While experienced and rational heads are shaking at Key's privatization plans, vested interests are going light-headed at the prospects.
Solid Energy support for move to partial assets sales
“I believe that the intention of this announcement is entirely consistent with my public position and statements over the past year which recognises the opportunity for New Zealand that can be created by moving in this direction and the mixed ownership model that is under discussion.”
Chairman, John Palmer.
Thursday, January 27, 2011
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9 comments:
Pike river will be purchased by solid energy in about 18 months time I reckon.
Indeed Soothsayer - I suspect, going by your take on Pike River so far, that you are correct.
Did you know that solid energy actually had (has) private interest in their Spring creek mine here Robert?
The first "partner" in this mine ended up being bought out by solid energy, can't see how that is efficient.
I didn't, though I do now.
Know who they were?
Spring Creek is part owned by a foreign agrigiant Cargill
http://www.sourcewatch.org/index.php?title=Cargill
Cargill, Inc. is based in Wayzata, MN and is the second largest private corporation in the United States - Cargill is the largest supplier of grains in the world. It is the world's second largest supplier of animal feed and the second largest supplier for food and industrial starches. The company is also the second largest meat packer in the U.S
watch out for these 'mom and pop' investors - Mr and Mrs Qinghua
Large Chinese resources company Qinghua Group and small Australian partner Greywolf Goldmining are scoping mining investments in lignite, coal and ironsands in New Zealand
They hoped to be told next week of a time at which Greywolf and Qinghua's chairman would meet with Finance Minister Bill English and Energy Minister Gerry Brownlee. He hoped they would meet before Christmas.
Because of the Pike River disaster a meeting with them had been postponed.
Giant Chinese energy company Qinghua Group - with more than $12 billion of mining assets - is assessing several billion-dollar projects across the South
Qinghua's joint venture partners Greywolf Gold-mining, incorporated in March this year, are spearheading project analysis, saying Qinghua has $10 billion to spend in New Zealand in 2011.
"We had hoped to make announcements in the new year, but the [three New Zealand] visits by Qinghua have been attracting attention," said Mr Lancaster
Thanks for your well informed comments anon.
This kind of detail is valuable to have.
Is Sprin Creek an actual place? Where is it (specifically)?
Spring Creek is an underground West Coast mine, part owned by not yet privatised Solid Energy
This article details a little the foreign ownership resource extraction direction Gerry sexycoal Brownlee is going for:
The New West Coast
Gold/Coal Rush? Globalisation
And Commodity Resources http://www.converge.org.nz/watchdog/16/04.htm
It is worth noting that Australian and Chinese mining giants want to buy NZ mining land and farms, and who knows what else Brownlee et al is trying to sell.
We know how the Indian dominated Pike River Coal went:
Corporate Connections: The Case Of Pike River And NZOG
In 2007, the big venture at Pike River on top of the Paparoa mountain range – mentioned as a prospect by Rogers - is in the full train of implementation. Previously in the year, Pike River Coal (PRC) boldly advertised in a brochure that: “A resource the world wants – is an investment you need”. This brochure was an invitation to invest in shares in PRC as NZ’s only local listed mining company. So on a planet subject to increasingly dangerous human-induced global warming, the maxim of “Think global, act local” has been given a new entrepreneurial twist. The sales pitch declared that: “Fuelled by economic growth, there is strong international demand for hard coking coal for steel production”. PRC is seizing the opportunity to supply the premium coal to which it now has officially sanctioned right of access. The firm’s brochure was aimed to generate applications for shares with an Initial Public Offer (IPO) opening on June 8th, 2007 and closing July 10th. Pike River Coal is a finalist in the 2007 Roger Award. See the full list of finalists elsewhere in this issue. Ed.
First stage of development had seen $65 million put into the project by PRC’s parent company NZ Oil & Gas Limited (NZOG) and two Indian corporate investors...
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