Teck debt falls, but zinc mine permit seen a risk
TORONTO, Feb 9 (Reuters) – Teck Resources <TCKb.TO> has nearly finishing digging itself out from beneath a mountain of debt taken on to finance its purchase of Fording Coal in 2008, the company’s chief executive said on Tuesday, but it is now facing a key hurdle at its flagship zinc mine.
Native groups appealed state certification of a water discharge permit at Teck’s Red Dog mine in Alaska last month. The permit is needed for an expansion that will keep Red Dog, the largest zinc mine in the world, running beyond next year.
The action has raised concerns that an appeal of U.S. environmental and water discharge approvals could be filed before a deadline next Wednesday.
“That’s a big overhang,” said John Hughes, an analysts at Desjardins Securities.
Nuclear renaissance could stall, Canada group says
TORONTO (Reuters) – Expectations of a sharp rise in nuclear generating capacity over the next two decades are likely overblown, a Canadian think tank said on Thursday, disputing conventional wisdom that a nuclear renaissance is in full swing.
In a report based on a 3-1/2 year study of the nuclear industry, the Waterloo, Ontario-based Center for International Governance Innovation said new reactor construction will be held back by a series of economic, security, and waste disposal issues.
“Despite some powerful drivers, a revival of nuclear energy faces too many barriers compared to other means of generating electricity,” Trevor Findlay, the report’s author, said in a statement.
He argues that, despite claims in the industry that nuclear capacity is expanding, there have actually been very few new reactors started in recent years, and that nuclear energy as a percentage of global energy production has actually retreated since 2001.
Nuclear renaissance could stall, Canada group says
TORONTO, Feb 4 (Reuters) – Expectations of a sharp rise in nuclear generating capacity over the next two decades are likely overblown, a Canadian think tank said on Thursday, disputing conventional wisdom that a nuclear renaissance is in full swing.
In a report based on a 3-1/2 year study of the nuclear industry, the Waterloo, Ontario-based Centre for International Governance Innovation said new reactor construction will be held back by a series of economic, security, and waste disposal issues.
“Despite some powerful drivers, a revival of nuclear energy faces too many barriers compared to other means of generating electricity,” Trevor Findlay, the report’s author, said in a statement.
He argues that, despite claims in the industry that nuclear capacity is expanding, there have actually been very few new reactors started in recent years, and that nuclear energy as a percentage of global energy production has actually retreated since 2001.
Amnesty Int’l calls for probe into Barrick mine
TORONTO, Feb 2 (Reuters) – Amnesty International is calling on Papua New Guinea to investigate the conduct of police who allegedly burned down homes and evicted people from land adjacent to a mine owned by Barrick Gold <ABX.TO>.
In a report on Tuesday, the human rights group also criticized the Canadian mining giant for not requesting an investigation itself, and said Barrick should withdraw the logistical support it provides to local police.
Amnesty did not accuse Barrick, the world’s biggest gold producer, of having any part in the forced evictions.
Amnesty said that, between April and July 2009, police raided villages in the region of Barrick’s 95 percent owned Porgera mine, burning down more than 130 buildings and forcing families out of their homes at gunpoint.
Xstrata reaches deal with Sudbury nickel miners
TORONTO, Feb 1 (Reuters) – Anglo-Swiss miner Xstrata Plc <XTA.L> reached a tentative deal with unionized workers at its Canadian nickel mining operations in Sudbury, Ontario, on Monday, averting a strike that would have all but shut down base metals production in the Sudbury region.
Talks between the company and workers — represented by the Canadian Auto Workers — extended several hours past a Sunday strike deadline, before an agreement was reached.
“We are very pleased to have reached this tentative agreement. We believe the new offer is fair and equitable, addressing the needs of both the company and employees,” Xstrata said in a statement.
Xstrata’s Sudbury operations consist of its Nickel Rim South project as well as a mill and a smelter. The smelter processes nickel and copper concentrate from Xstrata operations in Canada and Australia.
Xstrata Sudbury labor talks go down to the wire
TORONTO, Jan 29 (Reuters) – Contract talks between Xstrata <XTA.L> and workers at its main Canadian mining operation look set to go down to the wire ahead of Sunday’s strike deadline.
A walkout at the nickel operations in Sudbury, Ontario, would likely give a boost to nickel prices, while a deal ahead of the deadline is expected by some to help facilitate the resolution of a strike at cross-town rival Vale <VALE5.SA> that is now in its seventh month.
“We are at the negotiating table and we are hopeful that we can successfully conclude a renewed agreement prior to the deadline,” Dominique Dionne, vice-president of corporate affairs at Xstrata’s nickel division, said on Friday.
Talks to renew the main contract at the Sudbury nickel operation began in mid-December. The Anglo-Swiss miner acquired the asset when it bought Canada’s Falconbridge in 2006.
Xstrata Sudbury labor talks go down to the wire
TORONTO, Jan 29 (Reuters) – Labor negotiations between Xstrata <XTA.L> and workers at its main Canadian mining operation look set to go down to the wire ahead of a Sunday strike deadline.
“We are at the negotiating table and we are hopeful that we can successfully conclude a renewed agreement prior to the deadline,” said Dominique Dionne, vice-president of corporate affairs at the Anglo-Swiss miner’s nickel division.
Talks to renew the main contract at the Sudbury, Ontario, nickel operation began in mid-December. Xstrata acquired the asset when it bought Canada’s Falconbridge in 2006.
Unionized workers — represented by the Canadian Auto Workers — voted two weeks ago to give the union a strike mandate if a deal was not reached.
Sundance film “Bhutto” sheds light on Pakistan
PARK CITY, Utah (Reuters) – Westerners seeking to understand the volatility of modern Pakistan are getting a good look at the country in a new movie examining the life and legacy of slain leader Benazir Bhutto, screening at the Sundance Film Festival this week .
Documentary “Bhutto” has earned solid reviews with its tale of the former prime minister, her family and husband, who is currently facing calls to step down as president of the nuclear-armed nation.
Bhutto, the first female leader of a Muslim country, was killed by a suicide bomber in late 2007 after returning from exile to seek the country’s leadership for the third time.
Her husband, Asif Ali Zardari, took over the presidency shortly after, and opponents are calling for him to step down due to corruption charges dating to Bhutto’s reign.
Sundance film “Bhutto” sheds light on Pakistan
PARK CITY, Utah, Jan 27 (Reuters) – Westerners seeking to understand the volatility of modern Pakistan are getting a good look at the country in a new movie examining the life and legacy of slain leader Benazir Bhutto, screening at the Sundance Film Festival this week .
Documentary “Bhutto” has earned solid reviews with its tale of the former prime minister, her family and husband, who is currently facing calls to step down as president of the nuclear-armed nation.
Bhutto, the first female leader of a Muslim country, was killed by a suicide bomber in late 2007 after returning from exile to seek the country’s leadership for the third time.
Her husband, Asif Ali Zardari, took over the presidency shortly after, and opponents are calling for him to step down due to corruption charges dating to Bhutto’s reign.
Sundance films turn cameras on the paparazzi
PARK CITY, Utah (Reuters) – In a celebrity culture that turns the spotlight on its heroes to uncover their flaws, it seems only natural, at some point, to return it to the people who take the pictures — the paparazzi — to see if they can live up to their own scrutiny.
Two films at this week’s Sundance Film Festival have taken on that cause. One examines the career of one of the industry’s icons, Ron Galella, and the other is a turn-the-tables effort by paparazzi target, actor Adrian Grenier of “Entourage” fame.
In “Teenage Paparazzo”, Grenier picks up his own camera to pursue Austin Visschedyk, a 13-year-old paparazzo whom Grenier met after he was ambushed by the young photographer.
Initially motivated by curiosity and concern for the teenager — who routinely stays out until 2 a.m. on school nights jostling for shooting position with men twice his age — Grenier broadens the focus to the relationship between paparazzi and the celebrities who are their targets.