Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Christy Clark, the Premier of Canada’s British Columbia, unveiled details of a C$25 billion public and private sector plan to expand trade with Asia, by improving the province’s transportation system.
The project, called Pacific Gateway Transportation Strategy 2012-2020 aims to expand international trade in coal, potash, minerals, forest products, grain, container traffic and air cargo movement.
“We have a once-in-a-generation opportunity to take advantage of the fastest growing economy in history,” Premier Clark said in a press release.
“Teck has invested over $1 billion and hired an additional 1,000 people in B.C. over the last two years to maintain and expand our steelmaking coal, copper and zinc operations,” said Don Lindsay, president and CEO of Teck Resources Ltd. “We’re investing to meet growing demand, particularly in Asia, for the products we produce.
Working with the B.C. government and the other Pacific Gateway partners, we are creating opportunities for equipment operators, trades people and professionals across the province.”
Neptune Terminals’ strategic investments have resulted in record terminal exports of potash and steelmaking coal, a 20% job increase at terminals, “and additions to come as we complete our expansions,” said Neptune Bulk Terminals (Canada) President, James Belsheim.
The strategy will increase major road and rail capacity, rural resource transportation capacity, bulk and container terminal capacity at B.C. ports and air passenger and cargo capacity to meet projected growth through 2020.
Last week’s federal budget, brought down by Finance Minister Jim Flaherty in the House of Commons on March 29, 2012, gave another important push to Canada’s mining sector. Industry associations, such as the Mining Association of Canada and The Prospectors and Developers Association of Canada (PDAC) were quick to give their approval.
