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More investment from Enbridge – Chatham Voice

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Enbridge has big expansion plans in store for Chatham-Kent.

The energy giant is investing $350 million in two major projects designed to boost the municipality’s access to energy and better position Chatham-Kent for future growth.

The first project, called the Panhandle Regional Expansion Project, includes the construction of 19 kilometres of new pipeline.

The line will be built adjacent to an existing pipeline corridor between the Dover Transmission Station, located at Balmoral Line and Town Line Road.

A new station will also be built in Lakeshore.

Subject to Ontario Energy Board approval, if given the go-ahead, construction on the $300 million pipeline would begin in early 2023, with some components to be completed in 2024.

The second piece of the investment involves a partnership with Waste Connections of Canada, which will see a $50-million renewable natural gas facility (RNG) built at the Ridge Landfill site near Blenheim.

When complete, the new plant will be able to heat 40,000 homes in Chatham-Kent by repurposing decomposing waste. It’s expected to reduce greenhouse gas emissions by 110,000 tonnes per year.

The new RNG facility also needs OEB approval, and, if granted, construction will commence in spring 2023 with an end date later that year.

Chatham-Kent Mayor Darrin Canniff said Enbridge is stepping up to bolster Chatham-Kent’s growing energy needs.

“Enbridge is ensuring that C-K meets these growing demands by undertaking this significant infrastructure investment,” Canniff said in a media statement, adding both projects support the municipality’s future as an “important economic hub and hotspot for growth.”

Chatham-Kent council recently agreed to throw their formal support behind both of the Ontario Energy Board applications.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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