ICI investment declines nationally in October
Statistics Canada reported this morning that total investment in building construction in Canada edged down 0.4 per cent to $15.2 billion in October, following a 1.5 per cent decrease in September. Investment in the non-residential sector fell for the fourth consecutive month in October, down 3.2 per cent to $4.4 billion in October, remaining below pre-COVID-19 levels.
Investment in commercial building construction accounted for the largest decline of the three components for the month, down 4.7 per cent to $2.5 billion. All provinces and territories were down, with the largest drop in Quebec (minus 13.4 per cent to $443 million). Over the first 10 months of 2020, Quebec has yet to issue a permit over $100 million for a commercial project.
A decline of 1.7 per cent was reported in industrial building construction investment in October. Institutional building construction investment reported a slight decline of 0.8 per cent, with the largest decreases seen in Quebec (minus 1.9 per cent), followed by Ontario (minus 1.2 per cent).
MCAC annual meeting set for Wednesday
Members of the Mechanical Contractors Association of Canada have been notified that their 2020 annual general meeting has been scheduled for Wednesday. The event will be held online starting at noon Eastern time, running to 1:30 p.m.
ICU buys Labrador uranium project
International Consolidated Uranium Inc. today announced it has received regulatory approval to acquire a 100 per cent interest in the Moran Lake Project located in the Central Mineral Belt of Labrador. CEO Philip Williams commented, “We believe the area, also home to Paladin Energy’s Michelin project, has the critical mass to one day support the development of a uranium mining operation, and the potential for IOCG (iron-oxide-copper-gold) discoveries could ultimately bring more interest.”
Ford to provide update on vaccine distribution
Ontario Premier Doug Ford will be joined at his daily briefing today by Minister of Health Christine Elliott, Solicitor General Sylvia Jones and General Rick Hillier (retired), chair of the COVID-19 Vaccine Distribution Task Force, to provide an update on the distribution of COVID-19 vaccines. The event will start at 1 p.m.
SNC-Lavalin donates to Montreal health care foundations
SNC-Lavalin announced today it will make a financial donation totalling $750,000 to two Montreal hospital foundations, the McGill University Health Centre (MUHC) and the Montreal Children’s Hospital Foundations. A gift of $500,000 to the MUHC Foundation will be used to support the Interprofessional Skills and Simulation Network, providing team-based clinical training. The $250,000 gift to the Montreal Children’s Hospital Foundation will provide funding for its Music Therapy Program.