Canada

Wall Street's major indexes closed at record highs on Monday for the second consecutive day as investors were optimistic about the prospects of a U.S. China trade deal. They also looked forward to an exciting week that will include high-profile earnings from the technology sector and the widely anticipated U.S. rate cut. U.S. president Donald Trump and his Chinese equivalent Xi Jinping will meet on Thursday in order to decide on a plan that could pause the tougher U.S. duties and China's export restrictions on rare earths. This would ease market jitters about a possible trade war, and send Wall...

Mark Carney, Canada's prime minister, will make his first official trip to Asia this Friday. He is hoping to strengthen trade and security links at a moment when North America struggles to reduce its dependence on the U.S. Canadian officials have said that Carney's trip could include a meeting between him and Chinese President Xi Jinping in an effort to restore a relationship previously strained by a trade war. Donald Trump, President of the United States Termination of trade talks Canada responded to a political ad in Ontario that featured Ronald Reagan, the Republican icon who said tariffs caused economic...

Rhino Resources, a South African oil and gas firm, plans to drill a well for appraisal on a Namibian prospect in 2019 and conduct a flow-test on another to beat TotalEnergies as the first oil producer in this southern African nation. The appraisal well is scheduled for Capricornus, where a flow rate up to 11,000 barrels per day was tested. Meanwhile, the drill stem is scheduled for Volans, which is its latest find of high-yield liquid gas condensate. The new data can help the company to accelerate its discoveries off Namibia where TotalEnergies is expected to make a final investment...

After several days of fuel station closures, and amid fears of a fuel shortage following an al-Qaeda-linked blockade of fuel imports in Mali’s capital Bamako last month, motorists waited in long lines outside the stations on Wednesday. Since last week, many stations have been forced to shut down or only supply diesel. Analysts say this is a tactic used by militant groups to put pressure on the military-led Mali government. They want to cut of its economic oxygen. In a video announcing a blockade, a militant from Jama'at Nusrat al-Islam wal-Muslimin announced that "we are telling all traders" who import...

Anglo American, the state-run Chilean copper giant Codelco and their Chilean neighbours have finalised a joint operation agreement for their Chilean copper mines. The aim is to extract at least $5 billion from their key assets. The mining plan is based on the memorandum signed in February by both Codelco and Anglo American. It relates to the Andina Mine of Codelco, as well as the Los Bronces Mine of Anglo American in central Chile near the capital Santiago. Codelco Chairman Maximo Pacheco said, "We are now able to maximise the potential of Andina-Los Bronces without major investment and with much...

Investors and bankers on Wednesday said that BHP, the world's largest copper miner, is focusing on growing its own assets as it transitions to a new leadership. This means it will not be able to gatecrash a planned $53 billion merger between Anglo American Resources and Teck Resources. Anglo American, a London-listed company, and Teck Resources, a Canadian firm, announced their merger on Tuesday. This is the second-largest tie-up in this sector. The goal of the merger is to create a global heavyweight focused on copper. The deal was announced just over a month after BHP canceled a $49-billion bid...

Bloomberg News reported that Cenovus Energy was in discussions with Indigenous groups to buy MEG Energy together. The report cited people who were familiar with the talks. The report stated that a group of First Nations communities, including Chipewyan Prairie First Nation (Chipewyan Prairie First Nation) and Heart Lake First Nation (Heart Lake First Nation), are in discussions with Cenovus to take a C$2 Billion ($1,45 Billion) stake in MEG. Bloomberg reported that the Indigenous stake would receive financial support from both the federal government and the provincial government, with Cenovus bidding for the remainder. MEG Energy shares were up...

Seven & i Holdings, a Japanese convenience store operator, said that the planned listing of their North American operations will allow them to borrow additional money for accelerated growth. Stephen Dacus, the CEO of the company, said that the listing is scheduled for the second half 2026. This will allow faster store openings in the U.S. as well as additional bolt-on M&As. After successfully repelling a hostile takeover attempt from Canadian competitor Alimentation Couche-Tard, the fate of the struggling operator of 7-Eleven rests on the ability to grow independently. Couche-Tard retracted its $46 billion bid last month citing a failure...

Suncor Energy, a Canadian oil company, exceeded analyst expectations for the second quarter profit on Tuesday as increased output offset the impact from weak commodity prices. Canada's oil-sands industry remains resilient, despite the fact that oil price volatility has pushed the energy sector into a slump. The expansion of the Trans Mountain Pipeline has provided Canadian producers with access to international markets and reduced their reliance on U.S. pipe networks. It now accounts for about 9% of Canada’s total crude oil exports. Canada exports almost 4 million barrels per day (bpd). Suncor's quarterly upstream production increased to 808100 bpd, from...

Enbridge, the Canadian pipeline operator, beat analyst's expectations for its second-quarter profits on Friday. This was boosted by earnings from newly acquired U.S. utilities and from its gas distribution business. The company announced that it had sanctioned the expansion of Aitken Creek, a gas storage facility located in British Columbia to accommodate the growing demand for LNG on the west coast of Canada. It also said that Line 31 would be expanded by 160 million cubic feet a day in the U.S. Southeast. Pipeline operators benefit from a rise in natural gas demand, driven primarily by LNG exports and rising...

Cenovus Energy, a Canadian oil and natural gas producer, reduced its forecast for its upstream production in the full year on Thursday. It cited the temporary shutdown of its Rush Lake facility. The company responded to an early-May steam leak from a casing rupture in an injection well, resulting in the temporary shutdown of Rush Lake's facilities in central-west Saskatchewan. Cenovus expects upstream production in 2025 to range between 805,000 and 825,000 barrels of oil-equivalent per day, as opposed to the 805,000 to 845,000 previously projected. The total upstream production for the second quarter was 765.900 boepd. This is down...

Alimentation Couche-Tard, a Canadian company, announced on Monday that it would resume its share repurchase programme. This comes just days after Circle K's parent company scrapped its $46 billion attempt to purchase Japan's Seven & I. The company announced that it would buy up to 77.1 millions shares, worth approximately $4.2 billion. This is part of its efforts to boost shareholder value following the failure of the long-term effort to purchase the Japan-based convenience-store chain. Couche-Tard with a market cap of $53 billion announced last week it would not pursue its bid to acquire Seven & I because the Japanese...

The shares of U.S. listed rare earth mining companies fell before the bell Monday, after Washington and Beijing agreed on a framework of a trade agreement that could pause the planned U.S. duties and Chinese export controls for critical minerals. This would ease fears of supply disruptions which had boosted this sector in the past year. The rare earths ceasefire marks a pause on one of the most important fronts in U.S.-China tensions over trade. Investors have unwound bets on the U.S. mining industry benefiting from a prolonged trade dispute. Ramaco Resources, NioCorp Developments, and Critical Metals all saw their...

Shares of U.S. listed rare earth miners dropped as much as 8% on Monday before the bell, after Washington and Beijing agreed on a framework of a trade agreement that could pause U.S. planned tariffs and Chinese controls on exports of critical minerals. This would ease fears of supply disruptions which had boosted this sector in the past year. The rare earths ceasefire marks a pause on one of the most important fronts in U.S.-China tensions over trade. China processes over 90% of rare earths in the world. It has recently increased export restrictions, adding new elements to their control...

Mark Carney, the Prime Minister of Canada, said that Canada is ready to resume talks with the United States after President Donald Trump suspended them over an anti-tariff ad issued by Ontario’s provincial government. Trump ended the talks Thursday after the video was released in which Ronald Reagan, a Republican icon and former president, said that tariffs lead to trade wars, economic disaster, and Republican icons. In a social media post made late at night, Trump branded the ad as fraudulent. Carney, since becoming Prime Minister, has made two trips to the White House to try to reach a deal...

Trilogy Metals, a Canadian miner, announced on Friday that the federal government had reissued key permits for a road planned in northwest Alaska to support future mining operations. Trilogy Metals' shares listed in the United States rose by over 8% during premarket trading. These permits were granted by U.S. agencies, including Alaska Industrial Development and Export Authority (AIDEA), the Army Corps of Engineers and Bureau of Land Management. This follows a recent order from the president to restore the approvals that were originally given in 2020. The Ambler mining district, Alaska is home to a trove of minerals and copper....

The U.S. government and Abu Dhabi will invest $1.8billion in mining and refining project across the globe, with Orion Resource Partners. This investment is to improve Western access to rare earths, lithium and other essential minerals. The plan was announced on Thursday as China, the world's largest mineral producer, is limiting access to essential minerals, even though demand has risen across the globe. This forces manufacturers to compete for new supplies. The U.S. International Development Finance Corp. (DFC), controlled by Washington and Orion, as well as the Abu Dhabi sovereign fund ADQ have each contributed $600 million to the newly-formed...

Futures tied to Canada's main resource-heavy stock index declined on Wednesday, following a sharp drop in the previous session. The decline was attributed to continued weakness in metals prices as well as uncertainty over trade and geopolitical matters. At 05:54 a.m., December futures for the S&P/TSX Index were down by 0.3%. ET (0954 GMT). Toronto's Composite Index posted its largest decline since April Tuesday, as gold prices dropped sharply. Inflation data that were hotter than expected also reduced expectations of an imminent Bank of Canada rate cut. Silver prices fell 1%, and the precious metal price dropped more than 5%...

Futures linked to Canada's major stock index rose Thursday on the back of higher commodity prices. Investors awaited comments by Bank of Canada Governor Tiff MacKlem, who could provide clues about interest rate reductions by the central banks. At 5:36 a.m., December futures for the S&P/TSX Index were up by 0.2%. ET (0936 GMT). Macklem will speak at 13:30 ET on Canada's Economic Outlook. The market participants have priced in a 66% chance of a rate cut of 25 basis points at the policy meeting on October 29. Many analysts think that despite the unexpectedly strong jobs report last week,...

Treasury Secretary Scott Bessent announced on Wednesday that the Trump administration would seek to tighten its control over strategic industries by taking more equity stakes into key companies in order to counter China's export restrictions and economic policies. Bessent said at a CNBC conference that China's new restrictions on rare-earth minerals and magnets demonstrate the need for the U.S. be self sufficient in critical materials, or to rely on trusted allies more. Bessent explained that when facing an economy which is not a market economy, such as China, you must exercise industrial policy. Under Donald Trump's presidency, the U.S. has...

Analysts said that Canadian aluminium producers increased their deliveries to the United States as the U.S. physical market prices have risen in response to the 50% tariffs on imports imposed earlier this year by President Donald Trump. Analysts said that the tariffs imposed in June were intended to increase domestic aluminium production, and to encourage investment for the metal which is used in power, construction and packaging. In the beginning, Canadian producers diverted aluminium to Europe. This flow has reversed as inventories of aluminium, which were a buffer to U.S. consumer, have decreased. Not a 'full pace' yet Jean Simard...

Titan Mining announced on Tuesday that it will begin producing graphite at its Empire State Mines, located in New York. This comes days after China increased export limits for rare earth minerals. Shares of Titan Mining soared 26.8% during afternoon trading. Titan has announced plans to increase production to 40,000 tonnes annually, which could provide about half the current U.S. demand for natural graphite. Titan's CEO Rita Adiani stated that "China's decision on graphite exports highlights the importance of a reliable domestic supply." She added that Titan would benefit from the move away from China. Graphite is essential for the...

Titan Mining announced on Tuesday that it would begin producing graphite at its Empire State Mines, located in New York. This comes just days after China increased export restrictions on rare earth minerals. The Canadian miner is targeting ramp-up to a 40,000-tonne-per-year commercial graphite facility, which the company said would be capable of supplying about half of current U.S. natural graphite demand. Titan CEO Rita Adiani said, "China's move to restrict graphite exports highlights the importance of having an adequate supply of natural graphite at home." China had already tightened its controls on rare earth exports. But last week, it...

Two sources have confirmed that blasting will begin on the Loulo underground mine of Barrick Mining in Mali, four months after a provisional court-appointed administration was given control. The Loulo-Gounkoto Gold Complex has been operating under a provisional administration since the beginning of the year, but only to the extent that it transports ore to the plant to be processed. One source said that the provisional administrators planned to resume mining operations in September but they delayed the date because of negotiations with subcontractors. Some of them had not been paid after Barrick suspended its operations in January. UNPAID BILLS...