Military Metals acquires past-producing antimony project in Nevada
The Last Chance property is situated in Nye county, Nevada, approximately 18 km due west of the Round Mountain gold mine operated by Kinross Gold.
Pembina Pipeline Corporation (TSX:PPL) is set to acquire the former owner of the Trans Mountain pipeline in a deal pegged at $4.35 billion.
Calgary-based Pembina announced Wednesday (August 21) plans to buy Kinder Morgan Canada Ltd. (TSX:KML) and the U.S. portion of the Cochin pipeline, which runs 2,900 kilometres from Fort Saskatchewan to Chicago.
The American portion of the pipeline is owned by Kinder Morgan Inc., a separate entity from Kinder Morgan Canada.
The transaction values Kinder Morgan Canada at $2.3 billion, or $15.02 per share, while the American Cochin assets are valued at $2.05 billion for cash consideration.
“This acquisition is highly strategic for Pembina, providing enhanced integration with our existing franchise, entrance into exciting new businesses and clear visibility to creating long-term value for our shareholders,” said Pembina president and CEO Mick Dilger said in a statement.
The deal also includes Vancouver Wharves, a 51-hectare bulk marine terminal facility transferring more than 4 million tonnes of bulk cargo annually.
Pembina said it has already identified a number of expansion possibilities for Vancouver Wharves.
The pending sale comes about a year after Ottawa closed a deal to acquire the controversial Trans Mountain pipeline from Kinder Morgan Canada for $4.5 billion.
Since then, Kinder Morgan Canada has been dipping its toes on the market but found no takers until this deal.
(This article first appeared in Business in Vancouver)
