Canada-EU trade row brewing as bloc says WTO won’t stop it from ranking oil sands world’s dirtiest fuel

Reuters reports a proposed European Union law to rank Canadian oil sands as dirtier than conventional fuel can probably be successfully defended if Ottawa challenges the move at the World Trade Organization according to legal advisers to the EU's executive. The statement comes a day after environmentalists hurled accusations and interrupted a speech by Canada's resources minister, who was on tour to persuade Britain not to join the EU oil sands initiative. The government of Alberta has also written to EU experts voicing "grave concerns" that the bloc's plans are unfair and a potential threat to trade ties ahead of a Tuesday meeting to debate a green ranking of fuels. Royal Dutch Shell and France's Total are the top European investors in the oil sands.

Read More

Frik Els | October 21, 2011 | 3:17 pm

Mined out town to De Beers: ‘Our suffering is forever’

A small South African community 300km north of Cape Town is taking on De Beers over the diamond giant's plans to sell its 970 square km Namaqualand properties to a much smaller outfit already operating in the area. Locals say Trans Hex, which will assume responsibility for rehabilitation, has a poor track record in the area, lacks financial clout and the environmental management programme put together by De Beers already falls far short of what is needed to clean up almost a century of opencast mining in the biodiversity hotspot. In a video (after the jump) community spokesperson David Markus says a diamond may be forever for De Beers, but for his people, "it’s the suffering that’s forever."

Read More

Frik Els | October 20, 2011 | 11:24 pm

China, Taiwan sign nuclear safety accord

Taiwan and mainland China have signed a cross-Strait cooperation agreement on nuclear safety and emergency reporting during the seventh round of talks between the two sides in the past three years. The agreement was signed on 20 October in China's nor...

Read More

Warwick Pipe | October 20, 2011 | 3:16 pm

Over one in ten Brits have a gold stash worth more than what they have in the bank

According to a new survey by esure home insurance British distrust of banks and savings accounts has increased to such an extent that more than one in ten in the United Kingdom now own a stash of gold valued above any cash savings. According to the survey, more than 38% of Britons also say investing in gold is better than keeping cash savings. As gold vending machines pop up in shopping malls and physical gold retailers like London-based Bullionvault surpass some central banks in gold holdings, 14% of Britons bought an item of gold as an investment in the past year.

Read More

Frik Els | October 19, 2011 | 8:07 pm