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Ritchie Bros. to acquire IronPlanet to accelerate its customer centric multi‐channel diversification
Ritchie Bros. Auctioneers announced it will acquire online equipment marketplace IronPlanet for approximately US$758.5 million to create a multi-channel industrial equipment sales platform. The acquisition combines Ritchie Bros.' live auction capabilities with IronPlanet's online marketplace strength, targeting the construction, mining, energy, and other industrial sectors.
TorQuest Partners acquires majority control of Polycor as part of merger
TorQuest Partners acquired majority control of Quebec-based Polycor in a merger with U.S. granite producers Swenson Granite and Rock of Ages. The combined entity will operate over 30 quarries primarily in Quebec and the U.S. Northeast, creating one of the largest natural stone companies globally with over 800 employees.
Career BUZZ: Top Jobs in Mining & Energy
Mining and Energy magazine has compiled 10 featured career opportunities from leading companies across western Canada, representing a small selection from hundreds of available positions in the mining and energy sectors. The positions range from technical roles like driller blaster and plant operator to senior management positions including Vice President Exploration, with salaries ranging from $100,000 to $180,000.
Agrium and PotashCorp in merger to create world-class global supplier of crop inputs
Agrium Inc. and Potash Corporation of Saskatchewan announced a merger of equals to create a world-class integrated global supplier of crop inputs with a pro forma enterprise value of US$36 billion. The combined company will have operations in 18 countries, close to 20,000 employees, and is expected to generate up to US$500 million in annual operating synergies.
Britespan announces the appointment of John MacDonald as Vice President
Britespan Building Systems Inc. appointed John MacDonald as Vice President effective September 6, 2016, to head manufacturing and operations. MacDonald brings 23 years of experience from Wescast Industries, most recently as President of North American Operations.
Enbridge and Spectra Energy to combine to create North America’s premier energy company
Enbridge Inc. and Spectra Energy Corp announced a definitive stock-for-stock merger agreement valued at C$37 billion for Spectra Energy, creating North America's largest energy infrastructure company with a combined enterprise value of C$165 billion. The transaction is expected to close in Q1 2017 and will combine complementary pipeline, midstream, utility and renewable power assets across oil and gas sectors.
Bellhaven announces Paul Zweng as CEO and Chairman of the Board
Bellhaven Copper & Gold appointed Dr. Paul Zweng as CEO and Chairman, with Millie Paredes becoming COO and President. Zweng previously led the company during 2010-2012 when shares gained 126.3%, and plans to restart drilling at the La Garrucha prospect following promising results of 271m @ 1.03 g/t gold.
CanAlaska options West Carswell diamond property to Canterra Minerals
CanAlaska Uranium has optioned its West Carswell diamond property to Canterra Minerals, allowing Canterra to earn up to 70% interest through staged payments totaling $200,000 cash, 3 million shares, and $5 million in work commitments. The 4,800-hectare property contains six magnetic anomalies interpreted as potential kimberlite pipes in Saskatchewan's Athabasca Basin.
Global mining sector prepares to meet with renewable energy leaders in Toronto
Energy and Mines World Congress brings together over 40 senior mining leaders with renewable energy experts in Toronto on November 21-22, 2016. The event focuses on collaboration between mining and renewables to reduce energy costs and carbon exposure, featuring case studies from global mining operators including Goldcorp, Barrick Gold, and Newmont.
Toronto-based GMP Capital Inc. to acquire Calgary’s FirstEnergy capital
Toronto-based GMP Capital Inc. announced it will acquire Calgary's FirstEnergy Capital Corp. for $98.6 million in August 2016. FirstEnergy, founded by prominent entrepreneurs Brett Wilson and Murray Edwards, has completed over $63 billion in energy sector financing since 2008. The combined entity will operate as GMP FirstEnergy, significantly expanding GMP's energy sector presence.
Dominion Diamond Corporation announces trial results, strategies and departure of CFO
Dominion Diamond Corporation announced successful production trial results from its Misery Main ore body at Ekati, recovering 130,000 carats valued at $72 per carat. The company unveiled a new capital allocation strategy including development of Sable and Jay projects, a share buyback program for up to 7.2% of outstanding shares, and the departure of CFO Ron Cameron.
Teck announces retirement of Greg Waller, Vice President, Investor Relations and Strategic Analysis
Teck Resources announced that Greg Waller, VP of Investor Relations and Strategic Analysis, will retire in mid-2017 after more than 30 years with the company. Waller joined Teck in 1984 and took on investor relations responsibilities in 2006, recently receiving the 2016 Belle Mulligan Award for Leadership in Investor Relations. The company is conducting a search for his replacement.
Komatsu to acquire U.S. mining equipment manufacturer Joy Global
Komatsu Ltd. announced it will acquire U.S. mining equipment manufacturer Joy Global for $2.89 billion ($28.30 per share) in a deal expected to close mid-2017. The acquisition will complement Komatsu's surface mining equipment portfolio by adding Joy Global's underground mining equipment and super large-sized loading equipment, making Komatsu a comprehensive mining equipment provider.
Centerra Gold buys Thompson Creek Metals
Centerra Gold announced a $1.1 billion acquisition of Thompson Creek Metals, gaining control of the Mount Milligan gold-copper mine in British Columbia and the Thompson Creek molybdenum mine in Idaho. The deal includes amending Royal Gold's streaming agreement to maximize gold exposure and is expected to create a diversified, low-cost producer with 675-725 Koz annual gold production.
Canpotex nixes new Prince Rupert export terminal
Canpotex has decided not to proceed with construction of a new export terminal at the Port of Prince Rupert after determining it has sufficient capacity at existing terminals in Vancouver, Saint John and Portland. The decision was based on economic and commercial considerations regarding current and future capacity needs.
Kirkland Lake Gold appoints Anthony Makuch new CEO
Kirkland Lake Gold appointed Anthony Makuch as new CEO following George Ogilvie's resignation. Makuch brings over 25 years of mining experience, notably as CEO of Lake Shore Gold where he increased production and reserves while lowering costs. The company is targeting 270,000-290,000 ounces of annual gold production from its Ontario operations.
SunMine wins National Engineering Project Award
Kimberley's SunMine solar facility won the National Award for an Engineering Project or Achievement from Engineers Canada. The project is BC's first grid-connected solar facility built on a reclaimed mine site, featuring 4,032 solar modules on 96 sun-tracking systems that generate 40% more energy than fixed installations.
Vancouver’s Kincora announces $4 million private placement and debt conversion
Kincora Copper announced a combined $4 million financing consisting of a $2 million private placement at $0.375 per share and $2 million debt conversion by major shareholder Origo Partners. The financing will create a debt-free balance sheet and fund exploration activities in Mongolia's Southern Gobi copper-gold belt.
PwC BC Mining Report 2015: The worst is behind us
PwC's 2015 BC Mining Survey shows gross mining revenues fell to $7.7 billion from $8.2 billion in 2014, with 2,000 direct jobs lost due to mine closures. Despite challenges, two new mines started production and $272 million was spent on exploration, with industry leaders expressing cautious optimism that the worst may be behind them.
Lisa Dooling joins Neptune Bulk Terminals
Neptune Bulk Terminals announced the appointment of Lisa Dooling as director of community and stakeholder engagement. The company handles Canadian potash and steelmaking coal exports through its Vancouver terminal, which is expanding capacity to 30 million tonnes annually.
Teck donates $75K to Canadian Red Cross Fort McMurray wildfire relief efforts
Teck Resources announced a $75,000 donation to the Canadian Red Cross for Fort McMurray wildfire relief efforts, with an additional $25,000 to match employee donations. The donation is being made through the Canadian Association of Petroleum Producers' Energy Together relief initiative.
Teck Reports 2015 Sustainability Performance
Teck Resources released its 2015 Sustainability Report showing the company achieved all sustainability goals for the year. Key highlights include a 25% reduction in high potential safety incidents, 200,000 tonnes of greenhouse gas emissions reduction since 2011, and improved water recycling averaging 4.5 times at mining operations.
Intact Gold Corp. appoints new member to Board of Directors
Intact Gold Corp. appointed Greg Burns to its Board of Directors, replacing Bob Thompson. Burns brings 22 years of experience in mineral exploration and M&A, previously serving as Managing Director of companies acquired by major miners. The appointment comes as Intact Gold searches for advanced gold development projects in Canada.
$94M profit declared by Teck Resources, sees change in direction in steelmaking coal and zinc prices
Teck Resources reported Q1 2016 profit of $94 million, up from $68 million year-over-year, while achieving significant cost reductions across operations. The company noted encouraging price direction changes in steelmaking coal and zinc markets despite ongoing commodity cycle challenges.