The International Seabed Authority has signed its first exploration contract for seabed mining for 2016. The deal was signed with the U.K. Seabed Resources Limited (UKSRL) and involves a 15-year contract for the exploration of polymetallic nodules in the eastern part of the Clarion-Clipperton Fracture Zone in the Pacific Ocean west of Mexico. The area allocated to the contractor covers a total surface of 74,919 square kilometers (29,000 square miles).
Finally, the Posco India said it would not establish the proposed 12 million tonne capacity steel plant near Paradip in Jagatsinghpur district of Odisha. British-based investors in South Korean company Posco have included Barclays, Alliance Bernstein/Alliance Bernstein Global Wealth Management, Foreign and Colonial Investment Trust PLC, and Henderson Far East Income Limited.
The London-listed African subsidiary of Barrick Gold Corp. has engaged in a “sophisticated scheme of tax evasion” to dodge more than $40-million (U.S.) in corporate taxes, a Tanzanian tribunal has ruled.
The biggest plant of its kind in Britain has been generating electricity for 46 years, with closure marking ‘end of an era’ for coal power in Scotland.
