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Released June 26, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's mining sector, which is one of the largest in the world, is seeing some near-term development in its market for gold, gypsum, metallurgical coal and other hot commodities. In fact, some long-shuttered mines are seeing revived interest. Industrial Info is tracking about US$3.7 billion worth of mining-related projects across Canada that are slated to begin construction in the third quarter, most of which is attributed to projects with a medium-to-high likelihood (70% or more) of beginning construction as planned.
Click on the image at right for a graph detailing the top 10 parent companies for Canadian mining projects set to kick off from July through September.
Establishing entirely new mining facilities is a long, costly process fraught with red tape, but some of Canada's miners are notching up significant growth through expansions and additions to existing facilities. Compass Minerals International Incorporated (Overland Park, Kansas) expects to begin construction on a new, US$44.7 million mill at its room-and-pillar salt mine near Goderich, Ontario, which will enable the mine to sustain its 6.5 million-ton-per-year salt production and shorten the haulage distance to the mining area.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
The rising demand for some commodities is leading to the revival of long-shuttered mines across Canada. McEwen Mining Incorporated (NYSE:MUX) (Toronto) is at work on a US$29.2 million redevelopment of its Black Fox Complex in Matheson, Ontario, which closed in 2005, to extract 20,000 ounces per year of gold over a nine-year mine life. Subscribers can learn more from a detailed project report.
Maritime Resources Corporation (Toronto, Ontario) is preparing for a US$46 million redevelopment of the Hammerdown deposit at its Green Bay Gold Mine in King's Point, Newfoundland. The company plans to redevelop Hammerdown, which was closed in 2004, to produce 237,800 tons per year of ore, which will be sent to FireFly Metals Limited's (Perth, Western Australia) Nugget Pond Copper-Gold Mill in Baie Verte, Newfoundland, itself preparing for an US$8.76 million restart after it was idled in 2013. Subscribers can read detailed reports on the Hammerdown and Nugget Pond projects.
According to Maritime Resources, the Hammerdown deposit contains proven reserves of 106,000 ounces of gold and probable reserves of 166,000 ounces. Last August, the company acquired the nearby Pine Cove mill facility, the proximity of which it believes will reduce capital and operating costs. "We are now completing the remaining pre-development work, including confirmatory metallurgical tests to ensure gold recoveries are optimized, and a full mechanical/electrical inspection of the Pine Cove gold circuit," said Garett Macdonald, the chief executive officer of Maritime Resources, earlier this month in a press release.
Farther south, Canadian Gypsum Company (CGC), a subsidiary of Knauf Group (Iphofen, Germany), is planning a US$75.9 million restart, modernization and expansion of its Little Narrows Gypsum Quarry in Nova Scotia, which closed in 2016. Over three years, CGC expects to raise the facility's raw gypsum output to 2 million tons per year, in response to the demand for materials used in wallboard products. Subscribers can learn more from a detailed project report.
Other projects involve improving operations at existing mines. Teck Resources Limited (NYSE:TECK) (Vancouver, British Columbia) is at work on a sweeping, 10-year program to upgrade or rebuild aging haul trucks at its coal-mining facilities across Canada, including a US$50 million effort at its Line Creek Mine in Sparwood, British Columbia, which will cover 29 Caterpillar trucks, and an US$80 million effort at its Elkview Mine in Sparwood, which will cover 21 Komatsu trucks. Subscribers can read detailed reports on the Line Creek and Elkview projects.
The Line Creek and Elkview mines produce metallurgical coal (met coal), which is used in the steelmaking process. In a recent earnings-related conference call, Teck executives acknowledged their met coal business was under pressure from higher unit operating costs and lower sales volumes. Last year, the company announced plans to sell off a 77% stake in its Canadian coal assets to Glencore plc (Baar, Switzerland) for US$9 billion.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for mining-related projects across Canada that are slated to begin construction in the third quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies for Canadian mining projects set to kick off from July through September.Establishing entirely new mining facilities is a long, costly process fraught with red tape, but some of Canada's miners are notching up significant growth through expansions and additions to existing facilities. Compass Minerals International Incorporated (Overland Park, Kansas) expects to begin construction on a new, US$44.7 million mill at its room-and-pillar salt mine near Goderich, Ontario, which will enable the mine to sustain its 6.5 million-ton-per-year salt production and shorten the haulage distance to the mining area.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
The rising demand for some commodities is leading to the revival of long-shuttered mines across Canada. McEwen Mining Incorporated (NYSE:MUX) (Toronto) is at work on a US$29.2 million redevelopment of its Black Fox Complex in Matheson, Ontario, which closed in 2005, to extract 20,000 ounces per year of gold over a nine-year mine life. Subscribers can learn more from a detailed project report.
Maritime Resources Corporation (Toronto, Ontario) is preparing for a US$46 million redevelopment of the Hammerdown deposit at its Green Bay Gold Mine in King's Point, Newfoundland. The company plans to redevelop Hammerdown, which was closed in 2004, to produce 237,800 tons per year of ore, which will be sent to FireFly Metals Limited's (Perth, Western Australia) Nugget Pond Copper-Gold Mill in Baie Verte, Newfoundland, itself preparing for an US$8.76 million restart after it was idled in 2013. Subscribers can read detailed reports on the Hammerdown and Nugget Pond projects.
According to Maritime Resources, the Hammerdown deposit contains proven reserves of 106,000 ounces of gold and probable reserves of 166,000 ounces. Last August, the company acquired the nearby Pine Cove mill facility, the proximity of which it believes will reduce capital and operating costs. "We are now completing the remaining pre-development work, including confirmatory metallurgical tests to ensure gold recoveries are optimized, and a full mechanical/electrical inspection of the Pine Cove gold circuit," said Garett Macdonald, the chief executive officer of Maritime Resources, earlier this month in a press release.
Farther south, Canadian Gypsum Company (CGC), a subsidiary of Knauf Group (Iphofen, Germany), is planning a US$75.9 million restart, modernization and expansion of its Little Narrows Gypsum Quarry in Nova Scotia, which closed in 2016. Over three years, CGC expects to raise the facility's raw gypsum output to 2 million tons per year, in response to the demand for materials used in wallboard products. Subscribers can learn more from a detailed project report.
Other projects involve improving operations at existing mines. Teck Resources Limited (NYSE:TECK) (Vancouver, British Columbia) is at work on a sweeping, 10-year program to upgrade or rebuild aging haul trucks at its coal-mining facilities across Canada, including a US$50 million effort at its Line Creek Mine in Sparwood, British Columbia, which will cover 29 Caterpillar trucks, and an US$80 million effort at its Elkview Mine in Sparwood, which will cover 21 Komatsu trucks. Subscribers can read detailed reports on the Line Creek and Elkview projects.
The Line Creek and Elkview mines produce metallurgical coal (met coal), which is used in the steelmaking process. In a recent earnings-related conference call, Teck executives acknowledged their met coal business was under pressure from higher unit operating costs and lower sales volumes. Last year, the company announced plans to sell off a 77% stake in its Canadian coal assets to Glencore plc (Baar, Switzerland) for US$9 billion.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for mining-related projects across Canada that are slated to begin construction in the third quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
