Canada is heading towards a "staples trap," whereby the more quickly bitumen is exported, the less diversified and productive the economy becomes, warns a study.
South African police have arrested a former project director for Canadian rare earths-focussed Great Western Minerals Group’s (GWMG) on suspicion of fraud and money laundering.
The precious metal producer posted higher quarterly profit and revenue compared with a year ago and said it expects to see at least a 20% increase in output for 2013.
The gold miner logged a net loss of $68 million or $0.29 per share in Q4 2012, compared to net earnings of $79.4 million or $0.34 per common share for the same period in 2011.