Latest news with #Sudbury-based
Yahoo
08-05-2025
- Business
- Yahoo
Canadian Securities Exchange Welcomes Listing of McFarlane Lake Mining
Toronto, Ontario--(Newsfile Corp. - May 8, 2025) - The Canadian Securities Exchange ("CSE" or "the Exchange") today welcomed the listing of McFarlane Lake Mining Limited ("McFarlane Lake" or the "Company"). The common shares of the Sudbury-based gold exploration company, which previously traded on the Cboe Canada exchange, were listed for trading on the CSE today under the symbol MLM. McFarlane Lake is currently advancing multiple properties in its portfolio. These include the past-producing McMillan/Mongowin gold properties, located 70 kilometres west of Sudbury, the past-producing West Hawk Lake property located immediately west of the Ontario-Manitoba border and the High Lake gold property located east of the Ontario-Manitoba border. The Company also owns the Michaud/Munro mineral properties situated 115 kilometres east of Timmins along the so-called "Golden Highway." "At approximately US$3,400 per ounce, the price of gold continues to rise amid global geopolitical uncertainties and the dearth of new mines being brought into production," said James Black, the CSE's Vice President, Listings Development. "The Canadian Securities Exchange has always been an ideal home for junior mining companies and we are pleased to welcome McFarlane Lake to the Exchange. We wish the Company success with its exploration program." About the Canadian Securities Exchange: The Canadian Securities Exchange is a rapidly growing exchange invested in working with entrepreneurs, innovators and disruptors to access public capital markets in Canada. The Exchange's efficient operating model, advanced technology and competitive fee structure help its listed issuers of all sectors and sizes minimize their cost of capital and enhance global liquidity. Our client-centric approach and corresponding products and services ensure businesses have the support they need to confidently realize their vision. The CSE offers global investors access to an innovative collection of growing and mature companies. STAY CONNECTED WITH THE CSE ============================= Website: TV on YouTube: CSE's "The Exchange for Entrepreneurs™" Podcast: Linkedin: Facebook: Contact:James Black To view the source version of this press release, please visit
CBC
05-03-2025
- Business
- CBC
Tariffs arrive when the pulp and paper business is already in a 'difficult place,' says CEO
The CEO of the pulp and paper mill in Kapuskasing, Ont., says he was not surprised, but is disappointed by U.S. tariffs that are expected to have a big impact on Canada's forestry sector. "The pulp and paper business is in a very difficult place in Ontario," said Terry Skiffington, the CEO of Kap Paper. In January, the century-old mill, historically known as Spruce Falls, received a $10-million loan from the provincial government in January to help the business diversify and keep it open through lean times. The province argued at the time that the loan would protect 2,500 jobs in the region, including the 300 people who work directly at the mill. In December 2023 the pulp and paper mill in Espanola, Ont., owned by Domtar, closed its operations. That left Kapuskasing as the last paper mill standing in northeastern Ontario. In addition to diversifying the business, by building a biomass plant which would produce energy by burning wood that can't be used for paper production, Skiffinton said Kap Paper, and the forestry industry at large need to look at markets outside the United States. Skiffington said that will mean focusing on products that are in higher demand in European and Asian markets. "We can move products into Europe, into Asia and into India relatively competitively, which is quite odd intuitively when we're sitting, essentially, in the geographic centre of Canada," he said. The 25 per cent tariffs on Canadian imports to the U.S. were levied on top of decades of softwood lumber tariffs. And U.S. President Donald Trump said he's exploring further fees on Canadian wood products. "I'm feeling like I've done a few rounds in the ring with Mike Tyson over the last little while, but our intention is to remain on that course," Skiffington said. Rallying around Canada At the Prospectors and Developers Association of Canada (PDAC) mining conference in Toronto, the sentiment from smaller Ontario companies was to rally together in the face of tariffs. "The side that I've been hearing more so right now is that it's actually just going to push us to be that much stronger and to support each other and what we're up to within the mining industry," said Kayla Nestler, the general manager at L. May, a Sudbury-based company that makes aluminum lunch boxes for underground miners. Nestler said nearly half of L. May's customers are based in the U.S. and tariffs could eventually lead to a price increase due to higher costs of manufacturing the lunch boxes. "We do hold intellectual property for the design of our product in both Canada and in the States, which means we don't have direct competitors in either country," she said. She said a possible silver lining from tariffs is a growing movement from Canadian businesses and customers to support each other and buy Canadian. "I think we're going to have to encourage each other. We're going to have to work together," Nestler said. "We're going to have to come up with solutions because I mean, if we don't, then we're just giving ourselves up essentially. I know that may sound horrible, but we need to make sure that we're supporting the businesses that can help leverage each other."
CBC
04-02-2025
- Business
- CBC
Ontario's forestry sector can't withstand more tariffs, says industry association
Northern Ontario's forestry industry says it welcomes a 30-day reprieve from more U.S. tariffs, which it says could decimate the sector. "I can assure you there is not one member company in our organization that could withstand a persistent and prolonged 25 per cent tariff at the border," said Ian Dunn, president and CEO of the Ontario Forest Industries Association. Dunn said a global tariff on Canadian exports to the United States, in addition existing tariffs on softwood lumber would be unsustainable for sawmills and the pulp and paper industry, which relies on those mills. In August, the U.S. raised tariff rates on imports of Canadian softwood lumber products from eight per cent to 14.5 per cent. "By this time next year, they should be around 30 per cent. So combined 40 to 60 per cent duties on softwood lumber ? That's effectively going to wipe out all U.S. shipments," Dunn said. Dunn said it's a challenge for the forestry industry to reduce its dependence on the U.S. due to proximity. But he said there are things that can be done in Canada to increase domestic demand in case of future tariffs. Some suggestions from the industry include changes to the building code to allow for taller buildings using lumber, and more biomass energy projects, essentially producing electricity by burning wood. Mining suppliers at risk Priya Tandon, president of the Ontario Mining Association, said smaller mining suppliers would be most at risk from tariffs on Canadian exports. "The space is so integrated with the U.S. and there'd be increased costs on both sides," she said. Don Bertrand, the owner of X-Glo North America, a Sudbury-based company that exports LED strip lighting for mines and tunnels, said his company is already being affected by U.S. tariffs on Chinese exports. That's because his products are manufactured in China. "It's quite concerning for a newer startup, in business for five years," Bertrand said. Bertrand said around 70 per cent of his customers are based in the U.S. "A lot of the U.S., they don't understand the whole tariff and how it's actually going to affect them," he said. "A lot of them think that the Canadian companies or the government are the ones paying these tariffs. They don't realize that it's the end user of the product that's going to actually take the brunt of that new tariff rate." For his customers in Canada, Bertrand said concern about tariffs has weakened the Canadian dollar, which makes purchases more expensive for them. "We quoted that project [in Montreal] last, I think it was November, and we had to re-quote it last week with an additional four to five per cent, just because of our dollar getting weaker," he said. For Ontario's mining industry as a whole, Tandon said a 30 day reprieve on tariffs is welcome, but the sector needs to expand more to other markets to reduce the impact of any potential tariffs on U.S. exports.
