Connect with us

Investment

China will conduct talks on EU investment pact 'at its own pace' – The Globe and Mail

Published

 on


Chinese Foreign Ministry spokesman Wang Wenbin attends a news conference in Beijing, China on Dec. 14, 2020.

THOMAS PETER/Reuters

China will conduct talks on an investment pact with the European Union “at its own pace,” its Foreign Ministry said on Friday, raising doubts about whether a deal can be sealed by year-end.

Negotiations for the EU-China Comprehensive Agreement on Investment, which would grant European companies greater access to the Chinese market, have gone on for six years.

An EU official said last week that a deal was close after a push from Germany, which holds the EU presidency until the end of the year and is the biggest European exporter to China.

Story continues below advertisement

But the latest comments by the Chinese government suggest otherwise.

China will “conduct talks at its own pace on the premise of safeguarding its security and developmental interests,” Foreign Ministry spokesman Wang Wenbin told a news briefing on Friday.

His comments echoed that of the Commerce Ministry, which said late on Thursday that reaching an agreement required effort from both sides to “meet each other halfway.”

Mr. Wang’s latest comments were also a walk-back from a day earlier. On Thursday, Mr. Wang had denied that talks were stuck owing to China making more demands on nuclear energy. “As I understand, talks are goings smoothly,” he had said.

A senior Western diplomat in Beijing said China had asked Europe for “impossible things,” such as access to sensitive sectors such as energy, water treatment and public utilities.

Another major sticking point is China’s reluctance to ratify international laws related to labour and other aspects of sustainable development, the diplomat added.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

Green energy investment a 'once in a generation' shot: Mark Wiseman – BNN

Published

 on


The chair of Alberta’s largest pension fund manager is hailing the shift toward green energy as the “investment opportunity of a generation.”

Alberta Investment Management Corporation (AIMCo) chair Mark Wiseman said the increased focus on the damage caused by climate change and the regime shift south of the border should accelerate the adoption of clean energy sources and create massive opportunities for forward-thinking investors.

“I think we’re going to see a massive acceleration, particularly in the first two years of the Biden administration, to a move to climate finance; to a move to green energy and to a move towards a much more aggressive policy transition and economic transition to net-zero [emissions],” he said in an interview on Tuesday. “So, I think hydrogen is one of the things that will, in all likelihood, play a very important role in that.”

AIMCo is among the eight largest pension fund managers in Canada, and had $118.8 billion worth of assets under management as of the end of fiscal 2019. The fund has posted an 8.2-per-cent annualized return on investments over the last decade.

While Canada has historically leaned heavily on the extraction and export of traditional energy sources, Wiseman said he is convinced the nation’s long track record of energy innovation should allow Canada to be at the fore of the green energy revolution.

“I really believe that this may be the investment opportunity of a generation. And, I believe Canadian investors, Canadian banks, Canadian pension plans can play an incredibly important role in leading what is now being described as transition finance,” he said.

“As we move to a net-zero world in 2030, 2040, 2050 and beyond, we are going to have to finance that change. Canadian corporations have the opportunity to be at the forefront of that change. I think we should view it as not something we have to be defensive about, but actually: ‘How are we going to play offence? How are we going to lead, in terms of transition finance?’”

The federal government has pledged that Canada will reach net-zero emissions status by 2050, joining about 120 other countries which have set the same goal.

Though Wiseman views the clean-power push as a potential boon for the domestic economy, he said that Canada’s oil and gas sector can play a critical role in bridging the gap as the green energy industry matures.

“Canadian natural resources and Canadian energy is still going to be incredibly important,” he said.

“Canadian energy has to play a very important role overall in North America.”

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

Decarbonization gets $501bn investment in 2020 – report – MINING.COM – MINING.com

Published

 on


The largest sector in 2020 was renewable energy, which attracted
$303.5 billion for new projects and small-scale systems. This was
up 2% on 2019, despite covid-related delays to some deals, BloombergNEF reports.

The second-biggest was electric transport, which saw $139 billion
of outlays on new vehicles and charging infrastructure, up 28%.
Electric heat got $50.8 billion of investment, up 12%.

Hydrogen and CCS are small sectors for now, but are expected to
grow, the report reads. In 2020, they received investment of $1.5 billion and $3 billion, respectively down 20% and up 212%.

“Our figures show that the world has reached half a trillion dollars a year in its investment to decarbonize the energy system. Clean power generation and electric transport are seeing heavy inflows, but need to see further increases in spending as costs fall, says Albert Cheung, head of analysis at Bloomberg NEF.

“Technologies such as electric heat, CCS and hydrogen are only attracting a fraction of the investment they will need in the 2020s to help bring emissions under control. We need to be talking about trillions per year if we are to meet climate goals,” Cheung says.

A geographical split of BNEF’s energy transition investment data shows that Europe accounted for the biggest slice of global investment, at $166.2 billion (up 67%), with China at $134.8 billion (down 12%) and the U.S. at $85.3 billion (down 11%). Europe’s impressive performance was driven by a record year for electric vehicle sales, and the best year in renewable energy investment since 2012.

Meanwhile, Europe and China are still vying for top position among
markets active in energy transition investment.

(Read the full report here)

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

Otso Announces Receipt of Shareholder Approval of US$11 Million Strategic Investment by Brunswick Gold Ltd – Investing News Network

Published

 on


Otso Gold Corp. is pleased to announce that, further to its press release dated December 22, 2020, the Company has received shareholder approval in respect of the private placement of units for aggregate gross proceeds of US$11 million to Brunswick Gold Ltd to elect Brian Wesson, Clyde Wesson, Yvette Harrison, Vladimir Lelekov, Nicolas Pascault, Victor Koshkin and Martin Smith as directors. To this end, on …

(TheNewswire)

Otso Gold Corp. (“ Otso ” or the “ Company ”), (TSXV:OTSO) is pleased to announce that, further to its press release dated December 22, 2020, the Company has received shareholder approval in respect of the private placement of units for aggregate gross proceeds of US$11 million (the “ Financing ”) to Brunswick Gold Ltd (“ Brunswick Gold

The Company’s annual and special shareholders meeting was held on January 20, 2021  whereat the Company’s shareholders overwhelmingly voted to:

  • – elect Brian Wesson, Clyde Wesson, Yvette Harrison and Christopher Towsey as directors; provided however, if the Financing is completed (as anticipated), to elect Brian Wesson, Clyde Wesson, Yvette Harrison, Vladimir Lelekov, Nicolas Pascault, Victor Koshkin and Martin Smith as directors. To this end, on completion of the Financing, Mr. Christopher Towsey has agreed to tender his resignation as a director;

    – approve the re-appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants as auditors of the Company;

    – approve PFL Raahe Holdings LP and Brunswick Gold each becoming a new “Control Person” under the rules of the TSX Venture Exchange upon the closing of the Financing; and

    – approve the Company’s rolling stock option plan.

The Financing is expected to close shortly as the the Company is now only awaiting the ordinary course TSX Venture Exchange clearance of various personal information forms (PIFs) in connection with Brunswick Gold becoming a new ‘control person’.

As a correction to the Company’s press release dated December 22, 2020, the aggregate 284,944,440 units (for gross proceeds of US$11 million), with each unit comprised of one common share and one common share purchase warrant, to be issued to Brunswick Gold will include 25,904,040 units to settle the US$1 million principal of an unsecured loan currently owed to an affiliate of Brunswick Gold; such loan to be assigned to Brunswick Gold at or immediately prior to completion of the Financing.

For further information, please contact:

Clyde Wesson
Vice President
1 917 287 0716

info@otsogold.com
www.otsogold.com

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s continuous disclosure documents that can be found on SEDAR ( www.sedar.com ) under the Company’s issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

About the Company

Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The Otso Gold Mine is developed, fully permitted, has all infrastructure in place, two open pits and is progressing towards production in 2021 to process ore at name plate capacity of 2 million tonnes per annum.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

43131974.3

Copyright (c) 2021 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Let’s block ads! (Why?)



Source link

Continue Reading

Trending