Iamgold Expands, Teck Nears Merger, Wealthsimple Hits $100B

Iamgold announces deals to acquire Northern Superior Resources and Mines D’Or Orbec

Iamgold Corp. (TSX:IMG) has unveiled two transactions aimed at consolidating its land position in Quebec’s Chibougamau region near the Nelligan and Monster Lake projects. The company has agreed to purchase Northern Superior Resources Inc. in a combined stock-and-cash transaction valued at roughly $375 million.

Under the terms, Northern Superior shareholders will receive 0.0991 of an Iamgold share plus $0.19 in cash for each Northern Superior common share. Based on Iamgold’s closing share price on the Toronto Stock Exchange on Oct. 17, this offer values Northern Superior at about $2.05 per share. The transaction also includes a concurrent distribution to Northern Superior shareholders of all ONGold Resources Ltd. shares currently held by Northern Superior.

In a separate agreement, Iamgold will acquire Mines D’Or Orbec Inc. for approximately $17.2 million net of the 6.7% stake Iamgold already owns in Orbec. Holders of Orbec shares will receive $0.0625 in cash and 0.003466 of an Iamgold share per Orbec share, valuing each share at roughly $0.125 under the deal structure.

Teck Resources ‘very pleased’ with progress of talks with regulators on Anglo deal

Teck Resources’ CEO said the company is encouraged by ongoing, constructive discussions with Canadian regulators as it seeks approval for a planned merger with U.K.-based Anglo American. While the federal industry minister has asked for stronger long-term commitments to Canada, Teck described regulatory talks as frequent and productive.

CEO Jonathan Price emphasized that Teck and Anglo have proposed a detailed package of commitments, including plans to locate the combined group’s headquarters in Vancouver. The companies say the merger would create an approximately $70-billion copper-focused business, with senior executives and the corporate base in Vancouver. Shareholders are expected to vote on the transaction in December, while the companies continue to complete antitrust and regulatory filings worldwide.

Teck reported a return to profitability in its third quarter, with earnings from continuing operations attributable to shareholders of $281 million, or $0.57 per diluted share, compared with a loss of $748 million, or $1.45 per diluted share, a year earlier. Adjusted earnings were $0.76 per diluted share, up from $0.60 a year earlier. Revenue for the quarter rose to $3.39 billion from $2.86 billion.

The company also noted ongoing operational constraints at the Quebrada Blanca mine in Chile, where development of a tailings management facility has required planned downtime at the concentrator.

Mullen Group Q3 profit down from year ago as acquisitions boost revenue

Mullen Group Ltd., the Calgary-based trucking and logistics operator, posted a year-over-year decline in quarterly profit despite higher revenue driven by recent acquisitions. For the quarter ended Sept. 30, the company recorded net income of $33.2 million, or $0.36 per diluted share, down from $38.3 million, or $0.41 per diluted share, in the comparable quarter a year earlier.

Revenue rose to $561.8 million from $532.0 million, reflecting the contribution of acquired businesses including Cole International Inc. and Pacific Northwest Moving (Yukon) Ltd. On an adjusted basis, Mullen reported earnings of $0.38 per share, compared with adjusted earnings of $0.41 per share in the same period last year.

Wealthsimple says assets top $100 billion under administration

Wealthsimple Inc. announced that its assets under administration have reached $100 billion, a milestone the privately held fintech had initially targeted for 2028. The company says its assets have roughly doubled over the past year as it continues to refine product offerings and expand its services.

Wealthsimple also highlighted recent product updates: it removed contract fees to enable truly zero-commission options trading, introduced direct indexing portfolios that support tax-loss harvesting, and made adjustments to its crypto and gold trading services. The platform says it will soon add Wealthsimple-branded gold coins, a new private-market portfolio option, and more advanced options strategies.

Founded in 2014, Wealthsimple reports serving more than three million Canadians. Power Corp. of Canada and related entities hold a controlling stake in the company.

West Fraser Timber reports Q3 net loss of US$204M amid challenging backdrop

West Fraser Timber Co. Ltd. reported a third-quarter net loss of US$204 million, compared with a US$83 million loss in the same period a year earlier. The company said this equates to a loss of US$2.63 per diluted share, up from a loss of US$1.03 per diluted share the prior year.

Sales for the quarter were US$1.3 billion, down from US$1.43 billion in the prior-year quarter. On an adjusted basis, before certain deductions, West Fraser recorded a loss of US$144 million versus an adjusted loss of US$62 million a year earlier.

CEO Sean McLaren attributed the results to an increasingly difficult market environment for wood building products, driven by lower housing affordability and supply-demand imbalances. He also pointed to recent U.S. tariffs on Canadian softwood lumber—implemented under Section 232 of the Trade Expansion Act—as an added headwind for the business.

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