of activity in the oil pipeline industry as companies look for ways to move growing supplies from the oilsands to market. Earlier Wednesday, Enbridge Inc. (TSX:ENB) said it would pay US$1.15 billion for a half-stake in an existing pipeline from the Gulf

Macarthur Coal Ltd. has nearly doubled its full year profit and repeated its advice to shareholders to reject a takeover offer from U.S energy giant Peabody Energy Corp. and Luxembourg-based steelmaker ArcelorMittal. The company's 241 million Australian dollars ($253 million) profit for the fiscal year through June announced Wednesday was up 93 per cent from AU$125 million in the previous year despite reduced production due to record rainfall.

Commodities giant Glencore says it is buying a majority stake in Peru's Mina Justa copper mine for $475 million. Swiss-based Glencore International PLC said Monday the purchase of a 70 per cent stake in Marcobre SAC from CST Mining Group Limited is subject to inspection of the books and price adjustment.

Shore Gold announced on Friday the results of a feasibility study done on the Fort a la Corne site near Prince Albert. George Read, senior vice-president of exploration and development, says the results show that a world class diamond mine is feasible in central Saskatchewan.

The world's largest copper producer is shut down in a 24-hour strike that has the potential to cause severe losses for Chile's state mining company. Codelco says it could lose $41 million from today's strike