Project delays, mine shutdowns and cutbacks

A chronological summary of project delays, mine shutdowns and production cutbacks announced by miners around the world in response the falling metals prices and tightening financial markets. Begins July 2008.

Petro-Canada, Teck, UTS defer decision on Fort Hills project

The owners of the Fort Hills oil sands project, in Northern Alberta, Canada, will delay making a final investment decision on the mine until market conditions stabilise, the companies said on Monday. Petro-Canada owns a 60% stake in the project,...

Teck tightens purse strings, may sell assets

Diversified-miner Teck Cominco plans to reduce sustaining capital and exploration spending, and will consider selling assets, as it adjusts to slumping metals prices and seeks to pay down debt. The company has arranged for $9,8-billion in debt to...

Centurion pump fabricator secures promising oil-sands contract

Pretoria-based Hazleton Pumps has enjoyed a number of triumphs over the past few years, a pattern of success that has been particularly underscored by the company’s making promising inroads into the Canadian mining industry with its Hippo...