Canadian miner Teck Resources Ltd on Friday floated a potential exit from the oi...
) on Friday floated a potential exit from the oil sands and warned of a possible C$1.13 billion hit should Prime Minister Justin Trudeau’s government reject its Frontier bitumen mine.
At full capacity, the mine would produce 260,000 barrels of crude oil per day, making it one of the largest in Alberta’s carbon-intensive oil sands. The miner said it booked non-cash impairment charges of C$999 million in quarter ended Dec. 31, including C$910 million tied to the Fort Hills operation in which it has a 21.3% stake.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada pipeline project brings paralyzing rail blockades and protestsPrime Minister Justin Trudeau calls the Coastal GasLink pipeline project controversy 'a critical moment' for Canada.
Read more »
US government projects China will fall short on agriculture purchases in trade deal - Business InsiderThe federal government is projecting China will buy $14 billion of US farm goods, falling far short of an ambitious goal of the Phase One trade deal.
Read more »
Mexican government to resume search for miners killed in 2006 blastThe Mexican government will resume a search for the bodies of dozens of coal min...
Read more »
Singapore has the financial buffer to help the economy if virus outbreak drags on, minister saysThe Singapore government has set aside 5.6 billion Singapore dollars ($4.02 billion) to help businesses, workers and households weather the economic hit from the spread of the new coronavirus called COVID-19.
Read more »
Trudeau’s next political crisis: rail blockadesWhat started as a protest against a pipeline in northern British Columbia has turned into a test of PM Justin Trudeau’s ability to govern an increasingly divided nation and his willingness to act during a crisis
Read more »
US government fines Wells Fargo $3 billion for its 'staggering' fake-accounts scandalWells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years.
Read more »