The pipeline Canada doesn’t know

Canadian Kinross Gold Corp. (TSX:K, NYSE:KGC) said on Wednesday that workers at its Tasiast gold mine in Mauritania, West Africa, have initiated an unlawful work stoppage, halting mining and processing activity.

Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.

Canadian Barrick Gold (TSX:ABX) announced Wednesday a major shakeup of its management team, saying that it has replaced Aaron Regent as president and chief executive officer by Jamie Sokalsky, who was the company's chief financial officer.

Other bids for ConocoPhilips' oil sands assets expected as foreign money continues to pour into Alberta's oil patch.

Earth-moving equipment maker Caterpillar (NYSE:CAT) will work with Canadian Westport Innovations (TSX:WPT) to develop natural gas-powered engines for mining trucks, locomotives and other heavy equipment that typically uses diesel.

Canada topped the global mining and metals sector as the number one target destination by total deal value in the first three months of this year, says international firm Ernst & Young.

The massive developments in mining and oil and gas in Canada have also pulled along a thriving manufacturing sector, according to a study by Conference Board of Canada and the Business Development Bank of Canada.

After making a deal to combine with privately-held Absolute Gold last May, GoGold Resources (CVE:GGD) has now filed a NI 43-101 showing the mineral interests it acquired from Absolute are a resource containing 37.1 million ounces of silver equivalent and 741,000 ounces gold equivalent.

A $40 discount to the global oil price, competition from Bakken shale oil, rising labour costs, pipeline problems and overproduction put in jeopardy billions of dollars of oil sands projects.