With few options left to salvage investments hit by a prolonged downturn in commodity prices, more shareholders are demanding change at miners they perceive to have strong assets but weak boards and management.
Canadian stocks were little changed in choppy trade on Thursday as gold mining gains offset a slew of weak data from Europe, China and the United States, which added to fears about global growth.
Workers at BHP Billiton's (BHP.AX: Quote) seven Bowen Basin coal mines in Australia will go on strike beginning Tuesday night following unproductive negotiations over work conditions with the company, the workers' union said.
Canadian stocks were poised to open higher on Monday, taking their cue from Wall Street, as commodity prices rose after Federal Reserve Chairman Ben Bernanke on Friday left the door open for further action to stimulate the U.S. economy.
Gold priced in Canadian dollars hit a record C$1,686.00 an ounce on Monday as a shock downgrade of the U.S. credit rating late on Friday sparked a rush among investors into assets seen as lower risk, and as euro zone debt concerns simmered.
