Newcrest To Leave Canada’s Toronto Stock Exchange
News: Australian gold producer Newcrest Mining has stated that it will be delisting its shares from Canada ' s Toronto Stock Exchange (TSX) on September 4 2013, Mining.com reports. The company stated that the TSX listing had not delivered the benefits it had expected and that no further value was expected to be created in the future. The company ' s shares will continue to be listed on the stock exchanges in Australia and Pap ua New Guinea.
BMI View: Canada's mining sector will see solid, if slow, growth thanks to diversified mineral deposits and a steady pipeline of investment. The country is a top 10 global producer of zinc, lead, iron ore, nickel, copper, gold, silver, uranium and potash. With many companies both headquartered and producing in Canada, the mining sector is crucial to the Canadian economy. Thus, we expect Canada's political leadership to maintain favourable tax and regulatory policies for the sector. However, weak US growth, eurozone troubles, and slowing, less commodity-intensive growth in China, will weigh the industry.