Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
The Tyee online news-site, best known for edgy coverage of British Columbia politics, is publishing a series of reports on the hard-ball politicking going on in the corridors of power in Washington over Canadian oil sands. In the first installment, journalist Geoff Dembicki sets the stage for what he describes as a showdown between environmental groups and oil sands lobbyists:
The battle line divides two viscerally opposed camps: Those arguing that North America’s deepening dependence on Alberta’s oil sands industry represents a pragmatic solution to looming energy crises, and those who say relying on oil sands crude marks an irreversible step closer to climate change catastrophe.
The prize, at end of the day, will be votes cast by politicians.
Will Washington’s legislators pass laws that have the effect of opening the oil sands spigots wider, assuring that Alberta’s bitumen crude increasingly, and permanently, flows into the U.S. market?
Or will they legislate against high carbon emissions fuel sources as a measure to reduce climate change? That could severely constrict the flow of oil sands’ output into the U.S., dashing the profit dreams of corporations — and some Canadian officials — who have already bet hugely on providing bitumen-derived crude for American consumption.
