|Day's Range||0.6500 - 0.6500|
(Bloomberg) -- Justin Trudeau returns to a fragmented parliament Monday facing sharp domestic divisions with the clock ticking on two of the tougher decisions of his political career.The prime minister must determine whether China’s Huawei Technologies Co. should be allowed to develop Canada’s fifth-generation wireless networks. He also needs to approve or reject a massive new oil project, even as he strives to reduce the nation’s greenhouse gas emissions. Getting sign-off on the new North American free trade agreement, which he’ll tackle right away, should be easy by comparison.Trudeau’s approval rating got a bump from his handling of the Jan. 8 jet crash in Iran that killed 57 Canadians. He’ll need that goodwill as he starts his second mandate in a much more precarious position than his first. Canada’s economy slowed sharply at the end of last year, so smoothing relations with commodity hungry China will be crucial. As will getting the nation’s energy sector back on its feet after a $30 billion exodus of foreign capital.With three potential dance partners in the legislature, there’s little chance Trudeau’s Liberals will fail to ratify the new Nafta. Sealing the deal will solidify Canada’s most important trading relationship, which was upended by the election of Donald Trump -- a disruption that’s reshaped how Canada deals with global challenges.“We’re living in a world without U.S. protection,” said Stephanie Carvin, a professor at Carleton University in Ottawa and former government intelligence analyst. “I’m not sure that we’ve prepared for that.”China’s WrathTrudeau’s mettle is being tested by a bitter feud with China over Huawei, whose chief financial officer is fighting extradition to the U.S. on accusations she tricked banks into violating Iran sanctions.Beijing bristled at Canada’s detention of Meng Wanzhou at the end of 2018 while on a layover in Vancouver. China swiftly locked up two Canadians it accuses of spying and halted nearly C$5 billion ($3.8 billion) worth of agricultural imports, plunging Sino-Canadian relations into their darkest period in half a century.Trudeau, who has sought Trump’s help in the dispute to no avail, poured cold water on suggestions he halt Meng’s extradition as part of a prisoner exchange for the Canadians. “We are a country of the rule of law and we will abide by the rule of law,” the prime minister told reporters in Winnipeg, Manitoba.China is also lobbying hard for Canada to allow Huawei access to 5G. Trudeau’s new public safety minister didn’t offer any hints on the timing of a decision at last week’s cabinet retreat, but Bill Blair now says “there are a number of other significant economic and even geopolitical considerations being considered” alongside security issues.The government may be waiting to see what its allies do. While the White House is pushing for an outright ban, Boris Johnson’s government is weighing a mixed strategy that would keep the state-championed Chinese firm out of sensitive core elements of U.K. networks. “If Britain chooses to go with the regulatory approach, it will make it easier for Canada to do so,” Carvin said.Having campaigned last fall on lowering mobile-phone bills in Canada, it’ll be hard for Trudeau to order companies like BCE Inc. and Telus Corp. to rip out millions of dollars worth of existing Huawei equipment, she added.While dealing with China will occupy the bulk of Canada’s foreign policy agenda, it’s also been playing an activist role in Venezuela’s political crisis. Trudeau will host Juan Guaido in Ottawa Monday as the opposition leader tries to rekindle international support for his push to oust President Nicolas Maduro.Western WoesDomestically, the prime minister needs to reassure voters on Canada’s prairies that he hasn’t abandoned them. Key to that will be deciding on the C$20 billion Frontier oil-sands mine proposed by Teck Resources Ltd. in northern Alberta.In his first mandate, Trudeau introduced a nationwide carbon tax and overhauled the regulatory process for major energy projects. Those moves won plaudits from environmentalists but met stiff opposition from provincial premiers. During the campaign, Trudeau doubled down and committed Canada to net-zero emissions by 2050.October’s vote saw the Liberals fail to elect a single lawmaker in Alberta or Saskatchewan. “The mood has only gotten uglier and more hopeless in those western provinces,” said Shachi Kurl, executive director of the Angus Reid Institute polling firm.A Brexit-inspired separatist movement has even sprung up. While few think it could ever succeed, Trudeau overhauled his front bench to address western alienation -- promoting Chrystia Freeland to deputy prime minister with a mandate to mend federal-provincial fences.As much as Trudeau is trying to position Canada as a global leader on climate change, he also nationalized a pipeline, buying the Trans Mountain line from Kinder Morgan Inc. in 2018 for C$4.5 billion. A controversial expansion of the conduit cleared a major legal hurdle at Canada’s top court this month and construction is set to pick up this year.Increasing the flow of oil out of Alberta would be a vital boost for struggling producers, who are again facing a steep discount for their heavy crude. Teck’s mine got a tentative green light in July. The Liberals have to make a final call by the end of February, but approval from the company isn’t guaranteed given the project was conceived in a different price environment.“Politically, this is being put forward as the Trudeau government making a decision about whether or not 7,000 people are going to have jobs in Alberta” instantly, said Andrew Leach, an economist at the University of Alberta in Edmonton. “Teck has not said anything of the sort.”In confronting his domestic challenges, Trudeau might find himself seeking support from an unlikely place: the official opposition bench.“The Conservatives are obvious allies in getting Nafta through,” said Brian Topp, a former adviser to New Democratic Party leaders. “They’re also obvious allies to the government as it thinks about how to respond to the commodities crash on the prairies.”\--With assistance from Natalie Obiko Pearson and Kevin Orland.To contact the reporter on this story: Stephen Wicary in Ottawa at email@example.comTo contact the editors responsible for this story: Theophilos Argitis at firstname.lastname@example.org, Chris FournierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Today we'll evaluate Teck Resources Limited (TSE:TECK.B) to determine whether it could have potential as an investment...
VANCOUVER, British Columbia, Jan. 24, 2020 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) President and Chief Executive Officer, Don Lindsay will be.
A proposed Canadian oil sands mine has split the country's indigenous people, compounding the challenges facing Prime Minister Justin Trudeau's government as it decides whether to approve the project. Teck Resources Ltd would build the C$20.6 billion ($15.76 billion) Frontier mine 110 kilometers (68 miles) north of Fort McMurray, Alberta, capable of eventually producing 260,000 barrels of crude oil per day. The mine, which would be one of the largest in Alberta's oil sands, requires federal approval, even as the Trudeau government has promised to reduce Canada's greenhouse gas emissions to net zero by 2050.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has been named to the 2020 Bloomberg Gender-Equality Index (GEI) for the third straight year. “Gender equality is a critical part of our commitment to inclusion and diversity, and contributes to a stronger workforce and a better company,” said Don Lindsay, President and CEO.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has been recognized as one of the 2020 Global 100 Most Sustainable Corporations by Corporate Knights. Teck was the top-ranked company in the Metal Ore Mining category and the only mining company included on the list. “At Teck, being socially and environmentally responsible is foundational to our success and an important part of who we are as a company,” said Don Lindsay, President and CEO.
Teck Resources' (TECK) latest acquisition aligns with its approach to work with shareholders, in order to develop post-mining land uses ranging from wildlife habitat to economic diversification.
VANCOUVER, British Columbia, Jan. 15, 2020 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) announced today it has purchased the SunMine solar energy facility.
VANCOUVER, British Columbia, Jan. 14, 2020 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) will release its fourth quarter 2019 earnings results on.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) announced today an expanded commercial agreement with Ridley Terminals Inc. (RTI) for shipments of steelmaking coal from Teck’s British Columbia operations. The agreement runs from January 2021 to December 2027, and increases contracted capacity from 3 million tonnes per annum (Mtpa) to 6 Mtpa with an option for Teck to extend up to 9 Mtpa. This will enable Teck to increase its shipment volumes through the Ridley terminal to provide greater flexibility and improved performance within its overall steelmaking coal supply chain.
Many investors, including Paul Tudor Jones or Stan Druckenmiller, have been saying before last year's Q4 market crash that the stock market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the […]
VANCOUVER, British Columbia, Dec. 05, 2019 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today that the Teck Carmen de Andacollo Workers.
On CNBC's "Fast Money Halftime Report," Jon Najarian said traders were aggressively buying the December $15.50 calls in Teck Resources Ltd (NYSE: TECK ) on Wednesday. They picked the $15.50 strike, ...
Vancouver-headquartered Teck Resources (NYSE: TECK) will start usingCanadian National (NYSE: CNI) to haul its coal to West Coast ports in 2021. Canadian National's (CN) competitor, Canadian Pacific (NYSE: CP), currently has a 10-year contract with Teck to transport metallurgical coal from Teck's four mining operations in British Columbia to the West Coast ports.
Under the terms of deal, CNR will ship steelmaking coal from four of Teck's operations in the province, between Kamloops and Neptune terminals, and other west coast ports. CNR, the country's largest railroad said it would also invest more than C$125 million ($93.98 million) to improve rail infrastructure and support increased shipment volumes to the Neptune facility. "This agreement and the associated infrastructure investment will provide us with rail capacity to match the major upgrades underway now at Neptune Terminals," said Don Lindsay, president and chief executive officer of Teck Resources.
CN (CNR.TO) (CNI) and Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) announced today a long-term rail agreement for shipping of steelmaking coal from Teck’s four B.C. operations between Kamloops and Neptune Terminals, and other west coast ports. The agreement runs from April 2021 to December 2026, and will enable Teck to significantly increase shipment volumes through an expanded Neptune Terminals. The agreement also provides for investments by CN of more than $125 million to enhance rail infrastructure and support increased shipment volumes to Neptune.
Moody's Investors Service (Moody's) has affirmed the ratings of AES Gener S.A. (Gener), including its Baa3 senior unsecured and Ba2 junior subordinate ratings, as well as the Baa3 senior secured rating of Empresa Electrica Angamos S.A. (Angamos). The offtakers include Minera Escondida Limitada (340 MW; MEL; Baa2 stable), Minera Spence S.A. (Spence; 90MW; unrated), two subsidiaries of BHP Group Limited (A2 stable).
VANCOUVER, British Columbia, Nov. 26, 2019 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) President and Chief Executive Officer, Don Lindsay will be.
VANCOUVER, British Columbia, Nov. 22, 2019 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck”) has been named for the third consecutive year as one of.
Canada's Teck Resources Ltd has hired Barclays to sell all of its 80% stake in its Zafranal copper asset in Peru, as the diversified miner accelerates efforts to exit advanced projects and focus on its massive Chilean expansion, two banking sources told Reuters on Wednesday. Teck is likely to sell or seek a partner for Zafranal, Chief Executive Officer Don Lindsay has said. The company and its advisors are sounding out interest from mining firms already operating in Peru for the copper-gold project that could fetch up to $500 million, one of the sources said.
Teck is likely to sell or seek a partner for Zafranal, Chief Executive Officer Don Lindsay has said. The company and its advisors are sounding out interest from mining firms already operating in Peru for the copper-gold project that could fetch up to $500 million, one of the sources said. A Barclays representative was not immediately available for comment.
VANCOUVER, British Columbia, Nov. 13, 2019 -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today that it will pay an eligible dividend of.