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In a recent paper in the journal Annual Review of Earth and Planetary Sciences, US-based researchers state that uranium mining near the Grand Canyon’s springs and groundwater sources requires better monitoring and the application of hydro-tectonic concepts to reevaluate their viability.

The data the scientists reviewed suggest that the high level of interconnectivity of the groundwater systems in the area means that uranium mining and other contaminant activities pose risks to people, aquifers, and ecosystems. 

“This is unsurprising for anyone who has looked at the mixing of rivers, but similar processes are more hidden and incompletely understood in groundwater,” Karl Karlstrom, one of the paper’s authors from the University of New Mexico, said in a media statement. “Water flows down gradient, and fault pathways control where groundwater ponds in sub-basins. In the Grand Canyon region, these sub-basins are each vented by major springs on tribal or parkland.”

The highest-volume springs are the Havasu Spring, on the Havasupai Reservation, which supplies water for the Village of Havasupai people inside the Grand Canyon, and the Blue Spring, which is culturally significant for Navajo and Hopi peoples. Other springs emerge in parkland and provide water for the Grand Canyon’s more than six million annual visitors.

In the authors’ view, hydro-tectonic concepts are needed to understand Grand Canyon springs and groundwater wells.

“Our research efforts have utilized geologic mapping and geochemical tracers in the groundwater systems, leading us to conclude that faults act as fluid superhighways, connecting upper and lower aquifers that were once thought of as separated by impermeable layers,” Laura Crossey, lead author of the paper, said. “These concepts have wide applications and generally have been underappreciated in other global arid-land groundwater systems.”

In the case of the Colorado Plateau system, the researchers believe these concepts have significant and timely societal importance. The Pinyon Plain – formerly known as the Canyon – uranium mine, very close to the park’s South Rim Village, began extracting ore in January 2024. 

“State and Federal permitting agencies should consider all the available science,” Karlstrom said, concerning the environmental approval for Energy Fuel’s mine. “Tribes claim the permitting is ignoring recent peer-reviewed science and risks to culturally significant features.”

The researchers recommend abundant caution and no mining in this sensitive region due to the considerable contamination risk of portions of the regional aquifer system, including the very susceptible Havasupai springs that supply Havasupai Village.

Interest in uranium has surged amid a growing supply gap and increased demand as governments worldwide turn to nuclear power to counter climate change. In addition, the US is looking to ban imports of enriched Russian uranium — the kind used to fuel nuclear reactors and weapons — raising the appeal of potential local suppliers.

Endeavour Mining (TSX, LON: EDV) has concluded an internal investigation into former chief executive Sébastien de Montessus’ financial dealings while at the post, concluding he intentionally concealed payments totalling $15 million to an undisclosed third party.

The London-based metals precious metals producer dismissed de Montessus in January, citing serious misconduct as he authorized an irregular $5.9 million payment related to an asset sale. 

Endeavour noted the French executive had not informed the board about this payment instruction, adding that he disguised it as an advance installment owed to a contractor.

The company, backed by Egyptian billionaire Naguib Sawiris, said in a statement de Montessus’ actions had “caused” the company to make two payments adding up to $15 million to the same third party that had received the $5.9 million.

“No evidence of bribery, or of any payments being made to sanctioned persons or to terrorist groups,” the company said. 

The miner noted the ultimate beneficiaries of the irregular payments have not been discovered, despite extensive investigation.

De Montessus has denied allegations of misconduct but acknowledged at one point “a lapse in judgement”. He attended two interviews during the internal investigation, but his claim that the initial payment was utilized to purchase security equipment in a conflict zone was deemed “implausible and untrue” by Endeavour.

His abrupt departure marked the conclusion of a seven-year leadership at Endeavour. During his tenure, he helped reshape the company by engaging in numerous deals and constructing new mines to replace small, high-cost operations.

Endeavour made a takeover approach last year to rival Kinross Gold (TSX:K), but the company rebuffed the bid.

The miner currently has four operation gold mines, which are located in Senegal, Côte d’Ivoire and Burkina Faso.

BHP (NYSE: BHP) announced on Thursday that Don Lindsay, the former CEO of Teck Resources, will join its board as a non-executive director.

The miner also announced the retirement of Ian Cockerill as a non-executive director, effective April 4, 2024. Cockerill was appointed CEO of Endeavour Mining in January 2024.

Lindsay led Teck Resources for 17 years. After his retirement in 2022, he assumed the role of chairman at Manulife Financial Corporation, Canada’s largest insurance company.

“Don brings a strong focus on global resource development, growth and value creation, as well as community health, safety and education. We look forward to welcoming Don to the board on May 1, 2024,” BHP’s chair, Ken MacKenzie said in a release.

The news of Lindsay’s appointment comes shortly after the announcement of Ross McEwan as a non-executive director, effective April 3.

Video: Don Lindsay on Glencore’s pursuit of Teck and resource nationalism

Hummingbird Resources (AIM: HUM) said on Thursday that it won’t be able to reach commercial production at its Kouroussa gold mine in Guinea by the end of March, as its main contractor has not conducted any mining since mid-March.

“As a consequence of the current significantly reduced mining activity, achieving commercial production will be delayed beyond our Q1 2024 target, until full mining capacity is restored onsite,” the Africa-focused miner said.

The company noted that a supporting mining contractor continues to run the mine, with the processing plant processing this ore and stockpiled material. 

Corica Mining Services halted work at Kouroussa earlier this month as a result of various contractual disputes. Corica argues that Hummingbird owes it $27 million for work already completed, while the miner says the contractor “failed to meet mining contract volumes due to delays in mining equipment mobilization, commissioning, and overall operating performance”.

Hummingbird said on Thursday it had attempted to solve the ongoing situation by engaging in discussions with Corica, alternative and additional contractors, suppliers, and the company’s primary lender, Coris Bank International.

“The objective of these discussions was to restart mining operations at Kouroussa as soon as possible and outline a path towards achieving sustainable commercial production levels,” the company noted, adding that talks remain ongoing. 

“Resolution to the current situation will allow the upcoming blast to proceed, which is expected to provide access to higher-grade ore necessary to achieve commercial production,” it said in the statement.

Kouroussa, Hummingbird’s second operating mine, achieved first gold pour in June 2023 and it is expected to churn out an average of 120,000 to 140,000 ounces of gold for the first three years of commercial production. After that, Kouroussa would average 100,000 ounces of gold a year over an initial seven-year life. 

Hummingbird took out a $55 million loan with Coris Bank in September, pledging to cut $122.8 million in debt over three years starting with a $77 million debt repayment by the end of this year. 

The miner also raised $30 million mainly through a share placement at an average price of 11.26 pence per share with shareholders, including 45% shareholder CIG, an investment bank.

Hummingbird agreed at the time to hedge 30,000 ounces of gold, which represents about 15% of its total production. This decision was made amid soaring bullion prices, which has been hitting all-time highs and is currently trading at $2,209.36 per ounce.

The miner has faced challenges in bringing the Kouroussa mine up to full production. Aside from the ongoing issues with Corica, activities at the mine were disrupted last year by rain, a fire and delays associated with skills development.

Syensqo, previously part of Solvay group, has launched its Transfoamer product line, the first frother innovation in more than 65 years.

Well suited for coarse particle recovery, Transfoamer frothers are based on a novel technology that changes froth strength in response to pH, leading to more efficient copper recovery from even the most challenging ores, a critical need as copper demand grows in response to electrification and the energy transition.

“As ore grades decline, many mining companies are grinding coarser particles to push tonnage or save energy,” Ricardo Capanema, Syensqo’s business development director, mining solutions, said in a press release.

“Mines often use a blend of strong and weak frothers, which results in a steady froth but prevents the frother from performing at peak potential,” he said. “Our new single-frother solution addresses this limitation and overfrothing issues common in the cleaner stage.”

Transfoamer frothers start as strong and robust frothers in the rougher circuit. Then, in response to pH, they “switch” to weaker frothers in the cleaner circuit, where less froth is needed. This property is particularly attractive for use in bulk copper and molybdenum flotation.

For more challenging ore types, Transfoamer frothers can be further tailored with the Syensqo Cube connected dosing unit to optimize efficiency and recovery. Additionally, Transfoamer frothers do not build up or recirculate, which improves circuit stability.

What the market interpreted to be an exploration miss for Volcanic Gold Mines (TSXV: VG) at the Mila discovery on the Motagua Norte project in Guatemala turned out to help zero in on the actual gold source, says president and CEO Simon Ridgway.

This adjustment in the geological understanding pointed the team towards more targeted drilling locations and refined their exploration strategy.

“I was very excited by the fact that we’ve missed in the first few holes because it led me to where the gold’s coming from,” he told The Northern Miner’s western editor, Henry Lazenby, this month during the Prospectors and Developers Association of Canada’s convention in Toronto.

The company plans to focus on the Motagua Norte and nearby Holly properties this year, aiming to expand their exploration activities along the prospective Veta Madre Fault zone.

Watch the full video below.

Alamos Gold (TSX: AGI; NYSE: AGI) is acquiring Argonaut Gold (TSX: AR) and its past-troubled Magino mine in northern Ontario in an all-share deal valued at $325 million to become Canada’s third-largest gold producer.

The transaction, scheduled to close in July, is expected to create $515 million in cost-savings over about two decades of production from Alamos’ Island mine and the neighbouring Magino located northeast of Lake Superior, the companies said Wednesday. Alamos will use Magino’s larger mill and tailings facilities instead of Island’s. Total Alamos output is expected to increase by about a quarter to around 630,000 oz. gold per year.

“The addition of Magino will make Alamos a stronger company and enhance our unique position as a growing intermediate producer, with declining costs, and one of the lowest political risk profiles in the sector,” Alamos president and CEO John McCluskey said during a webcast.

“With respect to our whole phase three expansion and some of the aspects of going into that, the fact that we were just about to practically rebuild a new mill. We just don’t have to do that now,” McCluskey said. “There were costs that we were going to incur this year on the tailings lift for our existing tailings facility, about $20 million in costs. That’s just something we don’t have to do at this point.”

The acquisition gives Alamos a fourth long-life producing asset in addition to its two mines in Ontario – Young-Davidson and Island – and Mulatos in Mexico. It has the Lynn Lake development project in Manitoba, which received federal environmental approval last year, as well as others in Turkey and Oregon.

Shares in Alamos rose more than 7% on Wednesday in Toronto to C$19.79 apiece, valuing the company at C$7.9 billion. They’ve traded in a range of C$14.80 to C$20.20 over the past 52 weeks.

Argonaut started commercial production at Magino in November after construction costs almost doubled to nearly C$1 billion and led to the ouster of a CEO before a mill problem postponed output.

The Reno, Nev.-based company estimated the mine would cost C$510 million to build in 2020 but inflation and other challenges increased the final tally to C$980 million. Founder, president and CEO Peter Dougherty left in late 2021.

After it poured first gold at Magino on June 15, production was delayed while the mill was repaired for 20 days in September, causing Argonaut to miss last year’s guidance. Argonaut sold another 1% output stream to Franco-Nevada (TSX: FNV; NYSE: FNV), which has a 3% net smelter return royalty, to shore up its finances.

In the Alamos deal, Argonaut’s other assets such as the Florida Canyon mine in the United States, as well as the El Castillo Complex, the La Colorada operation, and the Cerro del Gallo project in Mexico, are to be placed in a separate company, at least for the moment known as Spin Co. The plan is to list Spin Co. on an exchange and Alamos would invest $10 million for a 19.9% stake.

Alamos plans to issue 20.3 million shares valued at about $276 million as part of the deal. The acquisition valued Argonaut at a 34% premium based on Argonaut’s and Alamos’ closing prices on Tuesday on the TSX. Each Argonaut common share outstanding will be exchanged for 0.0185 Alamos common shares and one share of Spin Co. It will give Alamos 95% of the combination and Argonaut 5%.

The deal implies an estimated total consideration of $0.40 per Argonaut common share or $325 million, the companies said.

The company’s resource now stands at more than 5 million oz. and there are plans to hike production to 900,000 oz. a year by expanding and tweaking Magino’s mill with feed from Magino and Island, the CEO said.

“We had some pretty tough critics from our side go up and look at the mill and they really liked what they saw,” McCluskey said. “That permanent tailings facility at 150 million tonnes, it’s hard to put a price on that. If you were settled on the path to permitting a facility like that today that could take up to a decade. With an ever growing mine and mineral reserve at Island Gold, that’s a big de-risking event for us.”

Lundin Gold (TSX: LUG) updated its estimates of reserves and resources for its Fruta del Norte (FDN) gold mine in Ecuador. Proven and probable reserves contain 4.5 million oz. of gold in 21.7 million tonnes of ore with an average grade of 7.89 g/t gold.

The measured and indicated resources contain 7.0 million oz. in 23.5 million tonnes averaging 9.24 g/t gold.

“With this updated estimate, Lundin Gold has grown FDN’s mineral reserves since operations began in 2019, adding approximately 2.6 million oz. before mining depletion,” said Lundin Gold president and CEO Ron Hochstein.

“Our 2023 conversion drilling program has enabled us to grow our measured and indicated resources, and the near-mine program has also provided additions to our inferred resources. Based on planned conversion and exploration programs for 2024, I am very excited for the potential to add more ounces over the coming year.”

Much of the reason the M+I resources grew was due to reclassifying inferred material to indicated in areas immediately beyond the current reserve boundary. The new indicated areas include extensions to the north, at depth, and to the south of the FDN deposit.

A total of 350,000 oz. of gold was added to the inferred material as a result of conversion and near-mine drilling completed in 2023.

The inferred resource contains 1.5 million oz. of gold in 8.0 million tonnes with a grade of 5.77 g/t gold.

Lundin Gold produced 281,273 oz. from the Fruta del Norte mine in 2023. The all-in sustaining cost per ounce of gold sold was $860.

Epiroc is strengthening the focus on its tools and attachments businesses. The company will split the division into two divisions and appoint a new division president. 

In recent years, the Tools & Attachments division has expanded significantly through organic and inorganic growth and will become significantly larger after the completion of the acquisition of Stanley Infrastructure. To sustain optimal focus on each business line and continue fostering profitable growth, Epiroc will split the Tools & Attachments division into these two new divisions: the Rock Drilling Tools division and the Mining & Infrastructure Attachments division. 

Martin Hjerpe, currently SVP M&A, strategy, and supply chain, will become president of the Tools division. Goran Popovski, currently president of the Tools & Attachments division, will become president of the Attachments division. 

“With past growth and now the ongoing acquisition of Stanley Infrastructure – our largest acquisition ever – our tools and attachments business is expanding significantly,” says Helena Hedblom, Epiroc’s president and CEO. “By dividing up the business into two dedicated divisions, we are optimizing the focus for all the business lines and supporting sustainable, profitable growth.” 

Epiroc’s Tools division will offer top hammer and handheld drills; down-the-hole, rotary and raise boring drills; ground support; and supply chain expertise.

The Attachments division will offer ground engaging tools (CR); hydraulic attachment tools; and Stanley Infrastructure units.

The river waters near some of the Democratic Republic of Congo’s largest copper and cobalt mines are toxic, according to a recent report by RAID and DRC-based African Resources Watch.

The UK corporate watchdog found that residents in the visited communities expressed concerns about the harmful effects of toxic contamination on their health and the destructive consequences on local ecosystems and agriculture.

Residents reported a scarcity of clean water for drinking and personal hygiene, forcing them to use contaminated water for their daily needs. Of those interviewed, 56% stated that the pollution was impacting the gynecological and reproductive health of women and girls, leading to issues such as irregular menstruation, urogenital infections, more frequent miscarriages, and, in some cases, birth defects.

Locals reported frequent skin diseases and expressed particular concern for the health of their children.

Nearly all respondents (99%) reported significant reductions in crop and field yields due to water contamination, resulting in substantial economic hardships. Additionally, 59% indicated reducing their food intake to one meal a day, 59% had to withdraw their children from school due to financial constraints, and 75% stated they could no longer afford healthcare or medicine.

“The world needs Congo’s cobalt to hit net zero targets, but the energy transition is not benefitting hundreds of thousands of Congolese people living in the shadow of the big industrial cobalt mines,” Emmanuel Umpula, executive director at African Resources Watch, said in a statement.

Anneke Van Woudenberg, executive director of RAID, emphasized the importance of ensuring clean cobalt sourcing and holding mining companies accountable for environmental damages. She urged electric vehicle companies to demand responsible practices from their cobalt suppliers.

Congo’s miners use vast amounts of acid to process ore into copper and cobalt. Under the country’s mining law, companies are supposed to prevent toxic wastewater from contaminating groundwater or local waterways.

The country overtook Peru to become the second-largest copper producer in 2023 and provides about 70% of the world’s cobalt.

Mining companies such as Glencore Plc, Eurasian Resources Group (ERG), Zijin Mining Group and CMOC Group acknowledged the historic pollution from older mines and other activities contributing to the water contamination. They highlighted measures taken to mitigate pollution risks, including monitoring water quality and implementing preventive measures.

Glencore wrote that it monitors water quality at its operations in line with both Congolese regulations and international best practices.

CMOC said it’s committed to complying with environmental laws, and that the company regularly monitors surface water, groundwater and drinking water.

ERG said its operation doesn’t discharge into rivers, while its monitoring shows no pollution. Zijin, in its response to questions from researchers, said it regularly tests water quality and has implemented measures to prevent seepage of acid and alkali wastewater from its operations.

Magna Mining (TSXV: NICU) has signed an offtake agreement with Vale‘s (NYSE: VALE) base metals unit for the advanced exploration portion of its Crean Hill project in Ontario.

Located in the Sudbury Basin nickel district, Crean Hill hosts a past producing mine that was a significant producer under former owner Vale for over 80 years.

The project has a 2022 resource that will be updated in the second quarter of this year, the company said, adding that it needs to develop a ramp to access the deposit for mine testing and to make a production decision.

Magna recently filed an amended closure plan for the project and says it’s on track to have all permits needed to build the ramp.

Under the definitive offtake deal with Vale, initial production from Crean Hill would be shipped to Vale’s Clarabelle mill in Sudbury for processing. This includes material from the Main, Intermediate, 9400, Footwall and 101 Footwall zones. The 109 Footwall zone is excluded from the agreement and is planned to be processed through an alternative mill.

Offtake terms weren’t released.

Prior to negotiating the agreement, Magna completed an extensive test program at a third-party metallurgical facility using representative ore samples from the Crean Hill deposit. The results were used to develop recovery predictions at varying ore feed grades and produced a high concentrate grade consistent with the Clarabelle mill flowsheet.

The predicted mill recovery from the test work was calculated at 80.5% nickel, 93.6% copper, and approximately 70% for cobalt, platinum, palladium and gold. These recoveries, according to Magna, were established using its estimates of potentially mineable grades for advanced exploration.

Magna said it is currently exploring several non-equity sources of capital, which may include government funding or byproduct streams, to fund underground advanced exploration at Crean Hill. As of now, it is fully funded for a 25,000-metre exploration drilling program both at Crean Hill and its Shakespeare project.

The advanced exploration grades used for the offtake negotiation were based on the August 2022 estimate, which showed 16.8 million open pittable indicated tonnes grading 1.08% nickel-equivalent and 14.5 million underground indicated tonnes grading 2.07% nickel equivalent. Contained metals were calculated at over 500 million lb. of nickel, 450 million lb. of copper and 1.7 million oz. of platinum-palladium-gold.

Assay results from more than 19,000 metres of diamond drilling completed at Crean Hill since the resource estimate were excluded.

As a brownfield site, it is currently subject to an existing closure plan filed by Vale, which has retained surface rights to the property since closing the mine in 2002. Magna acquired the project during its takeover of Lonmin Canada, who was responsible for much of the exploration at Crean Hill between 2003-2022.

During its active years, it produced 20.3 million tonnes of ore grading 1.3% nickel, 1.1% copper and 1.6 grams combined platinum-palladium-gold per tonne.

In the hardscrabble world of mining, where data is king and machinery reigns supreme, first-time author Catherine Lalut wields not a drill but a quill with the children’s book The Mine That Fell Asleep in the Goldfields.

The story unfolds in the red dust of Kalgoorlie, Western Australia. It challenges the heavy, ore-laden status quo with the light-footed adventures of Cat, Nancy, Ty, and an Egyptian magical cat that could make even the Sphinx purr with curiosity.

“In the world of mining, the next big discovery is always just one story away,” Lalut, who started in mining as an engineer in Chile, told The Northern Miner in a phone interview from Perth. “Beneath the surface of our industry’s rugged exterior lies a rich vein of stories waiting to be told.”

Lalut’s innovative approach to inclusion, diversity and the significance of mining reflects a growing trend in educational literature, aiming to inspire the next generation of scientists, engineers, and environmentalists. Sagging enrolment is alarming the industry.

The Chilean-Australian says she didn’t jump from mining engineer to children’s author quickly but that the journey was enriching.

The book merges adventure with themes such as female empowerment, environmental stewardship and STEM education, a teaching approach that combines science, technology, engineering and math.

Lalut leverages her narrative like a drill bit, boring through the strata of societal norms to uncover gems that trailblazed her own journey through the traditionally male-dominated industry. The author led Women in Mining & Engineering WA.

The story follows the friends on a quest to awaken an ancient guardian believed to be the key to their town’s survival. Through their journey, Lalut weaves critical messages that challenge gender stereotypes and highlight the importance of preserving our natural surroundings.

“The narrative ventures into the depths of the earth and the human spirit,” she said. “Much like a cartographer charts undiscovered territories, I’m inviting young readers to explore the uncharted terrains of mining, environmental respect, and self-empowerment.”

Lalut’s plans to translate the book into Spanish are not simply a nod to her Chilean roots but a global blast signal, expanding her message to the broader Spanish-speaking mining community.

Self-published and available on Amazon, The Mine That Fell Asleep in the Goldfields targets young readers while resonating with adults, especially within the mining community.

The Canadian Mining Hall of Fame has opened its call for nominations for the 2025 Induction season. Each year, the Canadian Mining Hall of Fame seeks remarkable individuals for induction into its ranks during the annual induction celebration.

These nominees are distinguished by their leadership and achievements, having made significant contributions to Canada’s prominence in the global mining industry. They embody the vital role of mining within Canadian society and served as inspirations for future generations in the field.

“The Canadian mining industry is at the forefront of the global energy transition, poised to deliver the supply of essential minerals and metals for the future,” Janice Zinck, Chair of the Canadian Mining Hall said in a media statement.

“This transformative moment capitalizes on our industry’s rich legacy of achievements. With pride, the Canadian Mining Hall of Fame commemorates the visionary leadership that has molded our mining sector into the formidable force it represents today,” Zinck said.  

Nominations must be submitted through recognized member organizations or associate member organizations of the Canadian Mining Hall of Fame. These include the Canadian Institute of Mining, Metallurgy and Petroleum; Mining Association of Canada; The Northern Miner; The Prospectors and Developers Association of Canada; The Mining Associations of British Columbia, Ontario, Quebec, and Saskatchewan, as well as the Association for Mineral Exploration.

Any organization or member of the public is encouraged to nominate a candidate, provided the nomination is routed through one of these organizations.

The nomination deadlines for 2025 are as follows:

• May 1, 2024: Deadline to approach a member or associate member organization regarding a nomination for induction.
• May 31, 2024: Deadline for submission of nomination materials to a member or associate member organization for review.

Nomination packages must adhere to the outlined criteria and should not exceed six pages in addition to the Nominator Letter (maximum two pages). Each nomination must be supported by a minimum of five and a maximum of ten letters of endorsement.

The nomination guidelines, selection criteria, and nomination form are here.

Eldorado Gold (TSX: ELD; NYSE: EGO) expects its production profile to swell about 45% over the next four years to 703,250 oz. gold per year, CEO George Burns says.

The company comes off a solid 2023 operating performance, producing 7% more gold year-on-year at 485,000 oz. of metal at an all-in sustaining cost of about $1,200 per ounce. With the Skouries build in Greece having passed the 70%-completion mark, Burns tells The Northern Miner that increasing production is the vehicle for enhancing shareholder value.

“Bringing Skouries online not only lowers our cost, brings on some high-quality production (including copper in the EU), it positions us to generate a lot of free cash flow and return value via dividends,” Burns told The Northern Miner’s western editor, Henry Lazenby, during the recent Prospectors and Developers Association of Canada convention in Toronto.

Watch the full interview below.

Canada’s Minister of Energy and Natural Resources Jonathan Wilkinson announced on Tuesday a C$714,500 ($526,200) investment in Fortune Minerals (TSX:FT) for the production of cobalt sulphate and bismuth ingot products from the company’s planned mine in the Northwest Territories and refinery in Alberta.

A pilot-scale hydrometallurgical program will be designed to optimize processing conditions while ensuring that residues from the process are stable for safe disposal, Natural Resources Canada said in a news release, adding that the project will create job opportunities for skilled trades and professional occupations, including Indigenous communities, and introduce a new sustainable technology to other Canadian companies.

The investment aims to help Canada participate directly in the growing market of battery-grade cobalt and other concentrates instead of shipping concentrates overseas for value-added processing.

Funding for this project comes from the Critical Minerals Research, Development and Demonstration (CMRDD) program. The CMRDD aims to advance the commercial readiness of emerging mineral processing unit operations and technologies that will support the development of zero-emission vehicle value chains in Canada by providing raw material inputs for use in batteries and permanent magnets.   

“Today’s investment of C$714,500 for Fortune Minerals will help to advance the development of dynamic and competitive critical minerals value chains through an innovative new processing technology, Jonathan Wilkinson, Minister of Energy and Natural Resources, said in the statement.

“This means good jobs for workers, more investment in Canadian innovation and lower emissions across the country.”

EarthLabs Inc. (TSXV: SPOT; OTCQX: SPOFF; FSE: 8EK0) announced on Tuesday the listing of the company’s common shares on the Frankfurt Stock Exchange under the trading symbol “8EK0”.

EarthLabs owns CEO.CA, the largest social media platform for mining investors, with more than 12 million unique viewers since inception, and DigiGeoData, a mineral resource database and mapping tool providing geological, claim, drilling, and other contextual information. Earthlabs’ precious metals royalty portfolio encompasses nearly 2,500 sq. km of prospective ground in Newfoundland.

Last December, EarthLabs announced the acquisition of The Northern Miner Group. The Northern Miner Group’s three media brands; The Northern Miner, MINING.COM, and Canadian Mining Journal, combined, reach over 1 million users monthly.

“At EarthLabs, we understand the complexities of today’s resource landscape. Positioned between ETFs and direct investments, we offer a strategic pathway to leverage the resource boom with smart, sustainable capital,” EarthLabs CEO Denis Laviolette said in a news release.

“Our investments and royalty portfolio, complemented by our cutting-edge suite of data-driven media SaaS tools, underscore our commitment to educate and engage investors,” Laviolette said. “We believe that by empowering our partners and clients with the most advanced technologies and insights, we can unlock unprecedented value and drive a new era of growth within the sector.”

Kodal Minerals (LSE: KOD) announced on Tuesday that its Bougouni lithium project in southern Mali remains on track to commence production in the fourth quarter.

The miner reported significant progress on the project, with all funds from the $117.75 million funding transaction with Hainan Mining received, and the mining contractor scheduled to mobilize this month.

“This month we also signed contracts for the supply of the crushing circuit and DMS modules from experienced suppliers in China, and expect these long lead items will be available on site in time to maintain our expectation of first production in Q4 2024,” Kodal Minerals CEO Bernard Aylward said.

According to the company, the Bougouni Stage 1 dense media separation (DMS) circuit is fully financed, with all necessary permits in place, including environmental and social permits, and Kodal’s community development plan recently approved by Mali’s Environment Ministry.

Additionally, an updated Environmental and Social Impact Assessment (ESIA) for the project has been approved, and negotiations with local communities on land compensation are reportedly progressing well.

Located 170km south of the capital, Bamako, Kodal’s Bougouni project is situated in an area hosting several established mining operations, including Hummingbird’s Yanfolila mine and B2Gold’s Fekola Mine.

Kodal is in competition with Australia’s Leo Lithium (ASX: LLL) to develop Mali’s first lithium mine. Kodal received its license in late 2021, while Leo Lithium, now backed by China’s Ganfeng Lithium, was awarded the right to develop the Goulamina asset in August 2019.

Shares of Kodal Minerals fell 8.5% by 12:10 p.m. EDT. The lithium developer has a market capitalization of $129 million.

Kenorland Minerals (TSXV: KLD) announced on Tuesday it was approved for a C$300,000 grant from the Manitoba Mineral Development Fund (MMDF) to support exploration activities at the South Thompson project.

The project, whose name is derived from its location, being 200 km south of the town of Thompson, covers more than 3,077 sq. km. of land. The licensed areas form the southern extension of Manitoba’s Thompson nickel belt, one of the world’s leading nickel-producing regions.

The prospective belt rocks are covered by Phanerozoic carbonate cover rocks at the project. According to Kenorland, the regular periodicity and spacing of major nickel sulphide deposits throughout the exposed portions of the belt to the north highlight the potential for discovery.

For over two decades, South Thompson has seen no meaningful project-scale exploration, and historically, only three exploration campaigns have ever been carried out on the property.

The most significant campaign was by Falconbridge, which completed geophysical and drilling exploration between 1991-2002. Amax and Cominco conducted the other major geophysical and drill programs between the 1960s and early 1970s.

A total of 337 drill holes have been historically completed at South Thompson. The combination of large gaps in drilling and lack of modern geophysical techniques over the project area represent significant opportunity for a nickel sulphide discovery.

The historical work already resulted in discovery of the adjacent Minago deposit, held by Flying Nickel (TSXV: FLYN), which has 722 million lb. of measured and indicated nickel resource plus 319 million lb. of inferred nickel.

The new funding from the government of Manitoba will be used to support a large-scale aerial electromagnetic (VTEM) survey to identify potential drill targets beneath the extensive cover rocks at South Thompson. The VTEM survey is currently underway, the company said.

Gold producer Mako Mining (TSXV: MKO) is expanding into South America with the proposed acquisition of Goldsource Mines (TSXV: GXS) and its flagship asset, the Eagle Mountain gold project in Guyana.

An agreement was struck on Tuesday for Mako Mining to acquire Goldsource in an all-stock deal, with Goldsource shareholders receiving 0.22 of a Mako common stock for each share held. By company calculations, this consideration equates to an upfront premium of roughly 41% based on spot prices.

At presstime (9:30 a.m. ET), Mako’s shares traded down 1.1% at C$2.53 apiece for a market capitalization of C$166.5 million. Goldsource Mines was flat at C$0.395, with a market capitalization of C$23.6 million.

Upon completion, Mako will own approximately 84% of the combined company, which will continue to be listed as a Tier 1 mining issuer on the TSX Venture Exchange. Existing Goldsource shareholders will hold the remaining 16% interest.

Both parties anticipate the deal to be completed in the second quarter of 2024. 

This acquisition, says Mako, creates a “clear path to over 100,000 ounces per year of gold production with a demonstrated record of fiscal discipline.”

It currently operates the high-grade San Albino gold mine in Nicaragua, which last year recovered 34,982 ounces of the metal, including a record 11,567 ounces from the fourth quarter. The mine entered production in the second quarter of 2021.

The Eagle Mountain project adds another high-quality gold asset in a mining friendly jurisdiction to Mako’s portfolio.

A January 2024 preliminary economic assessment outlined a potential 15-year mine operation, with a phased development plan and resources of 1.18 million oz. in the indicated category. The project has an estimated after-tax net present value (discounted at 5%) of $292 million and an internal rate of return of 57%.

“The scalability of Goldsource’s Eagle Mountain is a direct analogue to that of Mako’s San Albino mine,” Mako CEO Akiba Leisman said in a news release. “Both properties have district-scale potential, with the ability to unlock that potential through cash flow.”

He also noted that the teams at Mako and Goldsource have worked together as colleagues going back nearly two decades, which makes the integration seamless.

“This team has a solid track record and many decades of experience building mines, which is a unique offering for a junior gold producer and one that we believe is a great fit for our phased development plans at Eagle Mountain,” Goldsource executive chairman Eric Fier added.

To fund near-term activities at Eagle Mountain until the closing of transaction, Wexford, Mako’s largest shareholder, has provided Goldsource with a bridge loan of C$2 million.

A recent paper in the journal Science Advances sheds new light on how concentrations of metals used in renewable energy technologies can be transported from deep within the earth’s interior mantle by low-temperature, carbon-rich melts.

The article details how an international team led by Isra Ezad, a postdoctoral research fellow at Australia’s Macquarie University, carried out high-pressure and high-temperature experiments creating small amounts of molten carbonate material at conditions similar to those around 90 kilometres depth in the mantle, below the earth’s crust.

Their experiments showed carbonate melts can dissolve and carry a range of critical metals and compounds from surrounding rocks in the mantle—new information that may inform future metal prospecting.

“We knew that carbonate melts carried rare earth elements, but this research goes further,” Ezad said in a media statement. “We show this molten rock containing carbon takes up sulphur in its oxidized form, while also dissolving precious and base metals—‘green’ metals of the future—extracted from the mantle.”

Most of the rock that lies deep in the planet’s crust and below in the mantle is silicate in composition, like the lava that comes out of volcanoes.

However, a fraction of a percent of these deep rocks contain small amounts of carbon and water that cause them to melt at lower temperatures than other portions of the mantle.

These carbonate melts effectively dissolve and transport base metals like nickel, copper and cobalt; precious metals, including gold and silver, and oxidized sulphur, distilling these metals into potential deposits.

“Our findings suggest carbonate melts enriched in sulphur may be more widespread than previously thought, and can play an important role in concentrating metal deposits,” Ezad said.

To run their experiments, the researchers used two natural mantle compositions: a mica pyroxenite from western Uganda and a fertile spinel lherzolite from Cameroon.

Ezad explained that thicker continental crust regions tend to form in older inland regions of continents, where they can act as a sponge, sucking up carbon and water.

“Carbon-sulphur melts appear to dissolve and concentrate these metals within discrete mantle regions, moving them into shallower crustal depths, where dynamic chemical processes can lead to ore deposit formation,” the scientist pointed out.

In her view, this study indicates that tracking carbonate melts could give us a better understanding of large-scale metal redistribution and ore formation processes over earth’s history.

“As the world transitions away from fossil fuels to battery, wind and solar technologies, demand for these essential metals is skyrocketing, and it’s becoming harder to find reliable sources,” Ezad said. “These new data provide us with a mineral exploration space previously not considered for base and precious metals—deposits from carbonate melts.”