Cameco shares down after “disappointing” payout in arbitration ruling

Cameco shares down after “disappointing” payout in arbitration ruling
SASKATOON — Uranium producer Cameco Corp.’s shares were trading down more than eight per cent Monday after the company received a smaller sum than it was seeking in an arbitration dispute. Downward pressure that sent the stock price down $1.46 to $13.05 on the Toronto Stock Exchange followed what the company called a “disappointing” award of damages. Cameco says a tribunal of international arbitrators ruled that a Japanese utility did not... Read More

Barrick says Tethyan Copper joint venture awarded US$5.84B in damages

Barrick says Tethyan Copper joint venture awarded US$5.84B in damages
TORONTO — Barrick Gold Corp. says a joint venture it holds with Chilean miner Antofagasta plc has been awarded US$5.84 billion in damages in connection with its Reko Diq project in Pakistan. The gold miner says the World Bank International Centre for Settlement of Investment Disputes awarded the damages in connection with arbitration claims filed against the Islamic Republic of... Read More

Cenovus produces one billionth barrel from thermal oilsands operations

Cenovus produces one billionth barrel from thermal oilsands operations
CALGARY — Cenovus Energy Inc. says its thermal oilsands operations in northern Alberta produced their one billionth barrel of bitumen on Wednesday. The milestone comes about 18 years after Cenovus’ Foster Creek facility was launched in 2001 as the first commercial oilsands project to use steam-assisted gravity drainage technology or SAGD. Its sister project at Christina Lake began producing oil a year... Read More

Hudbay Minerals CEO Alan Hair stepping down, Peter Kukielski named interim CEO

Hudbay Minerals CEO Alan Hair stepping down, Peter Kukielski named interim CEO
TORONTO — Hudbay Minerals Inc. says Alan Hair has stepped down as president and chief executive and a director of the company. Hair spent more than 20 years with Hudbay including as chief operating officer from 2012 to 2015 before being appointed president and chief executive in 2016. The Hudbay board has started a search for a permanent chief executive. Meanwhile,... Read More

Aben Resources Announces the Commencement of Diamond Drilling at the Forrest Kerr Gold Project in BC’s Golden Triangle and the Completion of Drilling at the Justin Gold Project in the Yukon

Aben Resources Announces the Commencement of Diamond Drilling at the Forrest Kerr Gold Project in BC’s Golden Triangle and the Completion of Drilling at the Justin Gold Project in the Yukon
VANCOUVER –  Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2)  has announced the commencement of diamond drilling at the Forrest Kerr Gold Project in BC’s Golden Triangle and the completion of the 2019 drill program at the Justin Gold Project in the Yukon. The Company is planning to start with another 5000-meter drill program at Forrest Kerr this year that can be... Read More

Nutrien says 34 workers trapped underground after service shaft malfunction

Nutrien says 34 workers trapped underground after service shaft malfunction
SASKATOON — Nutrien Ltd. says 34 maintenance workers have been trapped in its Cory potash mine in Saskatchewan since Tuesday afternoon. Company spokesman Will Tigley says the service shaft to lift the workers out of the mine has stopped working and the company is working on a solution. He says the maintenance workers are safe underground and have halted work. Tigley says the... Read More

Statistics Canada says real GDP grew 0.3 per cent in April, tops expectations

Statistics Canada says real GDP grew 0.3 per cent in April, tops expectations
OTTAWA — The Canadian economy grew more than expected in April, helped by the oil and gas sector. Statistics Canada says real gross domestic product grew 0.3 per cent in April, following a 0.5 per cent increase in March. Economists had expected growth of 0.1 per cent for April, according to Thomson Reuters Eikon. The mining, quarrying and oil and... Read More

B.C.’s Blackwater gold and silver mine gets environmental approval

B.C.’s Blackwater gold and silver mine gets environmental approval
VICTORIA — An environmental assessment certificate has been granted for the Blackwater gold mine southwest of Vanderhoof, B.C. A joint news release from the Ministry of Environment and Ministry of Mines says the decision came after considering the report from the Environmental Assessment Office and submissions from Indigenous Nations. The proposed New Gold Inc. open-pit gold and silver mine would have... Read More

Climate activists end their blockade of German coal mine

Climate activists end their blockade of German coal mine
BERLIN — Hundreds of climate activists called an end to their protest Sunday inside one of Germany’s biggest open-pit mines after police repeatedly ordered them to leave, citing life-threatening danger, and authorities pulled some protesters out. The Garzweiler lignite coal mine has been the focal point of environmental protests in Germany’s Rhineland region since Friday, when 40,000 students rallied for... Read More