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Apr 20, 2015

Barrick taps Michael Klein as advisor on Zaldivar mine options: sources

LONDON/TORONTO (Reuters) – Barrick Gold Corp is being advised on options for its Zaldivar copper mine in Chile by the boutique firm of mining rainmaker Michael Klein, in a deal potentially worth around $2 billion, three sources familiar with the matter said on Monday.

Toronto-based Barrick has already contacted a limited group of buyers including some diversified Chinese miners and copper companies, the sources said, declining to be identified since the matter is private.

Apr 17, 2015

Two top Canada pension funds to oppose CIBC’s executive pay plan

TORONTO, April 17 (Reuters) – Two of Canada’s largest
pension funds, shareholders of Canadian Imperial Bank of
Commerce, said on Friday they will demonstrate their
unhappiness with CIBC’s executive pay structure at the lender’s
annual meeting next week.

The Ontario Teachers’ Pension Plan Board, vexed by
multimillion-dollar payments to two retired executives, plans to
withhold support for members of CIBC’s compensation committee
and to oppose the bank’s pay structure in a nonbinding vote.

Apr 17, 2015

India’s Modi courts Canadian banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded a bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 17, 2015

Modi courts Canada banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 15, 2015

Saudi firm, Bunge to buy majority stake in Canadian grain handler

TORONTO/RIYADH, April 15 (Reuters) – Saudi Arabia’s
state-owned agricultural investment firm and U.S. grain trader
Bunge Ltd will buy a controlling stake in Canadian grain
handler CWB, in a bold move by the Gulf state to secure food
supplies.

G3 Global Grain Group, a joint venture of Bunge and Saudi
Agricultural and Livestock Investment Co (SALIC), said on
Wednesday it will buy a 50.1 percent stake in CWB for C$250
million ($201 million).

Apr 3, 2015

Barrick settles cases tied to atrocities at Porgera mine

TORONTO (Reuters) – Canadian gold miner Barrick Gold said on Friday it has settled 11 claims related to atrocities committed against women over the last two decades at its Porgera gold mine in Papua New Guinea.

The settlement reached with EarthRights International, a non-governmental organization, that was representing the women, brings to a close all of the outstanding claims made by women, who were allegedly beaten, raped, and threatened by the miner’s security personnel and employees. Some incidents dated back to even before Barrick bought the mine via its takeover of Placer Dome in 2006.

Apr 2, 2015

Hit by price dive, Canada’s Labrador Iron Mines seeks court protection

TORONTO, April 2 (Reuters) – Canada’s Labrador Iron Mines
Holdings sought court protection from creditors on Thursday,
making it the latest victim of a high-stakes battle for market
share among major producers that has sent iron ore prices
tumbling and crippled small players.

The Toronto-based company, which owns assets in the
iron-ore-rich Labrador trough in Eastern Canada, mothballed its
operations last year and is now seeking to complete a
restructuring so it can eventually resume operations.

Apr 2, 2015

Canadian equity offerings surge in first quarter on energy deals

TORONTO, April 2 (Reuters) – Royal Bank of Canada
topped Canadian equity issuances in the first quarter, lifted by
a surge in financings for energy companies looking to beef up
their balance sheets in the face of sluggish oil prices, Thomson
Reuters figures showed on Thursday.

Bank of Nova Scotia and Deutsche Bank
came in second and third, respectively, while BMO Capital
Markets and CIBC World Markets rounded out the top five,
according to the data.

Mar 31, 2015

Ontario Teachers’ Pension Plan scouting for energy assets

TORONTO, March 31 (Reuters) – The Ontario Teachers’ Pension
Plan, one of Canada’s biggest investors, said on Tuesday it is
actively scouting for energy assets as it looks to trim
positions in oil and gas derivatives and invest instead directly
in producing assets.

“We do have our natural resource group out there looking for
real assets,” said Neil Petroff OTPP’s chief investment officer,
in a media briefing after the fund manager posted a 11.8 percent
rate of return on its investments in 2014, taking net assets to
a record C$154.5 billion ($121.5 billion).

Mar 31, 2015

Amaya posts huge jump in adjusted profit; seeks Nasdaq listing

TORONTO, March 31 (Reuters) – Amaya Inc, which
recently acquired online gambling sites PokerStars and Full
Tilt, reported a near eight-fold rise in quarterly adjusted
earnings on Tuesday, and outlined plans to seek a secondary
listing on the Nasdaq.

The Montreal-based company said it plans to win new clients
and supplement growth from its core poker business through
expansion into other areas such as sportsbetting, social gaming
and fantasy sports.

    • 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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