Canada’s move to protect mining sector shields takeover targets
Teck Resources spent much of last year fending off Glencore’s $23 billion takeover attempt before the Swiss company opted instead to just buy the company’s steelmaking coal business.
Ivory Coast said a leak of a toxic substance from Endeavour Mining Plc’s operations in the southern part of the West African country sickened people and killed fish.
The London-based miner had said a valve ruptured on June 23, releasing 3,000 liters of mud containing cyanide into a canal within the perimeter of its Ity mine. The leak reached the Cavally River, the Ivorian Ministry of Environment said in a statement Wednesday.
“The source of the pollution has been brought under control by the mining company, which pledged to provide nearby communities with drinking water until the cleanup is complete,” it said. No human deaths have been reported so far, it said.
An Endeavour spokesperson declined to comment on the government’s update.
Endeavour, whose shares are traded in Toronto and London, where it’s the biggest listed miner, has all its assets in West Africa, with operations in Senegal, Ivory Coast and Burkina Faso.
(By Baudelaire Mieu)
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