September 26, 2017 
 Tuesday 
 
 

Forum
Add your message

Your user name:

  (If you do not have one,
  please register.)
    Password:
 
Name of the Topic:

Another U.S. precious metals miner goes foreign

Message:


  Previous messages  

 By Michael Miller

07/20/2017  4:50PM

US President Donald Trump and staff were approach with a suggestion to nationalize the whole Mountain Pass enchilada to turn it into a national laboratory “dedicated to rebuilding America’s rare-earth mining industry, so the world knows it is safe to build high-tech manufacturing plants in the U.S.”

The Trump administration has not commented on the proposal that Mountain Pass be nationalized by eminent domain via the Takings Clause of the Fifth Amendment. Yikes!!
Shall I make a comment regarding my belief that the U.S. must retain a domestic mining industry? Yes.

Whether it is gold in California or rare earth minerals in California, state and federal governments must take notice as to reasons our rare earth deposit fell into a mixture of foreign hands and the Sixteen to One mine is again the last commercial underground gold operation. BUT, nationalization?

No, our governments have projected a negative attitude to miners. We ask for a neutral behavior of regulating the industry or even a helping hand. Nationalization will bring more harm than benefits. Yet, to make America greater than it has been for a while, how about governmental bureaucracy easing the pain to our miners? Hey business leaders…find another way.

Here is a tiny story of what I currently face regarding California water regulations. The Sixteen to One mine is a mineralized area commonly called a deposit. Surface water trickles through the earth and discharges from an underground hole excavated in 1865. The water has done this over 150 years with no adverse effect to Kanaka Creek and its environment. When the federal and state bureaucrat launched its broad brush to save the environment, identifying mineral levels jumped from measurements in parts per million to parts per billion. The number becomes larger and frightening to the “soft knowing eyes.”

Here is the result: California water public servants decided that the water from the Sixteen to One mine must be treated to meet drinking water standards before it passes into mineral rich Kanaka Creek, previously recognized as highly mineralized. This is governmental insanity without doubt! Mine water is not a problem. Using precious funds to negate a non-problem without beneficial gain is money lost towards production. There is no economy here that provides benefit to the public.
 By Michael Miller

06/15/2017  9:59AM

What a surprise!!!

A buyout group backed by a Chinese company has been declared the winner at a bankruptcy auction yesterday (June 14, 2017) for the Mountain Pass rare earths mine, the sole U.S. source of elements essential to electronic devices. Molycorp, the mine’s original owner, poured $1.5 billion into Mountain Pass in 2011, when rare earths prices were high. A drop in light and heavy rare earths prices forced the mine to close in mid-2015, and Molycorp went bankrupt. The US currently imports most of its rare earths from China. What contributed to the drop in price? China began dumping inventory into a market it controls.

An Australian led group of companies was designated as backup bidder. The group will be submitting an objection on or before June 19th to object to issues related to the auction process. Swiss bases mining investment fund, Pala, plays a role in the take-over as does ERP Group of Companies (private company). Russian-born billionaire Vladimir Iorich established Pala Investments in 2007.

The high bid was $20.5 million.
 By Michael Miller

02/21/2017  8:24AM

TEN TOP GOLD PRODUCING COUNTRIES

Once again, China was the world’s top gold-producing country with output of 455 MT. The country has now held that position for 10 years in a row. (MT = metric tons)

Gold production in Australia took a bit of a tumble in 2016, dropping from 278 MT in 2015 to 270 MT.

US gold production dipped last year, dropping from 214 MT in 2015 to 209 MT in 2016. Most of the gold in the country was produced at more than 40 lode mines, several large placer mines in Alaska and a number of smaller placer mines in the western USA.
The USGS further notes that the 26 top operations in the country were responsible for 99 percent of its gold output.

Gold production in Canada rose noticeably in 2016. Last year, the country reported output 170 MT of gold, compared to 153 MT in 2015.

Peru saw a slight increase in gold production last year, with output rising from 145 MT in 2015 to 150 MT in 2016.

South Africa’s gold production has steadily over the last several years. In 2016, production dropped to 140 MT from 145 MT in 2015.

Gold production Mexico has stayed relatively stable over the last several years, although it dropped last year to 125 MT from 135 MT in 2015.

Indonesia’s gold production increased from 97 MT in 2015 to 100 MT in 201.

Rounding out the list is Uzbekistan, which produced 100 MT of gold in 2016, down from 102 MT in 2015.

In 2015, global gold production increased by just under one percent in 2015. This is the seventh annual increase for gold production in a row, although that growth is slowing.

...

 

  
 
© 2017 Original Sixteen to One Mine, Inc.
PO Box 909
Alleghany, California 95910
 

Phone:   
Fax:
E-mail:
 
(530) 287-3223      
(530) 287-3455
corp@origsix.com
 

      Gold Sales:  


(530) 287-3540

goldsales@origsix.com
 



Design & development by
L. Kenez