LONDON/TORONTO Canada's exemption from U.S. tariffs on imports of aluminum metal has boosted earnings at the Canadian operations of companies such as Rio Tinto and Alcoa, but has not cut costs for U.S. consumers.
TORONTO/LONDON Barrick Gold Corp has struck a deal to buy out its fellow shareholders in Acacia Mining with a higher bid than originally proposed, raising expectations Acacia's long-running tax dispute with the Tanzanian government will finally be resolved.
July 10 Canada's Hudbay Minerals Inc
said on Wednesday that Chief Executive Officer Alan Hair has
stepped down after more than 20 years with the company and named
Peter Kukielski, who was backed by its second largest investor
in a proxy battle, as interim CEO.
Tanzania's largest gold miner Acacia Mining Plc said on Tuesday it is worth more than a buyout proposal by majority shareholder Barrick Gold Corp values it at, and extended the deadline for a firm bid to July 19.
TORONTO, July 4 The dip in corporate deals
activity in Canada in the first half of 2019 is likely to
continue into the third quarter as economic uncertainty creates
market volatility and asset valuations remain elevated,
according to bankers and lawyers.
Acacia Mining on Monday strongly disagreed with majority shareholder Barrick Gold Corp's valuation of the company, saying Barrick's proposal undervalued its life of mine plans and appears to have ignored the value of its exploration and development assets.
TORONTO, June 19 Barrick Gold Corp
said on Wednesday that comments by Chief
Executive Mark Bristow that he had no intention of discussing a
higher buyout offer for the company's African unit with its
minority shareholders should not be considered a "no-increase
Barrick Gold Corp, the world's No. 2 gold miner, believes its proposed offer to take full control of its African unit is "more than fair" and will engage with Acacia Mining Plc's board and minority shareholders to win them over, Chief Executive Mark Bristow told Reuters on Tuesday.
TORONTO/LONDON Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer.