The Lewis project would be located about 25 km northeast of Fort McMurray and could eventually produce up to 160,000 barrels a day.
Corporate Mergers & Acquisitions Mining News
Pipeline shipments would restart at approximately 50% of capacity in early May.
Suncor Energy, the largest partner in Syncrude, said it expects to meet its 2017 production targets despite a fire that shut down the Mildred Lake upgrader almost two weeks ago.
While the number of deals made last year increased by a third, it's the low value of the M&A that stands out in EY's latest report.
Both provinces displaced Western Australia from the first to the third place thanks partly to their rich mineral reserves, competitive tax regimes, efficient permitting procedures, and certainty surrounding environmental regulations.
Company said the decision to place its the Stawell gold mine into care and maintenance was based on dwindling production at the operation.
The Johannesburg-based company, however, said it remained interested in a negotiated transaction.
Offer came on the heels of Kirkland Lake's move to buy fellow bullion miner Newmarket Gold (TSX:NMI) in an all-stock deal worth about Cdn$1 billion ($764 million).
The combined company, to be known as Kirkland Lake Gold, will have a market capitalization of about Cdn$2.4 billion and produce more than 500,000 ounces of the yellow metal a year.
Canada slipped in the Fraser Institute’s global ranking, while Chile remains the most attractive jurisdiction in Latin America.
The Canadian oil giant lowered capital spending plan to between $6bn and $6.5bn from a November estimate of $6.7bn to $7.3bn.
After months of hostile rhetoric, the two Calgary-based companies have reached a takeover agreement.
The company is asking Suncor to disclose details of how shareholders reacted to its bid before last week’s deadline had to be extended until Jan. 27.
The takeover bid expires on Friday.
“Hope is still not a strategy,” Suncor wrote in a letter to Canadian Oil Sands’ shareholders, stressing there was “little time” left.
The company, currently the target of a $4.3 billion takeover bid by Suncor, unveiled a pared-back capital budget that cuts spending by 20% year-over-year to $295 million in 2016.
The poison pill provision must expire by Monday, Jan. 4, 2016.
Canada's dominant oil sands player, however, plans to spend about $900 million more next year.
The Legacy mine, located approximately 50km north of the city of Moose Jaw, will be the first new potash operation built in the last 40 years in Saskatchewan.
Suncor, Canada's dominant oil sands player, telling COS shareholders the firm has a record of “underperformance, financial challenges,” and vulnerability to low oil prices.
Suncor steeped up its hostile Cdn$4.3bn bid for COS by asking the Alberta Securities Commission to strike down the target’s rights plan to prevent a takeover.
The company said Suncor Energy’s hostile takeover offer was "undervalued, opportunistic and exploitive."
Consolidation is set to sweep Australia's struggling coal sector over the next six to 12 months, as diversified majors lose patience with depressed coal prices and companies choose M&A instead of navigating a political and environmental minefield to develop new projects.
The agreement with Kansas-based Koch Fertilizer comes as the European firm attempts to fend off a takeover bid from Potash Corp.
The latest offer was unchanged in its value, but included a more formal “business combination agreement,” K+S said