GOLD MINING: Production begins at Rock Creek in Alaska
NOVAGOLD RESOURCES of Vancouver has received official authorization and begun gold production at the Rock Creek open pit mine and mill near Nome. State regulators have approved the company’s plans to ramp up production and begin placing tailings in the storage facility.
Upon achieving full commercial production, the Rock Creek mine is expected to produce approximately 100,000 oz of gold annually with life-of-mine cash costs estimated at US$500/oz. At current metal prices, NovaGold anticipates generating $25 million to $35 million in cash flow from Rock Creek on a yearly basis. Read more
Copper Fox Applauds Advancement of Northwest Power Line
Copper Fox Metals Inc. (CUU-TSX-V, CPFXF-S/P) applauds Premier Gordon Campbell, and the Province of British Columbia for its announcement to immediately start the environmental assessment process and
First Nations Consultation on the Northwest Transmission Line (NTL) along
Highway 37.
“The potential that the power line holds for the region, and projects under development such as Schaft Creek, is tremendous,” said Guillermo Salazar S., President of Copper Fox. “This transmission line investment, which will
allow Schaft Creek to access the electrical power grid, validates the business case made by supporters such as Copper Fox and the Mining Association of British Columbia,” said Salazar. “As we move forward in fall 2008 with the
full Feasibility Study, this development will be integral in realizing Schaft Creek’s potential.”
The province will invest the estimated $10 million to immediately restart the environmental assessment process – the first step towards building the Northwest Transmission Line. The new 287-Kilovolt line will extend 335 km from
Terrace.
The development of the NTL has the potential to attract billions of dollars of investment, create thousands of new jobs, and reduce reliance on diesel-electric generation. Read more
Inuit balk at Nunavut gold mine’s English-only rule
Inuit workers at a gold mining project in central Nunavut say they can’t speak their mother tongue on the job – a rule that company officials say is necessary for safety reasons.
The Kivalliq Inuit Association is outraged with Agnico-Eagle Ltd.’s policy of making all mine workers speak only English while at work at Meadowbank, located about 70 kilometres north of Baker Lake on the western shore of Hudson Bay.
That means Inuit mine workers from the area cannot speak Inuktitut on the work site – not even “Qanuippit,” which means, “Are you OK?”
“I found it was very inappropriate and very offensive,” association vice-president Joe Kaludjak told CBC News on Thursday.
“The Inuit people have power on these kinds of things – language especially. It’s protected and it can be used anywhere you want.”
Company officials say the English-only rule applies mainly to radio communications.
The issue came up earlier this week at the association’s board meeting in Rankin Inlet, when Baker Lake board member Ewin Evo voiced his concern with Inuit workers being forbidden to speak Inuktitut.
Martin Bergeron, Agnico-Eagle’s general manager for Western Canada and Nunavut, said the company strives to be respectful of Inuit language and culture, along with the many other cultural backgrounds that converge at the Meadowbank site.
“If you go at the kitchen or cafeteria area, for example, you will hear a mixture of languages. People are enjoying themselves in their own language and are comfortable,” Bergeron said.
“We do not stop people from using their own language. We want, for safety reasons, to make sure that people use a common language – English – when on the worksite.”
Bergeron added that the company does everything it can to protect Nunavut’s Inuit culture.
The Kivalliq Inuit Association promised to set up a meeting with the company in October so they can discuss the issue further.
Tags: Goldmine
Inuit balk at Nunavut gold mine’s English-only rule – Yahoo! Canada News
Inuit workers at a gold mining project in central Nunavut say they can’t speak their mother tongue on the job – a rule that company officials say is necessary for safety reasons.ADVERTISEMENTThe Kivalliq Inuit Association is outraged with Agnico-Eagle Ltd.’s policy of making all mine workers speak only English while at work at Meadowbank, located about 70 kilometres north of Baker Lake on the western shore of Hudson Bay.That means Inuit mine workers from the area cannot speak Inuktitut on the work site – not even “Qanuippit,” which means, “Are you OK?”"I found it was very inappropriate and very offensive,” association vice-president Joe Kaludjak told CBC News on Thursday.”The Inuit people have power on these kinds of things – language especially. It’s protected and it can be used anywhere you want.”Company officials say the English-only rule applies mainly to radio communications.The issue came up earlier this week at the association’s board meeting in Rankin Inlet, when Baker Lake board member Ewin Evo voiced his concern with Inuit workers being forbidden to speak Inuktitut.Martin Bergeron, Agnico-Eagle’s general manager for Western Canada and Nunavut, said the company strives to be respectful of Inuit language and culture, along with the many other cultural backgrounds that converge at the Meadowbank site.”If you go at the kitchen or cafeteria area, for example, you will hear a mixture of languages. People are enjoying themselves in their own language and are comfortable,” Bergeron said.”We do not stop people from using their own language. We want, for safety reasons, to make sure that people use a common language – English – when on the worksite.”Bergeron added that the company does everything it can to protect Nunavut’s Inuit culture.The Kivalliq Inuit Association promised to set up a meeting with the company in October so they can discuss the issue further.
Tags: Goldmine
Goldcorp announces closing of Gold Eagle transaction
Goldcorp Inc. (NYSE:GG, TSX:G) and Gold Eagle Mines Ltd. (TSX:GEA) announced today that the acquisition of Gold Eagle by
Goldcorp has been completed. Under the Plan of Arrangement, shareholders of Gold Eagle were entitled to receive at their election and subject to proration either C$13.60 in cash;0.292 of a common share of Goldcorp and $0.0001 in cash; or any combination thereof, for each Gold Eagle common share held. Gold Eagle shareholders elected to receive a cash amount greater than the maximum available according to the terms of the Plan. As a result, shareholders will receive approximately
52.7% of the cash amount that they elected or were deemed to have elected. In aggregate, C$725.8 million in cash and 15.6 million common shares of Goldcorp will be paid and issued to Gold Eagle shareholders. The common shares of Gold
Eagle will be de-listed from the Toronto Stock Exchange effective at the close of markets on Tuesday, September 30, 2008.
Goldcorp’s acquisition of Gold Eagle’s Bruce Channel discovery secures control of eight kilometres of strike length along the prolific Red Lake trend in Ontario, Canada. Bruce Channel is southwest of Goldcorp’s Red Lake mine and
contiguous to its Cochenour-Willans Project.
“The Gold Eagle transaction is consistent with our strategy of adding high quality gold reserves and pursuing responsible growth in the districts where we already operate,” said Kevin McArthur, Goldcorp President and Chief Executive Officer. “Our focus now turns to maximizing Red Lake’s potential through productivity initiatives, open pit opportunities, enhanced milling alternatives and exploration success already achieved at this world-class mine.” Read more
Stratabound Announces Latest Copper-Cobalt-Gold Intersections in Captain Drilling
Stratabound Minerals Corp. (TSX.V:SB) is pleased to release results of the latest six holes drilled on its 100%-owned Captain copper-cobalt property near Bathurst, New Brunswick. A series of 25 holes totaling 5,098 metres was completed with the intention of delineating a potential copper-cobalt resource at open-pit depth. The program has been successful in outlining potentially economic-grade mineralization at possible open-pit and underground mining depths.
An independent mineral resource estimate is in preparation, which will be compliant with both Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Reserves Definitions and Guidelines (the
CIMM Standards) and reporting requirements of National Instrument 43-101. The New Brunswick Research and Productivity Council (RPC) is currently carrying out preliminary metallurgical investigations on the Captain deposit
to assess methods for recovering payable metal concentrates.
The Company is planning to resume an exploratory deep-drilling program on Captain following freeze-up.
Results from the first 19 holes were reported previously and are available on the company’s website, www.stratabound.com., and summarized information pertaining to the six holes reported in this news release are
presented in tables below. Values below 0.25% copper, 0.1 g/t gold, 8.0 g/t silver, 0.01% cobalt, 0.01% bismuth are not shown. Read more
