At a time when job opportunities in the USA are few and far in between, Canadian firms are patiently waiting for approval of a number of mining projects in the USA. The 10 examples below are projected to create 3,000 direct employment opportunities and approximately 22,000 indirect service related jobs. These high paying jobs will provide employment ranging from 5 to 20 years.
1. Duluth Metal (OTCPK:DULMF) has a 60% interest in the Nokomis Mine in Minnesota.
It has a Ni 43-101 compliant Indicated resource of 7.75 Blbs Cu @ 0.639%, 2.43 Blbs Ni @ 0.20% , 121.26 Mlbs Co, 3.11 Moz Pt, 6.93 Moz Pd, 1.63 Moz Au, 11.67 Moz TPM (Pt + Pd + Au) and 37.42 Moz Ag as well as an inferred resource of 3.82 Blbs Cu, 1.25 Blbs Ni, 60.37 Blbs Co, 1.63 Moz Pt, 3.60 Moz Pd, 0.80 Moz Au, 6.03 Moz TPM (Pt + Pd + Au) and 18.10 Moz Ag.
The Nokomis Mine is estimated to create 800 construction jobs per year for 2 years, 500 permanent jobs and an estimated 5,500 indirect service related jobs.
This project was been waiting for government approval for 5 years.
Its subsidiary, Franconia Minerals, is currently developing the Birch Lake Mine in Minnesota. It has a Ni 43-101 compliant Indicated resource of 2.06 Blbs Cu, 2.93 Blbs Ni, 1.36 Moz Pt, 2.93 Moz Pd and 0.67 Moz Au. It currently completing its feasibility stage, permitting is scheduled for later this year, construction in 2012 & 2013 with production beginning in 2014 Q4.
The Birch Lake Mine has an anticipated mine life of 20 years.
It is estimated to create 800 construction jobs per year for 2 years, 550 permanent jobs, 5,550 estimated indirect service related jobs.
These two projects, along with the Maturi Deposit & Spruce Road Deposit, are collectively known as the Twin Metals Project. The Twin Metals Project has a mine life of 20 years and a 23% IRR with a payback of 4 years (base case).
Duluth Metals stock is listed on the TSX and trades between 1.86$CDN and 3.20$CDN with a current P/B ratio of ~1.757.
2. Polymet Mining (NYSEMKT:PLM) controls 100% of its NorthMet Project in Minnesota. It has a Ni 43-101 P & P compliant resource of 3.445Blbs Cu @ 0.27%, 1.1BlbsNi @ 0.09% Ni and 6.4Moz Pt,Pd& Au @0.01oz/MT.
The NorthMet Project is estimated to create 300 construction jobs per year for 3 years, 300 permanent jobs and an estimated 3,000 indirect service related jobs.
The NorthMet Project has an anticipated mine life of 20 years with a 30.6% IRR.
This project is in the late stages of environmental review and permitting process.
Polymet Mining stock is listed on the TSX and trades between 1.26$CDN and 2.61$CDN with a current P/B ratio of ~2.143.
3. Formation Metals (FMETF.PK) is the 100% owner of the Idaho Cobalt Project. The Ni 43-101 compliance resource in the P&P category is 29.5 Mlbs Co @ 0.56%, 31.4 Mlbs Cu @ 0.57%, 37,000 ozAu@ 0.014 oz/ton.
The project has a mine life of 10 years and an IRR of 22.3%.
Production is scheduled to begin in 2012 Q2. It shall produce 3.3% of the total of the world demand for Cobalt.
The mine & processing facility are currently under construction and will employ 190 permanent jobs and is projected to generate an estimated 1,900 indirect service related jobs.
Formation Metals stock is listed on the TSX Venture exchange and trades between 0.75$CDN and 2.76$CDN with a current P/B ratio of ~0.601.
4. Quantum Rare Earth Developments (QREDF.PK) is the 100% owner of the Elk Creek Niobium Carbonatite Mine in Nebraska. It has a Ni 43-101 INF compliant resource of 83 M MT of 1.087Blbs Nb2O5 @ 0.62%.
The mine is estimated to create 150 construction jobs per year for 3 years, 100 permanent jobs and an estimated 1,000 indirect service related jobs.
Mine production is not planned to begin for another 5 years, though Niobium despite the National Strategic & Critical Minerals Policy Act of 2011.
Quantum Rare Earth Developments is listed on the TSX Venture exchange and trades between 0.235$CDN and 0.72$CDN with a current P/B ratio of ~0.931.
5. Nevada Copper (OTC:NEVDF) is the 100% operator of the Pumpkin Hollow Mine in Nevada. It has a Ni 43-101 resource of 9.3Blbs Cu @1.88%, 1.45 moz Au, 55 moz Ag and 130 m tons FE.
The Project is estimated to create 445 construction jobs per year for 2 years, 300 permanent jobs and an estimated 3,000 indirect service related jobs.
The project mine and mill is expected to begin construction in 2017 and has an anticipated mine life of 24 years with a 25.3% IRR.
This project is in the late stages of exploration after recently being granted its water licence.
Nevada Copper stock is listed on the TSX Venture exchange and trades between 2.67$CDN and 6.42$CDN with a current P/B ratio of ~5.084.
6. Western Lithium (WLCDF.PK) is the 100% operator of the Kings Valley Project in Nevada. It has a Ni 43-101 M&I resource of 37 mMT of Li2O3 @0.87% and inferred resource of 24 mMT @ 0.83% Li2O3. The Pre-feasibility Study is expected to be completed in 2011 Q3.
The project expects to employ 200 permanent jobs in 2014 with an anticipated 2000 indirect service related jobs.
Western Lithium stock is listed on the TSX and trades between 0.475$CDN and 1.64$CDN with a current P/B ratio of ~1.811.
7. Orvana Minerals (OTCPK:ORVMF) is the owner / operator of the Copperwood Project in Michigan. It has a M & I resource of 1.08 Blbs Cu @ 1.65% plus 4.3 g/t Ag and INF resource of 67 mlbs Cu @ 1.07% plus 2.0 g/t Ag.
The 43-101 compliant project is currently in the Pre-feasibility stage and has a projected 14 year mine life. The projected mine start-up date is 2013.
The project expects to employ 300 permanent jobs with an anticipated 3000 indirect service related jobs. The construction workforce is expected to between 300-500 persons.
8. Energy Fuels (EFRFF.PK) Energy Fuels is the owner / operator of the Pinon Ridge Mill located in Utah. It shall process Uranium and Vanadium ore producing a concentrate suitable for further processing.
The mill recently received EPA approval and is expected to startup in 2013.
It project shall create 85 permanent jobs and 230 indirect jobs. In addition, it shall create an additional 200 mining and associated jobs in the local area supplying new sources of ore to the mill.
9. Aurcana Corporation (OTCPK:AUNFF) is the owner / operator of the Shafter Silver Project located in Texas. It has a 43-101 compliant M & I resource of 24.6 moz Ag @ 8.48 oz/t and an INF resource of 22.8 moz Ag @ 10.52 oz/t.
The mine is currently under construction and is expected to be completed in mid 2012.
It is expected to create 400 permanent jobs and 400 indirect jobs.
The mine life is expected to be 5 years.
10. Augusta Resource (NYSEMKT:AZC) is the owner of the Rosemount Project located in Arizona. It has a total reserve of 5.15B lbs of Cu at 0.42% Cu, 161 mlbs Mo @ 0.015% ans 65 moz Ag @ 0.12 /t.
The project has completed the Feasibility Study with production expected in 2013. The mine life is expected to be 20 years.
Job contribution is expected to be 4,200 jobs for the U.S. during production. Construction would average 11,600 person-years.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.