Newmont Mining to pay special dividend if Goldcorp takeover approved

Newmont Mining to pay special dividend if Goldcorp takeover approved
DENVER — Newmont Mining Corp. says it will pay a one-time special dividend of 88 cents per share, if its friendly takeover of Goldcorp Inc. gets shareholder approval. The dividend is conditional upon the approval of the deal by both Newmont’s and Goldcorp’s shareholders. Newmont shareholders vote on April 11, while Goldcorp shareholders vote April 4. If the conditions are met, the special dividend would... Read More

Navajo Nation company ends bid to buy power plant, mine

Navajo Nation company ends bid to buy power plant, mine
ALBUQUERQUE, N.M. — One of the largest coal-fired power plants in the West will close this year as planned after a Navajo Nation company ended its long-shot bid Friday to acquire it. The Navajo Generating Station has operated for decades in northeastern Arizona near the Utah border, providing a hefty chunk of revenue to the Navajo Nation. Both the Navajo... Read More

Army Corps of Engineers grants final permit for PolyMet mine

Army Corps of Engineers grants final permit for PolyMet mine
ST. PAUL, Minn. — PolyMet Mining Corp. has received the final permit it needs to proceed with building Minnesota’s first copper-nickel mine, the company and the Army Corps of Engineers announced Friday. The Corps said it issued the permit late Tuesday. It deals with the steps PolyMet must take to mitigate the project’s effects on wetlands. The announcement said the... Read More

Investors raise concerns on Newmont’s proposed takeover of Goldcorp

Investors raise concerns on Newmont’s proposed takeover of Goldcorp
VANCOUVER — Investors are raising concerns about Newmont Mining Corp.’s proposed takeover of Goldcorp Inc. as early April votes on the deal approach. Hedge fund giant Paulson & Co. Inc. says in a letter that it believes the US$1.5-billion premium offered to Goldcorp shareholders is unjustified given the company’s poor performance. The firm, which holds 14.2 million shares in Newmont, says it does... Read More

Toronto stock market resumes upward move while U.S. markets surge

Toronto stock market resumes upward move while U.S. markets surge
TORONTO — Canada’s main stock index resumed its upward trajectory as investors responded to the Federal Reserve’s dovish outlook from Wednesday and supportive economic data at home. The S&P/TSX composite index closed up 77.03 points to 16,244.59. In New York, the Dow Jones industrial average was up 216.84 points at 25,962.51. The S&P 500 index was up 30.65 points at... Read More

Hudbay’s Rosemont mine pushes ahead despite concerns on water impacts

Hudbay’s Rosemont mine pushes ahead despite concerns on water impacts
TORONTO — A controversial mine being developed by a Canadian company in Arizona shows the lengths to which the industry will go to feed the world’s unrelenting demand for copper. Hudbay Minerals Inc. and a previous owner have been pushing to get approval for the Rosemont mine for more than a decade amid local opposition and skepticism from regulators about... Read More

Toronto and U.S. stock markets up, loonie slides lower against U.S.

Toronto and U.S. stock markets up, loonie slides lower against U.S.
TORONTO — The industrials sector helped boost Canada’s main stock index higher in late-morning trading, while U.S. stock markets also surged higher. The S&P/TSX composite index was up 44.14 points at 16,211.70. In New York, the Dow Jones industrial average was up 145.15 points at 25,890.82. The S&P 500 index was up 17.30 points at 2,841.53, while the Nasdaq composite... Read More

Materials sector weighs on stocks in Toronto, U.S. markets trade lower

Materials sector weighs on stocks in Toronto, U.S. markets trade lower
TORONTO — Losses in the materials sector weighed on Canada’s main stock index in late-morning trading, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 16.32 points at 16,171.78. In New York, the Dow Jones industrial average was down 85.17 points at 25,802.21. The S&P 500 index was down 8.78 points at 2,823.79, while the Nasdaq composite... Read More

Saskatchewan government to present first balanced budget in years

Saskatchewan government to present first balanced budget in years
REGINA — For the first time in years, the Saskatchewan Party government will present a budget that the finance minister has said is balanced. Donna Harpauer is to release the province’s 2019-2020 fiscal plan today and she’s said the government will keep its promise to return to the black. The plan to balance the books was set in motion three years ago under former premier Brad Wall... Read More

Canada’s main stock index down slightly after surging Monday

Canada’s main stock index down slightly after surging Monday
TORONTO — Canada’s main stock index was down slightly this morning following a significant gain Monday. The S&P/TSX composite index was off 19.79 points at 16,231.58 after 90 minutes of trading. The index had its highest close in nearly seven months on Monday after gaining 111.02 points. In New York, the Dow Jones industrial average was up 113.2 points at 26,027.30. The... Read More