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Gina Rinehart attacks ‘relentless negative’ media reporting of Roy Hill project

Agen Sabung Ayam

Up-to-date December 09, 2015 fourteen:24:16

Australia’s richest girl Gina Rinehart has experienced a spray at the media for “chatting down” the very first cargo of iron ore from the Roy Hill venture, as rates for the commodity tumble to their least expensive stage in a decade.

The MV Anangel Explorer arrived at Port Hedland very last 7 days and was due to go away with the cargo on Friday but complex issues and tidal issues have delayed its departure right up until later this week.

The ship is now loaded and Mrs Rinehart has unveiled a assertion, criticising media reporting of the issue.

“Even with the a lot of media critics and their relentless negativity, we have now loaded a ship of Roy Hill phosphorous ore … the following action in the fascinating story of the Roy Hill Task,” Mrs Rinehart stated.

Mrs Rinehart’s company Hancock Prospecting, which holds a greater part stake in the Roy Hill project, started development at the mine in early 2014 and had planned to ship the initial ore in September.

But prolonged court battles in between contractors, security concerns and value overruns have been a drag on the deadline.

Just final month, Roy Hill was in courtroom with direct contractor Samsung, accusing it of “intentionally holding again the task”.

Mrs Rinehart mentioned a constructive appear at the venture was lengthy overdue.

“The place are the media reviews about the several organizations who have been pleased to get perform from Roy Hill? Surely this is of far far more importance to Australia than the media’s glee about so-known as time slippages,” Mrs Rinehart stated.

“However which subject has had intense media repetition? As I’ve stated publicly before, congratulations are overdue for the exceptional performance of all the guys and females who labored so tough on this mega project to achieve it.”

Analysts have also questioned the timing of the very first shipment as iron ore rates this 7 days tumbled to their least expensive level considering that the commodity commenced location-marketplace investing a decade ago, falling beneath $ US40 a tonne.

Media stories ‘ill-educated, headline-seeking’: Tad Watroba

Hancock Prospecting executive director Tad Watroba also attacked the media over tips Roy Hill was pushing down the value of iron ore.

“This sick-informed, headline-in search of media barrage ignores that Roy Hill will not likely ramp up to big-ability tonnage even following calendar year, although extremely ignoring the progress of ore exports from Brazil and other Australian suppliers,” Mr Watroba said.

He also explained 90 per cent of Roy Hill’s creation had been secured below long-term contracts and extremely minor ore would enter the place market.

Long-phrase contracts for a huge component of production are frequently necessary to protected bank financing, but analysts think that does not always guarantee costs above the spot-price tag.

Subject areas: mining-business, company-economics-and-finance, media, port-hedland-6721, wa

1st posted December 09, 2015 14:21:50


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Ukraine Prime Minister Calls on EU to Block Nord Stream II Pipeline Project

Agen Sabung Ayam

BRUSSELS—Ukraine’s prime minister on Monday urged the European Union to block the Nord Stream II gas pipeline project, saying it will hurt Ukraine and hand Russia more of a monopoly over gas supplies to the continent.

“We believe that this project has to be stopped, banned because we do not think it is in the interest of Ukraine and [the] European union,” Arseniy Yatsenyuk said after meeting with two senior EU officials. The pipeline, he said, will give “more of a monopoly to Russian gas.”

In June, Royal Dutch Shell RDS.A -4.40 % PLC, Germany’s E.ON AG EONGY -0.21 % and Austria’s OMV AG OMVKY -2.63 % said they would allow Gazprom to ship an extra 55 billion cubic meters of gas to Europe every year through the Nord Stream pipeline via the Baltic Sea.

The pipeline proposal would give Moscow an alternative to using Ukraine as a transit route. The EU currently imports about one-third of its gas from Russia, with almost half of that coming through Ukraine.

The Nord Stream II project has placed Brussels in a difficult bind. The EU has been central to efforts to support Kiev in its clash with Russia over eastern Ukraine and has pledged an energy union which would increase the diversification of its energy supplies. EU officials said earlier this year existing gas pipelines from Russia already more than meet the bloc’s existing and future energy needs. They have also said Ukraine has been a good partner country for transporting energy.

U.S. officials have also pushed the EU not to proceed with the project, arguing it could significantly increase Russia’s leverage over its neighbor.

However, EU officials have repeatedly said they can’t block a project that abides by the region’s laws.

Responding to Mr. Yatsenyuk, the EU’s neighborhood commissioner Johannes Hahn, reiterated that line, saying it was “important to keep competition” in the energy sector and insisted that if the project abides by EU rules, “we don’t have a hook.”

“But we will have a very sound and thorough assessment” of the project, he pledged.

The issue could come up at a meeting of EU leaders later this month. A letter signed by a number of EU governments was sent to the European Commission recently expressing concerns about the project.

Separately, Mr. Yatsenyuk accused pro-Russian separatists in eastern Ukraine of resuming shelling of government forces on Monday morning, a step he said was the most recent example of breaches to the Minsk peace agreement from February.

The EU and the U.S. have repeatedly said they are linking the easing of sanctions on Russia to the full implementation of the Minsk deal.

Mr. Yatsenyuk pushed again for a recommendation by Brussels for EU governments to approve visa-free access to the bloc. Ukraine hopes to win that step in early 2016 and the prime minister said Kiev had already implemented all the reforms Brussels had conditioned its approval on.

The Commission is expected to publish its recommendation around December 15.

Mr. Hahn acknowledged Ukraine had taken the steps it pledged and said he hoped the EU’s executive would be able to issue a “very positive” review of Ukraine’s progress. However he warned he couldn’t prejudge the outcome.

EU officials have indicated that while Ukraine may have done most of the legislative homework to win visa-free access, it still needs to follow up on some steps, including measures to toughen up Kiev’s anticorruption institutions. That could be required to win formal legal backing by Brussels for Ukraine’s visa-free access bid.

EU foreign policy chief Federica Mogherini hinted at that on Monday.

“The European Union encourages Ukraine to continue the efforts to fulfill the remaining recommendations, notably on anti corruption,” she said at the news conference.

Write to Laurence Norman at laurence.norman@wsj.com


WSJ.com: World News

Jennifer Lawrence plans to make directorial debut with ‘Project Delirium’

Sabung Ayam On the internet

LOS ANGELES, Nov. 28 (UPI) — Oscar-profitable actress Jennifer Lawrence is organizing to make her huge-screen, directorial debut with Venture Delirium, but doesn’t program to act in the movie.

Deadline noted the movie is based on a 2002 New Yorker magazine write-up penned by Raffi Khatchadourian about the military profession of Military Col. James S. Ketchum, a psychiatrist involved in experiments in the 1960s and ’70s using psychochemicals that briefly incapacitated the minds of soldiers in the discipline.

The film is currently being financed by 2929, with Lawrence and her partner Justine Ciarrocchi producing with Todd Wagner and Ben Cosgrove. No commence day has been declared but.

Lawrence, 25, won her Academy Award for her operate in Silver Linings Playbook. She lately wrapped up her run in the 4-blockbuster series The Hunger Game titles and will quickly be observed in the film Joy.

Newest Information – UPI.com

How Africa’s fastest solar power project is lighting up Rwanda

Bandar Sabung Ayam

“Arise, shine for your light has come,” reads a sign at the entrance to the very first key photo voltaic electricity farm in east Africa.

The 8.5 megawatt (MW) power plant in Rwanda is developed so that, from a bird’s-eye check out, it resembles the shape of the African continent. “Right now we’re in Somalia,” jokes Twaha Twagirimana, the plant supervisor, for the duration of a walkabout of the 17-hectare site.

The plant is also evidence, not only of renewable energy’s growing affordability, but how nimble it can be. The $ 23.7m (£15.6m) solar discipline went from agreement signing to design to connection in just a 12 months, defying sceptics of Africa’s capability to realise assignments quick.

The environment is magnificent amid Rwanda’s famed environmentally friendly hills, inside of check out of Lake Mugesera, 60km east of the money, Kigali. Some 28,360 solar panels sit in neat rows above wild grass where inhabitants include puff adders. Tony Blair and Bono have not too long ago taken the tour.

From dawn until dusk the pc-controlled photovoltaic panels, every single 1.nine sq metres, tilt to track the sun from east to west, enhancing efficiency by 20% in contrast to stationary panels. The panels are from China even though the inverters and transformers are from Germany.

The plant’s design has developed 350 nearby jobs and enhanced Rwanda’s era capability by 6%, powering far more than fifteen,000 houses. All this is vital in an economic system that, 21 several years soon after the genocide, is expanding quickly and aims to give fifty percent its inhabitants access to electrical energy by 2017.

Twagirimana, a single of 5 total-time personnel on-website, explained: “The Rwandan authorities is in determined need of power. In 2013 they only experienced one hundred ten megawatts. They wished solar to boost capability.”

The authorities agreed to a joint bid by Gigawatt International, Norfund and Scatec Solar, backed by Barack Obama’s Energy Africa initiative. Building started in February 2014 and was concluded by July. “It’s the fastest undertaking in Africa.”

Its first year produced an estimated fifteen million kilowatt several hours, sending electrical power to a substation 9km absent, which has prompted blended views in neighborhood communities. Twagirimana, 32, described: “The neighbours say they want strength immediate from right here since they consider it would be more affordable. It is not true. We market to the utility. Even our building receives electrical power from the grid.”

The solar discipline is joined to a central server in Oslo and can be monitored remotely by way of the world wide web. Twagirimana thinks it could be a template for the continent. “We have loads of sun. Some are dwelling in distant locations exactly where there is no strength. Photo voltaic will be the way forward for African nations around the world.”

The project is built on land owned by the Agahozo-Shalom Youth Village, where 512 young people are offered schooling and extracurricular activities.

The venture is created on land owned by the Agahozo-Shalom Youth Village, the place 512 youthful men and women are offered schooling and extracurricular activities. Photograph: Cyril Ndegeya / AFP for the Guardian

The project is developed on land owned by the Agahozo-Shalom Youth Village, whose mission is to treatment for Rwanda’s most susceptible young children orphaned just before and soon after the genocide. This lease gives the biggest source of cash flow to the six-yr-aged village, at present residence to 512 young men and women who are provided education and extracurricular routines.

Jean-Claude Nkulikiyimfura, director of the village, mentioned: “The venture is most likely the fastest: in less than a year it was up and heading. It’s bringing a lot of visits from any individual intrigued in task growth, and it provides some visibility for us. It’s one thing fairly distinctive and we’re happy to be partners in it.”

Some of the village’s younger folks have gained instruction at the photo voltaic site and 1 worked on the undertaking. Other spin-offs have incorporated a partnership to make photo voltaic panels for 250,000 homes. Nkulikiyimfura, forty, additional: “Renewable strength is the way to go and we’re really very pleased to have it listed here. It displays what is genuinely possible when government operates with the general public and private sectors.”

One particular village member, eighteen-calendar year-aged Bella Kabatesi, who dropped her mother and father to sickness when she was four, has employed solar energy to style a evening gentle at a memorial to the village’s late founder. “The big photo voltaic plant is likely to support the men and women and the place due to the fact it’s cheaper than principal electrical electrical power,” she mentioned.

Rwanda has been both criticised for trampling on human legal rights and praised for its dependable target on advancement and obtaining items accomplished. Chaim Motzen, Gigawatt Global’s co-founder and managing director, and a photo voltaic market pioneer in Israel, explained: “Rwanda had one hundred ten megawatts on the grid for a population of 12 million individuals Israel has thirteen,000 megawatts for eight million individuals. There was a desperate require for a lot more energy.

This $  24m project is the first utility-scale, grid-connected, commercial solar field in east Africa that has increased Rwanda’s generation capacity by 6%.

This $ 24m undertaking is the very first utility-scale, grid-linked, business photo voltaic area in east Africa that has enhanced Rwanda’s era ability by six%. Photograph: Sameer Halai/SunFunder/Gigawatt International

“Rwanda has an excellent business setting – no corruption – and that played a role. I also consider they have been severe about seeking to go rapidly. We had good companions on the floor. It is now getting utilised as a product: you can do vitality discounts swiftly and get things done. It’s a catalyst for foreseeable future projects in Rwanda and with any luck , not just in Rwanda to encourage other folks to do what we’re carrying out.”

Solar power is a key component in Africa’s future, Motzen believes. “Is it the only resolution? No, due to the fact photo voltaic is intermittent. But will it be a main element of the answer? I imagine it will.”

Yosef Abramowitz, president of Gigawatt Global, told a US government delegation and Bono at a internet site pay a visit to in August: “We have decoupled GDP expansion from emissions development. What you have heard is that we are six% of a country’s generation capacity without having introducing any emissions. It is a bogus choice in Paris [the climate summit] and this is the evidence test to be ready to crack that deadlock so that the world can go photo voltaic.”

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