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TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren/File Phoo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - Canada's main stock exchange operator, TMX Group, is urging companies seeking to list on its platform to accelerate their plans, a top exchange official said, citing an uncertain economy and next year's U.S. presidential election as factors shrinking the window of opportunity. McPherson said TMX has advised companies seeking to list that the "window of opportunity" for initial public offerings, when it opens, might be a short window of three to six months rather than a year. "There is a pipeline out there that's waiting for the right time to enter the market," McPherson said. In Canada the central bank has raised key interest rate to 22-year high of 5% to fight stubborn inflation.

Persons: Chris Helgren, Dean McPherson, McPherson, TMX, Divya Rajagopal, David Gregorio Our Organizations: TMX Group, Toronto Stock Exchange, REUTERS, Rights, TMX, Mining, Reuters, U.S, TSX, Thomson Locations: Toronto , Ontario, Canada, Ukraine, Russia

View shows the site where the gigafactory for electric vehicle battery production by Volkswagen Group's battery company PowerCo SE will be built in St. Thomas, Ontario, Canada April 21, 2023. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsSept 12 (Reuters) - The Canadian government will take 20 years to recoup the combined C$28.2 billion ($21 billion) subsidies it is offering Volkswagen and Stellantis-LG Electric Solutions (STLAM.MI), to build two electric vehicle (EV) battery plants, the country's budgetary watchdog said on Tuesday. Parliamentary Budget Officer Yves Giroux projected that the combined revenue generated from the two plants would only match the production subsidies by 2043, if production starts in 2024. In May, Stellantis stopped constructing its EV battery plant in Windsor, Ontario, saying the Canadian government did not deliver on the committed subsidies. The dispute was resolved after two months of bargaining when the government agreed to provide subsidies similar to the one it gave Volkswagen.

Persons: Carlos Osorio, Yves Giroux, Justin Trudeau, Stellantis, Francois, Philippe Champagne, Urvi, Divya Rajagopal, Josie Kao Organizations: Volkswagen Group's, REUTERS, Canadian, Volkswagen, LG Electric Solutions, EV, LG Energy, Thomson Locations: St, Thomas , Ontario, Canada, Windsor , Ontario, Ontario, Bengaluru, Toronto

[1/2] Executive Producer Elliot Page poses during the presentation of "Backspot" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 8, 2023. REUTERS/Mark Blinch Acquire Licensing RightsTORONTO, Sept 10 (Reuters) - Canadian actor Elliot Page hopes that his role in the new film "Close to You" moves people and cracks open the hearts and minds of viewers as it did for him. The film, which in part parallels Page's life, is co-written by Page and Dominic Savage who also directed the film. Page, who received an Oscar nomination for his role in "Juno" (2007), was assigned as female at birth and came out as transgender in 2020. "So much of this movie is about connections, what it means to be human, and what it means to feel seen.

Persons: Elliot Page, Mark Blinch, Sam, Page, Dominic Savage, Savage, Hillary Baack, Katherine, Baack, Divya Rajagopal, Diane Craft Organizations: Toronto, Film, REUTERS, Rights, Toronto Film, Reuters, Thomson Locations: Toronto , Ontario, Canada

TORONTO, Sept 9 (Reuters) - American rapper and song writer Lil Nas X hopes his fans get to the "real me," behind the stage persona through his new documentary film, the musician told reporters at the 43 Toronto Film Festival on Saturday night. Nas X, whose given name is Montero Lamar Hill, is the first openly gay man to receive a Country Music Association award for his song "Old Town Road." The biographical documentary "Lil Nas X: Long Live Montero," directed by Carlos Lopez Estrada and Zac Manuel, follows the star on tour, capturing his relationship with his fans. The film also is an end of an era of his life and the beginning of a new one, he said. "This film is so immediate in the sense the state of mind where I am in... a bit confused."

Persons: Lil Nas X, Nas X, Montero Lamar Hill, Nas, Montero, Carlos Lopez Estrada, Zac Manuel, Estrada, Divya Rajagopal, William Mallard Organizations: Music, Reuters, Thomson

☆ Lil Nas X Says Documentary Captures End of an Era, Start of New One
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

By Divya Rajagopal and Nivedita BaluTORONTO (Reuters) - American rapper and song writer Lil Nas X hopes his fans get to the "real me," behind the stage persona through his new documentary film, the musician told reporters at the 43 Toronto Film Festival on Saturday night. Nas X, whose given name is Montero Lamar Hill, is the first openly gay man to receive a Country Music Association award for his song "Old Town Road." The biographical documentary "Lil Nas X: Long Live Montero," directed by Carlos Lopez Estrada and Zac Manuel, follows the star on tour, capturing his relationship with his fans. The film also is an end of an era of his life and the beginning of a new one, he said. "This film is so immediate in the sense the state of mind where I am in... a bit confused."

Persons: Divya Rajagopal, Nivedita Balu TORONTO, Lil Nas X, Nas X, Montero Lamar Hill, Nas, Montero, Carlos Lopez Estrada, Zac Manuel, Estrada, William Mallard Organizations: Music, Reuters

☆ Toronto film festival kicks off with Miyazaki's 'The Boy and the Heron', few stars
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Cast members Camila Morrone, Willem Dafoe and director Patricia Arquette attend the world premiere of "Gonzo Girl" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 7, 2023. REUTERS/Mark Blinch Acquire Licensing RightsTORONTO, Sept 7 (Reuters) - The Toronto International Film Festival opened on Thursday with "The Boy and the Heron" by famed Japanese director Hayao Miyazaki, the first time an animated feature has taken the coveted spot. Studio Ghibli executive Junichi Nishioka said it was an honour for "The Boy and the Heron" to have been chosen as the opener for the festival. The film, a semi-autobiographical story of a young boy struggling with the death of his mother, is expected to Miyazaki's swan song. "Gonzo Girl" stars Arquette, Camila Morrone and William Dafoe were among the few actors gaining union approval to promote their films.

Persons: Camila Morrone, Willem Dafoe, Patricia Arquette, Mark Blinch, Hayao Miyazaki, Craig Gillespie's, Lee, Kate Winslet, Taika, Kristin Scott Thomas, Junichi Nishioka, Arquette, William Dafoe, Morrone, Duncan Crabtree, Divya Rajagopal, Nivedita Balu, Jenna Zucker, Edwina Gibbs Organizations: Toronto, Film, REUTERS, Rights, Hollywood, Ghibli, Guild of America, Screen, American Federation of Television, Radio Artists, Reuters, SAG, Thomson Locations: Toronto , Ontario, Canada, United States, Ireland

☆ TIFF 2023: What to watch at the Toronto Film Festival
▼ + stars: | 2023-09-07 | by ( Jenna Zucker | ) www.reuters.com time to read: +3 min

The logo of the Toronto International Film Festival (TIFF) is seen in Toronto, Ontario, Canada September 10, 2021. REUTERS/Mark Blinch/File photo Acquire Licensing RightsTORONTO Sept 7 (Reuters) - The Toronto International Film Festival (TIFF) is back for its 48th edition, welcoming movies from around the world to premiere in Canada. The event comes right after the Venice Film Festival, where actor Adam Driver slammed the streaming sites for their lack of flexibility over the demands of writers and actors guild. Sean Penn and Dakota Johnson are expected at the festival to promote their film "Daddio." Last year, German film "All Quiet on the Western Front" premiered at TIFF and won four Oscars, including best international feature film.

Persons: Mark Blinch, Cameron Bailey, Adam Driver, Driver, Ferrari, Roy Thomson, Peter Street, Nickelback, Sean Penn, Dakota Johnson, Paul Dano, Seth Rogen, Shailene Woodley, Pete Davidson, Paul Giamatti, Hayao Miyazaki, Patricia Arquette's, Kristin Scott Thomas, Anna Kendrick's, Chris Pine's, Michael Keaton's, Knox, Lil Nas, Rustin, Pedro Almodovar, Jane Campion's, Campion, Jenna Zucker, Divya Rajagopal, Denny Thomas, Sandra Maler Organizations: Toronto, Film, REUTERS, Hollywood, Venice Film, Roy Thomson Hall, Royal Alexandra Theatre, Scotiabank Theatre, Wales Theatre, King, University, SAG, TIFF, Thomson Locations: Toronto , Ontario, Canada, Venice, Toronto's, Spanish

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday. Reuters GraphicsLiberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. "The Bank of Canada's decision to maintain its overnight interest rate is welcome relief for Canadians," Finance Minister Chrystia Freeland said in a statement.

Persons: Blair Gable, Doug Porter, Andrew Kelvin, Justin Trudeau's, Pierre Poilievre, Chrystia Freeland, Steve Scherer, David Ljunggren, Fergal Smith, Ismail Shakil, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, Wednesday, Governing, BoC, BMO Capital Markets, Canadian, Reuters, TD Securities, Reuters Graphics Liberal, Conservative, Finance, Thomson Locations: Ottawa , Ontario, Canada

[1/4] Vehicles leave Yellowknife on the only highway in or out of the city after a state of emergency was declared due to the proximity of a wildfire, in Yellowknife, Northwest Territories, Canada August 16, 2023. REUTERS/Pat Kane Acquire Licensing RightsAug 17 (Reuters) - Canadian fire crews battled early on Thursday to prevent wildfires from reaching the northern city of Yellowknife, where all 20,000 residents are leaving after an evacuation order was declared. Water bombers flew low over Yellowknife as thick smoke blanketed the capital of the vast and sparsely populated Northwest Territories. This is Canada's worst-ever wildfire season with more than 1,000 active fires burning across the country, including 265 in the Northwest Territories. The deadline for residents to leave Yellowknife is noon local time on Friday (1800 GMT).

Persons: Pat Kane, Justin Trudeau, Rebecca Alty, Alty, Mike Westwick, Diamond, De Beers, Lytton, Divya Rajagopal, Devika Syamnath, David Gregorio Our Organizations: Vehicles, REUTERS, Water, Territories, Canadian Broadcasting Corp, CBC, Thomson Locations: Yellowknife, Northwest Territories, Canada, Territories, Alberta, Hay, Fort McMurray, British Columbia, Toronto

☆ Canada wildfires: what are the causes and when will it end?
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +6 min

Here are some questions and answers about Canada's wildfires, which have charred millions of hectares and polluted the air in that nation and the U.S.WHAT PARTS OF CANADA HAVE WILDFIRES HIT? Wildfires are common in Canada's western provinces, but this year the eastern provinces of Nova Scotia, Quebec and parts of Ontario have also reeled from out-of-control wildfires. This week, the focus returned to the west, as wildfires burned about 16 km (10 miles) northwest of Yellowknife, the capital of the vast, sparsely populated Northwest Territories. As of Wednesday, there were 1,054 active wildfires in Canada, including 230 in the Northwest Territories and 669 deemed out of control, according to the Canadian Interagency Forest Fire Center. Widespread spring fires across the whole of Canada are also unusual, and research shows fire seasons across North America are getting longer.

Persons: Pat Kane, Mike Westwick, De Beers, Lytton, Fort Smith, Justin Trudeau, Ellen Whitman, David Ljunggren, Divya Rajagopal, Ismail Shakil, Rod Nickel, Jonathan Oatis, Josie Kao Organizations: REUTERS, Canadian Broadcasting Corporation, Canadian Interagency Forest Fire, Reuters Graphics, Northwest, Enterprise, Northwest Territories, Diamond, Atlantic Canada, Canadian, Canadian Forest Service, Thomson Locations: Yellowknife, Northwest Territories, Canada, U.S, Nova Scotia, Quebec, Ontario, Territories, British Columbia, Alberta, YELLOWKNIFE, Northwest, Hay, Fort McMurray, United States, Fort, Winnipeg, Ottawa, Toronto, East Coast, New York, Washington, Chicago, North America

Mark Bristow, CEO of Barrick Gold Co. REUTERS/Shelley Christians/File PhotoTORONTO, Aug 8 (Reuters) - Barrick Gold Corp (ABX.TO) is open to bringing in Saudi Arabia's wealth fund as one of its partners in Pakistan's Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. Barrick Gold owns a 50% stake in Pakistan's Reko Diq mine, with the remaining 50% owned by the governments of Pakistan and the province of Balochistan. He said that Barrick will support PIF coming into the mine through Pakistan's 25% equity stake. Barrick and Saudi's state-owned mining company Ma'aden jointly operate a copper project in Jeddah.

Persons: Mark Bristow, Shelley Christians, Barrick, Bristow, PIF, Divya Rajagopal, Mark Porter, Conor Humphries Organizations: Barrick Gold , Reuters, Mining, REUTERS, TORONTO, Barrick Gold Corp, Pakistan's, Barrick, Minerals, Barrick Gold, Saudi Arabia's Public Investment Fund, Ma'aden, Thomson Locations: Cape Town , South Africa, Saudi, Pakistan's, Pakistan, Balochistan, Saudi Arabia, Islamabad, Saudi's, Jeddah, PIF, VALE3

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

July 15 (Reuters) - Rare twin strikes by Hollywood actors and film and television writers are casting a pall over British Columbia's creative industry, which has become a hub for American film and TV production. Film production in British Columbia is down to "a trickle," said Gemma Martini, Chair of the Motion Picture Production Industry Association and CEO of Martini Film Studios. TAKING A TOLLReverberations that started on May 2 with the writers' strike grew in British Columbia, where most productions have American components. First the business was hit by the writers' strike: "Because no scripts are being written, people aren't coming to scout our locations." The Hollywood strike could affect the Toronto International Film Festival (TIFF), set to open in early September.

Persons: Gemma Martini, Synnove Godeseth, Godeseth, Martini, Oscar, Anna Mehler Paperny, Divya, Denny Thomas, Grant McCool Organizations: Hollywood, Industry Association, Martini Film Studios, Creative, Vancouver Economic, Toronto, Film, Thomson Locations: Canadian, Vancouver, North America, British Columbia, Los Angeles, British

OTTAWA, July 11 (Reuters) - Canada's corporate ethics watchdog on Tuesday launched separate investigations into Nike Canada (NKE.N) and Dynasty Gold (DYG.V) to probe allegations that they used or benefited from forced Uyghur labor in their supply chains and operations in China. Nike Canada and Dynasty Gold are alleged to have or have had supply chains or operations in China identified as using or benefiting from the use of Uyghur forced labor, the Ombudsperson said in the statement. In the last couple of years several large U.S. and Canadian multinational companies have been accused of using Uyghur forced labor either directly or in their supply chains. The initial assessment into Nike details supply relationships with Chinese companies identified as using or benefiting from the use of Uyghur forced labor. The complaint against Dynasty Gold is that it benefited from the use of Uyghur forced labor at a mine in China in which the company holds a majority interest.

Persons: Ombudsperson Sheri Meyerhoffer, Ismail Shakil, Divya Rajagopal, Chris Reese, Sandra Maler Organizations: OTTAWA, Nike Canada, Responsible Enterprise, CORE, Reuters, U.S . Securities, Exchange Commission, Nike, Thomson Locations: China, Xinjiang, Beijing, Canadian, Ottawa, Toronto

The Alberta Industrial Heartland, a not-for-profit organization consisting of five Alberta municipalities, and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) had announced their partnership in 2016 to encourage investments across North America. "This partnership no longer exists," Karlee Conway Director Communications of the Alberta Industrial Heartland said in an email response to Reuters. The lead investor of the fund was China's Export-Import Bank, Vancouver-based mining firm Hunter Dickinson and Swiss commodity trader Mercuria. While all three were released in 2021, the relationship between China and Canada has not returned to normal. The oil-rich province of Alberta exported C$4.5 billion worth of goods to China in 2020, making it the Canadian province's second-biggest export market.

Persons: Karlee, Hunter Dickinson, Lynette Ong, FROSTY, Meng Wanzhou, Divya Rajagopal, Xie Yu, Denny Thomas, Nick Zieminski Organizations: Reuters, The, The Alberta Industrial Heartland, China Global Resource Fund, Karlee Conway, Communications, Alberta Industrial Heartland, China's, Import Bank, MEC Advisory Ltd, EXIM Bank, Science, University of Toronto, CQ Energy, Ottawa, Huawei, Canadian, Exim Bank, Asian Infrastructure Investment Bank, Chinese Communist Party, Thomson Locations: TORONTO, HONG KONG, Alberta, The Alberta, Hong Kong, China, North America, Vancouver, Swiss, Canada, Ottawa, Calgary, Beijing, United States

TORONTO/HONG KONG, June 29 (Reuters) - The Alberta government has ended a partnership with a Chinese private equity fund that targeted $10 billion to invest in the natural resources sector, a spokesperson for the Alberta entity told Reuters. The Alberta Industrial Heartland, a not for profit organization of the province of Alberta, and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) had announced their partnership in 2016 to encourage investments across North America. "This partnership no longer exists," Karlee Conway Director Communications of the Alberta Industrial Heartland in an email response to Reuters. The lead investor of the fund was China's Export-Import Bank, Vancouver-based mining firm Hunter Dickinson and Swiss commodity trader Mercuria. This month, Canada froze ties with the China-led Asian Infrastructure Investment Bank (AIIB) as it launched a probe into allegations that the institution was dominated by the Chinese Communist Party.

Persons: Karlee, Hunter Dickinson, Meng Wanzhou, Divya Rajagopal, Xie Yu, Denny Thomas, Nick Zieminski Organizations: Reuters, The, The Alberta Industrial Heartland, China Global Resource Fund, Karlee Conway, Communications, Alberta Industrial Heartland, China's, Import Bank, MEC Advisory Ltd, EXIM Bank, CQ Energy, Ottawa, Huawei, Canadian, Exim Bank, Asian Infrastructure Investment Bank, Chinese Communist Party, Thomson Locations: TORONTO, HONG KONG, Alberta, The Alberta, Hong Kong, China, North America, Vancouver, Swiss, Canada, Calgary, Beijing, United States

☆ WestJet to shut down Sunwing Airlines
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: 1 min

June 17 (Reuters) - WestJet group is planning to wind down low-cost carrier Sunwing Airlines and integrate it into its main business, according to a memo seen by Reuters. The move is part of the integration process by WestJet which completed the acquisition of Sunwing airlines in May. Once the integration is complete, all Sunwing employees will continue to have employment with Westjet, said Len Corrado, President, Sunwing Airlines, in the internal memo sent to the employees. The news was first reported by Canadian Press in CBC. Our Standards: The Thomson Reuters Trust Principles.

Persons: Westjet, Len Corrado, Gokul, Divya Rajagopal, Allison Lampert Organizations: Sunwing Airlines, Reuters, Canadian Press, CBC, Thomson Locations: Bengaluru

OTTAWA, June 7 (Reuters) - The Bank of Canada on Wednesday hiked its overnight rate to a 22-year high of 4.75%, and markets and analysts immediately forecast yet another increase next month to ratchet down an overheating economy and stubbornly high inflation. Noting an uptick in inflation in April and the fact that three-month measures of core inflation remained high, the Bank of Canada (BoC) said that "concerns have increased that CPI inflation could get stuck materially above the 2% target." However, Canada Finance Minister Chrystia Freeland said the economic rebound from the COVID-19 pandemic and Russia's invasion of Ukraine has been stoking price increases. "To bring demand lower, which is the bank's goal to achieve their 2% inflation target, we just simply need more tightening." The BoC said it would continue to assess economic indicators going forward to see if they "are consistent with achieving the inflation target."

Persons: Derek Holt, Paul Beaudry, Canada's, Pierre Poilievre, Justin Trudeau, Chrystia Freeland, Andrew Kelvin, Steve Scherer, David Ljunggren, Fergal Smith, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, Canadian, Scotiabank, BoC, Conservative Party, Liberal, Canada Finance, TD Securities, Thomson Locations: British Columbia, Ukraine, Canada, Toronto

The Canadian pension funds have benchmarked their investments to that level, according to the presentation. Australian pension funds have invested about 50% of their total assets in domestic equities, according to the presentation. China Investment Corp is Teck's single-biggest institutional investor with a 10.3% stake, and Norway's wealth fund, Norges Bank, owns 1.52%, while Canadian pensions together hold 0.78% stake, according to Refinitiv data. All other pension funds did not respond to Reuters request for comments. Canadian pension funds represent 30% of the total financial savings of Canadians.

TORONTO, May 9 (Reuters) - Pierre Lassonde, a Canadian mining industry veteran, has made an offer to invest in Teck Resources Ltd's (TECKb.TO) coal business, in a bid to thwart Glencore Plc's (GLEN.L) hostile attempt to merge with Teck. Vancouver-based Teck has rebuffed Swiss mining company Glencore's $22.5 billon offer to combine the two companies and is instead pursing plans to separate its copper and coal business. Teck last month pulled its initial business separation plan at the last minute after failing to secure enough shareholder support. Glencore has offered a cash component for Teck's coal business worth C$8 billion ($5.98 billion). A source close to the matter said that an alternative offer for Teck's steelmaking coal business might push the Swiss conglomerate to finally make an improved offer.

Barrick has been building its copper business organically and said it is exploring copper drilling opportunities in countries such as Chile and Argentina. "We have always said that if you want to be relevant as a gold miner you have to be in copper business," Bristow added. Gold is often a byproduct of copper, a critical metal required for electrification and the transition to a greener economy. Teck last month withdrew its plan to split its coal and metals business after it failed to secure shareholders' approval. Bristow said Glencore's proposal made a "lot of sense" as Glencore could handle Teck's debt and had offered a clean split of Teck's business.

TORONTO, April 23 (Reuters) - A strike by about 155,000 Canadian federal government workers is closer to a resolution, with progress made on remote work and wage increases for Treasury Board employees, the union said on Sunday. The strike is scheduled to continue for now amid ongoing talks about a deal for revenue agency workers, the Public Service Alliance of Canada (PSAC) said in a statement. "At Treasury Board we made some headway on remote work language, and both sides have moved in order to get closer to a resolution on wage increases," said Chris Aylward, National President of PSAC. The talks with the government about wage increases for revenue agency workers, who oversee tax returns, have not made progress, he added. The revenue agency workers wanted a pay hike of 22.5% over three years, while the Treasury Board workers who oversee federal government administration were seeking a 13.5% pay rise over three years.

☆ Canadian dealmakers expect low-carbon shift will drive mining M&A
▼ + stars: | 2023-04-20 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

TORONTO, April 20 (Reuters) - Canadian advisors to mergers and acquisitions (M&A) expect a shift toward low-carbon technologies and government subsidies for them will spur dealmaking in mining for years to come and some are already gearing up for it. Clients are hiring mining people within dealmaking teams, and boutique M&A advisory firms are adding talent, mostly in mining, he said. Canada this year expanded an investment tax credit to equipment needed by mining companies - and any other companies in the EV supply chain - to extract or process critical minerals. For copper and nickel deals, it was the best quarter on record since at least 1990, the data showed. "Mining is one of those sectors where you really want to be prepared for the inevitable market pickup."

☆ Big copper deals to take centerstage in Santiago as demand heats up
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Lundin Mining Corp (LUN.TO) is paying nearly $1 billion for control of Chile's Caserones copper mine despite ongoing political uncertainty in the country. "The green transformation theme remains a strong tailwind for copper, the king of green metals," Saxo Bank strategist Ole Hansen told Reuters. Global copper demand expected to reach 53 million tonnes annually by 2053 - more than double current levels - but supply is still expected to fall short, according an S&P Global (SPGI.N) study. And Hudbay Minerals Inc (HBM.TO) last week said it would pay $439 million for rival Copper Mountain Mining Corp (CMMC.TO). Neighboring Peru, the world's second-largest copper producer, also expects to boost production this year.

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