Industry News

Province derails ONR acquisition bid The Ontario government is shooting down a joint venture acquisition proposal being floated by Mushkegowuk Council and a Toronto rail provider that the rail arm of the Ontario Northland Transportation Commission (ONTC) is available for sale. By: Northern Ontario Business staffThe Ontario government is shooting down a joint venture acquisition proposal being floated by Mushkegowuk Council and a Toronto rail provider that the rail arm of the Ontario Northland Transportation Commission (ONTC) is available for sale.Northern Development and Mines Minister Michael Gravelle re...
Sault EDC purchases ski resortPlans are in the works to turn Sault Ste. Marie’s Searchmont ski resort into a four-season tourism destination. (PHOTO SUPPLIED) By: Northern Ontario Business staffThe Economic Development Corp. (EDC) in Sault Ste. Marie has purchased Searchmont Resort, with an aim of evolving the skiing facility into a four-season tourism destination.The EDC said the Dec. 30 purchase, from the Searchmont Ski Association Inc. (SSAI), was required to ensure long-term sustain...
Tamaka ups the grams at northwest gold project By: Northern Ontario Business staffTamaka Gold has produced new numbers for its gold deposit in northwestern Ontario.The Toronto-based junior is evaluating its Goldlund Project as a potential open pit mine.The new estimate is 1,274,000 measured and indicated ounces at 1.97 grams per tonne and 2,760,000 inferred ounces at 2.12 grams ...
Sudbury PGM explorer hunting for partner By: Northern Ontario Business staffPacific North West Capital is building a case in its search to find a partner to develop a PGM deposit in northeastern Ontario.The Vancouver-based explorer announced Jan. 22 that SFA Oxford, a precious metals researcher, has completed an independent assessment of its River Valley PGM Project, 60 ki...
Goldcorp chair shares lessons with Sudbury audienceIan Telfer, chair of the Goldcorp board of directors, spoke of the top 10 mistakes he’s made over a long career in Canada’s resource industry during a Jan. 16 talk at Laurentian University in Sudbury. (PHOTO SUPPLIED) By: Lindsay KellyWhile dishing out advice on how to avoid mistakes through a successful career in mining, Ian Telfer elicited startled silence from his audience with this tidbit: don’t listen too much to your shareholders.“I know all you shareholders in Goldcorp love to hear that,” chuckled Telfer, chair of the...
Agnico Eagle to sell Probe shares to Goldcorp By: Northern Ontario Business staffAgnico Eagle Mines has agreed to sell its shares of Probe Mines to Goldcorp, which announced its intended acquisition of the company on Jan. 19.Under the agreement, Goldcorp will purchase 7,320,200 common shares of Probe and 2,347,951 warrants for a total value of $43 million. The deal is expect...
Richmont Mines increases financing for mine expansion Richmont Mines is increasing the amount of its previously announced bought deal financing from $30 million to $34 million as it works to accelerate the expansion of its Island Gold Mine in northeastern Ontario. By: Northern Ontario Business staffRichmont Mines is increasing the amount of its previously announced bought deal financing from $30 million to $34 million as it works to accelerate the expansion of its Island Gold Mine in northeastern Ontario.Company president-CEO Renaud Adams said 2015 will be a “transformational year” for the Mo...
Kirkland Lake Gold gets good grades Kirkland Lake Gold believes there are more ounces to be had deep within its South Mine Complex (SMC). By: Northern Ontario Business staffKirkland Lake Gold believes there are more ounces to be had deep within its South Mine Complex (SMC).The northeastern Ontario mid-tier producer released the results of an underground program currently underway on its South Claim properties purchased from Queenston Mining.One drill hole result yield...



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