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Zijin vows to keep investing in Canadian mining

Chinese mining firm Zijin Mining Group is undeterred by Canada’s ongoing efforts to limit foreign investments in its mining sector. Despite increasing scrutiny and regulatory hurdles aimed at curbing China’s influence over critical mineral supply chains, the company remains committed to seeking new investments in Canadian mining, according to Shaoyang Shen, Zijin’s vice president.

In a statement given at the Denver Gold Group’s annual conference in Colorado, Shen emphasized Zijin’s determination to maintain a foothold in the Canadian market, particularly with junior exploration firms.

You can read more on the matter here.

What’s going on?

• Belfast’s Iconic Shipyard Seeks New Owners as Parent Company Enters Administration (theDeepDive)

• US Housing Starts Increase to Fastest Pace Since April (Bloomberg)

• Justin Trudeau Suggests Canadians ‘Need to Be More Engaged’ Following By-election Loss (theDeepDive)

• New mortgage rules attracting potential buyers after years of slow sales, brokers and realtors say (Globe)

• BP Announces Sale of US Onshore Wind Energy Business (theDeepDive)

• The Fed’s biggest interest rate call in years happens Wednesday. Here’s what to expect (CNBC)

• Inside Russia’s Secret Propaganda Army Manipulating Europe’s Far-Right and Targeting Ukraine (theDeepDive)

• Dollar Stores Expand Aggressively Even as Sales Shrink (WSJ)

• OpenAI’s Latest Chatbot Aces IQ Test, Now Smarter than 9 out of 10 People (theDeepDive)

• Amazon raises pay of US hourly workers in fulfillment, transport ops (Reuters)

What’s the latest?

• MLSE Sale: Rogers Communications Inc. is set to buy Bell’s 37.5% stake in Maple Leaf Sports & Entertainment for C$4.7 billion, increasing Rogers’ ownership to 75%. MLSE, which owns major sports teams like the Toronto Maple Leafs, Raptors, and Toronto FC, is valued at C$12.53 billion in the deal. Bell plans to use the proceeds to reduce debt and support its transformation into a tech company.

• Non-Confidence: Conservative Leader Pierre Poilievre plans to table a motion of non-confidence next Tuesday, aiming to trigger a federal election. The motion will challenge the Liberal government's leadership, with a vote set for Wednesday. Poilievre is pushing for an election to address issues like the carbon tax, housing, and crime, capitalizing on his party's current polling advantage. The outcome depends on whether the NDP supports the motion.

• Minister Exit: Federal Transport Minister Pablo Rodriguez is expected to resign from his cabinet position to pursue leadership of the Liberal Party of Quebec (PLQ), according to sources from CBC News and Radio-Canada. Rodriguez, who has served as Prime Minister Justin Trudeau's Quebec lieutenant, is anticipated to announce his resignation on Thursday.

• WealthSimple: Wealthsimple, marking its 10th anniversary, has revealed for the first time that it is profitable, driven by an 88% revenue increase in Q2 to $129 million and more than $50 billion in assets under management—double from a year ago. The company, which started as a robo-advisor, has expanded its offerings to include no-commission trading, mortgages, and banking services, with over three million customers.

• Geopolitics: Multiple explosions occurred Wednesday at the funeral of three Hezbollah members and a child, who were killed by exploding pagers the previous day, according to Associated Press reports. Hezbollah's Al Manar TV and a Hezbollah official confirmed that walkie-talkies used by the group exploded, with blasts reported in various areas of Lebanon, including Beirut.

Robex's 3.4M Oz gold resource project

The stock market and stuff

• BCE Sells 37.5% Interest In MLSE To Rogers For $4.7 Billion (theDeepDive)

• India overtakes China in world’s biggest investable stock benchmark (FT)

• Alaska closes $1.9 billion acquisition of Hawaiian Airlines after DOT blessing (CNBC)

• Gold Rush: Wealthy Investors Join Central Banks in Buying Gold with John Feneck of Feneck Consulting (theDeepDive)

• Google Wins Fight Over €1.5 Billion EU Fine for Ads Abuse (Bloomberg)

• Jensen Huang Offloads NVIDIA Shares as AI Chip Demand Surges (theDeepDive)

• Sleep Country shareholders approve sale to Fairfax Financial (BNN)

In the juniors

• LaFleur Minerals Reports Initial Resource Of 187,900 Gold Ounces At Swanson Property (theDeepDive)

• Electra Enters Joint Venture For Battery Recycling In Southern Ontario (theDeepDive)

• 37.6 Billion Lbs Copper Titan with Rob McEwen of McEwen Mining Inc (theDeepDive)

• First Phosphate Reports Initial Resource For Begin-Lamarche Of 255 Mt At Over 6% P2O5 (theDeepDive)

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