Mauritius Seeks Floating Power Plant Supply to Avoid Blackouts
The power barge should have a capacity of between 90 and 110 megawatts, according to a request for proposal issued by the state-owned Central Electricity Board on June 18. The process will close on Aug. 15.
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New York Times
8 minutes ago
- New York Times
Corrections: Aug. 5, 2025
Because of an editing error, an article on Saturday about the impact of President Trump's shifting tariff levels on the African nation of Lesotho misstated the day Lesotho's 15 percent tariff rate was announced. It was Thursday night, not Friday night. An article on Monday about a city in Kansas suing over a planned ICE detention center misstated the language in a poster seen at a protest of an immigration detention facility in Leavenworth, Kan. The poster said that Leavenworth is 'more than a prison town,' rather than 'not just a prison town.' An article on Friday about Ford Motor announcing that it lost money in the second quarter as tariffs took a toll on its business misstated the day that Ford reported its second-quarter earnings. It was Wednesday, not Tuesday. A picture from the streaming outlet TBPN published with an article on Friday about A.I. researchers' pay packages misidentified a Microsoft employee who used to work at Google's DeepMind lab. The person shown in the image was not Amar Subramanya. An article on Saturday about the negative impact that the Trump administration's tariffs are having on businesses they were meant to help misstated the month that the United States lost 11,000 manufacturing jobs. It was July, not June. The article also misstated the number of manufacturing job losses in June, based on initial estimates. The revised number was 15,000, not 6,000. The earlier estimate was 6,000. An article on Sunday about a veteran lifeguard's Friday routine misstated, in some instances, Javier Rodriguez's surname on second reference and that of his three adult children. Their surname is Rodriguez, not Hernandez. Errors are corrected during the press run whenever possible, so some errors noted here may not have appeared in all editions. To contact the newsroom regarding correction requests, please email nytnews@ To share feedback, please visit Comments on opinion articles may be emailed to letters@ For newspaper delivery questions: 1-800-NYTIMES (1-800-698-4637) or email customercare@
Yahoo
37 minutes ago
- Yahoo
Minim Martap Development Update
Highlights Canyon has completed the first drawdown from its US$140 million Credit Facility with AFG Bank Cameroon Canyon secured the Credit Facility on excellent terms, demonstrating the confidence and standing of the Company's flagship Bauxite Minim Martap Project as a tier-one asset The first drawdown of XAF 15 billion (~US$26 million) before fees, will be used towards the purchase of rolling stock and progressing key infrastructure workstreams at Minim Martap Next major milestones include the completion of the updated Definitive Feasibility Study (DFS), on schedule to be released in August Canyon continues to successfully execute on a busy work program for 2025 and is in a strong position to commence production at Minim Martap in early 2026 for first bauxite shipment in 1H 2026 PERTH, Australia, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Leading bauxite developer Canyon Resources Limited (ASX: CAY) ('Canyon' or the 'Company') is pleased to provide a development update for its flagship Minim Martap Bauxite Project ('Minim Martap' or 'the Project'), located in Cameroon. The Company has completed the first drawdown from its US$140 million Credit Facility with AFG Bank Cameroon1 after satisfying the required drawdown conditions, with the initial drawdown of XAF 15 billion (~US$26 million) before fees, used to secure purchase of rolling stock for Minim Martap. Canyon recently placed orders for locomotives from CRRC Ziyang Co. Ltd (CRRC) and wagons from Texmaco Rail & Engineering Limited (Texmaco). The initial payments secure commitment of the key long lead items with CRRC and Texmaco, with first deliveries expected in Q1 2026 in line with the scheduled first bauxite shipment in 1H 2026. The drawdown will also be used by Canyon to progress key mine, haul road, rail and port infrastructure works, as the Company continues to work towards production start in early 2026. Looking ahead, the Company expects to complete the updated DFS in August. Importantly, Canyon continues to execute on its busy work program and strategic objectives at Minim Martap, with a focus on ensuring the Company becomes a near-term, key and reliable supplier of high-quality bauxite ore to a growing international market. Canyon Chief Executive Officer Mr Peter Secker commented: 'This drawdown enables us to move from planning into execution and is an exciting turning point for the Project, as we work towards the start of production in early 2026. With funding secured and procurement underway for locomotives and wagons, we're now advancing the infrastructure that will underpin long-term production at Minim Martap. 'This milestone is a strong vote of confidence in our team and project and importantly represents a tangible demonstration of our commitment to delivering a world-class bauxite project that brings lasting value to Cameroon and our shareholders.' This announcement has been approved for release by the Canyon's Board of Directors. Enquiries:Peter SeckerChief Executive OfficerCanyon Resources LimitedT +61 8 6385 2263E:info@ Cameron GilenkoInvestor Relations & MediaSodali & CoT +61 6160 4909E: Forward looking statements This announcement contains forward-looking statements. These statements can be identified by words such as 'anticipate', 'may', 'will', 'expect', 'intend', 'estimate', 'opportunity', 'plan', 'potential', 'project', 'seek', 'believe', 'could', 'future' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management that could cause the Company's actual results to differ materially from the results expressed or anticipated in these statements. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update or revise forward-looking statements, regardless of whether any new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and ASX requirements. 1 Refer to ASX announcement dated 26 May 2025 for the material terms of the Credit FacilityError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Qatar's LNG Warning Highlights Europe's Fragile Energy Strategy
The race has been on to secure new liquefied natural gas (LNG) supplies for Europe since Russia invaded Ukraine on 24 February 2022. LNG at that point became the key global emergency energy source as it is quick to secure and to move, unlike pipelined energy that requires time-consuming infrastructure build-out and contract negotiations before it can be moved anywhere. Europe was especially in need of such supplies to compensate for the energy it has bought for decades from Russia without questioning Moscow's long-term strategic motivation for offering such enormous quantities of cheap gas and oil. This was simply to ensure minimal pushback from Europe when President Vladimir Putin began his long-flagged objective to recapture those parts of Europe that were once part of the U.S.S.R., as analysed in full in my latest book on the new global oil market order. The strategy worked perfectly in 2008 with Russia's foray into the independent European sovereign state of Georgia, and again in the 2014 invasion and annexation of Ukraine's Crimea region – a practice run for what would happen in 2022. It would have worked as well in that year too, with early European dithering about taking any meaningful actions against Russia, but for the strong intervention of the U.S., Great Britain, and France, who could see that if this invasion of Ukraine was not opposed then the rest of Europe would follow. Staggeringly now, a crucial source of these compensatory LNG supplies to Europe – Qatar – is under threat from the continent's own sustainability law in question is the Corporate Sustainability Due Diligence Directive (CSDDD), which according to the official blurb: '[Aims to] foster sustainable and responsible corporate behaviour in companies' operations and across their global value chains. The new rules will ensure that companies in scope identify and address adverse human rights and environmental impacts of their actions inside and outside Europe.' It further requires firms to integrate sustainability into their core business strategies, address impacts on the environment and society, and establish transition plans aligned with the Paris Agreement's climate goals. All this is focused on European Union (E.U.) companies with over 1,000 employees and a worldwide turnover exceeding EUR450 million (USD514 million), and non-E.U. companies with a turnover exceeding EUR450 million within the E.U. Failure to adhere to some of its sharper strictures can results in extremely severe punishments for transgressors. One particularly eye-catching punishment is that companies found in breach of these conditions can be fined up to 5% of their global turnover or be required to compensate affected individuals and communities. Unsurprisingly, for those countries in a more emerging stage of development than those who drafted the law (that is, nearly most of the major oil and gas suppliers around the world), some of these conditions are problematic. For Qatar, they are apparently infuriating, with its Minister of State for Energy Affairs Saad al-Kaabi calling the legislation 'ridiculous' at a forum in Doha in December. He also threatened at that point to end all LNG supplies to the E.U. if any of his country's companies were subject to penalties by dint of the CSDDD. Matters have now escalated, according to a senior E.U. security source spoken to by last week, with a letter from al-Kaabi to the European Commission (the executive branch of the E.U.) reiterating the threat of cut-off from Qatar's LNG supplies if the Directive is not modified to ensure that its companies do not face any penalties. Equally unsurprisingly, according not the E.U. source, Europe is taking this threat very seriously. It should certainly do so, as Qatar has many more willing buyers for its LNG than Europe has sellers of the gas to choose from. In Europe's case, it took many months of very tough negotiations led by the U.S. to turn Qatar from a state whose main supply priority was China before the Russia invasion of 2022 to a 'major non-NATO ally' of the U.S. and its European allies as former President Joe Biden put it at the time, as also analysed in depth in my latest book on the new global oil market order. Information received by just after Russia invaded Ukraine in February 2022 from impeccable security sources indicated that China had been broadly told by Russia of its plans for a 'large-scale special operation' in Ukraine months before it happened, not just prior to the 4 February 2022 start of the Beijing Winter Olympics, as many reports have it. Indeed, China concluded several major LNG deals with Qatar a year before, beginning with the signing of a 10-year purchase and sales agreement by the China Petroleum & Chemical Corp (Sinopec) and Qatar Petroleum (QP) for 2 million metric tonnes per annum (mtpa) of LNG, and multiple similar deals followed. However, following hard negotiations with the U.S., May 2022 saw Qatar sign a declaration of intent on energy cooperation with Germany aimed at becoming its key supplier of LNG. These plans would run in parallel with, but were likely to be finished significantly sooner than, the plans for Qatar to also make available to Germany sizeable supplies of LNG from the Golden Pass terminal on the Gulf Coast of Texas. QatarEnergy holds a 70% stake in the project, with the U.S.'s ExxonMobil holding the remainder. Following on from these developments, December 2022 saw two sales and purchase agreements signed between QatarEnergy and the U.S.'s ConocoPhillips to export LNG to Germany for at least 15 years from 2026. As of now, Qatar remains a major LNG supplier to the E.U. – its third largest, in fact – having shipped around 10 million metric tonnes of the gas to the continent last year. As one of these three is Russia (in number two position, after the U.S.) – and the E.U. is considering phasing out all Russian LNG and gas entering it by the end of 2027 – Qatar's share was set to rise dramatically. This dovetails with the country's own plans to more than double its current 77 million mtpa production to 160 million mtpa by 2030. By that time, it will account for at least 40% of all new LNG supplies across the globe, making it even more of crucial energy and geopolitical ally to the West, and to China, Russia, and countries in their sphere of influence. Such a situation would leave the U.S. with a huge supply gap to fill very quickly, although industry projections are that its LNG supply will increase by at least 75 million mtpa (from over 90 million mtpa currently) by 2030. This would also accord with the recent E.U. pledge to buy USD750 million of U.S. energy in the next three years, with much of this increase expected to come from the LNG sector. That said, the E.U. may be at least as concerned by the fact that it would leave Europe's emergency energy supply almost entirely in the hands of Washington. Given President Donald Trump's comments about not even helping to defend fellow European NATO members from attack – as the U.S. is obliged to do by Article 5 of the Treaty -- if they do not increase their defence spending to what he considers a sufficient level, the E.U.'s leadership may ponder whether he would take the same view on the U.S.'s commitment to energy supplies to the continent as well should it be attacked by Russia. In short, the loss of Qatari LNG to Europe – and more supplies going to China -- would be catastrophic for Europe – and indeed for the broader Western Alliance even now. And it would be considerably worse if Beijing launches its own 'Special Military Operation' to 'reunite' Taiwan with its 'rightful motherland' mainland China in 2027 – the date Chinese President Xi Jinping has told his military to prepare for. By Simon Watkins for More Top Reads From this article on
