News Archives

: Category: News Archives; Created: 23 April 2020; Hits: 522

April 23, 20 by John Jeffay

(IDEX Online) Canada's troubled Dominion Diamond Mines has been granted insolvency protection, a month after closing its Ekati mine to prevent the spread of coronavirus.

The Calgary-based company is speaking to lenders, creditors, equity owner and other stakeholders to "solicit and evaluate strategic alternatives to restructure the company financially and operationally."

It filed for insolvency protection under the Companies' Creditors Arrangement Act at the Queen's Bench Court in Alberta.

Earlier this month its Fitch Rating was reduced to Triple C, which is a junk bond status.

It has 1,800 employees at Ekati, in a remote location 300km north east of Yellowknife in Northwest Territories and has a 40 per cent holding in another Canadian mine, Diavik....

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: Category: News Archives; Created: 23 April 2020; Hits: 482

U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced.

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: Category: News Archives; Created: 22 April 2020; Hits: 507

Could the current crisis in the oil markets lead to war? Join Mike Maloney as he presents data that shows the true extent of the massive body blow received by US oil industry. There’s also a long segment where Mike answers your questions….and for the first time, an ‘Absurdity of the Day’. Enjoy the video.

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: Category: News Archives; Created: 22 April 2020; Hits: 468

“Three times deeper than the Great Recession?”

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: Category: News Archives; Created: 22 April 2020; Hits: 459

But look beneath the surface, some economists say, and the CBO’s calculations are not that comforting. Why? Because they suggest the government may not be providing the economy with all the support it might need to survive the coronavirus shock relatively intact.

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Diamond News Archives

Dominion Diamond Mines Granted Insolvency Protection

Bankruptcy Looms Over U.S. Energy Industry, From Oil Fields to Pipelines

COULD THE OIL CRISIS MEAN WAR? - Special Report from Mike Maloney

How Far Will the U.S. Economy Plunge During Lockdown?

Good Budget News on U.S. Relief Package May Be Bad News for Economy