Jump-starting the economy through interprovincial trade - Yahoo Canada Finance | Canada News Media
Connect with us

Economy

Jump-starting the economy through interprovincial trade – Yahoo Canada Finance

Published

4 years ago

 on


GlobeNewswire

Kirkland Lake Gold Announces Filing of 2021 Sustainability Report

TORONTO, March 30, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the filing of the Company’s 2021 Sustainability Report (the “2021 Sustainability Report” or the “Report”). The 2021 Sustainability Report outlines the Company’s achievements in 2020 and provides guidance on the Company’s sustainability efforts for 2021. The Report is available on the Company’s website at www.kl.gold. All dollar amounts in this press release are expressed in US dollars, unless otherwise indicated. The Report highlights the significant progress achieved by the Company during the past year in the areas of sustainability and responsible mining. Among key initiatives discussed are: Adopting the World Gold Council’s Responsible Gold Mining Initiatives and completing the Year One external assuranceImplementing a Diversity, Equality and Inclusion Policy across the organization and introducing policies and standards on Human Rights, Supplier Code of Conduct and Grievance Resolution;Investing in local communities, with total spending of $905 million in Ontario and Victoria (representing 76% of total expenditures), and the payment of $306 million in wages, most of which remained local;Maintaining leadership in limiting carbon emissions, with all three of the Company’s operating mines having greenhouse gas intensity levels well below industry averages and Macassa having among the lowest greenhouse gas emissions for gold mines globally;Making donations of $3.5 million to local health care and community groups in the areas where the Company operates;Receiving the prestigious 2020 Tom Peters Memorial Mine Reclamation Award in recognition of Detour Lake Mine’s Progressive Reclamation Program:Committing to invest $75 million per year for five years in technology and innovation aimed at further reducing the Company’s carbon footprint by advancing and commercializing alternative fuel and energy sources, building the smart mines of the future with a focus on automation, digitization and connectivity, and providing additional support to the communities with a focus on health care, homelessness, addiction, senior care and youth training and development: and,Targeting to be a Net Zero Greenhouse Gas Emission company by 2050 or sooner. Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “Mining in an environmentally and socially responsible way is essential to our operating and financial success and we are committed to integrating and promoting sustainability into all facets of our business. Our 2021 Sustainability Report highlights a year of significant progress in advancing our efforts to mine responsibly and maintain our social license. In preparing the Report, an area of particular focus was increasing our disclosures on Environment, Social and Governance (‘ESG’) topics. We have advanced our sustainability reporting for further inclusion of Sustainable Accounting Standards Board (SASB) disclosures and metrics for Metals and Mining, in addition to embracing the Responsible Gold Mining Principles of the World Gold Council and the Mining Association of Canada’s Towards Sustainable Mining. We encourage you to read our Sustainability Report to learn more about our efforts to advance responsible mining at Kirkland Lake Gold and welcome your feedback. We are proud of our people and their efforts to promote sustainability and are excited about the prospects for additional progress in 2021.”The Company is hosting a “Teach In” presentation on Wednesday, March 31, 2021 from 2:00 pm ET – 3:00 pm ET to review highlights of the 2021 Sustainability Report. Those wishing to participate the presentation can do so by clicking on the link below and registering for the event. Confirmation of registration will be received via email with additional information for accessing the presentation being provided. A Q&A session will follow with questions being submitted through a Webex Chat. The Webex links will also be available on the Company’s website. 2021 Sustainability Report “Teach-In” PresentationDate: Wednesday, March 31, 2021, 2:00 pm ET – 3:00 pm ETWebex Link:https://kirklandlakegold.webex.com/kirklandlakegold/j.php?MTID=m63e50949225bdd9d5494d8ba637f3438 About Kirkland Lake Gold Ltd. Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise. For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold. FOR FURTHER INFORMATION PLEASE CONTACT: Anthony Makuch, President, Chief Executive Officer & DirectorPhone: +1 416-840-7884E-mail: tmakuch@kl.gold Mark Utting, Senior Vice President, Investor RelationsPhone: +1 416-840-7884E-mail: mutting@kl.gold Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release constitute ‘forward looking statements’, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, among others, the development of the Company’s smart mines and the anticipated timing thereof and the ability to reduce the Company’s future carbon footprint through the commercialization of alternative fuel and energy sources, as well as those risk factors discussed or referred to in the AIF of the Company for the year ended December 31, 2020 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Let’s block ads! (Why?)



Source link

Related Topics:
Continue Reading

Economy

Canada’s unemployment rate holds steady at 6.5% in October, economy adds 15,000 jobs

Published

6 days ago

 on

November 8, 2024

By

 

OTTAWA – Canada’s unemployment rate held steady at 6.5 per cent last month as hiring remained weak across the economy.

Statistics Canada’s labour force survey on Friday said employment rose by a modest 15,000 jobs in October.

Business, building and support services saw the largest gain in employment.

Meanwhile, finance, insurance, real estate, rental and leasing experienced the largest decline.

Many economists see weakness in the job market continuing in the short term, before the Bank of Canada’s interest rate cuts spark a rebound in economic growth next year.

Despite ongoing softness in the labour market, however, strong wage growth has raged on in Canada. Average hourly wages in October grew 4.9 per cent from a year ago, reaching $35.76.

Friday’s report also shed some light on the financial health of households.

According to the agency, 28.8 per cent of Canadians aged 15 or older were living in a household that had difficulty meeting financial needs – like food and housing – in the previous four weeks.

That was down from 33.1 per cent in October 2023 and 35.5 per cent in October 2022, but still above the 20.4 per cent figure recorded in October 2020.

People living in a rented home were more likely to report difficulty meeting financial needs, with nearly four in 10 reporting that was the case.

That compares with just under a quarter of those living in an owned home by a household member.

Immigrants were also more likely to report facing financial strain last month, with about four out of 10 immigrants who landed in the last year doing so.

That compares with about three in 10 more established immigrants and one in four of people born in Canada.

This report by The Canadian Press was first published Nov. 8, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Health-care spending expected to outpace economy and reach $372 billion in 2024: CIHI

Published

1 week ago

 on

November 6, 2024

By

 

The Canadian Institute for Health Information says health-care spending in Canada is projected to reach a new high in 2024.

The annual report released Thursday says total health spending is expected to hit $372 billion, or $9,054 per Canadian.

CIHI’s national analysis predicts expenditures will rise by 5.7 per cent in 2024, compared to 4.5 per cent in 2023 and 1.7 per cent in 2022.

This year’s health spending is estimated to represent 12.4 per cent of Canada’s gross domestic product. Excluding two years of the pandemic, it would be the highest ratio in the country’s history.

While it’s not unusual for health expenditures to outpace economic growth, the report says this could be the case for the next several years due to Canada’s growing population and its aging demographic.

Canada’s per capita spending on health care in 2022 was among the highest in the world, but still less than countries such as the United States and Sweden.

The report notes that the Canadian dental and pharmacare plans could push health-care spending even further as more people who previously couldn’t afford these services start using them.

This report by The Canadian Press was first published Nov. 7, 2024.

Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Trump’s victory sparks concerns over ripple effect on Canadian economy

Published

1 week ago

 on

November 6, 2024

By

 

As Canadians wake up to news that Donald Trump will return to the White House, the president-elect’s protectionist stance is casting a spotlight on what effect his second term will have on Canada-U.S. economic ties.

Some Canadian business leaders have expressed worry over Trump’s promise to introduce a universal 10 per cent tariff on all American imports.

A Canadian Chamber of Commerce report released last month suggested those tariffs would shrink the Canadian economy, resulting in around $30 billion per year in economic costs.

More than 77 per cent of Canadian exports go to the U.S.

Canada’s manufacturing sector faces the biggest risk should Trump push forward on imposing broad tariffs, said Canadian Manufacturers and Exporters president and CEO Dennis Darby. He said the sector is the “most trade-exposed” within Canada.

“It’s in the U.S.’s best interest, it’s in our best interest, but most importantly for consumers across North America, that we’re able to trade goods, materials, ingredients, as we have under the trade agreements,” Darby said in an interview.

“It’s a more complex or complicated outcome than it would have been with the Democrats, but we’ve had to deal with this before and we’re going to do our best to deal with it again.”

American economists have also warned Trump’s plan could cause inflation and possibly a recession, which could have ripple effects in Canada.

It’s consumers who will ultimately feel the burden of any inflationary effect caused by broad tariffs, said Darby.

“A tariff tends to raise costs, and it ultimately raises prices, so that’s something that we have to be prepared for,” he said.

“It could tilt production mandates. A tariff makes goods more expensive, but on the same token, it also will make inputs for the U.S. more expensive.”

A report last month by TD economist Marc Ercolao said research shows a full-scale implementation of Trump’s tariff plan could lead to a near-five per cent reduction in Canadian export volumes to the U.S. by early-2027, relative to current baseline forecasts.

Retaliation by Canada would also increase costs for domestic producers, and push import volumes lower in the process.

“Slowing import activity mitigates some of the negative net trade impact on total GDP enough to avoid a technical recession, but still produces a period of extended stagnation through 2025 and 2026,” Ercolao said.

Since the Canada-United States-Mexico Agreement came into effect in 2020, trade between Canada and the U.S. has surged by 46 per cent, according to the Toronto Region Board of Trade.

With that deal is up for review in 2026, Canadian Chamber of Commerce president and CEO Candace Laing said the Canadian government “must collaborate effectively with the Trump administration to preserve and strengthen our bilateral economic partnership.”

“With an impressive $3.6 billion in daily trade, Canada and the United States are each other’s closest international partners. The secure and efficient flow of goods and people across our border … remains essential for the economies of both countries,” she said in a statement.

“By resisting tariffs and trade barriers that will only raise prices and hurt consumers in both countries, Canada and the United States can strengthen resilient cross-border supply chains that enhance our shared economic security.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version