Canada’s vow to curb foreign investment in its critical minerals sector will face its first major test with Saudi Arabia’s deal to buy into some of the country’s largest nickel mines.
Agnico-Eagle emerged as a top performer, reporting record quarterly gold production of 873,204 oz., thanks to its 100% ownership of the Canadian Malartic mine in Quebec.
Anglo reported a more than 40% fall in underlying earnings to $5.1bn, while Teck posted an even sharper drop in Q2 profit of over 50% to C$1.48 billion ($1.1bn).