return royalty ("NVR1"). -
Page 1 of 2 SUBMISSION to the NUNAVUT WILDLIFE
SUBMISSION TO THE NUNAVUT WILDLIFE MANAGEMENT BOARD FOR Information: Decision: X Issue: Downlisting of Peary Caribou from Endangered to Threatened. Background: In October 2016 the Committee on the Status of Wildlife in Canada (COSEWIC) provided a re‐ assessment of Peary Caribou to the federal Minister of the Environment. This begins the formal listing process under the federal Species at Risk Act. Peary Caribou, which are currently listed under the federal SARA as Endangered, have been re‐assessed by COSEWIC in a lower risk category as Threatened. A recovery strategy is required for both Endangered and Threatened species. If Peary Caribou are downlisted under the federal SARA, a recovery strategy will still be required and it will not affect the current recovery strategy development process currently underway for Peary Caribou GN - Morgan Anderson Community consultations on the proposed downlisting of Peary Caribou were held with hunters and trappers organizations (HTOs) and regional wildlife boards in the range of Peary Caribou between June and August 2017. Organizations were asked to provide their formal position on the proposed downlisting and with any other comments, concerns or information that they feel should be considered. Consultation packages, in Inuktitut and English, were sent by mail and email. They included: a letter, information on the assessment and a questionnaire/response form. Follow‐up calls to the HTOs and RWBs were made on September 27, 2017. Results of Consultation: Kitikmeot Regional Wildlife Board No response