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May 16, 2014

Canada trimmed Russia sanctions to protect business interests

OTTAWA/TORONTO, May 16 (Reuters) – Canada broke with the
United States and did not impose sanctions on two key allies of
Russian President Vladimir Putin because the pair had Canadian
business interests, according to sources familiar with the
matter.

The revelation puts into question the government’s tough
line on Russia over the crisis in Ukraine. Prime Minister
Stephen Harper recently compared Putin’s actions to those of
Adolf Hitler in the run-up to World War Two.

May 13, 2014

BlackBerry to let rival systems manage its devices

TORONTO, May 13 (Reuters) – BlackBerry Ltd said on
Tuesday it planned to allow rival mobile device management
players to manage its BlackBerry 10 devices on the internal
networks of their clients, marking a slight shift in strategy
for the embattled technology company.

Waterloo, Ontario-based BlackBerry said VMware Inc
subsidiary AirWatch, Citrix Systems Inc and
International Business Machines Corp would be the first
companies to manage its new line of smartphones on their own
mobile device management systems.

May 13, 2014

BlackBerry aims to reverse emerging market slump with budget handset

JAKARTA/TORONTO (Reuters) – BlackBerry Ltd launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled smartphone maker looks to revive sales in emerging markets like Indonesia where its once-fervent following has shriveled.

The handset, to be presented at a glitzy launch event in the Indonesian capital on Tuesday, is the first in a line of devices being made with FIH Mobile Ltd, a unit of the giant Taiwanese Foxconn Technology Group best known for assembling gadgets like iPhones and iPads for Apple Inc.

May 7, 2014

Encana to double oil output with $3.1 bln U.S. shale deal

TORONTO, May 7 (Reuters) – Canada’s largest natural gas
company Encana Corp said on Wednesday it is
buying producing assets in the Eagle Ford shale field in Texas
from Freeport-McMoRan Copper & Gold for $3.1 billion,
nearly doubling its oil output.

Encana has been concentrating on five shale fields that are
rich in oil and natural-gas liquids to lessen its dependence on
lower-value gas. This transaction will add a sixth focus area
and is aligned with Encana’s growth strategy, the company said.

Apr 28, 2014

Newmont terminates merger talks with Barrick; shares slide

TORONTO (Reuters) – Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) said on Monday it has terminated merger talks with Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) (ABX.N: Quote, Profile, Research, Stock Buzz), slamming its suitor and stating bluntly that talks failed due to the lack of a constructive, mutually respectful dialogue.

Denver-based Newmont broke its silence around the proposed deal on Monday, criticizing Barrick’s outgoing Chairman and founder Peter Munk and its current co-chairman and incoming chair John Thornton.

Apr 25, 2014

Canada energy minister urges U.S. to ‘depoliticize’ Keystone XL

MISSISSAUGA, Ontario (Reuters) – Canada’s new energy minister, Greg Rickford, says he hopes the Obama administration will “depoliticize” its decision on the Keystone XL pipeline, adding he is optimistic that Washington will eventually give the green light to the project, which is stoutly opposed by green groups.

“Obviously we hope sooner rather than later that this is depoliticized, if you will, and that the communities along the pipeline, which include Canada and the United States, can reap the tremendous economic benefits of Keystone,” Rickford told reporters after a speech on Friday.

Apr 24, 2014

Barrick-Newmont make merger headway but divide remains: sources

By Euan Rocha, Nicole Mordant and Soyoung Kim

(Reuters) – The disagreements around the spin-out of certain assets that had snagged merger talks between Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) and its rival, Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz), have been resolved but talks are at a standstill for now, said three sources familiar with the matter on Wednesday.

There have been some talks between representatives of both companies since discussions broke down last Thursday, but high-level talks between executives from both sides have yet to resume, said the sources, who asked not to be named due to the sensitive nature of the discussions.

Apr 21, 2014

Barrick-Newmont union: is the third time the charm?

TORONTO/VANCOUVER, April 21 (Reuters) – Barrick Gold Corp
has tried and failed to buy Newmont Mining Corp
twice in the past decade, but the rationale is now more
compelling than ever for a merger between two of the world’s
largest gold miners.

The two companies have been weakened by massive asset
write-downs and the derailment of two vital growth projects in
Latin America in the last two years, as the price of gold has
slid 33 percent since peaking in 2011. These issues have led to
credit rating downgrades and forced both miners to sell some
assets.

Apr 21, 2014

Goldcorp bows out of bidding war for rival Canadian miner Osisko

TORONTO (Reuters) – Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz) said on Monday it is walking away from its hostile bid to buy Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz), clearing the way for Yamana Gold Inc (YRI.TO: Quote, Profile, Research, Stock Buzz) and Agnico Eagle Mines Ltd (AEM.TO: Quote, Profile, Research, Stock Buzz) to take control of Osisko’s flagship Canadian Malartic mine.

The white-knight bid, which the companies valued at C$3.9 billion ($3.5 billion) when it was announced last week, would see Yamana and Agnico take joint control of most Osisko assets, and spin out some exploration properties into a new entity.

Apr 21, 2014

Barrick proposal to acquire Newmont hits roadblock: sources

TORONTO (Reuters) – The talks between Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) and Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) over a combination that would create a gold mining behemoth have hit a snag, but two sources close to the situation say the companies remain keen on a deal and discussions are likely to resume.

The talks had been on for a few weeks and the two sides had broadly agreed to a transaction that would see Barrick acquire Denver-based Newmont in an all-stock deal, said one source close to the matter, adding that the deal would offer Newmont shareholders a slight premium to its current share price.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
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