Long before any scientific review of the Alaska project, which has the potential to become the world's largest copper and gold mine, was even announced.
“I care about the environment and social issues as much as any of those people that sometimes are opposing mining projects because I think there is a tremendous contribution that this industry can make.”
Beijing is curbing the use of industrial metals and iron ore as collateral in short-term financing creating a vicious circle as deals are rapidly unwound.
Using commodities as loan collateral is practice in China, but Beijing is set to introduce new rules limiting this component of the shadow banking system.
