Showing posts sorted by relevance for query Falconbridge. Sort by date Show all posts
Showing posts sorted by relevance for query Falconbridge. Sort by date Show all posts

Friday, August 05, 2022

BC
Eagles being unnecessarily injured on Haida Gwaii


Thu, August 4, 2022 

Volunteers on Haida Gwaii have rescued 13 injured eagles since December 28, 2021 and most of the incidents are preventable, Leila Riddall, a volunteer said on July 19.

When Port Clements councillor Kazamir Falconbridge set out to run an errand on June 27, he wasn’t prepared for an eagle rescue.

Driving along Highway 16, just north of Port Clements, he approached a car and two women on the side of the road and could see a juvenile eagle in distress in the ditch so he pulled over.

No one had a box or a blanket in their car, but Falconbridge knew he had to act fast. Once the bird made it into the forest he knew it would be very difficult to get it out because its wings would get caught in the trees.

Falconbridge guessed that this particular bird had a wing span of six feet.

Two more cars pulled over. Luckily, a member of the Search and Rescue team was in one and he started looking for a blanket and tote to put the eagle in.

In the other car were a couple from Masset. The man offered Falconbridge his new jacket as a make-do blanket.

Falconbridge swiftly grabbed the bird’s feet with the man’s jacket and hooked his right thumb under the eagle’s left shoulder. The man from Masset helped him support the injured wing close to the eagle’s body.

“So now I had the eagle in my bare hands and walked out of the ditch with it,” Falconbridge said.

He lowered it into the blanket-lined tote prepared by the search and rescue member.

“Got to go really slow with birds. Really slow and gentle and talk to them and look into their eyes, they’re really intelligent creatures,” Falconbridge said.

“Because I have chickens and ducks and geese, and turkeys now too, so I know about looking after birds and the eagle got into the blanket and I wrapped up the eagle. I’ve also had two children and I know how to swaddle a baby so that they can’t get out of the cloth. So I did exactly that, I swaddled that eagle up in that blanket really nice and tight and only its head was sticking out.”

There isn’t a place on the island that can care for hurt eagles so Riddall coordinates to fly them to the Orphaned Wildlife Rehabilitation Society (OWL) in Delta B.C.

Riddall also does a lot of rescues herself in the northern communities, while another volunteer covers the southern region of Haida Gwaii.

“I wish we had a place up here where we could deal (with injured eagles) because just the cost and the stress on the animal, keeping it for two days because there’s no plane and then it’s been suffering for those two extra days,” Riddall said.

Thirteen eagles have been rescued on the archipelago since December 28, 2021, and that doesn’t include those that didn’t survive.

After doing this for almost a decade, Riddall said these numbers are not unusual, and it’s really unfortunate because many of the injuries are preventable.

The most common reason eagles are sent to OWL is lead poisoning, she said. Lead the size of a piece of sand can make an eagle sick, and when hunters leave animal carcass remains in the forest or along the road, they are often contaminated by lead bullets.

Riddall said there is a solution: stop using lead ammunition.

Electrocution and vehicle strikes are the second most common cause of eagle injuries, she said. The large birds are not very agile and have a difficult time gaining altitude quickly. When a car approaches after they’ve been feasting on a dead animal near the road, they try to fly away but often get hit by the vehicle or caught in a hydro line and electrocuted.

Riddall encourages people to drag road kill further into the forest but knows that not everyone is capable of doing this. Someone without the physical strength to pick up a dead animal doesn’t have anyone to call for help.

There are also specialized non-electrocution power lines that would benefit Haida Gwaii, Riddall said. While it’s more expensive, in areas where there is a high population of birds being electrocuted it would be worth the extra cost.

The eagle Falconbridge rescued did not survive. Riddall estimated that less than one in ten injured eagles from Haida Gwaii are rehabilitated and released after being sent to OWL.

“We need to take bigger steps in preventative measures, because all of this is preventable,” Riddall stressed.

She would like to see more garbage bins put out for hunters and fisherman to put animal remains in, as well as informational signs explaining why it is so important to properly dispose of leftover carcasses.

Kaitlyn Bailey, Local Journalism Initiative Reporter, Prince Rupert Northern View




Thursday, May 18, 2006

Criminal Capitalism: Xstrata

Here is another criminal capitalist enterprize that makes Enron look legitimate, and reminds me of the Mutual Fund Criminals around Bernie Cornfeld.

The primitive accumulation of capital has always been a criminal enterprize.

And of course these criminal capitalists are always opposed to unions. Just like regular capitalists.

The irony is that Xstrata is in a bidding war over Falconbridge, which includes Inco and Teck Cominco, all four are vying to create monopoly in the resource industry that is heating up.
Timidity keeps corporate Canada off world stage


Oh yes thats the other problem with capitalism its inherent need to create monopolies and oligopolies.

Dark talk dogs CEO of Xstrata

Still, when Xstrata starts making big deals abroad, people start mentioning words far removed from mining, or from anything having to do with Mick Davis: Saddam Hussein, CIA, international fugitives, presidential pardons.

This has nothing to do with Xstrata, a public company traded on the London Stock Exchange, and everything to do with the private company that created Xstrata in 1990 and that is still its largest shareholder. Glencore International AG, one of the most secretive and most profitable private companies in the world, is both the source of Mr. Davis's success and the albatross around his neck.

Glencore was created by Marc Rich, the billionaire commodities trader who became the world's most-wanted white-collar fugitive in the 1990s, when he was sought by U.S. authorities for tax evasion and tax fraud, and for breaking UN embargoes by trading with countries such as Iran and apartheid-era South Africa. In 2000, in the final weeks of his presidency, Bill Clinton granted Mr. Rich, a Democratic Party donor, a controversial pardon.

Both Xstrata and Glencore are headquartered in Zug, Switzerland, a tiny canton that claims to have the lowest corporate tax rates in Europe. It also has extremely lax disclosure rules, and can serve as a haven for white-collar fugitives — as it did throughout the 1990s, when Mr. Rich made it his refuge.

“Glencore was created as a shadow company to divert attention from Marc Rich & Co. in New York when the feds were going after Rich for fraud,” said Craig Copetas, the Bloomberg News reporter whose book Metal Men investigated the history of Mr. Rich and Glencore. “They were trying to hide all the bad stuff from Rich, but the judge didn't have anything to do with it.”

A few years earlier, in 1990, Mr. Rich had created Xstrata as a mineral exploitation subsidiary of his metal trading firm. They are separate now, although Glencore controls 38 per cent of Xstrata's shares either directly or through its wholly owned subsidiaries. The two firms share a chairman, Willy Strothotte, a long-time colleague of Mr. Rich's.

Mr. Davis and other Xstrata executives argue that the taint of Mr. Rich is unfair. According to U.S. media reports, Mr. Rich sold his major stake in Glencore for $500-million more than a decade ago, and while it is widely believed among metal traders that Mr. Rich still has his hands in the operation, there has never been any evidence of such control.

Glencore continues to be a controversial company: In 2004, the CIA charged that the company had received millions from the Iraqi oil-for-food program after paying millions in kickbacks to Saddam Hussein's regime (Glencore denied these charges)

Who is Xstrata, anyway?

Is bid for Falconbridge a tad Rich?

Swiss offer puts PM to test

Xstrata's Falconbridge Bid Opposed by Canada Lawmakers, Unions




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Friday, February 09, 2007

Harpers Buzz Off


So as Chrysler Canada announces two thousand job cuts, the PM refuses to meet or take phone calls from Buzz Hargrove, President of the CAW.


Hargrove expressed disappointment that Prime Minister Stephen Harper didn't find some time to meet with him Thursday, especially given the dire circumstances in the auto sector. The prime minister's officials said they had no record of a request from Hargrove to meet.


Gee thats strange since Buzz called, left messages, was in Ottawa, and the NDP and Liberals knew he wanted to meet with Harper. Both parties raised Harpers refusal to meet with Buzz during question period.


Automobile Industry + -

Mr. Speaker, with massive layoffs pending at Chrysler, why has the government cancelled labour market partnership agreements that could have helped many of the 2,000 Chrysler workers and why is this Prime Minister, the first in 40 years, refusing to meet with the head of the CAW?

Mr. Speaker, the member should know that the government announced its intentions to strengthen labour market initiatives in “Advantage Canada”. We are in constant contact with our provincial partners on all of these issues.

We will certainly put in place all the measures necessary to ensure that we have the strongest possible economy, something that is already happening under the leadership of the Prime Minister.

Mr. Speaker, we have a minister who is laissez-faire and a Prime Minister who does not care.

The Liberal government partnered with the auto industry to create thousands of new jobs. Canada's neo-Conservative government has done almost nothing and we are losing thousands of auto workers jobs.

Will the Prime Minister meet with the head of the CAW, take action, and reintroduce the previous government's auto strategy that was working and creating jobs here in Canada?

[Translation]

Mr. Speaker, I would remind my hon. colleague that we tabled the Advantage Canada plan, a plan that will enable the automobile industry and all other industries to enjoy competitive tax conditions.

We will continue to lower taxes, to limit paperwork and regulations interfering with the productivity of Canadian business in the automobile sector, and we are proud of what we are doing.


Harper is the first PM not to meet with Buzz. But maybe he didn't need to meet with Buzz.

Prime Minister Stephen Harper says the looming job losses at Chrysler have nothing to do with federal government policy.


Except that Canada is negotiating a bilateral trade deal with Korea, home of Hyundai.

And considering that Buzz and Stephen agree on the need to go slow on emission regulations you would think Harper would take a call from Hargrove.

Buzz Hargrove, head of the Canadian Auto Workers' union, told the committee that too-tough efficiency standards could result in plant closures.


No sooner had Buzz said that then this happened.

Buzz Hargrove fears major job cuts at Chrysler
OTTAWA – As many as 2000 of Canada's workers with DaimlerChrysler could lose their jobs, Canadian Auto Workers leader Buzz Hargrove suggested Thursday. ...


And suddenly Buzz is doing as I have said Canada's labour movement would have to do, accept the global market and demand Fair Trade agreements.


Hargrove calls for 'fair trade' deal with Asia to curb auto job losses


Automobile Industry + -

next intervention previous intervention [Table of Contents]

Mr. Speaker, today's news that Chrysler is going to eliminate 2,000 jobs in Canada makes it very clear that we have to get down to helping out our auto industry. Consumers want fuel efficient cars, but the government stands by and does absolutely nothing about it.

That is why the NDP put forward a green car strategy in 2003, supported by Greenpeace and the CAW. Too bad the Liberals would not adopt it because it would have transformed our industry and we would have been in the forefront of protecting jobs and creating new jobs as well.

Does the Prime Minister not understand that when it comes to building green cars, either we get it done or China, Japan and Korea will do it?

Mr. Speaker, while we are obviously concerned by the announcements that we expect from Chrysler, this is a global company that is making global decisions. These are not related to policies in our country, as the member well knows. At the same time, we have seen a growth in other parts of the auto industry.

I appreciate some of the suggestions the leader of the NDP has made. They are much more positive than the motion tabled last week by the Leader of the Opposition, which would effectively propose that we cut emissions from the auto sector, from all sectors, by one-third in the next four and a half years. I wonder if he has any idea how that would devastate the Canadian auto sector.

Mr. Speaker, the Prime Minister is wrong about the impact of his own actions. The workers in the auto sector are worried and rightly so. Their jobs are on the line. As people look for more efficient cars, they will not find them manufactured here because there has been no action.

The government says that it is a global marketplace, that the market will take care of it, but the market is not fair. Those other countries can sell their cars in Canada without limit, but we cannot sell good Canadian cars, built right here, to countries like China, Korea and Japan.

Is that why the Prime Minister thinks it is a good idea to sign a free trade deal, signing away our auto industry to Korea?

Mr. Speaker, the government has been pursuing negotiations with South Korea and with others for the express purpose of opening up Asian markets to Canadian products. I am glad to see that Buzz Hargrove seems to have completely reversed himself and now suggests that is exactly what we should be doing, trying to open Asian markets. The government will work hard with the industry to do that.

The government has ongoing consultations with the energy sector. There are some happening this very day. We think it is important to consult with industry before telling it to simply slash one-third of its production, as the opposition would.
Ouch! Of course that is not what Buzz is saying, but that's the spin the Free Traders will make over Fair Trade. Until the labour movement and its political allies spell out the difference.

What we need is a national industrial ecology strategy, not just tax cuts and credits for the industry. And that does not mean that industries in Canada have to be Canadian owned either. Sovereignty is not determined by corporate ownership but by the working class, having autonomous Canadian unions, and eventually in joint ownership of industry in Canada.

As recent negotiations with CAW and Falconbridge's new owners Xstrata PLC have shown.


Each of the past three bargaining rounds between the Canadian Auto Workers and previous owner Falconbridge Ltd. were marred by bitter confrontations and each ended in dispute. Workers were off the job in 1997, 2000 and in 2004.

Things were so bad, that after members voted to end a particularly acrimonious seven-month strike in February, 2001, the CAW was still hurling public insults at Falconbridge's front office.

"The previous owners seemed willing to spend a million dollars to save a dime. These people, the new owners, seem to recognize the value of a dime. That's different. It's going to require us to adjust our style as well. So we've made a commitment to try to work on the relationship over the life of the agreement and that was part of our settlement. How do we communicate better and how do we get things done in a positive way?" Mr. Mitic said.


See

Hargrove

CAW




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Thursday, June 08, 2023

CBLT acquires historic Falcon gold mine

CBLT Inc. (TSXV: CBLT) purchased the former Falcon gold mine adjacent to its Copper Prince property along the Garson fault in Ontario
 June 5, 2023



Site of the Falcon gold mine between patented and unpatented Copper Prince claims. CBLT image

CBLT Inc. (TSXV: CBLT) purchased the former Falcon gold mine adjacent to its Copper Prince property along the Garson fault in Ontario’s Sudbury Basin. The Falcon property is sandwiched between CBLT’s three patented and its other unpatented Copper Prince claims.

The Falcon property has been explored intermittently since 1900. A 2005 report filed by Millstream Mines said over 850 metres of diamond drilling had been conducted there over time. CBTL said some of the historical data appears to be reliable, but there are gaps as some exploration was unrecorded. The company has been unable to find any production data associated with the property.

The Bailey report, compiled by Gordon Baily for Falconbridge and published in 1996, is perhaps the most reliable information. The report highlighted two pyrite-rich surface samples (50.47 and 53.21 g/t gold) and three pyrite-rich dump samples (33.60, 3833, and 40.46 g/t gold). The work and the report are not compliant with Ni 43-101.

Subject to the qualifications set out above, Bailey included a resource estimate at Falcon. In 1988, Falconbridge completed a 24-hole, 4,560-metre drill program which increased the mineral inventory of the Falcon deposit to 53,975 tonnes grading 7.75 g/t gold in a pyritiferous zone traced to a vertical depth of 180 metres with an average dimension of 3.35 by 30.5 metres.

CBLT intends to carry out a program of data aggregation, mapping, and sampling at Falcon this summer.

Although under construction at press time, the CBLT website is at www.CBLTinc.com.

Friday, January 26, 2007

Contientalism


Contientalism here we come. This has always been the main dispute between the Nationalist Left of the ruling class against the Contientalist Right of the ruling class.

It goes back to the sixties split in the Liberal Party over this issue, which resulted in the Anti-Contientalist Liberal Nationalist left including Walter Gordon, Mel Hurtig and his protege Maude Barlow, and Paul Hellyer and his Canadian Action Party,

In the early seventies the Nationalist Left movement in the NDP was made up of Mel Watkins, Canadian Dimension's Cy Gonick and the Waffle.

Contientalism, or deep integration with the United States, as it is now called, is the current Canadian business agenda of some sections of the Canadian ruling class.

It includes the North American Security Agreement, the TILMA (
Trade, Investment and Labour Mobility Agreement ) which B.C. and Alberta hobbled together, and the Canadian Council of Chief Executives promotion of economic integration with the U.S. The three amigos; Bush, Calderon and Harper, will be meeting to discuss all these issues in Kananaskis this June.

Which is why China becomes an important trade and economic challenge to this ideology, and which is why the Canadian ruling class is divided over the issue of liberalizing trade with China. One could call it a clash between the Internationalists and the Contientalists in the ruling class.

China is to diversify the use of its swelling foreign exchange reserves, a policy change that is likely to mean a rise in investment in overseas securities and more purchasing of foreign technology and raw materials.

Mr Bloomberg and Mr Schumer commissioned the study amid increasing concern over New York's declining share of global capital markets activity. Concern has focused on the rise in the number of foreign companies choosing to list their shares in London and Hong Kong rather than in New York.


When dealing with hegemons it is best to keep them off balance by balancing out your relations with them. One way would be for NDP in its foreign policy to seriously consider aligning Canada with the Non-Aligined Movement.

If the Left in Canada is going to move beyond mere knee jerk nationalism, in the era of globalization, then it too needs to embrace internationalism. Sovereignty is a myth. Canadian capitalism is now global, it invests abroad, and in turn foreign investors have bought up Canadian companies, as the internecine competition between Falconbridge and Inco showed.

The Left,the labour movement and environmentalists have used NAFTA for the past decade to get better labour and environmental protections in the side deals that NAFTA allows. The fact is that NAFTA and all other trade agreements are in permanently in place and the labour movement and the Left needs to accept this fact and in turn mobilize a counter globalization strategy around outreach to workers and social movements in those countries which continue to be outsourced to as cheap labour.

Typical knee jerk nationalism meant that the Labour movement protested the Chinese proposed purchase of Noranda. Instead we had Mittal from India and Brazilian miner CVRD purchase Falconbridge and Inco instead. The labour movement complained that China had poor labour policies, which is true, however so does Wal-Mart.

And while knee jerk American nationalism confronted Mittal when they moved into the U.S. the company itself was leader in creating jobs, being more green than its competitors and offering profit sharing.

There is also a divide between the two nationalisms in Canada, that of Quebec and the ROC. Quebec labour and its social democratic parties accept NAFTA and Free Trade, in fact they promote it, of course demading state funding for its less than competitive industries like Bombardier in order to compete in the international marketplace.

And like Quebec, the Ontario government is funding the Auto sector, but not doing it based on a Made In Canada Autoplan, including a green plan, instead it is funding the Big 3, to keep jobs here. The reality is that the industry itself is self sufficient in Canada and growing. But the sector that is growing is the Asian carmakers from Korea and Japan. Like China, these countries offer an alternative alliance against the deep integration with the disintigrating American economy.

What we need is not just further tax breaks, credits, or loans, but guaranteed worker ownership with environmentalists and consumer representatives on the corporate boards.

A whole new way of thinking is needed to address the fact that Canada is player in the era of globalization. And we ourselves as an Imperialist nation, a national capital competing with other national capitals, does not have a stellar record when it comes to workers, citizens and environmental rights when we dominate another country like Haiti.

The Canadian Ruling Class including the ruling class in Quebec is fractured and divided over its alliances with American capitalism and other competing capitalist nations. If the Left is to address this it needs to be truly internationalist, and needs to offer a worker community based socialist alternative that can work within existing capitalism, to reform and amerliorate its excesses while offering a hope and a vision for the future. Which is what Left Nationalism has not and can never do.


See:

Trilateral Commission

Deep Integration

Origins of the Captialist State In Canada

Time For A Canadian Steel Workers Union




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Thursday, June 01, 2006

Share The Wealth


Inco workers win takeover protection, raises

With the mere threat of a strike. In a boom economy, when nickel prices would go through the roof if they struck. While the big Canadian mininge Corporations are in the midst of an orgy of mergers and acquisitions, that is market monopoly, the mineworkers got job protection. Way to go.

The agreement "reflects Inco's extremely strong financial position and recognizes our members' contribution to that success, as well as protecting Inco employees through any merger or takeover process," Fraser said in a release.


But no matter how well paid or what signing bonuses they get they still won't be making as much as this guy.


Inco Ltd. Scott Hand, CEO
$10,715,736
Salary:$1,240,969 Bonus:$2,416,888 Subtotal:$3,657,857 12% chg
Other:$161,791 Share Units:$2,436,903 Option Gains:$4,459,173
TOTAL:$10,715,736 New option grant: 54,000 ($800,789)


Even though it is the mineworkers who create the weath. Which is proven by the fact that had they gone on strike nickel would have become more valuable as well as making the companies involved more valuable. Maye the Steelworkers settled to short, and should have demanded shares and a seat on the board.

A looming strike at Inco Ltd.'s key Sudbury operations could send nickel prices higher and potentially make Inco's offer for Falconbridge Ltd. more attractive. That's because a strike at Inco's Sudbury operations, which account for roughly 9 per cent of global nickel output, tends to mean higher nickel prices as traders bet on potential shortages.
Also See:

Criminal Capitalism: Xstrata


Monopoly


Inco

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Monday, May 29, 2006

Inco Strike


The reason for the pending Inco Strike is simple, share the wealth.

Canadian miners may advance Monday as nickel prices are expected to hit a record high.


Union says Inco offer 'an insult'

The possible strike comes as supplies of nickel, which is used in the production of stainless steel, have become increasingly tight.

Inventories of nickel on the London Metal Exchange hit their lowest level since October 2005 on Friday, falling 246 tonnes to 18,432 tonnes.

The price of nickel shot up on Friday by $900, hitting $22,900 a tonne, after union members urged workers to strike.

The increase represented a 4% increase on Thursday's close.

Tight supplies come amid moves to consolidate the industry.

Inco has been in the running to acquire Canada's Falconbridge, also a nickel producer, but Swiss mining group Xstrata recently entered the race, offering a higher bid.

Meanwhile Inco is the target of a hostile takeover from Teck Cominco, the world's largest zinc producer.

Also See:

Criminal Capitalism: Xstrata


Monopoly

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Sunday, September 12, 2021

AUSSIE MINERS FIGHT TO OWN RING OF FIRE
What's to become of Noront's ferrochrome plant? 

Wait for the bidding war to settle, says CEO

Chromite production plans, smelter plan in limbo until new ownership takes control of Noront's Ring of Fire metal assets

IMPERIALISM THE HIGHEST STATE OF CAPITALI$M

By: Ian Ross
Site rendering of Noront Resources' proposed ferrochrome processing 
plant in Sault Ste. Marie


Ask Alan Coutts what's to become of a proposed ferrochrome processing plant for Sault Ste. Marie and the president of Noront Resources gives a straightaway answer.

"That will ultimately be a question that will be answered by the new owners."

Noront selected Sault Ste. Marie in 2019 is its preferred location for a high-tech smelting operation, settling on a brownfield site at Algoma Steel.

But in the last few months, the Toronto mine developer and holder of the most prime mineral property in the James Bay's Ring of Fire mineral belt has become a takeover target by BHP and Wyloo Metals, the former being arguably the world's biggest mining company.

The two Australian rivals are in the early stages of a bidding war for control of Noront and its Eagle's Nest nickel-copper deposit, 500 kilometres northeast of Thunder Bay. It has an 11-year mine life with the real likelihood to extend it to 20 years.

Both companies are looking to preemptively stake their global turf and gain exposure to nickel, which is used in manufacturing lithium-ion batteries for the coming electric vehicle revolution.

Noront's 156,000-hectare land package hosts eight deposits and hundreds of documented occurrences of nickel, copper zinc, platinum, palladium, gold, titanium, vanadium, diamonds and cobalt. Many of these metals are key ingredients needed for the electric vehicle supply chain, battery storage technology, renewable energy, digital technologies, and various applications in health care, aerospace and defence.

But it was the purity and thickness of high-grade chromite, the dark grey metal discovered practically outcropping at surface in 2007, that first drew widespread attention to the region.

Noront's mining batting order has always been to lead off with Eagle's Nest, starting production in mid-2026, before digging into Blackbird, the first of four chromite deposits, and commission that project by 2028. The Sault plant would be built by then and ready to take the chromite feed.

Those timelines remain in limbo with a bidding war underway for Noront.

Noront's logistics plan involves trucking nickel concentrate down a planned 300-kilometre-long road to Nakina in northwestern Ontario and sent by rail to Sudbury for processing.

The chromite would follow the same path to a ferrochrome plant in the Sault.

About 1,000 to 1,500 construction and supply-related jobs would be created in the city, with 500 permanent plant jobs to follow for a facility that would expand as more chromite deposits come into production based on market demand.

The semi-finished ferrochrome material would be barged down the Great Lakes and Mississippi River to stainless steel manufacturers in the U.S.

Coutts mentioned their concept has been well-received by potential American customers. Most of the chrome material used by the U.S. stainless steel industry is imported from South Africa and Kazakhstan.

"We think it's a very good path forward," said Coutts.

"Ultimately, if someone buys the company they can review that and make their own decisions."

Wyloo chief executive Luca Giacovazzi told Northern Ontario Business in early June that chromite was viewed by the company as more of a "longer term opportunity."

"The focus is on nickel."

Though respectful of the work Noront had put in, Giacovazzi couldn't commit to a Sault-based processing plant. Wyloo would need to do its own technical studies to determine the best site, he said.

Wyloo is a subsidiary company of Tattarang, one of Australia's largest private investment groups. Tattarang is headed by billionaire mining magnate Andrew Forrest, who turned Fortescue Metals into the world's fourth largest iron ore producers in Australia's Pilbara region.

BHP Group is the world's largest iron ore miner with operations in Chile, Peru and western Australia. In 2021, the Melbourne-headquartered cleared US$11.3 billion in profit. The company recently established a copper and nickel exploration office in Toronto to be close to Ontario's battery metals scene.

For whichever mining company acquires Noront, don't expect the chromite to be placed on the backburner.

"Wyloo and BHP are excellent world-class companies on bulk materials like iron ore," said Coutts. "Chromite's like that.



"These guys have a ton of experience developing assets like the chrome and the associated infrastructure, and I don't think they'd have any trouble getting their heads around the opportunity.

"It might not be what attracts them in the first place, but I certainly think they'd pay a lot of attention to the (chromite) assets if they became the owners."

In elected to pursue a ferrochrome plant, Noront really stepped beyond the traditional resource development role of a junior mining company by wanting to make the rare leap to becoming a major mining player.

Coutts, a former Falconbridge executive and trained geologist, spoke confidently in past interviews that it was Noront's ambition to become a mine builder. The Ring of Fire, he said, would be their version of the mineral-rich Sudbury basin, with more than 100 years of ore production.

Noront brought Coutts aboard in 2013. He had been involved in exploration, development and operation of mines in Canada and Australia.

His chief development officer, Steve Flewelling, was hired in 2015. He had worked for Falconbridge's successor company, Xstrata Nickel/Glencore, on mining and smelting projects around the world.

Coutts said the processing space is an area they are very comfortable operating in.

"We like the fact that it was a Canadian company developing the assets," said Coutts, who was at the helm when Cliffs Natural Resources exited the Ring of Fire in 2015.

It provided an opportunity for Noront to acquire their claims and consolidate more ground after other exploration companies followed suit, allowing them to become the leading mine developer in the region, albeit with limited financial resources.

Though labelled a junior miner, Coutts said their approach was that it made the most sense, economically, not only to build the mines and produce the ore, but in the case of chromite, it was within their scope to produce an intermediate product to get a value-added lift.

"Certainly, Steve had a ton of experience with the smelting process both in Sudbury and, internationally in New Caledonia."

Coutts said they felt quite comfortable working with Hatch Engineering on the furnace design and the commissioning of a ferrochrome plant down the road.

Whether Coutts and Flewelling stick around under new ownership to see the fruits of their labour come into production remains to be seen.

In a recent interview, Wyloo's Giacovazzi was non-committal in retaining Noront's current senior management, if their bid was accepted by Noront shareholders, saying only the Ring of Fire operating team would be a mixture of new and old faces.

"That's how things work," replied Coutts. "Perhaps there's still a role for us going forward.

"But we would still recommend that path and the approach that we've taken."


It is almost one hundred years since the publication of V. I. Lenin’s ImperialismThe Highest Stage of Capitalism and Nikolai Bukharins Imperialism and World Economy,2 written in the midst of the carnage of World War I. Imperialism was written in the first half of 1916 and published in mid-1917; Imperialism and World Economy was not published until several months later, but it was substantially written in 1915 and very likely influenced Lenin’s own thinking, since he read the book in manuscript and wrote an introduction for it in December 1915 supporting its main analysis.
isreview.org/issue/100/lenin-and-bukharin-imperialism/index.html






Tuesday, February 28, 2023

 

The race to mine mining waste

Could metal-eating bacteria that break down mining waste be key to sustainable battery minerals?

battery minerals sustainable mining Corporate Knights
Photo by Photomaru

For generations, the topography of Sudbury, Ontario, has been brutally defined by towering slag heaps and vast orange-hued tailings ponds – the physical legacy of almost 140 years of nickel mining and smelting by resource giants like Inco and Falconbridge. By 1910, in fact, Sudbury’s mines were supplying 80% of the world’s nickel. But by the late 20th century, the industrial fallout – corrosive air pollution, acid rain and a legacy of seemingly intractable contamination – revealed the extraordinary environmental cost of those resource riches.

Fast forward to April 2022, when BacTech, a publicly traded Toronto remediation firm, launched plans to use naturally occurring bacteria and a “bioleaching” process to break down some of that mining waste and recover what it claims are billions of dollars in nickel, cobalt, green iron and sulphur that have long been buried in those tailings. Nickel and cobalt are now highly sought-after minerals in the accelerating race to build electric vehicle batteries, and this venture seems to offer a double climate bonus: remediation of a highly degraded landscape, as well as raw materials for transportation technology that weans society of its addiction to fossil fuels.

“The timing is right to mature these technologies off the bench,” says Laurentian University microbiologist Nadia Mykytczuk, interim president and CEO of MIRARCO (Laurentian’s Mining Innovation, Rehabilitation and Applied Research Corporation) and an advisor to BacTech. “The rapid electrification and move to battery electric vehicles is going to drive a lot of innovations, and bioleaching is one of those that will move forward quite quickly now.” A feasibility study has been completed, and a pilot facility, the Centre for Mine Waste Biotechnology, is being built on the Laurentian campus.

Mykytczuk points out that the notion of using microbes to essentially poop out recoverable minerals from tailings waste isn’t new, and has been applied for decades in settings like Chile’s copper mines. Over time, however, the processes have become more sophisticated; the demand for better forms of remediation, more intense. Acid drainage, a corrosive by-product that’s released from tailings ponds, continues to contaminate downstream watersheds. Tailings dam disasters in the past decade or so in countries such as Hungary, South Africa and Brazil have not only shone a harsh light on the grave human and ecological risks associated with accumulated mining waste, but also sparked activist investor groups, like the Church of England, to push for safer practices.

At the same time, the global growth of renewable energy and the push to electrify has revealed the extent to which fossil fuel extraction will be replaced in the coming decades by the dramatic growth in the mining of ores like nickel, copper or rare earth elements used in wind turbines and other clean technologies. Global demand for copper is projected to double by 2035, even as existing copper mines become less and less productive. Earlier this year, the International Energy Agency estimated that the global mining sector needs to build 60 nickel mines, 50 lithium mines and 17 cobalt mines by 2030 to meet global emissions goals.

But if all that new mining activity generates even more emissions, contaminates watersheds and produces mountains of toxic waste, we’ll have merely replaced one form of resource-driven environmental destruction with another. Case in point: the mining of lithium, a critical ingredient in EV batteries, consumes huge quantities of water, pollutes groundwater and poses a danger to flamingo habitats.

Conventional mining is not only energy intensive and ecologically scarring; it is also extraordinarily inefficient. By weight and volume, valuable ores like nickel, gold or cobalt account for a tiny fraction – sometimes even less than 1% – of all the material removed from a mine. (A sustainable-mining scholar in Chile has trenchantly described these epic inefficiencies as akin to using five kilograms of beef from a 500-kilo cow and discarding the rest.) What’s more, the structure and financing of the industry is such that individual mining companies traditionally produce only one or two substances; everything else is seen as waste.

From an emissions perspective, one of the core arguments in favour of biomining and remining (another approach to recovering marketable minerals from tailings) is that huge amounts of energy have already been consumed to extract, crush, separate and process all the material that comes out of a mine. “The total energy required for bioleaching is significantly lower by several orders of magnitude than if you were to build a high-energy smelter,” says Mykytczuk.

To date, biomining remains a tiny fragment of the industry, but the potential has garnered attention from researchers, cleantech start-ups and established mining giants. For example, Teck Resources and Rio Tinto, both global firms, have teamed up with researchers at the University of British Columbia and other organizations to launch a project called M-MAP, or the Mining Microbiome Analytics Platform. The organization is building a genome library of microbes found in tailings ponds around the world, which will allow labs to sequence genetic material to engineer bacteria that is essentially tailor-made to digest minerals in particular tailings ponds.

As a Teck spokesperson explains, “M-MAP is the first integrated online platform which aims to extract the DNA from more than 15,000 mining site samples over the next two years to identify microbes that can be used to replace chemical and other legacy extraction methods for minerals and metals, and to perform safer, more effective remediation of legacy and operational mine sites.”
Bryne Gramlich, vice-president of business development at Allonnia, a Boston bio-engineering firm that is part of the M-MAP consortia, adds that while the project is in its infancy, the mining sector is “aggressively looking at how to accelerate the use of biology” in its reclamation efforts.

The rapid electrification and move to battery electric vehicles is going to drive a lot of innovations, and bioleaching is one of those that will move forward quite quickly now.

-Nadia Mykytczuk, interim president and CEO of MIRARCO

The critical question, of course, is whether the introduction of specially engineered microbes in tailings ponds, such as those enabled by M-MAP’s genome library, could further exacerbate environmental damage downstream of such facilities. “In order to get any type of technology like this approved and indeed used,” says Anita Parbhakar-Fox, an associate professor at Australia’s University of Queensland who runs a mine-waste-transformation research group, “a rigorous environmental impact assessment, including demonstration testing, risk evaluation and impact modelling, would be undertaken to ensure a decision on whether to use the technology was made based on a full evaluation of the socio-environmental risks.”

But Radhakrishnan Mahadevan, a professor of chemical engineering at the University of Toronto and a Canada Research Chair specializing in bio-engineering applications, says there are existing techniques for ensuring that such microbes don’t have what he describes as “exogenous impacts,” such as increasing the risk of antibiotic resistance. “You can engineer the environment in such a way that the microbes do what you want them to do.”

The potential for using new technologies to upcycle mining waste has attracted other remining start-ups. Phoenix Tailings, a four-year-old Boston firm with venture capital backing, has developed a set of chemical processes to extract value from tailings, including rare earth elements, cobalt and nickel. According to co-founder Anthony Balladon, the firm’s business strategy with mine waste sites is to recover two types of materials: large volumes of inert bulk substances that can be used like aggregates in concrete production, and smaller volumes of valuable ores. To make the math work, he says, “we need both components.”

He points out that some waste sites are quite old and date to a time when there was little market for the metals that are now driving the electrification economy. “You often find that you have a tailings pile or tailings pond somewhere in Canada, Australia or the U.S. that has a higher grade of cobalt or copper or rare earths than what is currently considered the kind of grade for operating a new mine,” he says. “You have to find the right sites.”

Phoenix, Balladon notes, has tapped into an eager source of capital looking for sustainable solutions to mining waste and a way of averting tailings dam disasters. But global investor appetite for EV-related metals is voracious and also a major driver of these technologies. “It’s a very exciting time,” he says, noting that governments in Canada, the U.S. and Australia are all looking to invest in these approaches.

You often find that you have a tailings pile or tailings pond somewhere in Canada, Australia or the U.S. that has a higher grade of cobalt or copper or rare earths than what is currently considered the kind of grade for operating a new mine.

-Anthony Balladon, co-founder, Phoenix Tailings

Parbhakar-Fox agrees. “In Australia in the past three to five years, we have seen a great deal of state and federal government investment into the development of mineral processing methodologies, particularly to recover critical metals in order to grow this sector in Australia,” she says. “The University of Queensland is involved in a project to bioleach and recover [rare earth elements] from Mary Kathleen mine tailings, potentially containing AU$4 billion worth, as well as cobalt from the Old Tailings Dam and Savage River mine tailings [in western Tasmania].” BacTech sees even larger economic windfall from recovering copper and cobalt from the tailings in Sudbury – it estimates that there’s $27 billion in nickel alone sitting in those ponds.

Researchers say these processes also promise a climate benefit beyond energy savings. “The bioleaching process itself is carbon capturing,” says Mykytczuk. “We are capturing atmospheric CO2, and the bacteria fix that to their biomass [so] you can actually have an offset from your carbon cost in the bioleaching process. It’s a benefit on the carbon side of things.”

There is, of course, plenty of reason to be skeptical, not just about the science, which is nascent and not yet deployed at commercial scale, but also about the promise of alchemizing all that slag into valuable ore and billions of dollars in profits.

Yet advocates point out that emerging research and the climate imperative should be encouraging us to think differently about the largely unseen by-products of an extractive industry that hasn’t changed its ways in generations.

“Mining tailings and other mine wastes are multifaceted when it comes to the potential positive outcomes,” says Parbhakar-Fox. “Provided the mine waste has been well characterized and the right technologies are used to extract and recover the most value, there are positive outcomes for companies, the environment, the future, and for our governments to grow circular economy businesses. These are exciting times if we dare to dream and think outside the box.”

Corporate Knights publishes the world's largest circulation magazine on clean capitalism.

Monday, February 26, 2024

WORKERS CAPITAL
Feds must force pensions to fund Canadian mining, Lassonde, Giustra say
 
Colin McClelland | February 25, 2024 | 

Highland Valley Copper Operations in British Columbia sports the flag.
 (Image courtesy of Teck Resources.)

Ottawa has to pressure pension funds to invest billions in Canadian mining, a radical change from their almost non-existent stakes, if the industry is ever going to produce enough metals to fight climate change, veteran entrepreneurs Pierre Lassonde and Frank Giustra say.


Canada’s eight largest pension funds hold some C$2.1 trillion in assets but only a quarter was even invested in the country last year, according to research by Montreal-based fund manager Letko Brosseau. The so-called Maple Eight devoted just 3% to domestic equities, the lowest of a group of six countries including the United States, the United Kingdom and Japan, data show.

“They’ve taken the vast majority of this money – 75% of it – and invested it outside Canada to create jobs outside of Canada to the detriment of Canadians,” Lassonde, a founder of Franco-Nevada (TSX: FNV; NYSE: FNV) and a former president of Newmont (NYSE: NEM; TSX: NGT), said in a phone interview this month. “Essentially, the mining industry has been ignored.”

Pension funds are not investing in large Canadian mining companies, which may in turn invest in juniors, in part because few domestic options remain. Switzerland-based Glencore’s (LSE: GLEN) acquisition of most of Teck Resources’ (TSX: TECK.A/TECK.B; NYSE: TECK) coking coal assets in November for about C$9 billion is the latest large deal scooping up Canadian assets.

Xstrata, now part of Glencore, bought nickel giant Falconbridge for C$39 billion in 2006, the same year Brazil’s Vale (NYSE: VALE) purchased the country’s other main nickel producer, Inco, for C$19 billion. Australia’s Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) followed a year later in acquiring aluminum producer Alcan for C$38 billion. Lassonde and Giustra say pension fund investing might have helped them stay.

“We’re talking about very large companies, mining giants that we lost to foreigners,” said Giustra, who founded Lions Gate Entertainment (Fahrenheit 9/11, The Hunger Games) and helped start Wheaton Precious Metals (TSX: WPM, NYSE: WPM; LSE: WPM) and Endeavour Mining (TSX: EDV; LSE: EDV).

“These aren’t risky companies. This was the backbone of our mining industry in this country.”

Rules eroded

Indeed, Canadian pensions were required to invest 90% of their assets domestically in 1990, but federal governments gradually reduced the limit before removing it entirely in 2005. Total domestic exposure as a percentage of assets ranges from 55% held by the Healthcare of Ontario Pension Plan to 13% run by Public Sector Pension Investments (PSP). The average of other pension funds around the world is 52%, according to Letko Brosseau.

Pensions are the largest repository of wealth in many countries and globally hold nearly $50 trillion. Reaching net zero emissions by 2050 will require annual clean energy investment worldwide to more than triple by 2030 to around $4 trillion, according to the International Energy Agency. Just mining enough battery metals over the next three years will cost as much as $450 billion, the agency said. In 2022, Ottawa budgeted nearly C$4 billion in spending on critical minerals by 2030 but it’s not clear how pension funds are being engaged to support projects.

“The government of Canada continues to engage with critical minerals stakeholders, including pension plans and other institutional, arms-length investors,” Michael MacDonald, a spokesman for the federal Natural Resources Ministry, said in an emailed reply to questions.

It was MacDonald’s only reference to pension funds in what was otherwise a page-long list of government programs stemming from its critical minerals strategy. He suggested the Canada Development Investment Corp. (CDEV), a federal Crown corporation that advises the government on financial matters, might explain how mining companies could seek funding from the C$15 billion Canada Growth Fund. CDEV didn’t reply in time for this story.
Pensions mum

Pension funds themselves were even more reticent to discuss the issue. Only the Caisse de dépôt et placement du Québec (CDPQ), which Lassonde praised for its resource funding, replied to emails seeking comment. The Canada Pension Plan (CPP), the Ontario Teachers’ Pension Plan (OTPP), the Ontario Municipal Employees Retirement System (OMERS), and the PSP didn’t reply or declined to speak.

“CDPQ is active in the mining sector in Quebec and Canada and has an investment team dedicated to the sector,” Kate Monfette, the pension’s media director, said by email. “Among other things, with a fund like Sodémex which supports exploration projects, we remain on the lookout for developments and opportunities in the mining and materials ecosystem. Our priority is to focus on the most promising companies in order to help them develop while generating a return for our depositors.”


British Columbia Investment Management (BCI) said it invests 29.4% in Canada and referred other inquiries to its annual report. OMERS said it wouldn’t comment on the topic.


Canada should consider Australia’s example, Lassonde and Giustra said. Its pensions, which are called superannuation funds, hold A$3.5 trillion (C$3.1 trillion), the third-largest amount behind the US and the UK. Domestic equities make up 21.9% of their assets. The large stakes prevent foreign takeovers, the entrepreneurs argued.

“That’s what keeps their domestic mining industry alive,” Giustra said. “We’re a comparable country in terms of how prolific our mining opportunities are, same as Australia, and we don’t have that same opportunity.”

Letko Brosseau says Canada’s top eight pension funds have invested more in China than in Canadian companies: C$88 billion versus C$81 billion. CPP has 2% in domestic shares, BCI has 0.5% and OTPP has 0.1%, the firm says.

Economics urged


Giustra said mining CEOs must lobby pension funds with moral suasion for why they should invest in Canada and make an economic argument. With China’s current woes from property market turmoil and a long-term population decline in motion, its boom years are over and it’s time for Canadian pension funds to repatriate funds to the world’s second-largest country by landmass that has top-tier mining regulations.

Lassonde went further and said federal and provincial governments must legislate pension funds to increase their investments in Canadian resource companies. He’s backed Letko Brosseau’s presentations to finance ministers in BC and Ontario as well as to officials in Ottawa.


“We’re trying to get to the decision makers and trying to make them understand what Canada is losing by doing nothing,” he said. “They created these funds, it’s in their power to legislate how these funds are managed.”

Giustra, who heads private equity firm Fiore Group invested in Aris Gold (TSX: ARIS) with mines in Colombia, and Ontario-focused explorer West Red Lake Gold Mines (TSXV: WRLG), said Canadian asset managers slashed their non-pension dedicated mining funds to C$2.8 billion in 2022 from C$16 billion in 2010.


“There’s just no source of capital, the industry starves,” he said. “You don’t have the seniors funding them, the pension funds aren’t there and we’ve lost the traditional mining funds here as well.”

Lassonde, who led a group of investors assembling an offer in May for Teck’s coking coal assets that was later beat by Glencore, said he approached BCI and Ontario pensions for input but got no response.

“If you want steel and you want the lowest carbon-emitting steel in the world, it’s that coal, OK, and there was nobody to talk to,” he said. “In Australia, we could have done this deal in about five days.”