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☆ China urges 'high vigilance' over NATO expansion in Asia
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 4 (Reuters) - China said on Thursday "high vigilance" was needed in the face of NATO's "eastward expansion" following a media report the alliance is planning to set up an office in Japan to facilitate consultations with allies in the region. NATO is planning to open its first liaison office in Asia, in Japan, to facilitate talks with security partners such as South Korea, Australia and New Zealand, with geopolitical challenges from China and Russia in mind, the Nikkei Asia reported on Wednesday, citing Japanese and NATO officials. The Nikkei Asia said the proposed office was due to open next year in Tokyo. Asked about the Nikkei Asia report, NATO spokesperson Oana Lungescu said earlier the alliance would not go into details of NATO allies' deliberations. Reporting by Yew Lun Tian; writing by Ryan Woo; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Barrick has been building its copper business organically and said it is exploring copper drilling opportunities in countries such as Chile and Argentina. "We have always said that if you want to be relevant as a gold miner you have to be in copper business," Bristow added. Gold is often a byproduct of copper, a critical metal required for electrification and the transition to a greener economy. Teck last month withdrew its plan to split its coal and metals business after it failed to secure shareholders' approval. Bristow said Glencore's proposal made a "lot of sense" as Glencore could handle Teck's debt and had offered a clean split of Teck's business.

☆ Factbox: Lu Shaye: Chinese envoy who questioned Ukraine's sovereignty no stranger to controversy
▼ + stars: | 2023-04-24 | by ( Yew Lun Tian | ) www.reuters.com time to read: +3 min

It is not the first time Lu Shaye, 58, a prominent practitioner of China's abrasive 'wolf warrior' diplomacy, has courted controversy since taking up his post in Paris in 2019. A transcript of Lu's remarks posted on the Chinese embassy's official WeChat account were subsequently deleted. Asked about Lu's comments on Monday, China's foreign ministry spokesperson Mao Ning said Beijing respects the sovereignty of all former republics of the Soviet Union, which was dissolved in 1991. Lu said that Taiwanese people had been brainwashed by ideas about independence, and that they can become patriots after being "re-educated". Beijing repeatedly criticised western countries for mismanaging the COVID-19 pandemic by not doing enough to prevent the virus from spreading.

☆ Canadian dealmakers expect low-carbon shift will drive mining M&A
▼ + stars: | 2023-04-20 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

TORONTO, April 20 (Reuters) - Canadian advisors to mergers and acquisitions (M&A) expect a shift toward low-carbon technologies and government subsidies for them will spur dealmaking in mining for years to come and some are already gearing up for it. Clients are hiring mining people within dealmaking teams, and boutique M&A advisory firms are adding talent, mostly in mining, he said. Canada this year expanded an investment tax credit to equipment needed by mining companies - and any other companies in the EV supply chain - to extract or process critical minerals. For copper and nickel deals, it was the best quarter on record since at least 1990, the data showed. "Mining is one of those sectors where you really want to be prepared for the inevitable market pickup."

☆ Big copper deals to take centerstage in Santiago as demand heats up
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Lundin Mining Corp (LUN.TO) is paying nearly $1 billion for control of Chile's Caserones copper mine despite ongoing political uncertainty in the country. "The green transformation theme remains a strong tailwind for copper, the king of green metals," Saxo Bank strategist Ole Hansen told Reuters. Global copper demand expected to reach 53 million tonnes annually by 2053 - more than double current levels - but supply is still expected to fall short, according an S&P Global (SPGI.N) study. And Hudbay Minerals Inc (HBM.TO) last week said it would pay $439 million for rival Copper Mountain Mining Corp (CMMC.TO). Neighboring Peru, the world's second-largest copper producer, also expects to boost production this year.

[1/2] A train loaded with copper cathodes travels along a rail line inside the Chuquicamata copper mine, which is owned by Chile's state-run copper producer Codelco, near Calama city, Chile, April 1, 2011. Lundin last month agreed to pay $950 million for 51% control of the mine, calling the deal "an endorsement that we believe the mining royalty and taxation discussions are trending in the right direction." In the past 18 months, mining giants have been vocal about concerns in Chile. BHP Group Ltd (BHP.AX) said it might reevaluate its investments depending on new tax plans by the government, while Freeport-McMoRan Inc (FCX.N) has said it would pause expansion plans in Chile, citing political uncertainty. Lundin remains confident in the future of the Caserones project, which began operations in 2014 and has annual output of 100,000 tonnes of copper.

☆ EU cannot trust China unless it seeks peace in Ukraine -Borrell
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - European Union foreign policy chief Joseph Borrell said it would be hard for Europe to trust China if it did not try to find a political solution to the Ukraine crisis. "Neutrality in the face of the violation of international law is not credible," Borrell said, adding an appeal for Chinese President Xi Jinping to speak to Ukrainian President Volodymyr Zelenskiy and for China to provide more humanitarian aid to the Ukrainian people. Xi has met Russian President Vladimir Putin twice but not spoken with Zelenskiy since Russia invaded Ukraine in what Moscow calls a "special military operation" in February 2022. China stated its opposition to attacks on civilians and on nuclear facilities in position paper on Ukraine published in February, but it has refrained from openly criticising Russia for its actions in Ukraine. Reporting by Yew Lun Tian in Beijing; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

[1/2] German Foreign Minister Annalena Baerbock speaks during a joint press conference with Chinese Foreign Minister Qin Gang (not pictured) at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSApril 14 (Reuters) - European foreign policy officials sought to present a tough stance against China's threats over self-ruled Taiwan on Friday, after comments by French President Emmanuel Macron drew a backlash for being perceived to be weak. While many of the remarks were not new, the timing of their publication, and their bluntness, annoyed many Western officials. "The European Union's position (on Taiwan) is consistent and clear," Borrell said in his prepared remarks. "President Xi's visit to Moscow has demonstrated that no other country has a bigger influence on Russia than China," said Baerbock.

"China was initially in discussions to be part of the project," the official said, declining to be named as the information was deemed sensitive. China has since banned the sale and consumption for food of wildlife animals. China's public security organs have handled more than 70,000 criminal cases involving wild animals from 2020-2022, confiscating 1.37 million wild animals in the process, state news agency Xinhua has reported. SLOW STARTThe SAFE project surveys only began in October last year, when the project's assessors visited Khao Kheow zoo and a cafe in Thailand. The wet markets targeted are markets where wild animals are sold alongside fresh meat and vegetables.

BEIJING/TAIPEI, April 11 (Reuters) - China's latest military drills near Taiwan show it is serious about being able to cut off the democratically ruled island in a conflict, analysts said, as Beijing said its aircraft carriers could "shatter" defences from the east. 1) Carrier OperationsMany analysts noted the jets flying off the Shandong aircraft carrier, which took up position east of Taiwan, about 230 kilometres (143 miles) south of Japan's Miyajima island. The aim of the drills was to show that they could encircle Taiwan in a blockade and deter foreign powers from intervening, Zhao said. 3) Precision TargetingThe PLA also said it carried out virtual simulations showing how its forces could execute targeted missile attacks on Taiwan. Japan's military said in a briefing on Tuesday that it was assessing China's manoeuvres around Taiwan, but described them as "without question, serious training".

[1/5] Alec Hsu shows to the camera patches depicting a Formosan black bear holding Taiwan’s flag and punching Winnie the Pooh at his store in Taoyuan, Taiwan April 10, 2023. The patch shows an angry Formosan black bear holding Taiwan's flag and punching Winnie the Pooh, with the slogan "Scramble!" The endangered Formosan black bear is seen as a symbol of Taiwanese identity. China claims democratically governed Taiwan as its own territory and has not ruled out taking the island by force. While the Winnie the Pooh patch cannot be found on Chinese social media, Beijing has also been promoting videos and commentary about its drills around Taiwan.

Noah Barkin, an analyst with the Rhodium Group, said China's chief objective was to prevent Europe from aligning more closely with the United States. Macron travelled to China with European Commission chief Ursula von der Leyen, both pressuring China on Ukraine, but failing to wrest any public shifts in position from Xi. Xi did not mention a possible conversation with Zelenskiy in China's official reports of his comments after the meetings. "Macron seemed to believe he could charm Xi into shifting his approach on the war," he said. "China and Europe can still be partners," said Wang Yiwei, director of Center for European Studies at Renmin University in Beijing.

☆ Unstable markets drag Canadian M&A, debt issuance to four-year low
▼ + stars: | 2023-04-06 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

The collapse of regional banks Silicon Valley Bank and Signature Bank in the U.S. tightened credit market making funding difficult for deals. As the banking crisis abate and many global central banks move to the sidelines to assess the impact of rapid interest rates hikes, bankers are, however, betting that appetite for dealmaking would return. Canadian M&A volumes totalled $34.7 billion in the first quarter, down 52.3% from a year ago, with dealmaking off to the worst start since the same period in 2020. Some market participants noted the second quarter is already off to a stronger start, with the mining sector gathering momentum. Abeed Ramji, head of Canadian Debt Capital Markets at TD, said the lack of issuance from banks impacted the corporate debt market, adding that global markets had become more expensive for financing.

☆ Energy, industrial stocks lift TSX; Lundin Mining jumps
▼ + stars: | 2023-03-28 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

"But here it seems the market likes the deal and is giving a thumbs up with respect to the acquisition." ET (14:10 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 61.34 points, or 0.31%, at 19,686.08. Energy stocks (.SPTTEN) added 0.8%, tracking oil prices amid supply disruption risks from Iraqi Kurdistan. Still, the bourse is up for the quarter underpinned by gains from January as equities bounced back from previous year's losses. Reporting by Johann M Cherian in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. due diligence firm Mintz Group says Beijing office raided, staff detained
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and that five Chinese staff have been detained. "We can confirm that Chinese authorities have detained the five staff in Mintz Group’s Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. “Mintz Group received no advance notice of the actions taken in Beijing this week, nor has the company received any official legal notice regarding a case against the company. The company's website says Mintz Group has 18 offices around the world and hundreds of employees. Western due diligence companies have gotten into trouble with Chinese authorities before.

☆ US due diligence firm Mintz Group says staff detained in China after office raid
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +3 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum. "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. "Mintz Group has not received any official legal notice regarding a case against the company and has requested that the authorities release its employees," the company said. 'RED ALERTS'As per Mintz Group's website, the Beijing office is its only one in mainland China. Western due diligence companies have gotten into trouble with Chinese authorities before.

March 22 (Reuters) - Russian President Vladimir Putin hosted Chinese President Xi Jinping for a two-day summit in Moscow this week. UKRAINEPutin said Chinese proposals could be used as the basis of a peace settlement in Ukraine, but nothing emerged from the meeting to tie his hands militarily. Bottom line: The agreed summit language suits Putin's purposes, enabling him to continue fighting while saying he is open to talk peace. Bottom line: Russia is still waiting on a deal and China has powerful leverage to secure advantageous price terms. Putin said Chinese companies would be first in line to replace Western companies that have quit Russia.

☆ China protests 'vile' Taiwan visit by German minister
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +3 min

China views democratically governed Taiwan as its own territory and has ramped up military, political and economic pressure to assert those claims. The politically sensitive visit is taking place as Berlin is reviewing its previously close ties with China. In January, a visit to Taiwan by a delegation of high-ranking lawmakers from the liberal Free Democrats (FDP), the smallest party in Chancellor Olaf Scholz's three-way coalition, also led to protests from Beijing. "It is a great pleasure and honour for me to be the first minister heading a specialist government department to visit Taiwan in 26 years," she added. Given the sensitivity of the trip, Stark-Watzinger is not scheduled to meet Taiwan President Tsai Ing-wen.

International researchers published a pre-print report based on their interpretation of the data on Monday, after leaks of their findings in the media last week and a meeting with the World Health Organization involving both the Chinese and international scientists. The data comprised new sequences of the SARS-CoV-2 virus and additional genomic data based on samples taken from the Huanan market in Wuhan in 2020, according to the international researchers who accessed it. "This adds to the body of evidence identifying the Huanan market as the spillover location of Sars-CoV-2 and the epicentre of the COVID-19 pandemic," said the report. As of March 11, it was no longer accessible on the database, where it was found by the international scientists, their report said. "Other raw sequencing data from environmental samples from the Huanan market exist and could contain further clues," Debarre told Reuters.

☆ Analysis: China's Xi takes 'diplomatic dance' to isolated Russia
▼ + stars: | 2023-03-18 | by ( John Geddie | ) www.reuters.com time to read: +5 min

"There's been kind of an increasingly pronounced diplomatic dance on China's part as the war has played out," said Andrew Small, senior fellow at the German Marshall Fund. The U.S. and European leaders have said intelligence showed China was considering sending arms to Russia, which Beijing has denied. Xi called Putin his "best friend" during a 2019 visit where they admired pandas in a Moscow zoo. It is not clear if there will be any such photo ops this time amid more serious business and the bloody Ukraine war. "Whatever support Xi gives to Russia will be on China’s terms," another European diplomat said.

☆ Analysis: China's Xi takes 'diplomatic dance' to Russia
▼ + stars: | 2023-03-18 | by ( John Geddie | ) www.reuters.com time to read: +5 min

Following are some of the issues China and others are likely to be taking into account as it considers prospects for peace in Ukraine. Attempting to broker peace is a low-cost venture that can yield high returns for China, even if a quick breakthrough is highly unlikely, analysts say. The plan got lukewarm welcomes in both Russia and Ukraine while the United States and NATO were sceptical. China expanded trade with Ukraine after Russia invaded Crimea in 2014 and did not recognise the annexed territory as Russian, he said. Days before Russia invaded Ukraine, China and Russia announced a "no-limits" partnership.

According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. Qilai Shen | Corbis Historical | Getty ImagesA record number of people in China took the civil service exam this year, as unemployment among young people soared. According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. China's National Civil Service Administration could not be reached for comment despite multiple attempts by CNBC. However, Xi and other senior leaders did not need to take the civil service exam to gain their current roles.

Li, installed as premier on Saturday during the annual session of China's parliament, is tasked with reviving the world's second-largest economy after three years of COVID curbs. But he faces challenges including weak confidence among consumers and private industry, sluggish demand for exports and worsening relations with the United States. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. At the opening of the annual parliamentary session, China set a GDP growth target of 5% percent, its lowest goal in nearly three decades, after the economy grew just 3% last year. China's relations with the United States sank to a low after U.S. House Speaker Nancy Pelosi visited Taiwan in August 2022.

☆ Factbox: Key takeaways from China's annual NPC parliamentary meeting
▼ + stars: | 2023-03-13 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

These include Premier Li Qiang, NPC Chairperson Zhao Leji, Executive Vice-Premier Ding Xuexiang, and Vice President Han Zheng. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. The new national financial regulatory administration will replace the existing banking and insurance watchdog and oversee all aspects of China's $57 trillion financial sector apart from the securities market. A separate top-level party financial watchdog, the Central Financial Work Commission, is likely to be resurrected after the NPC, sources earlier told Reuters. This will likely have responsibility for the new state financial regulator.

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