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S&P/TSX Composite Index Sharply Lower Monday Morning as Mid-East Hostilities Resume

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The S&P/TSX Composite Index fell sharply Monday mid-morning, shedding 380 points as hostilities between the US and Iran resumed, and US Federal Reserve chair Kevin Warsh did not close the door on interest rate hikes to tackle sticky inflation.

The worst performer on last look was base metals, down 1.6%, followed by information technology, down 1.3%.

The energy sector, benefiting from higher oil prices, was up 1.6%, and the best performer, followed by the telecommunications sector, which was last seen edging up 0.5%.

What else is happening in Mining & Metals?

Mining & Metals

Tree Island Steel Says Chief Operating Officer Nancy Davies to Retire on Oct. 1. Chief Financial Officer Brian Liu to Replace Davies in The Role But Will Also Continue As CFO Until A Repl

$TSL.TO
Mining & Metals

B2Gold Reports Fatality at Philippines Gold Mine

B2Gold (BTO.TO) after trade Friday reported a fatality at its Masbate Gold Project in the Philippines.The employee was performing scheduled maintenance at the water treatment plant when a pipe burst, causing a fatal injury, the company said.The company said it has stopped work in the affected area and launched an investigation into the incident."Mining and processing activities continue uninterrupted. The company will provide additional information when appropriate," it added.

$BTO.TO
Mining & Metals

Energy Fuels Completes Australian Strategic Materials Deal to Expand Rare Earth Platform

Energy Fuels (EFR.TO) after trade Friday said it completed its acquisition of Australian Strategic Materials (ASM)."The acquisition of ASM marks a major milestone in Energy Fuels' long-term growth strategy to build an integrated mine-to-magnet rare earth platform," the company said.The deal adds ASM's operating Korean Metals Plant, giving Energy Fuels immediate metal and alloy production capacity. The plant currently produces 1,300 tonnes per year of neodymium-iron-boron alloy and is being expanded to 3,600 tonnes per year, with completion expected by the end of 2026, the company said.Along with Energy Fuels' heavy mineral sands projects in Brazil, Australia, and Madagascar, the ASM deal strengthens the company's position across mining, processing, oxides, metals, and alloys "creating a robust platform for its planned entry into permanent magnet production", it added.Following the transaction, ASM shares were delisted from the ASX, according to the statement.

$EFR.TO