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Toronto Stocks Decline with Global Markets; Kenorland, Barrick Up on Option to Buy Into Ontario Project

09/20/2021 | 12:14pm EDT

By Adriano Marchese

Shares in Canada were down sharply at midday, in step with the other major global markets in the session. Natural resources companies took the brunt of the declines in the session as the price of iron ore, used for steel production, fell. Bucking that trend, shares in Kenorland Minerals Ltd. and Barrick Gold Corp. rose after Barrick Gold signed an agreement for the option to acquire up to an 80% interest in Kenorland's project in Ontario.

At midday, Canada's S&P/TSX Composite Index was down 1.74% at 20133.79, while the blue-chip S&P/TSX 60 was down 1.67% at 1203.97.

Shares in Kenorland Minerals Ltd. were up 2.9% to C$0.76 after it said that it has signed an agreement giving Barrick Gold Corp. an option to acquire up to an 80% interest in the South Uchi project in Ontario. Barrick Gold shares were also higher by 0.5% to C$18.44.

Other market movers:

Cymat Technologies Ltd. shares rose 2.7% to C$0.76 after it said that it has received an order for two underbelly blast protection kits by an Asian military vehicle manufacturer to be used to complete final product testing by the vehicle manufacturer's customer.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

09-20-21 1213ET

Latest news "Markets"
Latest news "Markets"