In April, Suncor investor Elliott Investment Management LP called for five directors to be added to the producer’s board and sought a management review after operational mishaps and accidents at its oil-sands projects caused the company to miss production targets.
A truck accident in January killed a contractor and injured two others at the Base Plant mine. In June of last year, a person was killed at the Syncrude mine, and two deaths happened in December 2020 at the Fort Hills mine.
Suncor’s safety record has been a contributing factor to its poor investment returns. The company’s share price has risen about 18% over the past five years, trailing the roughly 79% gain for rival Canadian Natural Resources Ltd.
An email to Elliott about Thursday’s fatality wasn’t immediately returned.
In June, RBC Capital Markets analyst Greg Pardy upgraded the oil-sands producer to outperform from sector perform and hiked the price…
