The M&E Dispatch // 119
Hello Everyone,
It’s Halloween, and as the kids get ready to head out hunting for candy, Canada just got handed a trick of its own.
Starting November 1, India will impose a 30% tariff on imported yellow peas, the very crop that helped fill shipping containers bound for Delhi, Mumbai, and everywhere in between.
For Saskatchewan farmers, that’s not a policy headline. It’s a gut punch.
India and China together bought 71% of all Canadian pea exports last year. Now both have tariffs in place, 100% from China back in March, and 30% from India starting tomorrow. Prices have already dropped 43% since spring. Millions of tonnes suddenly have nowhere to go.
The official line is that India’s tariff isn’t retaliation, just “support for domestic farmers.” Maybe. But the timing couldn’t be more political. It comes right as Canada mulls softening its tariffs on Chinese EVs, a move that’s already ruffled a few diplomatic feathers.
The Pea Problem (and What It Really Means)
Peas. Let’s be honest, this isn’t just about peas. It’s about power.
India knows it can flex because it’s feeding a billion people. Canada can’t afford to lose access to its market, and everyone knows it. That’s why Saskatchewan’s Agriculture Minister is already calling on Ottawa to get negotiating immediately.
But while the headlines focus on crops, this moment says something much bigger about where Canada sits globally. We’ve spent years playing middleman in other people’s trade fights, holding the line for the U.S., taking hits from China, and now watching India quietly remind us who actually controls demand.
Protectionism looks different depending on which side of the tariff you’re standing.
Our farms are efficient, our yields world-class, our land some of the most fertile on Earth. But we’ve built a system that depends on everyone else’s appetite. When the world decides to eat at home, Canada’s left holding the leftovers.
A Broader Reckoning is where I lose sleep
This tariff will ripple far beyond the Prairies. It hits transport, processing, ports, and finance. It’ll squeeze the same logistics systems that move copper, potash, and critical minerals, and that’s where the connection lies.
Mining and agriculture have always been the twin pillars of Canada’s export economy. When one takes a hit, the other feels the tremor.
The real question now isn’t how fast we can patch this with India. It’s whether we’re finally ready to diversify beyond the comfort zones of the last 50 years, beyond the U.S., beyond China, beyond the illusion that we can’t play a bigger role in shaping global trade ourselves.
Because whether it’s peas or potash, cars or copper, we’re running out of room to sit politely on the sidelines.
// The Dirt
🔥 Top 3 Headlines to Watch
- Bold Ventures — Ring of Fire & Burchell Update (ON)
Progress links for Ontario’s Ring of Fire access/infrastructure and ongoing work at the Burchell Gold & Copper Project; notes neighbouring consolidation and project interests.
https://www.boldventuresinc.com/news/bold-ventures-provides-recent-news-at-koper-lake-in-the-ring-of-fire-and-burchell-gold-and-copper-project/ - CanAlaska — $15M Brokered Private Placement (SK/MB uranium focus)
CanAlaska Uranium closes a $15 million brokered financing.
https://www.canalaska.com/2025/10/30/canalaska-closes-15-million-brokered-private-placement/ - Harfang & SOQUEM — High-Grade Gold Discoveries (QC)
Multiple new showings and high-grade samples from the Menarik West Property in Eeyou Istchee James Bay.
https://harfangexploration.com/harfang-and-soquem-make-high-grade-gold-discoveries-at-menarik-west-quebec/
🛠 Exploration & Development Highlights
Canuc Resources — Drilling Underway at East Sudbury Project (ON)
Diamond drilling program launched; aims to support a maiden MRE for “Gold Lens 1” near historical Scadding workings.
[https://canucresources.ca/canuc-begins-drilling-at-east-sudbury-project-esp/](https://canucresources.ca/canuc-begins-drilling-at-east-sudbury-project-esp/
Copper Quest — To Acquire 100% of Kitimat Copper-Gold Project (BC)
Definitive agreement to acquire the project ~10 km NW of Kitimat.
https://www.zimtu.com/copper-quest-to-acquire-100-interest-in-the-kitimat-copper-gold-project/
Magna Mining — Q3 Operations & Exploration Update (ON)
Update on McCreedy West Mine operations/exploration in the Sudbury camp.
https://magnamining.com/q3-operations-and-exploration-update-at-mccreedy-west-mine/
💰 Financings & Market Moves
CanAlaska — $15M Brokered Financing Closed
Additional details via company release.
https://www.canalaska.com/2025/10/30/canalaska-closes-15-million-brokered-private-placement/
Monumental Energy — Private Placement Announced
Non-brokered placement of 10–15M units at $0.05 to fund NZ energy workovers and other corporate purposes.
https://monumental.energy/2025/10/monumental-energy-announces-private-placement-financing/
Stakeholder Gold — YTD Operating Results
Revenue of CAD $1.33M for the first nine months of 2025 and sales/volume updates.
https://stakeholdergold.com/stakeholder-provides-year-to-date-ytd-operating-results
🧬 Corporate & Policy
Manganese X Energy — New Director Appointment (NB/QC)
Desmond Tranquilla, P.Eng., joins the board to support Battery Hill PFS and project execution.
https://www.manganesexenergycorp.com/manganese-x-energy-announces-appointment-of-desmond-tranquilla-p-eng-as-new-director/
Dynacor — Expansion Progress (QC-based)
Update on Senegal modular plant shipment and Ecuador integration; long-term growth targets outlined. (français)
https://dynacor.com/dynacor-debute-lacheminement-de-son-usine-modulaire-vers-le-senegal-et-poursuit-lintegration-en-equateur/
Voyageur Pharmaceuticals — Distribution & Wholesale Agreement
Non-exclusive agreement with PHALANX.
https://voyageurpharmaceuticals.ca/voyageur-pharmaceuticals-signs-non-exclusive-distribution-wholesale-agreement-with-phalanx/
🌄 On the Horizon (from today’s items)
Ring of Fire momentum: Provincial access/infrastructure steps plus continued nearby project activity point to a busier 2026 in Northern Ontario.
Uranium capital flows: CanAlaska’s $15M close underscores steady access to financing for Athabasca-linked explorers.
Quebec discovery pipeline: Menarik West results add fresh targets and showings that could drive follow-up programs into winter/spring.
// The Hustle
I’ve been working really hard on 7am.ca this past week, if you have a moment and want to try something fun I created a special page for Canadian Businesses who could use some new tariff free trade partners.
Yo! F*** Those Tariffs => https://www.7am.ca/yo
Full disclosure, I’m building a fair bit of this live, there’s not a huge amount of users at the moment so the occasional moment or two of errors is acceptable to enable me to move fast with this.
I have to say though, it works really well. The matches it’s able to located and the data it can uncover is amazing.
Give it a try and enjoy the weekend!
Go Jays Go.
- Lee