11th June 2021
Happy Friday, everyone!
Where to mine, when given a choice? That’s a significant question these days, when many mining jurisdictions in both the developed and developing are facing protests against mining in their areas. From Peru to Australia, various groups from climate activists to indigenous rights groups are opposing mining for a broad variety of reasons. Concerns about water contamination, endangered species and more dominate conversations around mining. And yet, without extraction of mineral resources, the world as we know it cannot function. So what to do?
These protests are often more successful in developed nations, and partly for that reason (as well as the depletion of resources that have been mined for sometimes centuries), a lot of modern mineral resource production has been pushed into the developing world. One company trying to reverse that trend is Cornish Metals, which has just released an updated minerals resource estimate for their South Crofty tin-copper project in Cornwall, and the news is very good for tin especially.
It seems to me that there’s a balance to be struck between mining in jurisdictions where the economic impact of that activity will bring enormous benefits for the local population and the country as a whole, and mining in areas where strong regulations ensure minimal environmental and social disruption, because the sad truth is that these areas often don’t overlap. Poorer countries can be so desperate for the development that mining brings that regulatory oversight and enforcement is lax, leading directly to the kinds of problems that trigger anti-mining protests. Perhaps it would behoove protestors in developed countries to understand that mining must and will take place, and that sometimes it’s better for it to happen in jurisdictions that ensure minimal negative impacts. At the same time, it is vital that miners in all jurisdictions understand that regulation and controls on their activities are there at least in part to ensure support for their activities by minimizing damage to their environmental and social surroundings, and do what they can to abide by them.
Around the Traps
Goldplay Mining has a great news release this week showing the results of their airborne geophysical surveys and a discussion of potential drilling targets at the Scottie West project in British Columbia’s Golden Triangle. They’ve also used satellite data to help identify likely targets, and will be ground-truthing this field season.
Conquest Resources (TSXV:CQR) has announced the start of a big 10,000m drill program on their Belfast project in Ontario, targeting VTEM and gravity anomalies. Belfast is part of Conquest’s flagship Belfast-Teck Mag project, which includes the past-producing Golden Rose mine.
Big news for Mammoth Resources (TSXV:MTH), who have the Tenoriba gold-silver project in Mexico, as they announced the closing of an oversubscribed private placement that looks set to raise $2.85 million. They’ve expanded the offering and still didn’t meet demand
Back to Cornwall again, Cornish Lithium has announced that it has completed construction of a test plant that is supposed to pave the way for low-carbon lithium extraction from geothermal waters. The company has an interesting funding model and says it is striving to develop ethical and green mining practices.
That's all for this week, have a good weekend!
- Jane Lockwood