The deal, the biggest Canadian merger since CNOOC Ltd. bought Nexen Energy ULC in 2013, would create the world’s largest crop-nutrient supplier, worth about $36 billion.
Investors have seen a rise in the market capitalization of top junior mining companies on the TSX Venture Exchange by more than 100% compared to last year.
While met coal is clearly the star performer, thermal coal is probably the biggest upset – seaborne prices have jumped 65% in 2016 to above $80 a tonne.