While 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion in the global mining sector, 2012 is not looking so good, at least not for Canada. The value of mining M&A tumbled 50% in the first quarter compared to the prior three months, with only one deal over $1 billion, said KPMG in a report.
Canadian Oil Sands companies are asking the government to upgrade the section of Highway 63 north of Fort McMurray, in the province of Alberta, which leads to several oil sands projects.
Canadian miner Baja Mining Corp (TSX:BAJ) said on Monday it won’t be able to continue with its copper/cobalt/zinc project in Mexico beyond mid-June, unless it finds a way to fund cost overruns quickly.
Canada's Leader of the Opposition, Thomas Mulcair, again attacked the oil sands industry by saying that, because of the way it raises the value of the Canadian dollar, other parts of the country are paying a price for the prosperity enjoyed by natural resource sectors, such as the oil sands in Alberta.
Vancouver's First Point Minerals served notice of arbitration on Cliffs on Saturday because the iron and coal giant refuses to hand over crucial information about the tiny explorer's Decar project, set to become the world's first commercial nickel-iron alloy mine, effectively naturally-occurring 'stainless steel'. BlackRock, an asset manager with more than $3 trillion in assets picked up a stake in First Point two months ago.