Australia’s South32 in talks to exit thermal coal business in South Africa

first_imgAustralia’s South32 in talks to exit thermal coal business in South Africa FacebookTwitterLinkedInEmailPrint分享Reuters:Australian miner South32 Ltd reported a bigger-than-expected 25% drop in annual profit as the trade war between China and the United States hurt aluminum prices, sending its shares lower by as much as 5.8% on Thursday.South32 also said it was in talks to sell its South Africa thermal coal business to Johannesburg-based Seriti Resources, the latest company to get out of energy coal at a time when investor pressure and climate change concerns are prompting businesses to limit their exposure to fossil fuels.The miner, which had flagged last year that it was looking to sell its energy coal business in South Africa, did not disclose a deal value, but said it consists of a modest upfront cash payment and a deferred price mechanism.The planned sale follows Rio Tinto’s exit from coal in 2018 and comes days after the head of BHP Group, the world’s biggest miner, said the company had put its thermal coal operations under review.Norway’s $1 trillion sovereign wealth fund said in June it may have to sell its stake in South32 to meet tighter ethical investing rules adopted by the country’s parliament.More: Profit slumps at Australia’s South32 as trade war hits aluminum priceslast_img read more

India, Guyana seeking to develop direct business trades

first_img…as India’s 70th Republic Day observedThe Indian High Commission on Thursday evening hosted a celebratory ceremony to commemorate India’s 70th Republic Day, which is commemorated on January 26 every year.Speaking at the event, which was hosted at the Marriott Hotel, Kingston, Georgetown, India’s High Commissioner to Guyana, Venkatachalam Mahalingam noted that this year marks the 50th anniversary since the establishment of complete diplomatic relations between Guyana and India.He commented on the developments in India throughout the years and their present position in the world among the top-ranking nations. The Indian Government is currently seeking to relaunch the country by 2022 as a place whereHigh Commissioner, Venkatachalam Mahalingam delivering his remarks at India’s 70th Republic Day celebrations on Thursdayequity is key and all are subjected to better livelihoods.“During the last three years, India has proved to be a stable economy model in many areas including its regulatory framework. India is shifting from being an informal economy to a formal economy. India has earned its reputation of one of the 10 most-wanted Foreign Direct Investment destinations with an FDI of US$60 billion in 2018,” said the High Commissioner.High Commissioner Mahalingam noted that since the establishment of full diplomatic relations between India and Guyana in 1968, the two countries have been “warm and friendly but also we have consistently held common positions and supported each other in the multilateral arena. India and Guyana have much in common as we share the same colonial past, freedom struggle through peaceful means and our societies being multi-racial and multi-cultural.”According to the High Commissioner, bilateral trade between the two nations is some US$35 million, a figure which he deemed as below potential. It has caused some increased thoughts on ways to enhance some direct engagement in agriculture, renewable energy and pharmaceuticals among others.“The annual bilateral trade between India and Guyana, as reported by both Governments, is around US$35 million, which is far below potential. The trade through third countries for Indian goods and commodities is also equally high and it is expected to be much more than the actual reported trade figure. We are striving hard to enhance direct engagement between the business communities to enhance trade and investment in the fields of renewable energy, agriculture, education, mining, etc and enhanced cooperation in expanding pharmaceutical trade.”His words were followed by a brief presentation by the Prime Minister, Moses Nagamootoo who lauded the economic programme of the country, which has produced mass development.“Your country has embraced a dynamic economic programme and has embarked on a transformational path…The bounds of friendship between Guyana and India shared close historical and ancestral bonds which continue to deepen our cultural exchanges at the people-to-people level,” said Nagamootoo.Among those who attended the event were Minister of State, Joseph Harmon; Opposition Leader, Bharrat Jagdeo; Peoples Progressive Party (PPP) presidential candidate, Irfaan Ali; acting Chancellor of the Judiciary, Yonette Cummings-Edwards; members of the Diplomatic Corp and other stakeholders.last_img read more

Martinez fears Everton star suffered serious injury in Merseyside derby

first_img Kevin Mirallas lies injured at Anfield 1 Roberto Martinez fears Kevin Mirallas’ hamstring injury is a serious one.The Belgian attacker pulled up during the Merseyside derby draw at Anfield on Saturday.Everton are still waiting to discover the full extent of the problem but Martinez admits he is concerned Mirallas could be facing a lengthy spell on the sidelines.The Toffees boss told evertontv: “We had a few scans and we are going to carry on today. It isn’t a straightforward diagnosis but obviously the signs are not great.“We are going to make sure we are clear with the problem. It’s not normal when Kevin Mirallas feels something like that and has to come off in the game. We know then that it is something serious.“He has always been a very fit boy who is always ahead of schedule and we hope this time it is going to be exactly the same.”Everton are also still to assess whether Seamus Coleman, Sylvain Distin and Steven Pienaar will be fit to travel for Thursday’s Europa League group game at FK Krasnodar.last_img read more