Industry News

U.S. firm acquires Sudbury mining manufacturer By: Northern Ontario Business staffA major Sudburymining manufacturer has been sold to an international mining company from Milwaukee.Joy Global Inc. announced its acquisition of Mining Technologies International (MTI) for $51 million. MTI manufactures underground mining equipment for North American markets.MTI is “a world leading s...
Transition Metals cashes up for exploration By: Northern Ontario Business staffSudbury’s Transition Metals has closed a private placement financing of more than $2 million.The April 16 announcement comes days after earlier financing news of a $1.5-million investment by Royal Nickel Corp. into Transition Metal’s 65 per cent-owned subsidiary, Sudbury Platinum Corporation, to ad...
Osisko staves off Goldcorp takeover By: Northern Ontario Business staffMontreal’s Osisko Mining announced April 16 that it has reached an agreement with Yamana Gold and Agnico Eagle to jointly buy all Osisko's issued and outstanding common shares for $3.9-billion or $8.15 a share.Under the terms of the agreement, Yamana and Agnico Eagle would form a 50-50 joint-ventur...
Northern grads find mining work By: Northern Ontario Business staffRichmont Mines wants to snatch up graduates of Northern College’s underground hard rock miner common core program.Ten students were given job offers after they completed the on-site portion of their training at Richmont’s Island Gold Mine in Dubreuilville.Northern delivers its 12-week program throu...
Bearskin reduces airfaresBearskin Airlines is slashing airfares on its northeastern Ontario routes between  Kapuskasing, Timmins and Sudbury. By: Northern Ontario Business staffBearskin Airlines is slashing airfares on its northeastern Ontario routes between  Kapuskasing, Timmins and Sudbury.The Thunder Bay-based regional air carrier said, effectively immediately, regular fares between Kapuskasing and Timmins have been reduced an average of 56 per cent.Regular fares betwe...
First Nation participating in mine EA By: Northern Ontario Business staffThe Naotkamegwanning First Nation is receiving $45,000 from the Canadian Environmental Assessment Agency to participate in the environmental assessment of Treasury Metals’ proposed Goliath Gold Mine near Dryden in northwestern Ontario.Treasury Metals Limited is proposing the construction, operation...
Ontario’s underwhelming economic performanceakehead University economist Livio Di Matteo. By: Northern Ontario Business staffLakehead University economist Livio Di Matteo has co-authored a new study for the Fraser Institute that Ontario’s poor economic performance is dragging down Canada’s economy.The study, Can Canada Prosper without a Prosperous Ontario, examines Ontario’s decline from being a national economic engine ...
Feds extend funding for Algoma passenger railCN Rail will continue to operate the Algoma Central Rail line between Hearst and Sault Ste. Marie after the federal government extended its $2.2-million subsidy for one year. (FILE PHOTO) By: Lindsay KellyThe federal government is extending funding for one year so that CN Rail can continue operating the Algoma Central Rail (ACR) passenger line between Sault Ste. Marie and Hearst.Federal Transport Minister Lisa Raitt was in Sault Ste. Marie on April 14 to make the announcement.“Today, I’m pleas...



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