Gold, mining company stocks down in premarket rout August 9, 2021 August 9, 2021 admin

A mining company that was among the biggest beneficiaries of a government ban on foreign ownership in Canada’s oil and gas industry has seen its stock price plummet after reports that it has been fined $1.7 million for failing to report a third of its drilling activity.

In a market that’s often dominated by foreign-owned companies, Royal Dutch Shell Canada Ltd.

is the only company to fall in the wake of the government’s decision to ban all foreign ownership of energy companies in the country.

The fine for Shell, one of the biggest foreign holders of Canadian oil and natural gas assets, was announced Wednesday by the Public Service Commission, the Canadian government agency that regulates companies that own Canadian assets.

The fines come as oil and mineral companies are scrambling to cope with the sharp declines in crude oil prices.

The company has been hit hard by a slump in global oil prices, which have dropped more than 20% since late June.

In June, Shell’s shares dropped 4.9% in the premarket, wiping $1 billion off the value of the company’s common stock.

On Wednesday, the company issued a statement saying it was in compliance with the law and that it was looking forward to the appeal process.

The statement said that “Shell has consistently and aggressively maintained a strong record of transparency and accountability with respect to our compliance with government regulations and other requirements in the past.”

The company’s stock fell as much as 5% to $62.35 after the news broke.

On Thursday, the stock fell more than 8% to a low of $54.77, the lowest level in about two weeks.

It was down more than 10% for the day.

Royal Dutch was one of Canada’s top energy companies when it was founded in 1964 and became a major player in the oil and minerals sector in the late 1990s.

It is now one of three major oil and mining companies in Canada, along with Enbridge and TransCanada.

Its share price has been plummeting since June, when the government said it would require all oil and miner companies in Alberta to report every day whether they were selling crude oil or mining gas.

The ban, which came into effect last summer, is one of a number of measures being taken to deal with the drop in crude prices.

Last week, the Alberta government introduced a moratorium on oil and coal exports, limiting companies to selling to domestic customers and prohibiting foreign ownership.