Simulated Star Collision Leads to Breakthrough in Nuclear Waste Treatment

By Brian Westenhaus - Feb 27, 2024

• The study presents a novel technique to quantify nuclear transmutation accurately, aiming to enhance the stability of radioactive waste and improve nuclear waste treatment facilities.
• 
  
• Inspired by recent observations of gravitational waves from neutron star mergers, researchers focus on understanding neutron interactions with elements like selenium, a common nuclear waste product, to predict transmutation rates.
• 
  
• The research not only advances nuclear safety but also establishes a bidirectional relationship between nuclear science and astrophysics, offering insights into the creation of elements in stars and impacting both fields.ur Community

Newly released University of Tokyo research reveals a method to more accurately measure, predict and model a key part of the process to make nuclear waste more stable. This could lead to improved nuclear waste treatment facilities and also to new theories about how some heavier elements in the universe came to be.

Simulation of neutron star collision. Detections of gravitational waves from merging neutron stars tipped off researchers here on Earth that it should be possible to predict how neutrons interact with atomic nuclei. ©2024 NASA’s Goddard Space Flight Center. Click the press release link for the largest view.

The reporting paper ‘Neutron capture reaction cross-section of 79Se through the 79Se(d,p) reaction in inverse kinematics.’ has been published in the journal Physics Letters B.

Nuclear power is considered one of the ways to reduce dependence on fossil fuels, but how to deal with nuclear waste products is a concern. Radioactive waste products can be turned into more stable elements, but this process is not yet viable at scale.

The very word “nuclear” can be a bit of a trigger for some people, understandably so in Japan, where the atomic bomb and Fukushima disaster are some of the pivotal moments in its modern history. Yet, given the relative scarcity of suitable space in Japan for renewable forms of energy like solar or wind, nuclear power is considered to be a critical part of the effort to decarbonize the energy sector. Because of this, researchers are hard at work trying to improve safety, efficiency and other matters relating to nuclear power.

Associate Professor Nobuaki Imai from the Center for Nuclear Study at the University of Tokyo and his colleagues think they can contribute to improving a key aspect of nuclear power, the processing of waste.

“Broadly speaking, nuclear power works by boiling water using self-sustaining nuclear decay reactions. Unstable elements break apart and decay, releasing heat, which boils water, driving turbines. But this process eventually leaves behind unusable waste that is still radioactive,” said Imai. “This waste can remain radioactive for hundreds of thousands of years, so it is usually buried deep underground. But there is a growing desire to explore another way, a way in which unstable radioactive waste can be made more stable, avoiding its radioactive decay and rendering it far safer to deal with. It’s called transmutation.”

Transmutation is like the opposite of nuclear decay; instead of an element breaking apart and releasing radiation, a neutron can be added to an unstable element changing it into a slightly heavier version of itself.

Depending on the initial substance, this new form can be stable enough to be considered safe.

The problem is, though this process has been generally known for some time, it has been impossible to quantify sufficiently accurately to carry the idea on to the next stage and ideally produce prototype new-generation waste management facilities.

“The idea actually came from a surprising source: colliding stars, specifically neutron stars,” said Imai. “Following recent observations of gravitational waves emanating from neutron star mergers, researchers have been able to better understand the ways neutrons interact and their ability to modify other elements. Based on this, we used a range of instruments to narrow our focus on how the element selenium, a common nuclear waste product, behaves when bombarded by neutrons. Our technique allows us to predict how materials absorb neutrons and undergo transmutation. This knowledge can contribute to designs for nuclear waste transmutation facilities.”

It’s difficult for researchers to make these kinds of observations; in fact, they are not able to directly observe acts of transmutation.

Rather, the team can observe how much of a sample does not transmute, and by taking readings to know that transmutation did in fact take place, they can estimate, albeit very accurately, how much of the sample did transmute.

“We are confident that our measurements accurately reflect the real rate of transmutation of unstable selenium into a more stable form,” said Imai. “We are now planning to measure this for other nuclear waste products. Hopefully, this knowledge will combine with other areas required to realize nuclear waste treatment facilities, and we might see these in the coming decades. Though our aims are to improve nuclear safety, I find it interesting that there is a bidirectional relationship between this research and astrophysics. We were inspired by colliding neutron stars, and our research can impact how astrophysicists look for signs of nuclear synthesis, the creation of elements in stars, to better understand how elements heavier than iron were made, including those essential for life.”

**

This is the most welcome kind of news. While the press release notices the source and interesting fact that this research has taken place in Japan, your humble writer would like to notice that again. It’s because the folks of Japan have the most concerns about the effects of radioactivity and are as certain as anyone, anywhere on the planet to need to produce the nation’s own energy.

It’s a very difficult situation. but the prime advantage is – facing the circumstances head on. That has a commanding train of thought.  The nation has little time or gives much attention to wasteful ideas, intermittent sources or emotional or political or rent seeking driven concepts. For Japan energy sources have to work 100% of the time at low cost and in great quantity.

They have nailed the obvious. Nuclear power. In spite of the history and experiences. It’s a certainty, if anyone can, the nation of Japan can make nuclear power the best choice possible.

Go Nippon!

By Brian Westenhaus via New Energy and Fuel

Is a Deep-Sea Mining Boom Inevitable?

By Felicity Bradstock - Feb 27, 2024, 

• Norway's recent approval of deep-sea mining sets a precedent for other nations, as they seek to access critical minerals necessary for renewable energy technologies.
• 
  
• While environmentalists and scientists oppose deep-sea mining due to potential ecological damage, the growing demand for critical minerals is driving interest and exploration in this sector.
• 
  
• The International Seabed Authority is expected to resume talks on deep-sea mining regulations, with concerns over environmental impact and calls for a pause on mining activities from various countries and major corporations.
• 
  

Just a month after Norway approved the world’s first deep-sea mineral mining, a UN regulator has stated that he thinks the international practice of deep-sea mining is likely inevitable. There is growing interest in commercial deep-sea mining for critical metals and minerals to support an accelerated global green transition. However, there is also widespread opposition due to fears of the environmental impact of these types of activities, which could hinder efforts to tackle climate change. 

At the beginning of the year, Norway became the first country to approve the practice of deep-sea mining for critical minerals. There has been a growing international discussion around the potential for deep-sea mining to extract metals and minerals needed to grow the world’s renewable energy capacity and help develop clean technologies. However, there has been widespread opposition to these types of mining activities from environmentalists and scientists who say we do not yet understand the potential impact of deep-sea mining well enough for it to be deemed safe. Many worry that the environmental impact of deep-sea mining could undermine the efforts of developing the world’s renewable energy capacity to tackle climate change. 

In January, the Norwegian parliament voted in favour of opening its waters for commercial-scale deep-sea mining to support a global shift away from fossil fuels to renewable alternatives. It also believes that deep-sea mining could be less harmful to the environment than land-based mining, the widespread practice currently used to extract metals and minerals. There is an abundance of potato-sized nodules of critical minerals, including cobalt, nickel, copper, and manganese, sitting on the bottom of the seafloor that Norway, and many other world powers, want to access through deep-sea mining to meet the growing demand for critical minerals from the green energy sector. However, Norway will not immediately commence mining operations. The government will instead assess proposals from mining companies on a case-by-case basis for license approval. 

This month, Michael Lodge, the head of the International Seabed Authority, the U.N. regulator that oversees deep-sea mining, said that he believes it is only a matter of time until deep-sea mining activities take place. Lodge is seeing renewed global interest in deep-sea mining as a means of accelerating the global green transition. Governments and regulators worldwide have been exploring ways to meet the growing demand for critical metals and minerals, for fear that demand will outstrip supply if we cannot access alternative mineral deposits. 

Lodge explained, “One of the main drivers of industrial interest is the potential to produce larger quantities of minerals at equivalent or lower cost to what can be produced on land.” He added, “That’s the commercial driver and certainly there is vast resource potential in seabed minerals. The question is whether they can in the end be produced economically. “But the resource potential is absolutely there. This is clear. The technology is advanced, so it seems like it is possible. And at the same time, it is very clear also that demand for minerals is increasing exponentially and is only going to continue to increase.”

The ISA is scheduled to recommence talks on deep-sea mining in Kingston, Jamaica, in March. If successful, this could lead to the development of a regulatory framework for deep-sea mining on a commercial scale. The ISA regulates mining across an area covering 54 percent of the world’s oceans, representing 68 member states as well as the EU, but not the U.S. The ISA Council has previously stated its intention to develop deep-sea mining regulations by 2025. However, 24 countries around the globe have called for a pause on these types of activities, supported by several major companies, such as Google, Samsung, and Volvo. Deep-sea mining requires the use of heavy machinery to remove metals and minerals from the ocean floor. There is a fear that commencing deep-sea mining operations before fully understanding the potential impact on the sea bed could lead to permanent harm to marine life and ecosystems. 

Nevertheless, Lodge believes it is only a matter of time until deep-sea mining activities are approved. He said, “Clearly now, we are reaching a very high level of interest so I would say that yes it seems to be inevitable.” Lodge added, “Whether that takes place in international waters, or in national waters, whether that be Norway or another country, that’s impossible to say. It depends in part upon the terms and conditions I suppose.” He emphasised the unsustainability of the current situation, with a few state powers dominating the mineral and metal mining industry – such as China and Russia, and suggested that deep-sea mining could create greater competition in the industry and provide the stable supply of resources needed to support a global green transition. 

By Felicity Bradstock for Oilprice.com

South African billionaire Wiese returns to his diamond-hunting roots

Bloomberg News | February 26, 2024 |


Christo Wiese, South Africa’s billionaire retail king, is going back to the future.


The 82-year-old serial investor, who steered the expansion of both Africa’s biggest clothing retailer and the continent’s largest grocer, has dived into something that harkens back to the start of his storied career nearly half a century ago: diamonds.

“I’ve always been fascinated by diamonds because it’s that amazing industry where you plod along and then one day stumble on a big stone that can change your whole life,” Wiese said over lunch at the summer-green vineyards of Beau Constantia, a wine farm in Cape Town. “This stretch of the Atlantic Ocean produces some of the world’s highest-quality diamonds.”

The theory goes that the more than 2.5 billion-year-old Kaapvaal Craton and shifting continental plates transported diamond-bearing detritus down South Africa’s Orange River to the south-western coast of the continent. It is here that Wiese dreams of finding a “big one,” leading the self-made tycoon over the last few years to spend at least some of his eight-hour work days on his mining business, which he says has already turned up a $10 million pink diamond.

Trans Hex Group Ltd., the mining unit Wiese owns with his son-in-law, plans over time to hunt for other sought-after minerals and metals like phosphate, lithium, gold and platinum. It has four large ships fitted with equipment that can look for these treasures by vacuuming up gravel from the ocean floor that’s processed on board before the tailings are tossed back into the sea. A state-of-the-art diamond recovery vessel can cost as much as $420 million.

The magnate, whose net worth is $1.2 billion, according to the Bloomberg Billionaires Index — down from $7 billion after he lost a sizable chunk of his fortune with the 2017 implosion of the furniture stores chain Steinhoff International Holdings NV — knows what he’s venturing into.

Wiese first got into alluvial diamonds in 1976 when he bought a mine along the Orange River. It was the country’s biggest behind those held by Anglo American-owned De Beers, the world’s top diamond producer, which also mines along Namibian waters.

It was “a very exciting proposition,” Wiese said of his first enterprise. He sold it about five years later because he wanted funds to buy control of the clothing chain Pepkor, which became his biggest asset.

Industry observers say Wiese’s revived passion for diamond mining may be riskier than any of the bets he’s made in the retail sector, and that it shows he has not lost his appetite for adventure even after being badly burned by his investment in Steinhoff.

“South African mining is made up of pioneers, but this type of mining is not easy and gives patchy profits at best,” said David Shapiro, who has 52 years of experience on Johannesburg’s stock exchange and is chief global equity strategist at Sasfin Securities. “He’s got enough money to do what he needs to do, so perhaps he’s willing to dabble in riskier ventures.”

Born the son of a sheep and cattle farmer in the remote, desert-like northern city of Upington, Wiese obtained a law degree from Stellenbosch University in 1967, after which he joined Pep — founded two years earlier with a single store in a rural railway town. He left the business briefly to practice law, and unsuccessfully stood for parliament for the Progressive Federal Party.

Turning his focus back to Pep, he became the biggest shareholder and chairman of the company in 1981, renamed it Pepkor, and helped oversee an aggressive expansion drive. Pepkor bought retail chains Smart Group Holdings, Cashbuild, Checkers and Stuttafords in 1991 and made its first offshore foray that year, opening a Your More Store outlet in Scotland.

Wiese spent three and a half decades building Pepkor into a formidable business with operations across Africa and Europe, and spun off and expanded Shoprite Holdings Ltd. to become the continent’s biggest grocer. Shoprite remains his star investment.

In 2014, he exchanged his $2.5 billion Pepkor stake for stock in Steinhoff. Three years later, auditors refused to sign off on Steinhoff’s accounts after uncovering financial irregularities, and its share price tumbled by about 90%. It later emerged that its management had vastly inflated profits. Wiese denied any knowledge of the malfeasance.

A sprightly octogenarian, Wiese keeps up with a wide range of his interests. While deeply involved in the nitty gritty of the retail business, he’s known to be able to jump into everything from a discussion on enabling more South Africans to own land, or the significance of a book he’s reading or even why Europe’s loss of community-style living hurts its economies.

The entrepreneur still drives his Lexus Landcruiser from his house in Clifton, the beach-front strip in Cape Town, to his office, from where he oversees his various businesses. These include gym chain Virgin Active and South African food maker Premier Group Ltd. He’s also recently invested in a medical malpractice insurance company.

Even with an established family office, Wiese says he has no plans to retire. He wants to continue working and to remain active, with his two resolutions for 2024 being to visit his 4,000-hectare (9,884-acre) Lourensford Wine Estate near Cape Town once a month and travel to his private wildlife reserve in the Kalahari desert more than a handful of times this year, he said.

“Many people think I’m crazy to still come and sit in the office every day,” he said. “But I think, while you’re alive, be active, be part of life. And I enjoy it, even when we sit here sometimes really struggling with challenges.”

These include operating in a country with the gross domestic product growing less than 1%, inflation at 5.1% and unemployment at almost 32%.

Wiese, like most South Africans, is closely watching the country’s politics as it gears up this year for what is expected to be its most significant election since the end of Apartheid 30 years ago. He expects the ruling African National Congress to be more heavily challenged than it has been since it started ruling over the newly democratic nation in 1994.

This would be “a good change,” he said, adding that for all South Africa’s problems, there is nowhere else he’d rather live. All three of his children live near him.

Still, the country’s economic travails have placed a ceiling on the revenue growth of the retailers he owns — a limitation those companies are seeking to mitigate by claiming a bigger share of the local market through greater digitization. Wiese says that Shoprite is almost becoming a “digital business that has a grocery store attached.” The company’s Checkers Sixty60 was South Africa’s first one-hour grocery delivery app and makes up more than three quarters of the country’s on-demand delivery spend on such products.

The marine diamond mining business has provided some further diversification — albeit not without its own risks. Prices of the gems have been cut this year as suppliers try to revive sales, while production costs remain high. Beside the expensive vessels, offshore miners apply for concession areas that are usually hundreds of square kilometers and they need specialized crew who stay on board for weeks at a time.


There’s also opposition from scientists with environmental concerns. The impact of ship-based mining remains largely unknown and “without dedicated monitoring and ecological impact assessment, it is very difficult to detect the effects on the marine environment,” Iona Blair wrote in a paper published by University of Cape Town. A lot of people along Namibia and South Africa’s west coast make a living from fishing.

Norway’s recent decision to allow seabed mining exploration in its waters caused a call for a pause on such activities until regulations for mining in international waters are established.

Compared to Norway, however, the work Trans Hex does is in relatively shallow waters. Scientists contracted by Trans Hex concluded that some disturbance of the ocean floor, that has been untouched for millions of years, does not harm. The company also employs a few hundred people and brings in foreign currency through diamond sales, Wiese said.

“We think that on balance it’s a positive,” he said.

(By Janice Kew)

Oil and gas upstream M&A deal value hits highest Q1 levels since 2017

Reuters | February 27, 2024 

Oil Platform in the Pacific Ocean. Stock image.

An ongoing consolidation in the US shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.


Deals worth more than $55 billion have been announced in the first two months of 2024, according to analytics firm Enverus, as publicly traded companies take advantage of their high share price to gobble up smaller firms.

Some of the major deals include Diamondback Energy’s $26 billion offer to acquire Endeavor Energy Partners earlier this month and APA Corp agreeing to buy Callon Petroleum for $4.5 billion in January.

The total value of deals in January and February has already hit the highest level since the first quarter of 2017 when $68 billion worth of deals were announced, and is also more than double that announced in the first quarter of 2023.

Deals involving US shale firms represented more than 80% of the total value, Enverus said.

“With another estimated $55 billion worth of assets up for sale in the US shale, we expect this shale domination in overall M&A activity to continue,” said Palash Ravi, Rystad Energy senior M&A analyst.

An uptick in international M&A activity has also helped boost overall deal value.

European majors have driven much of the activity, representing 66% of the overall international M&A deal value so far in 2024, as per Rystad Energy data.

Industry experts also expect some consolidation in the US shale gas sector in 2024, following a period of muted activity due to a drop in Henry Hub prices.

“Future gas M&A is likely to be driven by outside buyers that lack exposure to US shale gas assets or cases where there are large in-basin synergies to capture,” said Andrew Dittmar, a senior vice president at Enverus.

(By Mrinalika Roy; Editing by Shweta Agarwal)

Canada Rare Earth Establishes Rare Earth Supply Chain Operations in DRC Through Subsidiary Simba Essential Minerals

Newsfile Corp.
Mon, February 26, 2024 

Vancouver, British Columbia--(Newsfile Corp. - February 26, 2024) - Canada Rare Earth Corp. (TSXV: LL) ("Canada Rare Earth" or the "Company") is pleased to announce the establishment of rare earth supply operations in the Democratic Republic of Congo ("DRC") marking a significant milestone in its expansion strategy. Concurrent with this expansion, Canada Rare Earth's trading operations have demonstrated strong performance, with transactions exceeding $7,500,000 since the commencement of the fiscal year on April 1, 2023. The Company has also acquired $1.5 million of trade-focused capital to facilitate increased supply volumes of essential mineral concentrates for its customers.

The proprietary operations in the DRC will be conducted through its wholly-owned subsidiary, Simba Essential Minerals S.A.S., incorporated in December 2023 ("Simba") under the direction of Mr. Steve Sadiki, the CEO and President of Simba.

Steve Sadiki, CEO and President of Simba Essential Minerals, stated, "By establishing our proprietary operations, we are simultaneously expanding Canada Rare Earth's supply capabilities while instituting a more controlled and secure source of rare earth minerals from the Kivu Provinces, a region well known for its rich mineral resources. We are dedicated to harnessing these resources responsibly, bringing benefits not only to our shareholders but also to the local communities that are integral to our operation."

The DRC, particularly the Kivu Provinces, is renowned for its abundant mineral deposits, including rare earths, making it a strategic location for Canada Rare Earth's expansion efforts.

"The geological richness of the Kivu Provinces provides us with a unique opportunity," Bob Schafer, a member of the Company's board of advisors, commented. "As a key stakeholder in Simba Essential Minerals, I see our move into the DRC as a game-changer that will yield long-term benefits through an enhanced supply of rare earth elements essential for modern technology."

Key Highlights of Canada Rare Earth's operations in the DRC:

Local Leadership: The operations in the DRC are under the expert guidance of Mr. Steve Sadiki, a highly experienced and well-established American-Congolese businessman who ensures a deep understanding of local dynamics and fosters strong community relations.


Artisanal Mining Cooperatives: The initial startup supply will be sourced from local artisanal mining cooperatives, promoting responsible sourcing and empowering local miners.


Supply Expansion: Rare earth concentrate supply is expected to ramp up from 100 to 500 tons per month by mid-2024, signifying substantial growth in production capacity.


Investment in Technology: Canada Rare Earth will invest in state-of-the-art processing technology and equipment to enhance production efficiency, maintain product quality, and reduce operating costs.


Mineral Concessions: The Company is actively exploring mineral concessions for acquisition, intending to secure 2-3 exclusive sources of rare earth concentrate and other minerals for purchase and operation by the end of 2024. These proprietary concessions will significantly boost supply and reduce costs, complementing the artisanal supply chain.

As part of its commitment to sustainable development and corporate responsibility, Canada Rare Earth is dedicated to delivering economic and social benefits to the local community, and a portion of sales revenue will be allocated to fund social development initiatives, fostering positive change in the region. The Company will continue to provide updates on its progress as it works towards the sustainable development of its operations and the enrichment of local communities in the Democratic Republic of Congo.

Don Anderson, CIO of Canada Rare Earth, expressed enthusiasm, stating, "Establishing proprietary supply operations in the Democratic Republic of Congo through Simba Essential Minerals is a major advancement in the Canada Rare Earth growth strategy. In Simba, we have an excellent Congolese team and we will have much better control of quality and shipments to enable us to grow our product supply to meet our growing customer demands."

Furthermore, the Company is progressing in finalizing the acquisition of a majority stake in Privco, which will provide a substantial and reliable supply of essential minerals.

Peter Shearing, CEO, commented on the Company's swift progress and the strategic significance of the Privco acquisition to the Company's revenue and supply chain prospects, "Our Company's trading infrastructure has made rapid strides, and the volumes we've secured are substantial. We're optimistic about the growth ahead. With the Privco acquisition nearing completion, we expect to see a tangible increase in near-term revenue and cash flow. Following the acquisition, we're set to begin direct shipping rare earth minerals to our established customer base from the ready-to-operate Privco site."

About Canada Rare Earth Corp.

Canada Rare Earth Corp. operates a rapidly growing global essential minerals business built from over a decade of success in rare earth minerals and products. Our strategy leverages near-term positive cash flow opportunities supporting our business growth, including acquiring and developing proprietary projects, resources and processing capabilities and facilities. For more information on our strategy, please see our updated corporate overview at www.canadarareearth.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company's continuous disclosure filings with the Canadian Securities Administrators, available on the SEDAR+ website at www.sedarplus.ca.

Chinese money still chasing Canadian critical mining deals despite Ottawa’s scrutiny

Reuters | February 27, 2024

The Toronto Stock Exchange. (Stock image)

A year after Canada tightened foreign investment rules for the critical minerals sector, Chinese money has continued to pour into Toronto-listed miners, according to proprietary research conducted by the University of Alberta.


The inbound flow is raising hopes among some junior miners that it will be easier to find Chinese funding.

Canada had forced three Chinese investors to sell their stakes in Canadian critical mineral companies in 2022. Some of these companies did not have their mines in Canada.

In October 2022, the government added an extra layer of scrutiny for inbound deals in critical minerals.

The changes did not specify which country’s investments would be scrutinized, but the government says it wants to secure the critical minerals sector, which is strategic to Canada’s national security.

Still, Canada’s critical miners received at least a dozen investments worth C$2.2 billion ($1.6 billion) in 2023 from new and existing investors in China and Hong Kong, a huge increase over C$62 million in 2022, data compiled by the University of Alberta’s The China Institute shows.

“What you are seeing is the reality, that there is no blockade of Chinese investments in Canada… it is a perception issue,” said Dean McPherson, head of mining, TMX Group Ltd.

“Chinese investors are not shy to risk, they are willing to stick in and ride it out (in Canada),” Mcpherson added.

Daniel Lincoln, a researcher with The China Institute, told Reuters Canada may find it difficult to regulate all Chinese mining acquisitions notwithstanding the provisions in the Investment Canada Act, especially when both buyer and seller are keen for the transaction.

In a latest test of Canada’s new rules, China’s state-owned Zijin Mining Group last month offered to buy a 15% stake in Solaris Resources Inc for C$130 million.

While Canada lists copper as a critical mineral, the deal is likely to be approved since the funds will be used to develop Solaris’ copper-gold project in Ecuador, two sources familiar with the deal told Reuters.

Solaris and Zijin did not respond to an email query by Reuters.

A spokesperson for the Ministry for Innovation, Science and Industry declined to comment on the Zijin deal, but said the government must examine each investment on its merit to ensure Canada remains open to necessary foreign direct investment.
Copper assets in demand

Chinese investors have been among the most active in Canada’s mining industry, plowing C$21 billion between 1993 and 2023, according to data from The China Institute.

Last year, copper companies were the most targeted by Chinese investors. MMG Africa Ventures, a unit of state-backed China Minmetals Corp, bought a copper mine from Vancouver-based Cuprous Capital Ltd for C$1.7 billion, and Hong Kong-based Greenwater invested C$13 million in Gowest Gold, the data shows.

Jiangxi Copper Co Ltd increased its stake in First Quantum Minerals Ltd to 18.5% from 18.3% and the Chinese company also bought $20 million worth of senior notes in the Canadian company last year, regulatory filings show.

Some smaller miners and explorers have been lobbying the Canadian government to allow more Chinese investments, citing difficulty in raising capital.

On Sunday, Chinese miner Yintai Gold agreed to buy Vancouver-based Osino Resources for C$368 million. Osino and Yintai did not respond to a Reuters query about if they are seeking Canadian government approval for the deal. Gold is not considered a critical metal by Canada.

Michelle DeCecco, chief operating officer of Lithium Chile, one of the three companies that Canada ordered to get rid of its Chinese investor, told Reuters there was no softening in Ottawa’s stance because of which companies are finding alternative ways to secure Chinese funding.

Soon after SRG Mining Inc received a C$16.9 million investment proposal from C-ONE, backed by Chinese entrepreneur Yue Min, the Montreal-based graphite miner announced plans to change the country where it is incorporated. On Monday, it said it would incorporate in Abu Dhabi Global Markets while maintaining its Canadian stock market listing.

SRG Mining did not respond to an email query by Reuters.

“Unfortunately, it is often to take their companies out of Canada; away from Five Eyes,” DeCecco said, referring to the intelligence sharing network comprising of the United States, Britain, Canada, Australia and New Zealand.

($1 = 1.3522 Canadian dollars)

(By Divya Rajagopal and Julie Zhu; Editing by Denny Thomas and David Gregorio)

SRG Mining’s move to UAE would avoid national security review on Chinese investment in Canada

SRG Mining (TSXV:SRG) said on Monday it is redomiciling to the Abu Dhabi Global Market in the United Arab Emirates (UAE).

The redomiciliation, SRG said, will provide the company with expanded “strategic optionality” as the UAE has a double taxation treaty and a bilateral investment treaty with the Republic of Guinea, West Africa, where SRG’s main asset, the Lola Graphite project, is located.

The move will also avoid a national security review into its financing deal with China’s Carbon ONE New Energy Group (C-ONE), the Globe and Mail reported.The Canadian government has scrutinized Chinese investment in the country’s junior mining sector, and in 2022 asked three Chinese companies to sell their stakes in Toronto-listed lithium explorers after a national security review, a move that raised questions about the future of other Chinese investments in the Canadian mining sector.

Canada’s Energy and Natural Resources Minister Jonathan Wilkinson told Reuters last year that the Canadian government would not force Chinese state investors to divest their stakes in large mining companies, including Teck Resources, Ivanhoe Mines and First Quantum Minerals, to avoid policy uncertainty.

C-ONE, a private anode materials company based in China, announced in July 2023 it planned to invest C$16.9 million ($12.7 million) into SRG in exchange for 19.4% of SRG’s share capital, matching La Mancha’s stake in the company upon exercise of its anti-dilution right. The deal established C-ONE as one of SRG’s largest shareholders.

The funds will be used to advance SRG’s large-scale mine development project in the Republic of Guinea ─ the Lola graphite project ─ as well as the development of an anode material plant, the location of which is yet to be determined.

The company said at the time the transaction is subject to registration with Chinese regulatory agencies as well as the Canadian Government, pursuant to a voluntary notification filing pursuant to the Investment Canada Act.

The company said it has met with other strategic partners who have expressed interest in becoming a Tier One supplier to the Western battery end markets and has been advancing discussions with multiple parties who have expressed interest in providing financing to advance SRG towards first production.

Located approximately 1,000 km southeast of Conakry, the capital of Guinea, the Lola deposit boasts a large mineral reserve of 42 million tonnes at a grade of 4.17% graphitic carbon (Cg). 

Over an estimated mine life of 29 years, it is expected to produce 54,600 tonnes of natural flake graphite annually.

SRG is currently updating the project’s feasibility study to confirm the capital and operating costs for a target initial production of 100,000 tonnes per annum, double from the initial 50,000 tpa envisioned in the 2019 feasibility study.

SRG said it aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets.

Fury Consolidates Interests at Éléonore South Gold Project to 100%

Mon, February 26, 2024

VANCOUVER, BC / ACCESSWIRE / February 26, 2024 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that Fury and certain affiliates of Newmont Corporation ("Newmont") have entered into an agreement whereby Fury will purchase Newmont's 49.978% interest in Éléonore South for C$3M. As part of the consolidation of Éléonore South, Fury has also agreed to purchase Newmont's 30,392,372 shares of Sirios Resources Inc. ("Sirios") for C$1.3M. The Sirios shares will be acquired for investment purposes and Fury will evaluate its investment in Sirios on an ongoing basis with respect to any possible additional purchases or dispositions. Completion of the purchase is subject to certain conditions precedent and is expected to close in late February or early March 2024.

"We value the strong relationship with Newmont and are confident that this transaction is a positive outcome for both companies," commented Tim Clark, CEO of Fury. "Our team has historically ranked the ESJV as one of our more prolific targets for discovery. As such, we are excited to now have 100% ownership as we expect this to provide a clearer pathway for more exploration and potential upside in returns for our investors from this project consolidation and investment in Sirios."

Éléonore South Project

The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo deposit to the east (Figure 1). Prospecting to date has identified two distinct styles of mineralization within the project, structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Éléonore Mine as well as intrusion-related disseminated gold mineralization similar to that seen at the low-grade bulk tonnage Cheechoo deposit with higher grade potential as seen at the JT and Moni prospects on the project (Table 1 and Figure 2).

Numerous gold in-till anomalies remain undrilled throughout the project (Figures 1 and 2) and will be a focus for Fury. The bulk of the untested gold anomalies are similar in characteristics to the Cheechoo style of mineralization. The JT and Moni prospects represent a potential higher-grade style of intrusion related gold mineralization with historical drilling intercepting 53.25 metres (m) of 4.22 g/t gold (Au); 6.0m of 49.50 g/t Au and 23.8m of 3.08 g/t Au (Figure 2). Several of the noted drill intercepts have not been followed up on and remain open.

Table 1: Regional styles of gold mineralization



Figure 1: Éléonore South Project Location.


Figure 2: Drilling around the Cheechoo Tonalite showing historical drill intercept highlights.

"Given the calibre of gold anomalies that we see at Éléonore South paired with the access to infrastructure and excellent address, we are looking forward to exploring the project in 2024. The project is surrounded by over 4.5 million ounces of gold in two distinct mineralization styles which speaks to the overall strength of the regional gold system indicative of the exploration potential. Our team is excited to apply Fury's systematic and disciplined exploration approach to Éléonore South," stated Bryan Atkinson, P.Geol., SVP Exploration of Fury.

Historical JT and Moni Drilling

Analytical samples were taken by sawing BTW diameter core into equal halves on site and sent one of the halves to ALS Lab in Rouyn-Noranda, Val d'Or, QC, and Sudbury, ON for preparation and analysis. All samples are assayed using 50 g nominal weight fire assay with atomic absorption finish (Au-AA24) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-AA24 results were greater than 3 ppm Au the assay were repeated with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good accuracy and precision in a large majority of standards assayed. True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.

David Rivard, P.Geo, Exploration Manager at Fury, is a "qualified person" within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 59.5 million common share position in Dolly Varden Silver Corp (22% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com.

Forward-Looking Statements and Additional Cautionary Language

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable securities laws, which statements relate to the future exploration operations of the Company and may include other statements that are not historical facts. Forward-looking statements contained in this release primarily relate to statements that suggest that the completion of the buy-out between Fury and Newmont will be completed on schedule or at all.

Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise.

Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2022 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca and the Company's Annual Report available at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.

SOURCE: Fury Gold Mines Limited

Panama to defend interests in First Quantum case, official says

Reuters | February 26, 2024 | 

Credit: Minera Cobre Panama

Panama will defend its interests in a legal dispute with Canadian miner First Quantum, Panama’s deputy finance minister told Reuters on Monday.


The miner had last week said it was seeking $20 billion through international arbitration after Panama ordered the closure of a major copper mine there.

The government ordered the shutdown in December after protests calling for more environmental protections erupted across the country and a court ruling deemed the contract to run the mine unconstitutional.

“As we have done before will defend the interests of the Republic of Panama,” deputy minister Jorge Almengor said on the sidelines of an event, adding the state would need to show the court that the state respects foreign investment.

He noted that the court’s decision on the mining contract was independent.

The Cobre Panama mine had represented about 5% of Panama’s gross domestic product.

(By Elida Moreno; Editing by Anthony Esposito and Kylie Madry)

ONTARIO RING OF FIRE

First Mining road project put on hold

Dryden, ON, Canada / CKDR

Randy Thoms

Feb 27, 2024 | 1:05 PM

Map courtesy First Mining Gold

The construction of a mining access road near Cat Lake First Nation is now on hold.

A court judge has granted, at the request of the community, an interim order pausing the work by First Mining Gold.

The company received permission from the Ministry of Natural Resources and Forestry to build an 18-kilometre road to its Springpole mining project.

The company wants the road to avoid travel over winter roads.

Since establishing a camp in 2015, First Mining has used an ice road to move supplies and access the site.

It travels 40 kilometres, of which 34 is over ice and half over nearby Birch Lake.

First Mining says there have been several incidents of vehicles breaking through.

Cat Lake objects to the work, saying the Ministry ignored the community’s moratorium on mining exploration and related road work within its traditional territory.

First Mining indicates it proactively engaged with the area’s Indigenous communities over the past year regarding the safety concerns of using the ice road in light of the warm conditions experienced.

Chief Executive Officer Dan Wilton says he is disappointed by the band’s decision but is open to further talks.

“First Mining continues to listen to the concerns of Indigenous communities and is always willing to meet with community leaders to discuss these and any other matters regarding our activities in their traditional territories,” says Wilton in a release.

First Mining adds it has committed significant resources toward consultation efforts with the area’s Indigenous communities and is committed to working with them to understand the potential impacts on their rights and the traditional land users around the exploration Camp.

Gold in the Cold: First Mining's Winter Road Project Faces Legal Challenge in Northwestern Ontario

Discover the ongoing battle between economic development and indigenous rights in northwestern Ontario, as the construction of a winter road to the Springpole Gold Project exploration camp sparks legal resistance from the Cat Lake First Nation.

BNN Correspondents
26 Feb 2024


In the heart of northwestern Ontario, a battle unfolds that pits the promise of economic development against the preservation of indigenous rights and environmental integrity. On February 9, 2024, First Mining Gold Corp. received construction permits for a temporary winter road leading to the Springpole Gold Project exploration camp. This development, heralded by some as a step forward in the gold exploration sector, has been met with legal resistance from the Cat Lake First Nation, sparking a conversation that transcends the mere construction of an 18 km pathway through the wilderness.

The Road Not Taken Lightly

The proposed winter road is not just a matter of logistics but a narrative of safety, environmental stewardship, and community engagement. Designed to provide a safer alternative for transporting supplies and personnel, the road aims to mitigate the risks posed by increasingly unreliable ice roads—a consequence of warmer winter conditions. Since 2015, First Mining has operated the remote exploration camp with a commitment to minimizing environmental impact and respecting traditional land use practices. Yet, the road's construction has been paused by an interim stay, following the Cat Lake First Nation's notification of their intent to challenge the permits issued by the Ontario Ministry of Natural Resources and Forestry.

A Legal and Ethical Quagmire

The challenge put forth by the Cat Lake First Nation underscores a complex intersection of legal rights, environmental ethics, and indigenous sovereignty. While First Mining emphasizes its dedication to safety and environmental responsibility, the First Nation's concerns highlight the potential for disruption and the need for thorough consultation and consent processes. This scenario is emblematic of a broader dialogue in Canada and worldwide, where the rights and wishes of indigenous communities are increasingly recognized in the face of industrial expansion.

Looking Forward: Engagement and Resolution

Despite the current legal standoff, First Mining maintains its commitment to ongoing dialogue and engagement with the Cat Lake First Nation and other indigenous communities. The outcome of this situation could set a precedent for how resource exploration companies and indigenous territories can coexist and collaborate. As the legal process unfolds, both parties may find an opportunity to redefine the parameters of mutual respect, environmental stewardship, and economic development in a way that honors the land and its original caretakers.

In this unfolding story of gold, ice, and indigenous rights, the path forward is as much about building bridges of understanding and cooperation as it is about constructing a road through the wilderness. As the case progresses, it will undoubtedly continue to attract attention from those invested in the future of resource exploration, indigenous sovereignty, and environmental preservation in Canada and beyond.

Cat Lake First Nation Files Court Injunction to Stop First Mining Gold

By NNL Digital News Update
-February 23, 2024

Cat Lake First Nation (CLFN) has filed for an injunction in the Divisional Court of Ontario seeking to stop First Mining Gold (FMG) from constructing a new access road using Permits issued by the Ontario Ministry of Natural Resources & Forestry (OMNRF). This is against the wishes of CLFN on whose ]territory the new road is being built. The road construction is underway at a fast pace and Ontario and FMG have refused to stop construction.

The permits allow FMG to construct an 18 km road through Cat Lake’s traditional territory (440 Km NW of Thunder Bay). The successful injunction would halt FMG’s construction until the resolution of Cat Lake’s application for judicial review.

Cat Lake First Nation Chief Russell Wesley stated, “Ontario’s actions here fall far below their constitutional duty to consult and accommodate Cat Lake’s rights.” He went on to say, “Ontario’s decision and actions was made in defiance of a well-documented Moratorium on mining in the Cat Lake Territory and numerous public statements of opposition. Recently, I predicted in media interviews that the OMNRF would issue the permits despite Cat Lake First Nation’s concerns. This has happened, the OMNRF has forced Cat Lake First Nation into the courts.”

Cat Lake First Nation filed documents with the Superior Court of Justice (Divisional Court) in Thunder Bay on Feb 21st, 2024. The injunction would prohibit FMG from taking any steps to construct its proposed road from the end of the Wenasaga Road to its Springpole Gold Project exploration site, pending the resolution of Cat Lake First Nation’s application for judicial review.

Cat Lake has always maintained that it is still considering the development of the Springpole Mine Project in its traditional territory. Before Cat Lake can consent to any development it has consistently sought to better understand the potential impacts of the project on its Aboriginal rights, including the impact on the ability of members to exercise their rights to hunt, fish, and trap in the area, as well as the impact on possible sacred sites, such as pictographs and burial grounds of Cat Lake members and their ancestors. The OMNRF permit approval has significantly destabilized this situation.

Chief Russell Wesley observed, “Once such a road is built—cutting down trees, harming local wildlife habitat used by moose caribou and wolverine, depleting fish stocks, damaging sacred Cat Lake cultural sites, and disturbing Cat Lake burial grounds—such actions, and their harms, cannot be undone. Only the requested orders can prevent such harms until the serious issues in the underlying application are heard on the merits.”

The Chief said, “I am deeply concerned over the obvious prioritization of miner safety and the economic interests of mining companies over the safety and well-being of the Cat Lake community members. The five-year permit granted by MNRF is for the entirely land-based road route in stark contrast to Cat Lake First Nation being accessible by a seasonal winter road with several water crossings, made more dangerous and less predictable by climate change.”

The OMNRF issuance of these permits signals a lack of regard for the community’s voice and raises doubts about the Ontario government’s awareness of free, prior, and informed consent.

Cat Lake never signed any treaty with the Crown relinquishing its Aboriginal title or relinquishing its Aboriginal title or Aboriginal rights. Cat Lake was not a signatory to Treaty 9 in 1905-1906.

“We demand equal treatment and consideration for the well-being of our people as we continue to work towards protecting our rights and land,” Chief Wesley concluded.

Cat Lake First Nation Partners with Finnish Companies for Forest Biomass and Health Diagnostics Initiatives

By Don Huff

Huff Strategy

February 26, 2024

Category: Forestry

Region: Canada, Canada East

THUNDER BAY, Ontario — Cat Lake First Nation signed Memorandums of Understanding (MOUs) with two leading Finnish organizations to collaborate on forest biomass and long-distance healthcare diagnostic initiatives. …The first partnership involves a health diagnostics initiative with 73Health, focusing on deploying advanced remote medical diagnostic solutions for the benefit of remote communities, including Cat Lake First Nation. This initiative is part of 73Health’s expansion plans across North America, with Ontario being a priority location. …The second partnership with Natural Resources Institute Finland (LUKE) aims to advance a Northern Bioeconomy Network, focusing on scientific and academic exchange and the sustainable utilization of forest biomass resources for economic growth. The intent is to complete an ecological and economic master plan within a year. … Minister Graydon Smith said “Funding delivered by the Indigenous Bioeconomy Partnerships stream will ensure Ontario’s growing forest bioeconomy builds prosperity for Indigenous businesses and communities.”

Anglo spinoff breeds fish to restock rivers after massive toxic spill
Bloomberg News | February 27, 2024 | 



In a South African first, a project funded by one of the country’s biggest coal mining companies has begun repopulating a river system with fish after a catastrophic spill from a disused coal mine.


The project is being financed by part of the roughly 1 billion rand ($52 million) provided by Thungela Resources Ltd., a company spun off by Anglo American Plc, for rehabilitation and securing disused mine shafts.

The goal is to reintroduce 17 species of fish, ranging from hardy tilapia to eels and tiny catfish, to the 112 km (70 miles) of the Wilge and Olifants river systems that were wiped out by the Feb. 14, 2022, spill of acidic water after illegal miners broke a seal at an operation that had been shuttered since the 1960s.

The 2022 toxic spill is indicative of the environmental risks posed to South Africa from the more than 400 disused coal mines in the country. Along with idled gold mines, these are being targeted by illegal miners who profit from tapping the remaining reserves. The spill was from an operation near the Khwezela Colliery in South Africa’s eastern province of Mpumalanga.

“The impact environmentally goes far beyond the few tons of coal people will steal,” July Ndlovu, Thungela’s chief executive officer, said at an event at the Loskop Dam Nature Reserve on Feb. 23.

The mining company is funding a fish breeding facility at the reserve that began releasing banded tilapia and southern mouthbrooders, two small cichlid species that will need to establish themselves in the rivers before larger predatory species are put back. Other fish to be reintroduced include longfin eels, shortspine suckermouths, yellowfish, stargazer catfish and bulldogs, a small fish that generates an electric field to hunt and orient itself.

“I’ve been working in nature conservation for 42 years and this is the cherry on the cake,” said Andre Hoffman, an aquatic scientist brought out of retirement to work on the project. He spoke as he slowly coaxed small southern mouthbrooders out of a plastic container into a stream. “It’s not nice for this to have happened but we can learn a lot from it.”

The river system could take five to 10 years to recover even with the intervention, but need take 40 to 50 years without it, he said.

In addition to the breeding facility, Thungela has built water treatment plants at a cost of 398 million rand and is restoring wetlands, setting up a plant nursery and restoring vegetation. Over 500 million rand has been spent securing old mines.

(By Antony Sguazzin)