News

November 09, 2009

Greater Accessibility To Canada’s Far North Opens Up The Possibility Of More Investment From The Far East

By Chris Davis

Thirty years ago mere mention of mining exploration in the northern reaches of Canada would have elicited spasms of laughter. Whispers about the orator’s sanity would soon have followed, and straightjackets put on order. That was then, and this is now. In a climate of rising metals prices, greater accessibility, and technological advance, Canada’s Far North isn’t looking so far anymore. Better yet, it is attracting attention from the Far East. The best recent evidence of this is Jien Canada’s C$192 million offer for Canadian Royalties Inc. One can only speculate which of Canadian Royalties’ neighbours will find itself in the sights of another Asian mining giant next.

Jien Canada is a joint-venture between China’s second largest nickel producer, Jilin Jien Industry Co., and Vancouver-based TSX Venture-listed Goldbrook Ventures. What the joint venture is principally after in its bid for Canadian Royalties is the Nunavik nickel project. Canadian Royalties has been working up Nunavik since 2001, and after a hiatus last year, is investigating ways of getting into production soon. The project currently boasts just over 21.6 million tonnes grading 0.93% nickel and...