TORONTO (Reuters) -Canadian miner Allied Gold could look at alternative options for a power supply deal at its Sadiola mine in Mali following a surge in gold prices and the emergence of new opportunities, its CEO told Reuters in an interview on Monday.
The gold miner signed an agreement in February with UAE-based Ambrosia Investment, giving Ambrosia a 50% stake in the mine in return for installing a new power supply system that would have improved the mine’s costs. Allied Gold was also supposed to receive $500 million, with approximately $250 million in upfront cash consideration from Ambrosia.
The deal is yet to close.
Allied Gold CEO Peter Marrone said the deal may close in June, but if it does not, it is because other options have become available to the company.
“Our position in the country has changed dramatically along with gold prices,” Marrone said. “The world has changed since we put the deal together.”
Gold prices have surged nearly 30% this year to date and hit a record $3,500.05 per ounce on April 22.
Ambrosia Investment did not immediately respond to a request for comment.
Marrone said the universe of power solutions for the company changed dramatically after Allied Gold signed a new mining convention with the Mali government last year.
Mali is Africa’s third-largest gold producer and the military-led government wants to increase revenue from the mining sector. The government believes current arrangements are unfair and has said that foreign multinationals must comply with its demands if they want to continue operating.
The country is in dispute with another Canadian miner, Barrick Mining, which is the only gold miner that has not signed Mali’s new mining code.
Allied Gold said it took a pragmatic approach to settling with the government.
“We looked at how best we can deliver returns to our investors, and came to the conclusion that let’s take an action based on cooperation and support,” Marrone said.
Allied Gold, already listed in Toronto Stock Exchange, began its dual listing on Monday on the New York Stock Exchange.
(Divya Rajagopal in Toronto; Editing by Nia Williams)
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Calgary, Alberta–(Newsfile Corp. – June 9, 2025) – Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF) (“Northstar”), an emerging waste to value enterprise that is currently commissioning its inaugural asphalt shingle reprocessing facility in Calgary, Alberta, announced today that it will be presenting at the 2025 Canadian Climate Investor Conference (CCIC), taking place on Wednesday June 11, 2025 at the Arcadian Court in Toronto, Ontario.
For a complete agenda of the conference and to register, see the conference website here: https://events.tsx.com/ccic/.
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About Northstar Clean Technologies
Northstar is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar’s mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives.
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About the Canadian Climate Investor Conference
The Canadian Climate Investor Conference (CCIC), hosted by Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), brings together growth-oriented clean technology and renewable energy companies, and climate conscious investors, to share ideas and discover ways to accelerate the deployment of capital needed to build a more sustainable future for Canadians.
The conference showcases clean technology investments and is designed to help democratize the ability for investors to participate in growing the clean technology ecosystem.
The content in this section is supplied by Newsfile for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content.
Toronto, Ontario–(Newsfile Corp. – June 9, 2025) – Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (“Seabridge” or the “Company”) has released its 2024 Sustainability Report, underscoring the Company’s ongoing commitment to responsible exploration and development practices, community engagement, and environmental stewardship. The full report is here.
Safety Excellence
In 2024, Seabridge achieved its best safety performance in Company history. Total reported incident frequency was 0.50, well below the 2.0 target set by management. This accomplishment reflects our dedication to fostering a positive safety culture and implementation of comprehensive safety practices introduced in 2023.
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Diversity and Inclusion
Seabridge continues to develop a diverse and inclusive culture starting with our Board of Directors and moving throughout the organization. At the board level, 36% of directors are women and several board committees are chaired by women. Additionally, female representation in the Seabridge organization has risen to 53%, demonstrating our commitment to fostering an inclusive and diverse workplace.
Environmental Stewardship and Indigenous Engagement
Seabridge remains at the forefront of environmental stewardship and Indigenous engagement. We work diligently to be an industry leader in forming genuine working partnerships with First Nations and voluntarily rehabilitating the negative environmental impacts of legacy mining at our projects. A robust analysis of the Company’s carbon footprint has been formulated as a foundation for future steps toward achieving sustainability objectives.
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Community Investment
In 2024, Seabridge continued its support for local communities. We invested in various community development projects, focusing on our traditional priorities of education, health, and infrastructure. Notably, Seabridge supported the Dr. R.E.M. Lee Foundation to establish a Tier 3 Neonatal Intensive Care Unit at Mills Memorial Hospital in Terrace, British Columbia. This facility provides critical care to mothers and pre-term babies, enabling families to stay closer to their loved ones during challenging births.
Looking Ahead
Seabridge remains dedicated to advancing sustainable exploration and development practices and creating lasting value for its stakeholders. We continue to assess and address our climate and nature-related risks and opportunities, aiming to be a trusted and valued member of the communities in which we operate.
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Seabridge holds a 100% interest in several North American gold projects. Seabridge’s principal assets, the KSM project, and its Iskut project located in British Columbia, Canada’s “Golden Triangle”, the Courageous Lake project is in Canada’s Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge’s mineral reserves and mineral resources by category please visit the Company’s website at http://www.seabridgegold.com.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
Marc-André Blanchard, chief of staff for Canadian prime minister Mark Carney. (Courtesy CDPQ)
Marc-André Blanchard, Canada’s former ambassador to the United Nations, has left Caisse de dépôt et placement du Québec (CDPQ) after five years as one of its senior executives to become chief of staff for Prime Minister Mark Carney.
Blanchard was named the executive vice-president and head of CDPQ global in September 2020, and added the title of global head of sustainability in February 2022.
At CDPQ Global, he led a government relations division formed to support CDPQ’s investment teams and partners worldwide. As the leader of the sustainability team, he guided CDPQ’s environmental initiatives.
A lawyer by trade, he worked at McCarthy Tetrault LLP from 1997 to 2016, serving as the regional managing partner of Quebec and climbing the ranks to become board chair and CEO.
Crown Realty Partners has announced that CEO and managing partner Les Miller plans to retire effective June 30, with several of the company’s senior executives stepping into expanded roles as he departs.
“It has been an honour to lead Crown Realty Partners. I am incredibly proud of what we have accomplished together, and I have complete confidence in Emily, Jamie, and Scott to lead Crown to even greater heights. I look forward to watching the company’s continued success from a new perspective,” Miller said in the company’s announcement.
No direct successor has been named. Rather, Toronto-based Crown states managing partners Emily Hanna, Jamie Christie and Scott Watson will continue to lead the organization.
Scott Rasmussen, who has spent virtually all of his 17-year career in various aspects of the life and health sciences real estate sector, has been named president of Toronto-based MedSpace Canada.
Rasmussen moves to MedSpace from Colliers, where he spent the past year as vice-president, sales representative within its Toronto life science and innovation practice.
His leadership experience includes senior roles at NorthWest Healthcare Properties and McMaster Innovation Park, as well as co-founder and co-chair of the Ontario Wet Lab Coalition.
Sandra Lau has been appointed to the AIMCo board of directors. (Courtesy AIMCo)
Alberta Investment Management Corporation (AIMCo) has appointed Sandra Lau to its board of directors for a three-year term. The board is being rebuilt after a management purge by the Alberta government last year.
Lau brings more than 25 years of expertise in investment and risk management, the majority of which she spent in progressively senior roles at AIMCo. Since joining the organization in 1999, she advanced to executive vice-president, fixed income, and later served as chief investment officer from 2022 until her retirement in mid-2023.
The Healthcare of Ontario Pension Plan (HOOPP) has hired Reena Carter as its chief financial officer, recruiting her from the Ontario Municipal Employees Retirement System (OMERS).
Carter had served as the senior managing director of portfolio management and operations with OMERS.
Toronto-based Atrium Mortgage Investment Corporation (AI-T) has named Gigi Wong as its chief financial officer, bringing in a seasoned financial operations leader to the provider of residential and commercial mortgages.
Wong was managing partner and CFO of Hazelview Investments from June 2016 to February 2025.
Nam Kular new managing broker at KIC Realty Alberta
KIC Realty Alberta in Calgary has appointed Nam Kular as its new managing broker. Kular brings with him over a decade of experience navigating Alberta’s housing market.
As managing broker, he will work alongside CEO and co-founder Willie Ip to oversee compliance, training, agent development, and day-to-day brokerage operations in Alberta.
Bridgemarq Real Estate Services Inc. (BRE-T) has hired Wallace Wang as its new chief financial officer, a position which will be effective July 1.
Wang joins Bridgemarq from Brookfield Asset Management. He is a Chartered Professional Accountant (CPA) and holds both a bachelor’s degree in mathematics and accounting and a master’s degree in accounting.
Snaile has announced the appointments of Nicholas (Nick) Thadaney, ICD.D, and Vikram Kapoor, CFA, to the Toronto-based firm’s strategic advisory board.
Thadaney, former CEO of the Toronto Stock Exchange (TSX) and group head of capital formation at TMX, brings expertise in capital markets, technology, corporate governance, and innovation leadership to the board.
Kapoor is a seasoned capital markets strategist and portfolio manager with experience from multiple companies in investment management, corporate finance and value creation.
EDITOR’S NOTE:This is the inaugural instalment of our new format for The People Space. We will publish the column as a biweekly compilation of items published in our People Space section during the preceding two weeks. This will allow for expanded coverage of appointments, hirings and other comings and goings within commercial real estate, development investment, property tech and related fields. Have an item you’d like to share in The People Space? Send us a release at … thankyou@squall.com
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