Canadian Mining Eye outperforms global indices in Q2: EY

Sources available to offer insight on Q2 2014 mining and metals results

TORONTO, Aug. 12, 2014 /CNW/ - Canadian mining equities continued to show improvement during Q2 2014, strengthened by an increase in metals prices, according to EY's latest Canadian Mining Eye.

The index gained 9% during Q2 2014 and outperformed the S&P/TSX Composite index, which gained 6%, and the London Metal Exchange index, which gained 7% during the second quarter.

"The second quarter proved mining equities are capable of sustainable improvement," says Bruce Sprague, EY's Canadian Mining & Metals Leader. "Overall, we anticipate the third quarter to continue to show positive trends with mixed expectation on metal prices."

The Canadian Mining Eye: Q2 2014 also digs into the following topics:

  • Mergers and acquisitions: though deal appetite remained subdued early in the second quarter, mining companies continue to view asset disposal both as a means of raising funds and prioritizing limited resources to core projects.

  • Spotlight on diamonds: polished diamond prices increased 4.5% in the first half of 2014 with further upside expected in the second half of the year as a result of increasing diamond prices, potential growth in demand, recent transactions and availability of financing.

The Canadian Mining Eye tracks Canadian mining sector performance of 100 TSX and TSXV mid-tier and junior companies with market capitalizations at the end, broadly falling between CDN$2.0b and CDN$100m.

EY's Canadian Mining & Metals team is available to offer insight into the report's findings.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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SOURCE: EY (Ernst & Young)

For further information: Erika Bennett,, 416 943 5497; Sarah Shields,, 604 648 3607; Julie Fournier,, 514 874 4308



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