Resources & Agriculture

Pine beetle devastation leaves companies with wood shortfall

After Vancouver-based mid-tier gold producer B2Gold Corp. (TSX:BTO) raised US$259 million in debt financing last summer, mining analysts and investors questioned whether the company was eyeing a large-scale purchase.

Ultra Lithium Inc. (ULI) (TSX-V:ULI) signed a non-binding letter of intent October 28 for a joint venture with China-based CCG Mining Inc. for a joint venture to explore and develop ULI's South Big Smoky Valley claims in Nevada.

Teck Resources Ltd. (TSX:TCK) announced third quarter profits of $252 million ($0.44 per share) October 24 – a 40% drop compared with Q3 2012’s profits of $425 million ($0.73 per share).

Total global budget for nonferrous metals exploration dropped to $15.2 billion in 2013 from $21.5 billion in 2012, a 29% decrease likely to remain the same until the end of the year, according to preliminary results from SNL Metals Economics Group’s latest report.

West Fraser Timber will close its Houston, British Columbia sawmill in 2014 in an attempt to deal with the effect of the mountain pine beetle epidemic, the company announced today.

Vancouver-based gold mining giant Goldcorp (TSX:G) had a tough third quarter.

The gold price jumped more than $20 or 1.8% an ounce on Tuesday to a three-week high above $1,340 after disappointing U.S. economic data.

Provincial associations governing geoscience professionals in British Columbia and Ontario respectively have signed a labour agreement allowing its members to perform short-term work in the other province without a licence.

Endurance Wind Power plans to increase its production plant staff to more than 100 employees over the next 12 months