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Canada’s Potash Industry Drawing Both Top Mining Companies
Long dominated by a small group of local players, Canada’s potash industry has become red hot, as soaring prices have begun drawing both top mining companies and small exploration firms to the vast resources buried deep under the western prairies.
Used as a key ingredient in fertilizer, demand for potash has soared along with grain prices, [...]
Canadian Mining Regulation Slowing Conservation Effort
Environmentalists say Canada’s antiquated mining regulations are slowing conservation efforts and aboriginal land claims by allowing prospectors first dibs on Crown land.
A new report by the International Boreal Conservation Campaign says Canada’s 150-year-old system of free-entry access needs to be replaced.
The campaign is a privately funded initiative supporting boreal forest conservation.
“The free-entry system hearkens back [...]
Mexico Mining Boom
Regional myopia is a widespread failing. Say “ Mexico” in Europe and the word game usually brings up “holidays”. The other side of the Atlantic it would probably be “cheap labour”. Only in Canada is “mining” Mexico’s main claim to fame. Yet Mexico is one of the oldest mining countries in the world, and it [...]
Xstrata Copper and Gold Mining Project in the Philippines US$2bn
Global mining group Xstrata, which has coal and alloys operations in South Africa, on Wednesday confirmed that its US$2bn Tampakan copper and gold mining project in the Philippines had been raided and two buildings had been torched.
Communist rebels representing the New People’s Army claimed responsibility for the raid, saying its singular objective was “punishing [...]
Mining Companies Fell on Concerns, Australian Market and Tradding
Australian shares fell 3.5 percent to a three-month closing low on Monday as property trusts slumped on refinancing troubles at Centro Properties Group and financial sector stocks were dumped on a cloudy outlook for global credit markets.
Mining companies fell on concerns about commodity prices after a surge in U.S. inflation made it less likely [...]
OphiraVencap Inc. Announces Proposed Qualifying Transaction with North Sea Energy Inc.
OphiraVencap Inc. (”OPHIRA”) announces that on July 27, 2007 it signed a Letter of Intent (the “Letter of Intent”) with North Sea Energy Inc. (”NORTH SEA”), an arm’s length party, for the potential acquisition of all the issued and outstanding shares of NORTH SEA whether directly, by way of three cornered amalgamation, or by merger [...]
Rio Tinto makes a recommended all cash offer for Alcan
Rio Tinto and Alcan today announced they have reached an agreement for Rio
Tinto to make an offer to acquire all of Alcan’s outstanding common shares for US$101 per common share in a recommended, all cash transaction. The offer represents a total equity consideration for Alcan of approximately US$38.1 billion.
The offer represents a premium of 65.5 [...]
Katanga Explores Strategic Alternatives
Katanga Mining Limited (TSX: KAT) (”Katanga” or the “Company”) acknowledges today’s announcement by Central African Mining and Exploration Company plc (”CAMEC”) of its intention to make a revised all share offer, but notes that a formal offer has not yet been made. The Board will evaluate a formal offer from CAMEC, if and when [...]
TSX puts in flat close following 2 strong sessions;NY closed for July 4 holiday
The Toronto stock market put in a flat performance Wednesday as investors stepped back after two sessions of strong, triple digit gains, lacking direction from south of the border with U.S. markets closed for the Independence Day holiday.
“New York, certainly to us, is the most relevant market because a lot of Canadian money managers, when [...]
