Latest news with #Tanco
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
Mines hit with production stoppages, reductions in face of wildfires
Production and exploration at some Manitoba mines has ground to a halt as staff evacuate and wildfires rage. Hudbay Minerals paused operations at its gold and zinc mine at Snow Lake, it told investors on Wednesday. The underground mine has a daily mill capacity of 5,300 tonnes. Most employees have left the area; the Town of Snow Lake was issued a precautionary evacuation notice on Tuesday. Essential Hudbay staff have remained to assist with emergency activities, the company said, adding the workers have been authorized by emergency services. WAYNE GLOWACKI/WINNIPEG FREE PRESS FILES Some mining sites in the Snow Lake area have evacuated workers because of raging wildfires. '(Hudbay) believes its infrastructure and facilities in Snow Lake and Flin Flon are well-protected from the wildfires and have a low risk of being damaged,' a note to investors reads. It had reduced production levels as fires spread near Flin Flon. Hudbay sites have natural fire barriers, a spokeswoman said without elaborating. Hudbay said it's tabbed $1 million in direct financial support for its employees forced to evacuate. The money is meant to cover costs incurred as staff find places to live. Hudbay has also deployed firefighters and is creating a community relief donation fund where it'll double the amount donated by its staff; the company has other mines in British Columbia and Peru. It doesn't expect the stoppage to have any material impact on its annual production targets, spokeswoman Sara Pearson wrote in a statement. Meanwhile, Alamos Gold told the Northern Miner it's paused operations at its Lynn Lake gold project. The Toronto-based company broke ground on the mine in March. The Town of Lynn Lake was given evacuation orders on May 27. The Tanco mine, one of Canada's two lithium mines, was temporarily shuttered last month. It resides near the Whiteshell Provincial Park; most of its employees live in Lac du Bonnet and Pinawa. Neither Alamos Gold nor the Sinomine Resource Group, who owns the Tanco mine, were available for comment by print deadline. Canadian Gold Corp. has suspended exploration of its gold mine project near Tartan Lake, which is close to a wildfire threatening Flin Flon. Roughly 10 people — a drill crew, geologists and assistants — have been transported to Winnipeg, Swan River and Saskatchewan, Canadian Gold's president said. The company has been drilling in the area since 2021. There's a bridge to access its site and a machine shop used for geological work. Company president Michael Swistun doesn't know whether the infrastructure remains. Fires appeared to be close by, he said. 'As unfortunate as it is to have a loss, it can always be replaced,' he added. 'Nothing is more paramount than life. The fact (that) everybody has got out safely and is safe and sound is really the priority.' Swistun expressed gratitude to firefighters and the province of Manitoba for their efforts. In Bissett, junior explorer 1911 Gold has halted operations of its True North complex. The site includes a 1,300 tonnes per day processing plant and a gold deposit. Monday Mornings The latest local business news and a lookahead to the coming week. All 1911 Gold personnel have been safely relocated, the company said in a news release. True North camp facilities were open to front-line responders; an evacuation order came down on Bissett last week. Callinex Mines, which has a project near Flin Flon, hasn't been affected by current wildfires. However, it was severely impacted by fire last year, the company said. Staff are working on a Newfoundland site. 'Our hearts and thoughts and prayers are with everyone that are actively fighting the fires right now,' said John Morris, co-director of the Mining Association of Manitoba Inc. Not all mines have been affected by fires and evacuations, he added: 'We're just hoping for rain and hoping that the situation can be under control as soon as possible.' Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Yahoo
24-03-2025
- Business
- Yahoo
Power Metals' CEO on the caesium mining opportunity at Case Lake
Canada-based Power Metals is working to develop the Case Lake project in north-eastern Ontario, close to the border with Quebec. The project, which could enter production in the second half of 2026, is positioning itself to become the world's fourth major caesium mine. During PDAC 2025, Mining Technology spoke with Power Metals CEO Haydn Daxter about the caesium market and the next steps for the Case Lake project. Caesium is listed as a critical mineral by both the US and Canada. It is used primarily (70%) as a low-viscosity fluid to help control well pressures and reduce friction during high-temperature well drilling for oil and gas exploration. Caesium also has applications in atomic clocks, solar and battery technology, catalysis and medicine. 'We know that 3,000 tonnes of [caesium] concentrate is the annual consumption, which is not a great deal, but currently, there is no mine that is producing any consistent tonnage,' says Daxter. To date, only three high-grade caesium mines have operated globally: Bitika in Zimbabwe, Sinclair in Western Australia and Tanco in Manitoba, Canda. China has had a 'foothold' in all of these through state-owned operator Sinomine. The US Geological Survey reported 'intermittent' caesium production and processing from mined ore and stockpiles at the Tanco mine in 2024, along with some estimated mine production in China. 'Previously, the US, Canada [and] Australia were all buying their caesium from the Chinese market,' adds Daxter. However, he notes geopolitical tension as well as the tariff war between the US and Canada and Mexico is making it challenging. The latest drilling results from Power Metals' Case Lake project, announced in February, indicate that the project hosts high-grade deposits of caesium, tantalum and lithium (spodumene). 'Last year, we completed over 8,000m of exploration drilling… and we are currently working on a maiden mineral resource that will be out by the end of the first quarter [Q1],' Daxter says. Power Metals is also working on a preliminary economic assessment (PEA) for Case Lake, which is due out in Q2. Further exploration drilling is also scheduled for later this year. Winsome Resources owns a 19.6% stake in Power Metals, as well as the offtake rights for lithium, cesium and tantalum from the company's Case Lake project. Video recorded at PDAC 2025 on 5 March. "Power Metals' CEO on the caesium mining opportunity at Case Lake" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
25-02-2025
- Business
- Associated Press
Grid Metals Corp. Announces Commencement of Cesium Drilling at Donner and Participation at PDAC Convention
TORONTO, ON / ACCESSWIRE / February 25, 2025 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ('Grid' or the 'Company') is pleased to announce the start of the cesium drill program at the High-Grade Dyke at the Donner lithium/cesium property in southeastern Manitoba. Grid has also received the initial prepayment advance of CAD$300,000 from Tanco as a part of the cesium supply agreement to fund the ongoing drill program (see 'Grid Metals Corp. Signs Cesium Agreement with Tanco' press release from February 18, 2025 for more information). In addition, Grid would like to cordially invite its shareholders and other stakeholders to visit us at Booth #2122 in the Investors Exchange Exhibition Room at the Prospectors and Developers Association of Canada (PDAC) Convention. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, March 2, 2025 until Wednesday, March 5, 2025 at the Metro Toronto Convention Centre in Ontario, Canada. To register for the PDAC Convention visit here: We look forward to seeing you there. On Behalf of the Board of Grid Metals Corp. For more information about the Company, please see the Company website at or contact: Brandon Smith - Chief Development Officer - [email protected] David Black - Investor Relations Email: [email protected] Qualified Persons Statements Dr. Dave Peck, the VP Exploration of Grid, is the Qualified Person for purposes of National Instrument 43-101 and has reviewed and approved the technical content of this release. About Grid Metals Corp. Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the Bird River area. The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ('Teck'). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt. The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. Grid owns 100% of the Mayville Property subject to a minority interest. The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. Grid announced a cesium purchase agreement with Tanco on February 18, 2025. The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium values in a number of historical drill holes including 3.3 m at 10.3% Cs2O and 3.2 m at 4.6% Cs2O. All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement. We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, 'forward-looking statements'). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Yahoo
18-02-2025
- Business
- Yahoo
Grid Metals Corp. Signs Cesium Agreement with Tanco
TORONTO, ONTARIO / / February 18, 2025 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to announce it has signed a cesium supply agreement (the "Agreement") with the Tantalum Mining Corporation of Canada Limited ("Tanco"). The Agreement provides funding for Grid to drill for cesium at its Donner Property. If sufficient resources are delineated by drilling, the Agreement provides access for 10,000 tonnes of Grid's cesium material to be processed at the Tanco Cesium Plant which is the only cesium processing plant in the western world. The Agreement is a unique opportunity for Grid to kick start exploration and potentially development for cesium - a rare critical metals. The drill target at Donner is the High Grade ("HG") Dyke which is a highly fractionated pegmatite dyke with documented high grade cesium values in the mineral pollucite. The HG Dyke is located approximately 35 km from the Tanco Cesium plant at Bernic Lake. Key Terms of the Grid Metals / Tanco Agreement An initial prepayment advance of CAD$300,000 will be provided by Tanco to Grid for drilling at Donner. If drilling is deemed successful (by the parties), a follow up prepayment advance of CAD$900,000 will be provided by Tanco to Grid for project development activities. In exchange, Tanco will have the right to purchase 10,000 tonnes of cesium-bearing material from Grid at a predetermined price. Pricing for cesium material grading at least 5% Cs2O will be US$1,500 per tonne (set price of US$300/t per 1% Cs2O) with deductions applied for transport The prepayment advances are repayable from the proceeds of future cesium or lithium sales to Tanco. Benefits of Agreement to Grid Shareholders Collaborative agreement providing capital and technical processing expertise for one of the world's rarest critical metals. Immediate funding for first phase cesium drill program at Donner Committed development capital for resource development/permitting Access to Tanco technical expertise and toll milling access at favourable terms Potential for the Agreement to generate near-term cash flow Opportunity to leverage other cesium occurrences in Grid's property portfolio, particularly Falcon West Robin Dunbar, Grid's CEO & President, stated, "Consistent with our focus on our Bird River property portfolio and partnering with industry leaders, we are excited to announce this agreement with Tanco, the world's leading producer of cesium products. This agreement provides the foundation to kickstart cesium exploration with the objective of near-term cash flow generation through toll milling. Our proximity to the only cesium operation in the western world is a unique feature of the Tanco collaboration. We note that we have a second cesium property (Falcon West) where we have obtained significant cesium results in drilling including 3.3 m at 10.3% Cs2O and 3.2 m at 4.6% Cs2O." Dr. Dave Peck, P. Geo., Grid's Vice President of Exploration, stated "The high-value and geological scarcity of primary cesium ores combined with the known surface exposure of pollucite at the HG Dyke provides strong motivation for the proposed exploration drilling. The partnership agreement with Tanco gives Grid direct access to the world's principal cesium processing plant - eliminating most of the technical risk for future cesium development project(s). The focus of the drill programs at Donner and eventually Falcon West will be to adequately characterize the potential for meaningful tonnages of near surface pollucite-dominant, high-grade cesium mineralization." Figure 1: Map of the Grid's projects in southeastern Manitoba Figure 2: Aerial view of Tanco mine site, including cesium chemical plant High-Grade Dyke Overview The High-Grade Dyke is located on the Donner lithium/cesium property, approximately 35 km from the Tanco Mine site. The dyke has seen limited exploration with drilling completed in the 1980's for tantalum. The HG Dyke contains the rare cesium mineral, pollucite - the preferred feedstock for the nearby Tanco cesium plant. Pollucite is only formed in the most fractionated LCT-type pegmatite bodies and is only known from a very small number of localities. A select composite surface grab sample from the High-Grade Dyke taken in 2024 returned 17.5% Cs2O associated with coarse-grained pollucite. The Company plans closely spaced drilling over a ~200 m strike length to test for any continuity of pollucite to a vertical extent of 30-50 m. By nature of its extremely fractionated nature, the HG Dyke has been the subject of multiple academic studies by world-renowned pegmatite researchers. Figure 3: Map of the Donner project with location of HG Dyke Cesium Overview Cesium is a rare earth metal that is defined as a critical mineral by the US and Canadian governments. The largest application of cesium is as cesium formate for drilling fluids, but it is also used in atomic clocks, photoelectric cells, glass production, vacuum tubes, and radiation monitoring equipment amongst other uses. Next generation solar panels (Perovskite solar cells) can use cesium to improve their efficiency, stability, and thermal properties. Only 3 mines globally have ever produced cesium including Tanco in Manitoba (producing), Bikita in Zimbabwe (producing) and Sinclair in Western Australia (formerly producing). The price of cesium carbonate on the Shanghai Metals Market (SMM) is currently US$120,000/t. Qualified Persons Statements Dr. Dave Peck, is the VP Exploration of Grid and is the Qualified Person for purposes of National Instrument 43-101 and has reviewed and approved the technical content of this release. About Grid Metals Corp. Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the Bird River area. The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ("Teck"). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt. The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. Grid owns 100% of the Mayville Property subject to a minority interest. The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. Grid expects to commence a cesium focused drill program in the next few weeks. The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium values in a number of historical drill holes including 3.3 m at 10.3% Cs2O and 3.2 m at 4.6% Cs2O. All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement. On Behalf of the Board of Grid Metals Corp. For more information about the Company, please see the Company website at or contact:Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@ Smith - Chief Development Officer - bsmith@ Black - Investor Relations Email: info@ We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. SOURCE: Grid Metals Corp. View the original press release on ACCESS Newswire Sign in to access your portfolio
