TORONTO/CALGARY, Alberta (Reuters) – Enbridge Inc, Canada’s No. 2 pipeline company, reported a 14 percent jump in quarterly earnings on Wednesday and said it remains committed to building the controversial C$5.5 billion ($5.5 billion) Northern Gateway pipeline despite fierce opposition from communities along the route.
At its annual meeting in Toronto on Wednesday, the Calgary-based company was greeted by protesters from environmental groups and from some of the British Columbia aboriginal groups that have staunchly opposed the project over worries that oil spills could contaminate their water supplies.
TORONTO, May 9 (Reuters) – Cliffs Natural Resources Inc
said on Wednesday that its board approved plans to
conduct a feasibility study for its proposed $3.3 billion
chromite project in the Ring of Fire region of Northern Ontario.
The Cleveland-based miner also announced plans to build a
ferrochrome processing facility in Sudbury, a nickel mining hub
that is home to major Xstrata Plc and Vale Sa
TORONTO, May 8 (Reuters) – Research In Motion Ltd
has named a technology marketing veteran to build
excitement around the launch of its next-generation BlackBerry
10 smartphones later this year, sending its downtrodden share
Shares of RIM rose as much as 3 percent on Tuesday after it
said Frank Boulben, who was executive vice president of
strategy, marketing and sales for ill-fated telecom startup
LightSquared, would assume the role of chief marketing officer.
The position had been vacant for a year.
TORONTO, May 6 (Reuters) – Louis James, a mining investment
strategist at Casey Research’s office outside Seattle, first
started to hear the odd question about graphite a year ago.
Today the buzz is deafening, he says, and shares of
companies involved in graphite – a once-obscure segment of the
mining industry – have soared, probably to unsustainable highs.
TORONTO (Reuters) – Endeavour Silver Corp (EDR.TO: Quote, Profile, Research, Stock Buzz), fresh off announcing a $250 million deal to buy AuRico Gold Inc’s AUG.TO El Cubo silver-gold mine in Mexico, is open to more acquisitions, though its immediate focus is on unlocking El Cubo’s value, the company’s CEO said on Monday.
With the deal expected to close within 45 days, Endeavour will spend the next few months developing a plan to improve operations and increase output at El Cubo, Chief Executive Bradford Cooke told Reuters.
* Most mining-related engineers hired before graduation
* U.S. mining grads earn about 50 pct more than college median
* Admissions tripling at Canadian mining schools
* Deficit of mid-career mining professionals dire
* Geologists face more challenges, lower pay than engineers
By Julie Gordon
(Reuters) – When Travis Howard started his degree at the Colorado School of Mines four years ago he decided to pursue a double major in mechanical engineering and metallurgy to give himself the best chance of landing a high-paying job when he graduated.
Turns out he had nothing to worry about. The 21-year-old, who dropped his mechanical classes to focus on mining after his second year, has accepted a job with Kinross Gold Corp (K.TO: Quote, Profile, Research) at a starting salary of $64,000 a year plus bonuses.
April 15 (Reuters) – When Travis Howard started his degree
at the Colorado School of Mines four years ago he decided to
pursue a double major in mechanical engineering and metallurgy
to give himself the best chance of landing a high-paying job
when he graduated.
Turns out he had nothing to worry about. The 21-year-old,
who dropped his mechanical classes to focus on mining after his
second year, has accepted a job with Kinross Gold Corp at
a starting salary of $64,000 a year plus bonuses.
TORONTO, March 30 (Reuters) – The prospects of a mining boom
in Canada’s Arctic territory of Nunavut – once as bright as the
Northern Lights – are fading fast as costs in the inhospitable
region spiral higher, forcing writedowns on two major gold
The sparsely populated territory has gained a reputation as
one of the most promising regions in Canada for exploration,
with prospectors promoting discoveries ranging from gold to
uranium. But getting the ore out of the ground is a different
TORONTO, March 27 (Reuters) – Demand from mining companies
for alternative financing like stream deals or royalties is at
an all-time high, but deals over $500 million will be few and
far between, with most happening in the mid-tier market, the
head of a leading royalty company said on Tuesday.
With share prices lagging, miners are wary of turning to
equities markets to raise money and are looking at all
alternatives, Franco-Nevada Corp Chief Executive David
Harquail said at the Reuters Mining and Steel Summit in Toronto.
TORONTO (Reuters) – Barrick Gold (ABX.TO: Quote, Profile, Research, Stock Buzz) sees lower cash costs at its Lumwana mine in Zambia in 2013 as mining at the copper project moves out of the lower grade material in the Malundwe pit and into the new Chimiwungo pit, Chief Executive Aaron Regent said on Monday.
“We’ve got to transition into Chimi, stabilize the mining operations at Chimi, and then we do anticipate seeing improved production and copper performance,” said Regent, speaking at the Reuters Mining Summit in Toronto.