Barrick proposes to consolidate ownership of Acacia Mining with stock swap

Barrick proposes to consolidate ownership of Acacia Mining with stock swap
TORONTO — Barrick Gold Corp. has made a proposal to acquire the shares in Acacia Mining that it does not already own. Under the proposal, Barrick, which holds a majority stake in the African gold miner, would swap 0.153 of a Barrick share for each Acacia share. The offer implies a value for Acacia of US$787 million, and the total consideration for... Read More

First Cobalt strikes partnership with Glencore for Ontario cobalt refinery

First Cobalt strikes partnership with Glencore for Ontario cobalt refinery
TORONTO — First Cobalt Corp. says it has struck a partnership with commodities giant Glencore AG for the development of its cobalt refinery in Ontario. The company says it has a memorandum of understanding that would see Glencore provide raw material to feed the refinery, as well as evaluate making a loan to the company. First Cobalt says the refinery, which was... Read More

Energy stocks lead Toronto market higher as North American stocks bounce back

Energy stocks lead Toronto market higher as North American stocks bounce back
TORONTO — Energy stocks helped boost Canada’s main stock index higher in late-morning trading as North American stocks bounced back after taking a hit to start the week due to the escalating U.S.-China trade war. The S&P/TSX composite index was up 59.14 points at 16,252.55. In New York, the Dow Jones industrial average was up 242.41 points at 25,567.40. The... Read More

Just add water: Salt battery could help renewable energy use

Just add water: Salt battery could help renewable energy use
BERLIN — Amid the hum and heat of Berlin’s Reuter thermal power station stands a shining contraption that looks out of place in the decades-old machine hall. Its silver pipes and vats contain a substance that Vattenfall, the plant’s operator, says could become a key ingredient for a fossil fuel-free future. The energy company, together with a Swedish start-up, is... Read More

Hudbay Minerals reaches settlement with investor on board composition

Hudbay Minerals reaches settlement with investor on board composition
TORONTO — Hudbay Minerals Inc. says it has reached a settlement agreement with an activist investor that wanted changes to company leadership. The Toronto-based miner says it has agreed with Waterton Global Resource Management on a slate of 11 board of director candidates for the company’s May 7 annual meeting. The slate includes seven incumbent directors, one Hudbay nominee, one shared nominee... Read More

Toronto stock market falls again while Nasdaq drops from high after Alphabet miss

Toronto stock market falls again while Nasdaq drops from high after Alphabet miss
TORONTO — Canada’s main stock index fell slightly for a second straight day while the Nasdaq dropped from Monday’s record high on a disappointing result from Google parent company Alphabet. The S&P/TSX composite index closed down 19.64 points at 16,580.73. In New York, the Dow Jones industrial average was up 38.52 points at 26,592.91. The S&P 500 index was up 2.80... Read More

Newmont Goldcorp suspends Penasquito operations due to local blockade

Newmont Goldcorp suspends Penasquito operations due to local blockade
VANCOUER, B.C. — Newmont Goldcorp Corp. says it will temporarily suspend operations at its only operating mine in Mexico because of a local blockade. The company says the Penasquito mine in Zacatecas will stay shut pending resolution of what it says is an illegal blockade started March 27 by a trucking contractor and some members of the Cedros community. It says... Read More