BEFORE THE BELL: Trudeau government committed to putting Trans Mountain pipeline back in private hands
Finance Minister Bill Morneau says the government remains committed to putting the Trans Mountain pipeline and its proposed expansion back in private hands.
The Trudeau government bought the project from Kinder Morgan for 4.5-billion dollars.
Morneau unveiled four principles for including Indigenous groups in those discussions in a speech in Calgary.
However, he says timing and details of the sale of the pipeline depend on when it is “de-risked” and therefore can’t be determined until current consultations with affected Indigenous groups are completed.
On the markets, after heavy losses on Friday, the TSX shed another 23 points to close Monday.
Oil fell twenty-two cents to $58.82 U.S. a barrel.
Gold proved popular, jumping .8 per cent to $1,322, its highest close since February 26th.
The loonie crept up 14/100ths of a cent to $0.7461 U.S.