Resource insecurity is back with a vengeance. It is time for world leaders to respond to burgeoning demand from emerging economies, which has driven up commodity prices and made them more volatile, and led to supply disruptions, environmental degradation and political tensions.
Governments have mostly reacted with unilateral – and often myopic – policies, alongside vague attempts at collaboration. This is not enough. The world’s top resource-producing and resource-consuming nations should establish a Resources 30 (R30) Group, and cooperate in managing global natural resources. Continue reading »
Resource nationalism isn’t just the expropriation of major companies or industries, like YPF in Argentina – it also takes subtler forms. James Smither, associate director at risk consultancy Maplecroft, explains to Rob Minto how shifts in commodity prices can undermine a country’s resource leverage and the more nuanced ways revenue can be retained within domestic borders.
Between now and 2030, China will be adding as much new power capacity as the US, UK, and Australia combined use today, according to calculations from HSBC. That is a lot of power.
But there is a catch: Generating electricity requires water, and Chinese supplies are increasingly running short. Whether it is water used to cool nuclear power stations, in coal-washing, steam turbines, or solar panel factories – everything that generates electricity needs water at some stage. Continue reading »
For centuries Russia has walked in step with Europe. Our country and its citizens have been at the centre of the continent’s history. It is our biggest trade and foreign investment partner. But while Russia is rightly proud of its place in Europe, this focus has left our eastern regions underdeveloped. We need to put this right if we are to develop the full potential of Siberia for the benefit of the country and of the rest of the world. Continue reading »
China’s Yancoal seems ready to get its estimated A$2bn takeover bid for Australia’s Gloucester Coal in before Christmas. Trading in Gloucester was suspended on Thursday as the boards of both companies were reportedly due to meet later in the day or on Friday.
Gloucester said in a public statement seeking the suspension of its shares that it was not yet in a position to make an announcement. But investors expect that it soon will be. Continue reading »
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