I-Man
3 년 전
Something to share with you all here:
Why Biden Admin dangerous to USA. He is acting like the Saudi Govt does regarding fossils fuels, minerals, etc...::
Sept 16 (Reuters) - U.S. mining companies are blasting proposals in Congress that would set royalties for copper, lithium and other minerals extracted from federal land, with executives saying the measures would hurt domestic production of the building blocks for solar panels, electric vehicles and other green technologies.
The House of Representatives Natural Resources Committee added language to the proposed $3.5 trillion reconciliation spending measure last week that would set an 8% gross royalty on existing mines and 4% on new ones. There would also be a 7 cent fee for every ton of rock moved.
That would mark one of the most-substantial changes to the law that has governed U.S. mining since 1872 and could raise about $2 billion over 10 years for federal coffers.
The full House could reverse the committee's move and the legislation faces an uncertain fate in the U.S. Senate.
"The race for electric vehicles and electrification of the economy requires metals and mining, and that needs to be incentivized, not stalled," said Rich Nolan, head of the National Mining Association, an industry trade group.
Tensions are rising in the United States over how best to procure minerals needed to green the economy. President Joe Biden has yet to take a public stance on the issue, though privately he has signaled plans to rely on allies for EV metals, Reuters reported earlier this year.
The 1872 law did not set royalties in order to encourage development of more than 350 million acres in the western United States. Miners say it should remain as-is, or be tweaked only slightly. Environmentalists have long said the law should be updated to require the industry to pay to extract minerals on taxpayer-owned land.
Executives say Biden's goal to have 35% of U.S. electricity generated by solar panels - up from 3% today - would be all but impossible without new mines. Silver is used to make photovoltaic cells.
"This royalty proposal is really inconsistent with being able to grow production and meeting the demands for silver to green the economy," said Phil Baker, chief executive of Hecla Mining Co, the largest U.S. silver producer. Baker said he will close mines if the proposal is approved.
Miners say they already pay high income, sales and other taxes. They warned that the proposed royalty on gross profit would discourage investment when commodity prices rise and shorten a mine's life when prices fall.
The NMA declined to say what percentage royalty its members would find palatable. It said it would prefer a royalty on net, rather than gross, profit.
"New taxes on the front end of the supply chain undermine the EV battery goals that have been set by the president and Congress and make U.S. policy look schizophrenic," said Todd Malan of Talon Metals Corp, which is developing the Tamareck nickel deposit in Minnesota. Nickel is used to make EV battery cathodes.
The proposed new royalty rates would affect so-called hard rock mining, but are part of a series of other proposed fee hikes on oil, coal and natural gas extraction. The committee also approved language that would block Rio Tinto Ltd from building its Resolution copper mine in Arizona.
The NMA said it does support the committee's proposal to create a $3 billion reclamation fund for older abandoned mines.
Lithium Americas Corp, which is developing the Thacker Pass lithium mine on federal land in Nevada, said it stands ready to work with Congress to develop a "reasonable royalty for operating on public lands." Lithium is a key component of EV batteries.
"The current proposal will impair U.S. competitiveness when demand for lithium is soaring and the domestic production is just starting to respond," said Tim Crowley of Lithium Americas. (Reporting by Ernest Scheyder; Editing by David Gregorio)
xZx
3 년 전
trench metals, ticker TMC, is on the CVE, a canadian exchange.
"the metals company", ticker TMC, was just listed on the nasdaq and is an entirely different company.
i sent ihub admins a PM today because i tried to create a new board for "the metals company" but the system won't let me, because it says that ticker is already in use.
mabye we should avoid posting about both companies here until the mix-up gets sorted out.
it's frustrating because filings and even quotes for "the metals company" are being sent to this board.
maybe we should just change the name here, and remove "trench metals"? if so, all previous 1,079 posts will be for the other company.
crudeoil24
3 년 전
Trench Metals Completes Summer 2021 Exploration Program at Gorilla Lake Uranium Project, Athabasca, Saskatchewan, Canada
https://www.thenewswire.com/press-releases/1k6WFKEmV-trench-metals-completes-summer-2021-exploration-program-at-gorilla-lake-uranium-project-athabasca-saskatchewan-canada.html
Vancouver, Canada – TheNewswire - September 9, 2021 - Trench Metals Corp. (the “Company”) (TSXV:TMC), (FWB:33H2), (OTC:NVTQF) is pleased to announce the completion of the Phase 1, Summer 2021 exploration program at the Company’s wholly owned Gorilla Lake Uranium Project in northwestern Saskatchewan. In addition to detailed prospecting, the field crew has completed “project clear access”. This will provide the company complete access to the Gorilla Lake Uranium project for future development. A host of radioactive boulders were identified on the claims and a total of 74 rock and drill samples were collected and forwarded to SRC (Saskatchewan Research Council) for analysis. The highest scintillometer reading observed in the samples, utilizing RS-125 scintillometers, was 4400cps (counts per second). The Company is extremely pleased with these initial results. Assays results are expected in the near term.
Peter Born P.Geo., is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
crudeoil24
3 년 전
TMC the metals company Inc., formerly Sustainable Opportunities Acquisition Corp., is a deep-sea minerals exploration company focused on the collection, processing and refining of polymetallic nodules found on the seafloor of the Clarion Clipperton Zone of the Pacific Ocean (CCZ). The CCZ is a zone of abyssal plains and other formations in the Eastern Pacific Ocean, with a length of approximately 4,500 miles. The Company is focused on metal recovery from polymetallic nodules to support demand from battery and electric vehicle production through the development of a process that produces metals from the polymetallic nodules with zero solid processing waste. The Company's polymetallic nodule collection reduces the environmental and social impact of primary metal production, and a flow sheet that it expects could lead to the substantial reduction or elimination of tailings.
vortmaximum
4 년 전
December 8, 2020 – Vancouver, British Columbia – Trench Metals Corp. (the “Company”)
(TSXV: TMC) announces that Edward Lyons, a director of the Company, has passed away. The
board of directors expresses its deepest condolences to the family of Mr. Lyons, and its gratitude
for his contributions to the Company.
Following the passing of Mr. Lyons, the board of directors consists of Simon Cheng, Scott Davis
and Mark Ferguson.
For further information, contact Simon Cheng at simonchengnow+tsi@gmail.com.
vortmaximum
4 년 전
Excellent news TMC
TRENCH METALS CORP.
Suite 2200, 885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
NEWS RELEASE
TRENCH METALS ANNOUNCES CLOSING OF CHANGE OF BUSINESS TRANSACTION
November 4, 2020 – Vancouver, British Columbia – Trench Metals Corp. (formerly, Trench
Solutions Inc.) (the “Company”) (TSXV: TSI) is pleased to announce that it has closed its
previously announced change of business to a Tier 2 Mining Issuer (the “Change of Business”).
In connection with the Change of Business, the Company will also be completing a forward-split
of its common shares (the “Split”) and has changed its name to “Trench Metals Corp.” (the “Name
Change”).
Pursuant to the policies of the TSX Venture Exchange (“TSXV”), the Split is being conducted on
a “push-out” basis. All shareholders of record on November 10, 2020 will be entitled to participate
in the Split. Upon completion of the Split, the Company will have 36,066,735 common shares
outstanding. Further, the common shares are expected to begin trading on the TSXV on a postSplit basis at the opening of the markets on November 9, 2020 under the new ticker symbol
“TMC”.
Following the Name Change, the Company's CUSIP number changed to 89485U100 and its ISIN
is CA89485U1003. Shareholders are not required to take any action with respect to the Split or
the Name Change and are not required to exchange their existing share certificates for new
certificates bearing the Company’s new name. The Company's transfer agent, Odyssey Trust
Company, will send registered shareholders a Direct Registration System advice (DRS)
representing the additional number of shares to be received as a result of the Split.
https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00033599&issuerType=03&projectNo=03130363&docId=4825631
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