The Indonesian government has again suggested it could tighten controls of coal exports with rules potentially introduced as early as next month.
“We expect the coal export regulation together with an amendment of the tin export regulation to be issued in early July, before the presidential election,” Thamrin Latuconsina, export director for mining and industrial products at the Trade Ministry said.
General Electric is sweetening the deal for the power assets of Alstom. GE chief Jeff Immelt met with French President Francois Hollande and promised to create 1,000 new jobs in France within three years as part of the takeover. The French president’s office had been criticizing this deal valued at $16.9B USD up until the meeting. Right now in France, more than 3.3 million people, or more than 10% of the workforce, are unemployed, and Hollande has been under pressure to preserve local jobs. Earlier this month, the French government gave itself veto power on transactions and the intent is to prevent deals, especially foreign deals, that take away French jobs. The new proposal from GE will protect jobs in the country’s industrial space.
Source: https://uk.finance.yahoo.com/video/ges-immelt-meets-president-hollande-184118077.html
ARIS, May 28 (Reuters) – General Electric (GE) strengthened its position in the battle for the power arm of French group Alstom on Wednesday with a pledge to create new jobs in France and recognition from Paris that it had made a more acceptable offer.
GE Chief Executive Jeff Immelt promised 1,000 new engineering and manufacturing jobs within three years of a deal when he met French President Francois Hollande in the morning, said two sources close to the talks who asked not to be named because the matter has not been announced by the U.S group.
Read more at: http://www.reuters.com/article/2014/05/28/alstom-offer-general-electric-idUSL6N0OE1VJ20140528
May 28 (Reuters) – Indonesia will begin construction next month of its long-delayed $1.6-billion Sarulla project, the world’s biggest geothermal power plant, the country’s chief economic minister said on Wednesday.
Southeast Asia’s largest economy, home to the world’s largest geothermal resources, is racing to meet power demand growth of more than 7 percent a year, with plans to add 60 gigawatts of capacity to its existing grid by 2022.
Read more at: http://www.reuters.com/article/2014/05/28/indonesia-geothermal-sarulla-idUSL3N0OE26F20140528
Lawmakers who want the United States to export more natural gas called a 30-year, $400 billion deal for China to buy energy from Russia’s state-owned gas supplier a wake up call for Washington.
Sen. John Hoeven (R-N.D.) said he worried the deal would strengthen Russia amid the crisis in Ukraine and urged his colleagues to approve more gas exports from the U.S.
“This gives Russia another option. It strengthens their hand vis-à-vis what they decide to do in Eastern Europe,” Hoeven said. “And it makes it even more imperative that we advance our legislation to allow exports of LNG (liquefied natural gas) to Europe so that they have alternative sources.”
WASHINGTON – African mining companies find themselves with an unusually strong case for converting to 100% peak penetration of solar or wind energy rather than implementing partial solutions that bring only small financial and environmental benefits, Siemens Smart Generation Solutions manager Fabrice Nicolas says.
He notes that countries in western and southern Africa, where most mines operate, have tremendous solar and wind resources upon which to draw. African mines are also often located remotely with unreliable electric service or perhaps no grid connection at all.
Read more at: http://www.miningweekly.com/article/africa-focused-miners-positioned-to-embrace-100-renewable-energy-2014-05-21
General ELectric is seeking approval from France’s government for its $17 billion Astom energy bid, is in early-stage talks with nuclear-plant maker Areva and other French companies about asset sales or partnerships, people familiar with the matter said.
Read more at: http://www.bloomberg.com/news/2014-05-18/ge-said-to-seek-partners-on-alstom-assets-to-win-french-approval.html
BHEL has signed an MoU with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired power plant in Sulawesi region in Indonesia, Bhel said in a statement
Rio Tinto today launched a new phase of its industry-leading Mine of the Future™ technology and innovation programme that is driving greater value by optimising the performance of key international copper and coal operations.
The Processing Excellence Centre (PEC) in Brisbane, Australia is a world-first, state-of-the-art facility that enhances monitoring and operational performance by examining in real time processing data from seven Rio Tinto operations spread across the globe.
Read more at: http://www.riotinto.com/media/media-releases-237_10054.aspx
The French government has issued a decree allowing it to block foreign takeovers of French firms in “strategic” sectors, throwing up a potential roadblock to General Electric’s $16.9 billion bid for Alstom’s energy assets.
The decree, extending an existing 2005 law relating to the defence and other industries, was published in the official state gazette yesterday and gives the state much-increased powers to block foreign takeovers in the energy, water, transport, telecoms and health sectors.
Read more at: http://www.timesofmalta.com/articles/view/20140516/business-news/France-takes-new-powers-to-block-foreign-takeovers.519240
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