TORONTO, March 17 (Reuters) – An aboriginal protest movement
that’s often compared with Occupy Wall Street has the potential
to disrupt mining projects across Canada, threatening to
undermine the country’s coveted reputation for low-risk resource
Idle No More, a grass-roots movement with little centralized
leadership, swept across Canada late last year with the help
social media. Protesters blocked roads and rail lines, and
staged big rallies in the country’s largest cities to press a
sweeping human rights and economic development agenda.
March 14 (Reuters) – Molycorp Inc said on Thursday
it planned to cut an unspecified number of jobs as it reported a
fourth-quarter loss and booked an impairment charge related to
its 2012 takeover of rare earth processer Neo Material
The miner, hit by lower rare earth prices and higher costs,
said it will take a goodwill impairment charge of $258.3 million
in the fourth quarter related to the $1.3 billion takeover.
March 8 (Reuters) – Goldcorp Inc, Canada’s
second-largest gold mining company, has no plans to diversify
away from gold into other metals and remains focused on
increasing its gold output, Chief Executive Chuck Jeannes said
Jeannes, speaking at an investor day in Boston, also said
Goldcorp has reviewed its plans in light of costs weighing on
the mining industry and remains focused on managing those costs
while increasing output.
TORONTO, March 6 (Reuters) – Most of the world’s top miners
are shying away from takeovers this year, clearing the way for
mid-tier producers like HudBay Minerals Inc to make
competitive bids for assets coming up for sale, the company’s
CEO told Reuters at a Toronto mining convention.
After being burned by costly deals made during the boom,
most major metals companies have pledged to rein in costs – with
some even looking to divest non-core assets.