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NZ Funds says uranium bet returns over 300% profit
  + stars: | 2023-11-23 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +3 min
Uranium is a key input in the production of nuclear energy. NZ Funds said the rise in the uranium price in this time had boosted the returns of its existing options positions by as much as 362% so far. "The drive for an energy transition has increased positive sentiment towards nuclear energy. "NZ Funds have the in-house infrastructure and investment team, along with world-class expertise from our partners at Syzygy to support these types of investments," said Mark Brooks, senior portfolio manager at NZ Funds. Nuclear energy is responsible for 10% of the world's power generation, EIA website statistics show.
Persons: Syzygy, Goldman Sachs, William Callanan, Mark Brooks, Nell Mackenzie, Amanda Cooper, David Evans Organizations: U.S, Reuters, Wednesday, Funds, Technological, Senate, Fuel Security, Uranium, NZ Funds, U.S . Energy Information Administration, EIA, Thomson Locations: Russia, China, Japan, Ukraine, United States, U.S, Canada, Kazakhstan, Uzbekistan
NEW DELHI—Secretary of State Antony Blinken held his first face-to-face conversation with his Russian counterpart on the sidelines of a meeting of foreign ministers from the Group of 20, while Russia and China blocked the gathering’s effort to condemn Russia’s invasion of Ukraine. The summit in India’s capital on Thursday was aimed at addressing some of the world’s most pressing challenges, from food and fuel security to counternarcotics and climate change. While the bloc reached agreement on many of those issues, the war in Ukraine proved itself an obstacle to any genuine consensus among members of the world’s 20 largest economies, raising questions about the effectiveness of the forum.
London Mayor Sadiq Khan speaks during the opening of the C40 World Mayors Summit to bold action on climate change, in Buenos Aires, Argentina October 20, 2022. REUTERS/Tomas CuestaBUENOS AIRES, Oct 20 (Reuters) - London Mayor Sadiq Khan, speaking at a climate summit in Argentina, slammed global policymakers on Thursday for "dragging their feet" on environmental policy, amid fears that momentum to tackle climate change has stalled in the face of economic turmoil. Climate Change Conference, known as COP27, with concerns over fuel security and rising costs exacerbated by the war in Ukraine overriding climate goals. A report on Wednesday from global nonprofit research group World Resources Institute found that current global plans to fight climate change, known as nationally determined contributions, would fall well short of Paris Agreement targets. "The climate emergency isn't a tomorrow issue, it's right here today on our doorstep," Khan said.
Raising domestic coal output is consistent with Beijing's broader effort to indigenise supplies of critical energy sources, raw materials and technology. Production has been growing faster than coal-fired electricity generation as the government tries to increase fuel stocks and cut reliance on imports. Imports of coal and lignite have also fallen to 168 million tonnes in the first eight months of 2022, from 198 million tonnes in 2022 and 220 million tonnes in 2019. Coal imports include both high-grade coking coal for blast furnaces as well as lower-grade coal for use in power plants. Low levels of hydro generation forced China to rely more heavily on coal-fired units and draw more heavily on coal supplies since the start of July.
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