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)

Sandfire America scores legal win for Montana copper project

Staff Writer | February 27, 2024 |

Site of Black Butte project in Montana. Credit: Sandfire Resources America

Sandfire Resources America (TSXV: SFR) stock soared on Tuesday following a positive ruling by the Montana Supreme Court which reversed a district court decision and reinstated the permit for the company’s flagship Black Butte copper project.


For years, the Black Butte project has divided opinions amongst local communities because of its close proximity to Smith River, one of the state’s most popular recreational rivers. The proposed mine is located on private land some 27 km north of the town of White Sulphur Springs in central Montana.

In June 2020, a lawsuit was brought forward by local conservation groups against Tintina Montana — Sandfire’s subsidiary — as well as the Montana Department of Environmental Quality (MT DEQ) for certain violations against the state’s environmental and mining laws. Specifically, it argued that state officials did not thoroughly study the environmental harm that could result from the mine.

After hearing the plaintiff’s arguments, a district court judge issued a decision in April 2022 to invalidate Black Butte’s copper mining permit, though Tintina was allowed to complete the project’s Phase I construction while it pursues an appeal of the order.

In June 2023, the Supreme Court heard oral arguments on the case, and subsequently granted the company’s request for summary judgement to allow complete construction of its underground copper mine in Montana. Intervenors in support of Tintina and MT DEQ in the suit include Meagher County, Broadwater County and the Montana Department of Justice.

On Tuesday, Tintina won on all counts in the Supreme Court with a 5-2 decision, upholding the 2020 decision of the MT DEQ to allow copper mining at Black Butte, which, according to a 2020 feasibility study, will be underpinned by the large Johnny Lee deposit that is expected to produce 23,000 tonnes of copper a year during an eight-year life.

“The fact is, ours is the most reviewed and examined proposed project in the history of Montana mining. The Court record stands at over 90,000 pages of testimony, information, and analysis,” Sandfire America CEO Lincoln Greenidg said in a press release Tuesday.

“Today’s victory in the Montana Supreme Court is a validation of the thoughtful and deliberate efforts of the Sandfire America team to design a world-class, environmentally safe mining project from the beginning,” he said.

“Over a decade ago, we set out to design a state of the art, environmentally protective underground mining project, and this decision is proof we’ve been successful,” added senior VP Jerry Zieg.

The company now has all the permits necessary to proceed with the Black Butte project. Stipulated agreements regarding water rights granted through the Montana Department of Natural Resources and Conservation (MT DNRC) for the project have been finalized, Sandfire said.

Separately, there is an ongoing challenge to the Montana Constitution’s definition of the “beneficial use of water” related to Black Butte’s water use permit. The company noted that this case does not currently affect its water rights package. The challenge was appealed by objectors after losing a district court decision and will be heard by Montana Supreme Court on March 29, 2024.

Shares of Sandfire America surged 75% to a new 52-week high of C$0.14 by 12:15 p.m. ET on the Supreme Court win for its copper project. The company has a market capitalization of C$143.3 million ($105.8m).

Rio Tinto gets $13 million from Canada to decarbonize iron ore processing

Reuters | February 26, 2024 | 

Credit: Labrador Iron Ore Royalty Corporation

Rio Tinto said on Monday that the Canadian government had awarded it C$18 million ($13 million) to decarbonize iron ore processing in Labrador West.


The funding from the government’s Low-Carbon Economy Fund will enable Rio Tinto’s Iron Ore Company of Canada (IOC) to reduce the amount of heavy fuel oil that is used in the production of iron ore pellets and concentrate.

The government funding represents about 25% of the total cost of the project, with IOC funding the rest of the investment, Rio Tinto said.

Installation of new equipment will begin in the second half of the year and is expected to be completed in the first half of 2025.

One of the world’s largest iron ore producers, Rio expects to reduce about 2.2 million tonnes of greenhouse gas emissions over the lifetime of the project.

($1 = 1.3518 Canadian dollars)

(By Vallari Srivastava; Editing by Maju Samuel)

Group RRSP use rising as retirement savings burden 'largely on employees': experts

Daniel Johnson , BNN Bloomberg

Experts say group registered retirement savings plans (RRSPs) have risen in popularity as employees are increasingly tasked with retirement planning amid a broader decline in pension activity. 

Gren Austin, the head of Wealthsimple Work, said in an interview with BNNBloomberg.ca last week that his organization works with employers across Canada looking to create group retirement savings plans. He said that group RRSPs have become the most popular retirement savings plan among clients.   

“We know broadly that pension involvement is down over the decades. And so the onus becomes on the individual, on the Canadian, on the employee, to pay for their own retirement,” Austin said adding that group RRSPs can make a meaningful difference in retirement savings. 

In November of last year, research from Deloitte Canada found that only 24 per cent of private sector workers participated in an employer-sponsored pension plan. 

According to a statement from Wealthsimple on Tuesday, less than one per cent of Wealthsimple Work clients offer a pension plan. The statement said that consumer preferences are changing and employers “are realizing the cost requirements to run a pension are high and opt to follow the demand for group RRSPs.” 

“There is this decades-long historical arc, in that the big pension groups dominated the landscape for a long time in the 60s and 70s. And then those started to fade and things like GRRSPs took over as the main account that sort of dominated the space,” Gren said. 

Julie Petrera, senior strategist with Edward Jones Canada, said in an interview with BNNBloomberg.ca last week that while there is still some level of government assistance for retirement savings, employees take on the bulk of saving responsibilities.  

“The onus is largely on employees to save for their retirement in the absence of good pension plans,” she said. 

Group RRSP matching 

Austin said that group RRSPs often come with a matching component, where some employers will match employee contributions up to a certain level. 

“There's not a lot of other investment scenarios where you can just get that return right away and that's before even the market does its thing and compound interest does its thing. So, it's a really great vehicle to start saving and building up in your RRSP,” he said.

Colin White, the president and CEO of Verecan Capital Management, said in an interview with BNNBloomberg.ca last week that matching components for group RRSPs often range between two and four per cent. He also highlighted that group RRSPs often go unutilized. 

“There's an amazing number of people that don't take advantage of that and they really should. It's free money. If your employer's going to put money into an RRSP plan, you should take that money,” White said.  

Flexibility, transparency

According to White, the rise of group RRSPs has happened for a few reasons, including the difficulties operating pension plans. 

“Pension plans are difficult and complicated to maintain, and they do come with a financial liability that firms have struggled with. And as people have moved around more often in their careers, moving a pension plan is a very difficult and cumbersome thing to do,” he said. 

White also highlighted that traditional pensions are “restrictive from a legislative perspective” and come with liability. 

“So the group RRSP is a far more transparent solution. You know exactly where you stand at any moment in time and you see yourself making progress,” he said. 

White also noted that group RRSP offerings have risen in popularity amid a “more transient workforce” with employees changing jobs more frequently.

According to Petrera, group RRSPs can help employers with recruiting. 

“Group RRSPs are part of a compensation plan. And they’re something that employees would find attractive. So I think there's been a rise in these as employers seek to attract talent to organizations,” she said. 

Cineplex has made almost $40 million from online booking fees in competition case

Tara Deschamps, The Canadian Press

Cineplex Inc. has made almost $40 million from online booking fees at the heart of deceptive marketing claims the country's competition commissioner has made against the cinema chain.

An agreed statement of facts in the case before the Competition Tribunal shows Canada's largest theatre owner made over $11.6 million in the six months after the fees were implemented in June 2022. It made another $27.3 million on the fees in 2023.

Cineplex charges a $1.50 on every ticket purchased online, but Scene+ members get a discount and CineClub members have the fee waived.

Whether the way Cineplex presents the fees constitutes deceptive marketing and drip pricing — when a company displays a price it later tacks fees onto — has been debated in recent weeks before the Competition Tribunal in Ottawa.

Competition Commissioner Matthew Boswell has claimed the fees are deceptive because moviegoers are not presented with the full price of a movie ticket on the very first page they encounter when buying tickets from Cineplex.

Closing arguments filed by the commissioner on Monday claim Cineplex discloses the existence and amount a customer will pay in online booking fees "below the fold" or off the screen for the vast majority of moviegoers, thus misleading people about the final price they will pay.

He added that Cineplex also uses a countdown timer displayed at each stage of the purchase process, which "increases pressure on consumers to focus on completing their purchase, rather than considering transaction details and thinking things through."

When such tactics are used, "consumers tend to underestimate the total price of purchase" because they "pay less attention to additional fees than to base price information."

"The use of these pricing practices has been shown to increase consumer demand — in this case Cineplex has increased demand for its tickets than the demand that would occur if it initially displayed a truthful price of the ticket for a consumer," the commissioner's filing said.

He wants the tribunal to order Cineplex to stop drip pricing, remove the countdown timer from its website and app and pay a financial penalty equal to the amount Cineplex gained from "misleading conduct."

Cineplex has argued the commissioner's claims are without merit and should be thrown out, with costs awarded to Cineplex, because moviegoers are told about fees they may face from the start of the purchase process.

Cineplex spokeswoman Michelle Saba said in an email to The Canadian Press that the business would not comment on the matter while it is being heard by the tribunal.

The company's closing arguments were posted on the tribunal's website Tuesday evening.

In the documents, Cineplex says the commissioner's assertion that it engages in so-called drip pricing is a mischaracterization. It says there is nothing misleading about how it displays online booking fees and total online prices for customers purchasing on its website. 

However, the commissioner's submission said the fees Cineplex charges are a product of its efforts to grow its online ticket business that stretch back many years.

The submission said the chain started using reserved seating in 2017 and had expanded it to all theatres by June 2020, when the COVID-19 pandemic hastened online purchasing.

By 2021, the commissioner said roughly two-thirds of Cineplex's tickets were sold online or through its website.

The commissioner said the online booking fees applied in June 2022 came about "as part of a direction from Cineplex’s chief operating officer for Cineplex to consider different revenue-generating ideas."

By then, Cineplex had grappled with several health measures meant to quell the spread of COVID-19, including theatre closures and social distancing protocols, which weighed on its finances along with a failed sale to U.K. theatre giant Cineworld.

The fees were implemented the same month Canadian laws were changed to deem drip pricing to be false or misleading.

Prior to the fees, tickets booked online were advertised by Cineplex as carrying "no service fee," the commissioner said.

"As Cineplex readied itself for launching the fee, it ordered the removal of any signs that referred to the fact that Cineplex did not have service fees," the filing said.

"It sought to do so in a manner that would not arouse suspicion amongst staff in theatres that the policy might be changing."

This report by The Canadian Press was first published Feb. 27, 2024.