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First Majestic buys Nevada gold mine from Sprott - The Northern Miner

First Majestic buys Nevada gold mine from Sprott Jerrit Canyon mine in northern Nevada. ( First Majestic Silver (TSX: FR; NYSE:AG) is buying the Jerritt Canyon gold mine in Elko County, Nevada, from Sprott Mining for US$470 million in shares and five million share purchase warrants. As part of the deal, Sprott Mining President Eric Sprott will complete a US$30 million private placement investment in First Majestic. The Canadian miner said it had identified opportunities to enhance the mine’s cost and production profile, as well as near-term brownfield potential between the SSX and Smith mines. Jerritt Canyon was discovered in 1972 and has been in production since 1981. The asset has delivered more than 9.5 million ounces of gold. Last year, it produced 112,749 ounces of gold at a cash cost of US$1,289 per ounce.

Coal Co Says $470M Claim Against Canada Falls With NAFTA

ADVERTISEMENT ADVERTISEMENT Coal Co. Says $470M Claim Against Canada Falls With NAFTA Law360 (March 12, 2021, 7:46 PM EST) Westmoreland Mining Holdings LLC, which was impacted by Canada s fast-tracked environmental initiatives, argued to the International Centre for Settlement of Investment Disputes that its $470 million compensation claims belong with a North American Free Trade Agreement tribunal, refuting Canada s arguments. Westmoreland initiated arbitration against Canada after the province of Alberta pushed up its coal phase-out date from 2050 to 2030 and compensated Canadian coal companies for the impact on their businesses but excluded Westmoreland, a U.S.-headquartered mining company with an Alberta location. The company in its Thursday counter-memorial blasted Canada s argument that, due to a bankruptcy proceeding, it is no longer.

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