. Energy News .




.
TRADE WARS
Australia's Fortescue hints at HK, Shanghai listing
by Staff Writers
Sydney (AFP) July 12, 2011

Australian iron ore miner Fortescue Metals is considering a listing in Hong Kong or Shanghai in a bid to get closer to its Chinese clients, the company's founder Andrew Forrest said Tuesday.

The comments from Forrest come a month after fellow Australian miner Resourcehouse abandoned plans for a US$3.6 billion float on the Hong Kong stock exchange citing unfavourable global conditions.

"We study the Shanghai market and Hong Kong market all the time," Forrest, one of Australia's richest men, told Dow Jones Newswires in an interview.

"We haven't made any decisions as a board, but we are certainly setting up the opportunity."

Western Australia-based Fortescue, which with BHP Billiton and Rio Tinto is one of the country's top three iron ore miners, has grown rapidly since its first shipment in 2008, with most of its ore bound for China's steel mills.

The company has since shipped more than 70 million tonnes of ore.

Forrest steps down as Fortescue's chief executive next week following a ruling in February that he misled investors on Chinese deals that could see him banned as a company director.

He said Tuesday that the company was not pinched by labour or skills shortages, saying Fortescue's major concerns were energy and taxes, including the government's planned levies on carbon emissions and mining profits.

Australian miner Resourcehouse cancelled its plan to list in Hong Kong for the fourth time in early June, saying markets had become too choppy.

The unprofitable firm, controlled by billionaire Clive Palmer, had put off three previous attempts to list in Hong Kong since 2009.

A listing in Hong Kong would have allowed Resourcehouse to boost its profile in China, while the company had planned to use a large part of the proceeds from the IPO to fund a thermal-coal project and iron-ore project in Australia.




Related Links
Global Trade News

.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries


Iraqi premier to visit China next week: spokesman
Baghdad (AFP) July 12, 2011 - Iraq's Prime Minister Nuri al-Maliki will arrive in China on Monday for a three-day visit focusing on energy, investment and other economic issues, his spokesman said Tuesday.

Maliki "will head a large delegation that will include ministers and will meet Chinese President Hu Jintao and Premier Wen Jiabao," spokesman Ali al-Dabbagh said.

Discussions will focus on "improvement of bilateral relations in the fields of energy, transportation, agriculture, services and investment," he added.

China is a leading player in Iraq's oil sector.

In 2009, China National Petroleum Corp sealed a deal along with Britain's BP to ramp up production at Iraq's biggest oil field, Rumaila, which has estimated reserves of 17.7 billion barrels.

In December of that year, a consortium led by CNPC won the right to develop Halfaya oil field in southern Iraq, whose reserves are estimated at 4.09 billion barrels.

This month, the Al-Ahdab oil field in central Iraq, which is operated by CNPC, began production with 60,000 barrels per day.

In 2008, CNPC signed a $3 billion contract to develop the Al-Ahdab oil field with another Chinese company, Zhenhua Oil, in the province of Wasit for 23 years.

Iraq sits on one of the world's largest oil reserves -- 143 billion barrels by Baghdad's own estimates.





. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



TRADE WARS
BRICS vow to improve access to low-cost medicine
Beijing (AFP) July 11, 2011
The BRICS group of emerging countries on Monday vowed to improve access to low-cost and high-quality medicine - and called on developed nations to shoulder responsibility in helping the poor. Health ministers from Brazil, Russia, India, China and South Africa said they would work with international groups such as the World Health Organization and UNAIDS to provide "affordable, safe and effe ... read more


TRADE WARS
Argentina blocks Paraguay power sales

Industry unhappy with Australia's pollution tax

Australia sets carbon price to fight climate change

Group: EU carbon permits should be cut

TRADE WARS
China rejects Philippine proposal on disputed sea

Philippines says China sea claim shaky

China orders US oil giant to halt rigs after spill

China suspends ConocoPhillips operations

TRADE WARS
New wind turbines said more efficient

Wind power numbers down in Britain

Wind farm inquiry balanced and reasonable

Power-One Inverters Chosen to Power WindTronics

TRADE WARS
Tecta Solar Expands East Coast Presence Fueling Growth through New Hires and Service Expansions

Pyron Solar Achieves Milestone For Its Floating CPV Power Production System At Prototype Test Site

U of T researchers build an antenna for light

Big solar panel factory launched in Italy

TRADE WARS
Japan PM urges nuclear-free future

Japan PM to outline nuclear phase-down plan

Japan says reactor 'stress tests' in two phases

Japan still needs nuclear power: Tokyo governor

TRADE WARS
Filters seen as greenhouse gas weapon

Grasses eyed as ethanol source

Hot springs microbe yields heat-tolerant enzyme

Microalgae could be next big cash crop for Texas energy farmers

TRADE WARS
China launches experimental satellite

China to launch an experimental satellite in coming days

China to launch new communication satellite

China's second moon orbiter Chang'e-2 goes to outer space

TRADE WARS
Global warming: Cities, too, are carbon 'sinks'

US pledges $5 million for drought-hit Somalis

Australia begins selling disputed pollution tax

Australia sets carbon tax to fight climate change


Memory Foam Mattress Review
Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News
.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement