My presentation to the Informa Arctic Shipping Forum 2015 on the state of mining and petroleum development in the North American Arctic and Greenland (relevant to shipping)

1. A Marine Management Company
www.tactmarine.com
Tac$cal
Marine
Solu$ons
Ltd.

2. Informa
Arc$c
Shipping
Forum
Arc$c
Mining
and
Petroleum
Prospects
2
Applied Knowledge
Dermot Loughnane
Tactical Marine Solutions Ltd.

3. Introduc$on
• Objec(ve
• Sources
• Mood
• Regions
– Mining
Canada
– O&G
Canada
– O&G
Greenland
– Mining
Greenland
• Ques(ons
3
Applied Knowledge

4. Projects
in
Development
4
Applied Knowledge

5. Canadian/American
Arc$c
5
Applied Knowledge
Eka$
(diamonds)
Meadowbank
(gold)
CanTung
(tungsten)
Diavik
(diamonds)
Snap
Lake
(diamonds)
Mary
River
(iron)

6. Canadian/American
Arc$c
6
Applied Knowledge
Hope
Bay
(gold)
High
Lake
(base
metals)
Meliadine
(gold)
Roche
Bay
(iron)
HackeL
River
(base
metals)
Kiggavik
(uranium)
Ulu
(gold)
Selwyn
(base
metals)
Prairie
Creek
(base
metals,
silver)
Gahcho
Kue
(diamonds)
Nechalacho
(rare
earths)
YK
Gold
(gold)
NICO
(gold,cobalt,
bismuth)
Pine
Point
(base
metals)
Courageous
(gold)
Back
River
(gold)
Izok
(base
metals)
Lupin
(gold)
Jericho
(diamonds)

7. Baffinland/Mary
River
• Development
– Mine
• Type
– Iron
ore
• Name
– Mary
River
• Area
– Qikiqtaaluk/Baffin
• Shipping
– Suezmax
export,
resupply,
July/October
• Status
– Progressing
in
early
revenue
phase
• Commencement
– September
2014,
shipping
May
2015
• Source
– Company/company
site/CoM
7
Applied Knowledge
• Ini(al
mining,
trucking
and
shipping
of
3.5m
tonnes
• Goal
to
eventually
increase
to
18m
tonnes
• Supramax,
Panamax
and
post
Panamax

8. Baffinland/Mary
River
• Phase
2
– Delaying
full
implementa(on
– In
order
to
demonstrate
“quality
and
demand”
Phase
2
will
increase
output
to
7.8mtpa
– Longer
season
with
transhipping
in
Eclipse
Sound
July/October
and
Greenland
June/July
and
October/March
8
Applied Knowledge

9. Westar/CSCC
9
Applied Knowledge
• Development
– Mine
• Type
– Coal
• Name
• Area
– Qikiqtaaluk/Baffin
• Shipping
– Unknown
• Status
– Early
development
• Commencement
– Not
found
• Source
– h`p://www.weststarresources.com/s/
NunavutCoal.asp
• A
very
long
shot
given
the
shipping
required
and
the
commodity
being
shipped.

10. Advanced
Ex./Roche
Bay
10
Applied Knowledge
• Development
– Mine
• Type
– Iron
ore
• Name
– Roche
Bay
• Area
– Qikiqtaaluk/Baffin
• Shipping
– Arc(c
Class
3
Panamax
export
– 8-­‐9
month
window
– Transhipment
op(ons
• Status
– Signed
agreement
with
Logistec
on
shipping
• Commencement
– Not
found
• Source
– Company
– www.advanced-­‐explora(on.com
• Signed
agreement
with
Parkson
Star
(HK)
to
advance
development
• New
en(ty
will
be
20%
AEI/80%PS

11. Canadian
Royal$es/Nunavik
Nickel
11
Applied Knowledge
• Development
– Mine
• Type
– Nickel
• Name
– Nunavik
Nickel
• Area
– Nunavik
• Shipping
– Fednav
opera(ng
their
new
vessel
“Nunavik”and
through
the
NWP
2014
• Status
– Shipment
via
NWP
Sept
2014
to
China
• Commencement
– Mine
commissioned
September
2014
• Source
– h`p://www.canadianroyal(es.com/
• Taken
over
by
Jilin
Jien
Nickel
Industry
Co.
Ltd.
in
2010
• Financial
difficul(es,
Toronto
merchant
bank
brought
in
to
manage

12. MMG/Izok
Corridor
Project
12
Applied Knowledge
• Development
– Mine
• Type
– Lead/zinc/copper
• Name
– Izok
Lake
• Area
– Ki(kmeot
• Shipping
– Panamax
export,
resupply
– Open
water/shoulder
scenario
• Status
– Feasibility
review
• Commencement
– Not
found
• Source
– Company/web/CoM
• Review
halted
to
revisit
economics
• Will
now
be
Izok,
High
Lake
and
Hood
river
• All
hangs
on
road
construc(on,
who
pays
and
who
takes
it
out?

13. MMG/Izok
Lake
13
Applied Knowledge

14. Corona$on
Gulf
Ports
14
Applied Knowledge
Project
Owner(s)
Commodity
Status
Hackett River Glencore Canada Zinc, Silver,
Copper,
Lead
Seems to have gone quiet
of late.
Back River Sabina Gold &
Silver
Corp.
Gold Final EIS in 2015
ULU & Lupin Elgin Mining Inc.
Manderlay
WPC Resources
Gold “In transition”.

15. TMAC/Doris/Hope
Bay
15
Applied Knowledge
• Development
– Mine
• Type
– Gold
• Name
– Doris/Hope
Bay
• Area
– Ki(kmeot
• Shipping
– Resupply
likely
• Status
– Produc(on
decision
in
2015
• Commencement
– End
of
2016?
• Source
– Company/CoM
• Raised
es(mate
of
gold
ore
• Feasibility
study
should
be
completed
by
March
2015

16. ASRC/Coal
16
Applied Knowledge
• Development
– Mine
• Type
– Coal
• Name
• Area
– Pt
Lay/Pt
Hope
• Shipping
– Export
• Status
– “ASRC
seeks
a
development
company
to
explore
and
develop
its
coal
deposits
located
on
its
lands
in
the
western
Arc(c.”
• Commencement
– Unknown
• Source
– h`p://www.asrc.com/Lands/Pages/Coal.aspx
• 2
billion
tons
of
ultra
low
sulfur
coal
within
6
miles
of
(dewater

17. Oil
Explora$on
17
Applied Knowledge

18. Shell/Chukchi
18
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Burger
• Area
– Chukchi
• Shipping
– Too
early
to
tell
• Status
– If
all
approvals
obtained
returning
to
drill
summer
2015
• Commencement
– Unknown
• Source
– Company
• “We
are
minded
to
drill
this
year
in
the
Chukchi,”
he
told
reporters
on
an
earnings
call
Thursday
morning.
“We
have
retained
a
very
significant
capability
to
be
ready
for
this
year
to
go
ahead.”

19. Shell/Beaufort
19
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Sivullik
• Area
– US
Beaufort
• Shipping
– Unknown
• Status
– If
all
approvals
obtained
returning
to
drill
summer
2015
• Commencement
– Unknown
• Source
– Company
• Shell
must
secure
drilling
permits
for
individual
wells
and
its
contracted
drilling
rigs
must
clear
a
Coast
Guard
review.

20. Statoil/Chukchi
20
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Amundsen
• Area
– Chukchi
• Shipping
• Status
– Seismic
and
seabed
surveys
completed
• Commencement
– Not
before
2015
• Source
– Company
• “Whether
that
means
we
drill
in
2015,
or
maybe
not
un(l
2016
or
whether
we’d
drill
at
all,
I
think
maybe
the
jury’s
s(ll
a
li`le
bit
out
on
that.”

21. Conoco
Phillips/Chukchi
21
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Devils
Paw
• Area
– Chukchi
• Shipping
• Status
– Paused
un(l
amer
2014
• Commencement
• Source
– Company
• “Wai(ng
for
the
regulatory
environment
to
gain
some
clarity”
• Nothing
announced
yet
for
2015

22. Conoco
Phillips/Beaufort
22
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Amauligak
• Area
– Canadian
Beaufort
• Shipping
– Likely
to
be
high
ice
class
tankers
• Status
– Midst
of
first
3
year
study
• Commencement
– 15+
years
• Source
– Company
• Largest
oil
discovery
in
the
Canadian
Arc(c
(235
mmbbl
and
1.6
tcf)

23. Conoco
Phillips/Beaufort
23
Applied Knowledge

24. Imperial
Oil/BP/Beaufort
24
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– Ajurak/Pokak
• Area
– Canadian
Beaufort
• Shipping
• Status
– Ini(al
planning/regulatory
assessment
• Commencement
– 20+
years
• Source
– Preliminary
informa(on
package
– Google
and
interviews
•
S(ll
proceeding
with
aim
to
drill
in
2020

25. Chevron/Beaufort
25
Applied Knowledge
• Development
– O&G
• Type
– Petroleum
• Name
– EL-­‐481
• Area
– Canadian
Beaufort
• Shipping
– Likely
to
be
high
ice
class
tankers
• Status
– 3D
seismic
acquired
in
2012
• Commencement
– 20+
years
• Source
– Company
and
interviews
• In
December,
Chevron
Canada
Ltd.
told
the
Na(onal
Energy
Board
it
was
puong
its
Arc(c
drilling
plans
"on
hold
indefinitely,"
ci(ng
"uneconomic
certainty"
as
one
of
the
reasons

26. Shell/Greenland
Oil
• Shell
– 2012
Program
• 3D
seismic
acquisi(on
• Shallow
coring
– Statoil,
Dong
and
GDF
Suez
have
all
handed
back
licenses
in
the
same
area
26
Applied Knowledge

27. Cairn/Greenland
Oil
• Cairn
Energy
– Ini(al
wells
completed
-­‐
no
major
discovery
announced
– No
further
drilling
announced,
company
is
focusing
on
other
assets
27
Applied Knowledge

28. Greenland
Mining
• Greenland
mining
– Nuna
Minerals
• Financing
difficul(es
– Ironbark
• Turnkey
arrangement
with
NFC
for
lead/zinc/copper
– London
Mining
• Transferred
to
General
Nice
Development
of
HK
– True
North
Gems
• Construc(on
September
2014
28
Applied Knowledge

29. NAN/Maniitsoq
29
Applied Knowledge
• Development
– Mine
• Type
– Nickel
• Name
– Imiak
• Area
– SW
Greenland
• Shipping
– Export
and
resupply
likely
• Status
– Ongoing
feasibility
• Commencement
– Unknown
• Source
– www.northamericannickel.com/projects/
greenland/maniitsoq/default.aspx
• On
September
12
2013,
the
Company
announced
a
new
discovery
with
drill
hole
MQ-­‐13-­‐029.

30. GME/KvaneZeld
30
Applied Knowledge
• Development
– Mine
• Type
– Rare
earths
(uranium)
• Name
– Kvaneqeld
• Area
– SW
Greenland
• Shipping
– Export
and
resupply
likely
• Status
– Feasibility
study
Q1
2015
• Commencement
– Unknown
• Source
– www.ggg.gl/projects/kvaneqeld-­‐rees-­‐
uranium-­‐zinc/feasibility-­‐program/
• Project
overall
resource
inventory:
956
Mt
• Largest
repository
of
rare
earths
outside
of
China
• Formed
j/v
with
China
NFC

31. Contact
Us
31
Applied Knowledge
Tactical Marine Solutions Ltd.
4906 Alamida Crescent
Victoria, B.C. V8T 2C1 Canada
Phone:
+1 (250) 388-7882
+61 (2) 8014-7216
Fax:
+1 (604) 909-4675
Email: info@tactmarine.com
Website: www.tactmarine.com