Tag: Mitsui

China’s aggressive efforts to secure natural resources around the world have sometimes made it an opponent of other importing nations, most recently South Korea. But a shared hunger for commodities can bring countries closer to together too.

Take Tuesday’s deal between Mitsui, one of Japan’s biggest trading houses, and Shenhua, the Chinese state-owned energy and mining company. The two groups agreed to work together to develop coal deposits in Mongolia, and perhaps in other countries in the future.Most of the coal is likely to be sold to Chinese power plants, but some will also find its way to Japan, according to Mitsui. The Japanese group will take a share of the profits regardless, making its investment a partial bet on further growth in Chinese demand.

Masa Serdarevic

From FT’s Lex column today:

As BP nears its goal of sealing the rogue oil well in the Gulf of Mexico, the stage for the Macondo calamity could soon shift from the seabed to the courtroom. BP owns 65 per cent of the well, but has been paying 100 per cent of the cost of the response so far – $4bn in clean-up costs and $277m in claims, and counting. That has left its partners in the Macondo venture – Anadarko, with 25 per cent, and Mitsui, with 10 per cent – out of the limelight, and off the financial hook. Even as estimates of the scale of the spill are tempered, the battle over who pays for it may be about to heat up. 

To continue reading, please go to the full article on the Lex website.

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