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Win us with honest trifles

The USA is a high risk jurisdiction for mining

If any LatAm country awarded an important permit to an exploration stage mining company and later down the line made the unilateral decision to suspend it, you’d never hear the end of the screaming and wailing from the industry. So what’s the difference with this, the cover note to the Trilogy Metals (TMQ) NR in my mailbox today?

Good day everyone,

We have just issued a press release regarding the decision of the United States Department of the Interior’s (“DOI”) decision to suspend the permits for the Ambler Access Project. The DOI has stated that they have suspended the permits so that they can carry out additional work to fix perceived flaws in the existing Environmental Impact Statement (“EIS”) related to Subsistence matters and to Cultural matters. We believe this additional work on the EIS will bring us closer to the development of the AAP

That’s the sound of The USA telling mining companies that their permits aren’t worth the paper on which they’re written. How is any backer supposed to trust a country under these circumstances? Why even bother trying to move a project forward, when some-or-other department bureau chief can swoop in at any moment and reverse the whole process at whim? In this case, we’re talking about permits awarded in 2021 after a slow and rigorous five year track that followed the process to the letter. And now that doesn’t count, because…lawsuit? Because moose? Because of what, exactly? Wasn’t five years enough to work this out?

Imagine Peru, Mexico, Brazil, Chile, Colombia or Argentina trying a trick like this! You’d be howling for blood, accusing one political stripe of Commie Bedwetting, the other side of rampant cronyism and corruption. You’d make loud protests about ever sending a single penny of your cash their way again so I repeat the simple question, what’s the big difference here?

11 Comments

    Unbelievable. Might as well hold at this point and see how it plays out.

    Reply

    after three more years of Biden (if he lasts that long) trying to appease the radical neolibs and alienating himself from the dem base, a republican will get the win in and reverse most of the kowtowing to the green new deal crowd, and projects like Ambler will get back on track. so longer than originally planned long.

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    Resolution, Rosemont, Pebble (never minding the joke that is Hunter Dickinson), Polymet, now this? The US hasn’t been safe for years, but it won’t stop the Twitterati from wetting itself with excitement any time the administration (whether D or R) pays lip service to Domestic Mineral Production.

    Reply

      Today’s is the worst of the list, though. Full due process over multiple years and permit awarded, only to be snatched back a year later and yeah, the same time as grand falutin’ plans about The USA becoming REE independent (to name just one). I’m all for careful control of mining’s environmental impact and agree you can’t just build a mine anywhere, but this is another level of scandalous.

      PS: Electrum got whacked by GATO, now this. While different beasts, both are total left-field hits.

      Reply
    Tim Saskatoon, Saskatchewan 23/02/22 4:41 pm

    After spending 30 years in this mining business I have sold all stocks I have in the mining space and just focus on oil and gas these days. Doug Beattie.

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    This a is a major political blunder for Biden. He needs support from moderate republicans like Murkowski and he just stabbed her in the back.

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    Not surprising where our country is heading. Alot of people want to act like the third world & vote that way so we are getting it. So much for “Tier 1” in the US. Have to now weigh federal vs state in the US on how things will go.

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    American environmentalists are practicing what I call “Environmental Colonialism” (EC). Polymet, Talon Metals, Trilogy and that crappy co with Pebble are all intending to produce metals for the energy transition.

    But instead of producing them in America where the demand will be high, the American Enviro’s say we want to be clean but you can do the mining in your country.

    EC is more disgusting than a person who burns tires and dumps motor oil in the ocean for fun.

    Reply

      Agreed.

      I’ll add that there are two sides to the have cake/eat cake, as local residents in developing nations are not allowed to compare their own living conditions to those they supply.

      Reply

    The detail you identified Mark is the most disgusting part. Its the killing of the slaughtering of beavers and the First Nations way of life to make hats for Euros version of today.

    Reply

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