The US government is taking a $25 million equity stake in Dublin-based battery metals miner TechMet, as part of a push by President Donald Trump to reduce the country’s reliance on supply chains dominated by China. The backing from the $60 billion US International Development Finance Corporation (DFC) will help TechMet develop a nickel and cobalt mine in Brazil. Both…
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Natural gas prices on Monday rose nearly 10 percent as lofty hopes of an economic stimulus deal in the United States persist, an increase in LNG exports, and positive reports of President Donald Trump’s bout with the coronavirus reinvigorates the markets after traders were spooked last week. At 1:50 p.m. EDT, natural gas spot prices were trading up $0.241 MMBtu (+9.89%) at…
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Having been the apex body of cement makers for the last 12 years, the All Pakistan Cement Manufacturers’ Association (APCMA) knew well that when the regulator comes calling, it is rarely to convey good news. Last week, the Competition Commission of Pakistan (CCP) conducted a search at the headquarters of APCMA in Lahore purportedly to gather evidence of possible communication,…
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The Ambassador of the Islamic Republic of Iran to Pakistan said getting Iran’s Chabahar and Pakistan’s Gwadar ports linked will strengthen bilateral trade and bring prosperity to the region. Ambassador Seyed Mohammad Ali Hosseini during an interview with Pakistani newspaper ‘Business Recorder’ said Gwadar and Chabahar are two important ports, adding that if they become more active, the two ports…
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In the 1990s Pakistan started off on an ambitious multi-step power sector reforms programme. It was a long and drawn-out process that began with the induction of independent power producers followed by the unbundling of WAPDA and creation of the National Power and Regulatory Authority (NEPRA). It was supposed to have culminated in the privatization of all major DISCOs. However,…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 3rd Oct, 2020 ) :Mines and Minerals sector has the potential to spur economic growth and job creation in Balochistan and the government had established state-run minerals companies, said a senior officer of the Mines and Minerals Department on Saturday. To general revenue from the mining sector, the government had formed the Balochistan Minerals Exploration Company (BMEC) and Balochistan Minerals Resource Company Limited (BMRL) to take mining lease in…
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ISLAMABAD: Economic Affairs Minister Makhdoom Khusro Bakhtyar informed the World Bank (WB) on Saturday that the Pakistan government would be able to complete three different development policy credits in due time, if they approve economic reforms proposed by the World Bank and Asian Development Bank (ADB) intended to simplify the execution of development projects. The minister gave this briefing during a…
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In 2015, India and Pakistan experienced heatwave conditions that ended up killing over 3,600 people in just three months. Now, research suggests this could become the new normal. If average world temperatures increase by between 1.5ºC and 2°C, potentially deadly heatwaves are likely to substantially increase (pdf) in frequency, and those similar to the one in 2015 could become an…
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HUBCO is the only power producer in Pakistan with four projects listed in the CPEC, namely imported coal-based China Power Hub Generation Company (Private) Limited (CPHGC) at Hub, Thar Energy Limited (TEL) and ThalNova Power Thar (Pvt.) Ltd. and Sindh Engro Coal Mining Company (SECMC) at Thar Coal Block II. Pakistan’s largest Independent Power Producer (IPP), Hub Power Company Limited…
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New research published this week by the US Department of Energy’s National Renewable Energy Laboratory (NREL) has highlighted the “untapped potential” of combining floating solar PV projects and hydropower plants. According to the NREL’s research, hybrid systems combining floating solar panels and hydropower plants may hold the “technical potential” to produce a “significant portion” of the necessary electricity generated across…
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