Linamar sees higher metals costs as ‘opportunistic’ U.S. companies hike prices

The Cree Nation and Goldcorp Inc. have signed a cooperation agreement over the Éléonore gold project in the province of Quebec, Canada. Under the agreement, signed on Monday, Goldcorp recognizes Cree rights in the area surrounding the project, and the Cree support the rights of Goldcorp. to develop the property in traditional Cree territory.

Diluted bitumen from the oilsands can pose a substantial risk when carried through pipelines, says the Natural Resources Defense Council in a report released this week. "Increasingly, pipelines transporting tar sands crude oil into the United States are carrying diluted bitumen or "DilBit"—a highly corrosive, acidic, and potentially unstable blend of thick raw bitumen and volatile natural gas liquid condensate—raising risks of spills and damage to communities along their paths," says the report. The Natural Resources Defense Council claims that the company's that produce oilsands are using conventional pipeline technology, however the operating temperature and pressure to push the bitumen down the pipes must be higher which can lead to ruptures, corrosion and leaks.

PotashCorp said on Tuesday that inventory in January was down 84,770 tonnes, about 24% below the previous five-year average. PotashCorp produces approximately 23% of the world's supply of potash. It is also a major producer of phosphate and nitrogen. Current spot prices puts potash at just under $400 a ton. Jay Taylor, editor of J. Taylor's Gold, Energy & Tech Stocks newsletter, says that major potash firms are trying to improve their positions, so they can benefit from a sector that is expected to grow.

Canadian gold company Claude Resources Inc. has published a resource estimate for its Amisk property, located in northeast Saskatchewan about 20 kilometres from Flin Flon, Manitoba. The independent mineral resources statement shows indicated resources of 30,150 tonnes graded at 0.85 g/t gold and 6.17 g/t silver, and 28,653 tonnes inferred at 0.64 g/t Au and 4.01 g/t silver.

Silvercorp announced on Thursday that it received a positive preliminary assessment for its Silvertip silver-lead-zinc project in northern British Columbia. Silvercorp's stock was up 4% on the TSX on Friday. The report prepared by Golder Associates favoured a small mine and mill operating seasonally at 500 tonne per day or 72,000 tonne per year. "The initial capital cost of the project is estimated to be $US49 million with sustaining capital costs over the remaining mine life (21 years) estimated at $US54.2 million. The payback period is estimated at 4 years for the base case and 2 years for the upside case after reaching commercial production."

The Brazilian miner said on Friday it will lose 5% of its total nickel production for 2011 as a result of a 16-week shut down of a smelter furnace in Canada Brazilian miner Vale said on Friday it will lose around 5 percent of its total 2011 nickel

The group announced better-than-expected results for the year on the back of higher prices and said it remains positive about the outlook for commodities markets. Anglo American (AAL.L: Quote) (AGLJ.J:Quote), the world's fourth-largest diversified miner,

“Worldwide, Canada, Australia, Brazil, and Chile will likely remain the best jurisdictions in which to invest in and develop mining projects. Each of these nations will likely continue to see economic growth and mining investment.” This comment comes from a report, 2011 Ranking of Countries for Mining Investment Where ‘Not to Invest’. Most of us will agree with the company’s statement “the mining industry is vital to the creation of wealth and prosperity in any country. Countries that stifle it with detrimental political, economic, financial, and regulatory policies should be challenged to make changes that are more accommodative to its success.”

The Association for Mineral Exploration British Columbia said on Wednesday that the agreement to compensate the miners for development work in the Flathead River basin are too low. "AME BC remains appalled by the lack of due process in reaching a timely and fair compensation agreement for the taking of mineral titles in the Flathead", stated Gavin C. Dirom, President & CEO of AME BC in a press release.