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Capital Raising in Mining Sector Keeps TSX Strong: report

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The Toronto Stock Exchange, home to the largest number of mining companies globally, has seen capital raising in the sector remain resilient this year despite volatile markets, with a "strong" pipeline ahead, a senior executive said on Monday, Reuters reported.

The report said the TSX - home to more than 1,600 miners, many of them junior exploration companies - has seen the sector raise $10.9 billion in the year to October on the venture exchange and main market. That compares with $11.2 billion in the same period a year ago.

"It has been slower, but not by much....To put this in context, the mining index is down about a third," Ungad Chadda, senior vice-president of the Toronto Stock Exchange, whose remit includes all aspects of listings, reportedly said. "It speaks to the resilience of our marketplace, and to the stage of development of our companies. We have a lot of exploration and development companies that have certain milestones and maintenance obligations."

Chadda was speaking on the sidelines of a mining conference in London,

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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