Friday 28th October 2016

Resource Clips

Posts tagged ‘sudan’

How fares Canada in the Fraser Institute’s global mining survey?

February 25th, 2015

by Greg Klein | February 25, 2015

Saskatchewan’s number two worldwide, Quebec’s back in the top 10 and Manitoba climbed 17 notches. But Alberta, Ontario and British Columbia took a beating in the latest Fraser Institute survey of mining jurisdictions. Released February 24, the study rates 122 jurisdictions (including provinces and states in Canada, the United States, Australia and Argentina) based on 485 returned questionnaires. Drawing on their 2014 experience, mining and exploration companies provided numerical ratings for a number of factors, which the institute tracked on separate indexes.

Most important is the Investment Attractiveness Index, which combines two other indexes—Best Practices Mineral Potential (geology) and Policy Perception (government attitudes). The institute weighs the IAI 60% for geology and 40% for public policy, roughly the same consideration companies reported for their investment decisions.

Here’s the top 10 IAI globally, with 2013 rankings in brackets:

1 Finland (4)
2 Saskatchewan (7)
3 Nevada (2)
4 Manitoba (13)
5 Western Australia (1)
6 Quebec (18)
7 Wyoming (11)
8 Newfoundland and Labrador (3)
9 Yukon (8)
10 Alaska (5)

Here are the Canadian runner-ups:

15 Northwest Territories (25)
21 New Brunswick (23)
22 Alberta (10)
23 Ontario (14)
28 British Columbia (16)
29 Nunavut (27)
42 Nova Scotia (47)

Prince Edward Island wasn’t included.

As for the bottom 10:

113 Sudan
114 Nigeria
115 Bulgaria
116 Guatemala
117 Egypt
118 Solomon Islands
119 Honduras
120 Kenya
121 Hungary
122 Malaysia

The 122 jurisdictions totalled 10 more than in 2013. For inclusion, the institute requires a minimum of 10 responses per jurisdiction.

The anonymous replies also included comments which, for Canadian provinces and territories, note serious but unsurprising concerns.

But for some people, the rankings rankled. B.C.’s 10th-place finish out of 12 Canadian jurisdictions doesn’t jibe with the province’s second-place status for mining investment, according to the Association for Mineral Exploration British Columbia. Citing data from Natural Resources Canada, AME BC credited Ontario as Canada’s favourite for attracting investment. Fraser Institute respondents stuck that province with ninth place in Canada.

“Furthermore, one of the best indicators of success in exploration is seeing discoveries move through to mine development,” said AME BC president/CEO Gavin Dirom. “In recent years, we have seen a number of new major metal mines constructed in our province, including Copper Mountain in 2011, New Afton in 2012 and Mount Milligan in 2013. Also, Red Chris is being readied for commercial operations, and the KSM and Kitsault mine development projects have received environmental assessment certificates.”

The NWT and Nunavut Chamber of Mines noted the Northwest Territories’ considerable improvement and its breakaway territory’s slight slump. The organization vowed to continue working with federal and territorial governments “to improve the investment climate for exploration and mining in the two territories.”

Download the Fraser Institute Survey of Mining Companies 2014.

UN fails to staunch flow of blood diamonds, gold from Central African Republic

November 5th, 2014

by Greg Klein | November 5, 2014

Even after the Kimberley Process banned diamond imports from the Central African Republic last year, the country exported an estimated 140,000 carats worth $24 million, according to a November 5 Reuters story. As violence escalates again, a UN panel wants mining sites monitored by troops and drones.

Following an outbreak of sectarian fighting in late 2012, Muslim Seleka rebels established regional strongholds. Between December 2013 and last August, about 3,000 people were killed amid reports of looting, kidnapping and rape. Mining licences and commodity taxes help fund the carnage, the UN found.

About 8,000 peacekeepers out of a 12,000-strong commitment are currently deployed in the CAR, Reuters added.

Diamonds are a rebel’s best friend in CAR, as armed groups smuggle blood diamonds and trade them for arms.—Sasha Lezhnev,
senior policy analyst
with the Enough Project

In August at least 25 illegal miners died after an open pit collapsed at or near AXMIN Inc’s (TSXV:AXM) Passendro gold project in the south-central CAR. It was the second such accident in the area since June 2013, when at least 37 people died. AXMIN had already suspended its exploration and pre-development work at the location, declaring a force majeure in December 2012.

“The victims of the deadly collapse were artisanal miners, who use their hands and cheap tools to dig minerals out of the earth in illicit operations that help finance the violent conflicts in the war-ravaged country,” the Globe and Mail reported.

French uranium giant AREVA pulled out of the CAR in 2012, where its 90%-held Bakouma project began test mining in 2010 and was scheduled for full production in 2014 to 2015.

A May report from the Enough Project blamed illicit diamonds, oil and ivory for funding weapons, fuel and poaching equipment.

“Diamonds are a rebel’s best friend in CAR, as armed groups smuggle blood diamonds and trade them for arms,” said Sasha Lezhnev, the project’s senior policy analyst.

CAR diamonds “are sold to traders in the Darfur region of Sudan, as well as Chad, Cameroon and the Democratic Republic of Congo,” the report stated. “The traders circumvent the international Kimberley Process certification scheme and [the diamonds] are likely sold on the world market in the United Arab Emirates, Belgium, India, South Africa, Saudi Arabia and Qatar.”

La Mancha reports Sudan Assays of 1.4 g/t Gold, 9.4 g/t Silver over 218m

September 13th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningLa Mancha Resources Inc TSX:LMA announced results from its Hassai Mine in Sudan. Highlights include 1.4 g/t gold, 9.4 g/t silver, 0.55% copper and 0.44% zinc over 218 metres, 94 g/t gold and 225 g/t silver over 3.3 metres, 1.76 g/t gold, 2% copper and 0.31% zinc over 84 metres, 2.04 g/t gold, 1.96% copper and 0.86% zinc over 38 metres and 1.65 g/t gold, 18.8 g/t silver, 6.39% copper and 0.35% zinc over 11 metres.

La Mancha owns 40% of the mine through a Sudanese subsidiary and acts as project operator. The mine’s 2011 expected production attributable to La Mancha is up to 28,000 gold ounces. An updated resource is scheduled for release in early 2012.

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by Greg Klein