Silver Wheaton pays $800 million to get more gold

The Salobo copper and gold mine in Brazil

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Silver Wheaton now has rights to 75 per cent of a Brazilian mine’s production. The Vancouver-based company, which buys “streams” of future production from miners, is spending US$800-million for rights to an additional 25 per cent of the gold produced from the Salobo mine owned by a subsidiary of Vale SA. It previously had rights to 50 per cent.  (The Globe and Mail)

A green future needs mined elements. Resources will always have a place in the B.C. economy, writes Stewart Muir, executive director of the Vancouver-based Resource Works Society. Technology is driving improvements in how resources are used and how our tight land base can be managed responsibly. (Vancouver Sun)

The pros and cons of new federal permits for the Site C dam. Mainly the cons: First Nations groups are opposed, and fertile farmland will be lost. This is part of a broader plan to eventually get the B.C. Liberal government to consent to the Kinder Morgan pipeline, writes Charlie Smith. (The Georgia Straight

Canadian lumber sales are booming thanks to U.S. home-building. That could mean higher tariffs for Canadian lumber exporters in the softwood lumber agreement due to be ironed out by October. (Bloomberg)

Petronas may delay its Pacific NorthWest LNG project, but there’s no word on how long. The oversupply of LNG and lower oil and gas prices have apparently made the project unattractive. (