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Resource Clips

Posts tagged ‘cote d’ivoire’

Alberta most attractive mining destination in Canada, third worldwide

March 3rd, 2014

by Cecilia Jamasmie | March 3, 2014 | Reprinted by permission of

Alberta most attractive mining destination in Canada, third worldwide

Oilsands development in northern Alberta.


For the second consecutive year, Alberta—home to the booming and controversial oilsands industry—ranked first in the country and third worldwide as the most attractive jurisdiction for mining investors in the Fraser Institute’s annual global survey of mining executives.

The study, released March 3 as the Prospectors and Developers Association of Canada convention kicked off in Toronto, is based on input from 690 mineral exploration and development company executives.

Sweden and Finland scored the top places in this year’s survey, which spotlighted 112 jurisdictions worldwide. Kyrgyzstan and Venezuela were named the worst two countries to venture.

“Miners praise Alberta for its transparent and productive approach to mining policy. The province offers competitive taxation regimes, sound legal systems and relatively low uncertainty around land claims. That’s what miners look for,” said Kenneth Green, Fraser Institute senior director of energy and natural resources.

Two other Canadian jurisdictions—New Brunswick (7), and Newfoundland and Labrador (9)—ranked in the top 10 worldwide, followed by Saskatchewan (12), Yukon (19), Quebec (21), Manitoba (26), Ontario (28), Nova Scotia (29), British Columbia (32), Nunavut (44) and the Northwest Territories (47).

Quebec, once the darling of mining investors, continued to fall down the rabbit hole. From 2007 to 2009, the French-speaking district topped the survey, then dropped to fifth in 2011, 11th in 2012 and finally 21st worldwide in 2013, due in part to amendments to Quebec’s mining act and recent tax policy changes.

“If Quebec wants to renew confidence in the global mining sector, it should reduce red tape, minimize the risk associated with policy changes and tax increases, and respect negotiated contracts,” Green said.

B.C. dropped to 32nd from 31st in 2012, though the survey recorded improved perceptions regarding the western province’s political stability and availability of labour and skills.

The Canadian public policy think tank also identified the 10 places mining enthusiasts should avoid. From the bottom, they are Kyrgyzstan, Venezuela, Philippines, Argentina (La Rioja and Mendoza), Angola, Zimbabwe, Ivory Coast, Indonesia and Madagascar.

Reprinted by permission of

Five reasons China is coming to buy your gold mine

August 21st, 2013

by Frik Els | August 21, 2013 | Reprinted by permission of

Chinese producers are aggressively looking at picking up gold companies and mines elsewhere as domestic demand reaches record highs.

Takeovers and asset purchases by Hong Kong and mainland miners increased to a record $2.2 billion in 2013 according to data compiled by Bloomberg.

Five reasons China is coming to buy your gold mine

Chinese companies like Zijin Mining Group and Zhaojin Mining Industry Co are in a good position to take a bite out of struggling North American and European-based producers because:

Chinese gold demand is soaring and at 1,000 tonnes will overtake Indian purchases this year, but domestic deposits are less than 5% of the global total.

Targets are cheap—the S&P/TSX Global Gold Index of the globe’s 49 biggest gold companies are down 31% this year alone.

Domestic Chinese producers enjoy some of the lowest cash costs—Zhaojin manages $549 an ounce, compared with a global average of $831.

Chinese and Hong Kong companies have access to cheap capital—Zijin got $4.9 billion in soft loans from a state bank for M&A.

The majors are actively looking to sell as debt levels increase and high-cost mines are mothballed—Barrick Gold TSX:ABX could dump as many as 12 of its mines.

Possible targets include:

While these companies are looking to get rid of a number of mines:

See also: $45bn and counting: China’s foreign mining misadventures

Reprinted by permission of

La Mancha reports Ivory Coast Gold Assays up to 2.08 g/t over 34.6m

February 1st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningLa Mancha Resources Inc TSX:LMA announced results from its Sissedougou and Bondoukou properties in Ivory Coast.

Sissedougou assays include
2.08 g/t gold over 34.6 metres
(including 31.52 g/t over 1 metre)
2.3 g/t over 18.8 metres
2.14 g/t over 23 metres
(including 10.7 g/t over 2 metres)

Bondoukou assays include
1.09 g/t gold over 24 metres
37 g/t over 1 metre

President/CEO Dominique Delorme stated, “The Ity Mine and more recently the Tongon mine have already confirmed Cote d’Ivoire’s gold potential. The success of our exploration programs over the last few months can only add to the rising profile of this country within the gold community. Although our 2011 drilling program has confirmed the prospectivity of both of our two wholly-owned projects, Sissedougou and Bondoukou, the regularity, high grades and widths of the intercepts obtained over a strike length of more than 800 metres on the Sissedougou licence places it in a class of its own. Moreover, Sissedougou’s proximity to Rangold’s multi-million-ounce Tongon gold deposit adds to the importance of the results released today. Sissedougou really has the potential to develop into a significant resource.”

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Martin Amyot
VP of Corporate Development
514.987.5115 x 25

or Nicole Blanchard
Investor Relations
514.987.5115 x 26

by Greg Klein