Mining
Energold named international award finalist
HSBC Bank Canada has named Vancouver's Energold Drilling Corp. a finalist in its Business without Borders international business awards, in the leadership in international trade with Latin America category.
"This Vancouver-based company provides environmentally sensitive drilling services to the mining industry, employing indigenous populations in exploration jobs," HSBC said. "Thanks to specially designed, highly portable drills, Energold can drill exploration holes with a fraction of the environment disturbance of more traditional drilling companies."
Forestry
Prince Rupert port gives green light to new terminal
The Prince Rupert Port Authority has approved Pinnacle Renewable Energy's plan for a $42 million marine terminal to ship wood pellets abroad.
Pinnacle's Westview Terminal Redevelopment project has cleared an environmental review for the new terminal, which will have a capacity to move up to two million tonnes of wood pellets annually.
"There's still a couple of small items to be ticked off, but this was the major condition precedent to being able to move ahead," Pinnacle COO Leroy Reitsma said, calling the terminal "a big step" for the company.
Mining
Turquoise Hill ends sale of SouthGobi shares
Turquoise Hill Resources (TSX:TRQ), formerly Ivanhoe Mines, announced the termination of its lock-up agreement with Aluminum Corporation of China Ltd. (Chalco) whereby Turquoise Hill was to sell up to 60% of its shares in SouthGobi Resources Ltd. (TSX:SGQ), a deal valued at around $889 million.
Turquoise Hill said the companies concluded that the transaction had minimal prospect of obtaining the necessary regulatory approvals.
On April 17, the Mongolian government moved to suspend SouthGobi's mining activity in the country.
Pipelines
Former AG named B.C. legal strategist
B.C. has appointed former attorney-general Geoff Plant to serve as chief legal strategist for the government as cross-examination begins on Enbridge's Northern Gateway pipeline.
Plant was B.C.'s attorney general and minister responsible for treaty negotiations from 2001 to 2005.
Questioning in Edmonton will focus on the financial liability of Enbridge and its partners for spill response and restoration as well as details regarding liability insurance and plans for full environmental restoration in the event of a spill.
Mining
Selwyn suspends strategic review of sale opportunities
Vancouver-based Selwyn Resources Ltd. (TSX-V:SWN) has suspended a strategic review focused on finding a buyer for the company.
Board chairman Wade Newsmith said the company announced the review April 17, due to the company's limited ability to finance the Selwyn zinc-lead project through to completion.
"We have been conducting this process in some of the worst economic times in recent memory and the process has so far failed to identify a transaction acceptable to the board," he said.
