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.
A former Air Canada manager wanted on a national warrant for his alleged role in the largest gold heist in Canadian history is preparing to turn himself in according to his lawyer, CBC News reported Friday.
Simran Preet Panesar is wanted on charges including theft over C$5,000 in connection with the April 2023 theft of more than C$20 million in gold from Toronto’s Pearson International Airport, according to the CBC.
Several arrests were made in April and 19 charges laid in what police called a “daring theft, the single-largest gold heist in Canadian history.”
RCMP investigated the heist last April at the country’s busiest airport that may have netted thieves more than C$20 million in gold taken from a cargo holding area at Pearson.
Swiss bank Raiffeisen Schweiz Genossenschaft and precious metals refining company Valcambi SA had hired Brink’s to move the goods from Zurich to Toronto. Brink’s, in turn, arranged for Air Canada to fly the valuables between the two cities.
In the wake of the brazen theft, Brink’s Co. sued Air Canada for allegedly letting a thief slip away with the loot.
Almost none of the gold has been recovered, though police did seize about C$430,000 in Canadian currency and six gold bracelets worth about C$89,000.
