The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 76 - 87 of 87
The Northwest Territories has four operating mines: three diamond producers and one long-running tungsten operation. Exploration and development activity was brisk in 2008 with the most advanced projects located in the Slave Province. Here's a look at mining companies active during 2008 in the Northwest Territories: Producing mines BHP Billiton Diamonds Inc. (80 percent) and partners C. Fipke (10 percent) and S. Blusson (10 percent) produced about 3.5 million carats of rough diamonds at the Ekati diamond mine in 2008, making...
Despite the strong price and increasing investment surge for gold, Gold Fields Mineral Services reported in it's Gold Survey 2008 summary that global gold mine production dropped 4 percent in 2008 to reach its lowest level since 1995. Australia, Indonesia and South Africa experienced the most significant declines in production with Mexico and Russia seeing increases in production. South African production plummeted by an estimated 14 percent, the sharpest percentage fall...
The Government of the Northwest Territories and three diamond mines in the Northwest Territories entered a Memorandum of Understanding to further development and retention of the Arctic territory's diamond mining work force. The agreement was signed in Yellowknife Nov. 27 by Minister of Industry, Tourism and Investment Bob McLeod; Minister of Education, Culture and Employment Jackson Lafferty; BHP Billiton Diamonds Inc. President Ricus Grimbeek; Diavik Diamond Mines Inc. President Kim Truter; and Chantal Lavoie, senior vice p...
Mining exploration appears to be hotter than ever this season in the Northwest Territories and Nunavut, but the Canadian Arctic region's few producers are getting hammered by the strong Canadian dollar. The discrepancy was particularly evident in the territories' mining production. The total value of metal and diamond shipments from the Northwest Territories and Nunavut Territory decreased to C$1.53 billion during the calendar year 2007 for the second consecutive year, down from C$1.63 billion in 2006 and C$1.79 billion in...
De Beers has written down the value of its Snap Lake diamond mine in the Northwest Territories by US$965 million in what management called a "prudent" move given the increased value of the Canadian dollar and higher costs and construction challenges at Canada's newest diamond mine. The South African company is the second diamond miner to report financial problems in Canada, with Tahera Diamond Corp. seeking bankruptcy-court protection in January after a failure to raise money for its Jericho Diamond Mine in Nunavut. De...
Proponents of an Alaska-Canada rail link are thinking big. In a phase 1 feasibility study commissioned by the State of Alaska and the Yukon government and published in June, they estimate that the project would generate 3,000 direct jobs in Alaska's mining sector and 2,300 additional new jobs in other industries. At least 8.8 billion tons of mineral concentrates could be developed in the rail corridor in Alaska over a 30-year period, with a gross metal value of $16.9 billion, according to the study. To illustrate the scale...
A new resource estimate for Northern Dynasty's Pebble project in southwest Alaska makes it one of the world's most important copper-gold-molybdenum deposits, the company said Feb. 20. Inferred resources in the Pebble East deposit have increased nearly 90 percent, to 3.4 billion metric tons. Pebble East is contiguous to and deeper than the 4.1 billion-ton near-surface Pebble West deposit, and is higher grade. Pebble West was the first area explored and is the potential location for an open pit mine. Geotechnical assessment has...
Stornoway Diamond Corp. of Vancouver, B.C., worked up until a Sept. 18 deadline to win over minority shareholders of Ashton Mining of Canada Ltd., succeeding in wooing enough shareholders to move forward with the complex three-way merger. Stornoway said late Sept. 18 that conditions of its offer for outstanding shares of Ashton and Contact Diamond Corp. were met, and Stornoway has given notice to the depositary to take-up all shares tendered under the offers and extend the offers until Oct. 2. Stornoway proposed the...
Drop by Galore Creek camp this summer and you're sure to be well fed. A lively bunch of young people load up their plates with steak, shrimp, potatoes, salads and cakes, refueling after another rainy day in the field. The only slight problem for the casual visitor is getting here. There is no way into this temporary town up in the mountains of British Columbia other than by helicopter. From Wrangell in southeast Alaska a group from the Alaska Miners Association took a five-seater plane to Bob Quinn airstrip across the border...
Stornoway Diamond Corp. of Vancouver, B.C., launched an ambitious bid in July that, if successful, will create a mid-tier diamond exploration and development company in Canada. The complex three-way combination of Stornoway with Ashton Mining of Canada Ltd. and Contact Diamond Corp. is valued at C$140 million. Considered a significant consolidation of leading exploration companies in Canada's growing diamond industry, the transaction would have a market capitalization of more than C$200 million, enough financial strength to...
Diamond production in Canada's North is delivering more than vast profits to mining companies and millions of carats to eager consumers around the globe. Since its first diamond was discovered in 1991, Canada's North has emerged as a world-class diamond producer. Three of the biggest diamond mines, all in the Northwest Territories, are expected to generate $26 billion in gross domestic product over their lifetimes and provide around 125,000 person years of employment. Diamond mining also has spawned a support industry of...
Hunting hard in remote elephant country, NovaGold Resources can claim a lion's share of kills. Now the aggressive junior has to prove whether it's found any trophies that will make the company a metals producer. NovaGold announced March 26 an agreement with Kennecott Exploration and Kennecott Arctic to acquire a 51 percent interest in the Ambler gold, silver, copper and base metals property in remote northwestern Alaska. Previous exploration on Arctic, the most advanced target on the Ambler property, identified an inferred...
