News
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Potash companies say Saskatchewan did not consult on budget tax change
REGINA – Two major potash companies say the Saskatchewan government gave them no warning it would be eliminating deductions and credits related to its potash production tax. The move was announced in the provincial budget released Wednesday. The government says…
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Newmont Mining to pay special dividend if Goldcorp takeover approved
DENVER – Newmont Mining Corp. is offering a special dividend to its shareholders if its friendly takeover of Goldcorp Inc., which has faced opposition, wins shareholder approval. The gold miner will make a one-time payment of 88 cents per share,…
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Food and Beverage Industry Front and Centre at Convenience U CARWACS show
The 16th annual Convenience U CARWACS show was recently held at the Toronto Congress Centre in Toronto, Ontario. The show is touted as Canada’s largest convenience, gas, and wash industry event. While the main part of the show is the…
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Support for climate change action could wane if no help for coal workers: report
OTTAWA – The federal government has to prepare communities that are economically dependent on coal for a future when their products aren’t needed if it wants to maintain public support for climate-change action, says a task force on making that…
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Imperial Metals selling 70 per cent stake in Red Chris mine to Newcrest
VANCOUVER – Shares in Imperial Metals Corp. soared in early trading after the company announced a deal to sell a 70 per cent interest in its Red Chris copper and gold mine in B.C. to Australia’s Newcrest Mining Ltd. for…
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Barrick, Newmont say they’ll work together through Nevada joint venture
TORONTO – Bluster has given way to pragmatism as the world’s two largest gold miners have agreed to partner-up in Nevada. Barrick Gold Corp. said Monday it will drop its US$17.8-billion hostile takeover offer for Newmont Mining Corp. and instead…
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Drive to ratify new North American trade deal gets lift from U.S. TV exposure
OTTAWA – The push for the speedy passage of the new NAFTA is getting a boost from a big advertising campaign in the United States. An alliance of U.S. companies, trade associations and lobbyists launched a series of TV commercials…
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Dozens left sickened by carbon monoxide leak at Newfoundland rink
ST. JOHN’S, N.L. – Health officials were cautioning about persisting symptoms of carbon monoxide exposure Monday, three days after 80 people were sent to hospital by a leak at a St. John’s, N.L., arena. The leak, during a hockey tournament…
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Statistics Canada reports manufacturing sales up 1.0 per cent in January
OTTAWA – Canadian manufacturing sales ended a streak of three consecutive months of declines as they grew more than expected in January. Statistics Canada said Friday manufacturing sales in the first month of the year rose 1.0 per cent to…
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Inuit hope fresh deals with mining companies boost employment at new projects
Inuit leaders are hoping a new cycle of mine expansion in Nunavut brings with it a motherlode of jobs and economic spinoffs. “Inuit are very eager and wanting to participate in the economy,” said P.J. Akeeagok of the Qikiqtani Inuit…
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Years of repairs needed to historic Manitoba legislative building
WINNIPEG – The Manitoba government is preparing to spend $150 million to repair the province’s landmark legislative building, which was built a century ago. Finance Minister Scott Fielding says some maintenance and repairs have been put off for too long,…
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EMC Name New Field Service Advisor
Excellence in Manufacturing Consortium (EMC), named Craig Mannell as Field Service Advisor for Burlington, Oakville, Hamilton, Niagara and St. Catherines consortiums. He has held several leadership roles in various manufacturing industries including rail car manufacturing, job shop welding, elevator manufacturing,…
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Line 3 pipeline delays make oilsands expansion unlikely, MEG Energy says
CALGARY – The CEO of MEG Energy Corp. says a one-year delay in Enbridge Inc.’s Line 3 pipeline replacement project makes it highly unlikely it will approve an option to spend about $75 million to complete an expansion of its…
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Aecon notches record revenues as it takes on higher risk infrastructure projects
MONTREAL – On the heels of record annual revenues and successful project bids, Aecon Group Inc. says it is not yet feeling any pressure from high-risk, fixed-bid infrastructure contracts it will face over the next couple of years. “So far,…
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Canadian Natural says oil curtailments work, despite rivals’ complaints
CALGARY – Alberta’s crude curtailment plan is working so well to support western Canadian oil prices that it won’t likely be needed for too much longer, say executives at Canadian Natural Resources Ltd. Furthermore, the profitability of crude-by-rail shipments to…
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Federal funds to kick start planning work on road to central Arctic tundra
TORONTO – Northern leaders are cheering a federal funding announcement for a long-awaited all-weather road into the heart of Canada’s mineral-rich Arctic. “This is a significant first step,” said Wally Schumann, minister of industry and infrastructure in the Northwest Territories.…
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Communities worried about increased truck traffic from proposed Manitoba mine
WINNIPEG – Some community leaders are raising safety concerns about a proposed mine north of Winnipeg due to the amount of truck traffic it would generate. If the Canadian Premium Sand’s project is approved, trucks carrying silica sand could make…
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Central bank ‘surprised’ by weak data before longer slump call, rate hike doubts
OTTAWA – A weak data report “surprised” the Bank of Canada ahead of its decision to cast doubts about future interest-rate hikes and to warn Canadians the ongoing slump could prove to be unexpectedly stubborn, says one of the bank’s…
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Federal government pledges $49 million for $3.5 billion plastics project
CALGARY – A $3.5-billion project to turn Alberta propane into plastic pellets for the manufacture of consumer products is to receive $49 million from the federal government. Ottawa says the money provided to Calgary-based Inter Pipeline Ltd. through the $1.6-billion…
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Economic growth slowed in the fourth quarter to cap off year of 1.8% growth
OTTAWA – Canada closed out 2018 with its weakest quarterly economic performance in two and a half years – and experts say signs of the growth slowdown is likely to spread into the early months of 2019 and possibly beyond.…
