Latest news with #goldmining
CBC
4 hours ago
- Health
- CBC
Mercury poisoning in Peru's Amazon found in nearly 80 per cent of villagers in recent study
Indigenous and riverine communities in the Loreto region of the Peruvian Amazon have "chronic exposure" to mercury, according to a new study — and experts say the biggest culprit is gold mining in the region. The test results released this month by the Center for Amazonian Scientific Innovation at Wake Forest University (CINCIA) in the United States show nearly 80 per cent of the people tested late last year had levels of mercury far above the safe limits in six communities on the banks of the Nanay and Pintuyacu rivers. "The majority of the population is contaminated," said Jairo Reategui Davila, the Apu, or leader, of San Antonio de Nanay, one of the tested communities. "We call on the authorities to take action on the matter because we are very concerned," he said. The results showed 37 per cent of the 273 men, women and children tested had levels of mercury at more than 10 ppm (parts per million) in their hair, compared to just three per cent under the 2.2 ppm limit established by the World Health Organization (WHO). How did so much mercury get in the environment? The central factor is a lust for gold, according to scientists and officials. Gold prices have soared by nearly 50 per cent in the last year, beating successive record highs, and encouraging a flourishing illegal gold mining trade in the Amazon, where illegal miners use mercury to extract gold particles from the river silt. After the gold is extracted, these mining operations burn off the mercury, turning the toxic metal to vapour that is absorbed by surrounding plants, soil and rivers, said Claudia Vega, head of the mercury program at CINCIA, damaging local nature and biodiversity and raising significant health concerns. Mercury poisoning is associated with several health issues, including cognitive impairment in adults and irreversible developmental delays and learning difficulties for children and babies in the womb. Gabriel Barría, regional coordinator for heavy metals for the local health authority, said it was "very regrettable that villagers were highly contaminated" and blamed the spread of illegal gold mining for the mercury levels in Amazon rivers. He said the health authority did not have the budget to carry out tests for mercury and had only tested 12 villagers on a recent health visit relying on blood and urine samples. Exceeding the limit CINCIA said tests revealed an average level was 8.41 ppm, exceeding the WHO limit by nearly four times. Given that illegal mining in Loreto is fairly recent, there are no comprehensive studies on its health impact on the local population yet. But the levels in these initial tests are already higher than those in the Peruvian Amazon region most impacted by illegal gold mining, Madre de Dios, where 2012 tests showed the majority of adults had average mercury levels of 2.7 ppm. Communities along the Amazon have had to deal with illegal gold mining operations for decades, but it's become a mounting problem in South America in recent years despite governments attempting to crack down on them. In 2023, Colombia, Brazil and the U.S. teamed up to destroy 19 illegal gold mining dredges in the Amazon rainforest. Around 114,000 grams of mercury was being dumped into the river every month at these sites, which authorities said were run by a transnational criminal group. Luis Fernandez, executive director of CINCIA and research professor at Wake Forest University, said if illegal mining continued to spread in Loreto, then villagers with already high mercury levels might begin to approach those close to the worst-recorded cases of mercury contamination. This includes Minamata Bay, the renowned case in Japan in the 1950s, where children were born with congenital deformities and neurological disabilities caused by a chemical factory dumping mercury into the water supply for decades. Vega from CINCIA, who led the study, said the results showed worrying "background" levels of mercury in the Loreto riparian communities. The villagers' fish-based diet was the biggest vector for the mercury entering their systems, Vega said. While this particular study couldn't fully determine if the mercury came from naturally occurring sources or human-caused activities like illegal gold mining, she noted that "several studies agree that the entry of mining into a territory tends to significantly increase mercury levels in the environment." The villagers tested for this newly released study were mainly exposed to methylmercury, researchers found, a highly toxic form that accumulates in the body. "[The] greatest risk is for pregnant women and children: methylmercury can cross the placenta and affect the development of the developing baby's brain," Vega said. "This type of exposure is a serious public health concern, even if affected individuals do not show immediate symptoms."
Yahoo
21 hours ago
- Yahoo
Gold prospector's incredible find in 'remote' Aussie bush
An Aussie prospector has pulled gold nuggets out of the ground, and found old relics like a silver-plated bobby pin, and even old coins. But the most remarkable thing he's ever stumbled across is an ancient ruin in the bush. 'Locals have always kept quiet about it, and it's pretty remote,' prospector Bart van Uyen told Yahoo News after an expedition to photograph the site. The structure's symmetrical brick walls tower over three metres from the ground, almost resembling an Aztec temple. However, it's never had a mythological use — its purpose was purely industrial. Back in 1887 when the walls were built, a large wheel was placed between them, and when it spun, it powered the Bendigo and Fryers Goldmining Company's large stamp battery — a device used for crushing ore to extract gold. Related: ⚱️ Aussie prospector reveals secret maps to find fortune You won't find the Mopoke Gully water wheel in tourist brochures. But locals living close by, in a tiny town south of Castlemaine in Victoria, know where to find it. And in recent years, a few online posts have popped up about its history. Yahoo has chosen not to publicise its exact location. Bart has been visiting the ruin for a few years, and it has a special place in his heart. When he first saw it, much of the state had been locked down due to the Covid-19 pandemic, and stumbling upon something so unexpected while he was searching for gold left him 'amazed'. 'I was travelling around doing some prospecting. I tend to go down every dirt track possible, and it was just sitting there,' he said. The structure is similar to the better-known Garfield water wheel, which attracts history buffs from around the country. That one is in a state park, while the Mopoke Gully water wheel is on private land which Bart has permission to enter. Both structures were built in 1887, but the wheels themselves were disassembled in the early 1900s. It's seen better days, and it's covered in moss, but that's all part of its charm. 'Standing inside it is awesome, it's such an impressive thing. There's gorgeous bushland around it. 'It's great to see something like that still intact,' he said. 📸 Rare find inside ancient cave after tourists banned for years 🏊 'Shocking' find after 200-year-old bluebottle jellyfish theory investigated 🥶 Tradies unable to work and pipes freeze in icy Aussie town Bart likes to imagine what life was like back in the gold rush, and their work ethic and sense of adventure leave him in awe. 'It's quiet there now. But I just imagine the hustle and bustle around that place when it was going,' he said. 'People risked life and limb to come to Victoria to dig for gold. People died, others made money, some went broke.' Love Australia's weird and wonderful environment? 🐊🦘😳 Get our new newsletter showcasing the week's best stories.
Yahoo
a day ago
- Business
- Yahoo
Meeka Metals secures $39m for Murchison gold project expansion
Australian gold mining company Meeka Metals has received firm commitments to secure A$60m ($39m) through a placement backed by both existing and new institutional investors. The funds raised will be directed towards accelerating the next phase of development at the Murchison gold project in Western Australia (WA). The placement was conducted at A$0.15 per share, representing a 4.1% discount to the 20-day volume-weighted average price (VWAP) and a 10.3% discount to the ten-day VWAP. Meeka Metals will issue a total of 400 million shares under the placement, utilising its existing capacity under ASX Listing Rules 7.1 and 7.1A. All new shares issued will rank equally with the current shares. Meeka managing director Tim Davidson said: 'With this funding in place the company is now focused on maximising the expanded open-pit mining opportunity, confirming the pathway to bring forward production with increased processing capacity and defining further growth opportunities with the drill bit.' The proceeds from the placement, combined with Meeka Metals' existing cash reserves, are earmarked for several strategic growth initiatives. These include the expansion and acceleration of open-pit operations through the mobilisation of a third mining fleet, acceleration of underground drilling programmes and the validation of a processing expansion pathway that exceeds the current capacity of 600,000 tonnes per annum (tpa). Petra Capital served as the sole lead manager and bookrunner for the placement, with Morgans Corporate acting as a co-manager. The Murchison gold project, which received final approval for development in September 2024, houses a large, high-grade, 1.2 million ounces at three grams per tonne gold mineral resource on granted mining leases. The project's definitive feasibility study released in December 2024 focuses on restarting the fully permitted Andy Well mill. The study outlined a ten-year production plan at up to 76,000oz per year. "Meeka Metals secures $39m for Murchison gold project expansion" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
Barrick's Future in Mali Hinges on Key Gold Mine Permit Renewal
One of the next major hurdles in Barrick Mining Corp. 's saga in Mali will be renewing a key gold mining license, after the state temporarily took over the vast Loulo-Gounkoto complex this week. The permit for Loulo, where processing facilities are located, expires in February, shortly after the period of provisional administration is supposed to end. Barrick filed a renewal request four months ago, a spokesperson for the company said, adding that a separate license for Gounkoto runs for another 17 years.
Globe and Mail
a day ago
- Business
- Globe and Mail
AEM's Reserve Growth Spurs Confidence: Can It Keep Drilling Success?
Agnico Eagle Mines Limited AEM made substantial efforts in the first quarter for the continuation of its mineral reserve replacement, a critical metric reflecting growth potential. At the end of 2024, AEM boosted its proven and probable gold reserves by 0.9% year over year to 54.3 million ounces. More notably, inferred mineral resources expanded around 9% to 36.2 million ounces, thanks to successful exploration drilling at Detour Lake, East Gouldie, Hope Bay, Meliadine, Fosterville and Macassa. Year-end expansion set a strong foundation, and the first quarter of 2025 saw further progress as drilling campaigns advanced key projects. During the quarter, AEM continued exploration drilling to extend the East Gouldie deposit at Canadian Malartic to the east and extend the newly discovered Eclipse zone. Underground conversion drilling into the upper eastern extension of the East Gouldie deposit also indicated potential to add mineral resources and mineral reserves to East Gouldie by the end of 2025. At Hope Bay, shallow drilling at Patch 7 also suggests the potential for mineral resource expansion. Drilling at the Marban deposit, added through the acquisition of O3 Mining, also focuses on mineral reserve and mineral resource expansion. Agnico Eagle's initiatives in expanding its reserve base and inferred resources position it as a growth-oriented player among major peers. Maintaining drilling pace and converting potential into formally declared reserves through 2025 will be key, as it constitutes a critical barometer for long-term growth. Among its peers, Newmont Corporation NEM logged gold reserves of 134.1 million attributable ounces at the end of 2024 (including assets held for sale), a 1.3% decline from 135.9 million attributable ounces a year ago, weighed down by depletion and unfavorable revisions. Newmont's go-forward Tier 1 portfolio included 125.5 million attributable gold ounces. While Newmont's overall reserve base remains substantial, the lack of growth raises red flags. Barrick Mining Corporation B reported robust growth in reserves, with its proven and probable gold mineral reserves climbing approximately 17.4 million ounces in 2024, a clear sign of strong reserve replacement. Barrick's attributable proven and probable mineral reserves were at 89 million ounces at the end of 2024, up from 77 million ounces a year ago. Barrick demonstrates proactive exploration and conversions, insulating its reserve profile from near-term production drawdowns. The Zacks Rundown for AEM Agnico Eagle's shares have rallied 56.8% year to date against the Zacks Mining – Gold industry's rise of 56.4%, driven by the record-setting upside in gold prices. From a valuation standpoint, AEM is currently trading at a forward 12-month earnings multiple of 20.27, a roughly 42.6% premium to the industry average of 14.21X. It carries a Value Score of C. The Zacks Consensus Estimate for AEM's 2025 and 2026 earnings implies a year-over-year rise of 42.6% and 0.8%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days. AEM stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Mining Corporation (B): Free Stock Analysis Report
