Category
Industry
Barrick explores sale of Zambian copper mine as government looks to boost taxes
TORONTO – Barrick Gold Corp. says it’s exploring all options including the possible sale of its Lumwana mine in Zambia as the government considers increased taxes. While acknowledging that the government is under pressure to increase revenue, company chief operating…
Canada’s wholesale and manufacturing sales fell in November: Statistics Canada
OTTAWA – The Canadian economy showed signs of weakness in November as both wholesale and manufacturing sales fell. Statistics Canada said Tuesday wholesale trade fell 1.0 per cent in November to $63.0 billion, more than offsetting the 0.7 per cent…
Alberta government to partially backstop new $2 billion dollar bitumen upgrader
CALGARY – The Alberta government is providing a $440 million loan guarantee to help a Calgary-based company build a new bitumen upgrader east of Edmonton. Value Creation Incorporated says it’s ready to break ground on the $2 billion upgrader that…
Doug Ford says the Liberals’ carbon tax will plunge Canada into recession
TORONTO – The premier of Ontario says a federal carbon tax will plunge the country into recession. Doug Ford says the federal Liberal government’s climate plan will trigger an economic downturn. In his address to the Economic Club of Canada…
Inflation accelerates as higher airfares, vegetable prices offset cheaper gas
OTTAWA – Canada’s annual inflation rate saw an unexpected acceleration to two per cent last month as higher costs for airfares and fresh vegetables offset cheaper prices at the pump, Statistics Canada said Friday. Year-over-year prices picked up their pace…
Yukon says Dawson wastewater plant expensive, needs replacing after seven years
DAWSON CITY, Yukon – Just seven years after it was completed, planners want to replace a wastewater treatment plant in Dawson City, Yukon. The Yukon government says the project has been a “costly endeavour” but the life cycle of the…
Petrochemical growth spurt expected despite rising desire for fewer plastics
CALGARY _ Canada’s slow-growing petrochemical industry is headed for its biggest surge of expansion spending in five years in 2019, thanks in large part to incentive programs by federal and provincial governments. The government support has angered environmental groups who…
Burkina Faso killing highlights increasing security threat for mining companies
TORONTO – The killing of a Canadian mining company executive in Burkina Faso is drawing attention to the deteriorating security situation in the country and the risks resource firms face in unstable regions. Kirk Woodman, who was working for Vancouver-based…
Shawcor Ltd. signs deal to buy ZCL Composites Inc. for $308 million
TORONTO – Pipeline services company Shawcor Ltd. has signed a deal to buy ZCL Composites Inc., a maker of fibreglass reinforced plastic underground storage tanks, for $308 million. Under the friendly agreement, Shawcor will pay $10 per ZCL share in…
Union president says Ford to fight for workers at GM plant slated for closure
The head of the union representing workers at a General Motors plant slated for closure said Premier Doug Ford offered assurances Monday that he would pressure the automaker to change its plans for the facility in Oshawa, Ont. Unifor President…
Magna expects sales to be hurt by sale of fluid pressure and controls business
AURORA, Ont. – Magna International Inc. says it expects its sales this year will be weighed down by a stronger U.S. dollar and the sale of its fluid pressure and controls business. The Ontario-based auto parts maker, which keeps its…
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Atlas Copco acquires IPV
Atlas Copco has acquired German Industrie Pumpen Vertriebs GmbH (IPV), a distributor of industrial pumps for Varisco brand. IPV is based in Dresden, Germany and its main market is the chemical industry. “The industrial segment is key for us in…
Bank of Canada holds interest rate, views oil slump as temporary soft patch
OTTAWA – The Bank of Canada is holding interest rates steady as the economy navigates a temporary period of softness created by the sharp drop in oil prices, governor Stephen Poloz said Wednesday. The recent plunge in crude prices has…
Husky taking steps to resume SeaRose operations two months after oil spill
ST. JOHN’S, N.L. – A Canadian oil and gas company says it’s working to reassure regulators that it can resume safe operations, two months after a massive oil spill at one of their offshore oil production sites. Work at the…
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Retooled TMMC Plant Continues To Build RAV4
In 2008, Toyota Motor Manufacturing Canada (TMMC) opened its West Plant in Woodstock, Ontario, to go along with its operations in Cambridge (North Plant and South Plant). Just as a little background, Toyota considers all its plants in Cambridge and…
With tariffs still in place, Ottawa to commit up to $90M for Algoma Steel
OTTAWA – The federal government is to announce up to $90 million in support for Ontario’s Algoma Steel on Thursday in a commitment aimed at helping the producer deal with the American tariffs on steel and aluminum, The Canadian Press…
Japanese auto supply giant Denso joins Montreal AI cluster with new R&D lab
MONTREAL – Japanese auto supply giant Denso Corp. is joining Montreal’s burgeoning artificial intelligence scene with the launch of a research and development lab in the city. Chief executive Koji Arima said Thursday that Montreal’s collaborative AI ecosystem attracted his…
Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers
VANCOUVER – Newmont Mining Corp. has signed an agreement to acquire Canadian miner Goldcorp Inc. in a deal it valued at about US$10 billion. The companies announced Monday that Newmont will exchange 0.328 of a share and two cents in…
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Mission Critical – Emergency Power Upgrades
TELUS completes an integrated project to build a new standby generation plant at a mission critical network facility. As one of Canada’s leading telecommunications companies, TELUS has a multitude of network buildings located throughout Canada. Network buildings provide a number…
B.C. fuel up 4 cents, more hikes due as ‘bumpy’ year looms at pumps: expert
VANCOUVER – Extreme volatility in oil markets has resulted in a price jump for gasoline of four cents a litre in Metro Vancouver and an analyst predicts a further hike could arrive within days. Dan McTeague, a senior petroleum analyst…
