Just a short note to alert you to the announcement by Cliff Natural Resources that they plan to close their Bloom Lake Mine in Quebec, and that the estimated cost of closure is up to $700 million. That is not quiet as much as is estimated for the BC KSM Mine; their closure cost estimate is a clean one billion dollars. And compare that to the estimated $750,000,000 in bonds posted with BC for closure of all current mines in BC. Or the billion dollar estimate to close the Giant Mine. I am told the estimated cost to close the Faro Mine is $600,000,000 but don’t quote me on that. We will watch the unfolding of the news on the cost to close Bloom Lake. It must surely be cheaper to keep it open indefinitely with a skeleton crew and a glimmer of hope that is will go into full production again sometime in the future.
Archive for the ‘Money & Mining’ Category
Posted in About the news, British Columbia, California, Colorado, due dilligence, Law (Mining), Mining history, Reclamation, safety, Tailings, tagged best management practices, canadian dam associatin, cda, guidelines, PMF. MCE, Tailings, uranium study, Virginia on November 18, 2014 | 9 Comments »
This picture and the others in this posting were taken by me at Knotsberry Farm in California.
A great place to visit and enjoy a terrifying ride along the raging river of insanity.
If you seek a thorough and intelligent analysis of dealing with uranium mill sites (and particularly the tailings facility) take a look at the following–it is an amazingly comprehensive document–and should be required reading for all involved in mine management, regardless of whether the mine is uranium, copper, gold, or something else. (more…)
Posted in About the news, acid mine drainage, British Columbia, Enviromental, health and safety, Human relations and mining, Investing & Finance, mining, tagged bennett, KSM mine, mem, mt polley, Pebble Mine, risk, salmon beyond borders on November 15, 2014 | 14 Comments »
Here is the outfall of the Pebble Mine and Mt Polley Mine debacles. A report on the Seabridge Gold’s KSM Mine in BC. The report is authored by Salmon Beyond Borders, a coalition of Alaska Native tribal members, commercial, sport and subsistence fishermen, and other groups, in consultation with Earthworks. The press release is at this link. The full report is at this link. Here from the press release on the five key risks associated with the mine: (more…)
Posted in About the news, blogs, brandy, British Columbia, California, consulting, feasibilty studies, Investing & Finance, mining, Mining history, opera, Tailings, tagged andy fourie, bafokeng, deathof klinghoffer, escobal, mt polley, my polley, opera, P/E, professional registration, Tahoe Resources on November 6, 2014 | 3 Comments »
Here is information I received as a comment on a recent blog posting:
California is an anomaly from the perspective that it is only one of 5 or 6 states or territories that do not recognize mining as an engineering discipline; along with Guam, Hawaii, Delaware and a couple of others. The need for being registered is driven primarily by the State Boards. There are several places in the industry where signatures are required: on 10K reports for certification of reserves. This requires a “qualified person” and since there are 20 states that don’t recognize geologists as a profession, then the role may be defined as engineering in some cases. There are a plethora of state and federal mining permits requiring a PE signature. Underground seals must be constructed and signed off by a PE. Roof Control and Ventilation plans and many environmental permits require signatures. As I said, California is one of the exceptions and I really don’t understand why mining is ignored when mining was at the core of the state’s formation. I will say that the lack of recognition by the State has caused some confusion regarding liability and accountability.
Those who like the history of technology might enjoy the paper at this link. I came across it today while searching for something related. Its title is Conceptual design of the Weldon Spring site disposal cell: a modified value engineering approach. I knew, worked with, and admired the authors: Edward C. Tom and Partha Sircar then with Morrison Knudsen Corporation. (I wonder where they are now?) (more…)
Posted in About the news, blogs, brandy, British Columbia, consulting, drilling, Jobs and Salaries, Law (Mining), mining, People, Tailings, tagged klohn crippen berger, morgenstern vick van zyl, mt polley, thurbers on October 29, 2014 | 16 Comments »
Today I received the followings announcement by email. I cannot find the original on the website of the BC Ministry of Energy and Mines (MEM). Maybe they have not gotten down to posting it yet. The announcement, in short, is that MEM has awarded Klohn Crippen Berger (KCB) a $1.5 million to help MEM evaluate the cause of the Mt Polley failure–more specifically to provide advice in conducting the “forensic investigation” into the breach. (more…)