TORONTO/VANCOUVER (Reuters) – The Canadian government is selling the nuclear reactor division of AECL to SNC-Lavalin Group, ending the flood of money it has pumped into the loss-making unit over the past six decades.
In a long-awaited announcement, the two parties said on Wednesday SNC-Lavalin will pay state-owned Atomic Energy of Canada (AECL) C$15 million ($15.4 million) plus royalties for the unit, which designs and builds nuclear reactors for generating electricity.
TORONTO/BANGALORE (Reuters) – Zinc producers are betting on higher prices in coming years, bringing a possible round of consolidation as miners jockey to reap the benefits.
Even though experts predict a surplus of zinc this year, they expect prices to rise within the next two years, and refiners, mid-sized miners and major producers are already looking for juniors to snap up.
TORONTO/BANGALORE, June 28 (Reuters) – Zinc producers are
betting on higher prices in coming years, bringing a possible
round of consolidation as miners jockey to reap the benefits.
Even though experts predict a surplus of zinc this year,
they expect prices to rise within the next two years, and
refiners, mid-sized miners and major producers are already
looking for juniors to snap up.
TORONTO, June 19 (Reuters) – Silver’s recent 30 percent
tumble presents an opportunity for bargain-hunters to buy
shares of mining companies that produce the precious metal.
While spot silver has fallen from a record $49.51 to the
mid-$30 range, it is still well above last year’s price, when
it was hovering around $18 an ounce.
PORT HOPE, Ontario (Reuters) – The lakeside town of Port Hope, Ontario, encompasses both the promise and the dark side of the nuclear industry, booming with the sector, yet saddled with contamination from when it helped build the bomb.
The town, some 110 kilometers (70 miles) from Ontario’s capital Toronto, is home to the world’s longest running facility to process nuclear fuel, a massive white eyesore that towers over the sailboats bobbing in its tranquil harbor.
TORONTO/STOCKHOLM, May 26 (Reuters) – Shares of Lundin
Mining (LUN.TO: Quote, Profile, Research, Stock Buzz) dropped nearly 20 percent on Thursday after the
Canadian-Swedish mining group said it had rejected several
buyout bids and its chief executive would resign in a month.
The company said on Wednesday it had received several
expressions of interest in all or part of the company but
decided they were all too low. [ID:nL3E7GQ00N]
TORONTO, May 24 (Reuters) – Mid-tier miner Iamgold Corp
(IMG.TO: Quote, Profile, Research, Stock Buzz) is ready for risk and acquisitions as it builds and
then spends a cash pile that will soon top $1.5 billion.
New Chief Executive Stephen Letwin, a newcomer to the
booming gold sector, told Reuters that he aims to spin off
Iamgold’s non-gold asset into a new entity and speed up the
process of developing new mines.
TORONTO (Reuters) – Harry Winston (HW.TO: Quote, Profile, Research, Stock Buzz), a company that both mines diamonds and sells them in its jewelry stores, is looking to acquire Canadian projects still in the development stage, its CEO said on Friday.
The company is also ramping up its own exploration program, as it looks to find more diamonds to meet booming demand for its signature jewels and watches in China, India and the Middle East.
TORONTO, May 11 (Reuters) – Intergeo, the Russian copper
and nickel company owned by billionaires Mikhail Prokhorov and
Maxim Finskiy, hopes to raise from C$100 million to C$500
million in a initial public offering on the Toronto Stock
Exchange by the end of the year.
Finskiy, the company’s chairman and 20 percent stakeholder,
told Reuters in an interview on Wednesday the company would
float about 10 percent of its shares in the offering.