TORONTO, Feb 10 (Reuters) – Canadian base metal miner HudBay
Minerals Inc said it plans to buy exploration company
Augusta Resource Corp in a bid to gain control of its
Rosemont project in Arizona, an asset widely viewed as one of
the most promising copper projects in the United States.
The strategically timed bid, announced late Sunday, comes
just weeks before Augusta is expected to receive final approvals
that would allow it to begin development and construction work
on the asset that could account for as much as 10 percent of
U.S. copper output, making Rosemont the third largest copper
mine in the country.
Feb 6 (Reuters) – Two of the world’s largest law firms are
picking off lawyers from Canada’s Heenan Blaikie, which moved to
wind down operations on Wednesday in the biggest collapse of a
law firm in the country’s history.
DLA Piper, the world’s largest law firm, is in talks to
recruit a group of 55 to 70 lawyers from the firm’s Toronto and
Calgary offices, while Dentons, which ranks as the world’s
seventh largest firm, has hired five real estate lawyers and
three corporate lawyers in Toronto and Montreal.
TORONTO, Feb 5 (Reuters) – Canada Pension Plan Investment
Board said on Wednesday it will open an office in Sao Paulo in
April, intent on boosting real estate and infrastructure
investments in the region even as money is flowing out of
CPPIB, a global dealmaker intent on diversifying its C$192.8
billion ($174 billion) portfolio, said the timing for opening
its fifth global office is perfect, though it noted competitors
like sovereign wealth funds are also hunting similar assets.
TORONTO, Feb 4 (Reuters) – Silver Standard Resources Inc
said on Tuesday it will buy the Marigold mine in Nevada
for $275 million in cash from joint owners Goldcorp Inc
and Barrick Gold in a move aimed at its boosting its
Vancouver-based Silver Standard, which owns the Pirquitas
silver mine in Argentina, said the transaction adds an operating
mine in a well-established, low-risk mining jurisdiction to its
TORONTO (Reuters) – Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) said on Monday it has agreed to acquire privately held PreCision Dermatology Inc for $475 million in cash to strengthen its skin products business.
The deal, which is set to close in the first half of 2014, is expected to immediately add to Valeant’s cash earnings per share after closing.
TORONTO (Reuters) – Wind Mobile, one of the smallest players in Canada’s wireless market, said on Thursday it was offering a new low-cost unlimited U.S. roaming plan, a traditionally lucrative niche for its much larger competitors.
Wind, backed by Europe’s Vimpelcom Ltd, said it would offer customers unlimited data, talk and text while traveling in the United States for C$15 ($13.42) a month.
TORONTO, Jan 28 (Reuters) – Detour Gold Corp would
consider using a hedging strategy if the price of gold drops
from current levels, the Canadian gold miner’s interim Chief
Executive Paul Martin said on Tuesday.
The board of directors has given approval for management to
hedge up to 50 percent of the output from its Detour Lake gold
mine in northern Ontario, if circumstances require such action,
said Martin, speaking from the sidelines of the TD Securities
Mining Conference in Toronto.
TORONTO (Reuters) – Shares of BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz), which have been on a tear so far this year, rallied again on Wednesday as investors eyed a cash windfall from the technology company’s plans to sell its Canadian real estate assets.
The Waterloo, Ontario-based company said on Tuesday it plans to divest most of the property it owns in Canada to bolster its balance sheet. Analysts believe the move will give the struggling smartphone maker more breathing room, as it attempts to alter strategic direction and turn its faded fortunes around.
TORONTO, Jan 22 (Reuters) – Timmins Gold Corp,
which owns the San Francisco gold mine in Mexico, said on
Wednesday it will sell C$25 million ($22.7 million) in equity to
a syndicate of banks, the latest in a slew of recent share
offerings from Canadian miners.
The Timmins deal, designed to strengthen its balance sheet,
builds on a wave of offerings that may signal a thaw in the
financing environment for miners, which have long been out of
favor with investors.
TORONTO (Reuters) – BlackBerry Ltd said on Tuesday it intends to divest the majority of its real estate holdings in Canada, as it seeks to bolster its balance sheet and turn around its fortunes.
In partnership with commercial real estate services company CBRE, BlackBerry said it intends to strategically divest the majority of its real estate assets via a combination of sale-leaseback and vacant asset sales.