Increased U.S. steel tariffs has northern Ontario mayor asking feds for urgent help
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Globe and Mail
31 minutes ago
- Globe and Mail
Canadian National Railway Reports Resilient Q2 2025 Results
Canadian National Railway Company ( (CNI)) has released its Q2 earnings. Here is a breakdown of the information Canadian National Railway Company presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Canadian National Railway Company (CN) is a leading North American transportation and logistics company, operating a vast rail network that connects Canada's coasts with the U.S. Midwest and Gulf Coast, facilitating the movement of over 300 million tons of goods annually. In its latest earnings report for the second quarter of 2025, CN demonstrated resilience in a challenging economic environment, achieving notable financial performance through strategic cost management and operational adjustments. Despite a slight dip in revenue, the company managed to increase its operating income and improve its operating ratio, reflecting efficient cost control measures. Key financial highlights from the quarter include a 5% increase in operating income to C$1,638 million, despite a 1% decrease in total revenues to C$4,272 million. The operating ratio improved to 61.7%, showcasing enhanced operational efficiency. Additionally, diluted earnings per share rose by 7% to C$1.87. However, revenue ton miles saw a slight decline of 1% to 59,215 million, indicating some challenges in freight volume. Looking ahead, CN has adjusted its 2025 earnings guidance due to ongoing economic uncertainties, now expecting adjusted diluted EPS growth in the mid to high single-digit range. The company remains committed to its capital investment plans, aiming to bolster its infrastructure and service capabilities amidst a volatile macroeconomic landscape.
Globe and Mail
31 minutes ago
- Globe and Mail
Saskatchewan bringing in military personnel, helicopters to fight wildfires
Saskatchewan is set to get help from Ottawa as dozens of wildfires burn in the province. Federal Emergency Management Minister Eleanor Olszewski says she has approved a request for federal assistance and that Armed Forces personnel and helicopters are being deployed. It comes after Saskatchewan's Public Safety Minister Tim McLeod, said he wrote to Olszewski asking for up to 300 crew members to mop up blazes. He said the province requested helicopters for bucketing and to move crews, and it also needs water haulers and sprinklers to protect communities. Premier Scott Moe's Saskatchewan Party government had previously refused asking for federal aid, saying Ottawa did not have what Saskatchewan needed. The province is reporting 50 active wildfires, including 14 uncontained. Wildfires continue to cause havoc in neighbouring Manitoba, where the northwestern community of Leaf Rapids says a blaze has entered the community. The town says the fire jumped the Churchill River and entered the community through its industrial area. It said on social media that all personnel, including firefighters, have had to leave. Provincial data says the fire is out of control and is about 25 square kilometres in size. Multiple wildfires are burning around the community located 980 kilometres northwest of Winnipeg, including one southwest of the town that is more than 303 square kilometres in size. There are 121 wildfires burning in Manitoba, 12 of which are considered out of control.
Globe and Mail
31 minutes ago
- Globe and Mail
Teck Resources gives green light to $2.4-billion B.C. mine extension
Teck Resources Ltd. TECK-B-T said on Thursday that it is going ahead with an extension of its Highland Valley Copper Mine development that could cost as much as $2.4-billion, making it the largest critical-minerals investment in B.C.'s history. Teck said the project will extend the life of the mine from 2028 to 2046 to meet surging demand for copper for the electrification of the global economy. The Vancouver-based company said it would start construction in August after garnering the required permits last month. The project is expected to create about 2,900 jobs and generate $435-million in additional gross domestic product during the construction phase, it said. It will support 1,500 jobs over the life of the mine. 'This extension of Canada's largest copper mine, Highland Valley Copper, is foundational to our strategy to double copper production by the end of the decade,' Teck chief executive officer Jonathan Price said in a statement. High Teck: The Canadian miner bets its future on a copper mine in the Atacama Desert $30-billion in investment needed by 2040 to meet Canada's critical mineral demand, report finds Extending production at the site, about 75 kilometres southwest of Kamloops, will generate a 'robust' rate of return for the company and guarantee access to the metal for the next two decades, Mr. Price said. He added that Teck looks forward to collaborating with First Nations and local communities as it develops the project. Production from the Highland Valley mine is expected to average 132,000 tonnes per year over its life, Teck said. 'The project will strengthen Canada's critical-minerals sector, generate new economic activity, and support the continuation of the jobs and community benefits that HVC generates for many more years to come,' he said. The company has said that it expects demand for copper to double by the middle of the century as the world shifts to a low-carbon economy and population grows, especially in cities. Engineering for the project is more than two-thirds complete and Teck said procurement and contracting are well under way. Based on Teck's most recent studies, it expects the extension will cost $2.1-billion to $2.4-billion. The outlay will go toward development of infrastructure at the site, expansion of its mining-equipment fleet, grinding-circuit upgrades, increased capacity for tailings storage and improvements to power and water systems, Teck said. The company said the new estimate reflects updated assumptions based on current construction-industry risks and potential opportunities for cost reductions during the work. It also takes into account the potential impact of tariffs on construction materials. Federal Energy and Natural Resources Minister Tim Hodgson said the mine extension positions the country as a critical-minerals supplier of choice. 'Canada has the natural resources that the world wants – and it is projects like these that put us on the map,' he said in a statement. Teck said it has updated its 2025 financial targets and its 2028 production outlook to reflect its decision to green-light the project.
