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Archive for August, 2009

  Tim Dyhr of The Mines Group is a long-time colleague.  Today he reminded me of another of those conundrums of mining and environmental protection, namely the need to mine the rare metals needed to make electric cars, or more specifically the batteries for such cars.  He writes in an e-mail, in which he quotes the report at this link:

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    In 2008, a long report concluded that the proposed Kemess South mine in British Columbia should not be developed.  The report concluded that with but ten years of production it simply was not worth killing a local lake with tailings and impacting local water bodies with acid mine drainage from the open pit.  The report concluded that the cost of perpetual water treatment of run-off from the slopes of the open pit could not justify ten years of mine profits and the small tax income.

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   The August 2009 issue of the magazine Civil Engineering published by the American Society of Civil Engineers (ASCE) reports on 2008 to 2009 engineering salaries.  Details are available from the ASCE website.   Here are some snippets relevant to mining. 

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    Roast vegetables, grilled shrimp, and fried polenta graced an elegant dinner table last night as we debated production of goods versus provision of services.  The basic premise is that mining is good as it produces a tangible product that makes further production of goods possible—and those goods presumably enhance lifestyles and human happiness.  Conversely the dinner-table guests decried provision of services as a mere cost-increasing activity.

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America Redux

A trip across the United States is like falling down the rabbit hole clutching Alice’s hand and emerging into unreality at every Mad Hatter tea-party.   I do not refer to those asinine political gatherings convened by the marginally certifiable.  I refer to otherwise perfectly ordinary people who are long-time good friends or to whom I am related.  

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    Australia rejects a cap and trade on carbon dioxide control.  Ian Plimer a professor of mining geology is given credit for killing the bill to act on global warming.  He has called global warming “the new religion” noting that:

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     CostMine  in the new Canadian Mine Salaries, Wages & Benefit 2009  lists the salaries of those working in the Canadian mining industry in mid 2009.  I am always surprised how low they seem by comparison with the salaries of those folk I know in the industry:  engineers on the oil sands mines and in consulting companies in Vancouver.  Maybe you just have to face it: if you really want to increase your salary in the Canadian mining industry in Canada, you have to work the oil sands or the consultants.

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   CostMine  has just sent me the new Canadian Mine Salaries, Wages & Benefit 2009 survey and report.  Here are some of the number  I found interesting about wages.  (I will comment on salaries and executive pay in future postings.)

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The rich and the religious are different from the rest of us.  At dinner the other evening, a rich lady told me of her trip in her 44-ft yacht to Catalina, that rather desolate island off the coast of Orange County.  She was complaining about the lady in the 38-ft yacht, who apparently had the timidity to say that she does not believe in global warming.  The lady in the 38-ft yacht is very religious and she maintains that God would never let his creation be affected by such a nasty thing as global warming, therefore there can be no such thing as global warming.   

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       Out of the blue, this e-mail appeared in my inbox:

Just wanted to get your take on Silverado Gold Mines (SLGLF).     It looks like it could have some huge upside potential at just $0.02 ,  with very limited downside risk.     Good news releases are coming out.  Silverado Gold  just hired a brokerage firm “D&D Securities Company” to help promote the stock and raise money.   SLGLF  looks like it wants to break thru the $0.02/share resistance.     Should I buy here or wait for a pull back?     The stock is making  higher highs and higher lows.   Your thoughts are greatly appreciated.

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