News
Union launches ‘Ships Stay Here’ campaign to keep shipbuilding work in Halifax
HALIFAX – Shipbuilders at Halifax’s Irving Shipyard have launched a campaign to keep their work in Nova Scotia, as concerns mount over the possibility of repair work on Halifax-class navy ships being transferred to Davie Shipbuilding in Quebec. Members of…
Oilsands bitumen prices fall into negative territory, analyst calculates
CALGARY – A financial analyst says prices being paid for Western Canadian oilsands bitumen have fallen so far that many producers are losing money on every barrel sold into the spot market. Analyst Matt Murphy of Tudor Pickering Holt &…
GFL Environmental buying U.S. company Waste Industries in deal valued at $3.65B
Toronto-based GFL Environmental Inc. has signed a deal to buy Waste Industries in an agreement that values the U.S. company at about $3.65 billion. The deal will more than double GFL’s footprint in the United States. “Waste Industries strongly complements…
Canada moves to block steel dumping with 25% surtax on select products
The Canadian government says it will impose a 25 per cent surtax on some foreign steel products in a bid to head off dumping. The Finance Department said “excessive imports” are harming the steel industry, prompting it to impose a…
Oil discounts grow as CEOs complain of Canada’s competitiveness gap
CALGARY – Discounts on Canadian crude oil widened to multi-year highs on Wednesday as oil and gas executives took turns at a conference pointing out Canada’s competitiveness gap in attracting energy investors. Prices for both Western Canada Select, an oilsands…
Yukon mine is mothballed as soft copper markets derail planned sale
VANCOUVER – A Vancouver-based mining company says soft copper and equity markets have combined to undermine the sale of its property in central Yukon, so it plans to shut the Minto Mine until a better opportunity is found. Capstone Mining…
Emerson to Acquire Intelligent Platforms
Emerson has agreed to acquire Intelligent Platforms, a division of General Electric. Intelligent Platforms’ programmable logic controller (PLC) technologies help Emerson to provide its customers broader control and management of their operations. Terms of the deal were not disclosed. “Adding…
Zinke expected to OK block on mining claims near Yellowstone
U.S. Interior Secretary Ryan Zinke has scheduled a visit next week to Montana, where he’s expected to finalize a proposal to block new mining claims on the forested public lands just outside Yellowstone National Park. Zinke, a former Montana congressman,…
LNG Canada project in British Columbia given final approval by shareholders
VANCOUVER – Final approval for a massive liquefied natural gas project in northern British Columbia shows that major resource projects can be built in the province, the CEO of LNG Canada said Tuesday. The future of major energy projects in…
Precision Drilling to buy Trinidad Drilling in friendly deal valued at $1 billion
CALGARY – Two of Canada’s largest oil and gas drillers have agreed to combine in a deal worth about $1.03 billion, positioning them to have the third-largest contract drilling fleet in the United States. Under the friendly deal reached by…
Mercer International buying Canadian kraft pulp mills for $465 million
TORONTO – Mercer International Inc. has signed a deal to acquire Daishowa-Marubeni International Ltd., which owns a bleached kraft pulp mill in Peace River, Alta., and a 50 per cent stake in a joint venture which operates a bleached kraft…
Aecon Group Inc. selling contract mining business for $199.1 million
TORONTO – Aecon Group Inc. has signed a deal to sell its contract mining business to North American Construction Group Inc. for $199.1 million in cash. The contract mining business provides overburden removal and environmental reclamation services, primarily in the…
A look at winners, losers in the United States Mexico Canada Agreement
OTTAWA – After 14 months of hand-wringing, there’s a new North American trade pact. Here’s an early look at some of the winners and losers in the United States-Mexico-Canada Agreement: WINNERS Automakers: A side letter published along with the main…
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NTN Celebrates Centennial
NTN held a gala celebration recently at the Omni King Edward hotel in Toronto, Ontario to celebrate its centennial, as well as 50 years of operations in Canada. “We are so proud of this milestone,” said Paul Meo, CEO and…
Out with NAFTA, in with USMCA: Canada inks new trade deal with U.S., Mexico
WASHINGTON – A new era in North American free trade dawned in the dead of night Sunday as a 14-month NAFTA modernization effort between Canada, the U.S. and Mexico finally came to fruition with just hours to spare before an…
Audit finds boosters of Muskrat Falls megaproject ‘understated’ its costs
An audit has found Newfoundland’s Nalcor Energy may have overstated the potential value of its Muskrat Falls hydro megaproject – and prematurely dismissed alternative electricity options for the province. Accountants from Grant Thornton testified Friday at the inquiry into cost…
Teck Resources takes $20.6B Frontier oilsands mine project to joint hearing
FORT MCMURRAY – In a sign that the oilsands mining industry can’t be counted out just yet, public hearings into the proposed $20.6-billion Frontier Oil Sands Mine project begin in Fort McMurray, Alta., today. International oil companies are cutting their…
Ontario to scrap Drive Clean emissions test, target heavy duty vehicles instead
TORONTO – Ontario’s Drive Clean vehicle emissions testing program will be dismantled next year and replaced with a new system that will focus on heavy-duty vehicles such as transport trucks, the government said Friday. The Progressive Conservative government said the…
Acid shipments halted in B.C. city while series of leaks is investigated
Municipal officials in southeastern British Columbia say they have been assured that the company which moves sulphuric acid through a West Kootenay city won’t resume shipping until a thorough engineering investigation wraps up. A post on the City of Trail…
Environmentalists ask U.S. regulators to reconsider Enbridge pipeline project
Environmental and Indigenous groups asked Minnesota regulators on Tuesday to reconsider their approval of Enbridge Energy’s plans to replace its aging Line 3 crude oil pipeline across northern Minnesota. The groups, including the Sierra Club, Youth Climate Intervenors, Friends of…
