Canadian Mining Journal | December 2024 - January 2025
CANADIAN MINERS WITH INTERNATIONAL SUCCESS STORIES
>FORTUNA MINING: AFRICA IS NOT ENOUGH!
>TRX GOLD: YOU WILL NEVER EXPLORE ALONE!
>TRUMP’S IMPACT ON CANADIAN MINING.
>MINExpo 2024 round up
>Mining In B.C. and Yukon
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FEATURES
MINING IN B.C. AND YUKON
14 Strong gold and metal prices have mine-makers looking to western Canada for opportunity.
INTERNATIONAL MINING
18 You will never explore alone! CEO Stephen Mullowney on TRX Gold’s future.
23 Saudi Arabia of lithium: The future of mining in Afghanistan and Pakistan.
26 Trade, tariffs, and minerals: The need to position Canada as an indispensable trading partner.
28 Interview with Jorge A. Ganoza, president, CEO, and director of Fortuna Mining on growth and combating political instability.
MINEXPO 2024
32 Highlights from MINExpo 2024: Technology, equipment, and mining tire innovations.
TECHNOLOGY AND EQUIPMENT
37 Asymmetrical Hard Rock Body for underground hauling environments.
41 Automation’s next frontier: Intelligence in mining.
MINING REBRANDING, EDUCATION, TRAINING, AND WORKFORCE
38 What have you done today that did not involve a mineral? Part 2.
HISTORY OF MINING
43 The afterlife of Pine Point.
DEPARTMENTS
4 EDITORIAL | Canadian miners should brace for the impact of Trump’s tariffs.
6 FAST NEWS | Updates from across the mining ecosystem.
7 LETTER TO THE EDITOR
8 LAW | Risk management considerations when expanding abroad.
12 ESG, SUSTAINABILITY, AND NET-ZERO | A more sustainable mining industry.
45 ON THE MOVE | Tracking executive, management, and board changes in Canada’s mining sector. 43
www.canadianminingjournal.com
ICanadian miners should brace for the impact of Trump’s tariffs
n 2024, the mining industry saw some significant mergers and acquisitions. To mention but a few, Piedmont Lithium and Sayona Mining merged to create a leading North American lithium producer, Integra Resources and Florida Canyon Gold formed a new Great Basin precious metals producer, and Gold Fields completed the acquisition of Osisko Mining. Additionally, the global mining market in Q3 2024 witnessed deals worth $23 billion, a 42% increase compared to Q3 2023.
In 2025, the nature of the beast the Canadian mining sector will have to face has changed. In a recent interview on CBC Radio’s Labrador Morning, I was asked about the impact, particularly on iron ore and nickel produced in Newfoundland and Labrador, of the proposed 25% tariff by the U.S. President-elect Trump. My answer was that it will have a huge impact, not just on Labrador’s iron ore and nickel, but also on all minerals exported to the U.S. from Canada and could significantly impact both the U.S. and Canadian economies. Trump’s proposed tariffs on Canadian mineral imports could disrupt trade, increase costs for U.S. manufacturers, and negatively affect the Canadian mining industry. A decline in exports to the U.S. could negatively impact Canada’s mining sector, leading to potential job losses and reduced economic activity in regions dependent on mining.
According to several recent articles from S&P Global, Financial Times, and our sister website, MINING.COM, Trump’s tariffs would drive up metals’ costs for manufacturers. Because the U.S. imports substantial amounts of critical minerals from Canada, imposing tariffs would raise the cost of these essential materials for U.S. manufacturers, potentially leading to higher production expenses and increased prices for goods in the U.S., and eventually contributing to inflation.
On page 26 of this issue, Steve Gravel discusses how Canada can develop a trade strategy that exempts critical mineral exports from these tariffs, and he argues that we need to position Canada as an indispensable trading partner to the U.S., focusing on bilateral agreements that highlight mutual economic benefits, thus aligning Canadian exports with U.S. priorities such as job creation (personally, I prefer imposing tariffs on Tesla EVs).
Also in this combined issue, we focus on international mining topics. Canada’s mining sector is highly international and plays a significant role in the global mining industry. Canada is home to 75% of the world’s mining companies, with over 1,400 mining and exploration companies listed on the Toronto Stock Exchange (TSX) and TSX Venture Exchange. Additionally, Canadian companies have operations in more than 100 countries, making it a dominant force in the global mining industry.
Thousands of Canadian mining supply and services companies are also working with the sector internationally. International success stories of Canadian miners are covered in articles on pages 18 to 31, in addition to several topics related to international mining.
Our regular columns also discuss international mining issues. On page 8, our Law column reflects on the risk management considerations for mining companies when expanding abroad. The issue also contains several articles on technology, equipment, and more
Finally, our team wishes our readers Happy Holidays and a Happy New Year! Our next issue is February/March (PDAC 2025) issue which will feature our annual review on the state of mining in Ontario, including a report on top development projects, the Ontario Mining Association’s annual address, and a look at the new technology and innovations emerging from the rich vein of suppliers in the province. Relevant editorial contributions can be sent directly to the Editor in Chief no later than Feb. 10th, 2025.
President, The Northern Miner Group Anthony Vaccaro
Established 1882
Canadian Mining Journal provides articles and information of practical use to those who work in the technical, administrative and supervisory aspects of exploration, mining and processing in the Canadian mineral exploration and mining industry. Canadian Mining Journal (ISSN 0008-4492) is published nine times a year by The Northern Miner Group. TNM is located at 69 Yonge St., Ste. 200, Toronto, ON M5E 1K3. Phone (416) 510-6891.
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Australian mining magnate Gina Rinehart has moved closer to reviving a contentious metallurgical coal mine in Canada’s Rocky Mountains after a local plebiscite showed strong support for the project.
Nearly 72% of voters in the municipality of Crowsnest Pass, Alberta, endorsed restarting the Grassy Mountain mine, a proposal that has divided the community and sparked regional debate.
The project is being led by Northback Holdings, formerly known as Riversdale Resources and Benga Mining, with Rinehart’s Hancock Prospecting being the parent company.
The mine, originally closed in 1983, has the capacity to produce 4.5 million tonnes of steelmaking coal annually and spans 2,800 ha.
Northback Holdings has continues to push for the mine’s approval, pledging to implement management and mitigation measures to address environmental risks, including selenium discharge, during all phases of the project.
• CRITICAL MINERALS | White Gold to explore
for critical minerals in Yukon
White Gold is looking to explore the critical minerals potential of its 3,150 km2 land package in west-central Yukon, having identified prospective targets for copper, molybdenum, tungsten, antimony, zinc and bismuth during its ongoing gold exploration.
The company’s portfolio currently comprises 15,876 quartz claims across 26 properties that together cover approximately 40% of Yukon’s White Gold District. Most of the exploration focused on its flagship gold project of the same name, for which it reported an updated resource last week.
White Gold says this new resource estimate -- covering four deposits for a total of 17.6 million tonnes at 2.12 g/t gold for 1.2 million oz. in the indicated category and 24.4 million tonnes at 1.42 g/t gold for 1.1 million oz. inferred category -- makes the project “one of the highest-grade open pit gold resources in Canada.”
The deposits are also complimented by several new gold discoveries and prospective targets, creating what White Gold chief executive David D’Onofrio calls “a very robust gold exploration pipeline in a highly prolific and underexplored area of the Yukon.”
•
JOINT VENTURE | Denison forms three uranium JVs with Cosa Resources
Denison Mines and Cosa Resources have agreed to form three uranium exploration joint ventures in the eastern portion of the Athabasca Basin in northern Saskatchewan.
Cosa will acquire a 70% interest in Denison’s Murphy Lake North, Darby, and Packrat properties in exchange for approximately 14.2 million Cosa common shares, $2.25 million in deferred equity consideration, and a commitment to spend $6.5 million in exploration expenditures at Murphy Lake North and Darby. Denison will also hold a royalty on the properties.
Denison retains a minimum 30% direct interest in the properties and will become Cosa’s largest shareholder (19.95%), while also securing strategic pre-emptive rights and a buydown right to increase Denison’s interest in the Darby property.
Gina Rinehart, executive chairman of Hancock Prospecting. IMAGE: GINA RINEHART
The White Gold district in the Yukon. IMAGE: WHITE GOLD CORP.
The McClean Lake uranium mill. IMAGE: DENISON MINES CORP.
MERGER | Sayona, Piedmont to create lithium giant
Australia’s Sayona Mining is buying US-based Piedmont Lithium in an all-stock deal that will consolidate their Canadian operations and boost the merged firm’s exposure to the North American electric vehicle (EV) sector, the companies said.
The deal would create the largest producer of hard rock lithium in North America, the companies said. They noted the business combination would also create opportunities for further growth, helping to cut operating costs and make the sale and shipping of lithium easier.
The tie-up brings together the two owners of the North American Lithium project in Quebec’s Abitibi region. This would allow the parties set up a more streamlined and robust lithium business that is well placed to grow through cycles, the companies said.
As part of the deal, Sayona will become the parent company of the newly formed lithium firm. The transaction, structured as an all-share deal, represents a 6% premium to Piedmont’s closing share price on Monday.
After raising capital separately by Piedmont and Sayona, the combined lithium miner will have an estimated pro-forma market capitalization of $623 million, with shareholders from both companies holding roughly equal stakes.’
The joint venture between Sayona and Piedmont in Quebec completed its ramp-up in June this year. It aims to produce 226,000 tonnes of spodumene concentrate annually, with half of the output originally to be sold to Piedmont.
Despite operating at a loss in the September quarter, Sayona noted that merging the entity could simplify the acceptance of government or customer support if needed.
Piedmont, which has supply agreements with several customers, including Tesla and South Korea’s LG Chem, is also advancing a project in North Carolina and exploring spodumene assets in Ghana with Australian-listed Atlantic Lithium. Sayona holds additional lithium assets in Western Australia.
Sayona and Piedmont Lithium directors have unanimously approved the deal, the companies said, adding they expect to complete it in the first half of next year.
• LETTER TO THE EDITOR
An after thought to my article: “Regulatory permitting: Exploration to mine development,” published on page 6 of the October issue of the Canadian Mining Journal.
A permit must be considered as an asset that has an intrinsic value because of its acquiring costs and must be entered as a line item in any financial statement. The permit should be compared to a patent, license, or mining claim, which includes renewal costs. Permits add value to any company’s financial position, as it also adds to shareholder’s value and could be used as an asset in any bankruptcy, mergers and acquisitions, and possible trades.
For example, if an Indigenous community holds a permit (i.e., exploration permit, surface rights, etc), which was
• DIAMOND DRILLING | Sitka Gold shares high-grade results of drilling at RC in Yukon
The first ever diamond drill holes by Sitka Gold at the Rhosgobel intrusion at its RC gold project in western Yukon have returned high grades from relatively shallow depths.
Hole DDRCRG-24-001 cut 164.8 metres grading 0.82 g/t from 9.1 metres depth, including 119 metres at 1.05 g/t gold, 38 metres at 2.05 g/t gold and 11.5 metres grading 4.32 g/t gold.
Drill hole DDRCRG-24-002 returned 173.3 metres at 0.6 g/t gold from 97 metres depth, including 28.4 metres grading 1.37 g/t gold, 12.4 metres at 2.43 g/t gold, and 1.1 metres at 8.99 g/t gold.
The results also confirmed that gold mineralization is laterally open in all directions, Coe said. The mineralization sits inside a 2-km by 1.5-km gold-in-soil anomaly with values ranging from 100 parts per billion (ppb) to 500 ppb.
obtained through their own initiative, this will add immense value for an investor. The Indigenous communities need to understand that permits have an intrinsic value for investors, as without permits, there will be no investments. This example would make mining investment more appealing to the investor, timely and cost efficient, and reduce the problem(s) of permitting time frames as per my article. It is now becoming apparent that there are some Indigenous owned exploration groups which could hold such permits.
Bruce Downing, M.Sc., P. Geo., FGC, FEC (hon.) is an independent mining expert.
Site of the RC gold property. IMAGE: SITKA GOLD.
NAL achieved steady-state production in June 2024. IMAGE: PIEDMONT LITHIUM.
By Ricardo Balestra, María del Mar Heredia, Rachel Howie, Sergio Kosik, and Michael R. Rattagan LAW
Risk management considerations when expanding abroad
With the global distribution of minerals and the associated opportunities, miners need to go to where these resources and opportunities are available. That frequently involves entering joint ventures, licences, and other agreements in new jurisdictions. What steps can companies take to consider managing risk when evaluating and proceeding with international opportunities? In this article, we set out some considerations that miners ought to keep in mind to protect their business.
Investment structuring
Investment structuring involves setting up one’s business arrangements in another country (the host state) to leverage investment protections provided in bilateral or multilateral treaties. While these treaties refer to protecting “investors,” what they are actually protecting, depending on the nuances of any particular treaty, can include a public or private company,
or a subsidiary of such a company, an investment fund, an individual entrepreneur, a shareholder or any entity that meets the particular definition of “investor.”
The protections offered to the “investor,” again depending on the specific wording of a treaty, usually include the following:
1. National treatment: an obligation to treat the foreign investor no worse than a local investor in like circumstances.
2. Most favoured nation treatment: a requirement to treat the foreign investor no worse than foreign investors from another state getting preferential treatment from the host state in like circumstances.
3. An obligation to provide a base level or minimum standard of treatment.
Ball mill at a copper mine in Chile.
CREDIT: JOSE LUIS STEPHENS/ADOBE STOCK
4. A requirement to provide full protection and security against acts of the government and private parties.
5. A prohibition against expropriation without reasonable compensation.
In many cases, these treaties can also address tax protections to ensure tax stability for the investors entering the country, considering mining often involves long-term investments.
For those looking to enter a new venture in another country, the protections offered by these treaties, of which there are thousands in force around the world, provide tools to manage political and regulatory risk. Beyond substantive protections, investment treaties also offer procedural protections that can be appealing, such as the ability to bring a claim directly against the host state through international arbitration if a substantive protection is violated. This process removes the claim from that host country’s local judicial system, placing it under international law to be addressed by a tribunal experienced in handling such disputes. Failing to address structuring to take advantage of available treaties at the outset may prohibit a miner from later taking advantage of a treaty.
Contractual protections
In addition to the protections offered by treaties, miners and host states may establish, through private contracts, stabilization clauses that address potential changes in the host state’s law throughout the project’s duration.
The three primary types of stabilization clauses are
1. “freezing clauses,” which exclude the investment from the application of new laws, whether pertaining to any new legislation or limited to specific regulatory areas;
2. “equilibrium clauses,” which aim to compensate for losses incurred because of the changes in host state law; and
3. “hybrid clauses,” which combine elements of both types. Ultimately, these clauses establish legally protectable expectations for investors that may entitle them to seek compensation.
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The existence of stabilization clauses does not prevent the host state from enacting new legislation.
If well designed, these clauses can facilitate large-scale and long-term project investments. However, it is important to clarify that the existence of these clauses does not prevent the host state from enacting new legislation; instead, they aim to ensure that any changes in the legal framework are applied in a way that is fair, rational and non-discriminatory toward specific investors. To achieve this, the contractual framework must be aligned with the host’s legal landscape, considering potential changes in areas such as environmental standards, social licensing, or other relevant regulations. This approach helps protect the investor’s legitimate expectations, reducing the risks of adverse impacts or discriminatory treatment. Additionally, special attention must be paid to the host state’s risk profile, particularly regarding the political risks of expropriation or nationalization, political instability, social and environmental, international sanctions, corruption, or the existence of an inadequate judicial system or weak rule of law. To mitigate these risks, miners may seek political risk insurance from either private companies or public providers, such as export credit agencies or multilateral credit institutions. Furthermore, to address contingencies such as inflation, price fluctuations, or supply chain disruptions, projects may be structured through a streaming agreement to pre-allocate these risks.
Mining activity is exposed to several factors that escape investor control and can substantially alter mining operations. Therefore, miners should consider, where beneficial under governing laws, incorporating strong and broad force majeure clauses as an effective risk allocation tool. These provisions can serve as an excuse for the party’s non-performance of its contractual obligations because of reasons outside its reasonable control. Hardship provisions may also be helpful to open the possibility of a renegotiation of the terms of the agreement if the contractual equilibrium is altered in such a way that the performance of the contract becomes ruinous for one of the parties. Where contracts address several phases of a mining development such as exploration, exploitation, and closure of the mine, it is also important that the contract address the transition to each one of the phases, considering all the requirements that these transitions may involve (i.e., governmental approvals or permitting). Other provisions that are relevant and required to be addressed by the investors involve liability clauses, any insurance requirements, and termination for convenience or early termination clauses.
In summary, it is crucial for miners to consider adapting the contractual and corporate structure of the project to the local framework and the risk profile of the host state, as well as considering the broader global context.
Ricardo Balestra is a partner in Dentons, based in Buenos Aires. He specializes in the areas of corporate law and energy with more than 15 years of experience in international transactions with a special focus on Latin America.
María del Mar Heredia is a partner at Dentons, based in Quito. She is the legal director of the contracts, M&A, energy, mining, and oil areas at the firm.
Rachel Howie is a partner at Dentons, based in Calgary. She is the co-leader of the litigation and dispute resolution group in Canada, and national alternative dispute resolution and arbitration group.
Miners should consider, where beneficial under governing laws, incorporating strong and broad force majeure clauses as an effective risk allocation tool.
Sergio Kosik is a senior associate at Dentons, based in Buenos Aires. He oversees diverse client matters, leading a team of junior and semi-senior lawyers focused on addressing the day-to-day legal intricacies faced by multinational companies operating in Argentina.
Michael R. Rattagan is a founding partner of Dentons’ Argentinean office. He co-leads the M&A and natural resources and energy groups in Buenos Aires and has 30 years of experience in advising international companies on commercial, corporate and contractual matters, acquisitions, oil and gas, mining and energy.
A more sustainable mining industry
Why mining companies have become more sustainable and inclusive to stay relevant
AtkinsRéalis offers expertise in post-closure environmental stewardship.
As one of Canada’s largest industries, mining has a big part to play in our country’s efforts to create a more sustainable future by helping us achieve net-zero. Canada has some of the biggest mining operations in the world: the minerals sector accounts for almost 700,000 Canadian jobs, $148 billion of the country’s gross domestic product, and more than 20% of its domestic exports ($158 billion).
Minerals and metals, such as lithium in electric vehicle batteries and silicon in solar panels, are essential for decarbonization. They are also crucial for medical devices, construction materials, and household appliances. Without mining and critical minerals, our modern world would be vastly different, missing many of the conveniences we depend on and hindering technological progress, economic development, and our capacity to address environmental challenges.
As a key leader in the industry, Montreal-based AtkinsRéalis is poised to help miners set the example for what climate-friendly practices look like in action. The company’s global experts work on sustainable mining projects from inception to closure, including water resources, environmental assessment and compliance, mine-closure planning and decommissioning, and tailings-storage design and management. And Dr. Castillo-Devoto says it is all done with sustainability in mind.
“What is unique is that we speak the mining language, we have the technology, but we also understand the mining footprint throughout the mine’s lifecycle, bringing multistep analysis to areas like biodiversity, climate change adaptation, and community involvement,” says Dr. Castillo-Devoto.
The reality of that footprint is that demands for certain metals essential for achieving sustainable, net-zero infrastructure are increasing dramatically. Copper, for instance, will be required at unprecedented levels as countries shift to more electric energy solutions, requiring doubling the current annual copper production to 50 million tonnes.
To access these critical minerals, mining projects today ensure that energy use is minimized, natural resources are managed carefully, and strategies to incorporate clean energy sources are implemented.
In a remote, subarctic landscape of Canada’s Northwest Territories for example, experts at AtkinsRéalis defined the water management strategy for a large diamond mine, including the estimated capital and operating costs of water treatment plants.
“From the top of the mountains to the ocean, we provide a holistic perspective with water management at the mining site and an integrated water stewardship along the basin,” explains Dr. Castillo-Devoto. “Forming a responsible plan for water management requires experts who understand the watershed,
the unique requirements for each project, the potential impacts from extreme weather events, and a number of other complex factors,” he added.
The end is as important as the beginning
A mining project’s closure is a significant part of its lifecycle and must be planned in detail to address the impact to the local biodiversity and the community.
closures was on display in northern Quebec, where local community leaders, including those from regional First Nations, were engaged and consulted for nearly three years.
“We wanted the community to feel empowered, and these considerations are embedded in the way that we design a project, so the communities have to be involved from the start because that is their home and they need to have their say,” says Ms. Richard.
“We cannot reduce our greenhouse gas (GHG) emissions and reach our net-zero goals without mining.”
Dr. Gabriel Castillo-Devoto, director of ESG and sustainability, North America, minerals and metals, AtkinsRéalis.
“Years ago, closing was looked at as a cost instead of a value, an investment,” says Dr. Castillo-Devoto. “But that is no longer the case. Now, our
Mining is needed for net-zero
It is a fact that the mining industry and its products are intertwined into almost everyone’s everyday life, including smartphones, laptops, clothing, and bicycles.
“But even more than that, metals and minerals are a necessity in the building of both the technology and infrastructure that will lead us to our decarbonization goals,” says Ms. Richard. For instance, lithium for lithium-ion batteries used in most of
today’s electric vehicles requires extraction from the earth and likewise for the metals and silicon needed in solar panels.
She adds that mining companies that want to stay relevant and competitive have already made, or are looking at making, changes to their practice, as regulations are moving in the sustainable direction, including a more diverse workplace.
“Mining is an industry focused on the future, not the past, offering a promising path to those who wish to join this dynamic and vibrant sector,” she says.
To thrive, the industry must embrace diversity, she explains, by attracting women, younger generations, and individuals from various backgrounds as well as fostering mutually respectful relationships with local Indigenous communities.
“This requires a shift in how we communicate and present the industry because critical minerals are essential for safeguarding our planet, and we must show that sustainable mining is possible,” Ms. Richard adds.
Looking ahead in B.C. and Yukon
Recent strong gold and metal prices have many mine-makers looking to western Canada for opportunity
Seemingly, North Americans look to the west for opportunity. And when we in Canada look left, we see British Columbia and Yukon. Opportunities abound there for miners, so let us jump in.
Where better to begin than with one of the world’s largest copper, gold, and silver resources all wrapped up in the KerrSulphurets-Mitchell (KSM) project belonging to Seabridge Gold. With reorganization and a new focus on gold, the company bought what is now the KSM project from Placer Dome in 2000. The property is located 65 km northwest of Smithers, B.C. Exploration began in earnest in 2006, and by 2010 a prefeasibility study (PFS) was released estimating there were 8.5 million oz. of gold, 7 billion lb. of copper, and 133 million oz. of silver in the ground.
Since the first PFS, Seabridge has repeatedly updated the reserves and resources until they stand today at 47.3 million
oz. gold, 7.32 billion lb. copper, and 160 million oz. silver in the proven and probable reserves. That includes 2.29 billion tonnes grading 0.64 g/t gold, 0.14% copper, and 2.2 g/t silver. The totals include three separate deposits - Sulphurets, Mitchell, and East Mitchell.
The camp for the KSM gold-copper project.
The Cariboo gold project.
Treaty Creek road that services the KSM gold-copper project.
Inclusive of reserves, the measured and indicated resource contains 88.7 million oz. gold. 19.63 billion lb. copper, and 417 million oz. silver. The inferred resource has tremendous potential, too, as it is estimated to contain 71.5 million oz. gold, 38.48 billion lb. copper, and 461 million oz. silver. The Kerr and Iron Cap deposits are included in this total. If KSM is not the world’s largest undeveloped gold-copper-silver resource, it must certainly be among the top. And the numbers above were conservatively calculated at prices of US$1,300/oz. gold, US$3/lb. copper, and US$20/oz. silver. With the exception of silver, those prices continue to rise.
US$6.4 billion and sustaining costs at US$3.2 billion, but the after-tax cash flow would be US$23.9 billion.
With recent spot prices for gold (US$2,200/oz.), copper (US$4/lb.), and silver (US$25/oz.), according to Seabridge’s November 2024 corporate presentation, those numbers continue to climb. The after-tax cash flow becomes US$35.9 billion, the NPV5% grows to US$12.7 billion and the after-tax IRR is 21.0%.
The PFS mine plan is based on three open pits with underground mining to follow. It includes less than a quarter of total mineral resources and does not include the Kerr or Iron Cap deposits. Over at least 33 years of mining, annual production at KSM will be 1.4 million oz. gold, 250 million lb. copper, and 3.8 million oz. The tailings permit specifies a capacity of 2.3 billion tonnes, or enough to manage only 21% of the known resource.
The early start of site construction began in 2021 and to date, Seabridge has spent $444 million in northwestern B.C., with a significant portion of the spend going to First Nation related companies.
Work has been focused on roads, bridges, camps, fish compensation, and power infrastructure.
With major permits in hand (the provincial and federal environmental okays were given in 2014), KSM is moving forward. Most everything is in place with the exception of the billions needed to bring it to production.
Seabridge is currently hunting for a deep-pocketed joint venture partner. We look forward to a timely announcement. Only 20 km away from KSM, Seabridge is also advancing the Iskut project. This undertaking includes the former Johnny Mountain gold mine and the Bronson Slope copper-gold deposit. Add in the company’s Courageous Lake gold project in the Northwest Territories, the 3 Aces gold project in Yukon, and the Snowstorm gold project in Nevada, and CMJ readers can expect to hear more from Seabridge Gold.
Artemis at Blackwater
Artemis Gold acquired the Blackwater property in August 2020 and began construction the following year. In late
CREDIT: SEABRIDGE GOLD
The 2022 PFS put after tax net present value with a 5% discount (NPV5%) for KSM at US$7.9 billion, the after-tax internal rate of return (IRR) at 16.1%. Initial capital costs were pegged at
The Bell-Irving bridge on the way to the KSM gold-copper project.
BRITISH COLUMBIA & YUKON
2024, the first gold pour was made, and British Columbia had its newest gold mine. The project is now in the final commissioning stage.
Having a new gold mine is good news, but expanding it is already in the works. Phase two expansion will take annual Blackwater output to about 600,000 gold equivalent oz. from the phase one production of 400,000 gold equivalent oz. The timing of this work will be based on the ability to fund it through operating cash flows rather than equity financing.
Artemis has a solid plan. Phase one carried a price tag of roughly $730 million to $750 million, creating a processing plant capable of handling 12 million tonnes of ore annually. Phase two could begin in year three and would bring throughput up to 15 million t/y at a cost of about $592 million, and a phase three beginning in year seven would boost mill capacity further to 25 million t/y at a cost of $852 million.
The Blackwater project has a peculiarity in its design: haulage from the pit to the plant to the tailings storage facility is all downhill. That will add up to savings in diesel consumption. Caterpillar financed $140 million for the original mining fleet, but Artemis has the option to begin placing orders for a zero-emissions fleet next year for shipment in 2029.
The company recently upped its gold price assumption to US$2,000 from US$1,400 and boosted the resource base. Total measured and indicated resources now stand at 116 million tonnes grading 0.64 g/t gold equivalent and containing 2.5 million gold equivalent oz.
The Blackwater deposit is open to the north, northwest, and at depth in the south. The land package is 1,500 km2 and largely underexplored. That gives the project long-term expansion potential.
Other projects in B.C.
has completed a feasibility study (FS) for its Eskay Creek project which includes a former gold producer, and the company also owns the former Snip gold mine 40 km away. Osisko Development has its Cariboo project at the permitting stage. And both the Yellowhead project of Taseko Mines and the Spanish Mountain project of Spanish Mountain Gold have prefeasibility studies (PFS) in hand.
For the non-gold bugs, PFSs have been completed by FPX Nickel for its Baptiste nickel discovery at the Decar property and by Defense Metals for the Wicheeda niobium-rare earths project.
Silver lining in Yukon
Hecla Mining, the oldest silver miner on the NYSE and largest U.S. silver producer, is active at the former Keno Hill silver property in Yukon. The area produced over 200 million oz. of silver from 1913 to 1989. With Hecla’s expertise there is no reason the area cannot again be a leading silver producer, maybe Canada’s largest.
The property lies about 350 km north of Whitehorse, Yukon. It covers 242 km2 with numerous mineral deposits and more than 35 past-producing mine sites. Silver guidance for 2024 was 2.7 million to 3 million oz. as the project reaches full capacity.
British Columbia is likely to become a major Canadian gold producer as several other projects are active.
Talisker Resources has taken its Bralorne project to construction. Skeena Resources
Hecla acquired Keno Hill through its takeover of Alexco Resource in 2022. There are five deposits at Keno Hill –Bellekeno, Lucky Queen, Flame & Moth, Onek, and
The Blackwater gold mine crushing circuit.
Surface facilities at the Eskay Creek gold project.
Interior of the mill at the Cariboo gold project.
CREDIT: OSISKO DEVELOPMENT
Site of the Keno Hill silver mines.
CREDIT: HECLA MINING
Bermingham. The property is fully permitted and includes a 400 t/d mill, camp, and surface facilities at the Flame & Moth site.
The proven and probable reserves total 2.1 million tonnes grading 26.6 g/t silver, 0.01 g/t gold, 2.5% zinc, and 2.8% lead, containing 55.1 million oz. silver, 13,000 oz. gold, 104.8 million lb. zinc, and 116.3 million lb. lead. Reserves are based on US$17/oz. silver, US$1,600 gold, US$1.15/lb. zinc, and US$0.90/lb. lead.
As far as resources go, the measured and indicated portion is 4.5 million tonnes grading 7.5 g/t silver, 0.0006 g/t gold, 3.5% zinc, and 0.90% lead, containing 33.9 million oz. silver, 26,000 oz. gold, 314.7 million lb. zinc, and 82.2 million lb. lead. The inferred resource is 2.8 million tonnes grading 11.2 g/t silver, 0.003 g/t gold, 1.8% zinc, and 1.1% lead, containing 31.8 million oz. silver, 9,000 oz. gold, 103.7 million lb. zinc, and 64.1 million lb. lead. Resources are based on US$21/oz. silver, US$1,750/oz. gold, US$1.35/lb. zinc, and US$1.15/lb. lead.
Hecla is also hunting gold in Yukon at the Rackla property acquired with the takeover of ATAK Resources in July 2023. There are two separate projects –Nadaleen and Rau. Nadaleen hosts Canada’s first Carlin-type gold discovery at the Osiris deposit. The Rau project hosts the advanced exploration stage Tiger deposit.
If that is not enough to make Rackla interesting, the property also hosts silver-lead-zinc, gold-copper, and gold occurrences.
Other projects in Yukon
The next most advanced project in Yukon is the feasibility-stage Coffee gold project owned by Newmont. Coffee is a proposed open pit and heap leach gold producer. It has been approved by both the federal and territorial governments, but other permits are pending.
The Nickel Shaw project owned by Nickel Creek Platinum is located about 300 km northwest of Whitehorse. The 2023 PFS calls for an open pit mine and processing plant, both of conventional
design. Proven and probable reserves total 307.7 million tonnes, grading 0.26% nickel, 0.16% copper, 0.014% cobalt, plus gold, platinum and palladium. The deposit contains 1.4 million lb. nickel, 892 million lb. copper, and 96 million lb. cobalt.
Granite Creek Copper released a preliminary economic assessment for the Carmacks copper-gold project in 2023 that includes an open pit and conventional processing plant. It has a measured and indicated in-pit oxide resource of 15.7 million tonnes grading 0.94% copper and containing 326 million lb. copper. There is also an in-pit sulphide resource of 19.2 million tonnes grading 0.71% copper, containing 300 million lb. copper, in the measured and indicated categories. A measured and indicated sulphide resource below the pit has been estimated to contain 1.4 million tonnes grading 0.82% copper, containing 25 million lb. copper.
Conclusion
The old saw about going west for opportunity seems to be true for British Columbia and Yukon. There is a lot of activity among the gold hunters, but that is not the only opportunity for making new mines. The westernmost portion of Canada looks to be a solid producer of precious and base metals and several critical minerals.
All it takes now is patience, money and time to create future opportunities.
Hecla has chosen underground devel opment for the Bermingham and Flame & Moth deposits, the initial production targets. (Lucky Queen is in the advanced exploration stage). All deposits are char acterized by high-grade, narrow veins, and challenging ground conditions. The company is using a mechanized cut and fill method followed by cemented rock fill. Mining is currently estimated to end in 2034.
Hecla budgeted US$8.4 million for exploration in the Keno Hill district last year, and numerous underexplored tar gets have been identified.
TSX:SKE | NYSE:SKE www.skeenagoldsilver.com
Underground development at the Keno Hilll silver project.
Site of the Brucejack gold mine. CREDIT: NEWMONT
By Tamer Elbokl,
You will never explore alone!
CEO Stephen Mullowney on TRX Gold’s future
Last October, TRX Gold announced its best drill result ever, intersecting 5.48 g/t gold over 35.5 metres at the Buckreef Gold project in Tanzania. The company also announced the discovery of a promising new gold mineralization shear zone, named “Stamford Bridge zone,” at which the drill results are revealing geological characteristics and mineral alterations that are similar to that at Buckreef’s main zone.
“The Stamford Bridge zone is an exceptional discovery, resulting in the most significant mineralization identified within Buckreef Gold’s drill history,” said TRX Gold’s CEO Stephen Mullowney (SM).
After the announcement, I had the opportunity to discuss the company’s recent successes with Mr. Mullowney.
Being an English Premier League (EPL) fan myself, I noticed the naming of exploration sites such as Anfield and Stamford
Bridge after EPL stadiums in England, so I asked what the story was behind that. Mullowney explained that many of TRX Gold’s employees at site follow “football” and cheer for these same teams. It is a bit of fun and a form of team building if you will! It inspired the title of this article: “You will never explore alone!”
TRX Gold is a junior high-margin gold producer
• Buckreef is located in a safe and friendly mining jurisdiction.
• The company has a clean balance sheet without debt.
• Self-funded from consistent cash flow from operations.
Conveyor belt moving ore from the crusher at the Buckreef Gold mine. CREDIT: TRX GOLD
BUCKREEF PROJECT IN TANZANIA
Tanzania is the third largest gold producer in Africa after Ghana and South Africa. Tanzania’s gold reserves are estimated at about 45 million oz., and Tanzania’s annual gold production stands at around 50 t/y. Gold exploration is mostly centered on the greenstone belts around Lake Victoria, where several large deposits have been discovered and are being developed. TRX Gold’s Buckreef project is in the Geita district of the Geita region, south of Lake Victoria, approximately 110 km southwest of the city of Mwanza, Tanzania. Buckreef is situated about 45 km to the west of Barrick Gold’s Bulyanhulu gold mine and nearly 35 km south from AngloGold Ashanti’s flagship Geita mine in north-central Tanzania.
CMJ: As a conversation starter, let’s talk a bit about history: Can you please talk to us about the history of TRX Gold, your background, and how you became CEO?
SM: Working at PWC as partner in the mining M&A department, I worked as a consultant to many mining companies on transactions, balance sheet clean-ups, and all matters of sort. I came across TRX Gold and its Buckreef Gold project, then named, Tanzanian Gold Corp., and really liked what I was seeing in terms of the project, the deposit, and believed that I could make a positive contribution to improving operations and the balance sheet, and really getting the project off the ground. I introduced myself to the founder and then the CEO, James Sinclair, and the rest is history. I was invited to join TRX Gold at the helm and then formed the team of executives and board of directors that you see in place today. In three short years, this refreshed team has taken Buckreef Gold from an exploration company to a junior gold producer, with two million ounces in mineral resources and with tremendous potential for future production and discovery growth.
CMJ: Can you please walk us through the current portfolio and activities at the Buckreef Gold project in Tanzania?
BRAKE SYSTEMS
SM: We are growing the Buckreef Gold project in Tanzania in a low-risk, phased approach, consisting of a low-risk,
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CMJ: Can you please explain the reason for the recent change of the ticker symbol in TSX in 2023?
SM: The ticker symbol in the U.S. on the NYSE-American was already TRX. It was a strategic decision, and one to facilitate marketing and awareness, to change our name to TRX Gold, and at the same time, change our Canadian ticker symbol on the Toronto Stock Exchange to TRX.
The Buckreef project comprises five prospects, namely Buckreef, Bingwa, Tembo, Eastern Porphyry, and Buziba. The Buckreef project itself encompasses three main mineralized zones: Buckreef south, Buckreef main, and Buckreef north.
high-margin open pit gold mining operation and more than two million oz. of gold in measured and indicated mineral resources (at the 16 km2 property). Our company completed its third mill expansion in July 2024 and expects to increase its annual gold production guidance for 2025.
CMJ: What is your growth strategy and the status of the plant expansion?
SM: The strategy is simple: We utilize the positive cash flow from operations to reinvest back into growth activities that are value-accretive to our shareholders. This is achieved by
increasing the milling capacity to increase annual gold production and by drilling to uncover more ounces in the ground. It can also, if value accretive, be for M&A opportunities. The company is debt-free and has not had to raise equity since 2021. This is unique for a junior miner in development.
CMJ: How does Tanzania fare as a mining jurisdiction? How do you compare it to other jurisdictions in Africa, especially West Africa?
SM: Tanzania is in the East part of Africa. It benefits greatly from a mature mining sector, with many Tier 1 gold producers
A view of the open pit at the Buckreef Gold project in Tanzania.
operating some of their most important projects in the country for the last few decades. In fact, Barrick’s Bulyanhulu’s gold mine is about 40 km east of us, and about the same distance to the north of Buckreef is Anglo Gold Ashanti’s Geita mine. These
are what we would call “elephant” sized operations. Because of this maturity, the country benefits from mature infrastructure, skilled labour force, and available mining related materials, contractors, and builders. Everything we need to grow,
CEO INTERVIEW: MINING IN AFRICA
build, and operate can be found in the country, which reduces waiting times and cost versus if we had to rely on a foreign supply chain. The country welcomes foreign investment, demonstrated by the approximate US$2 billion of mining investment in the country in the last two years or so, primarily from either M&A transactions in the sector or newer projects (deposits) being developed (thanks to the increasing price pf gold). Mining makes up about 10% of the country’s GDP.
CMJ: How does TRX Gold interact with local community in Tanzania as part of the company’s social responsibility?
SM: We have been in the country for at least a decade now, so our relationships in the country are very good. We know and understand the people, the politicians, the mining ministries, and the local communities. This makes for a very strong foundation. Along with our JV partner, the State Mining Company, we partner every year on social well-being and community projects for the improvement and sustainability of the communities that surround us and where 100% of our employees and contractors and their families live (up to 600 and counting
employees and contractors working at Buckreef Gold). We set aside a budget to work on projects such as building or improving schools, healthcare facilities, social programs such as skills training, and programs of sort. On site, employees benefit from ongoing health and safety training, skills training, and from time to time we host students for apprenticeships.
CMJ: Finally, how does the future look like for TRX Gold?
SM: The future is very bright. TRX Gold is a unique investment opportunity. We have and will continue to grow in a low risk, phased manner, whereby we will continue to create shareholder value with a focus on non-dilution. Near term catalysts or drivers will be an increase in annual gold production expected for fiscal 2025 and exploration and brownfield drill results, especially from the newly discovered Stamford Bridge zone. Additionally, the price of gold is at an all-time high, with growing public opinion that it will continue to rise. For a low-cost, high-margin project like ours, the future is bright indeed!
Saudi Arabia of lithium THE FUTURE OF MINING IN AFGHANISTAN AND PAKISTAN
Afghanistan and Pakistan possess significant mineral resources that have attracted China’s interest. This fact has shaped what China does to grow its broader economic and geopolitical strategy in the region. This article provides a short survey, for both countries, of the mineral deposits, current mining production, and China’s efforts to increase its influence.
Afghanistan’s mineral resources
Afghanistan is estimated to have mineral deposits worth up to US$1 trillion, including vast reserves of copper, iron, gold, lithium, and rare earth elements. Some of the key mineral resources include the following:
Copper: The Mes Aynak copper deposit in Logar province is one of the world’s largest undeveloped copper reserves. In 2007, a Chinese consortium won a 30-year, US$3 billion contract to develop this site, though progress has been slow because of security concerns.
Iron: Afghanistan has an estimated 2.2 billion tonnes of iron ore reserves, placing it among the top 10 countries for extractable iron. The Hajigak mine in Bamyan province contains 1.7 billion tonnes of high-grade ore.
Rare earth elements: Afghanistan has significant deposits of rare earth elements, crucial for modern technologies. One of the largest deposits is located at Khanneshin in Helmand province.
Lithium: The country has substantial lithium reserves, often referred to as the “Saudi Arabia of lithium.” This metal is essential for batteries and renewable energy technologies.
Gold: Afghanistan has an estimated 2,698 kg of gold deposits along two main belts: from Badakhshan southwest to Takhar and from Ghazni southwest to Zabul. Despite this potential, current production in Afghanistan remains limited because of security concerns, lack of infra-
structure, and political instability. The Taliban’s takeover in 2021 has further complicated the situation, with mining now largely controlled by various factions within the group.
Pakistan’s mineral resources
Pakistan also possesses significant mineral wealth, though perhaps not as extensive as Afghanistan’s. Key resources include the following:
Copper and gold: The Reko Diq mine in Balochistan province is one of the world’s largest undeveloped copper-gold deposits. After years of legal disputes, Pakistan recently reached an agreement with foreign investors to restart the project.
Barrick Gold is targeting 2028 for its first production at Reko Diq copper-gold mine.
Coal: Pakistan has substantial coal reserves, particularly in the Thar Desert. These deposits are being developed with Chinese assistance to fuel power plants and reduce energy shortages.
Iron ore: Pakistan has iron ore deposits in various regions, including Punjab and Balochistan, though they are not as extensive as Afghanistan’s.
Gemstones: The country is known for its gemstone deposits, including rubies, emeralds, and topaz, particularly in the northern areas.
Current production in Pakistan is more established than in Afghanistan, with active mining operations in coal, copper, and various other minerals. However, the sector still faces challenges related to infrastructure, technology, and investment.
China’s influence and ties
China has been actively pursuing economic and strategic interests in both Afghanistan and Pakistan, with a particular focus on mineral resources and infrastructure development. Both
Valley in Hindu Kush mountains, Pakistan.
CREDIT: YURYBIRUKOV/ADOBE STOCK
INTERNATIONAL MINING
countries are part of China’s infamous Belt and Road Initiative (BRI), which aims to create a network of trade routes and infrastructure projects across Eurasia. This provides a framework for Chinese investment in mining and related infrastructure. The China-Pakistan Economic Corridor (CPEC) flagship BRI project involves substantial Chinese investment in Pakistan’s infrastructure, including ports, roads, and energy projects. While primarily focused on transportation and energy, CPEC also facilitates access to Pakistan’s mineral resources.
Mining investments by Chinese entities have become widespread and numerous. In Afghanistan, China has shown interest in several mining projects, most notably the Mes Aynak copper mine. However, security concerns have limited any progress. In Pakistan, Chinese companies are involved in various mining projects, including coal extraction in Thar and potential involvement in the Reko Diq copper-gold project.
China has maintained diplomatic relations with the Taliban government in Afghanistan, positioning itself as a potential mediator and investor in the country’s reconstruction. This approach could give Chinese companies an advantage in accessing Afghanistan’s mineral wealth.
To help ensure the stability of their strategic position, China has increased security cooperation with Pakistan, including joint military exercises and arms sales. This strengthens China’s overall influence in the region and helps protect its economic interests, including mining investments.
China has provided technology and expertise for mineral exploration and extraction in both countries, helping to develop their mining sectors.
Since the very beginning of the relationship, China has offered financial assistance and loans to both countries, often tied to infrastructure projects that can facilitate mineral extraction and transportation.
Geopolitical implications
Despite China’s efforts, several challenges remain in fully exploiting the mineral resources of Afghanistan and Pakistan. Afghanistan, in particular, faces ongoing security issues that hinder large-scale mining operations. The Taliban’s control has added another layer of uncertainty for foreign investors.
Both countries lack the necessary infrastructure for large-scale mineral extraction and transportation, requiring significant investment. Changes in government and policy can affect mining agreements and investments, as seen in both countries over the past decade. Additionally, large-scale mining projects often face opposition because of environmental concerns and impacts on local communities.
However, China’s increasing involvement also raises concerns among other regional and global powers about its growing influence in South Asia. This has led to increased competition and strategic maneuvering in the region. Other countries, including India, Russia, and some Western nations, also have interests in the region’s mineral resources, potentially complicating China’s efforts.
The geopolitical implications of China’s involvement in Afghan and Pakistani mineral resources are significant. By investing in these sectors, China aims to
• secure access to critical minerals for its industries.
• expand its economic and political influence in south Asia.
• enhance its strategic position vis-à-vis other powers, particularly the U.S. and India.
• support its broader BRI objectives of creating new trade routes and economic corridors.
Focusing on Pakistan
China plays a significant and growing role in the development of Pakistan’s mining industry, as evidenced by the following recent agreements and initiatives between the two countries:
China and Pakistan have agreed to promote investment by Chinese firms in Pakistan’s mining industry. This influx of Chinese capital and expertise is expected to boost the development of Pakistan’s mineral resources.
The two countries are strengthening the planning of mining industry parks, including facilities for deep processing of ores. This initiative aims to create integrated mining and processing hubs, potentially increasing the value-added component of Pakistan’s mineral exports.
China and Pakistan have recently agreed to boost mining cooperation and promote the implementation of a pact on strengthening mining development and industrial coopera-
Within the Wakhan Corridor, Afghanistan, view from the fields. CREDIT: TOBIAS/ADOBE STOCK
China is playing a multifaceted and increasingly important role in developing Pakistan’s mining industry. Through investment, technology transfer, strategic planning, and comprehensive cooperation agreements, China is helping to unlock the potential of Pakistan’s mineral resources. This collaboration is part of a broader strategic partnership between the two countries, with potential long-term economic and geopolitical implications for the region.
tion. This agreement provides a framework for expanded collaboration in the sector.
The mining cooperation is part of the broader CPEC, a key component of China’s BRI. This strategic partnership facilitates Chinese investment in Pakistan’s infrastructure and industrial sectors, including mining.
Technology and expertise transfer is increasing at an unprecedented pace. Chinese firms are expected to bring advanced technology and expertise to Pakistan’s mining sector, potentially improving exploration, extraction, and processing capabilities.
Both countries now recognize mining as an important breakthrough area for industrial cooperation. This suggests that mining will be a priority sector for joint development efforts.
China has also expressed interest in strengthening cooperation with Pakistan in areas such as marine oil and gas resources and natural gas hydrates. This extends the collaboration beyond traditional land-based mining.
Pakistan’s government is actively encouraging Chinese investment in the mining sector. For instance, Prime Minister
Shehbaz Sharif has invited Chinese firms to invest in Pakistan’s mining sector, promising full facilitation for the extraction, processing, and export of minerals.
The collaboration extends beyond just extraction, encompassing the entire value chain from exploration to processing and export. This holistic approach could help Pakistan develop a more robust and profitable mining industry.
The Chinese investment in Pakistan’s mining sector is seen as a potential boon for the country’s struggling economy, providing much-needed foreign investment and potentially boosting exports.
In conclusion, while Afghanistan and Pakistan possess substantial mineral wealth, realizing this potential remains challenging due to various factors. China’s active engagement in both countries reflects its strategic interests, but success in fully developing these resources will depend on overcoming significant obstacles related to security, infrastructure, and geopolitical complexities.
Gordon Feller is a Canadian Freelancer.
Trade, tariffs, and minerals
The need to position Canada as an indispensable trading partner
The 2024 U.S. presidential election results hold significant implications for the bilateral trade of critical minerals between Canada and the U.S. These minerals, essential for electric vehicles, renewable energy systems, and advanced electronics, are pivotal to both nations’ economic and strategic interests. Canada, rich in resources like nickel, cobalt, and lithium, plays a crucial role in supplying these materials to the U.S. The election’s outcome will influence trade policies, tariffs, and collaborative initiatives, directly impacting the stability and growth of this vital sector. The very recent announcement of a planned 25% tariff on all goods exported from Canada and Mexico by the U.S. President-elect underscores, in black Sharpie, the urgency for Canada to develop a trade strategy that exempts critical mineral exports from these tariffs.
Promoting Canada’s role in supply chain localization and security is vital moving forward. Emphasizing the interdependence of the mine-to-market supply chain between the two countries positions Canada as a preferred partner compared to less interconnected suppliers. Highlighting the existing and securing more U.S. investments in the Canadian mining and processing infrastructure, including defense-related funding, can reinforce mutual dependencies and justify exempting crit-
ical mineral trade from somewhat arbitrary tariffs.
Crucially, a shift in strategy will be necessary under the incoming administration. While the Biden-Harris administration prioritized clean energy, ESG performance, and decarbonization as key messages for collaboration, these levers are unlikely to resonate with the new regime. To secure favourable outcomes in critical minerals trade with a Trump administration, Canadian companies and the government must tailor strategies to align with the Trump administration’s priorities, which historically emphasize economic nationalism, trade balances, and U.S. strategic security.
Focusing on bilateral agreements that promote mutual economic benefits can align Canadian exports with U.S. priorities such as job creation. Canadian government and companies should frame mineral exports as essential drivers of U.S. manufacturing and downstream industries, appealing to the administration’s emphasis on domestic job growth. Strengthening political and corporate alliances with U.S. policymakers and industry leaders will further reinforce Canada’s indispensability and help mitigate potential trade barriers.
The Trump administration has consistently prioritized reducing U.S. reliance on foreign adversaries, such as China,
Donald Trump was elected to a second term.
WIKICOMMONS PHOTO BY GAGE SKIDMORE.
for critical resources. Canada should position itself as a trusted ally in ensuring secure supply chains for minerals essential to defense, energy, and technology. Emphasizing shared interests, such as North American energy independence and national security, will align Canada’s objectives with the administration’s strategic priorities.
Regional organizations and Canadian companies can further support this narrative through direct agreements with U.S. industries and defense contractors. Highlighting reliable, high-quality critical mineral supply through publicized partnerships can bolster Canada’s reputation as a dependable trade partner. Canadian trade delegations that establish high-profile agreements with measurable economic benefits, such as job creation and investment, will be essential for strengthening this perception.
Given the Trump administration’s preference for bilateral agreements over multilateral frameworks, Canada should prioritize direct trade discussions tailored to U.S. interests. Government proposals emphasizing mutual benefits, such as tariff-free mineral access and enhanced U.S. investments in Canadian infrastructure, should be paired with active participation by Canadian companies. Joint ventures with U.S. firms in processing and refining operations can foster cross-border economic interdependence, making trade barriers less appealing to the administration.
The focus on U.S. job creation and economic growth offers another opportunity. Canada should frame critical minerals trade as a key contributor to U.S. downstream industries, such as EV battery production and renewable energy. By demonstrating how Canadian exports directly support American economic priorities, Canada can strengthen its negotiating position and work to secure exemptions from tariffs.
Building strong relationships with U.S. policymakers, industry groups, and state governments that rely on critical minerals is also crucial. Partnerships with influential organizations, such as the U.S. Chamber of Commerce, and outreach to state leaders and industry associations in critical industries will help mitigate federal protectionist tendencies. Similarly, Canadian companies should collaborate with U.S. corporate
leaders in automotive, defense, and electronics manufacturing to align operations with U.S. sectoral priorities, solidifying long-term trade relationships.
In the broader geopolitical context, Canada can position itself as a strategic alternative to China by stressing reduced reliance on Chinese critical minerals. Aligning with U.S. energy transition and national security priorities strengthens Canada’s role as an indispensable partner. Local communities and individual companies must also contribute by highlighting operational excellence, innovation, and stakeholder engagement, thereby enhancing Canada’s reputation as a reliable supplier.
By aligning with the Trump administration’s economic and strategic priorities, Canada can position itself as an essential partner for critical minerals. A combination of government-to-government diplomacy, corporate alliances, and a strong emphasis on mutual benefits can help ensure favourable trade outcomes for Canada, even under a protectionist U.S. administration. It is important to remember that especially in a world of shifting priorities, Canada’s critical minerals are not just resources, they are the foundation of a shared future.
Today’s critical minerals are the green energy of tomorrow. As global mining consultants, we champion sustainable, responsible processes that see beyond profit to support people and the planet. Through our expertise across the mine life cycle, we meet the needs of now, and guide the industry to where it needs to go next.
wsp.com/mining
Steve Gravel is the manager of the Centre for Smart Mining at Cambrian College.
President Donald Trump and Canadian Prime Minister Justin Trudeau walk along the Colonnade outside the Oval Office, Monday, Feb. 13, 2017, at the White House in Washington, D.C. (OFFICIAL WHITE HOUSE PHOTO BY SHEALAH CRAIGHEAD).
A Canadian miner that is truly international
Rlocated near existing infrastructure, including grid power, transport, and water resources.
Interview with Jorge A. Ganoza, president, CEO, and director of Fortuna Mining on growth and combating political instability
ecently, I had a conversation with Jorge A. Ganoza (JG), president, CEO, and director of Fortuna Mining to discuss the company’s transformation into a renowned mid-tier precious metals producer, and how it is continuing to grow its portfolio in premier international mining regions.
CMJ: As a conversation starter, let’s talk a bit about history: Can you please talk to us about the history of Fortuna Mining and its current portfolio?
JG: Fortuna Mining is a Canadian-based precious metals mining company, with five operating mines and an advanced exploration project located in Argentina, Burkina Faso, Côte
d’Ivoire, Mexico, Peru, and Senegal. We produce gold and silver and generate shared value over the long term for our stakeholders through efficient production, environmental stewardship, and social responsibility.
Fortuna is a public company, with its shares listed on the New York Stock Exchange (NYSE: FSM), Toronto Stock Exchange (TSX: FVI), and Frankfurt Stock Exchange (Frankfurt: F4S).
Our corporate office is in Vancouver, B.C., and our regional head offices are located in Lima, Peru and in Abidjan, Côte d’Ivoire.
Fortuna was founded in 2005. Initially, focused on silver opportunities in Latin America, the company acquired the Caylloma silver-lead-zinc mine located in Arequipa, Peru. A year later, we re-initiated production at Caylloma mine, and
The Séguéla open pit mine in Côte d’Ivoire consists of the Antenna, Koula, Agouti, Boulder, Ancien, and Sunbird deposits, with a mine life of eight years, based on reserves reported as of Dec. 31, 2023. It is
CREDIT: FORTUNA MINING
acquired 76% stake in the San Jose silver-gold project located in Oaxaca, Mexico. In 2009, we acquired 100% interest in San Jose project, and construction began in 2010. In 2016, we acquired the Lindero gold project in Salta, Argentina, and started construction on the project in 2017. In 2021, Fortuna expanded into West Africa by acquiring the Yaramoko mine in Burkina Faso, and the advanced Séguéla gold project in Côte d’Ivoire, and immediately started construction on the Séguéla project; a 3,750 t/d open pit gold mine. The Séguéla mine poured first gold in May, 2023. We also strengthened our presence in West Africa by acquiring the Diamba Sud gold project in Senegal. Today, Fortuna is a seasoned, mid-tier precious metals producer that continues to grow its portfolio in premier mining regions.
CMJ: Effective June 20, 2024, Fortuna Silver Mines Inc. changed its name to Fortuna Mining Corp. Can you please explain the reason for the rebranding?
JG: In the early days of the company, we did not have much money, but we had big ideas, and the company was not well-known. At that time, silver was trading at a good price, and it made sense to focus on it and on our operations in Peru and Mexico, which were two of the largest silver producing countries. It made sense to use “Silver” as an identifier in alignment with that strategy.
Today, Fortuna is a very different company from what it was 20 years ago. With more
than US$1 billion in sales and more than 500,000 oz. of gold targeted in annual production for 2024, gold accounts for 80% of our total sales, and silver accounts for only 10%. The remaining 10% comes from lead and zinc sales. We employ over 5,000 people, with a diverse workforce that includes 16% women.
We believe the old name does not represent who we are anymore, nor it aligns with the future vision of the company. We continue to grow our portfolio in premier mining jurisdictions, and we are pursuing more opportunities in gold, but we have not given up on silver. We remain enthusiastic about both of them, but we have achieved more success in gold; hence, the name change.
FORTUNA’S STRENGTHS INCLUDE THE FOLLOWING:
Operating model: Focused on the West Africa and Latin America regions, backed by experienced leadership with an in-depth understanding of our jurisdictions.
Capital allocation priorities: Strengthening balance sheet, investing in high value exploration projects, and opportunistic M&A.
Precious metals producer: Continuing to grow our portfolio in premier mining jurisdictions.
The Séguéla open pit mine’s 3,750 t/d processing plant.
CREDIT: FORTUNA MINING
CEO INTERVIEW: INTERNATIONAL MINING
CMJ: Last year, I attended the commissioning of the new Séguéla mine in Côte d’Ivoire. How does Côte d’Ivoire fare as a mining jurisdiction? How do you compare it to other jurisdictions in, for example, Latin America?
JG: Côte d’Ivoire is an extremely welcoming jurisdiction for responsible mining investment, and we rate it very highly. The country has a competitive mining code and a strong vision to become a leader in gold production in West Africa and is making significant strides toward this goal. The leaders and government officials are well-educated and have a good technical background and understanding of the industry. Compared to other regions where we operate, Côte d’Ivoire certainly ranks among the most welcoming and supportive jurisdictions.
West Africa offers a prime landscape for the gold mining industry, and we are actively pursuing strategic opportunities as they arise.
CMJ: The company has two mines in West Africa. With the acquisition of Chesser in Senegal, what is the current portfolio and your growth strategy in West Africa?
JG: We first ventured into West Africa in mid-2021 through the acquisition of Roxgold and have pursued steady growth in the region. Since the acquisition, we have grown from one operating mine to two (Yaramoko mine in Burkina Faso and Séguéla mine in Côte d’Ivoire) and added an advanced exploration and development project, Diamba Sud gold project in Senegal, through our acquisition of Chesser Resources.
While major players like Newmont and Barrick are well-established, we see significant potential in the mid-sized producer segment, where competition is less intense. Fortuna has established itself as a strong player within this segment, and we intend to continue building on that strategic advantage.
CMJ: There is an ongoing nationalization pattern of African governments, especially those under military juntas, attempting to exert greater control over their natural resources. Yaramoko mine in Burkina Faso is Fortuna’s highest-grade gold mine, and the government recently nationalized two gold mines, ending legal dispute between rival companies. How does this affect your operations in the West African country?
JG: In the case of the dispute between Endeavour Mining and Lilium, my understanding is that the government intervention yielded a positive outcome. In response to comments by Burkina Faso’s President Ibrahim Traoré in October regarding mining companies operating in Burkina Faso and the possible withdrawal of existing mining permits, we sought direct clarification from the Ministry of Mines and received confirmation that the government has no plans to withdraw existing mining permits which are in com-
San Jose mine in the Taviche mining district, Oaxaca, Mexico, produces silver and gold. The underground mine is operated by Compañia Minera Cuzcatlan S.A. de C.V., a Mexican subsidiary 100% owned by Fortuna.
Yaramoko mine is in the Houndé greenstone belt region in the Province of Balé in southwestern Burkina Faso. In 2023, Yaramoko produced 117,711 oz. of gold.
CREDIT: FORTUNA MINING
pliance with Burkina Faso’s laws. The Yaramoko mine is in compliance with all material laws, and operations continue to be conducted normally.
While the mining environment in Burkina Faso has become more complex in recent years, we continue to find government officials responsive and open to engagement. We are currently focusing investment only within the fence of Yaramoko mine.
CMJ: Moving from Africa to Latin America, how much does the political instability affect Fortuna Mining’s operations?
JG: Operating in developing economies means the rule of law is not necessarily stable. The success of a mining project is dependent on government support. When countries with long mining traditions, like Mexico, are changing the mining concessions law and are making permitting difficult, project developments are hindered. In addition, all these new laws prevent us from using our mineral titles, so we are not able to sustain the capital-intensive construction phase anymore. Finally, Mexico has reserved all open ground mineral operations for the state, so there will be no more private explorations there in the predictable future.
CMJ: How does Fortuna work with local communities as part of the company’s social responsibility?
JG: Our approach to social responsibility starts with understanding the unique development goals of each region where we operate. We aim to become a strategic partner by working collaboratively with local stakeholders to help achieve these goals. Our initiatives are typically focused on key areas such as
education, healthcare, and infrastructure.
In 2023, we invested approximately US$8 million in social responsibility and support programs, and we expect to maintain similar levels of investment this year. We are deeply engaged in each of the communities where we operate, ensuring we listen to their needs and strive to align ourselves as true partners to both our host communities and governments.
In Côte d’Ivoire, for example, we have partnered with the central government to combat cataract-related blindness. To date, we have supported surgeries for nearly 2,000 individuals, making a tangible difference in the lives of those in need.
CMJ: Finally, what are the future priorities for Fortuna?
JG: Looking ahead, our focus is not on reaching the symbolic milestone of one million oz. of annual production in the immediate term. Instead, we are committed to solidifying our position as a leading mid-sized gold producer. We are targeting a production range of approximately 500,000 oz./y, with a strong emphasis on keeping our all-in-sustaining costs highly competitive — at or below the industry median of US$1,500 per oz.
Fortuna’s current reserves amount to just over three million oz. of gold equivalent in reserves and approximately 1.7 million oz. in inferred resources across our portfolio.
While we currently lack the long-life mines that would allow us to project operations for a decade or more, we are actively working to build a portfolio that supports this vision. Over the coming years, we will focus on deploying capital to pursue high-value opportunities as they arise.
Caylloma mine in the Caylloma district of Arequipa, Peru, produces silver, gold, zinc, and lead. The underground mine is operated by Compania Minera Bateas S.A.C., a Peruvian subsidiary 100%-owned by Fortuna. The deposit is a low to intermediate sulfidation epithermal vein system. Based on Dec. 31, 2023 reserves, the operation has a mine life of five years.
CREDIT: FORTUNA MINING
Lindero mine is in Salta, Argentina. The open pit mine is operated by Mansfield Minera S.A., an Argentinian subsidiary fully owned by Fortuna. CREDIT:
Highlights from MINExpo 2024: Technology and equipment
Caterpillar showcased industry leading technologies, cuttingedge innovation and customized solutions for mine sites around the world at MINExpo 2024.
Caterpillar’s MINExpo 2024 experience immersed visitors into the mine site of the future, featuring industry leading technologies, groundbreaking advancements in the energy transition, and first-of-a-kind customized solutions designed to increase customers’ efficiency, safety, and profitability. The exhibit reinforced Caterpillar’s position as the global industry leader in mining technology and showcased the company’s latest innovations to support the energy transition.
The towering, 372-tonne Cat 798 AC mining truck has the highest standard payload in its class and is configured for autonomous haulage with Cat MineStar Command for hauling. “Autonomous technology will help monitor and orchestrate the complex balance of onboard energy, available charging assets, and production targets to achieve the lowest operating costs,” said Marc Cameron, senior vice president, Caterpillar Resource Industries.
Also, Caterpillar’s underground Cat R1700 XE loadhaul-dump (LHD) loader features battery-electric propulsion that produces zero exhaust emissions and generates less heat than a reciprocating engine powered model. Finally, Cat R2900 XE LHD provides a high efficiency switch reluctance electric drive system that meets the mining industry’s needs for bigger payloads, faster loading and lower emissions.
Liebherr’s motto for the event was “Your mining partner.” The company’s executives provided insight into Liebherr’s reliability as a partner for best-in-class equipment, decarbonization solutions, cutting-edge technologies, and service excellence.
During the exhibition, the company made several product announcements, including the unveiling of its autonomous battery-electric T 264 haul truck, the new PR 776 Generation 8 dozer, and the expansion of its integrated technology portfolio, IoMine.
Liebherr and Fortescue unveiled the very first autonomous battery-electric T 264 haul truck. This truck represents the culmination of years of hard work and the joining together of the autonomy and zero emission arms of the Liebherr–Fortescue partnership. The autonomous battery-electric T 264 has a 3.2 MWh battery (developed by Fortescue Zero).
A static charging solution has been developed alongside the autonomous battery-electric truck. The static charger will be available in both manual and robotic versions and includes an automated quick charger of up to 6 MW with a megawatt charging system connector that can charge battery-electric T 264 trucks in 12–58 minutes.
The truck on display was equipped with the Autonomy Haulage Solution (AHS) that was jointly developed by the two companies.
The tires on the T 264 at the exhibition are Michelin 50/80R57 XDR 4 SPEED ENERGYTM (see Michelin’s section below) — the first energy efficient tire for the mining industry. Because they
R1700 XE LHD. CREDIT: CATERPILLAR
The autonomous battery-electric T 264 haul truck. CREDIT: TAMER ELBOKL
Cat 798 AC mining truck. CREDIT: CATERPILLAR
are made with a new energy-saving rubber compound and have an optimized tread with increased flexibility, these tyres help reduce the amount of energy consumed by mining haul trucks. The 50/80R57 XDR 4 SPEED ENERGYTM tires have been shown to reduce fuel consumption by 3.6 % in flat conditions when compared to the Michelin 50/80R57 XDR 250 C tires running on a combustion-engine truck and are expected to have a positive impact on vehicle range for battery-operated trucks.
To highlight Liebherr as a reliable partner for decarbonization solutions, the booth included the R 9400 E 350-tonne excavator, featuring some of the mining product segment’s latest innovations and equipped with the company’s brand-new cable reel solution for increased manoeuvrability.
Liebherr has also launched its expanded technology
portfolio, IoMine, at this year’s MINExpo. The products within IoMine are split into three distinct product families, each dedicated to a specific aspect of mining operations: Operate, Automate, and Maintain.
ABB is developing new solutions every day to help operators address their top needs and to advance the mining industry through electrification, automation, and digitalization. The event showcased ABB’s innovative solutions designed to meet the evolving needs of the sector.
ABB highlighted its eMine portfolio, with solutions for the electrification of mining operations, in alignment with the industry’s shift towards sustainability.
The company demonstrated its cutting-edge automation and digitalization technologies designed to optimize mining operations. Internet of things (IoT) and artificial intelligence (AI) tools showcased how digital transformation can drive greater efficiencies and extend the equipment life.
ABB’s commitment to sustainability was evident in its focus on the transition from diesel to electric-powered mining and conveying equipment. This transition is crucial for reducing the environmental impact of mining activities and promoting a greener future. High-horsepower, low-voltage electric motors, medium voltage motors, and a range of low and medium voltage drives were on display facilitating conversations around sustainable mining.
ABB’s booth was a hub of activity, with global experts discussing the company’s solutions and providing insights into how technologies can address the unique challenges faced by mining operators. Collaborations with other industry players, such as Komatsu, further highlight ABB’s dedication to driving innovation and sustainability in mining.
Komatsu’s show theme was “A sustainable future together.” Komatsu featured equipment, technology, and service solutions that address sustainability and electrification, surface mining, underground hard rock mining, underground soft rocking mining, blasthole drilling, quarry and aggregate mining, and crushing.
The R 9400E electric excavator.
MINEXPO 2024
The “biggest” equipment in display was the first commercialized truck in the new Power Agnostic series, the Power
Agnostic 930E truck. This cutting-edge haulage truck represents a significant milestone in Komatsu’s decarbonization strategy, offering unparalleled flexibility for mining operations transitioning toward zero emissions. The 930E sets a new standard in mining equipment by accommodating a wide range of current and future power sources, including diesel, battery, and even hydrogen fuel cells.
The 930E is built on Komatsu’s modular power-agnostic platform, allowing customers to future-proof their operations with a versatile approach to decarbonization. This platform enables mining companies to start with conventional diesel engines and gradually transition to cleaner energy sources as needed, including utilization of trolley assist for diesel or as one of the future dynamic charging solutions for battery trucks to reduce fuel consumption and emissions.
Komatsu also debuted the WX15 Load-Haul-Dump and the HX45 mining trucks, marking a major milestone in their underground mining journey. These machines were developed with expertise from Komatsu’s recent GHH acquisition.
Haver & Boecker Niagara featured its latest screening equipment and technology at MINExpo 2024. The company showcased a fullsize Niagara F-class vibrating screen, along with other mining solutions. CMJ interviewed Karen Thompson, president of North American and Australian operations at Haver & Boecker Niagara.
“MINExpo presents an exciting opportunity to have great conversations with mining industry members, and for both new and existing customers to see our mineral processing equipment up close,” said Thompson. “We are proud to be known not just as an equipment manufacturer to our customers, but as a partner with innovative end-to-end solutions to improve their operation,” she added.
The Niagara F-class vibrating screen is designed with new technology to simplify maintenance. This next-generation screen is now primarily built using vibration-resistant lockbolts instead of traditional welding, enhancing structural integrity and making maintenance more efficient and cost-effective. Lockbolts secure the bar rails to the cross beams, allowing for easy replacement if they wear out.
Also displayed were Niagara exciters, their signature brand of vibrating screen exciters, known for their durability and reduced maintenance. Additionally, the company presented its Pulse Diagnostics Portfolio, a suite of tools that monitors the health of vibrating screens to identify issues before they become critical.
Hitachi Construction Machinery Americas highlighted the latest advancements and solutions designed to revolutionize the mining industry and demonstrated how their innovative
technologies and reliable solutions are contributing to the realization of a safe and sustainable society. Hitachi Construction Machinery has been innovating electric technology and solving customer problems for more than 70 years. However, their electrification journey began in 1910 when the founder of Hitachi Limited designed a five-horsepower electric induction motor. Today, they continue to push the boundaries of innovation, developing products and solutions that help customers actively reduce CO2 emissions.
One of the standout innovations is the Hitachi Construction Machinery AC-3 truck, which allows operators to switch seamlessly between diesel mode to an optional trolley mode. In trolley mode, the truck is powered via an overhead catenary line, reducing emissions, and enhancing efficiency.
This system enables large, electrically powered dump trucks to draw power from overhead trolley lines on uphill roads and run on batteries in areas without overhead lines. Trucks with this configuration can achieve approximately twice the speed of diesel trucks on uphill slopes when in trolley mode.
Adding to their suite of environmentally friendly machinery is Hitachi Construction Machinery’s EX-7 electric excavator. These machines offer numerous benefits over their diesel variants, not only helping reduce CO2 emissions, but also eliminating the need for consumables like fuel, engine oils, and disposable oil filters. The EX-7 electric excavator represents a significant step towards sustainable mining operations reducing both operational costs and environmental impact.
A highlight of Hitachi’s presentation was their Autonomous Haulage System (AHS). This system combines advanced technologies with Wenco International Mining System’s fleet management system (FMS) to enable unmanned operation at open-cut mines, optimizing both efficiency and safety.
Sandvik Mining and Rock Solutions showed off the updated Pantera DP1510i drill rig for a hole diameter range of 89 to 152 mm. While the rig redesign covered all its key components, the heart of the new rig is a new, more powerful rock drill with 15% more efficient conversion of hydraulic power to percussion energy, translating directly either to lower fuel consumption or higher penetration rate.
The updated Pantera DP1510i also makes the operator’s life easier with advanced digital solutions: the RockPulse system to ensure optimized drill bit response, increased tool life, and feed level adjustment; the iClean option to provide an easy automated drilling sequence through the overburden; and feed-totram automatics to enable fast and easy transition from the drilling position to tramming position with a single button push. Another innovation displayed at Sandvik’s booth was its new
Komatsu’s Power Agnostic 930E truck at MINExpo 2024.
The AC-3 truck. CREDIT: TAMER ELBOKL
The EX-7 electric excavator.
CREDIT: TAMER ELBOKL
The Pantera DI650i is redesigned with a new, more powerful rock drill.
battery-electric concept surface drill rig — a testament to the company’s mission to gear its value chain towards net-zero emissions.The new battery-electric concept surface drill rig is set to accelerate decarbonization efforts in surface mining. The first in its size class, the BEV can drill holes up to 229 mm in diameter with its DTH hammer and seamlessly blends the autonomy of battery operation with the continuous endurance of a power cable. The battery pack lasts up to one hour of drilling or up to seven hours of tramming. The battery is primarily intended for tramming and drilling individual holes, while the bulk of production relies on power supply via more than 180 metres of tethered cable. Battery operation means more freedom and flexibility, and higher utilization rates, as the rig can start drilling immediately while the cable is being set up.
The Leopard DI650i Gen2, an even more autonomous and connected “diesel-powered,” self-contained, and crawler-mounted rig for a hole diameter range of 115 to 229 mm, was also launched. This rig features a new MicroFeed system for unprecedented accuracy in feed control. The precise control of the feed force and feed speed will often make a floating sub between the drill string and the rotary head unnecessary. The new rig also includes a new breakout table to eliminate dirt accumulation problems for easier pipe changes and better serviceability.
Orica showcased a range of cutting-edge solutions across its four key verticals from Orica digital solutions, mining, quarry
and construction, and specialty mining chemicals. A major highlight was the TREAD MMU truck, showcasing the best in technology with a BlastIQ and 4D enabled Mobile Manufacturing Unit. The revolutionary 4D bulk explosives system matches a wider range of explosives energy to changes in geology in real time, offering unprecedented flexibility and efficiency in blasting operations.
In other surface and underground blasting technologies, Orica displayed WebGen, the world’s first wireless initiating system. Revolutionizing mining, WebGen Wireless primers have been the catalyst of many innovative mining techniques improving safety, boosting productivity, maximising blast flex-
ibility, and reducing mining complexities of blasting in sensitive areas or close to communities.
Orica Digital Solutions offered “Orebody Intelligence” with Axis Mining Technology, enabling customers to gain accurate insights into their orebodies from the outset, leading to informed decision-making throughout the value chain.
For blast design and execution, OREPro 3D software application predictively models blast movement without hardware or surveys, enabling iterative blast design for outcomes and improved grade control. SHOTPlus is a highly performant and intelligent blast design product for surface and underground operations. The application is the centre point for drill and blast decision-making.
Cummins shared how Bridge Technologies close the gap between what is practical and possible. Bridge Technologies will be used to support the mining industry’s energy transition. Speaking at MINExpo 2024, Molly Puga, executive director of strategy, digital, and product planning, highlighted that the global need to reduce emissions in mining will be achieved most effectively with the support of power solutions that can be implemented today, with a low total cost of ownership (TCO) and a high level of performance for miners.
Cummins anticipates that the mining industry will need multiple power technology solutions for the foreseeable future. The energy transition in mining will be driven by the availability of solutions that help achieve TCO parity or improvement, combined with the ability to meet varied Environment Sustainability Goals in operation. Whilst longer term, zero-emission technologies — such as full battery-electric solutions and hydrogen — have exciting potential, a lack of infrastructure availability, high upfront costs and performance of current equipment limits how effective this technology can be over the coming years.
Puga elaborated that Cummins will continue to invest in its internal combustion engine range whilst advancing its Destination Zero strategy for mining, which includes further development of two bridge pathways — hybrid and clean fuel capabilities. Both technologies provide fuel savings and emissions reductions from well-to-wheel.
Throughout MINExpo, Cummins also showcased the company’s commitment to advancing internal combustion technology, which serves as the base for both Bridge pathways in development. Visitors were able to explore Cummins’ latest power solutions, including the QSK60 and QSK95 engines.
Attendees also had the opportunity to see Cummins’ PrevenTech digital solutions in action.
Shell Lubricant Solutions experts were available at MINExpo to
discuss the products and services offered by both. They spoke about many industry topics, including the role of lubrication in a smart mine ecosystem, challenges miners are facing, and how advanced lubricants drive operational efficiency and sustainability.
Shell is leading the way with cutting-edge lubricants that boost miners’ productivity, reduce operational costs, and align with the industry’s growing
Next Gen SHOTPlus a groundbreaking evolution in blast design. CREDIT: ORICA
Shell Canada Lubricant Solutions team at the exhibit. CREDIT: TAMER ELBOKL
MINEXPO 2024
focus on sustainability. This includes the immediate and longterm benefits of using high-performing lubricants, showcasing how they contribute to both financial savings and environmental goals for mining companies. Miners must operate more sustainably while lowering the total cost of ownership, which means improving operational efficiency. Shell’s high-performance lubricants increase the productivity of equipment operations. An essential part of mining operations is using the right services to ensure equipment reliability. Shell services for mining include Shell LubeExpert, Shell LubeAnalyst, Shell RemoteSense and more.
MINING TIRE INNOVATIONS
Michelin revealed two groundbreaking solutions during MINExpo 2024 that are set to advance safe, smart, and sustainable mining, including the industry’s first-ever energy-efficient tire: MICHELIN XDR 4 SPEED ENERGY (see also Liehberr’s section above), a tire that enables rigid dump trucks to use less energy thanks to an optimized, more flexible tread and a new energy-saving rubber compound, and MICHELIN BETTER HAUL ROAD, a digital solution to optimize haul road maintenance at mine sites. Known worldwide for on and off-road tires, Michelin created the Better Haul Road, a digital solution designed to enhance safety and efficiency in mining operations. The solution was developed with the collaboration of three mines around the world.
Michelin Better Haul Road provides a solution that allows mine managers to keep a close eye on these critical infrastructures. By monitoring haul roads in real time, operators can swiftly identify incidents such as debris or road damage that may arise. The system then allows them to register the issue within the app or through dispatch with the web, track its status via the app or web, and efficiently assign a repair team to address and resolve the problem.
Better Haul Road allows prioritization of data-driven actions and supports a mine’s constant pit evolution with cleaner haul road conditions.
Bridgestone. The Bridgestone booth showcased the company’s new “Smart On-site” program, a seamless, customizable solution for fleets that combines premium tire products, mobility solutions, and industry-leading service into a single package. By developing a comprehensive approach to mining operations, Bridgestone
Bridgestone debuted its new Smart On-site program at MINExpo 2024.
CREDIT: BRIDGESTONE can offer enhanced connectivity and optimized performance for customers.
Bridgestone OTR also presented the following:
• The new V-Steel Mining Smooth Tread (VMMS) and V-Steel Mining D-Lug (VMDL), two innovative tires designed with subterranean technology for the underground hard rock segment.
• Additional intelligent products, including the new Firestone SRG DT LD 2, one of the company’s largest tire products for the surface mining segment.
• Integrated technologies like IntelliTire and Toolbox provide data-driven insights.
• Advanced on-site tools offered through Bridgestone Engineering Solutions.
Kal Tire showcased inspiring innovations at MINExpo. Those curious about some of the most-anticipated solutions developed by Kal Tire’s Mining Tire Group had the chance to experience the company’s innovations first-hand at MINExpo 2024. From autonomous tire inspections to a new postrecycling process that refines carbon ash, KalPRO innovations created a buzz among those exploring viable and impactful ways to enhance sustainability, safety, and productivity.
“Our journey into mining tire management innovation has allowed us to help customers reach goals in impactful ways, and it has also allowed us to make our work around the wheel safer,” says Dan Allan, senior vice president, Kal Tire’s Mining Tire Group.
One of those solutions is KalPRO WheelJaws, which eliminates risk during the last and most dangerous step during tire installation and removal. At MINExpo, people had a chance to see firsthand how WheelJaws’ secure, remote-controlled clamps take technicians out of the danger zone.
Today, WheelJaws is just one KalPRO solution among a collection of six tools and six unique offerings.
Kal Tire’s MINExpo visitors also had the chance to take in a virtual tour of its thermal conversion OTR tire recycling facility in Chile. The facility helps mines solve the challenge of scrap tires and promote a circular economy by making the best use of recycled rubber. Kal Tire also unveiled its new process that refines carbon ash to high grade recovered carbon black (rCB).
Smart On-site programs were co-created with customers and utilized the latest operational data to establish a one-of-akind suite of solutions for each customer to address pain points. This comprehensive approach enables operators to work optimally and leverage real-time and historical data insights to continuously improve. Smart On-site is the latest example of Bridgestone’s commitment to enhancing the mining industry with modern technologies and data-driven insights.
Mines looking to keep tires in production and divert scrap had the chance to learn more about Kal Tire’s newly expanded Maple Program. Customers who choose Kal Tire retreads and repairs receive a Maple Program certificate with verified data on the carbon and fuel emission savings compared to buying a new tire. Now, Maple Program includes all tire sizes from 25 inches and up, and customers now also receive the emissions saved in transportation from a regional repair facility or on site versus a distant new tire manufacturer.
Lastly, those interested in learning more about the company’s TireSight autonomous tire inspections got to view a demonstration of a mini haul truck passing by a thermal imaging camera before setting off a chain of automated events that ensure critical tire issues are caught and addressed early — enhancing safety, productivity, and tire life.
Kal Tire’s TireSight. CREDIT: KAL TIRE
Asymmetrical Hard Rock Body for underground hauling environments
Recently, Philippi-Hagenbuch, a global leader in off-highway haul truck customization, expanded its custom engineering portfolio of HiVol Hard Rock Bodies to include asymmetrical bodies that are optimized for underground environments. Philippi-Hagenbuch manufactured and delivered the inaugural four bodies for articulated John Deere 260E haul trucks working in an underground limestone mine in Kansas City, MO. The design maximizes each truck’s hauling capacity while allowing for safer, more efficient loading to account for environmental constraints, such as clearance and visibility.
We recognize that every mine is different, so it has always been our focus to address our clients’ needs with custom-engineered and manufactured solutions. In a dark underground space, these custom-engineered bodies make a significant difference in terms of increasing the safety and efficiency of the loading process.
Each Hard Rock Body for the underground limestone mine has a total volumetric capacity of 33.5 tonnes, an increase over the 27.4-tonnes OEM body capacity. The custom design features a hoisted, low-side body in which the passenger’s side is taller than the driver’s side to factor in loading conditions, such as the loader itself, mine height, loading direction, and cycle time. This asymmetry gives clearance for the loader on the driver’s side and allows the passenger side to act as a backboard to catch material as it is loaded, avoiding unnecessary spillage.
To ensure an equal distribution of weight and improve sta-
bility, the bodies are engineered with a floor that is elongated on the driver’s side and shortened on the passenger’s side. Widening the body lowers the centre of gravity, making the truck more stable and increasing operator safety. Engineers addressed the unique size of the offset body by customizing a cylinder mount with shortened OEM cylinders to meet clearance specifications and ensure the body of the truck did not hit the ceiling in the underground mine when dumping.
Although the cylinder mount required engineering, there was no need to design a brand-new cylinder for it. Our philosophy is to use as many OEM body-mounting components as possible so that it is easier for clients to replace wear parts, minimizing maintenance and downtime.
Each body is built exclusively with high-strength, abrasion-resistant Hardox 450 steel for robust durability to handle extreme mining environments. Additionally, the bodies come equipped with a custom-engineered Autogate tailgate to maximize capacity and prevent spillage from the back of the truck. These tailgates are uniquely designed to match the asymmetrical shape of the custom body and the natural angle of repose of the material being hauled.
This design, while engineered for a specific mining operation, offers potential benefits for a wide range of operations with underground haul trucks.
Josh Swank is Philippi-Hagenbuch’s vice-president of sales and marketing and chief growth officer.
A haul truck body that maximizes hauling capacity while allowing for safer, more efficient loading to account for mining environment constraints such as clearance and visibility. CREDIT: PHILIPPI-HAGENBUCH
Asymmetrical bodies that are optimized for underground environments.
CREDIT: PHILIPPI-HAGENBUCH
By Donna Beneteau and Bruce Downing
What have you done today that did not involve a mineral?
Digging deeper: Mining a minerals’ message (Part 2)
If people use any mineral in any form, that mineral holds value. In this article, we define the “natural resources value chain,” wherein natural resources can be categorized by their value as solids (including rock and minerals), liquids, or gases. Generally, all commodities require some form of industrial processing to increase their value beyond their natural state, even if it is as simple as sorting gravel by size. Humans benefit from various types of natural resource deposits.
In the “rock value chain,” mineral(s) are used in their natural rock form, directly as extracted from nature with minimal processing that maintains the material’s natural state (e.g., cutting and polishing granite for countertops, screening gravel, or carving jade). Soil is an important component in the rock value chain, as they contain mineral particles derived from the weathering of rocks. These minerals, when subject to geochemical weathering, dissolve and release elements such as calcium, magnesium, and iron, which serve as essential plant nutrients. Plants require these nutrients for growth, and in return, they absorb carbon dioxide and produce oxygen through photosynthesis. The plants help offset some of the carbon dioxide released by human processes, such as making cement from limestone.
The “mineral value chain” benefits us when nature compiles visible quantities of elements and crystals in one place (e.g., native gold and copper, diamonds, and gems) or in large
enough quantities at lower grades, making industrial processes necessary for extraction, mineral processing, and refining to create final products (e.g., cell phones).
The “liquid-gas value chain” also provides valuable resources in liquid or gas form. Each link in these chains benefits different stakeholders: sellers through sales, processors through refining, and customers through the utility of the final product.
All minerals are composed of various elements from the periodic table in different proportions. Occasionally, the Earth provides pure elements, like gold nuggets or native copper, which are both minerals and metals, consisting of just one element. Some minerals, prized for their rarity and appearance, are considered precious and are used in jewelry or as investments (e.g., topaz, emerald, and sapphire). Less flashy minerals are more common and are used for industrial purposes, such as building construction. In the “mine-to-market value chain,” elements like gold or copper are extracted and refined so they can be used in manufacturing various products. Nature provides access to minerals through various deposit types, allowing a commodity like gold to hold value both in its native form and through processing of lower-grade mineral deposits.
The Canadian Minerals and Metals Plan, released by Natural Resources Canada in March 2019, has marked a significant moment in Canada’s minerals history, as evidenced by a surge in discussions on “critical minerals” in the media. However,
we argue that focusing on popularity using this terminology overlooks other important minerals. Perhaps the phrases “technology minerals” or “strategic minerals” would be more representative of their need, while not diminishing the importance of other minerals. According to the document, Canada produces around 63 minerals and metals while only 34 have been identified as “critical.” While it is encouraging to see minerals gaining mainstream attention, we contend that this number is quite limiting. A more comprehensive quantification would enhance public understanding and education about the full spectrum of minerals.
Have you ever driven on the Trans-Canada Highway through Thunder Bay? It is a lovely scenic route and worth the drive. Just off the road are amethyst mines that are often overlooked when considering the “broader natural resources value chain” in Canada. These mines, like many other mineral resources, hold intrinsic value that should be recognized. Should we evaluate the mineral value chain solely in terms of “industrial” dollars? This narrow focus, particularly in overarching categories like gemstones, might contribute to why many Canadians do not fully recognize how mining impacts their daily lives. From farming and gardening to everyday use, metal tools and equipment are integral. We envision a future where everyone acknowledges the inherent value of all resources the Earth provides, whether directly or indirectly, broadly and within a given country such as Canada.
We need a definitive metric for what is considered a mineral with value. We argue that commodities should be recognized
First released in 2021, Canada’s critical minerals list was updated in 2024 in consultation with provinces and territories; as well as exploration, mining and manufacturing industries and associations; and Indigenous organizations and communities. New to the list in 2024 are three minerals:
• High-purity iron — Essential to green steel making and decarbonization
• Phosphorus — Essential for batteries and food security
• Silicon metal — Essential for semiconductors and computer chips
Canada’s 2024 critical minerals list.
GOVERNMENT OF CANADA
MINING EDUCATION, TRAINING, AND WORKFORCE
once they enter a financial transaction within an organized market. A cool looking pebble a child finds and gives to a friend has not been part of a financial transaction within an organized market. If a farmer sells field stone to a landscaper, that stone would become part of the value chain. To be considered a commodity in the economic sense, it generally needs to be part of a structured market where it is bought, sold, or traded, with transactions that are recorded and taxed. While informal transactions (like children’s trading rocks) may not involve taxes, commodities that are part of formal trade and business activities are subject to taxes and regulations. Until pet rocks start powering our devices like a battery, they might just stay outside the value chain — no taxes required!
We encourage the Canadian federal government, Mining Association of Canada (MAC), and industry stakeholders to create a readily accessible and comprehensive list of all mineral commodities produced throughout Canada’s history. While we appreciate that MAC identifies a broad range of 77 minerals in their “Facts and Figures” report (row 2 of Table 1 is based on the 2022 report), we have sought to expand the Canadian list of minerals by incorporating commodities identified within the Historical Canadian Mines HUB. This number reported by MAC is already greater than the F\federal government’s reported number of approximately 63.
In its critical minerals document, the federal government lists rare earth elements (RRE) as one critical mineral, when there are up to 17 different elements captured as RRE. The same applies to the platinum group metals (PGMs), which can be further differentiated into six different PGMs. Does this mean there are 34 or 57 critical minerals, or somewhere in between? If minerals are critical, should not they be specified by name?
We built a list using more specific geological information (Table 1), based on the commodities listed in the Canadian Historical Mines HUB (row 3 of the table). This list compiled from geologists across the country more than doubles the lists from rows 1 and 2. On the HUB’s expanded list, gemstones, RREs, and PGMs are categorized separately. Additionally, we must account for various names for construction and synonyms for certain minerals. Should items like cement and lime be on the MAC and HUB’s list, and brick be on the HUB’s list, given that they are manufactured products? We do not know. That is for debate.
We invite those working with minerals to provide information on any unique geological resources that may be missing, so we can incorporate these minerals into a comprehensive list for Canada. Then, minerals could be categorized into metallic, non-metallic, industrial, fuels, or other relevant categories. Please review both our flow chart and these lists and let us know if they are complete. With regards to the minerals list, which names should be used for duplicates, and which items should be removed? Additionally, we need to consider whether minerals that are no longer produced should be included in a historical list, while currently produced minerals should be listed as active. Minerals are like books — each one holds the potential for countless stories. By helping us build a comprehensive list of these invaluable resources, we can create an educational tool that highlights the significance of the minerals we rely on. Once this foundation is in place, the stories can truly begin to unfold.
Connections within the mining industry can expand our knowledge. Donna Beneteau is an associate professor in geological engineering at the University of Saskatchewan. Bruce Downing is a geoscientist consultant living in Langley, B.C.
Table 1. Aspiring to towards a comprehensive list of minerals for Canada.
Canada’s Critical Minerals (34)
Government of Canada (2024)
Canada’s Commodities
Mining Association Canada Facts and Figures (2022)
AUTOMATION’S NEXT FRONTIER: Intelligence in mining
The theme of this year’s MINExpo was unmistakable: Automations that are reshaping the industry. From Caterpillar’s fully autonomous loaders to robotic companies eliminating on-site safety concerns, the scale of these intelligent solutions signals a transformation toward intelligence-based automation.
Automation in mining has been centered on engineering for decades — conveyor belts, robotic arms, and self-operating machinery that boosted productivity by reducing manual labour and human error. These mechanical systems enhanced efficiency bound by constraints of operation upstream. Data management automation redefined how companies handle vast information troves. Cloud solutions offer scalability and flexibility, enabling real-time operational oversight. Yet, in the chaotic and heterogeneous realm of chasing ore deposits where data volumes have surged exponentially, geologists still bear the burden of interpretation because of the sub surface’s inherent complexity.
A leap beyond mere mechanization or data processing is intelligence-based automation! This form of automation does not just execute commands; it comes to adapt, learn, and anticipate to better constrain geological variables and support operational decision making. Intelligence on variability of ore zone
on daily basis provides critical insights to optimize ore extraction, grade control, and real-time adjustments. In an industry where incremental improvements can translate into millions saved, such intelligence offers a significant return. Whether optimizing blasting grid placement or predicting supply chain disruptions, intelligence-based automation unleashes downstream mechanical and data automation.
A close look at the key stages of the mining process helps better grasp the scale of this disruption. The mining process is comprised of drilling and blasting; loading and hauling; crushing and grinding; concentration; and smelting or refining. Efficiency gains early in this chain create a snowball effect, amplifying benefits downstream. Poor separation of ore from waste at the mine face marginalizes overall performance. Suboptimal positioning of blast hole grid can ripple through operations — more accurate separation means loaders handle less waste, boosting their efficiency. Consequently, the milling process benefits from higher ore grades, improving throughput and reducing energy consumption.
Realtime refinement of block model debottlenecks downstream production efficiency and delivers substantial cost saving across the operation. Relying on coarse models intended for resource estimation during production can be disservice to
Team members during a pilot in an open pit gold mine in Atlantic Canada to deploy technology to characterize the ore body on the face of the pit. CREDIT: SCIENT
TECHNOLOGY: AUTOMATION
engineering investment downstream where we count minutes and seconds to calculate gained efficiency. This practice should have been long gone!
However, hurdles remain in mining to adapt new technologies, and the absence of one-size-fits-all solutions impedes widespread adoption of intelligent systems. The behavioural cost of adapting to granular-scale intelligence is significant. A data-driven culture can actionable insights into daily operations — a shift that requires embracing agile methodologies and continuous improvement; areas where the industry has traditionally lagged.
Implementing intelligent blasthole positioning and advanced ore-waste separation technologies also demands real-time, purpose-fit intelligence before the shovel hits the ground. In the high-stakes environment of mineral extraction, delays or data inaccuracies can cascade into costly inefficiencies. The solution must process geological data instantaneously and adapt to each site’s unique conditions — a challenge that offthe-shelf solutions rarely meet. It also calls for engineers who think like geologists and vice versa!
Scient is stepping into this gap, providing hardware and software infrastructure for real-time ore body knowledge at mine sites. Scient has deployed its technology on diamond drill core samples at the tale of exploration, the face of open pit mines, and on chips coming out of blast holes before engaging shovel.
This sweep of analysis at micro and macro scale offers unparalleled control over mining and excavation process — something the status quo still inherently lacks. The technology refines geological models through identifying alteration patterns and minerals invisible to the geologist’s eye. Scient’s technology application in the production stage — where the environment is better constrained — enhances the understanding of mineralization for precision mining.
The winners of automation challenge are those who prioritize automation of ore body intelligence to avoid marginalizing mechanical and cloud-based automation. In mining, where stakes are high and margins thin, such integration promises not just cost savings but smarter, more responsive operations.
Masoud Aali is the CEO and founder of Scient. He holds a PhD in exploration geophysics and has over a decade of experience across various natural resource exploration sectors. Prior to founding Scient, Masoud held a postdoctoral entrepreneur fellowship at Polytechnique Montreal through IVADO (Institut de valorisation des données), where he led initiatives to bring cutting-edge signal processing and machine learning research into commercial applications for characterizing subsurface properties.
The afterlife of Pine Point
The afterlife of Pine Point
CREDIT: LISA MURDICK/WWW.PINEPOINTREVISITED.COM/
The gravel highway leading east from Hay River, Northwest Territories, features a relatively uniform (some might say monotonous) landscape of flat, spruce and jack pine forest. About 40 kilometers outside of the highway’s terminus at Fort Resolution, a few rock piles near the side of the highway stand out in bold relief. A quick left turn on an unmarked paved road, and one enters a grid of streets, sidewalks, and parking lots — but there are no buildings anywhere. Travel around the site, and it is not hard to stumble on one of the many large open pits that have filled with water, often coloured a brilliant azure blue. Brown grass covering abandoned fairways is all that remains of a nine-hole golf course. Although you might see the odd person, the site is completely abandoned, an industrial ruin that is a mere shadow of what was here before.
From 1964 to 1988, the Pine Point lead-zinc mine operated on the site, one of the biggest and most important mineral
developments in the Northwest Territories. Located on the south shore of Great Slave Lake, prospectors surveyed the site as early as 1898, but development only accelerated 50 years later, when the Canadian government granted Consolidated Mining and Smelting Company (CM&S) a 1295-km2 concession at Pine Point with exclusive exploration rights. At the time, the government regarded Pine Point as the centrepiece of its northern development program, eventually offering nearly $100 million dollars to help build a railway, highway, and hydro dam to kickstart the mine.
To house the mine’s large workforce, the government and CM&S envisioned an orderly, planned town, that would be neither a hardscrabble camp nor a company-owned settlement. Instead, the government and industry would create an idyllic, suburban-style town, with high quality housing, top-notch schools, and ample recreational opportunities. Pine Point might lack the local colour of the frontier mining town, but its
Abandoned street in the City of Pine Point.
CREDIT: JOHN SANDLOS
Ariel shot of part of the City of Pine Point.
designers gladly traded saloons and dance halls for a stable, family-oriented town that would retain workers in a relatively remote location.
The plan worked out spectacularly well. The 1200 to 1500 people who lived in Pine Point at any given time remember it as an idyllic town, so much so that an active online community of Pine Pointers has kept the town “alive” on the internet, posting photos and memorabilia to the “Pine Point Revisited” website organized by local legend Richard Cloutier, who sadly passed away in 2021. Inspired by Cloutier, media artists Paul Shoebridge and Michael Simons created a web-based interactive documentary, “Welcome to Pine Point,” that mixes photos, videos, and residents’ memories to create a nostalgic reverie for Pine Point. One former resident summed up the prevailing sentiment: “Looking in, it is hard not to think that it was a great time to be alive and up north, in a time before seatbelts and sunscreen, when you could still pull block-long wheelies without fear of judgement or consequences.” The photographs and film footage show a modern town with exceptional recreational opportunities: baseball, organized basketball, the aforementioned golf course, a curling rink, outstanding fishing, and an arena (the documentary features remarkable footage of an ice dance performance of The Wizard of Oz). As one scrolls through “Welcome to Pine Point,” it is hard to disagree with one resident’s statement that, “most Pine Pointers think their hometown was the best place on earth to have lived.”
said it was hard to move back to Fort Resolution (a smaller town with more limited services) after the mine closed.
When the mine did finally close in 1988, the company either flattened or moved all the industrial and residential buildings, leaving the ghost town that remains today. While some of the houses and other buildings could be moved elsewhere (the arena ended up in Fort Resolution, for instance), a major reason for dismantling the town was so squatters would not drift in and inhabit what was no longer an official town.
For many Pine Pointers, the fact the town no longer exists accentuates the fond memories. Their former home is frozen in memory at its absolute best. As a place that has been wiped off the map, it can never change for the worse. According to many former residents, demolishing the town was better than witnessing its slow decline.
The nearby Dene community of Fort Resolution has a somewhat more mixed recollection of Pine Point. When I participated in an oral history project about Pine Point in 2009, many in the community expressed frustration that the highway to the mine was not extended to their community until 1972, making it difficult to access employment at the mine. Others noted the lasting impact of pits, haul roads, seismic lines, and the tailings ponds on hunting and trapping activities in the Pine Point area, recalling the many ways the mine had changed the land-based culture of the Fort Resolution Dene.
Despite these issues, residents of Fort Resolution who moved to Pine Point were almost unanimous in their praise for the town. Many said it had the best of the best of everything, and that they would move back “in a second” if it were ever re-built. While some remembered isolated incidents of racism, most testified to the remarkable social harmony in the town, and the fact that everybody looked out for one another. Some
For all the successes at Pine Point, the heyday of family-oriented mining towns was coming to an end by the early 1980s. The last incorporated town built specifically to support a mine was Tumbler Ridge, B.C., incorporated in 1981. Canadian mining companies have largely turned to flying workers in and out of well-serviced camps. What is lost with such arrangements is the community cohesion and the strong bond between people and place that occurs in mining towns such as Pine Point.
For the “Pine Point Revisited” site, see https://www.pinepointrevisited.com/. For the “Welcome to Pine Point” web documentary, see https://www.nfb.ca/interactive/welcome_to_pine_point/.
John Sandlos is a professor in the History Department at Memorial University of Newfoundland and the co-author (with Arn Keeling) of “Mining Country: A History of Canada’s Mines and Miners,” published by James Lorimer and Co. in 2021.His new book on the history of Giant Mine (also co-authored with Arn Keeling), will be released with McGill-Queen’s University Press in 2025.
One of the large open pits that have filled with water in Pine Point.
CREDIT: JOHN SANDLOS
ON THE MOVE
Executive, Management and Board Changes in Canada’s Mining Sector
TOP MOVES IN THIS ISSUE
Stefan Sklepowicz is the new CEO at Kirkland Lake Discoveries. He is a seasoned executive with experience in strategic planning, corporate development, and forging strategic partnerships. He will work closely with the executive team to refine the company’s narrative, ensuring it is communicated to shareholders and potential investors. His ability to identify and capitalize on market opportunities and his ability to build strong relationships will make him invaluable to the company’s success.
Robert Scott, the new CFO at Outcrop Silver, is an accomplished professional with 20+ years of experience. He is a CPA, CA and a CFA Charterholder and has spent the last 18 years as a senior officer and director of a number of TSXV-listed companies. In that time, he has helped raise in excess of $200 million in equity and has gained extensive experience in initial public offerings, reverse takeovers, corporate restructuring, and mergers and acquisitions.
Marz Kord is the new president of Bestech, a Sudbury-based engineering firm. He brings extensive expertise in engineering and proven leadership focused on driving organizational advancement and operational excellence. His background and forward-thinking vision will enhance Bestech’s ability to serve its clients, address evolving industry needs, and contribute to the development of the northern Ontario region. The company says Kord’s appointment reinforces its dedication to industry leadership and responsible corporate citizenship.
MANAGEMENT MOVES
» Allied Gold appointed Johannes Stoltz CEO.
» Benz Mining appointed Mark Lynch-Staunton as CEO.
» Blue Moon Metals said Christian Kargl-Simard is now CEO and Frances Kwong is CFO.
» Canary Gold named Mark Tommasi its president.
» Defense Metals appointed Mark Tory as CEO
» Elysis said CEO Vincent Christ is retiring at year-end.
» EnGold Mines said Leanora Brett stepped down as interim CFO.
» Forge Resources added mining engineers Guillermo Leon and Mario » Alonso Alzate Ferrer to its team and named Camilo Cordovez Amador its VP finance.
» KO Gold named James (Jim) Henning CFO.
» Lucapa Diamond named Alex Kidman as CEO.
» Mines D’Or Orbec said Alain Lévesque stepped down as CFO.
» Osisko Metals named Don Njegovan presi-
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MANAGEMENT MOVES
» Scorpio Gold named Jeff Lindstrom as VP operations.
» Silicon Metals named Leighton Bocking as president.
» Sonoran Desert Copper appointed Nancy Zhao as CFO.
» South Pacific Metals named Dean Williamson its exploration manager
» Talon Metals appointed Mike Kicis as president
» TriStar Gold announced Marcus Brewster will step down as COO. Mark Jones III became chairman emeritus.
» ZEB Nickel named Kyle Appleby its new CFO, replacing Dave Cross
RECENT AWARDS
» Dr. Keiko Hattori, a director at Japan Gold, was awarded the Duncan R. Derry Medal by the mineral deposits division of the Geological Association of Canada
» Patriot Battery Metals won the Entrepreneur of the Year award from the Quebec Mineral Exploration Association.
BOARD ANNOUNCEMENTS
» Allied Gold added Oumar Toguyeni a director
» American Copper Development named Marcio Fonseca to its board.
» Black Swan Graphene asked Rory Godinho to join the board.
» Canadian Copper added Brent Omland to its board.
» Canadian North Resources said Rick Brown resigned from the board.
» Fernando Alanis Ortega joined the board of Capitan Silver.
» The Centre for Mining Innovation (CEMI) appointed Mary-Carmen Vera, Marilyn Spink, and Lori Martin to its board.
» DFR Gold said Carlo Bravelle left its board
» Roger Demers is retiring from the board of Dynacor Group
» Elemental Altus Royalties added Prashant Francis to its board.
» Great Eagle Gold appointed Michelle Ash and chair and director.
» Group Eleven Resources named Michael Gentile a non-executive director.
» Hayasa Metals added Robert Furse and Derek White to its board.
» Kutcho Copper announced Stephen Quin resigned as a director.
» LaFleur Minerals announced Michael Stier left the board.
» Military Metals added Mark Saxon to its board.
» Osisko Metals added John Burzynski to its board as executive chair.
» Quetzal Copper added Lisa Thompson to its board and John Fraser resigned.
» Red Metal Resources added Matt Parent to its board
» Rise Gold said directors John Proust, Murray Flanigan and Benjamin Mossman have resigned.
» Sanatana Resources said Ian Smithard retired from the board.
» Soma Gold named Terry Krepiakevich to its board.
» The newest director at Spod Lithium is Richard Goldstein
» Steppe Gold said Steve Haggarty resigned from the board.
» Talon Metals asked Sean Weger to join the board.
» Taseko Mines appointed Crystal Smith a director.
» Terra Clean Energy added Greg Cameron and Tony Wonnacott to its board.
» TriStar Gold added Marcus Brewster to its board.
» Uranium Royalty named Ken Robertson as a director.
» Douglas Underhill joined the board of Urano Energy, previously known as C2C Metals.
» Valleyview Resources welcomed new board members Eugene McBurney, Mark Christensen, Ross McElroy, and Andrew Tunks
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