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Goldcorp ups Osisko takeover bid to Can$3.6 bn

Canadian mining giant Goldcorp upped its hostile takeover bid for rival Osisko Mining Corp. on Thursday to about Can$3.6 billion (US$3.3 billion). The new offer consists of Can$7.65 per share, the Vancouver-based company said. In January, Osisko had rejected Goldcorp's previous offer of Can$5.95 per share, or Can$2.6 billion, calling it insufficient. "Goldcorp's increased offer represents straightforward and superior value for Osisko shareholders," Goldcorp President and Chief Executive Chuck Jeannes said in a statement.

SaskTel profits expected to drop; CEO questions federal telecom rules

REGINA - The CEO of SaskTel says he is heading to Ottawa to argue that new federal regulations are hurting the Crown corporation’s bottom line. SaskTel has released its annual report showing net income of $90.1 million. That number is expected to drop next year to $59.2 million — and that's raising concerns on the part of company president Ron Styles. He says prices in provinces with four carriers, such as Saskatchewan, are much lower than in provinces where only the three large carriers do business.

Toronto stock market makes triple-digit gain on stronger commodities

TORONTO - The Toronto stock market closed with a strong advance Tuesday as key commodity prices touched their highest levels in weeks. The S Since last week, the resource-weighted TSX has been largely motivated by concerns about the fragility of the global economy and speculation that stock markets could be headed for a pullback. By Tuesday, those worries appeared to have largely subsided, with the TSX mining sector one of the biggest gainers, up 1.9 per cent.

Customer growth, Latin American expansion key priorities for Scotiabank: CEO

KELOWNA, B.C. - Scotiabank's key focus this year will increasing its presence in Latin America and growing its customer base, the bank's chief executive said Tuesday. CEO Brian Porter, who was addressing an annual meeting of shareholders for the first time since taking over as chief executive from Rick Waugh in November, said the Bank of Nova Scotia (TSX:BNS) wants to sharpen its focus on its chosen markets of Peru, Colombia, Mexico and Chile.

EDC leads banking partnership in US$775M financing for Vale's global expansion

OTTAWA - A Canadian banking partnership led by Export Development Canada has announced US$775 million in financing for Vale SA, the Brazilian mining conglomerate that is also a major player in Canada. The deal includes US$500 million from EDC, with the Royal Bank of Canada (TSX:RY), Canadian Imperial Bank of Commerce (TSX:CM) and the Bank of Nova Scotia (TSX:BNS) providing the remaining US$275 million, EDC said Tuesday. Vale is the largest Brazilian investor in Canada with the former Inco operations.

EDC leads banking partnership in US$775M financing for Vale's global expansion

OTTAWA - A Canadian banking partnership led by Export Development Canada has announced US$775 million in financing for Vale SA, the Brazilian mining conglomerate that is also a major player in Canada. The deal includes US$500 million from EDC, with the Royal Bank of Canada (TSX:RY), Canadian Imperial Bank of Commerce (TSX:CM) and the Bank of Nova Scotia (TSX:BNS) providing the remaining US$275 million, EDC said Tuesday. Vale is the largest Brazilian investor in Canada with the former Inco operations.

New PotashCorp chief executive a mining veteran, but no potash experience

TORONTO - The next chief executive of Potash Corp. of Saskatchewan Inc. (TSX:POT) will take the helm at a time of transition for the fertilizer giant as it completes a multi-billion dollar expansion plan. Jochen Tilk has over 30 years of experience in the mining industry, but the former president and CEO of Inmet Mining has none in the potash sector. RBC Capital Markets analyst Andrew Wong says Tilk has a proven background as a strong operator during nearly 25 years at Inmet.

PotashCorp names Jochen Tilk as company's new CEO

SASKATOON - The Potash Corporation of Saskatchewan Inc. (TSX:POT) is bringing in a new president and CEO. The company says Jochen Tilk will take over from current CEO Bill Doyle effective July 1. Tilk boasts a 30 year career in the mining industry, most recently serving as CEO of Inmet Mining. The company came under fire last year after it announced it was laying off more than one-thousand people, including 440 in Saskatchewan. PotashCorp blamed the cuts on soft demand for potash and phosphates, two major types of crop fertilizer.

Rogers says NHL fans will benefit from wireless spectrum purchase

MONTREAL - Rogers Communications is betting consumers — especially NHL hockey fans — will be watching more video on their tablets and smartphones with its recent $3.3-billion purchase of wireless spectrum. Rogers said Thursday the new spectrum will help it better handle increased traffic on its network, and will complement its 12-year deal with the NHL for the English and French national broadcast rights to all games, including the playoffs and the Stanley Cup final on all of its platforms.

Industry Canada says participants in wireless spectrum auction have paid up

OTTAWA - Industry Minister James Moore says telecom companies that took part in the wireless spectrum auction in January that raised a record $5.27 billion have paid up in full for their licences. Moore made the announcement on Twitter in a short tweet about the 700 megahertz spectrum auction, noting the licences have been transferred to winning bidders.
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