Canadian Mining JournalCanadian Mining Journal https://www.canadianminingjournal.com/ Canada's First Mining Publication Thu, 12 Nov 2026 19:34:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.14 Xylem completes $1.46B acquisition, expands pumping portfolio https://www.canadianminingjournal.com/wp-content/uploads/2025/11/AdobeStock_1188757924-150x100.jpeg https://www.canadianminingjournal.com/news/xylem-completes-1-46b-acquisition-expands-pumping-portfolio/ https://www.canadianminingjournal.com/news/xylem-completes-1-46b-acquisition-expands-pumping-portfolio/#respond Thu, 12 Nov 2026 18:32:40 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791997
View of a water treatment facility at copper mine. Credit: Adobe Stock.
Xylem (NYSE: XYL) has completed the acquisition of Cornell Pump and Roper Pump, furthering the company’s portfolio transformation. The news follows Xylem’s recent acquisitions of WaterFleet and TriOS. The D.C.-based water technology company says it chose these businesses because each has grown at rates above Xylem’s current targets at rates above Xylem’s current targets and expand the company’s capabilities across the mining, semiconductor, and food and beverage sectors.  “We’ve been very deliberate about where we want to grow and where we believe Xylem can create the most value,” said Matthew Pine, President and CEO of Xylem. “This acquisition is a great example. It brings strong positions in markets benefiting from some of the biggest investment trends we see today, along with technologies and expertise that broaden what we can do for customers.” Cornell and Roper will be part of the company’s water infrastructure segment through January 2027, when they will be reported as part of Xylem’s flow solutions segment. The businesses add technologies used in slurry transport, solids handling and suction lift to the company’s portfolio.

Transaction details

Announced in August, the deal is valued at $1.46 billion (C$2.08 billion) and is expected to grow Xylem’s adjusted earnings per share in 2027. The company says the businesses could generate more than $260 million in revenue in 2026, with EBITDA margins above 30%. ]]> https://www.canadianminingjournal.com/news/xylem-completes-1-46b-acquisition-expands-pumping-portfolio/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2025/11/AdobeStock_1188757924-1024x682.jpeg1024682 Haver & Boecker Niagara hires new Alta., Sask., territory manager https://www.canadianminingjournal.com/wp-content/uploads/2026/11/HaverBoeckerNiagara_ShaneMonsour_2-150x113.jpeg https://www.canadianminingjournal.com/news/haver-boecker-niagara-hires-new-alta-sask-territory-manager/ https://www.canadianminingjournal.com/news/haver-boecker-niagara-hires-new-alta-sask-territory-manager/#respond Thu, 12 Nov 2026 17:46:00 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791994
Shane Monsour, Haver & Boecker Niagara's territory manager for Alberta and Saskatchewan. Credit: Haver & Boecker Niagara
Haver & Boecker Niagara has named Shane Monsour as territory manager for Alberta and Saskatchewan.  In this role, Monsour will focus on the aggregates and mining segments within the region while also growing the company's presence in other applications. His first priority will be reconnecting with customers across the provinces, meeting on-site to review their equipment and processes, and identify where additional support could help best achieve production goals. “There's nothing better than giving customers something they can't find internally or from another vendor,” Monsour said in a company news release. “It's about building a true partnership and helping them succeed because of that expertise.”

Previous experience 

Monsour joins Haver & Boecker Niagara with 25 years of experience in the oil and gas, drilling and solids control, mining, and construction industries. He previously worked on one of Canada’s largest pipeline crossing projects, helping develop a cementing and fibre-optic monitoring solution for a 2.2-kilometre installation. “That kind of hands-on expertise is exactly what reinforces our commitment to customer success in the field,” said Steve Dery, Haver & Boecker Niagara’s vice-president of sales. “Shane will be a great fit for the Haver team.”  “I don’t feel like I’m just another employee here. They’ve made me feel like I’m joining a family,” Monsour added. “Seeing how many people have built long careers here says everything about the culture.” Monsour is currently based in Vegreville, Alta., about 100 kilometres east of Edmonton. ]]> https://www.canadianminingjournal.com/news/haver-boecker-niagara-hires-new-alta-sask-territory-manager/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/HaverBoeckerNiagara_ShaneMonsour_2-1024x768.jpeg1024768 Awalé extends gold beyond Ivory Coast resource https://www.canadianminingjournal.com/wp-content/uploads/2026/11/P1012764-2048x1537-1-150x113.webp https://www.canadianminingjournal.com/news/awale-extends-gold-beyond-ivory-coast-resource/ https://www.canadianminingjournal.com/news/awale-extends-gold-beyond-ivory-coast-resource/#respond Thu, 12 Nov 2026 16:18:57 +0000 Canadian Mining Journal Staff https://www.canadianminingjournal.com/?p=1003791988
An Awalé employee at the company's Odienné project. Credit: Awalé Resources.
Awalé Resources (TSXV: ARIC; US-OTC: AWLRF) has drilled a broad gold interval outside the current resource at the Charger deposit on its Odienné property in Côte d’Ivoire, strengthening the case for an expansion.

Hole CHDD-68 cut 57 metres at 10.6 grams gold per tonne from 148 metres depth, including 20 metres at 19.6 grams from 183 metres. It sits 210 metres southwest of the discovery holes, the company said Wednesday.

“We believe Charger has room to grow beyond the current [mineral resource estimate],” CEO Andrew Chubb said.

Charger contains 231,000 oz. of gold in the resource issued in May. Finding similar mineralization beyond its boundaries could enlarge the deposit, although further drilling and resource work are needed to establish how much additional gold it contains.

Linked zones

Awalé now interprets Charger’s two previously separate zones as one system extending about 300 metres along strike and 400 metres vertically.

Other holes cut 28 metres at 3.5 grams gold from 146 metres depth and 18 metres at 3.0 grams from 211 metres. Results from another 27 Charger holes are pending.

The intervals are drill lengths. True width remains unknown in the area previously called Charger 2, which includes CHDD-68.

Awalé shares dropped 3.8% to 79¢ Thursday morning on the TSX Venture Exchange, valuing the company at about C$110 million ($79 million). The stock has ranged between 53¢ and C$1.18 in the past year. ]]> https://www.canadianminingjournal.com/news/awale-extends-gold-beyond-ivory-coast-resource/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/P1012764-2048x1537-1-1024x769.webp1024769 Komatsu to take over Roadtec, Carlson in $75M deal https://www.canadianminingjournal.com/wp-content/uploads/2026/11/komatsu-150x100.webp https://www.canadianminingjournal.com/news/komatsu-to-take-over-roadtec-carlson-in-75m-deal/ https://www.canadianminingjournal.com/news/komatsu-to-take-over-roadtec-carlson-in-75m-deal/#respond Thu, 12 Nov 2026 16:14:53 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791974
The Roadtec RX-900e cold planer. Credit: Komatsu
Komatsu (TYO: 6301) is set to acquire the Roadtec business following a $75 million (C$107 million) agreement with Astec Industries (NASDAQ: ASTE). The deal adds Roadtec- and Carlson-branded pavers, milling machines, material transfer vehicles and stabilizers to Komatsu's construction portfolio. “Road construction plays an important role in building and maintaining the infrastructure that supports communities and economies in North America and around the world,” said Rod Bull, Komatsu North America’s CEO. Based in Chattanooga, Tennessee, Roadtec designs and manufactures equipment used for road construction and resurfacing. According to Astec, the business generates about $145 million in yearly revenue. “North America is one of Komatsu’s key markets, and this acquisition reflects our continued commitment to investing in the region,” said Takuya Imayoshi, Komatsu’s president and CEO. “Komatsu has long recognized the strategic importance of road construction equipment and has considered opportunities to expand in this market for many years.” The transaction is expected to close Jan. 1, 2027, subject to customary closing conditions.

Astec surge

Shares in Astec rose 4.99% to $39.35 apiece Thursday morning in New York following the announcement. The company expects to realize about $65 million in total cash proceeds and tax benefits associated with the sale. It says it will use this money to strengthen balance sheets and provide flexibility to pursue future strategic acquisitions.  “This transaction is consistent with our strategy to sharpen our portfolio focus, drive sustainable margin expansion and allocate capital toward our core businesses and long-term growth opportunities,” said Jaco van der Merwe, Astec’s president and CEO. “I want to thank our Roadtec employees for their dedication and contributions and our customers for their partnership and loyalty over the years.” ]]> https://www.canadianminingjournal.com/news/komatsu-to-take-over-roadtec-carlson-in-75m-deal/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/komatsu.webp1000667 Titan, US military team up on graphite  https://www.canadianminingjournal.com/wp-content/uploads/2026/11/ESMMedia-13-scaled-1-150x100.jpg https://www.canadianminingjournal.com/news/titan-us-military-team-up-on-graphite/ https://www.canadianminingjournal.com/news/titan-us-military-team-up-on-graphite/#respond Thu, 12 Nov 2026 15:29:15 +0000 Canadian Mining Journal Staff https://www.canadianminingjournal.com/?p=1003791986
Titan Mining workers at the company's Kilbourne project in New York. Credit: Titan Mining
Titan Mining (NYSE-A: TII; TSX: TI) is working to become the first commercial graphite producer in the United States in 70 years while pursuing an historic agreement with the Army to set up a graphite processing plant on a base in Alabama.   The proposed deal would see Titan ship graphite concentrate from its main Kilbourne mine and demonstration plant in upstate New York to the Anniston Army Depot, where Titan’s Empire Mines subsidiary would further process the graphite using some existing infrastructure. The depot is about 145 km northeast of Alabama state capital Montgomery.   "It's great to be able to produce a concentrate, but unless you can refine it down further, you end up facing that same situation where you're basically exporting the midstream back to China or somewhere else,” Titan CEO Rita Adiani told The Northern Miner in an October interview.   "This allows us to effectively get to an end-to-end product domestically, which is pretty significant from a supply chain security standpoint." 

Government-industry momentum 

Selected under the U.S. Army's Strategic Capital Initiatives (SCI) program in June, the base partnership marks significant cooperation between the government, military and industry as the U.S. increasingly seeks to bring critical mineral supply chains under domestic control and outside the influence of China.   Of the three Army bases under consideration, including Fort Drum in New York and Pine Bluff Arsenal in Arkansas, Titan’s Anniston base deal has progressed to a commercial term sheet, although a definitive lease remains outstanding. The Anniston lease covers an initial 50 years with two additional 25-year renewal options.  The other companies selected under the SCI program include REalloys (Nasdaq: ALOY) and Ioneer (ASX: INR), which received conditional lease awards to develop separate heavy rare earth and boron processing facilities, respectively, at Tooele Army Depot in Utah; and private firm EnergyX, which has a conditional lease for a lithium plant at the Red River base in Texas.  

13-year life 

Kilbourne could produce about 40,000 tonnes of graphite concentrate annually at nameplate capacity over a 13-year life, according to a preliminary economic assessment (PEA) from 2025. Titan began production at Kilbourne in January and has shipped at least 1,600 kg of graphite concentrate to customers.   Discounted at 7%, it has a post-tax net present value of $513 million, a post-tax internal rate of return of 37% and initial costs of $156 million.  The PEA is based on 2.4 million inferred tons grading 2.91% graphitic carbon (Cg), containing 653,000 short tons of graphite in open-pit constrained resources, according to a 2024 initial estimate.   A feasibility study is under way for the integrated mining and processing operation, expected to be released in the first half of 2027.  Titan also produces zinc through Empire State Mines at Kilbourne, about 480 km northwest of New York City.  ]]> https://www.canadianminingjournal.com/news/titan-us-military-team-up-on-graphite/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/ESMMedia-13-scaled-1-1024x683.jpg1024683 Speedshield introduces vehicle detection for AiVA safety system https://www.canadianminingjournal.com/wp-content/uploads/2025/08/Speedshield-image-150x100.png https://www.canadianminingjournal.com/news/speedshield-introduces-vehicle-detection-for-aiva-safety-system/ https://www.canadianminingjournal.com/news/speedshield-introduces-vehicle-detection-for-aiva-safety-system/#respond Thu, 12 Nov 2026 15:27:52 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791972
Speedshield safety system demonstration. Credit: Speedshield
Speedshield Technologies has added vehicle detection to its existing pedestrian safety system platform.   The company’s AiVA safety system uses stereoscopic 3D and artificial intelligence (AI) to detect pedestrians and gauge their distance from active machinery. The system provides visual and audible alerts.  Speedshield says the development is a direct response to customer demand for technology that helps operators recognize both people and vehicles around working machinery. “Protecting people has always been our first priority, and that commitment continues to guide how we develop AiVA,” said Nathan McKenzie, Speedshield’s CEO. “Adding vehicle detection responds directly to that need, giving operators another set of eyes while building on the pedestrian protection at the heart of the system.” Similar to mining operations, agricultural environments present visibility challenges and restricted sightlines, making it difficult for operators to monitor nearby activity while controlling machinery. “Farmers know how much depends on keeping equipment working when the conditions are right,” McKenzie added. “A collision can injure someone and take a critical machine out of service at the worst possible time. Our focus is on giving operators useful information when it can help them act.” Speedshield will showcase the new capabilities at EIMA 2026, taking place Nov. 10 to 24 in Bologna, Italy.   ]]> https://www.canadianminingjournal.com/news/speedshield-introduces-vehicle-detection-for-aiva-safety-system/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2025/08/Speedshield-image-1024x683.png1024683 Weir expands portfolio with new vertical stirred mill https://www.canadianminingjournal.com/wp-content/uploads/2026/11/aa9154bf-2786-492e-8523-83f3043cfea5-edited-150x113.png https://www.canadianminingjournal.com/news/weir-expands-portfolio-with-new-vertical-stirred-mill/ https://www.canadianminingjournal.com/news/weir-expands-portfolio-with-new-vertical-stirred-mill/#respond Thu, 12 Nov 2026 14:48:31 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791967
The ENDURON Optimil vertical stirred mill. Credit: Weir
Weir (LON: WEIR) has launched the ENDURON Optimil vertical stirred mill, a grinding solution designed to improve efficiency. The company says its proprietary grinding mechanism and ceramic grinding media extend media life by reducing downtime and planned maintenance frequency. The ENDURON Optimil also uses a variable speed drive (VSD) system that allows operators to control rotor tip speed to their desired set point. “Mining companies are under increasing pressure to improve productivity while reducing energy consumption, water use and operating costs,” said Ralf Hesemann, Weir’s  managing director  of vertical stirred mills. “We’ve created a solution focused on the practical demands of modern processing operations, from media consumption and maintenance requirements to long-term cost of ownership.”

Energy efficiency

In addition to its ceramic media and VSD, Weir says the mill’s rotor geometry has been optimized to balance energy transfer, wear life and volumetric efficiency.  Stuart Hayton, Weir’s vice-president for comminution, said these components can help “deliver energy savings of more than 40% compared to traditional grinding solutions.”

Customer relations

Within the first year of development and market introduction, Weir says it secured orders for 10 mills across the product range, a customer response it called “extremely encouraging.” “Equipment performance is only part of the equation. Customers also need a partner that can support them throughout the life of their operation,” Hayton added. “With local service centres, global comminution expertise and a strong aftermarket support network, Weir works closely with customers.” The launch is a further expansion in Weir’s sustainable comminution portfolio. For more information, visit Weir’s website.  ]]> https://www.canadianminingjournal.com/news/weir-expands-portfolio-with-new-vertical-stirred-mill/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/aa9154bf-2786-492e-8523-83f3043cfea5-edited-1024x768.png1024768 NVRO Metals closes $35M private placement, plans Northern Territories acquisition https://www.canadianminingjournal.com/wp-content/uploads/2026/11/NVRO-Metals-1536x864-1-150x84.png https://www.canadianminingjournal.com/news/nvro-metals-closes-35m-private-placement-plans-northern-territories-acquisition/ https://www.canadianminingjournal.com/news/nvro-metals-closes-35m-private-placement-plans-northern-territories-acquisition/#respond Wed, 11 Nov 2026 18:50:58 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791958
Photo of the NVRO Metals Hub project in Australia's Northern Territory. Credit: NVRO
NVRO Metals (TSXV: NVRO) has raised $35 million (US$24.57 million) to fund the acquisition of Northern Territories Resources. The money was raised through a brokered private placement and concurrent non-brokered subscriptions. The brokered portion was conducted by ATB Cormark Capital Markets and Cantor Fitzgerald Canada Corporation, as co-lead agents and joint bookrunners. The company issued more than 269 million units at a price of 13¢ apiece.  The company has agreed to acquire all of the issued and outstanding shares of Northern Territories through its subsidiary NVRO Australia. In doing so, the company will establish NVRO Metals Hub, a critical minerals production platform that will use the company’s NVRO Process.

Supply agreements

In anticipation of the NVRO Metals Hub, the company has entered two supply agreements.  NVRO has agreed to purchase tailings from Hecla’s Greens Creek mine in Alaska for processing at the NVRO Metals Hub. The agreement has an initial term of five years from the first shipment and provides up to 750,000 tonnes of material per year. It has also entered into an offtake and prepayment agreement with Transamine for 100% of the copper cathode to be produced at the NVRO Metals Hub. In return, Transamine will provide up to US$10 million for commissioning activities toward copper cathode production, and up to US$5 million for general working capital. NVRO says it expects the acquisition of Northern Territories to occur in the coming days. ]]> https://www.canadianminingjournal.com/news/nvro-metals-closes-35m-private-placement-plans-northern-territories-acquisition/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/NVRO-Metals-1536x864-1-1024x576.png1024576 Sponsored: CAUR aims to take guesswork out of deep drilling https://www.canadianminingjournal.com/wp-content/uploads/2026/11/CAUR-150x85.jpg https://www.canadianminingjournal.com/news/sponsored-caur-aims-to-take-guesswork-out-of-deep-drilling/ https://www.canadianminingjournal.com/news/sponsored-caur-aims-to-take-guesswork-out-of-deep-drilling/#respond Wed, 11 Nov 2026 18:28:23 +0000 Northern Miner Staff https://www.canadianminingjournal.com/?p=1003791961 CAUR Technologies MD & Founder Daniel Campos in conversation with The Northern Miner video host Devan Murugan. This sponsored video is PROMOTED CONTENT paid for by CAUR Technologies and produced in co-operation with The Northern Miner. Visit https://caurtech.com/en for more information.
]]> https://www.canadianminingjournal.com/news/sponsored-caur-aims-to-take-guesswork-out-of-deep-drilling/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/CAUR-1024x577.jpg1024577 Carbonix, SGS partner on lower-emission iron testing https://www.canadianminingjournal.com/wp-content/uploads/2026/11/Iron-ore-production-Adobe-Stock-littlewolf1989-scaled-1-150x100.jpeg https://www.canadianminingjournal.com/news/carbonix-sgs-partner-on-lower-emission-iron-testing/ https://www.canadianminingjournal.com/news/carbonix-sgs-partner-on-lower-emission-iron-testing/#respond Wed, 11 Nov 2026 18:12:33 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791956
Iron ore production. Credit: Adobe Stock
SGS (SWX: SGSN) has agreed to test Carbonix’s P180 direct reduction technology, designed to turn Canadian iron ore concentrate into hot briquetted iron (HBI) in a single facility. Signed in June, the agreement establishes the SGS-Carbonix pilot plant, a program led by SGS’s Metallurgical Centre of Excellence in Lakefield, Ont. The program will evaluate P180 through extended operating campaigns, assessing process performance, product quality and other key parameters. The resulting technical data will inform the assessment of the technology's feasibility and potential scalability, including considerations for future developments. SGS will upgrade and agglomerate the ore feed, oversee the reactor campaign, perform assays and report milestones against defined criteria. The program is scheduled to conclude with a pre-feasibility engineering (Pre-FEED) study. “Independent validation is how a new process earns the confidence of the people who must finance, build and operate it,” said Stephen Mackie, SGS’s vice-president of metallurgy and consulting for North America. Since 1941, SGS’ Lakefield team has completed more than 22,000 projects for the global mining industry, from early testing through piloting and scale-up. 

Canadian made

Headquartered at Fort William First Nation, Ont., Carbonix is an Indigenous-owned iron manufacturer. Its P180 process is designed to use natural gas to produce hydrogen and solid carbon, with the hydrogen used to reduce iron ore and the carbon retained as a co-product rather than released as carbon dioxide. The sustained operation of P180 has not yet been demonstrated. “Whether we are talking to a private client or a government, they will trust our technology because it is  backed by a credible, transparent program that gives them everything they need to judge P180’s performance and potential,” said Paul Pede, Carbonix’s president and CEO. “P180 did not exist when we first brought material to Lakefield in 2012; it came out of the work we have done here since.” In March, Ontario expanded its critical minerals list to include high-purity iron, citing the shift to electric arc furnace steelmaking in the province's steel mills. Carbonix says those furnaces require HBI to operate and the province is currently without a producing plant. “The independent evaluation conducted by SGS will generate technical evidence to assess the feasibility, performance and potential scalability of the process, helping inform future decisions regarding its possible application within Canada's evolving steel supply chain,” Pede said. ]]> https://www.canadianminingjournal.com/news/carbonix-sgs-partner-on-lower-emission-iron-testing/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/Iron-ore-production-Adobe-Stock-littlewolf1989-scaled-1-1024x683.jpeg1024683 ACEC recognizes two BBA projects with national awards https://www.canadianminingjournal.com/wp-content/uploads/2026/04/HQ-outdoor-drone-shot-e1776361877286-150x100.jpg https://www.canadianminingjournal.com/news/acec-recognizes-two-bba-projects-with-national-awards/ https://www.canadianminingjournal.com/news/acec-recognizes-two-bba-projects-with-national-awards/#respond Wed, 11 Nov 2026 16:34:07 +0000 David Cassels https://www.canadianminingjournal.com/?p=1003791927
Mangrove Lithium's lithium refining facility in Delta, BC Credit: Mangrove Lithium
BBA Consultants, an engineering and professional services firm for the mining, energy and natural resources sectors, received four honours at this year's Association of Consulting Engineering Companies (ACEC) National Awards Gala.  The two projects recognized were Mangrove Lithium’s refining plant in British Columbia and the Saa/Se solar farm in Yukon. Both projects received an Award of Excellence and a special award at the gala. In addition, Mangrove Lithium picked up the Catalyst Award, and Saa/Se received the Engineering a Better Canada Award. ACEC’s awards are meant to celebrate the lasting impact of engineering projects across Canada. In total, 16 Awards of Excellence were handed out, and four firms were presented with Special Awards for technical innovation, environmental stewardship, and improvement of Canadians’ social, economic or cultural quality of life. The gala was held on Oct. 29 in Ottawa.

Mangrove’s commercialization

Mangrove Lithium, with the support of BBA, commissioned North America’s first electrochemical lithium refining facility in Delta, B.C. With an annual capacity of 1,000 tonnes of battery-grade lithium, the facility can support the production of about 25,000 electric vehicles per year. ACEC’s jury recognized Mangrove’s refinery and its role in clean energy as vital to the Canadian economy, awarding it the Catalyst Award in addition to its Award of Excellence.  Stéphane Charest, BBA’s vice-president for energy and chemicals, said the award “highlights our teams' expertise and commitment, as well as the trust Mangrove Lithium placed in us to help achieve a significant milestone for the battery supply chain.”

Solar shift

The Saa/Se solar farm project was led by the White River First Nation and Copper Niisüü Limited Partnership. The 1.9-megawatt solar power plant now supplies more than half of Beaver Creek, Yukon’s annual electricity needs, saving between 320,000 and 350,000 litres of diesel each year. Due to its impact on the community, ACEC’s jury highlighted the project as a leading example of Indigenous-led efforts to move First Nations communities away from diesel power and toward greater ownership of their electrical infrastructure.  François Vitez, BBA’s vice-president of power and renewables, said the project demonstrates “what renewable energy can bring to northern and remote communities.”  ]]> https://www.canadianminingjournal.com/news/acec-recognizes-two-bba-projects-with-national-awards/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/04/HQ-outdoor-drone-shot-e1776361877286.jpg1000667 Altius to buy TNR Gold in $122-million royalty deal https://www.canadianminingjournal.com/wp-content/uploads/2026/11/los-azules-2-mg_0568-2-150x84.jpg https://www.canadianminingjournal.com/news/altius-to-buy-tnr-gold-in-122-million-royalty-deal/ https://www.canadianminingjournal.com/news/altius-to-buy-tnr-gold-in-122-million-royalty-deal/#respond Wed, 11 Nov 2026 16:17:29 +0000 Canadian Mining Journal Staff https://www.canadianminingjournal.com/?p=1003791945
The Los Azules project area in Argentina. Credit: McEwen Copper.
Altius Minerals (TSX: ALS) agreed to buy TNR Gold (TSXV: TNR) in a deal valued at $122 million (US$86 million) that boosts the company’s exposure to Argentine copper and lithium while spinning out an Alaska gold project. Each eligible TNR share would receive 0.0072 Altius shares and a quarter-share in a new company holding the Shotgun gold project, Altius said Wednesday in a statement. The package’s estimated value of 48¢ includes 38¢ in Altius stock and 10¢ assigned to the spinout, representing a 60% premium to TNR’s 30¢ close Tuesday. The acquisition fits Altius’s strategy of accumulating royalties on long-life mineral deposits. It combines potential future copper revenue from TNR’s royalty on McEwen Copper’s Los Azules project with exposure to Mariana, an operating lithium brine project where Altius already holds a royalty. TNR’s interests also include a royalty on properties within the Josemaria copper-gold project. Los Azules “represents the primary long-term opportunity, while Mariana offers nearer-term cash flow potential,” TD Securities mining analyst Craig Hutchison said in a note.

Development timelines

Hutchison expects limited near-term financial impact from the relatively small deal, with its value dependent on development timelines at Los Azules and Josemaria. The companies’ relationship deepened in May, when Altius completed a $4.2-million investment for a minority stake and secured first-offer rights over TNR’s principal royalties. By October, Altius owned about 13% of TNR, which disclosed an unsolicited takeover proposal and entered exclusive talks.

TNR’s effective interests include a 0.36% net smelter return royalty on Los Azules and 1.35% on Mariana, excluding portions held for another shareholder.

McEwen project

Los Azules, in San Juan province, is owned by McEwen Copper, whose investors include McEwen (TSX: MUX; NYSE: MUX), Rio Tinto (ASX: RIO; LSE: RIO; NYSE: RIO) and automaker Stellantis.

A 2025 feasibility study for the project outlines average annual production of about 148,200 tonnes of copper cathode over 21 years, with cash costs of US$1.71 per lb. The proposed operation would produce finished copper using heap leaching and solvent extraction-electrowinning, avoiding a conventional concentrator and reliance on outside smelters. Nearby exploration targets could eventually help extend the project’s operating life.

Los Azules “offers the potential for decades of increased copper exposure within our portfolio,” Altius CEO Brian Dalton said Wednesday.

McEwen Copper secured a US$240-million loan in August for engineering and early works. Full project financing and a final investment decision are targeted for mid-2027, with commercial production starting in 2030, subject to financing and approvals. That leaves the royalty’s copper cash flow dependent on successful development.

Buyback option

At Mariana, Ganfeng Lithium inaugurated a 20,000-tonne-per-year lithium chloride plant in February 2025. The acquisition would consolidate Altius’s exposure to the operation, although TNR’s royalty carries a buyback provision: Ganfeng’s subsidiary can purchase 0.9 percentage points of TNR’s effective interest for $900,000, reducing it to 0.45%.

Shotgun would remain with former TNR shareholders through the spinout. Altius would retain a 0.5% royalty and invest $2.2 million to increase its spinout ownership to just under 20%, while providing technical support.

Closing of the TNR acquisition is expected around the first quarter of 2027, subject to shareholder, court and regulatory approvals. Shareholders controlling about 28% of TNR have signed support agreements; a vote is expected in December.

TNR shares closed Tuesday at 30¢ in Toronto, valuing the company at $73 million, before trading was halted Wednesday morning pending news. Altius was 3.5% weaker at $51.14 Wednesday, valuing it at $3 billion. ]]> https://www.canadianminingjournal.com/news/altius-to-buy-tnr-gold-in-122-million-royalty-deal/feed/ 0 https://www.canadianminingjournal.com/wp-content/uploads/2026/11/los-azules-2-mg_0568-2-1024x575.jpg1024575