Canada

Canadian uncommon earth and metals recycler Cyclic Products Inc. will supply at least 10 thousand metric tones of recycled copper to Glencore as the Swiss miner aims to protect copper that is anticipated to soar in need in the coming years, Cyclic Materials' CEO said. As part of a multi-year arrangement, Cyclic Materials will sell copper scrap to Glencore, which will process and refine the metal at its Horne smelter and Copper Refinery in Quebec to turn it into copper cathodes. The Horne smelter is The United States and Canada's. biggest recycler of copper and rare-earth elements, according to. Glencore....

U.S. Presidentelect Donald Trump said on Saturday he had a very efficient meeting with Canadian Prime Minister Justin Trudeau in which they talked about borderrelated concerns and other subjects including trade, energy, and the Arctic. Trudeau flew to Florida on Friday evening and had dinner with Trump at his Mar-a-Lago residence, days after Republican politician Trump had actually pledged to impose tariffs on Canadian and Mexican imports after he is sworn in as president in January. That pledge has raised fears of a trade war in between the U.S. and 2 of its biggest trading partners. Mexico President Claudia Sheinbaum...

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

Oil producers in Canada and Mexico will likely be required to lower rates and divert supply to Asia if U.S. Presidentelect Donald Trump enforces 25% import tariffs on unrefined imports from the two nations, traders and analysts stated. 2 sources knowledgeable about Trump's plan informed Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico, in spite of the U.S. oil market's cautions that the policy might harm customers, market and national security. The United States accounts for 61% and 56% of unrefined exports from Canada and Mexico, respectively, ship tracking data from...

Alimentation CoucheTard is ruling out a hostile takeover quote for Japan's. 7 & & i, the Nikkei company daily quoted the. Canadian suitor's chairman and cofounder, Alain Bouchard, as. stating. In an interview with Japanese media carried out in Canada on. Thursday, Bouchard stated a hostile bid was not amongst aspects. being thought about, indicating the company's objective to secure. a friendly acquisition deal, the Nikkei reported. Couche-Tard, which competes with Seven & & i in the North. American filling station market, in August made an initial quote to. take control of the Japanese retail giant. It later on raised...

The Ontario federal government fined Imperial Oil C$ 900,000 ($ 641,391) for a slop oil leak into a. tank containment location at its Sarnia site in 2021 that had an. unfavorable effect on people. Slop oil is a waste item that is normally composed of. crude oil, water and waste solids and can include different. pollutants like hydrogen sulphide. The Canadian business pleaded guilty under the Environmental. Defense Act in a provincial court on Sept. 16, a spokesperson. stated, for an occurrence on April 15, 2021, where nearly 1,150. litres (7.3 barrels) of slop oil was released. The discharge negatively...

Artisan Partners, a U.S.based investor in Japanese retail giant Seven & & i Holdings, contacted the company's special committee to consider a bidding procedure of completing takeover propositions to secure the greatest offer. The 7-Eleven convenience store owner got a buyout proposition from a member of its starting Ito household, it said on Wednesday, a prospective $58 billion white-knight quote as it weighs a competing deal from Canada's Alimentation Couche-Tard. The offer from Ito-Kogyo, a company linked to Seven & & i Vice President Junro Ito, is non-binding and under review by the same special committee established to assess Couche-Tard's...

Japan's Seven & & i Holdings is thinking about introducing a management buyout that would see the seller go private, the Nikkei paper and Bloomberg News reported on Wednesday, a deal that might be worth up to 9 trillion yen ($ 58.2 billion). 7 & & i faces a takeover bid from Canada's Alimentation Couche-Tard and has been under pressure to increase business worth. Going private would therefore allow the company to continue under its existing management and get rid of the pressure from shareholders to sell more of its possessions - as well as eliminate the danger of a...

Canada's primary stock index fell to a. threeweek short on Thursday in a larger selloff led by technology. shares, after uninspiring earnings from Wall Street tech giants. moistened general market belief. The Toronto Stock market's S&P/ TSX composite index. was down 324.43 points, or 1.32%, at 24,183.36. However, the index was set to log monthly gains. At least ten sectors on the index nursed losses led by a. 2.4% drop in the information technology sector,. matching a steep fall in the tech-heavy Nasdaq index. The materials sector and heavyweight financials. also dropped 2.3% and 1.2%, respectively. Wall Street was the...

Expand Energy published a. surprise profit for the third quarter on Tuesday but projection. 2025 production to remain flat in the middle of suppressed gas prices. Typical U.S. gas prices rose 14.5% sequentially. throughout the third quarter after Hurricane Helene required producers. to shut production in the Gulf of Mexico. However, they remained listed below the 2023 levels as elevated. storage levels and lukewarm demand continued to offset gains. from production shut-ins. The company, earlier known as Chesapeake Energy before its. $ 7.4 billion acquisition of Southwestern Energy, likewise approved a. fresh share buyback program worth $1 billion. The leading...

7 & & i Holdings' strategy to hive off underperforming services will enable it to expand its core 7Eleven convenience stores, its chief executive said on Thursday, as the Japanese seller seeks to prevent a $47. billion Canadian takeover. Seven & & i, which is holding an investor day instruction with. experts and investors, is battling to remain independent after. Canada's Alimentation Couche-Tard used to buy it. It has said it is positive it can unlock investor. value itself. Under the restructuring announced this month, it. goals to split off the supermarket operation and some 30 other. non-core units into...

Futures for Canada's primary stock index increased on Wednesday, driven by gains in metal rates, as domestic financial information and quarterly incomes reports from significant U.S. banks remained in focus. December futures on the S&P/ TSX index were up 0.2%. at 6:07 a.m. ET (10:07 GMT). The products sector got the spotlight as gold costs. acquired due to weaker equities and bond yields, while a rise in. copper prices likewise provided support. Canada's energy sector remained in focus as oil prices. steadied after a sharp fall in the previous session, partially. supported by OPEC+ supply curbs and uncertainty around dispute....

Arbitration procedures between Canadian miner FrancoNevada and Panama over the Cobre Panama copper mine went into a brand-new phase this week with the development of a tribunal to hear the case, according to legal disclosures submitted by the parties. Financiers are awaiting Panama President Jose Raul Mulino's. decision over the future of the mine, which was closed down last. year due to public unrest. Cobre Panama is the flagship mine of. Canadian miner Very first Quantum Minerals, which is likewise. looking for damages from Panama. FrancoNevada had a streaming contract with First. Quantum to buy gold and copper from Cobre...

Huawei's new Mate 70 smart device consists of a chip whose style reveals only an incremental improvement over its predecessor and, contrary to some expectations, was made using the 7 nanometer (nm) procedure node, consultancy TechInsights said on Wednesday. The consultancy stated a teardown it conducted of the Mate 70 Pro+ discovered that it contains a Kirin 9020 processor that was produced by Chinese chip foundry Semiconductor Manufacturing International Corporation (SMIC), comparable to the Kirin 9010 processor in Huawei's development Mate 60 Pro. The lack of major modifications ran counter to rumours that the phone would consist of a chipset...

The arrest of mining executives in Mali, dangers by Burkina Faso's junta to strip permits and the seizure of a Frenchrun uranium website in Niger have unsettled Western miners running in West Africa and could limit even more investments. Day-to-day production in Mali and Burkina Faso has up until now been mostly unaffected. The escalation is anticipated, nevertheless, to hit companies seeking financing and insurance coverage - curbing supply growth in Africa's engine of gold output, more than a lots individuals, including mining staff members, financiers, insurance providers and federal government sources, told Reuters. The push by Mali, Burkina Faso...

A professional employed by Facebook's parent company Meta dismissed threats to content mediators by Ethiopian rebels angered by their work, according to brand-new proof submitted in a case challenging the termination of dozens of moderators in Kenya. Last year 185 content moderators took legal action against Meta and 2 contractors, saying they had lost their jobs with Sama, a. Kenya-based company contracted to moderate Facebook material, for. trying to arrange a union. They said they were then blacklisted from requesting the. exact same functions at another company, Majorel, after Facebook altered. specialists. Moderators focusing on Ethiopia stated they were targeted...

Chilean miner Antofagasta and Jiangxi Copper have agreed considerably lower copper concentrate processing costs for 2025, four sources with understanding of the matter informed Reuters on Thursday. The contract in between Antofagasta and Jiangxi Copper for treatment and refining charges (TC/RCs) of $21.25 a heap and 2.125 cents per pound represents a drop of 73.4% from the $80/8. cents market standard for 2024, an indication of concerns about. sufficient availability of copper concentrate in the area market. in 2025. Antofagasta decreased to comment. Jiangxi Copper was not. instantly offered for comment. The costs, known as treatment and refining charges (TC/RCs),....

Canadabased uranium miner NexGen Energy stated on Wednesday it has actually penned contracts with multiple U.S. energy business to provide 5 million pounds of the nuclear fuel component. WHY ITS IMPORTANT Nuclear power has actually seen a revival in the current years fueled by the rapid advancement of artificial intelligence (AI) and power-hungry information centers even as significant business have actually made commitments to achieve carbon neutrality within the next years. NexGen Energy is also in discussions with extra U.S., European, and Asian energies for similar agreements. CONTEXT The U.S. Energy Information Administration (EIA) price quotes record-high power intake in...

Canada's uranium miners, confident that just they can fulfill U.S. need for the component after Russian supply curbs, have actually accelerated output and forward agreements to supply U.S energy companies, however they are now worried about possible tariffs from U.S. Presidentelect Donald Trump. Shares of uranium companies rallied in Toronto and New York over the last 2 weeks on news that Russia was preparing to limit the sale of enriched uranium to the U.S. . This week, Trump threatened to slap a 25% tariff on all goods from Canada and Mexico. This might pump up costs of the radioactive product...

The outgoing administration of U.S. President Joe Biden is making a lastditch push for mining business and others to buy Greenland, a relocation focused on sealing its vital minerals diplomacy and enhancing Western supply of materials for the energy transition. Before President-elect Donald Trump takes workplace in January, Biden and his staff have been taking multiple steps to fortify their legacy, including increasing help to Ukraine and hurrying to approve U.S. mine permitting and financial rewards. Jose Fernandez, the State Department's under secretary for economic development, energy and the environment, spent four days in Nuuk last week to meet with...

Saudi Arabia on Tuesday agreed nine financial investment handle metals and mining worth more than 35 billion riyals ($ 9.32 billion) with business consisting of India's Vedanta and China's Zijin Group. The deals were revealed during the World Financial investment Conference in Riyadh by the International Supply Chain Strength Effort, a government programme under the Saudi government's. National Investment Technique. The kingdom's growing mining industry becomes part of the Vision. 2030 plan to diversify the economy and cut dependence on fossil. fuels. The federal government intends to draw in $100 billion a year in. foreign financial investment under the plan...

Tesla's electrical vehicles likely would not qualify for California's new state tax credits under a proposal in the works if President-elect Donald Trump scraps the federal tax credit for EV purchases, Governor Gavin Newsom's office stated on Monday. Trump's shift team is thinking about removal of the federal tax credit of $7,500 for EV purchases, Reuters reported this month. Tesla CEO Elon Musk is a close Trump advisor and states he supports eliminating all subsidies for EVs, oil and gas. Newsom said on Monday that if Trump gets rid of a federal EV tax credit, he will propose producing a...

SoftBankbacked Indian shopping site OfBusiness has appointed five investment banks including India's Axis Capital, Morgan Stanley and JPMorgan for its as much as $1 billion IPO targetted for 2025, a top executive informed Reuters on Wednesday. Citigroup and Bank of America have also been provided the required to handle the stock offering which the business goals to introduce late next year, stated Chief Financial Officer Bhavesh Keswani. Reuters is first to report the bank appointments for OfBusiness' IPO. They come amidst a flurry of IPOs in India - 290 business have actually raised more than $15.5 billion as of mid-November,...

Canada's main stock index increased on Monday, boosted by mining and energy business that gained on the back of higher gold and oil prices respectively. The S&P/ TSX composite index closed up 74.51 points, or 0.3%, at 24,965.19. Gold costs rose greatly on Monday as investors looked for a. safe house to park cash after the Russia-Ukraine war escalated. The stalled U.S. dollar, which has been rising for the previous couple of. weeks, contributed to the bullion need. Spot gold jumped 1.84% to $2,608.57 per ounce,. helping basic materials or mining companies post an. boost of 2.32%. Gold is carrying...