Japan’s biggest trading house is selling its 31.4% stake in Clermont coal mine to a 50-50 joint venture between Glencore and Sumitomo Corp, and its 10% stake in Ulan coal mine to Glencore.
By 2020, the British Columbia government hopes to see three major liquefied natural gas plants on the West coast of B.C. – something professional services firm EY estimates would generate more than $200 billion in investment.
Companies’ low valuation, the current focus on operational efficiency in the mining sector, and the chase for overseas assets by Chinese investors, are pushing deals up.