Canada Top Stories

UPDATED: Paulson plans to replace Detour board, explore sale of company

Major is interested in acquiring Detour.

Lakes, rivers near abandoned mine sites likely source of antibiotics

Canadian researches came to such conclusion after spending years examining…

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Canada Lithium shares halted for a mineral resource estimate do-over

Canada Lithium said today it will have to take another look at a resource estimate it used to fund a Can$202-million open pit mine in Quebec. The company said that it was unable to reconcile its own results with a previously announced 43-101-compliant report dated Oct. 28, 2010. In January the company raised Can$110 million via a bought-deal financing.

Equinox Minerals to launch hostile bid for Lundin Mining

Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday. "Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time." The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.

Consolidated Thompson shareholders approve takeover by Cliffs

Consolidated Thompson's shares dropped two cents to close at $17.11 on Friday after the company announced its shareholders have approved the friendly takeover by Cliffs Natural Resources Inc. Under the deal, made public in mid-January, Cliffs Natural Resources acquired Consolidated Thompson for CDN$4.9 billion (US$4.6 billion) or C$17.27 in cash per common share. The transaction is expected to close in the second quarter.