Bank of Canada to Businesses: Get Used to the Turmoil
Economic uncertainty has become the new normal, and Canadian businesses need to accept that reality and start investing again, a senior Bank of Canada official said this week in an unusually direct message to the country’s corporate sector. Carolyn Rogers, the Bank of Canada’s second-highest-ranking official, told a Toronto business audience that waiting for stability […]
China Imposes Sweeping Export Control, 0.1% Rule On Global Rare Earths
China has announced sweeping export controls covering rare-earth technologies, super-hard materials, and high-energy battery inputs, adding an extraterritorial licensing trigger at the 0.1% value threshold for foreign-made items and cutoff for battery cells. The package comprises measures, including one that immediately restricts exports of rare-earth process know-how (ie. mining, smelting, magnet and recycling technologies and […]
Bessent Approves $20B Argentina Bailout Benefiting Hedge Fund Run by His Friend
Treasury Secretary Scott Bessent has committed $20 billion in US taxpayer funds to rescue Argentina’s failing economy after his longtime friend and former colleague, hedge fund billionaire Rob Citrone, lobbied him to intervene, according to reports by Popular Information based on Argentine media sources. Citrone’s Discovery Capital Management holds large positions in Argentine bonds and […]
Aura Minerals Reports Q3 Production Of 74,227 Equivalent ounces
Aura Minerals (NASDAQ: AUGO) this morning released preliminary third quarter production results, reporting 74,227 ounces of gold equivalent production. That production came from five operating mines, and represents an improvement of 16% over the second quarter. The quarter is also said to be a record high for the company, with nine month production now reaching […]
Silver Storm Secures US$7.0 Million Offtake Financing Agreement For La Parrilla Restart
Silver Storm Mining (TSXV: SVRS) has secured an offtake financing agreement that is expected to assist in the restart of their La Parrilla operations in Mexico. The offtake arrangement, entered into with two subsidiaries of Samsung C&T, is for 100% of the lead-silver and zinc concentrate produced at the the mine over a two year […]
Baytex Energy Weighs $3B Eagle Ford Exit
Baytex Energy (TSX: BTE) is weighing a sale of its US Eagle Ford operations for as much as $3 billion, a move that would reshape a portfolio where the basin currently drives the majority of 2025 production and more than half of planned spending. Baytex is working with advisers to gauge buyer interest for the […]
US Commerce Secretary Pressures Canada Over Alcohol Ban as Trade Tensions Escalate
US Commerce Secretary Howard Lutnick took an aggressive stance against Ontario’s retaliatory alcohol ban and Canada’s auto manufacturing sector during a closed-door discussion at a US-Canada summit this week, calling the province’s removal of American products from liquor shelves a “negative” that Canada needs to address. During his virtual remarks to the BMO and Eurasia […]
Argentina Rates Jump 80% As Treasury Sold Dollars Again
Argentina’s money-market rates jumped over 80%, as a cash crunch forced the Treasury to sell $1.3 billion of dollars in the past week to steady the peso, leaving roughly $1 billion in its own dollar deposits and pushing the crisis toward a pivotal stretch of repayments and elections. On Monday, the administration sold $450–$480 million […]
Carney Floats Keystone XL Revival In Trump Tariffs Talks
Canada linked energy cooperation to tariff relief as Prime Minister Mark Carney reportedly told President Donald Trump he wants to revive the Keystone XL pipeline, with Trump “receptive” and the proposal explicitly tied to easing 50% US duties on Canadian steel and aluminum. Following the Oval Office meeting, Trade Minister Dominic LeBlanc said both leaders […]
RBC CEO Urges Canada to Overcome Fear, Secure Trade Deals
Royal Bank of Canada CEO Dave McKay urged Canada on Wednesday to move quickly and secure trade deals with nations seeking its natural resources, warning the country must stop waiting for others to solve its economic challenges. McKay told a Calgary Chamber of Commerce luncheon that Germany, South Korea, and Japan want Canadian fossil fuels […]