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MAC & PDAC: Trans-Pacific Partnership will benefit Canada’s mining sector
The Mining Association of Canada and PDAC both expressed strong support for Canada's participation in the Trans-Pacific Partnership trade agreement. The TPP would reduce tariffs on Canadian mining exports to key markets, with current tariffs ranging up to 50% in some TPP countries, and represents a $28.5 trillion trading bloc covering 800 million consumers.
Suncor Energy launches $6.6 billion bid to takeover Canadian Oil Sands Limited
Suncor Energy launched an unsolicited $6.6 billion takeover bid for Canadian Oil Sands Limited, offering 0.25 Suncor shares for each COS share at a 43% premium to market price. The deal would create Canada's leading integrated oil sands company with enhanced dividend prospects and operational scale.
Steel cutting marks start of physical construction of Nautilus’ production support vessel
Nautilus Minerals commenced steel cutting for its production support vessel at Fujian Mawei Shipbuilding in China, marking the start of physical construction for the world's first commercial seafloor copper-gold mining operation. The vessel will support operations at the Solwara 1 Project in Papua New Guinea's Bismarck Sea, with delivery expected in December 2017 and seafloor operations planned to begin in Q1 2018.
MGX Minerals agrees to buy former Cranbrook Tembec mill site for $3.7M
MGX Minerals has signed a definitive agreement to acquire Tembec's defunct 98-acre Cranbrook mill site for $3.7 million to process industrial minerals from its Driftwood Creek magnesium project. The fully serviced industrial site includes existing buildings, processing infrastructure, and access to natural gas, water, power and rail, positioning MGX to advance its magnesium oxide production plans in British Columbia.
Alloycorp Mining CEO Gordon Bogden steps down
Alloycorp Mining announced the immediate resignation of CEO Gordon Bogden, who will be replaced temporarily by Chairman Mario Caron while a global executive search is conducted. The company is developing the Avanti Kitsault molybdenum project in British Columbia with a $1 billion investment aimed at creating one of the world's top four primary molybdenum mines.
Canadian Securities Regulators finalize significant changes to the Rights Offering Regime
The Canadian Securities Administrators announced streamlined prospectus exemption rules for rights offerings by reporting issuers, effective December 8, 2015. The changes remove regulatory pre-approval requirements and increase the dilution limit from 25% to 100%, making rights offerings more attractive for capital raising while maintaining investor protections.
APEGBC and AME BC sign Memorandum of Understanding
APEGBC and AME BC signed a Memorandum of Understanding to formalize cooperation between the two professional organizations. The agreement aims to advance engineering and geoscience professions in BC while promoting unified positions on professional practice and development in the mineral exploration sector.
Teck Named to Dow Jones Sustainability World Index
Teck Resources has been included in the Dow Jones Sustainability World Index for the sixth consecutive year, ranking in the top 10% of 2,500 largest global companies for sustainability practices. The company received top scores in biodiversity, asset closure management, talent retention, and operational eco-efficiency.
Brandt Tractor set to open new state-of-the-art facility
Brandt Tractor Ltd. is opening a new state-of-the-art facility in Saskatoon after 23 years at their previous location on Millar Avenue. The larger facility is designed to accommodate John Deere's full range of construction and mining equipment and represents the company's confidence in Saskatchewan's economic strength.
24% of BC’s fastest growing companies in mining and energy sectors
Business in Vancouver released its Top 100 fastest-growing companies list, with 24% from mining and energy sectors. Turquoise Hill Resources topped the list with 2,110% revenue growth over five years, increasing from $82 million in 2010 to $1.85 billion in 2014. The company operates one of the world's largest copper mines in Mongolia.
Gran Colombia Gold Announces Second Quarter and First Half 2015 Results
Gran Colombia Gold reported strong Q2 2015 results with gold production increasing 19% to 28,495 ounces and total cash costs dropping 29% to $779 per ounce. The company achieved adjusted net income of $1.8 million compared to a $6.1 million loss in Q2 2014, driven by improved production at its Colombian Segovia Operations and favorable currency impacts.
Kaminak Gold named a TSX Venture 50 company
Kaminak Gold Corporation was named to the TSX Venture 50 list for 2015, recognizing top performing companies on the exchange. The company is advancing its Coffee Gold Project in Yukon, which has a total resource of over 4 million ounces and a preliminary economic analysis showing strong economics with 33% IRR and $522 million NPV.
Vote for Ulmer Contracting—they are the Canadian ultimate crew finalist in Vermeer’s crew search
Ulmer Contracting from Vancouver has been selected as the only Canadian crew among 8 finalists in Vermeer's Ultimate Horizontal Directional Drilling Crew contest. The winning crew will receive a new Vermeer D24x40 Series II drill for twelve months and compete at ICUEE 2015 in Louisville, Kentucky.
New plant in B.C. for Sika Canada Inc.
Sika Canada Inc. is constructing a new 30,000 square foot mortar and concrete admixtures manufacturing plant in Surrey, BC. The facility will feature modular production equipment and will be the company's fourth Canadian manufacturing site, designed to improve product availability and reduce delivery times for Pacific Northwest customers.
Trusterra Technologies announces new mobile platform designed to document workplace hazards
Trusterra Technologies has launched ScoopMAE, a mobile platform designed to improve workplace safety in mining and energy operations by allowing workers to instantly document and report hazards. The app features customizable reporting tools, data analytics, and multimedia capabilities specifically designed for large industrial sites. The platform aims to transform traditional safety reporting from siloed, manual processes into an integrated, collaborative system.
Report says K+S $8.7B takeover bid by Potash Corp rejected
Potash Corporation of Saskatchewan's $8.7 billion takeover bid for German company K+S AG has been rejected, with K+S saying the offer is too low and undervalues their Saskatchewan Legacy potash project. The acquisition would have given PotashCorp control of about 30% of the global potash market and access to the Legacy project which is set to begin production next year.
Finning officially takes over the Kramer Cat® dealership in Saskatchewan
Finning International Inc. completed its $230 million acquisition of Kramer Cat dealership in Saskatchewan on July 1, 2015, expanding Finning's Western Canadian operations and adding 475 employees across seven locations. The acquisition provides Finning with access to Saskatchewan's potash and uranium sectors while maintaining Kramer's 70-year legacy of equipment service in the province.
Britespan Building Systems Inc. honoured as Industry Supplier of the Year
Britespan Building Systems Inc. was honored as Industry Supplier of the Year at the 2015 Canada Oil & Gas Awards ceremony in Calgary. The company was recognized for providing innovative, modular building solutions to the oil and gas sector with superior customer service and corporate social responsibility initiatives.
Teck could raise $1B from silver stream sales to Silver Wheaton, TD says
Teck Resources is reportedly considering selling approximately 75% of its silver production from three major mines to Silver Wheaton for around $1 billion. The potential deal would involve silver streams from the Antamina, Red Dog and Highland Valley mines, helping Teck raise capital for copper acquisitions while providing Silver Wheaton with immediate growth of 6.2 million ounces of annual silver production.
BluMetric wins $3.2 million Vale environmental engineering contract
BluMetric Environmental was awarded a $3.2 million environmental engineering contract by Vale Canada Limited, with potential for five-year duration and future growth. The contract involves hydrology, hydrogeology, and groundwater management services for Vale's facilities.
Canpotex selects National Steel Car to manufacture 700 railcars for potash shipments
Canpotex has selected National Steel Car to manufacture 700 new potash railcars in a $70 million investment that will provide employment for over 400 people for seven months. The custom-designed railcars will transport Saskatchewan potash to coastal ports, continuing a 20-year partnership that has produced over 7,000 railcars since 1999.
Teck among final bidders for $2B Chilean copper mine
Barrick Gold Corp. is seeking a buyer for a 50% stake in its Zaldivar copper mine in Chile, with the asset potentially valued at over $2 billion. BHP Billiton and Teck Resources are among the final bidders, with some parties interested in acquiring the entire mine and a decision expected in July.
Stibbard heads JDS Energy and Mining, the project manager with a difference
JDS Energy and Mining Inc., a Kelowna-based project management consultancy, is profiled as a company that not only manages mining projects but also invests in them. The company has grown 50% year-over-year since 2004 and is currently working on IDM Mining's Red Mountain gold project near Stewart, B.C., with a preliminary economic assessment showing potential operating costs below US$500 per ounce.
A BC company whose inventions improve mining equipment
Caliper Machine and Hydraulics, a Cranbrook-based equipment manufacturer, has developed several innovative solutions for mining equipment including steel dashboards for Komatsu haul trucks and industrial windshield wipers. Their latest invention, the Roller Saddle Block for P&H electric shovels, is being tested at Teck Coal properties and reportedly saves thousands of dollars monthly in lubricant costs while extending component life.