Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Telecom report The Commission for Complaints for Telecom-television Services releases mid-year report on Tuesday. A report in November found that complaints received by Canadian telecom and TV customers over the 2017-18 period were up 57 per cent from the previous year, while the total... Read More

Toronto stock market bounces back as higher oil prices help energy sector

Toronto stock market bounces back as higher oil prices help energy sector
TORONTO — Canada’s main stock index bounced back from two days of losses as increased oil prices moved the energy sector higher. The S&P/TSX composite index closed up 89.30 points at 16,155,16. In New York, the Dow Jones industrial average was up 140.90 points at 25,657.73. The S&P 500 index was up 20.10 points at 2,818.46, while the Nasdaq composite was... Read More

SNC-Lavalin considering all options after Codelco contract cancellation

SNC-Lavalin considering all options after Codelco contract cancellation
MONTREAL — SNC-Lavalin Group Inc. is leaving the door open to a lawsuit against Chile’s state-owned copper mining company, which has terminated its contract with the construction giant. A spokesman for SNC-Lavalin tells The Canadian Press that the company is looking at all options to determine whether to take legal action. The Montreal-based engineering firm has said it was “appalled and surprised” that... Read More

Newmont says ISS recommends shareholders vote in favour of Goldcorp deal

Newmont says ISS recommends shareholders vote in favour of Goldcorp deal
DENVER — Newmont Mining Corp. says proxy advisory firm Institutional Shareholder Services Inc. has recommended shareholders vote in favour of the gold miner’s acquisition of Goldcorp Inc. The company says the report found a vote in favour of the deal was warranted given what it called a solid strategic rationale and expected financial benefits, which are bolstered by the recent... Read More

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