Boeing shares fall after an Ethiopian Airlines’ 737 Max 8 plane crashed killing 157 passengers, including 18 Canadians. China, Ethiopia and Indonesia have already grounded the planes. After bickering for weeks, Barrick Gold Corp. and Newmont Mining Corp. announce a joint venture in Nevada. Australia’s Newcrest bets on Canada with a 70 per cent stake in a B.C. mine valued at US$807 million. And the IEA thinks the second wave of the U.S. shale revolution is coming.
Here’s what’s breaking this morning:
- Innovation Minister Navdeep Bains makes a funding announcement for small- and medium-sized manufacturers and users of steel and aluminum in Stoney Creek, Ont.
- Infrastructure Minister Francois-Philippe Champagne and Edmonton Mayor Don Iveson make an infrastructure announcement in Edmonton.
- IHS CERA Week, global oil industry’s Super Bowl, starts in Houston.
- Notable earnings: Linamar
The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day to the country’s already booming output, the International Energy Agency said on Monday.
“The second wave of the US shale revolution is coming,” said Dr Fatih Birol, the IEA’s executive director.
U.S. shale is set to take over the world again — what do you think that means for Canadian producers? With so many mining M&As, is this a good time to invest in gold? Please send your oil and gold price forecasts to firstname.lastname@example.org — Yadullah Hussain @Yad_FPEnergy
— With files from The Canadian Press, Thomson Reuters and Bloomberg