Feb 23 (Reuters) – Miner Molycorp rose to a
quarterly profit on Thursday as it produced more rare earths and
rare-earth speciality products, and sold them at a higher
The Colorado-based company said it sees strong sales growth
over the next year, but warned that production costs would be
higher on rising chemical and labor costs.
TORONTO (Reuters) – The “honor killing” of three teenaged Canadian girls by members of their own family has prompted soul-searching in pro-immigration Canada, as it protects minority religious freedoms and upholds its liberal laws.
Muslim groups said their religion could not be blamed for the quadruple murder – an elder relative was also killed in the gruesome outburst of family violence.
Jan 26 (Reuters) – Canadian Pacific Railway (CP.TO: Quote, Profile, Research)
reported a 18.8 percent increase in fourth-quarter net income on
Thursday but an important measure of operating efficiency
weakened, a trend that will likely fuel demands by CP’s largest
shareholder for a new CEO.
CP, Canada’s second largest railway, said its operating
ratio rose to 78.5 percent in the quarter, from 77 percent in
the year-ago period. That compares with a ratio of 64.7 percent
for Canadian National Railway, the country’s largest.
TORONTO, Jan 23 (Reuters) – Canada’s top securities
regulator said on Monday it extended the cease-trade order on
shares of Sino-Forest (TRE.TO: Quote, Profile, Research), the China-focused forestry
company accused of fraud, to April 16.
The Ontario Securities Commission requested the extension as
its staff interviews witnesses and reviews related documents.
The regulator is also seeking additional information from the
company’s independent review committee.
MEXICO CITY (Reuters) – Two weeks after a pipeline leak in coastal Mexico sent oil gushing into a river, state oil monopoly Pemex has recovered about two-thirds of the spilled crude, but the full clean-up could take another month.
Mexico’s environmental protection agency, Profepa, is supervising containment of the 1,500-barrel spill that killed fish, injured wildlife and left greasy slicks in the Coatzacoalcos river.
TORONTO (Reuters) – Toronto’s main stock index was up more than 1 percent on Tuesday morning as heavily weighted energy and materials issues got a boost from higher commodity prices, and investor sentiment turned positive on better-than-expected data out of Europe and the United States.
Energy shares led the way, rising 2.89 percent as oil gained nearly $3 a barrel on supply fears spurred by protests in Kazakhstan and worries that supply from Iran could be hit by sanctions.
TORONTO (Reuters) – KGHM’s C$3 billion ($2.96 billion) bid for Quadra FNX is widely being viewed as a low-ball offer, and its proposal may well result in a full-blown bidding war for the Canadian miner, which controls one of the world’s largest undeveloped copper projects.
Even though copper prices have pulled back in the wake of the euro zone debt crisis and economic uncertainty in other parts of the world, analysts believe a dearth in large-scale copper assets bodes well for the price of the metal.
TORONTO/BISHKEK, Dec 5 (Reuters) – A group of
protesters in Kyrgyzstan said on Monday they would remove a
week-long roadblock that has interrupted supplies to Centerra
Gold’s Kumtor mine in the restive Central Asian republic
after striking a deal for more community involvement.
Toronto-listed Centerra Gold had said it was reducing
activity at the open-pit mine, which contributes nearly 10
percent of Kyrgyzstan’s gross domestic product, after the
blockade at a marshaling yard disrupted fuel and other supplies.
TORONTO, Dec 2 (Reuters) – Canada is reviewing a
policy that restricts foreign ownership of uranium mines, but
there has been no decision on revising those rules at this time,
Natural Resources Minister Joe Oliver said on Friday.
Canada is the world’s second largest producer of uranium and
home to the highest grade uranium mines in the world.
TORONTO (Reuters) – Rio Tinto’s battle to secure its foothold in Canada’s uranium-rich Athabasca region has only just begun now that it has apparently won a bidding war to gain control of Hathor Exploration.
While the path is now clear for Anglo-Australian giant to acquire the exploration-stage company, a whole new set of rules will apply to Rio once Hathor’s flagship Roughrider project nears production.