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58-487: The Old Franco-Nevada was a publicly listed company on the Toronto Stock Exchange from 1983 to 2002. In 1986, Old Franco-Nevada made its first royalty acquisition, and acquired or created additional royalties and resource investments from 1986 to 2002. Following several royalty acquisitions in the 1980s and 1990s, Old Franco-Nevada sold its only mining property to Normandy Mining in exchange for 19.9% of

116-876: A 26% stake in this joint venture, and later increased its stake to 49%. The company received awards such as the Bhartiya Shiromani Puraskar in 2006 and the Silver award in the Insurance category at the ICAI Awards for Excellence in Financial Reporting in 2009. In 2011, ABSLI introduced the BSLI Foresight Plan, followed by the BSLI Wealth Secure Life Plan in 2012. In June 2023, ABSLI launched

174-570: A 34 year life. In August 2018, Franco-Nevada and Continental Resources entered into a strategic relationship to jointly acquire royalty rights in the SCOOP and STACK oil and gas plays of Oklahoma . Franco-Nevada committed $ 520 million to the venture to be invested through 2021. The venture was established to acquire royalty rights at the grass-roots level in areas primarily within acreage operated by Continental. In April 2021, Franco-Nevada acquired 57 million Royalty Debentures for $ 538 million from

232-458: A deal richer than Anglo's offer, and ultimately valuing Franco-Nevada at $ 2.5 billion. In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and a small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange raising CA$ 1.1 billion which helped fund the US$ 1.2 billion acquisition of

290-454: A follow-on offering. The company made its first royalty investment in 1986, spending half the corporate treasury ($ 2 million) to acquire 4% of revenues from a mine in Nevada owned by Western States Minerals, later called Goldstrike mine . Franco-Nevada assumed that known reserves would allow the royalty to pay for itself regardless of additional exploration results. Barrick Gold Corp. acquired

348-587: A further US$ 327 million to expand Cobre Panama’s throughput from 85 Mtpa to 100 Mtpa starting in 2023. In January 2022, negotiations between the Government of Panama and First Quantum Minerals started to define a new contract concerning the Cobre Panama mine. First Quantums subsidiary Minera Panamá S. A. made proposals favorable to the Government of Panamá including yearly payments of US$ 375 million in tax and royalty revenue. These payments were offered under

406-592: A gold and silver stream on the Candelaria mine. At the time, the mine had reserves supporting a 14 year mine life. Lundin Mining had great exploration success expanding the underground extensions of the orebody and in its reserve update in September 2020 stated reserves supporting a 25 year mine life. In October 2015, Franco-Nevada agreed to pay Teck Resources US$ 610 million for a stream on Teck’s 22.5% share of

464-641: A joint venture between the Aditya Birla Group and Sun Life since 1999. With more than $ 34 billion U.S. in assets under management as of 2017, Aditya Birla Sun Life Asset Management Company is one of the largest asset managers in India. Aditya Birla Sun Life Insurance was established on August 4, 2000, and began operations in 2001 with three insurance plans. The Insurance Regulatory and Development Authority (IRDA) granted registration in principle to Birla Sun Life. Initially, Sun Life Financial held

522-692: A market value of $ 3.5 billion at the time. In April 2001, Franco-Nevada sold the Nevada Midas mine (previously named the Ken Snyder mine ), its only wholly owned mine, to Normandy Mining in exchange for 20% of Normandy and a five-percent royalty on the mine. That September, Anglo Gold made a bid for Normandy at a valuation 60% greater than Franco-Nevada's acquisition cost. Seeing the potential to take advantage of Newmont's rivalry with Anglo, Schulich and Lassonde approached Newmont Mining Corporation to discuss purchasing Franco-Nevada and Normandy, striking

580-424: A number of years for a total investment of C$ 93 million. The mines associated with both investments produce high grade Iron ore products that allow steelmakers to reduce CO 2 and other emissions from their operations. In May 2020, after more than twelve years in the role, Pierre Lassonde stepped down as Chair of Franco-Nevada, taking the role of Chair Emeritus. David Harquail, who had been President and CEO since

638-609: A portfolio of royalties from Newmont. The listing was one of the largest in Canadian history, second only to the 2000 Sun Life IPO, and the largest mining IPO in North American History. In August 2012, Franco-Nevada partnered with Inmet Mining to invest $ 1 billion in various metal streams from the Cobre Panama Copper Project . In 2013, First Quantum Minerals took over Inmet Mining. At

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696-602: A property at University Avenue and King Street in downtown Toronto and constructed a new office complex, the Sun Life Centre , which was completed in 1984. For the largest employer of English-speaking people in Montreal, this would make things very difficult. Many, if not most, of Sun Life's Head Office employees in 1979 were not fluent in French. Sun Life was quite clear that this was the reason for its move when it made

754-595: A range of institutional alternative asset class funds to investors in Canada. In June 2019, Sun Life re-branded SLIM to SLC Management and fully merged its fixed income businesses, Ryan Labs Asset Management Inc. and Prime Advisors, Inc. with Sun Life Capital Management (U.S.) In addition, in July 2019, SLC's real estate division was merged under the name BentallGreenOak Real Estate. Sun Life operates in eight Asian markets - Indonesia, Singapore, Vietnam, China, Hong Kong, India,

812-562: A significant ownership interest in the firm by selling its Canadian mutual fund subsidiaries to CI Financial in 2002. In addition, in July 2019, SLC's real estate division was merged under the name BentallGreenOak Real Estate. In December 2020, Dean Connor announced his intent to retire as President and CEO in August 2021. He was then replaced by Kevin Strain, who was the former Chief Financial Officer at Sun Life. Sun Life contributes to

870-429: A total of $ 1.356 billion funding commitment of the more than $ 6 billion capital cost for the project. In June 2019, Cobre Panama started shipping ore concentrate. An announcement of a Panamanian Supreme Court ruling in connection to the constitutionality of Law 9 of 1997 is raising questions concerning Minera Panama S. A.. , the holder of the Cobre Panama concession. In April 2019, First Quantum indicated its plan to invest

928-661: Is a Canadian financial services company. It is primarily known as a life insurance company. Sun Life has a presence in investment management with over CAD $ 1.3 trillion in assets under management operating in a number of countries. Sun Life ranks number 235 on the Forbes Global 2000 list for 2022. Founded in Montreal , Quebec , as The Sun Insurance Company of Montreal in 1865 by Matthew Hamilton Gault (1822–1887), an Irish immigrant who settled in Montreal in 1842. However, operations actually began in 1871. By

986-981: Is done in the main Montreal office. There are also offices in Toronto, Vancouver, Halifax and Ottawa. Sun Life U.S. has the sixth-largest group benefits business in the United States and serves more than 60,000 employers in small, medium and large workplaces. In 2018, Sun Life U.S. was named one of the Top Places to Work in Massachusetts for 2018 by The Boston Globe . Sun Life's asset management operation includes subsidiaries: As of March 31, 2019, SLC Management's collective operations have assets under management of C$ 212 billion (US$ 159 billion). SLC Management, formerly Sun Life Investment Management (SLIM), began in 2014 when Sun Life created Sun Life Institutional Investments (Canada) Inc., to offer

1044-563: The Antamina mine (Peru). Franco-Nevada has also continued to add to its oil and gas royalty interests, particularly in the major US oil and gas fracking basins. Franco-Nevada initially began trading as a public gold exploration company in 1983 and was led by executives Seymour Schulich and Pierre Lassonde . At the time, oil and gas royalty ownership—but not gold royalty ownership—was an established business strategy. In 1985 Franco-Nevada raised $ 930,000 to purchase gold royalties in

1102-594: The Australian Securities and Investments Commission , which demanded a termination of the offer on 23 March 1999. Gutnick and Crespigny were found to have illegally structured a takeover of the company and Gutnick was ordered to return $ 28.5 million to investors. The court found that their behaviour in jointly bidding $ 450 million earlier that year for Great Central Mines was unlawful and deceptive. Both Gutnick and Crespigny had shareholdings in GMC before this bid

1160-658: The Brazilian Development Bank and the Federal government of Brazil , representing 14.7% of the total issued Royalty Debentures. The Royalty Debentures provide holders with life of mine net sales royalties on Vale's Northern Iron Ore system, Southeastern Iron Ore system and on certain copper and gold operations. Franco-Nevada also accumulated a 9.9% equity investment in Labrador Iron Ore Royalty Corporation, acquired over

1218-587: The China Everbright Group to form Sun Life Everbright. In 2002, Sun Life Everbright was granted approval to sell life insurance in Tianjin, China, becoming the first foreign life insurance joint venture to operate in that city and its neighbouring counties. In 2011, Sun Life Everbright received regulatory approval in China to establish Sun Life Everbright Insurance Asset Management Company, only

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1276-565: The Northern Territory and Queensland with approximately 15% each. International gold production contributed for less than 10% of the overall company production. Normandy Mining started its existence under the name of Northwest Tantalum NL , changing it to Amad NL on 12 August 1966. Amad NL became Normandy Resources NL on 12 December 1985 and was listed on the Australian Securities Exchange under

1334-485: The $ 84 million project was completed and first gold was produced in December 1998. Seymour Schulich and Pierre Lassonde created a sister company to Franco-Nevada, named Euro-Nevada . Euro-Nevada had a gold-only focus while Franco-Nevada was more diversified. In June 1999, they merged Franco-Nevada and Euro-Nevada to increase liquidity and financial capacity and improve clarity for shareholders. The combined companies had

1392-522: The 12th such license issued in China. Sun Life started operating in Hong Kong since February 22, 1892. There was a name change from SunLife Financial (HK) Ltd to Sun Life Hong Kong Ltd. Sun Life acquired CMG Asia ComServe Financial from Commonwealth Bank of Australia in 2005. For some years, it had taken over the MPF schemes from a number of other competitors in 2010s due to its strong performance of

1450-518: The 1970 Poseidon bubble , with the company now changing its name to Normandy Poseidon Limited and Poseidon being delisted from the Australian stock exchange on 8 May 1991. In October 1996, Normandy took over Posgold Limited. In early 1999, Normandy made an offer for Great Central Mines , a company led by the ordained Rabbi Joseph Gutnick , through Yandal Gold , a company it owned a 49.9% interest in. This offer came under investigation from

1508-703: The 2007 IPO, was appointed Chair and Paul Brink as President and CEO. Normandy Mining Normandy Mining was an Australian mining company which predominantly mined gold . Normandy was, during much of the late 20th century, Australia's largest gold miner. Normandy ceased to exist when it was taken over by the Newmont Mining Corporation in February 2002, and became Newmont Asia Pacific instead. The company produced gold mainly from its Western Australian mines, which, in 1998, provided approximately 50% of its production, followed by

1566-526: The English-speaking minority should be respected. The new government also promised a referendum on Quebec sovereignty, injecting instability into the Montreal business community. On January 6, 1978, Sun Life became the first large company to leave Quebec post-election, announcing that it would move its head office to rented space in Toronto, Ontario . Officially, Sun Life said it was motivated by

1624-813: The Goldstrike property in 1986 and started production in 1987. The Goldstrike deposit is the largest Carlin-style deposit discovered globally and up until 2018, the mine had produced 44 Moz of gold. In 1988 Franco-Nevada purchased a royalty on the Castle Mountain mine in California . Despite the Castle Mountain mine being unsuccessful, losing money and eventually closing, Franco-Nevada collected triple its investment of $ 2.8 million. Franco-Nevada further went on to purchase royalties in various other commodities, but continued its focus on gold. In

1682-680: The Hong Kong equity fund. For example, in 2016, Schroder Investment Management (Hong Kong) Limited transferred its MPF scheme to Sun Life Hong Kong. Birla Sun Life Asset Management , now known as the Aditya Birla Sun Life Mutual Fund (ABSLAMC), is an investment managing company registered under the Securities and Exchange Board of India . It is a joint venture between Sun Life and the Aditya Birla Group of India . Established in 1994, BSLAMC has been

1740-778: The Insurance Commission's 2023 report ranked Sun Life of Canada (Philippines), Inc. number 1 with P306.33 billion total assets and P8.79 billion net income. Hence, on its 129th anniversary, headed by CEO and Benedict Sison, it remained the top life insurance company for 13 consecutive years with P55.79 billion in Total Premium Income. Prudential plc Pru Life UK, however, later became top life insurance seller in 2023, and bested Sun Life of Canada Philippines by P472 million. In March 2021, Sun Life announced new sustainable investing commitments, including an additional C$ 20 billion in sustainable investments over

1798-693: The Nishchit Pension Plan, aimed at assisting individuals in retirement planning. In August 2023, ABSLI announced the ABSLI Nishchit Laabh Plan, a non-linked, non-participating individual life insurance savings plan. Sun Life entered the Philippines in 1895, and established its Cebu operations in the 1960s. As of 2019, Sun Life is the number one provider of insurance products to Filipinos. Sun Life has been in Asia since

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1856-563: The Panamanian congress approved the controversial bill 1100 approving the refreshed concession contract in its third debate, which has led to multiple protests in the country. These protests led to a moratorium on metallic mining throughout the country, "for an indefinite term", through Bill 1110, excluding already granted concessions and approved with 59 votes in favor by the National Assembly (AN), on November 3, 2023. However,

1914-561: The Philippines and Malaysia. In 1891, the company persuaded businessman Ira Thayer to go to Asia to start an insurance business. Thayer set up a business in China in 1892 that went on to prosper for the next 54 years. Sun Life grew to become the biggest foreign insurer in China until the Second World War when it shut down operations. The company returned to China in 1995 via a joint venture. In 1995, Sun Life joined with

1972-626: The announcement. The PQ government was quick to label Sun Life "bad corporate citizens" and claimed that if "they had only warned us, we could have worked something out." The downsizing of Sun Life's Montreal office did not take place overnight. Transfers and moves occurred on a departmental basis and did not commence until several months after the announcement. By 1980, 300 head office employees were located in Toronto. In 2008, Sun Life sold its 37% interest in CI Financial Income Fund to Scotiabank . Sun Life had originally acquired

2030-521: The building. In 1977, the newly-elected sovereigntist Quebec government passed the Charter of the French Language (known as Bill 101), making the use of French language mandatory for medium- and large-scale companies when communicating with French-speaking staff. The law was received negatively by the English-speaking business community, many of whom perceived that the historical rights of

2088-559: The code NDR. The company changed its name once more on 9 May 1991, to Normandy Poseidon Limited , and was then listed under the code NPL. The last name change occurred on 20 June 1995, to Normandy Mining Limited , under the stock code of NDY. The stock was delisted in 2002. The company was also listed on the Toronto Stock Exchange and the Montreal Exchange . On 1 July 1981, Robert Champion de Crespigny

2146-645: The company sold its first group life plan in the U.S. in 1924. In World War II , as part of Operation Fish , securities from the United Kingdom were secretly moved to the Sun Life Building for safekeeping. A persistent, but incorrect, rumour is that the Crown Jewels of the United Kingdom had been illegally shipped out of the United Kingdom during WWII and stored there was deliberately spread in Montreal to account for increased activity at

2204-492: The company's shares. In 2002, Newmont acquired 100% of Franco-Nevada as part of a three-way combination of Newmont, Normandy and Old Franco-Nevada. Newmont maintained Franco-Nevada as a royalty holding division, transferring numerous other royalties to it over the five-year period following the acquisition, building its portfolio of royalties to include investments in almost 300 royalties (two-thirds in base and precious metal miners, and one-third in oil and natural gas ) at

2262-474: The conditions that metal prices and profitability of this mine would not drop significantly. However, the Government of Panamá halted discussions in December 2022 and announced plans to order suspension of operations at this mine. After a closure of the mine during two weeks, operations resumed and the terms and conditions of a refreshed concession contract between Minera Panamá S. A. and the Government of Panama have been announced on March 8, 2023. In October 2023,

2320-538: The constitutionality of the already approved new concession between the Government of Panana and Minera Panamá S. A. was questioned, leading to more uncertainty. In October 2014, Lundin Mining agreed to acquire an 80% interest in the Candelaria mining complex in the Atacama Region of Chile from Freeport-McMoRan for $ 1.8 billion. To help fund the acquisition cost, Franco-Nevada paid $ 648 million to acquire

2378-643: The early 1890s. In 1895, Sun Life began its operations in the Philippines through the representation of the H.J. Andrews and Co., a British trading firm. Throughout the Philippine Revolution, Sun Life Philippines experienced continuous growth. Sun Life had underground operations during the Japanese Occupation which occurred between 1942 and 1945. Sun Life was the only life insurance company who paid post-war death claims amounting to USD 1.3 million even without documents attesting to

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2436-598: The early 1990s, consulting geologist Ken Snyder convinced the management of Franco-Nevada to stake a play at the intersection of the Carlin and Getchell trends in Nevada, leading to the high-grade gold and silver discovery of what became the Ken Snyder Mine . Franco-Nevada concluded that the mine had a high enough silver credit to carry all operating costs, thereby creating an effective 100% gold royalty . Construction of

2494-490: The end of January 2018, the subsidiary Franco-Nevada (Barbados) acquired an additional precious metals stream on Korea Resources Corporation’s interest in Cobre Panama and provided a second tranche of funding to First Quantum to assist it with acquiring a further 10% interest in the project. After this transaction, FNB has precious metal stream interests covering 100% of the ownership of Cobre Panama. FNB has funded

2552-526: The end of the 19th century, it had expanded to Central and South America, the United States , the United Kingdom , West Indies , Japan , China , Philippines , India , North Africa and other international markets. During the next five decades, the company grew and prospered, surviving the difficulties of World War I and the large drain on its finances through policy claims arising from

2610-544: The large number of deaths caused by the Great Flu Epidemic of 1918. The company's original Dominion Square building in Montreal was built in 1918. Capping a Montreal construction boom that began in the 1920s, the company completed construction of the expansion of its headquarters with its new 26-story headquarters north tower in 1933. Although the head office of the Royal Bank of Canada on St. James Street

2668-517: The local economy as one of the top 5 major employers in the region, with approximately 3,500 employees – more than 40% of Sun Life's employee base in Canada. In 2012, Sun Life celebrated the 100th anniversary of its Canadian head office building, located on King Street, right on the border of the Cities of Kitchener and Waterloo. The English headquarters is in Waterloo, and most of the French business

2726-407: The next five years across its General Account and third party investments. The company is also pushing to scale back its GHG emissions intensity by 30% by 2030. Sun Life committed to having 25% of under-represented minorities and gender parity at senior leader level by 2025. Sun Life Global Headquarters in Toronto , Ontario , is located at One York Street in Toronto's South Core. The building

2784-411: The political instability and economic uncertainty of Quebec's future, but skeptics said it was the company's unwillingness to comply with the requirements of Bill 101. In a reaction the next day, the province's finance minister Jacques Parizeau called Sun Life "one of the worst exporters of Quebec capital", and threatened to freeze some $ 400 million CAD in assets. In 1979, the company acquired

2842-616: The silver production on the giant Antamina mine in Peru. Teck owns its stake in Antamina along with BHP , Glencore and Mitsubishi Corp. Antamina is the world’s eighth-largest copper mine. A possible future underground expansion at Antamina could extend the mine life beyond 40 years. In February 2016, Franco-Nevada (Barbados) acquired a gold and silver steam related to the Antapaccay mine in Peru from Glencore for $ 500 million. The deal

2900-517: The time. In 2007 Newmont spun off Franco-Nevada in an initial public offering (IPO). Franco-Nevada has grown substantially since the IPO through the acquisition of existing royalties but also by acquiring precious metal streams directly from mine operators. The largest acquisitions have been by-product gold and silver streams from some of the world’s largest copper mines including Cobre Panama ( Panama ), Candelaria ( Chile ), Antapaccay ( Peru ) and

2958-470: The validity of the claims. In the end, all claims were found to be legitimate. Through the years, Sun Life flourished even as the country faced economic crises and martial law (1972-1981). In 2011, Sun Life signed a joint venture agreement with the Yuchengco Group of companies for the creation of Sun Life Grepa Financial Inc. marking Sun Life's entry into the bancassurance business. In 2023,

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3016-402: Was appointed a company director, later to serve as the chairman of the company until its take over by Newmont. Crespigny transformed the exploration company Amad, valued at A$ 3 million, to Australia's largest gold miner, valued at A$ 4.9 billion by Newmont, earning an estimated A$ 160 million in the process. In 1991, Normandy merged with Poseidon Poseidon Nickel, best known for its involvement in

3074-579: Was delisted from the ASX on 1 July 2002, and became Newmont Australia instead. Newmont had also, at the same time, taken over the Franco-Nevada Mining Corporation Limited , making the company the world's largest gold producer. Had AngloGold succeeded in its bid, they would have become the world's largest producer instead. Annual production figures of the company: Sun Life Financial Sun Life Financial Inc.

3132-411: Was developed by Menkes Developments Ltd, and Healthcare of Ontario Pension Plan (HOOPP), which is also a tenant of the building. The 800,000 square-foot office tower is LEED Platinum certified under the Canada Green Building Council . This location along the Gardiner Expressway is a prominent position on the Toronto skyline, Before the Corporate Office moved to its new Global HQ at One York Street,

3190-478: Was launched, and they agreed together to form the Yandal Gold company. The court found however, that it was only Gutnick who received any benefit and it was therefore him who had to pay the $ 28.5 million. The deal nevertheless went ahead and brought the Bronzewing , Jundee and Wiluna Gold Mine 's to the company. In late 2001, AngloGold made an offer for Normandy, valued at A$ 1.43 per Normandy share. It subsequently increased this offer by 30 cents per share, but

3248-410: Was outbid by Newmont, which offered A$ 1.70 per share. AngloGold closed its offer on 21 January 2002, not having found sufficient acceptance to warrant an extension. AngloGold's offer was valued at A$ 3.2 billion, 30% above Normandy's share price at the time. Normandy was then taken over by Delta Acquisition LLC , a fully owned subsidiary of the Newmont Mining Corporation in February 2002. The company

3306-407: Was part of a $ 10 billion debt reduction plan announced by Glencore in September 2015. Glencore invested more than $ 1.5 billion to build and commission the Antapaccay open-pit mine and plant, which started operations in 2012. Glencore received approval from Peruvian authorities in January 2020 for the development of the Coroccohuayco project on the Antapaccay property. The integrated project would have

3364-422: Was taller by several floors, the Sun Life Building was at the time the largest building in terms of square footage anywhere in the British Empire . Chartered in 1865, its traditional base business worldwide remains life insurance. However, it now also has significant asset management operations. In 1919, it was the first Canadian company to offer group life insurance. Having begun its first US operations in 1895,

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