Ottawa awards $3.25B contract to Quebec-based Davie shipyard to build new polar icebreaker
The federal government has handed a $3.25 billion contract to the Davie Shipyard in Lévis, Que. to build a new polar icebreaker by 2030.
"This polar icebreaker will be among the largest and most complex ever built on the planet," said Public Services and Procurement Minister Jean-Yves Duclos at a news conference in Lévis on Saturday morning.
An icebreaker is a vessel designed to navigate and cut through thick ice that obstructs frozen waters.
Another polar icebreaker will be built simultaneously at Seaspan's Vancouver Shipyards. Duclos explained that the Canadian Coast Guard will be able to use the two ships in emergency situations in Canada's Arctic to conduct year-round missions to support northern communities and scientific research, and to ensure the country's Arctic sovereignty.
"This will give Canada access to the Arctic and the High Arctic at all times and in all circumstances for the first time in the country's history," said Duclos.
"This is particularly relevant in the present context, where Canadian sovereignty is threatened by growing global tensions."
The construction of the PolarMax is expected to create 3,250 "direct and indirect jobs" per year between 2025 and 2030 and to add $440 million to Canada's GDP annually, according to Duclos.
More than 70 per cent of the work will be done in the province and the rest of Canada. Canadian workers will also work with their Finnish counterparts to build part of the icebreaker in Finland.
Quebec Premier François Legault told reporters this job creation comes at a "good time."
"With Mr. Trump, there's a significant risk that jobs will be lost in the manufacturing sector as a result of the tariffs that will be put in place and the reduction of our exports to the United States," said Legault.
Duclos noted that the PolarMax will withstand impacts and extreme vibrations in very cold temperatures and through ice up to three metres thick for a minimum lifespan of 40 years.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
an hour ago
- Toronto Star
Canada Post, union trade shots Monday as progress stalls
After talks last week aimed at paving the way for binding arbitration, Canada Post and the union representing its 55,000 employees were back trading public potshots Monday, with both sides accusing the other of not negotiating seriously. Monday afternoon, the Canadian Union of Postal Workers (CUPW) blasted the Crown corporation, saying it was counting on government action to force an end to the dispute. 'CUPW's ultimate goal in returning to the bargaining table remains new negotiated ratifiable collective agreements,' CUPW said in a written statement. 'However, Canada Post's actions suggest it does not want to negotiate. It wants to rewrite our agreements — and is seeking to use government interference to further its goals.' The union pointed to Canada Post's request to federal jobs minister Patty Hajdu late last month to order a vote on its 'final' contract offer, as well as then-federal labour minister Steven MacKinnon's decision last December to 'pause' a 32-day strike by creating an Industrial Inquiry Commission run by veteran arbitrator William Kaplan. 'The historic rights and benefits our union has gained for our members — and for Canadian society — such as maternity leave have been won through our collective bargaining rights,' CUPW added. 'The attempt to trample over them should send a chill through the labour movement. CUPW will be standing against a forced vote — and for collective bargaining rights.' In a written statement Monday, Canada Post said two days of talks last week to set the terms for arbitration didn't result in any progress. The Crown corporation also said the union still hadn't provided an official response to its final offer. It also suggested Kaplan's report should be part of the terms of reference for any arbitration. 'The final report of the Industrial Inquiry Commission clearly outlines the critical issues we face and the immediate actions that need to be taken. It should therefore be the foundational document that guides any discussions about Canada Post's path forward. The union's refusal to recognize the IIC report and its recommendations in their proposed terms of reference for arbitration is unacceptable,' Canada Post said. 'After 18 months we urgently need a fair resolution that begins to address our challenges while respecting the important role our employees play, and the voice they have in our future.' A spokesperson for Hajdu said the minister was still reviewing Canada Post's request for a vote on the 'final offer,' and urged the two sides to get back to the bargaining table. 'Last week Minister Hajdu asked the parties to return to the negotiating table with federal mediators to do two things: to seek to negotiate terms for an arbitration process to conclude this round of bargaining, and to have the union table its response to Canada Post's last global offers,' said Hajdu spokesperson Jennifer Kozelj. 'Canadians expect the parties to resolve this dispute. Both parties must meet and pursue these paths with urgency.' Labour experts say it's unclear exactly how the impasse can be resolved. Both sides, suggested University of Toronto professor Rafael Gomez, could be waiting for clearer signals from the federal government on whether it will act on Kaplan's recommendations. 'If the government hems and haws, then of course the parties aren't going to negotiate strongly,' said Gomez, director of U of T's Centre for Industrial Relations and Human Resources. 'If they said 'here's what we're doing about the report. We're implementing everything Kaplan has said,' that would move the needle.' While a full-blown strike might be another option for the union to try and force the issue, it's not clear if it would work, argued Stephanie Ross, a labour studies professor at McMaster University. The union doesn't have nearly as much leverage as it did last winter, Ross said, because it's not nearly as busy a time of year for parcels, but also because Kaplan's report was largely in line with the Crown corporation's arguments for restructuring. 'It's not clear how much pressure a walkout is going to put on the employer right now,' Ross said. Earlier this month, Canada Post rejected the union's request for binding arbitration, saying it would take too long, and could exacerbate their financial struggles. On May 28, Canada Post made what it called its 'final' contract offer, which includes a 13 per cent wage increase spread over four years, as well as a $1,000 signing bonus. Two days later, it asked Hajdu to order a vote on the offer, a request blasted by CUPW.
The Province
an hour ago
- The Province
Canada's shooting at a moving target on defence spending, say military watchers
'Two per cent is not going to cut it in terms of where the rest of the (NATO) alliance is,' said David Perry, a defence analyst who heads the Canadian Global Affairs Institute Canadian soldiers training in Latvia. Photo by Cpl Jean-Roch Chabot/DND/File Canada's plan to add more than $9 billion to defence spending this year was praised by military watchers Monday, but they cautioned that the country is shooting at a moving target. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Prime Minister Mark Carney announced the country would meet its commitment in this fiscal year of hitting the two per cent of gross domestic product mark that was agreed upon by NATO countries more than a decade back. 'It's very encouraging that the prime minister has come out this early in his mandate and made such a strong commitment to defence,' said Vincent Rigby, a former top intelligence adviser to former prime minister Justin Trudeau, who spent 14 years with Canada's Department of National Defence. 'You've gone from the former prime minister talking about the two per cent as a crass mathematical calculation to the current prime minister saying, no, this is actually a serious commitment. We committed to it 10 years ago and even before that. And we have to do it because we owe it to our allies. But we also owe it to the Canadian people. He made it quite clear this is about protecting Canada, protecting our national interests and protecting our values.' Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. New spending could do a lot to improve crumbling military infrastructure, said Michel Maisonneuve, a retired Canadian Army lieutenant-general who has served as assistant deputy chief of defence staff, and chief of staff of NATO's Allied Command. 'The housing on bases is horrible,' Maisonneuve said. He's keen on Carney's plan to participate in the $234-billion ReArm Europe program. 'This will bolster our ability to produce stuff for ourselves' while also helping the Europeans to do the same, Maisonneuve said. 'All the tree huggers are going to hate that, but that's where we are today in the world.' Carney's cash injection includes $2.6 billion to recruit and retain military personnel. The military is short about 13,000 people. It aims to boost the regular force to 71,500 and the reserves to 30,000 by the end of this decade. This advertisement has not loaded yet, but your article continues below. 'There is no way we can protect Canada and Canadians with the strength that we have now,' Maisonneuve said. Carney promised investment in new submarines, aircraft, ships, vehicles and artillery. He also talked about adding money to the defence budget for new radar, drones, and sensors to monitor the seafloor and the Arctic. 'All in all, great promises; we'll just have to see what actually comes through,' Maisonneuve said. 'You can have as many drones as you want, if you want to hold terrain, if you want to protect yourself, you're going to need boots on the ground.' Prime Minister Mark Carney is flanked by Chief of the Defence Staff Gen. Jennie Carignan, left, and National Defence Minister David McGuinty during an announcement the Fort York Armoury in Toronto on June 9, 2025. Photo byCarney promised pay raises for those in uniform, but a technical briefing after his speech was short on details about who might get them. 'Corporal Bloggins needs a lot more than General Smith does,' said defence analyst David Perry, who heads the Canadian Global Affairs Institute. This advertisement has not loaded yet, but your article continues below. 'The senior ranks are pretty well compensated. The military has got an affordability cost-of-living issue in the lower ranks.' For people who have to move regularly, like many in uniform, 'the total compensation package hasn't kept pace with changing cost pressures,' Perry said. 'The military is having a difficult time both getting people in and keeping them there once they do join. So, I think depending on how the pay measures are actually structured, it could have quite a significant impact.' Canada spent about 1.45 per cent of its GDP on defence last year. If Canada's defence spending does hit two per of GDP by March of 2026, 'by then the target probably will have moved,' Rigby said. 'So, we've hit two per cent just as the target's likely to go to 3.5 per cent or even right up to five per cent if you throw in extra security capabilities … beyond pure defence.' This advertisement has not loaded yet, but your article continues below. That will leave Canada 'playing serious catch up,' he said. NATO leaders are meeting later this month to discuss boosting military spending. 'Two per cent is not going to cut it in terms of where the rest of the alliance is,' Perry said. 'Pretty clearly there is a discussion about getting to a number much higher than that at the upcoming NATO summit. But given that we have been falling short of this now … 11-year-old target, I do think it's a good first step to help regain some Canadian credibility by putting the money in the window to actually get to the two per cent mark this fiscal year.' The other question is whether Canada be able to spend all of the promised money by next March, Rigby said. 'We all know that one of the problems over the last number of years is National Defence can't spend the money quickly enough.' This advertisement has not loaded yet, but your article continues below. The Canadian Armed Forces (CAF) returns between hundreds of millions and over a billion dollars annually to central treasury, Perry told National Post earlier this year. Carney is creating a defence procurement agency to help in that respect, Rigby said. 'It's not easy setting up new agencies. There are big machinery issues. It costs money. You've got to find the people.' Read More Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here. Vancouver Canucks Vancouver Canucks News News Sports
Cision Canada
3 hours ago
- Cision Canada
Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units
VANCOUVER, BC, June 9, 2025 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the " Private Placement"), previously announced on May 26, 2025 and June 4, 2025, consisting in the issuance of: (i) 11,206,088 common shares of the Company issued on a flow-through basis under the Income Tax Act (Canada) (each, a " FT Share") at a price of $0.11 per FT Share, and (ii) 4,400,000 non-flow-through units of the Company (each, a " NFT Unit") at a price of $0.10 per NFT Unit, for aggregate gross proceeds to the Company of $1,672,670. Each NFT Unit was comprised of one non-flow-through common share of the Company (each, a " NFT Share") and one non-flow-through common share purchase warrant (a " Warrant"). Each Warrant is exercisable by the holder thereof to acquire one NFT Share at an exercise price of $0.20 per NFT Share until June 9, 2027, subject to acceleration as described in the Company's press release dated June 4, 2025. The Company intends to use the gross proceeds of the Private Placement for exploration of the Company's SAY, JJB and Silver Hope properties, and for general working capital purposes, as more particularly described in the amended and restated offering document in respect of the Private Placement filed on under the Company's profile. The Company will use the gross proceeds from the issuance of FT Shares to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as such terms are defined in the Income Tax Act (Canada). The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in the Private Placement are not subject to a hold period under applicable Canadian securities laws. The securities issued to certain insiders of the Company that participated in the Private Placement are subject to a hold period expiring on October 10, 2025 in accordance with the policies of the TSX Venture Exchange (the " TSXV"). The Private Placement is subject to the final approval of the TSXV. The Company paid aggregate cash finder's fees of $89,196 and granted 829,145 non-transferable finder warrants (each, a " Finder Warrant") to arm's length finders of the Company, as compensation for locating purchasers in the Private Placement. Each Finder Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of $0.20 per share until June 9, 2027. The Finder Warrants and the common shares issued on exercise thereof are subject to a hold period expiring on October 10, 2025 in accordance with applicable securities laws. Gordon Steblin, the Chief Financial Officer of the Company, participated in the Private Placement by subscribing for 200,000 FT Shares, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by Mr. Steblin as a result of his participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insider in the Private Placement in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Private Placement. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto. The Company did not file a material change report less than 21 days before the expected closing date of the Private Placement as the insider participation was not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder. About Finlay Minerals Ltd. Finlay is a TSXV company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries. Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at On behalf of the Board of Directors, Robert F. Brown, Executive Chairman of the Board & Director Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the final approval for the Private Placement from the TSXV and the planned use of proceeds for the Private Placement. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the ability to obtain regulatory approval for the Private Placement, the state of equity markets in Canada and other jurisdictions, market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law. SOURCE Finlay Minerals Ltd.
