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Nova Scotia Ends Uranium Mining Ban

Nova Scotia is poised to lift its four-decade ban on uranium mining after a government bill cleared for third reading in the provincial legislature this week, potentially allowing the Canadian province to join the global clean energy supply chain.

The reversal comes as modern mining techniques have evolved significantly since the original 1981 moratorium, which was later strengthened to a full ban in 2009 under the previous NDP government.

“Modern uranium mining is a safe, environmentally responsible activity that is essential to achieving climate goals,” said Sean Kirby, executive director of the Mining Association of Nova Scotia (MANS). “There is no health, safety or environmental reason to ban uranium.”

You can read more on the matter here.

What’s going on?

• Poilievre’s Trades Worker Plan Draws Union Support As Campaign Hits Prairies (theDeepDive)

• Liberals promise to build nearly 500,000 homes per year, create new housing entity (Yahoo)

• Fraudsters All Around: Trump Issues Pardons to Executives Convicted of Financial Crimes (theDeepDive)

• Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy (Bloomberg)

• Hut 8 Moves Its Miners Into Eric Trump-Backed American Bitcoin Corp (theDeepDive)

• Trump’s proposed tariffs likely to cause shortages of Canadian-made drugs in U.S., study says (Globe)

• Could Flooded Namibian Mines Lead To Uranium Oversupply? (theDeepDive)

• Rocket to buy Mr Cooper in $9.4bn deal to create US mortgage giant (FT)

• Carney: Canada-US Partnership “Is Over” (theDeepDive)

• France's Le Pen convicted of graft, barred from running for president in 2027 (Reuters)

• GDLS Canada Seeks Government Orders to Prevent Layoffs (theDeepDive)

• US Sanctions More Hong Kong Officials Amid Beijing-Led Crackdown (Bloomberg)

What’s the latest?

• Siemens: Siemens will invest $150 million over five years to establish a Global AI Manufacturing Technologies R&D Center for battery production in Canada, located in Oakville, Toronto, and Kitchener-Waterloo. The facility will focus on AI technologies to enhance battery and EV production, boosting quality, workforce productivity, and recycling efficiency. The investment is expected to strengthen Canada’s battery manufacturing industry, supported by federal and Ontario provincial governments. Siemens aims to position itself as a global leader in battery production innovation through this initiative.

• Politics: Liberal Leader Mark Carney pledged to double home construction to 500,000 units annually by creating Build Canada Homes, offering $25 billion in financing for prefab housing. Conservative Leader Pierre Poilievre proposed a national energy corridor to accelerate approvals for key infrastructure, aiming to bypass the U.S. and boost domestic trade. Both plans are positioned as responses to U.S. President Donald Trump’s tariff threats, with Canadians voting in a general election on April 28.

• Northvolt: Bankrupt battery maker Northvolt AB will continue operations in Sweden with 1,700 employees while laying off the rest of its 7,000 staff. The company, which accumulated $10 billion in debt and equity since 2016, filed for U.S. bankruptcy protection after operational failures. A Swedish court-appointed trustee has put Northvolt’s business and assets up for sale, with financial guarantees secured to maintain limited operations during the sale process.

• Gold: Gold hit a record high of $3,115 an ounce, marking its 15th all-time high this year and an 18% YTD gain, driven by central bank buying and haven demand amid geopolitical uncertainties. Goldman Sachs raised its year-end forecast to $3,300, citing strong demand and ETF inflows. The surge comes as markets brace for Trump’s 25% auto tariffs and upcoming reciprocal tariffs, with lower interest rates further supporting gold’s momentum.

• Bell Media: Bell Media, a subsidiary of BCE Inc., is shifting focus from hosting Hollywood productions to selling Canadian shows globally, investing over C$1 billion annually in content. The company acquired a majority stake in Sphere Abacus to boost international sales and signed deals with Canadian stars like Seth Rogen and Elliot Page. Bell Media’s revenue grew 1.1% to C$3.2 billion last year, and its strategy now focuses on growing its production and streaming arms amid declining traditional TV subscriptions.

ALLIED GOLD Q4 Earnings

The stock market and stuff

• Crypto Whale Purchases $223 Million Worth of Solana Tokens (theDeepDive)

• Gaming Giant Discord Reportedly Eyeing Public Listing (theDeepDive)

• Klarna CEO says he’s ‘crazy enough’ to think company can be ‘the next Google’ as IPO approaches (CNBC)

• Nvidia Props Up Customer CoreWeave’s IPO (theDeepDive)

• Spirit Blockchain: The Hunt for Assets Under Management Begins (theDeepDive)

In the juniors

• Revival Gold Outlines $294 Million NPV For Mercur Gold At $2,175 Gold (theDeepDive)

• Vizsla Silver Makes New Discovery At Panuco Following Drill Testing (theDeepDive)

• Gold Flora Corp Files for Voluntary Receivership Amid Mounting Debt (theDeepDive)

• Luca Mining Issues Guidance After Tahuehueto Hits Commercial Production (theDeepDive)

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