Each worksite presents its own unique challenges and requirements, but injuries and ailments occur across the 12,563 active mines in the United States. While injuries and ailments can be common, prevention through correct medical provisioning and education has thankfully seen fatalities decreasing year after year. Nevertheless, accidents are incredibly disruptive to the workforce; they halt precious production time, incur significant cost, and can have a life-changing effect on those involved, and so ensuring the right preventative measures are in place is crucial.

With a wealth of experience in providing medical and safety assistance, RMI’s specialist teams support mines and mine operators in the most unique and remote locations in the world, utilising years of expertise to deliver medical provision that keeps workers safe, preventing injury or delay.

Strains, sprains, and physical ailments

Mining is a physically demanding profession, and strains, sprains, and fractures are the most commonly reported work-related injuries. Treatment of these injuries can require extensive provision of care and workers undergoing treatment can be away from site for lengthy periods of time while they recover. Absence from work can prove costly, particularly in a time where production targets are increasing.

Treating injuries and ailments when they have already taken place on mining sites can be incredibly costly, and many operators are already investing in preventative measures to minimise the risks of illness or injury. One way that employers can do this is to facilitate a pre-screening process to save operations from potential disruption: workers with pre-exiting illnesses or other health factors can lead to increased risks for themselves, their teams, and have the potential to cause delays in operations due to sickness or injury.

On-site clinics provide occupational health and deliver preventative safety advice. The benefits of operating on-site clinics far outweigh the costs, with studies showing that on-site clinics reported a 70% reduction in employee downtime and a 64% reduction in medical care costs, indicating that on-site support should be considered an essential aspect of any project.

Standard first aid training only equips workers to render basic stabilizing care for a handful of life and limb threatening emergencies, whereas RMI’s on-site medical providers have a far greater level of training and experience, allowing them to deliver a higher level of care in both emergent and non-emergent situations.

Non-occupational health

Physical injuries are just one risk to workers during mining operations. Many of the ailments that mining companies need to be aware of take place outside of the work environment. Living in confined, close quarters means illness can spread quickly throughout the workforce, which can cause downtime in production and operation.

Research has also bought into focus how mentally challenging people find working in the mining industry, due primarily to the shift working patterns, distance, and isolation from family. While open discussions around mental health have only recently come to the forefront in the industry, many operators have worked hard to remove the stigma around the issue. Addressing and managing the mental health of the mining workforce will be an ongoing process and there are still widely reported incidences of workers self-medicating with excessive alcohol and/or recreational drug consumption, creating a dangerous environment for them and their colleagues.

Being prepared to deal with situations outside of physical injuries is paramount in ensuring worker safety. Through the use of an on-site medical clinic, RMI’s medics are trained to provide a full medical examination of staff before they can begin work; this includes alcohol and drug testing as standard and acts as a deterrent for staff. Having a trained medical expert as part of the onsite team can also improve the effectiveness of illness prevention education, including educating workers on the importance being up to date with their vaccinations and maintaining good hygiene practices to prevent illnesses from spreading among workforces.

RMI’s experienced medical teams also provide telemedicine and case management support which gives staff access to around-the-clock medical consultations and advice. These provisions help to limit the need for workers to be transported to facilities off-site, helping the mine to continue running efficiently while also providing staff with a level of care that goes above and beyond the basic need.

Emergency response

Even with the best preventative measures in place, being prepared for medical emergencies is essential. All mining sites, including those located within reach of a hospital, should have a regularly reviewed Medical Emergency Response Plan (MERP).

This plan outlines the medical referral facilities and their respective capabilities to treat a wide variety of health emergencies. The plan also specifies how to transport patients to these places, which could be either by road or by air. Emergency plans are common across most mining companies but having a robust procedure with integrated medical support can help swiftly deal with a time sensitive emergency situation.

Injuries not only halt production in busy mines but they also significantly affect workers who, if not treated properly or feel their injury could have been prevented, will find work elsewhere. Incorporating sufficient medical care is an essential cost that prevents downtime, ensures the safety of workers, and improves worker retention. With the help of RMI, operators have been able to embed medical expertise into their teams helping to reduce the consequences of illness-related absences and tackle the unique challenge of working in remote locations.

(Chris Murff is vice president of global sales at RMI)

Nickel geology overview

Nickel deposits come in two forms: hard rock sulphide deposits, which consist of nickel-bearing minerals known as pentlandite and nickel laterite deposits.

Sulphide deposits are scattered worldwide, from northern Europe, South Africa, Canada and Western Australia.

We then have the laterites, which typically form in high-rainfall equatorial regions. As rain dissolves and removes minerals and elements from the soil it leaves behind immobile elements like nickel, iron and aluminium. That leads to a natural concentration of nickel in these regions.

There are outliers. Shifts in the global climate over geological history have enabled places like arid inland Australia to form laterite deposits. This region was once bathed in tropical rainfall and lush jungle.

But of the two sources of nickel, sulphides are far easier to process and refine into high-purity products, the ideal choice when it comes to EV battery material. For this reason, sulphide miners have retained a competitive edge.

However, that started to shift in 2018 when the world’s largest nickel producer, China’s Tsingshan Holding Group, announced a $700-million plan to produce battery-grade nickel from nickel laterites. Processing laterite ore into high-purity nickel uses a system known as High-Pressure Acid Leaching (HPAL). The innovation unlocked a swathe of new supply and Indonesia’s nickel output exploded after integrating HPAL technology in 2018.

Cloudy data in nickel outlook

In early March, the Macquarie Group’s nickel expert, Jim Lennon, claimed supply gluts could be overblown.

That assessment was based on a recent visit to China where Lennon claimed the demand for stainless steel and other nickel alloys is far higher than the official numbers report. According to Lennon, nickel inventories are also far lower than the stated figures. In other words, he believes the consensus forecast of a nickel oversupply is wrong.

It’s an interesting perspective. Chinese officials are known for under- or over-reporting figures to suit political motives.

But are Lennon’s observations, alone, enough for investors to move into this beleaguered market? Perhaps.

Resource stocks coming off a low base can result in large ‘recovery gains’ as sentiment creeps back into the market. It’s also worth noting that U.S. officials recently excluded Indonesian nickel from lucrative tax credits as part of its Inflation Reduction Act (IRA). That’s thanks to a tight interlink between Indonesian operators and Chinese investors.

So, where does that leave investors?

Everything is not what it seems in the nickel market and that’s where contrarian opportunities are born. Given that China plays a major role in supply and demand, this suggests there could be a lot more to this story. The data remains cloudy, meaning there could be more surprises in the months ahead.

A prime value opportunity may emerge with several nickel producers and explorers trading at multi-year lows.

I’ll explore that with my Diggers and Drillers readers over the coming months.

James Cooper runs the commodities investment service Diggers and Drillers. You can also follow him on X @JCooperGeo.

The US is 100% dependent on imported gallium, which is critical for national defense, primarily from China. Gallium is used for semiconductors, 5G technology, smartphones, satellite systems, critical photonics technologies and military radar systems. The 2022 list of critical minerals identifies gallium as a US supply risk.

The Pentagon has already announced plans to issue a first-time contract to US or Canadian companies to recover gallium after China curbed exports last year.

In December 2023, US Critical Materials signed an agreement with Idaho National Laboratories to develop new rare earth processing methods, including gallium separation.

Last year, the Sheep Creek property reported grades that exceeded any other domestic rare earth resource. As part of the United States Geological Survey (USGS) Earth Mapping Resource Initiative, the USGS, in cooperation with the Montana Bureau of Mines, announced last April it is conducting an aeromagnetic and aero-radiometric survey at Sheep Creek.

The company said it believes the technologies developed under this cooperative research and development agreement could potentially provide environmentally responsible mining and processing  to mitigate environmental concerns.

US Critical Materials president James Hedrick is a 29-year former USGS and Bureau of Mines rare earth commodity specialist.

“Not only is our gallium high grade, but we are also confident that we will be able to create a separation process that will be environmentally respectful. US Critical Materials’ prime gallium claims average over 300 ppm and go as high as 1,370 ppm,” Hendrick said in a statement, adding that gallium can be separated profitably at 50 ppm.

“US Critical Materials looks forward to being the primary gallium producer in the United States,” he said.

The funds will be used to support a pilot project to process 5,000 kg per day of raw materials into approximately 2,500 kg of extracted platinum group metals per year.

Founded in 2020, pH7 is headquartered in Vancouver and was recently listed on the Cleantech Group’s 2024 Global Cleantech 100. The new process enables efficient metal extraction from low-grade resources or difficult substrates in a cost-effective way, it said.

The company has created a proprietary closed-loop process using advanced chemistry to extract and refine critical metals that will help the mining sector transition to renewable energy in an environmentally and economically sustainable way, the ministry of Energy, Mines and Low Carbon Innovation said in a news release.

Metal alloys including platinum group metals, copper and tin produced by pH7 are then refined by industrial customers. This method results in significantly less greenhouse gas emissions, electricity and water usage compared to mining or other recycling methods.

“BC is home to a growing clean-energy sector, accounting for 20% of Canada’s world-leading cleantech firms that are having positive impacts globally,” Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, said.

“With near net-zero environmental impact in the extraction of critical metals and minerals, pH7 is demonstrating the kind of innovative thinking that can transform mining around the world.”

Since 2008, the ICE Fund has committed approximately C$112 million ($83m) to support pre-commercial clean-energy technology projects, clean-energy vehicles, research and development, and energy-efficiency programs.

“The clean, green future we envision requires more critical metals than we have access to currently,” said Mohammad Doostmohammadi, founder and CEO of pH7 Technologies.

“Through innovation and collaboration, we look forward to bringing our cleantech solution to help scale the extraction of metals and make existing processes much more sustainable and cost-effective.”

Cochran will be responsible for developing and driving strategies to realise and optimise the value of the Group’s substantial uranium resources, as well as for leveraging his track record of value creation in the uranium industry to capitalise on other opportunities that may arise, the company said.

Cochran is a respected international mining executive with over 30 years of experience in a diverse range of commodities and in various leadership positions globally and in uranium.

His uranium industry experience spans over 15 years, beginning in 2006 when he joined Uranium One’s South Australian team. He guided the Honeymoon mine through its environmental approvals and oversaw the establishment of the Mitsui, Uranium One Australia JV.

Cochran also led the due diligence team on Uranium One’s C$3.8 billion acquisition of UrAsia Ltd. in 2007, which was the largest uranium transaction in history, and was responsible for the integration and management of the Kazakh joint venture interests.

Cochran has also led other uranium companies including Namibia-focused uranium developer Deep Yellow Ltd. and most recently, as the managing director and CEO of Aurora Energy Metals, which has an advanced uranium project in the US.

Prior to Aurora, he was the CEO Reward Minerals, an aspiring sulphate of potash development company.

Yellow Giant is an underground gold and silver project on British Columbia’s north coast on Banks Island on the eastern shore of the Hecate Strait, 110 km south of Prince Rupert. 

Benjamin Mossman appealed the decision that found him guilty of 13 environmental violations, including discharging mine waste, failing to report environmental spills and dumping, and discharging substances in concentrations exceeding permitted amounts.

The court ruling had found that former CEO Benjamin Mossman was “actively or passively involved” in the Yellow Giant mine exceeding permitted amounts of zinc on multiple occasions, polluting fresh water lakes and creeks in and around the exploration sites.

Banks Island Gold filed for bankruptcy in 2016.

In the March 15 ruling, the judge also said previously dropped charges of failing to report the pollution to authorities would have to be heard at a new trial because of errors in an earlier ruling, CBC News reported.

In recognition, the School of Mining, Manufacturing and Engineering Technologies has been renamed the Nutrien School of Mining, Manufacturing and Engineering Technologies.

“With this significant contribution, we are not just constructing a new campus, we are building a launchpad for tomorrow’s leaders,” Dr. Larry Rosia, Sask Polytech CEO said in a news release.

“For more than 40 years, the connection between Nutrien and Sask Polytech has been mutually beneficial and has evolved to become an indispensable partnership that plays a critical role in Saskatchewan’s economy. Nutrien’s generous gift will leave a lasting impact on Sask Polytech and future generations of students.”

The C$15 million gift to Sask Polytech’s Time to Rise campaign will directly support the construction of the new Saskatoon campus.

This investment will also enable Sask Polytech to continue working closely with Nutrien to train the workforce of tomorrow and provide skilled graduates for Nutrien’s potash operations. Nearly 300 of Nutrien’s current employees are Sask Polytech graduates, working at various Nutrien locations across Saskatchewan.

The new Saskatoon campus will transform an existing network of multiple decentralized, outdated buildings into a revitalized complex that offers modern, technology-rich learning for students and greater opportunities for applied research and investment.

By Tuesday afternoon, stock in the Toronto-based company had fallen 29% since Friday to C$2.21 apiece, valuing Global Atomic at C$462.7 million. It was as low as C$2.03 on Tuesday and has traded in a 52-week range of C$1.28 to C$3.91.

Global Atomic plans to start Dasa’s $424.6 million construction after June and commission the mine by the end of next year, according an updated feasibility study this month. The military coup in July led the US to suspend government funding for Dasa, but the company raised C$15 million in January by selling stock and says it will pursue more financing in a 60% borrowing, 40% equity-raising model.

“With the situation in Niger being fluid, in addition to current advanced discussions with project lenders, the company is also pursuing other financing strategies to meet its project funding requirements,” president and CEO Stephen G. Roman said in a release on Monday. “Given strong third-party interest in Global Atomic’s high-grade uranium project and our plans for near-term production, there are many groups interested in funding the Dasa project.”

The spot price of uranium oxide, also called yellowcake, was $91 per lb. on Tuesday, down from $107 per lb. last month, but still at its highest level since 2007. The metal is at nearly double its year-ago price on rising demand for electricity production without the air pollution of fossil fuels, and a forecast supply deficit. China alone plans to build about 150 reactors over the next decade.

Shares in other uranium producers, such as Canada’s Cameco (TSX: CCO; NYSE: CCJ) and Kazakhstan’s Kazatomprom (LSE: KAP), the world’s largest, gained 2% on the Niger developments, but declined on Tuesday to near Friday’s close.

US bases

American troops have been in Niger to fight regional Islamic insurgents since a 2012 agreement. The West African country supplies about 5% of global uranium demand making it the seventh-largest producer, including about 20% of the European Union’s needs. Numerous junior and large companies are exploring in Niger. French-state owned Orano said last month it was restarting production that was suspended after the coup.

David Talbot, a uranium market expert and managing director of Toronto-based Red Cloud Securities, said that despite the uncertainty in Niger, the country has been a steady uranium producer for more than 50 years and the government has respected operations by foreign companies.

“Even with the recent removal of French troops from the country, Niger has respected Orano’s business and we would expect it to do the same with Global Atomic and others,” Talbot said in a note on Tuesday. “For now, the key catalyst for Global Atomic remains the closing of its project debt financing.”

The main shareholders in Global Atomic are Toronto-based Sprott Asset Management with nearly 8% through exchange-traded funds, and New York’s Global X ETFs and investment firm VanEck. The January stock fundraising included $5 million from Bermuda-based Regent Mercantile Holdings led by Stephen Dattels, who also has an interest in Pasofino Gold (TSXV: VEIN) and its Dugbe gold project in Liberia.

Global Atomic raised Dasa’s probable reserve by 50% to 73 million lb. uranium oxide in 8 million tonnes grading 4,113 parts per million uranium oxide, according to the new feasibility study. The company has signed offtake agreements for 1.3 million lb. of uranium a year from a plant expected to produce about 3 million lb. annually over a proposed 23-year mine life.

Sahel region

Western nations such as France, which has long stationed troops in its former colonies, have been trying to help countries in West Africa’s Sahel region south of the Sahara Desert stem the growth of Islamic insurgents over the past few decades. The US began its Africa Command in 2007. But recent coups, including in neighbouring Mali and Burkina Faso, have hardened the resolve of some countries to lessen ties with the West and turn to Russia and its mercenary outfit Wagner Group for support.

In an alarming development for the US, Niger is considering a yellowcake supply deal with Iran, The Wall St. Journal reported on Sunday. The West has been trying to block Iran’s access for decades to nuclear material that could help it build an A-bomb.

The pivot prompted a US delegation including Assistant Secretary of State for Africa Molly Phee to visit Niger last week and press the regime under General Abdourahamane Tiani to organize elections, address security concerns and kill the Iran deal. But the Americans didn’t meet with Tiani. He issued a statement criticizing the condescending attitude of the visitors for not following protocol, denied there was a deal with Iran and cancelled the security arrangement with the US.

The US operates two bases there including one for drones built in 2021 for an estimated $100 million, according to Reuters. It remains unclear if all the 1,300 US soldiers in the country will have to leave.

Nuclear fuel

Besides countering Islamic insurgents, the West also wants to increase its uranium fuel processing. The US, Canada, Britain, France and Japan committed a total of $4.2 billion in December to build new plants since Russia’s Rosatom controls more than half the world’s capacity. Some Western nations are considering whether to sanction Rosatom and yellowcake exports to Russia.

For uranium investors, the price crash in battery metals nickel, lithium and cobalt may be a cautionary tale about the energy transition’s demand at this stage. Nuclear power has held out promise for decades but safety concerns, accidents and construction cost overruns have limited its appeal. The cure for high metal prices is high metal prices, The Economist noted last month.

But the Toronto-based Sprott Physical Uranium Trust (TSX: U.U for USD; U.UN for CAD), the largest investment fund in the physical metal, with $5.5 billion under management, remains boosterish while noting constraints in Niger.

“The situation in Niger is still developing, and Orano continues to face logistical challenges with both accessing the required reagents and exporting uranium,” Sprott exchange-traded fund project manager Jacob White said in blog-post on Monday. “Uranium’s recent pullback from the triple digits may be an attractive entry point in the overall uranium bull market.”

Launched Monday, the Barrick Academy is designed to offer tailor-made training programs aimed at developing the miner’s frontline managers to grow as leaders in their fields, while equipping them with the skills to manage their teams more effectively and to improve performance.

The Barrick Academy will be training more than 2,000 foremen, supervisors and superintendents from the Africa and Middle East region in the next 24 months.

Barrick said the Academy would also gear up to include contractors and expand the curriculum to cover wider disciplines, including financial leadership, advanced computer literacy and safety courses.

The opening follows the construction of an airport terminal at Buzwagi’s Kahama airstrip in January, which has paved the way for a scheduled airline service that can serve more than 200 passengers at a time, Barrick said, adding that it is expected to be a major catalyst for economic growth in the region.

According to Barrick’s chief operating officer for the Africa and Middle East region, Sebastiaan Bock, the airport terminal and Academy form part of Barrick’s plan to turn Buzwagi into a Special Economic Zone (SEZ).

A feasibility study commissioned in 2021 showed that the creation of the SEZ had the potential to replace the mine as the region’s economic driver and could sustainably create 3,000 jobs annually, generate more than $150,000 each year from service levies for the local municipality and deliver approximately $4.5 million in employment taxes a year.

The government of Tanzania approved the conversion of the mine into a SEZ through a government notice that was issued in February this year. A number of investors have started the process of setting up manufacturing industries inside this area.

“How we close our mines is just as important to us as how we build and operate them,” Bock said in the statement.

“Our Buzwagi mine was a significant economic powerhouse in the region for nearly 15 years before it poured its last gold in 2021. From our perspective, however, that is not the end of the story for Buzwagi as we transform it into an alternative productive asset that will serve the community.”

Samples from the Denise, Gratien, Grey Cat, and Team gold zones were tested by gravity, flotation and leaching. Gold and silver were recovered from a Knelson MD-3 concentrator at a coarse primary grind of 80% passing 184-416 μm. All samples were amenable to gravity recovery, ranging from 34% (in lower grades) and up to 72% in higher grades.

A single flotation test was performed on a 2-kg subsample of each of the gravity tailings. The samples were treated with potassium amyl xanthate and methyl isobutyl carbinol at a natural pH for 10 minutes. Under these conditions an additional 70.1% to 93.1% of the gold was recovered.

Amex said that direct cyanidation of the gravity tailings may recover gold and silver as well as does flotation.

The flotation test was performed on half the flotation tailings. The slurry was reground to 70% passing 90 μm and leached in a bottle roll for 48 hours at pH 10.5 to 11.0. Cyanidation as tested gave excellent results, recovering 79.0% to 96.7% of the gold in the tails.

Eldorado Gold (TSX: ELD; NYSE: EGO) recently spent C$15 million on charity flow-through shares of Amex and now holds a 9.9% interest in Amex.

Graphjet’s warrants will also be delisted from the Nasdaq and begin trading on the OTC as GTIWW. The transaction, the company says, creates the only pure-play publicly traded direct biomass-to-graphite company, establishing Graphjet as the leading source of graphite and graphene for the US market.

Graphjet raised $5.8 million through the transaction, and it anticipates that additional fundraising will be necessary to accelerate its growth strategy and expand its manufacturing capacity.

Graphjet’s technology uses eco-sensitive methods in a circular solution using waste and its processes eliminate emissions and pollutions, it said. The company has a $30 million offtake agreement with Toyoda Gosei and has accelerated the timeline for its planned manufacturing plant in Malaysia.

“We are thrilled to list Graphjet on the Nasdaq, particularly at this crucial moment of critical material demand and limited availability for the US market,” CEO Aiden Lee said in a press release.

“With China dominating more than 97% of all graphite production, we look forward to becoming the leading supplier to the US market to support its burgeoning battery storage and EV industries,” Lee said.

“Our patented technologies are capable of producing graphite and graphene directly from agricultural waste, which fills a critical supply need for these highly strategic materials, as demand is expected to continue to accelerate over the next several years.”

Graphjet said its commercial and patented vertically integrated technologies and process cuts the carbon footprint by 83% while reducing costs by 80%.

Graphjet’s stock advanced on the Nasdaq on Friday during a generally down day in the US market, affording the company a $1.76 billion market capitalization.

Tumbling metal prices account for more than half all of impairment charges, declared when fixed assets fall below market values, the study of 105 TSX-listed mining companies found. They incurred $68 billion in charges from 2002 to 2015. Using unfamiliar technology and locating in developing countries also contributed, data show.

Metal price drops accounted for 143 of 268 cases and $25.2 billion in impairment charges, according to the study published last month in Resources Policy, an international journal on mineral rules and economics with editors in the United States, Australia and China. The research appears appropriate at a time when nickel and lithium prices have crashed from 2022 highs as gold has set new records.

“While impairments have been shown to be a common occurrence across mining companies, they also are a major contributor to the industry’s low average returns,” said the authors led by Andrew Gillis of Edmonton-based Aurora Hydrogen.

“The degree of impairments is higher at mines in developing countries and at mines where the geographic location and mining processes are new to the company operating the mine,” said the authors, which included John Steen and W. Scott Dunbar of the Department of Mining Engineering at the University of British Columbia in Vancouver, and Andrew von Nordenflycht of the Beedie School of Business at Simon Fraser University in Burnaby, BC.

Get lucky

Forecasting by its nature is uncertain. But some firms get lucky and only face a few impairments, while others get unlucky and suffer many or large impairments, the authors said. Their targeted years of research coincided with the rise of the commodity super-cycle 20 years ago followed by the financial crisis and declining metals prices from 2012.

The group recommended mining companies should improve their forecasting of mineral reserves, capital costs, production costs and commodity prices, which all impact future cash flows. It noted how C-suites might blame falling metal prices for impairments because other slips in capital or operating costs could be directly attributed to their own forecasting. The flip side is that rising metal prices can hide some other forecasting errors. And forecasting in foreign lands is simply more difficult, the authors said.

“Higher impairments in developing countries stem from lower information availability about market conditions and/or more volatile local market prices and conditions,” the authors said. “The sources of uncertainty are just greater, making forecasts harder and forecast errors easier, even for experienced forecasters.”

In the end, the researchers recommended more studies on forecasting. They could try to pinpoint the root causes of forecasting errors through personal interviews with project participants, detailed comparisons of feasibility studies and actual outcomes as well as assessing their methods of error prevention.

“Asset impairments have been identified as a primary determinant of long-term shareholder returns across Canadian mining firms,” the authors said. “Our findings suggest looking more closely into price forecasting procedures at mining companies to see if certain techniques or circumstances lead to more or fewer price-driven impairments.”

After two years of testing, the Energy & Mines Digital Trust (EMDT), a collaboration between the Government of British Columbia, private-sector and industry associations, has launched digital credentials for mining operators to streamline the process of sharing confidential information securely. 

Major mining operators in BC can now receive their Mines Act Permit as a digital credential, to prove their required operational permit status to investors, customers and regulators. The digital credential is tamper-proof and contains data verified from the Government of BC.

Mines can use digital credentials to submit Towards Sustainable Mining scores and share verified environmental, social, and governance (ESG) data to increase competitiveness in sustainability-focused markets.

The BC government has been often critiqued by industry for long delays in a system perpetually backlogged with permitting applications. There are eight new mines or mine expansions in the pipeline worth a potential total investment of C$6.6 billion ($4.9bn), while new critical minerals mines could generate C$800 billion ($600bn), according to the Mining Association of British Columbia.

Seabridge Gold’s KSM project, in the province’s Golden Triangle, is currently ranked both the biggest gold project in the world and the third largest copper project.

But the provincial government has said permitting solutions are a priority, and in an emailed statement to MINING.com, the Ministry of Energy, Mines and Low Carbon Innovation said it has made progress improving timing and transparency of permitting processes to support sustainable economic development, while maintaining environmental protections.

“Since March 2022, we have reduced the backlog of permits by 52%. Budget 2024 includes C$24 million to support ongoing dedicated resources for mine permitting, consultation and engagement with First Nations, as well as to sustain the ongoing improvements to mining regulatory processes, creating a strong foundation for realizing critical mineral and broader mining sector opportunities,” the Ministry said. 

The EMTD is part of a C$6.6 million investment in technology to ensure that internal major mine permitting processes are coordinated and efficient, it said. 

“The project’s been ongoing for a number of years and in January we went live,” Nancy Norris, senior director of ESG & Digital Trust, BC Ministry of Energy, Mines and Low Carbon Innovation, told MINING.com in an interview.

Norris said the EMTD is also working closely with the United Nations to take what has been learned from the project to an international context within the framework of UN sustainability goals. 

Norris is also co-lead on the UN Transparency Protocol project, which is adapting the learnings from the BC Digital Trust work to international supply chains, such as Critical Raw Materials.

“One of the issues with blockchain, having one platform where everyone pushes their data to is that it’s very difficult, especially in the mining sector for something like that to scale and be globally adopted,” Norris said.   

“You need something that’s very flexible, low cost, easy to implement so that each actor along a supply chain can just link their data basically and they can share as much data as they’re comfortable sharing, which gets at that kind of commercial privacy and competitiveness.”

The first phase of the project was about getting technically ready and able, and the province has so far issued two digital credentials.

“Having those types of credentials that you can then share that information builds along the supply chain,” Norris said. “Through the UN project, we’re talking to smelters and downstream operators along the supply chain [about] what kind of data needs to be surfaced to meet the requirements of these large consuming economies like the EU and the US that are starting to legislate.”

Norris pointed to the EU’s Carbon Border Adjustment Mechanism – its tool to put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.

Each actor along the supply chain will be able to prove the end products’ sustainability factors about it, such as carbon intensity and water usage levels.

“The whole purpose of this is to be able to differentiate producers that are actually adhering to sustainable practices and be able to report on them in a way that can be consumed by importers in the EU or the US so those products could actually get premium price,” Norris said.

“What we’re trying to do is create the digital tools that will enable this kind of uplift for miners that are actually working diligently towards making their production more sustainable.”

The Don Lindsay Teck Award contributes C$1 million to each of Canada’s two largest mining schools: the Norman B. Keevil Institute of Mining Engineering at UBC and the Robert M. Buchan Department of Mining at Smith Engineering at Queen’s. The endowments will generate annual renewable scholarships at each university, providing financial support for students pursuing mining studies.

The award, funded by Teck, was established in recognition of former CEO Don Lindsay’s contributions to the mining sector in Canada and internationally. During his 17-year tenure, Lindsay’s commitment to philanthropy and supporting the next generation of mining talent has left a mark on the mining sector.

The Mining Engineering award builds on the longstanding partnerships with the mining schools at UBC and Queen’s University, spanning decades and aligns with Teck’s commitment to increasing the pipeline of mining industry talent to strengthen the industry’s future.

“The Don Lindsay Teck Award in Mining Engineering will shape the next generation of mining engineers,” James Olson, Dean of the Faculty of Applied Science at UBC, said in a media statement. “UBC is building the mining industry of tomorrow, which will leverage critical minerals to solve climate change. We extend our deepest gratitude to Teck for this endowment, and its immeasurable impact on education and research at UBC Engineering.”

“The C$1 million endowment will have a profound impact on the heart of Queen’s University: its students,” added Kevin Deluzio, Dean, Smith Engineering at Queen’s University. “Our partnership with Teck over the years has enriched programs, provided employment opportunities, and supported research, contributing significantly to the educational experiences for our students.”

The opening ceremony, hosted by Weir’s CEO Jon Stanton, was attended by a senior leadership team from Xuzhou Hi-Tech Industry Zone and other members of Weir and its ESCO division from China and across the globe.

Occupying a 16.5-acre site in Xuzhou’s High-Tech Industrial Zone, the new foundry features the latest technology and equipment, incorporating high levels of automation. These enable the optimisation of capacity and enhance foundry processes, improving efficiency and further reducing costs of manufacture.

The new foundry represents a $60 million investment and will replace Weir’s existing foundry located close by.

The company retained its skilled and loyal workforce – many of whom have been with Weir since foundry operations in Xuzhou in 2006.

Battery metals producer and recycler US Strategic Metals announced the appointment of Thomas M. Boehlert as chief financial officer.

Boehlert, with his extensive background and expertise, will play a pivotal role in guiding the company’s fiscal health and strategic initiatives, focusing on establishing a robust domestic supply of critical minerals to support the ongoing energy transition.

As the former CFO and executive director at RCF Acquisition Corp, Boehlert played a key role in a successful $230 million capital raise and IPO in 2021, aligning financial strategies with the evolving energy landscape.

His role as board director at Arizona Sonoran Copper contributed to a successful 2021 IPO, emphasizing sustainable practices in critical minerals.

As an advisor at Beta Technologies, Boehlert provided key insights into rare earths in sustainable aviation, reflecting his commitment to ESG. Boehlert’s leadership as CFO and executive vice president at Bunge Limited showcased the depth of his financial acumen in his implementation of the Global Competitiveness Program.

An MBA graduate from New York University and former senior auditor at KPMG, Boehlert uniquely amalgamates academic excellence with industry knowledge, USSM said.

The new £18 million ($23m) Centre for Doctoral Training (CDT) in Digital Transformation of Metals Industry (DigitalMetal) has been funded by the Engineering and Physical Sciences Research Council (EPSRC), who announced £7m ($8.9m) in funding with partner universities (Birmingham, Leicester, Loughborough, Nottingham and Warwick) and industry.

The centre is part of the UK’s biggest-ever investment in engineering and physical sciences doctoral skills, totalling more than £1 billion ($1.28bn), announced by Science, Innovation and Technology Secretary Michelle Donelan.

A total of 65 Engineering and Physical Sciences Research Council (EPSRC) Centres for Doctoral Training (CDTs) will support leading research in areas of national importance including the critical technologies AI, quantum technologies, semiconductors, telecoms and engineering biology.

The DigitalMetal CDT has been designed to meet a national, strategic need for training a new generation of technical leaders able to lead digital transformation of metals industry and its supply chain with the objective of increasing agility, productivity and international competitiveness of the metals industry in the UK. 

It will provide postgraduate training that combines metals and alloy engineering with digital technology and AI skills, to help the UK metals and manufacturing industries to reap the benefits of ‘big data’.

The vision, the University said, is to train future industry leaders who can rapidly take advantage of the latest discoveries in manufacturing processes through digital twinning to enable defect-free, ‘right first-time’ manufacturing at reduced costs.

The metals industry is a vital component of the UK’s manufacturing economy and makes a significant contribution to key strategic sectors such as construction, aerospace and space, automotive, energy, defence and medical, directly contributing £20bn ($25.5bn) to UK GDP, and underpins over £190bn ($243bn) manufacturing GDP.

“Without a new cadre of leaders in digital technologies equipped to transform discoveries and breakthroughs in metals and manufacturing technologies into products, the UK risks entering another cycle of world-leading innovation but losing the benefits arising from exploitation to more capable and better prepared global competitors,” Professor Hongbiao Dong, FREng, from the University of Leicester School of Engineering, and Director of the Centre, said in a media statement.

“For the UK metal industry to lead at a global level, we must raise its competitiveness and create robust and agile manufacturing processes and sustainable supply chains enabled by digital technology.”

Glencore last year said it planned to develop a recycling hub in Europe with Li-Cycle to produce materials including lithium carbonate in response to a global shortage of key raw materials for the fast-growing electric vehicle (EV) market.

This not the first investment Glencore made in Li-Cycle. In June 2022, it invested $200 million in the Canadian-based battery recycling firm. Li-Cycle’s CEO Ajay Kochhar said at the time that the agreement would “further secure and diversify” the company’s lithium-ion battery supply and feedstock sources and help improve its position in North America and Europe.

The demand for lithium-ion batteries used in EVs has been on the rise as the world looks to meet its goal of transitioning away from fossil fuels by 2050. The recycling of lithium-ion batteries, however, is not expected to take off before 2030 due to obstacles such as the lack of recyclable feedstock and the long life of EVs, according to Wood Mackenzie.

“This financing enhances Li-Cycle and Glencore’s existing long-term, strategic partnership and represents an interim step in our funding strategy to support Li-Cycle’s future plans,” Kochhar said in a news release. “We also continue to work closely with the US Department of Energy on the conditional commitment for a loan of up to $375 million.”

Li-Cycle said it is continuing to review its global recycling network and its go-forward strategy for the paused Rochester Hub in the US, including analyzing potential end-product mix options and construction strategy.

“Glencore is committed to bringing scalable and sustainable circularity into the supply chain of battery materials,” Kunal Sinha, Glencore’s global head of recycling and non-executive director of Li-Cycle’s board, said in the statement.

“Our original investment in Li-Cycle, alongside key commercial agreements, formed part of this strategy. Today, we are pleased to further support Li-Cycle through this additional $75 million investment so both Li-Cycle and Glencore can continue to build the battery circularity platform of choice for our customers.”

Li-Cycle’s stock surged over 38% in Tuesday’s afternoon trading in New York. By 2 p.m. EDT, the shares had traded at a volume of 51.6 million, compared to an average daily volume of 3.3 million. The company has a $97.8 million market capitalization.

A research panel will look for ways to reduce contamination from coal mines in BC’s Elk Valley flowing into Lake Koocanusa, a reservoir straddling the border and into US rivers. Due to pollution concerns in this watershed, the US and Canada asked International Joint Commission (IJC) to establish a board of experts and knowledge holders by June that will study the issue over two years and devise options for action.

Indigenous groups in British Columbia, Montana and Idaho had lobbied for intervention by both federal governments to stop the flow of coal pollution, the Associated Press reported.

Elevated levels of selenium have reportedly been found in fish and fish eggs from Montana’s Kootenai River, downstream from coal mines in the Elk River Valley. A legal action filed in May 2023 in Montana named Teck Coal Ltd. as one of three defendants in a request for judicial review by environmental groups in Montana and Idaho over levels of contamination from its British Columbia mines in US waters.

“Our two countries are committed to a collaborative, science, and Indigenous knowledge based, action-oriented path forward,” US Ambassador to Canada David L. Cohen and the Canada’s Ambassador to the United States, Kirsten Hillman said in a joint statement.

The two nations will work in partnership with Tribal Nations and Indigenous Peoples, consistent with the principles outlined in the United Nations Declaration on the Rights of Indigenous Peoples. They’ve asked the IJC to assist federal and Indigenous governments, British Columbia, Idaho, and Montana, to establish a formal governance structure for the study board by the end of June.

Teck closed the sale of a minority interest in its coal business to Nippon in January. The remaining sale of 77% of the business to Glencore (LSE: GLEN) is expected to close in the third quarter.

However, there are women who have been with the industry since forever and have made brilliant careers. Those who didn’t quit, despite the pressure, those bright enough to have succeeded in any other realm, but who still chose to stay in mining. So why don’t we for a change, name what is it that’s pleasantly challenging about being a woman in mining.

For International Women’s Day, here is my list:

• No other industry than a male dominated one gives a better opportunity to a female professional to grow professionally. You are constantly reminded (directly or indirectly) that women don’t that much belong here. From the archive pictures of history of fame hanging on the walls of your company showcasing men who built the company from scratch, to the mostly men dominated c-suite table are a constant reminder that you are not a natural here. So the desire and need to prove yourself is times stronger. You read, learn, doubt yourself, ask questions, analyze and pursue knowledge in a way that most men in the industry are not under pressure to do. And before you know it, your horizon of the knowledge of the industry exceeds far beyond processing plant operation technique that a male peer was so proudly mastering through ought his career, without much need to learn anything else.

• If you are a newcomer in the company, the subconscious bias prompts most men in the room to subconsciously look down at your ability to bring value to the table. Especially when the fine lines on your face imply less than three decades of experience. And that’s an advantage. Because you will most probably exceed everybody’s expectations and it may even bring a proud glow of surprise to the faces of most male managers every time they are reminded how (unexpectedly) good you are. In most cases they don’t expect you to be great. And when you are – it is well noticed. You become that “woman that is better than some of the guys” (surprised!).

• Women compete with women. Tons of research prove it over and over again. In here you usually compete with the best. Because in a male dominated industry a mediocre man is much more likely to climb a career ladder than a mediocre woman. Seriously. How many times have you wondered, how did this incompetent piece of constant failure get to where they are? And how many times the person in question was a woman? In my experience, rarely. So you will have a tough and fulfilling competition, not just in proving those tunnel vision boys, that you need to be taken seriously, but also actually trying to be better than those smart, sharp and resilient girls who have made it to the top.

• If you are on the sustainability/soft side of the industry, (which many female managers in the industry are) you are also most probably enjoying watching the transformation of old school guys’ attitude towards the disciplines you represent. And maybe even having fun watching their silent or sometimes vocal resistance to accept the new reality. Remember some 10 years ago a production manager most probably wouldn’t even consider taking anything but production seriously? Let alone listen to a girl’s presentation about biodiversity or public perception. Only a decade ago EY’s annual survey suggested that miners considered production costs or access to water and energy their biggest risks. Whereas, three out of top four concerns this year are sustainability related.  Isn’t it fulfilling to witness and in most cases also drive the change?

You may still be manterrupted in the boardroom, quite often, actually. You are probably less likely to speak up than a man peer in a corporate boardroom still full of men.

You are certainly less likely to be forgiven a failure than your men peers and you may still wonder how many mediocre and incompetent men manage to make it and stay at the top. But let’s count the blessings too. Because that’s how we will know where to push harder.

Anna Saghabalyan is the deputy director of sustainability with Zangezur Copper Molibdenum Combine in Armenia, the largest mining project in the Caucasus region and one of the top 10 producers of molybdenum in the world. Previously she was the Director of Communications with Lydian International, a formerly TSX listed company with a flagship gold project in Armenia.

The province’s current Mineral Tenure Act (MTA) permits anyone with a free miner certificate to acquire mineral claims online through an automated system in First Nations’ territories, without their consultation or consent.

In October 2021, the Gitxaała Nation filed a legal challenge in Supreme Court seeking to overturn the province’s granting of multiple mineral claims from 2018 to 2020 on Banks Island, in their territory on BC’s northern coast.

The Gitxaała claimed they never consented to issuance of claims, were not consulted, and were never notified of the pending decisions. The lawsuit asked the province to invalidate existing claims and suspend staking in Gitxaala territory.

The court began hearing arguments in April 2023 and in September ruled that the province must consult with Indigenous groups before granting mineral claims, upholding the Crown’s duty.

The judge found that the province owes a constitutional duty to consult with First Nations prior to registering mineral tenures under the MTA and that there are negative impacts to Gitxaała Nation’s and Ehattesaht First Nation’s territories and rights from registration of mineral claims and gave BC 18 months to reform the MTA to incorporate the duty to consult.

Gitxaała and Ehattesaht had remaining concerns that the impacts on their rights found by the court would continue while MTA reform was underway and until a new regime was in place. The Nations filed appeals including requested orders to quash specific mineral claims and prevent new claim registrations until a consultation regime is in place. They have agreed not to proceed with those aspects of their appeals in light of protective measures enacted by the Province.

“This resolution demonstrates that meeting in person, government to government, allows us to develop solutions together, and I want to recognize and express my gratitude to Ehattesaht and Gitxaała for coming to the table with us to move forward the important work of reforming the Mineral Tenure Act,” Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, said in Thursday’s news release.

“These interim measures mean that instead of ongoing litigation that could have far more significant and longer-term impacts to the sector, we are instead able to focus on our work together to reform the act,” she said.

The two Nations and the Ministry have also agreed to support amendments to the interim orders if Ehattesaht or Gitxaała reach agreement with companies seeking to explore or mine in their territories.

“Gitxaała is ready to work with the Province and other First Nations to ensure BC meets its commitment to establish a mineral tenure law that aligns with the United Nations Declaration on the Rights of Indigenous Peoples and respects Gitxaała laws,” Gitxaała-elected Chief Councillor Linda Innes said.

“The orders enacted by the Province are an important step to begin this work together.”

If you’re a long term reader you’ll know I’ve framed tech in a rather sceptical light. 

Perhaps unfairly. 

But when it comes to liquidity in the financial system… There’s only so much dosh that can go around, especially within the riskiest part of the market.

And to that end, capital tends to flow into the hottest and most exciting trends.

For the moment tech dominates the minds of speculative investors. 

Drilling a new mineral sands deposit doesn’t encapsulate the same excitement like sticking a microchip into a patient’s brain. 

That was one of the latest headline grabbing tech innovations from Elon Musk’s Neuralink, last month. 

In the battle for speculative capital, junior mining stocks continue to lag.

Yet, explorers now have to compete with a tech sector foaming on steroids… artificial intelligence.

The AI ‘revolution’ promises plenty of headline grabbing attention for the tech sector. That means even more speculative capital.

Most people believe higher prices will drive the junior mining sector higher. 

That’s a fair assumption. After all, metal prices tend to rise as a function of demand.

With rising demand, we’d expect capital to flow back to the explorers in a need to boost future supply. 

Yet, this simple equation is failing… Take gold.

Despite the metal trading just shy of its all-time highs over the last several months, junior gold stocks remain depressed. 

That’s especially so across the explorers. 

It begs the question, if higher metal prices can’t drive explorers higher, what will?

Discovery… the spark for speculation

Just like the old gold rushes from the past, a surge back toward junior mining stocks often begins with a major discovery. 

I’m not sure why that’s the case, but it seems to capture the imagination of investors looking to ride the next major find.

Take the Poseidon nickel eruption in 1969.

This was among the most prolific junior mining booms of all time.

In the late 1960’s the market was ripe for speculation… Nickel and copper prices were trading at elevated levels driven by the Vietnam War.

Yet that alone didn’t push junior mining stocks higher.

It was Poseidon’s major nickel discovery at Mount Windarra, in Western Australia, that finally broke the market shackles.

The rush was on.

Poseidon’s shares surged from around A$0.80 to A$12. Eventually the stock reached a precipitous peak of A$280. 

The impact of Poseidon’s discovery was far reaching.

The Australian ‘ASX All Mining index’ rose 44% from October to December 1969.

Numerous explorers and mining juniors experienced triple digit gains against the backdrop of Poseidon’s frenzy.   

So, how could the next junior mining speculative boom play out?

AI’s ‘disruption’ could be a blessing for explorers.

Just like the late 1960’s the stage is set.

Despite a bearish mantra, commodity prices are in fact high and well above the cyclical lows from 2016. 

Take nickel, a metal that’s been in the news for all the wrong reasons… Supported by investment from China, Indonesia has been able to tap into its vast nickel laterite deposits flooding the market with new supply.  

While prices have pulled back, they’re still far higher than back in 2016, a major cyclical low for the commodity market. 

Back then, the metal traded for just $7,100 per tonne.

Today it’s almost double, trading at almost $18,000 per tonne.

It’s a similar story for gold, precious metals and other industrial commodities. 

Have no doubt, today’s elevated commodity market is a ripe setting for junior mining speculation.

Yet, the next rush could have a rather ‘modern’ twist.

We’re already starting to see what this might look like.

Last week, Legacy Minerals (ASX: LGM) announced the discovery of a nickel-copper-iron sulphide deposit at its Fontenoy project in New South Wales.

According to the company, the discovery couldn’t have happened without the assistance of artificial intelligence.

Over the last several months the company has been sharing its data with San Francisco based, Earth AI.

The tech startup was able to generate high probability drill targets by feeding the company’s geological database into its proprietary software. 

Drill logs, aerial imagery, geophysics, historic assays, scientific geological reports. 

Data that would take geologists years to digest and process.

But Earth AI was able to spit out drill targets both quickly and accurately.   

To be clear, it’s still very early days in terms of AI’s permeation into the mineral discovery process.   

But this latest discovery offers tangible evidence of AI’s potential in exploration. 

According to Earth AI, it can analyse and process data up to 100 times faster than traditional methods.

And this start-up isn’t mincing its words in proclaiming itself as a major disruptor for the industry…

“The discovery in Fontenoy, the second for us after the recent discovery of a greenfield molybdenum deposit, confirms that the future of mining lies in our technology.”

No doubt, the landscape is changing.

A geological land grab?

If the probability of discovery begins to levitate higher on the back of AI-driven software, just think about the opportunities available for companies holding prospective land?

AI could spark a sudden re-rating among explorers holding tenements in geological hot spots. 

That would cause speculators to pile into companies with the best geological turf.

If AI lives up to the hype, expect a tidal wave of tech capital chasing a new boom in the mineral discovery/AI partnership. 

Perhaps on a scale rivalling the Poseidon nickel surge of the late 1960’s.

Could artificial intelligence be the spark that finally ignites explorers back to life?

From competitor to partner, AI looks set to join forces with the junior mining sector in a big way. 

Two high growth adrenaline fuelled sectors, the old and the new, combining to spark a new era in mineral discovery. 

It’ll certainly be an interesting space to watch.

James Cooper runs the commodities investment service Diggers and Drillers. You can follow him on X @JCooperGeo.

Claudio Facchin, Hitachi Energy CEO, will step down at the end of June 2024. Schierenbeck will engage with the Hitachi Energy board, executive team and Facchin to ensure a smooth transition, the company said.

Schierenbeck joins Hitachi Energy from HH2E, a new green-hydrogen production company, where he is currently co-founder and board member. He was previously CEO of Uniper from 2019 to 2021, where he launched the company’s decarbonization strategy.

Prior to that, he was the CEO of Thyssenkrupp Elevator, where he led the transformation of the company into a global leader leveraging digital technology from 2013 to 2018. Between 1992 and 2012, he held various management positions within Siemens, including president and CEO of Siemens Building Technologies in the US between 2010 and 2012, and senior vice president in the Siemens electric utility sector in Switzerland.

Schierenbeck holds a Master of Science in Electrical Engineering from the TU Dresden and an Advanced Management Certificate from Harvard University in the US.

“I would like to welcome Andreas to Hitachi Energy to lead the next phase of exciting growth for the business,” said Keiji Kojima, representative executive officer. “I would also like to express my appreciation to Claudio for his great leadership transitioning and transforming the company over the last four years from the carve-out of ABB’s power grids business through the Hitachi ABB power grids joint venture into Hitachi Energy, a fully-owned subsidiary of Hitachi Group.”

E-scrap—which includes mobile phones, home appliances, medical or office equipment, and anything else powered by electricity—represents the fastest growing waste stream globally, with e-scrap generation expected to double 2014 levels by 2030, according to the DOE.

Only 17.4% of e-scrap was collected and recycled globally in 2019, discarding 83% of e-waste and $57 billion in raw material value, the DOE said, adding that e-scrap recovery faces numerous roadblocks, including a fragmented recycling value chain, a complex and dynamic feedstock, and a rapidly evolving end-use market.

“This prize addresses the urgent need to reduce the amount of critical mineral waste that goes unrecycled in the technologies we use every day,” said Jeff Marootian, principal deputy assistant secretary for Energy Efficiency and Renewable Energy said in a news release.

“We’re excited to see how ideas and solutions spurred by the competition can transform this huge environmental loss into new opportunities to recover and recycle critical materials from devices that are discarded after use,” Marootian said.

Wednesday’s announcement marks the opening of the first of three phases in E-SCRAP. The cash prizes and assistance awarded in Phases 1 and 2 are intended to support teams as they advance in the competition.

During phase 1: Incubate –  competitors will propose solutions that have the potential to substantially increase the amount of recovered critical materials from electronic waste and used in US manufacturing.

In phase 2: Prototype – competitors will prototype their innovation and begin collecting and/or generating data that can be used to optimize technoeconomic strategy and life cycle impacts between partners along the recycling value chain.

In the final phase 3: Demonstrate – competitors will begin implementing their innovations and propose their plans to scale their solution. 

Applications for phase one of this prize are due on September 4, 2024. The DOE anticipates selecting up to 10 winning projects in the first phase, with each award consisting of a $50,000 in cash and up to $30,000 in national laboratory analysis support.

Information webinars for potential applicants will be held on March 27 and on June 18.

More information is here.

The grant provides financial support to the company in the way of C$315,236 to continue mineralogical study on its apatite, ilmenite and magnetite concentrates.

The project also includes the processing of the company’s mine tailings for re-use in the cement construction industry.

“We are grateful to the Quebec Ministry of Natural Resources and Forests for this funding as we continue to build strong relationships with Quebec-based government bodies and institutions,” CEO John Passalacqua said in a news release.

The company’s objective is to see the development of a lithium iron phosphate (LFP) battery valley in the Saguenay-Lac-St-Jean region of Quebec, one which can service demand for LFP battery cathode active material across North America.

Details on First Phosphate’s strategy for the creation of an LFP battery valley are found here.

Global investment in clean energy is rising, and so is demand for minerals essential to battery production. Major mining companies are using M&A to acquire assets in the green metals space to stay competitive and accelerate beyond the traditional process and timeline.

Last year showed a 40% increase in deals across lithium, cobalt, and nickel – four times higher than 2019, according to international law firm Sidley, and one of the few bright spots in M&A in 2023.

Sidley M&A partner Joseph Michaels advises metals and mining clients, providing guidance on corporate governance, SEC disclosure, fiduciary duties for M&A, private equity, venture capital, and corporate finance transactions.

Michaels advised Allkem Limited in its merger of equals with Livent Corporation, a transaction valued at $10.6 billion, and which created the world’s third largest lithium miner and co-authored “Key Considerations for Cross-Border M&A in the Mining and Metals Industry,” Chambers and Partners, in 2023.

Chicago-based Michaels shares his industry insights exclusively with MINING.COM.

MDC: With M&A activity in the sector increasing significantly over the past year as mining companies are consolidating operations to create cost efficiencies and synergies, what opportunities for deals does this create amidst increased competition?

Michaels: Recent years have been eventful in the mining and metals industry. We continue to see mining and metals companies explore and pursue M&A at the highest levels in years.  Some dealmakers in other industries have adopted a wait and see approach until various conditions improve, but that has not been the case in the mining and metals industry.

The rise of M&A has been notwithstanding volatile markets, and in many cases actually because of the dynamics underlying them.  Dealmaking has been fueled by the green energy transition, rising costs to develop new projects, new government incentives, potential for risk-sharing, and continuing desires to build scale, enhance value chains and diversify. 

We expect M&A activity in the industry to remain strong.  We remain optimistic that the robust levels of M&A activity in the industry are sustainable and compelling opportunities will continue to arise.

MDC: Transactions in metals and mining sectors are highly influenced by commodity prices. What should companies anticipate when changes in the prices of metals can significantly impact the valuation and prospects of a potential deal?

Michaels: Changes in the prices of metals can significantly impact the valuation and prospects of a potential deal.  At the end of the day, deal discipline is required of buyers, sellers and partners. 

On one hand, current market realities need to be recognized and accounted for since they will impact valuation exercises, financing, integration efforts, and market messaging.  At the same time, it is important to give due consideration to longer-term views as well, particularly in light of energy transition dynamics and reserve levels. Quality assets are always going to sell, even in difficult markets, so long as agreement on valuation can be reached. Sometimes, that requires creative pricing structures.

MDC: Majors are looking to acquire mid-tiers and beleaguered juniors in a cash starved environment to enter the green energy metals space.  What growth opportunities do you see in this scenario?

Michaels: In this market, there are opportunities for many types and sizes of companies to benefit.  We are seeing a wide range of transaction types being proposed and discussed, including buyouts, investment opportunities, and partnership arrangements. 

Dealmaking is an important tool in any management team’s strategic option toolkit.  Depending on the nature of the parties and transaction, deal drivers may include opportunities presented by the green energy transition, rising costs to develop and operate new projects, new government incentives, the potential for risk-sharing, and the continuing desires to build scale, enhance value chains and diversify.

MDC: Given the nature of the sector, what due diligence is vital in transactions to understand the value of assets, liabilities, potential risks?

Michaels: A transaction in the mining and metals industry is a unique endeavor.  A thoughtful, well-advised and agile approach is critical to achieve the potential rewards of dealmaking, especially in a fluid market.  Mining and metals companies have particular due diligence needs, the breadth and depth of which is not necessarily seen in all other industries. 

In terms of valuation drivers, in addition to cash flow, resource and reserve, and operations due diligence, buyers and investors should have a sense of relevant synergies, government incentives, trade policies, tax considerations, and cash management practices.  When assessing risk, it is important to be mindful of a target company’s government relations, compliance programs, labor practices, land and water usage, pollution sources, supply chain, ESG profile, and local community relations.  An effective and calibrated due diligence process is often part of what makes a deal successful.

MDC: What regulatory hurdles should be anticipated? 

Michaels: There is little doubt that the regulatory environment is challenging in certain areas of the world right now.  Regulators have become quite active, in some cases discouraging or delaying certain dealmaking.  In a few instances, the heightened regulatory focus has been specifically targeted at the mining and metals industry, given its economic and geopolitical significance. There are obviously ways to get deals done when they are compelling.

While deals implicate various regulatory areas, obtaining antitrust and foreign screening clearance typically need to be top of mind for dealmakers.  These are often the biggest hurdles to executing a transaction, given that antitrust regulators and foreign investment screening regimes in many jurisdictions have increasingly scrutinized deals. 

This is emphasized in the mining and metals industry, given that the nature of the industry and the location of critical minerals has led to significant M&A activity occurring on a cross-border basis.  There is a premium on being well-prepared and developing an effective strategy to communicate why a deal is compelling and address any concerns.

MDC: What are the key requirements for legal expertise in the space for successful execution of an M&A deal?

Michaels: All M&A requires coordination among a broad range of constituencies and advisors.  In the mining and metals industry, interdependencies among stakeholders are magnified by the globe-spanning business and the exposure to government scrutiny.  It is critical to be well-prepared and well-advised from the outset. 

An early understanding of deal structure and approval requirements and insight into local conventions permits dealmakers to effectively manage the process, avoid pitfalls and seize opportunities. We continue to see in-house legal teams in the industry consist of elite level practitioners.  Experience in the industry is key for both in-house and outside counsel supporting M&A efforts, given the complexity and specialized considerations. 

While industry factors are important in any M&A transaction, they are emphasized in the mining and metals industry where due consideration needs to be given to unique government approval, public disclosure, community relations, ESG, and labor relations, among other matters.

The January proposal by a Canadian regulator would apply to “hard-to-borrow” stocks like junior miners. Before shorting such securities, traders would be required to confirm there is stock available to borrow or the short sale would be prohibited.

“They’re basically going to hold the brokerage firms accountable,” Kerry Knoll, chairman of Generation Mining (TSX: GENM) said of the proposed amendments by Canadian Investment Regulatory Organization (CIRO).

“People can’t just call up and short and then go looking for the stock,” he said on Monday at PDAC, which runs from March 3-6 in Toronto.

“With juniors, you frequently can’t find the stock to borrow. I have never shorted one, but I’ve tried many times. And when I have tried, I call around and see if anybody can borrow the stock and it’s always ‘no.’”

Shorting is when traders borrow a security to sell into the market, hoping to buy it back at a lower price and pocket the profit before returning the stock to its owner. It’s basically a bet that a stock’s price will go down. Junior mining stocks have been targeted by short-sellers because the market as a whole has been trending downward. However, because of low trading volumes in the sector, shorting can easily devastate a junior’s stock price, leading to calls for different treatment of low-liquidity equities.

Knoll says Generation’s stock price was cut in half over a period of weeks by shorting activity during a time of low trading activity in shares. The company holds the development stage Marathon palladium-copper project in Ontario.

“Suddenly every day with one second to go, somebody sold some amount of stock, maybe 300 shares, 500 shares and closed it down a penny or two,” he said. “This went on for weeks and weeks.” 

Short-sellers want to trade the stock down at the end of the day so they’ll be under less pressure to buy back the stock and cover their position, he said.

Chuck Fipke, who discovered Canada’s first diamond mine Ekati with Stu Blusson, says he’s also noticed unusual trading in his current venture, Cantex Mineral Development (TSXV: CD), and late-day low-ball bids meant to drive down the company’s share price.

Cantex’s Rackla North project in the Yukon hosts North America’s highest-grade silver-lead-zinc deposit. The company discovered early last year it also hosts very high grades of critical mineral germanium, used in solar panels, chips, and military applications, and production of which is dominated by China.

The stock rose, Fipke says, before “short-sellers knocked it down.”

But he admits he can’t prove what he describes as an “epidemic of short-selling” that’s plaguing juniors.

“I’m a geologist, hey, my job is I look for mineral deposits,” he said by phone ahead of PDAC, adding it’s up to the regulators to investigate the issue. “I can’t do everything,” he said, adding he manages drilling of every hole at the project, which has seen 60,000 metres of drilling since 2016. “It’s easy to drill, but it’s hard to drill in the right place.”

Junior market investors say the problem has emerged since Canadian regulators removed the uptick rule in 2012 that prohibited short sales at a lower price than the previous trade.

Save Canadian Mining, started in 2019 by Power Nickel (TSXV: PNPN; US-OTC: PNPNF) CEO Terry Lynch backed by Eric Sprott, Rob McEwen and others, has been trying to uncover proof pointing to illegal or uncovered short-selling.

At a presentation at the Investment Leaders Forum, Lynch noted that only 40% of trading in Power Nickel stock is on the TSX Venture, with 60% taking place on less transparent “dark exchanges” on which institutional investors can trade out of the public eye.

Knoll says the outsized effects legal short-selling has on juniors could easily be remedied by bringing back the tick test. (He also says it’s one main reason Australia, which does have an uptick rule, has a stronger junior mining market than Canada’s; the other reason being the country’s requirement for pension funds to invest in Australian companies.)  But that would be counter to the interests of banks, which make money off every trade – including short sales — on their platforms and have more freedom to trade as they please without it.

CIRO proposal

Amended rules proposed by CIRO would require traders to demonstrate if the stock they want to short is hard to borrow, they’d have to actually show there’s stock available to borrow, or go as far as “preborrowing” the stock. If there is no ‘reasonable expectation” they will be able to settle the trade by the settlement date (within 2 days – on May 27 this changes to within 1 day), they can’t short the stock. As part of this requirement, CIRO sees dealers compiling lists of “easy to borrow” securities.

The proposal is open for comment until April 12.

In addition to the proposal, CIRO and CSA have established a working group looking at concerns raised by commenters through previous consultation, a CIRO spokesperson told The Northern Miner by email.

“This work will assess whether any potential rule amendments would be appropriate in the Canadian context. Any proposed rule changes that results from the working group’s recommendations would be published for public comment in the normal course.”

Elsewhere at PDAC, traffic in the Investors Exchange at the mineral exploration-focused show, which opened on Sunday has been pretty good – even at nickel and lithium juniors’ booths. Both metals sharply declined last year – lithium in the neighbourhood of 80% and nickel 40%.

One nickel junior attributed the steady stream of booth visitors to “bargain hunting,” while a lithium junior expressed hope that the lithium price, which has been rising recently, has bottomed.

The result of a strategic partnership between Tamarack and the Des Nedhe Group, the formation signifies a groundbreaking shift in procurement practices across Canada’s mining, industrial and construction sectors, Tamarack said.

By harnessing the specialized knowledge of the Des Nedhe Group, a First Nation-owned and operated organization dedicated to fostering economic development and empowerment within First Nations communities, Tamarack said the initiative aims to revolutionize the landscape of group purchasing, unlocking value for members and fostering sustainable, cost-effective practices.

Jordan Baptiste, a leader in Indigenous business development and the mining industry, will spearhead the newly formed GPO in Canada as managing director.

“Our aim is to provide our members with access to best-in-class suppliers, ensuring a cost-effective and secure supply chain that contributes to the sustainability of our business operations,” Baptiste said in a media statement.

Sean Willy, CEO of Des Nedhe, said the establishment of an accredited First Nations GPO represents a significant milestone in reshaping procurement within the Canadian mining and industrial sectors.

“This marks another pivotal moment in Canada’s journey toward sustainable resource and industrial development,” Tamarack CEO Ben-Schoeman Geldenhuys said.

“As we continue to grow our economy through mining, industrial development and construction, Tamarack remains committed to supporting our members’ growth through innovative group purchasing initiatives.”

The BFT is the slimmest pump-through formation tester ever made, Zelandez said, and can analyze fluid underground in real-time and capture multiple clean lithium brine samples from a well for further testing.

It is designed to address lithium miners’ needs by measuring aquifer pressure, analyzing fluids downhole in real-time, and obtaining representative brine samples, the company said, adding that it reduces the costs of lithium brine development when compared to the less accurate incumbent ‘packer testing method’.

The BFT enables the lithium mining industry to conduct rigless pressure and permeability testing and fluid sampling in slim boreholes down to 122mm (PQ) and provides testing and sampling in low permeability, laminated, fractured, unconsolidated, and heterogeneous formations, the company said.

It enhances lithium miners’ decision-making by delivering real-time access to actionable aquifer data. Through enhanced definition of the complex sub-surfaces poor well deliverability is mitigated, and it enables miners to understand better and meet their reinjection requirements, Zelandez said, adding that developers no longer need to depend on large rig-deployed sampling to retrieve brine samples from below ground.

“The BFT was built to address the specific challenges of aquifer testing and fluid sampling in lithium brine exploration and production. Instead of it taking weeks, it delivers results within hours or days,” Zelandez CEO Gene Morgan said in a news release.

“While formation testers are commonplace in the oil and gas industry, their size and cost have made them impractical for use in the brine field,” Morgan said. “The BFT has miniaturized this technology for lithium miners.”

More information is here.

At a luncheon taking place during the four-day Prospectors and Developers Association of Canada (PDAC) convention, hosts Gimaa Craig Nootchtai, Chief Larry Roque and Mayor Paul Lefebvre, along with mining sector partners, spoke of the significance of fostering alliances to create long-term, local economic prosperity through shared cultural and environmental values.

The event, attended by Indigenous organizations, mining company representatives, government officials and community leaders, emphasized the importance of building bridges between Indigenous communities and the mining sector.

“Partnerships between mining companies and First Nations demonstrate how we can work together to achieve shared objectives for the benefit of our communities. They set the stage for new opportunities and innovation, ensuring sustainability and stability in our mining sector,” Greater Sudbury Mayor Paul Lefebvre said in a media statement.

“The City of Greater Sudbury values these relationships and will continue to work with First Nation leaders to continue the progress toward reconciliation and to support shared community goals for the economic vitality of the community.”

The luncheon included narratives from the leaders of Aki-eh Dibinwewziwin (ADLP), an Indigenous-owned partnership between Atikameksheng Anishnawbek, Wahnapitae First Nation and Technica Mining that promotes sustainable mining practices while respecting Indigenous rights and traditions.

“Developing partnerships like ADLP ensures our traditions and culture are incorporated into our economic development values,” said Atikameksheng Anishnawbek Gimaa Craig Nootchtai.

“We continually seek sustainable and environmentally friendly solutions to meet the current and future needs of the mining industry, as the partnerships we establish today will continue to benefit our people for generations to come.”

Graphjet, a developer of patented technologies to produce graphite and graphene directly from agricultural waste, announced Monday it has accelerated the timeline for its planned manufacturing plant in Malaysia.

Graphjet’s technology uses eco-sensitive methods in a circular solution using waste and its processes eliminate emissions and pollutions, it said. The company has a $30 million offtake agreement with Toyoda Gosei.

The company is advancing construction of its first manufacturing plant in the Kuantan district of Pahang state, expected to be commissioned by the second quarter of 2024.

The facility is expected to recycle up to 9,000 tonnes of palm kernels, which is agricultural waste, to produce up to 3,000 tonnes of graphite per year. Over time, the Graphjet said it expects to scale the facility to 13,000 tonnes of annual graphite production by the second half of 2026.

“There is incredible whitespace opportunity for the use of palm oil waste in Malaysia to be leveraged to produce graphite and graphene,” Graphjet CEO Aiden Lee said in a news release.

“This expedited construction and commissioning timeline for our facility will enable us to support our customer Toyoda and generate revenues in the near term,” Lee said. “We look forward to establishing ourselves as a leading supplier of graphite as our current and prospective customers seek alternatives to navigate China’s restrictions.”

It showcases how engineers develop innovative solutions to address global challenges such as climate change, poverty and inequality in support of the UN Sustainable Development Goals (SDGs).

Celebrating engineers raises awareness about their contributions and inspires young minds to pursue careers in engineering, ensuring a talent pipeline for future generations.

Consulting engineering and infrastructure advisory firm Zutari showcases four exceptional women engineers from its ranks.

Hirna Bhikha, Civil Engineer, Built Environment:

Bhikha is the lead design engineer for civil infrastructure projects associated with residential and mixed-use developments, from concept to closeout. Her responsibilities involve designing, collaborating with professionals across various disciplines and ensuring deliverables align with Zutari’s standards.

Bhikha’s advice to young women is to find a mentor for guidance, to be confident in their unique contributions and take initiative in shaping their career path. “Embrace your authenticity; you do not have to change who you are to make a powerful and lasting impact,” she said.

Meaghan van der Velden, Process Engineer, Resources:

This is the third year van der Velden has been a part of a team consisting of both process and mechanical engineers in the Tshwane office. She works mainly on projects in the industrial, oil and gas and petrochemical sectors.

Having already worked on several projects with different teams and people, she has been  on-site as the only woman present. “I have learnt to recognise my own skills and talents. “I strive to ask questions and absorb knowledge, no matter who is in the room, so that one day I may be the best engineer I can be,” she said.

Vera Mpofu, Associate Engineer, Transport:

Mpofu is a professional Civil Engineer specialising in traffic engineering and transport planning, forming part of a team of senior and young engineers and transport economists from different backgrounds.

She is currently an Associate in the transport planning team at the Tshwane office.

 “My passion for making a difference is reignited when I see transport projects I worked on being implemented and making a difference, even in the smallest way, like recommending a walkway in a school vicinity,” she said.

Majd Mohamed, Electrical Engineer, Energy:

Working within the Transmission and Distribution) team, Mohamed mostly specialises in earthing and lightning protection studies for various energy facilities such as photovoltaic plants, battery energy storage facilities and substations. In addition, she is in involved in the design and construction management of electrical distribution projects.

“We are committed to fostering the growth of younger staff, empowering them to evolve into skilled and independent engineers. The continuous learning opportunities make each day at work both rewarding and exciting, transforming what could be routine into a dynamic experience,” she said.

ExoSphere, Fleet Space’s space-enabled mineral exploration solution, delivers 3D subsurface models in days, rather than months or years with other methods. Major miners including Rio Tinto, Barrick Gold and Core Lithium have used the technology to complete hundreds of surveys on different commodity types across five continents.

The research collaboration with Stanford’s Mineral-X aims to unlock innovation and accelerate a clean energy future leveraging space technology, the company said.

With faculty and scientists at Mineral-X, Fleet Space will engage in joint research on technological innovation to accelerate sustainable mineral discovery in support of the energy transition.

The focus will be on the optimization of drill targeting using satellite connectivity and space-enabled geophysical sensors to deliver real-time subsurface insight at scale — vital capabilities for increasing the accuracy and efficiency of exploration campaigns.

“The exploration technologies we’ve built at Fleet Space — enabled by our proprietary satellite constellation — represent a more sustainable and scalable path to increase the supply of energy transition minerals needed to achieve net-zero,” Fleet Space CEO Flavia Tata Nardini said in a news release.

Veracio, a mining technology company that formerly operated as Boart Longyear’s geological data services division, is unveiling new and refreshed orebody knowledge tools: TruScan TruProbe and Strata – designed to improve, automate and digitally transform orebody sciences in exploration, resource definition and production globally.

TruScan 2, featuring HyperXRF, a mineralogical solution integrated into Veracio’s core scanning platform has co-registered data streams from both hyperspectral and XRF scanning supported by enhanced QA/QC. The scanning capabilities of both chips and core provide scanning data, including mineralogical data, to teams within 24 hours. Field trials are commencing in early Q2, followed by first deliveries to customers in Q3 of 2024.

“Our new technologies, our team’s dedication, and our strategic acquisitions like Minalyze have all been steps towards realizing our overarching vision of transforming how we capture and utilize orebody knowledge, from exploration to production,” Veracio CEO JT Clark said in a news release.

TruProbe is an integrated app, cloud and stackable hardware solution; combining both rig and downhole sensing technologies. Building upon the foundations set by Veracio’s north seeking TruGyro, TruProbe “stacks” a robust gamma sensor to enable operators to log both borehole deviation and gamma simultaneously. On the rig, the app connects to an azimuth rig aligner and wireless depth counter.

Strata is Veracio’s cloud technology environment, and 2024 will see more added to the experience. This cloud environment ensures there are sophisticated software offerings available to pair with all Veracio hardware.

On Friday by midday, CRLM was up over 10%. European Lithium shareholders still have a $1.2 billion stake in the Wolfsberg lithium project in Carinthia, Austria, set to become the EU’s only producing battery-grade lithium mine by 2027, according to Critical Metals executive chairman Tony Sage. 

Sage is unfazed by both the drop in company shares during Wednesday’s debut, and by the current lithium price lows.

The company has secured supply agreements with BMW, and a deal ith Obeikan Investment Group to build a lithium hydroxide plant in Saudi Arabia. The 50/50 joint venture will be geared towards constructing, commissioning and operating the plant for the conversion of lithium spodumene concentrate.

“It’s a strategic plan. Wolfsberg is going to go through a two year construction phase — the next step is for finalising the Saudi deal, we expect by the end of March, ” Sage told MINING.com in an interview.

Sage is also eyeing rare earths and uranium projects, both brownfield and greenfield in the EU. European lithium already has a 7.5% stake in the Tanbreez rare earth project in Greenland, majority owned by Rimbal. With a 28.2 million tonne TREO resource, Tanbreez is ranked biggest rare earth project in the world.

Following construction at Wolfsberg by 2026, Critical Metals has agreed to supply BMW by 2027.

“I think if you’re in production now, you’re in a little bit of a problem, but we’re going to come out of the construction phase at the right time, supplying BMW. If you look at all the forecasts of every research house — It’s going to be a squeeze around that time, so prices should be up,” Sage said.

European Lithium produced a definitive feasibility study for Wolfsberg in 2023, but Sage pointed out the construction of the hydroxide plant now may be cheaper than what was in the original DFS and the OPEX numbers have improved.

Wolfsburg is fully permitted in perpetuity as long as work is ongoing, slated to be the next producing lithium mine in the EU, and the first to produce battery grade.

The pivotal role of lithium-ion batteries in the electric-vehicle revolution is driving the construction of about half a dozen refinery projects across Europe. At the same time, the strategic importance of those developments has been underlined by the European Union’s initiative to cut its dependence on China for critical raw materials. Europe’s only current lithium supply is from Portugal, but it is used only in ceramics. 

Rio Tinto’s plans for a $2.4 billion Jadar lithium project in Serbia fell flat when licences were revoked in January 2022 after protests over environmental concerns about the planned mine. Serbia Serbian Prime Minister Ana Brnabic said she does not see a chance of reviving the project.

“We’re lucky that we’ve got our permit in place and that the Austrian government is keen on our project,” Sage said. “It’s just a dichotomy when you’ve got the head bodies saying ‘we want this’ and then local governments are not allowing permits to happen.”

The NEBC Lithium – Formation Water Database project tested brines from deep below the surface at producing natural gas wells to create the first database of lithium and other critical metals in Northeast BC formation waters.

The results indicate that it may be economic to extract lithium from the brines alongside natural gas development in the region, Geoscience BC said.

The project, a collaboration between Geoscience BC, Lithium Bank, Natural Resources Canada and Northern Development, includes a detailed dataset and mapping that can inform decisions by industry, Indigenous groups, government and communities.

The study provides encouraging early results, Geoscience BC said, adding that further formation brine sampling and analysis will help to further understand the opportunity for lithium and other critical minerals in the subsurface of Northeast BC.

“There is high demand for secure sources of lithium. Data to locate, assess and extract this critical metal can help ensure a home-grown supply and boost Canada’s transition toward a net-zero emissions economy,” Randy Hughes, Geoscience BC manager, energy and water, said in a news release.