HEADLINES
Sherritt to Sell Majority Stake to Gillon as It Looks to Tackle U.S. Sanction Risk
Sherritt International plans to sell control to Gillon Capital as it looks for a deal to avoid being caught up in the Trump administration's efforts to squeeze Cuba's regime.
The Canadian nickel and cobalt miner, which has ventures that tie it to Cuba, said it has reached a non-binding agreement to sell warrants for shares to Gillon.
The warrants would be exercisable for an up-to-55% stake in Sherritt at a price to be agreed by the pair for a period ending nine months from the closing date of the transaction. Sherritt said it expects that price would be at a discount to the closing price for its share on May 15, the day it had unveiled a since-cancelled plan to dissolve its Cuba ventures and cut ties with the island.
Keyera Teaming With CN, AltaGas to Strengthen Export Capacity From Canada's West Coast
Keyera will build a rail hub in Alberta's industrial heartland to transport propane and butane to export facilities on Canada's west coast in an effort to diversify its market reach and tap growing global demand.
The energy company is partnering with Canadian National Railway and energy-infrastructure company AltaGas on the project, which will combine its Alberta corridor export terminal with CN's rail network and AltaGas's export platform.
The terminal will be owned and built by Keyera on its lands in Alberta, and supported by long-term deals with the other two companies. Keyera said its initial investment will be about C$240 million, including about C$100 million on top of its already-disclosed spending guidance for 2026.
Wallbridge Mining Lines Up C$56 Million Investment From Agnico Eagle, Waratah Capital Advisors
Wallbridge Mining will receive a roughly C$56 million capital injection from gold producer Agnico Eagle and Waratah Capital Advisors that will help fund a prefeasibility study on its flagship Fenelon asset in Quebec's Abitibi region.
Agnico Eagle and Waratah will buy shares of the exploration company, giving each investor a roughly 19.9% stake.
Wallbridge said it next plans to seek approval from its shareholders for a 20-for-one share consolidation and a renaming of the company to Sunday Lake Gold.
Aya Gold & Silver Drilling Uncovers New Veins Supporting Morocco Mine Resource Growth
Aya Gold & Silver said it has intersected new precious-metal veins at its Moroccan mine, results the company said point to the potential for a larger deposit.
Shares rose 3.3% to C$23.37.
The miner said that recent drill results at the Boumadine Project confirm strong high-grade continuity along the main deposit and support the potential for continued resource growth and scale.
The results are part of the company's broader infill drill program at the mine, and Aya said that it will continue to focus its drilling on the main trend to extend known mineralizations.
Telus Targets Major Network Expansion in British Columbia
Telus is directing a significant share of its capital spending toward British Columbia, saying it will invest more than C$15 billion over the next five years to expand and upgrade its network infrastructure and operations in the province.
The Canadian telecom company said the plan includes extending its fiber and 5G networks, building AI-related infrastructure and improving connectivity for Indigenous and rural communities.
Telus says the spending forms part of its broader commitment to deploy C$66 billion across Canada by 2030.
Telus Outlines C$66 Billion Investment Program
Power Corp, Great-West Lifeco, IGM Financial Jointly Invest $150 Million in AI Fund
Power Corp. of Canada, Great-West Lifeco and IGM Financial are jointly investing $150 million into in a newly created fund called artificial intelligence-focused Sagard AI Fund LP.
The fund will back AI-driven companies that are accelerating the adoption of the technology across financial services and other key sectors globally.
The three companies said the investment is part of a broader strategy across the Power group to engage early with AI as a foundational technology.
NexGen Energy Appoints Ryan Podrasky as CFO
NexGen Energy has appointed Ryan Podrasky as chief financial officer, effective next week.
Podrasky succeeds Benjamin Salter who is stepping down from the role, the company said. Salter will continue to support the company in an advisory capacity to ensure a seamless transition.
The company said Podrasky brings more than 25 years of leadership experience in the mining and oil and gas spaces to the Canadian uranium exploration and development company.
Flint Appoints Mark Nelson as COO
Flint has appointed Mark Nelson as its next chief operating officer, effective at the start of June.
Shares rose 6.3% to C$1.70.
Nelson brings to the Canadian industrial services company over two decades of experience in the energy and industrial sectors, most recently at a major Canadian-based integrated energy company.
Nelson will take over the role starting on June 1, succeeding Neil Wotton, who retired from the role on May 19.
TALKING POINT
Canada Has 'Fallen Way Behind' on Port Logistics, Carney Says
By Paul Vieira
Canada needs to quickly improve the efficiency at its ports to achieve the goal of rebuilding economic resilience and reducing reliance on U.S.-bound exports to drive growth, according to Prime Minister Mark Carney.
"We have fallen way behind in terms of the productivity of our ports and our trade corridors," said Carney, during a question-and-answer session Wednesday at an event in Vancouver, British Columbia, home to Canada's biggest port.
At present, the prime minister said, it takes much too long for goods that land at the country's ports to make their way to other parts of the country.
"That's partly port capacity; it's partly . . . rail interconnections. It is a variety of factors that are there, and we're looking to tackle all of those in a comprehensive way," Carney said.
The prime minister's message at the event hosted by the Greater Vancouver Board of Trade builds upon earlier warnings from the Bank of Canada. The lack of capacity at the country's 17 main marine terminals has threatened to thwart trade-diversification efforts and make life costlier for Canadians, the central bank has said in both published research and public remarks from Gov. Tiff Macklem.
Prior to 2025, over three-quarters of all Canadian exports were U.S.-bound, and about 20% of the country's economic output was linked to U.S.-Canada trade. Due to President Trump's sharp pivot on trade policy, Carney's main policy priority since coming to power last year has been on building new trade corridors, or refurbishing existing ones, to help Canada sell more goods to markets other than the U.S.
Carney has set a goal of doubling by 2035 the value of non-U.S. exports, or roughly $220 billion in new orders for Canadian commodities, goods and services.
If Canada's trade corridors aren't improved, "it is going to be very hard for us to become materially more independent, more resilient as a country," he said. "So it is a big, big priority," he added.
Carney's government has deemed certain infrastructure projects, such as an expanded Port of Montreal, as national-building priorities. As a result, those projects get federal support on financing and clearing regulatory hurdles.
Another corridor that Carney might back is a proposed new pipeline connecting the Alberta energy patch with British Columbia's Pacific Coast. Carney and the province of Alberta signed a deal last week that sets the stage for federal backing of such a pipeline, which Alberta envisages carrying one-million barrels of crude day to a Pacific coast port, bound for tankers headed to faster-growing Asian markets.
At the Vancouver event Wednesday, Carney reiterated that federal backing requires three conditions: the building of a major carbon-capture and storage project, consultations with affected indigenous groups and fair compensation for British Columbia for allowing the pipeline through the province. Some indigenous groups have voiced opposition to the energy corridor, as has British Columbia Premier David Eby.
Write to Paul Vieira at [paul.vieira@wsj.com]
Expected Major Events for Thursday
00:30/JPN: May Japan Flash Manufacturing PMI
07:15/FRA: May France Flash PMI
07:30/GER: May Germany Flash PMI
08:30/UK: 1Q Mortgage and landlord possession statistics
08:30/UK: May Flash UK PMI
09:00/ITA: Mar Balance of Payments
10:00/UK: May CBI Industrial Trends Survey
10:00/FRA: 1Q OECD Quarterly National Accounts: GDP growth
12:30/US: May Philadelphia Fed Business Outlook Survey
12:30/US: Apr New Residential Construction - Housing Starts and Building Permits
12:30/US: 05/16 Unemployment Insurance Weekly Claims Report - Initial Claims
12:30/US: U.S. Weekly Export Sales
13:00/RUS: Weekly International Reserves
13:45/US: May US Flash Manufacturing PMI
13:45/US: May US Flash Services PMI
14:00/US: 1Q Advance Quarterly Services
14:30/US: 05/15 EIA Weekly Natural Gas Storage Report
15:00/US: May Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
20:30/US: Federal Discount Window Borrowings
20:30/US: Foreign Central Bank Holdings
23:01/UK: May UK Consumer Confidence Survey
23:30/JPN: Mar Final Labour Survey - Earnings, Employment & Hours Worked
23:30/JPN: Apr CPI (Nation), CPI ex-food (Nation)
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Thursday
Advance Auto Parts Inc (AAP) is expected to report $0.41 for 1Q.
Advanced Drainage Systems Inc (WMS) is expected to report $0.93 for 4Q.
Atlantic International Corp $(ATLN)$ is expected to report for 1Q.
Barnwell Industries Inc (BRN) is expected to report for 2Q.
Bright Minds Biosciences Inc (DRUG.L) is expected to report for 2Q.
CAE Inc (CAE,CAE.T) is expected to report $0.43 for 4Q.
Cato Corp - A Share $(CATO)$ is expected to report for 1Q.
Cavco Industries Inc $(CVCO)$ is expected to report $5.26 for 4Q.
Copart Inc $(CPRT)$ is expected to report $0.41 for 3Q.
Deckers Outdoor Corp (DECK) is expected to report $0.84 for 4Q.
Deere & Co (DE) is expected to report $5.78 for 2Q.
Flowers Foods Inc $(FLO)$ is expected to report $0.25 for 1Q.
Hamilton Lane Inc (HLNE) is expected to report $1.37 for 4Q.
Hovnanian Enterprises Inc - Class A $(HOV)$ is expected to report $-2.04 for 2Q.
Hub Group Inc - Class A (HUBG) is expected to report $0.17 for 1Q.
Lightspeed Commerce Inc (LSPD.T) is expected to report $-0.21 for 4Q.
Lionsgate Studios Corp (LION) is expected to report for 4Q.
NetEase Inc - ADR (K3MD.SG,NTES) is expected to report $3.13 for 1Q.
Newcore Gold Ltd (NCAU.V) is expected to report for 1Q.
Ralph Lauren Corp - A Share $(RL)$ is expected to report $2.54 for 4Q.
Replimune Group Inc $(REPL)$ is expected to report $-0.60 for 4Q.
Ross Stores Inc $(ROST)$ is expected to report $1.72 for 1Q.
Shoe Carnival Inc (SCVL) is expected to report $0.92 for 1Q.
Take-Two Interactive Software Inc (TTWO) is expected to report $-0.56 for 4Q.
Walmart Inc $(WMT)$ is expected to report $0.65 for 1Q.
Webco Industries Inc $(WEBC)$ is expected to report for 3Q.
Williams-Sonoma Inc (WSM) is expected to report $1.80 for 1Q.
Workday Inc (WDAY) is expected to report $1.02 for 1Q.
Zoom Communications Inc (ZM) is expected to report $0.81 for 1Q.
ePlus Inc $(PLUS)$ is expected to report $0.81 for 4Q.
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(END) Dow Jones Newswires
May 20, 2026 16:30 ET (20:30 GMT)
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