Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TransCanada (TSX, NYSE:TRP), the company behind the controversial Keystone XL pipeline proposal blocked by the Obama administration, has shut down its pipeline in South Dakota indefinitely following the detection of a possible leak Saturday afternoon.
The Calgary-based firm said it is investigating the incident near its Freeman pump station, in a remote area of Hutchinson County, Reuters reports.
It is not clear how much oil was spilled, but clean-up is underway, the article adds.
TransCanada has advised affected shippers the line will remain closed until at least Friday.
The Keystone pipeline carries oil south from Canada through eastern North Dakota, South Dakota and Nebraska. The pipeline is not the same as the proposed Keystone XL project.
