It said that macro industry conditions, including a mild Northern winter, low natural gas prices, as well as trade and import policy uncertainties, were a challenging backdrop to start the year.

Moscow claims to a host of resources are based on shaky grounds at best, consultancy Verisk Maplecroft says.

Teck’s initial roadmap to carbon neutrality begins with first avoiding emissions, then eliminating or minimizing emissions.

The $20.6-billion oil sands project, 110 km north of Fort McMurray, Alta., is still pending approval from the federal government.