Cline Mining sues B.C. government for $500 million
VANCOUVER — Cline Mining (CMK-T) is suing the British Columbia government for $500 million in compensation for the coal licenses it lost when the government banned mining in the Flathead valley.
Canada
Selwyn reduces scope of project in face of high capital costs
VANCOUVER — High capital costs have forced Selwyn Resources (SWN-V) to drastically cut planned mine throughput for its Yukon lead-zinc underground mine as its tries to make the project affordable.
[Update] Authorities tame Kirkland Lake, Timmins forest fires
VANCOUVER — Raging forest fires attributed to irresponsible campers near the towns of Kirkland Lake and Timmins in northeastern Ontario forced residents from their homes, and impacted four regional gold operations, as fire crews and the…
Prophecy Platinum sees promising signs at Wellgreen
VANCOUVER — Things keep rolling along for Vancouver-based exploration outfit Prophecy Platinum (NKL-V) at its flagship Wellgreen platinum group metals (PGM) and nickel project in the Yukon Territories. The company released a flurry of…
Venture sees straight gains in May 22-25 period
VANCOUVER — During the May 22-25 period the S&P TSX Venture Composite Index managed to claw back much of the steep losses it had suffered the week prior, gaining 81.39 points to end the period at 1,309.27 points after four days of…
Market News
TORONTO STOCK EXCHANGE
Exchange rates
EXCHANGE RATES CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate) Date May 21 May 18 May 17 May 16 May 15 US$ in C N/A 1.0210 1.0164 1.0102 1.0029 …
Editorial: Stainless steel turns 100
Looking for an excuse to celebrate something in mining? Look no further than the one-hundredth anniversary of the invention of stainless steel — that wonderfully shiny, hard, corrosion-resistant alloy that’s one building block of a…
Commentary: Canada’s rise as an energy superpower
Canada is rapidly becoming recognized as one of the world’s energy superpowers. Canada is the leading foreign supplier of oil to the U.S. — delivering nearly twice as much each year as Saudi Arabia — and is the origin of 90%…
First resource for Cliffs’ and First Point’s Decar
A maiden resource estimate on Cliffs Natural Resources’ (CLF-N) and First Point Minerals’ (FPX-V) Decar nickel-iron alloy project in northern B.C. has delineated almost 3 billion lbs. nickel in the ground. The inferred resource on…
Canada Lithium down on $30M equity financing
Canada Lithium (CLQ-T) saw its share price deflate after revealing it would raise $30 million in equity to finish building and commissioning the Quebec Lithium project near Val-d’Or by year-end. The junior filed a preliminary short-form…
Commerce Resources’ Ashram rare earth project at $2.3bn NPV
VANCOUVER — Commerce Resources (CCE-V) has outlined the financial case for its remote Ashram rare earth project in a preliminary economic assessment.