- Wildfires in British Columbia have forced Canadian lumber mills to shut and reportedly have edged closer to Kinder Morgan 's (KMI -0.1%) Trans Mountain pipeline.
- KMI says it is “taking preventative measures to ensure the safety" of the pipeline, which carries 300K bbl/day of crude oil and refined fuels from neighboring Alberta to the Vancouver area for export to the U.S.
- Strand board producer Norbord (OSB -0.5%) says it has temporarily suspended production at its mill in central B.C., and West Fraser Timber (OTCPK:WFTBF) has shut down three locations in B.C.
- Among miners, Copper Mountain (OTCPK:CPPMF +4%) says its mine near Princeton, B.C., briefly lost power but is operating normally, Taseko Mines (TGB +2.5%) says its Gibraltar open-pit copper mine in B.C. continues to operate normally, and Teck Resources (TECK +2.7%) is "closely monitoring the situation" at its Highland Valley copper mine.
- Now read: Kinder Morgan's Operating Earnings Yield At 8.74% Crushes The S&P 500
Original article