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Carney: New oil pipeline proposal for Canada highly likely
In an interview with the Calgary Herald published on Sunday, Prime Minister Mark Carney said that a new oil pipeline along the coast of British Columbia is likely to make the list of projects considered to be of national significance by the Canadian government. Carney stated in an interview on Saturday that "given the size of the economic opportunity and the resources, expertise, and knowledge we have that it's highly, highly probable that we will be proposing a pipeline as one of these national-interest projects." The Prime Minister said it was up to the private industry to come up with the idea, and not a government "top-down" approach, where they say "we want that, we want this." Carney, who attended the annual Calgary Stampede in Calgary, said he also supported a proposed C$16.5 Billion ($12.14 Billion) carbon capture system to be built for Alberta's Oil Sands. Carney's remarks come just weeks after the Canadian Senate passed a law to expedite approval of natural resource and infrastructure project. The bill expedites approval of projects of national importance, including oil pipelines and mines. It also eliminates certain trade barriers between provinces. Canada is the fourth largest oil producer in the world. Canada has put oil and gas projects on its list as it tries to reduce its economic dependency on the United States. It sends 75% of all exports there.
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Operator: Explosive device likely caused damage to Greek tanker near Libya last week
TMS Tankers, the Greek operator of the tanker, said that an external explosive device was most likely responsible for the explosion which damaged the Greek oil tanker Vilamoura last week as it was sailing near the coast of Libya. This conclusion is based on a preliminary investigation. On June 27, the Marshall Islands flagged tanker Vilamoura was leaving the Libyan port Zuetina to head to Gibraltar, with around 1 million barrels oil. An explosion occurred in the engine room. TMS Tankers stated that preliminary investigation findings indicate clearly that the explosion and subsequent fracture of side shell plating as well as the flooding of engine room was caused by an unidentified explosive. Security at sea Sources Last week, it was reported that a limpet-mine may have been responsible for the explosion on Vilamoura. This is the fifth incident of this kind to occur in the past few months in the area. After the explosion, the engine room was inundated and the vessel became unmanoeuvrable. However, it could be towed to Greece. The operator said in a press release that the vessel had arrived safely in Laconikos Bay, Greece, and that its crew was in good health. (Reporting and editing by Renee Maltezou)
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UK maritime agency reports that a ship was attacked in the Red Sea near Yemen.
An attack on a ship in the Red Sea, off the coast of Yemen's southwest coast, was launched by eight small boats using gunfire and grenades. A British maritime agency and a security firm confirmed the incident. The situation continues, according to the United Kingdom Maritime Trade Operations and British maritime security company Ambrey. The attack was not immediately attributed to anyone. This is the first report on the region by the agencies since the middle of April. The tensions in the Middle East are still high due to the conflict in Gaza, the 12-day Israel/Iran war that lasted for 12 days and the airstrikes conducted by the United States against Iranian nuclear sites. The UKMTO and Ambrey reported that the attack took place 51 nautical miles southwest from Yemen's port of Hodeidah. The ship was not named. Yemen's Iran aligned Houthis launched over 100 attacks against shipping in November 2023. They claimed they were acting as a solidarity with Palestinians regarding Israel's conflict with Hamas. The group has sunk two ships and seized another, killing at least four seafarers. This offensive disrupted the global shipping industry, forcing companies to change their routes, which in turn prompted the U.S. government to intensify its attacks against the group. In May, Donald Trump announced that the U.S. will stop bombing Houthis in Yemen. He said the group has agreed to stop interfering with important shipping routes in the Middle East. Oman stated in a press release at the time that the agreement stipulated neither the U.S. or the Houthis could target each other. This included U.S. vessels in the Red Sea, Bab al-Mandab, and the Bab al-Mandab strait. In June, the Houthis of Yemen threatened to attack U.S. vessels in the Red Sea in case Washington joined Israeli attacks against Iran. The Houthis have not stated whether they intend to follow through with their threat following the U.S. attack on Iranian nuclear facilities in late June. Reporting by Muhammad Al Gebaly, Jaidaa Taka; Editing by Alison Williams, Emelia Sithole Matarise
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The Defence Ministry reports that Russia has destroyed 120 Ukrainian drones in one night.
The Russian Defence Ministry reported that the anti-aircraft system of Russia had destroyed 120 Ukrainian drones over night, mainly in bordering regions, but there was no damage. Ukraine is increasingly using drones in its war against Russia, which has lasted more than three years. Defence Ministry reported that drones were intercepted over night in Belgorod, Kursk and western Bryansk regions. The Oryol area, bordering Kursk, has also been the target of previous Ukrainian drone attacks that targeted oil facilities. Rosaviatsiya (Russia's Civil Aviation Authority) has lifted the restrictions placed overnight at airports such as St. Petersburg, Kaluga and Moscow to ensure safety. (Reporting and editing by Helen Popper; Vladimir Soldatkin)
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China extends flight path over Taiwan Strait by a third time
China announced on Sunday that it had opened a third flight extension along the M503 route. This is located just west of a unofficial dividing boundary in the Taiwan Strait. Taipei reacted by saying this was an "unilateral move" aimed at changing status quo. Last year, China moved the M503 flight route closer to median line. This drew a similar angry response from Taipei. It said that any changes made to the flight routes and their extensions should be communicated and agreed upon in advance by both parties. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "in order for the civil aviation to improve the operational efficiency and further optimize the airspace, the W121 line will be used as a connection of the M503 route." In a recent statement, Taiwan's China Policy-making Mainland Affairs Council stated that mainland China had "used unilateral action to change the status quo" and to increase unrest in the region and across Taiwan Strait. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that this measure was taken to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was deemed "beneficial" for both sides. Taipei rejected the explanation, calling it "unjustified". It said that "the number" of international air travelers on the mainland had not recovered to levels before the COVID-19 pandemic. The Han Kuang military exercises will last 10 days. Taiwan is under increased pressure from China who considers Taiwan as their own. (Reporting from Yimou Le in Taipei and Marius Zaharia, Hong Kong; editing by Christian Schmollinger).
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China extends flight path over Taiwan Strait by a third time
China's Civil Aviation Authority said on Sunday that it had opened a third expansion of the M503 route. This flight route has been the subject of complaints by Taipei for many years due to its location just west of a unofficial dividingline in the Taiwan Strait. China moved the M503 route last year closer to the median, provoking an angry response from Taipei. It said Beijing was "packaging" civil aviation to serve political or military purposes, and potentially change the status quo of the Strait. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "to further optimize airspace and improve operational efficiency from now on, the civil aviation will use W121 connection lines of the M503 routes." Taiwan's China Policy-making Mainland Affairs Council has not responded to a comment request immediately. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that the measure was designed to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was "beneficial" for both sides. Han Kuang, which will last 10 days, is set to begin on 9 July. Taiwan, facing increased military pressure from China which views the island as its own. (Reporting and editing by Saad Saeed; Additional reporting in Taipei by Yimou Le.
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F-16 escorts aircraft out of the area after airspace violation near Trump's Golf Course
The U.S. military released a statement saying that an F-16 fighter jet intercepted on Saturday a general aviation plane that had violated the temporary restriction placed over the golf club of U.S. president Donald Trump in Bedminster in New Jersey. North American Aerospace Defense Command said that the incident occurred at 2:39 pm (1839 GMT) and marked the fifth unauthorised incursion into the restricted airspace Saturday. The jet's identity was confirmed by a spokesperson. NORAD released a press release stating that the NORAD aircraft performed a headbutt maneuver in order to attract the attention of the civilian pilot. The aircraft was then safely escorted away from the area. The White House did not comment immediately on the incident. NORAD reported several similar incidents over the past few weeks and urges general aviation pilots in that area to review all notifications. (Reporting and editing by Alistair Bell; Reporting by Andrea Shalal)
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Mayor of Moscow: Russian air defences shot down four drones heading for Moscow
The mayor of Moscow said that Russian air defences destroyed four Ukrainian drones heading for Moscow on Saturday. One of the main airports in the capital temporarily stopped outgoing flights. The mayor, Sergei Sobyanin, said that emergency services are working on the site of the drones which have fallen but did not give any information about potential damage. In a Telegram report, the Russian Defence Ministry said that air defence units destroyed 48 Ukrainian drones over a five-hour period on Saturday evening. Five drones were in the area surrounding Moscow and two others were heading for the capital. According to the report of the Defence Ministry, the total consisted of 17 drones flying over the Bryansk Region near the Ukrainian border as well as 11 in the adjacent Oryol Region. Belgorod region governor, on the border, said that four Ukrainian drones injured a driver of a bus and a driver of a car. A report from the Defence Ministry stated that 94 drones were destroyed in Russia over night on Saturday, and 45 others within six hours of each other during the day. The Sheremetyevo Airport in Moscow reported delays after flights had been temporarily halted. Civil Aviation Authority Rosaviatsiya stated that the measures were taken as a result of "restrictions", over the capital's skyspace, as well as high winds. Rosaviatsiya reported that incoming and departing flights were temporarily halted at airports across Russia, including Pulkovo Airport in St Petersburg, due to safety concerns. (Reporting and editing by Jan Harvey, Diane Craft and Lucy Papachristou)
Mali's Barrick hardball talks are being driven by two former Barrick employees
According to sources familiar with the discussions, two former Barrick Gold executives who have inside information about the Canadian miner's operations in West Africa help drive Mali's demand for a payment from the Canadian company of approximately $200 million.
Mamou and Samba Toure were both employed by Randgold in Mali, now part of Barrick, which is a mining firm.
Mali's military government, which seized in December three metric tonnes of gold worth approximately $245 million from Barrick, has given miners until Saturday midnight to respond to their demands.
According to a source with knowledge of the situation, it wants Barrick pay back taxes totaling 125 billion CFA Francs ($199m) according to a source.
Source: If the deal is finalised Mali will return the gold seized and release the four Barrick executives who have been detained since November.
Barrick has publicly announced that he is a member of the Barrick
rejected
The charges brought against its employees are not specified. According to the court documents reviewed by, these include money laundering and funding of terrorism.
Barrick declined to answer any questions regarding the current status of the negotiations, and the Mali mines ministry also did not respond.
The dispute will have ramifications on global miners, foreign investors and others who have invested billions of dollars in West Africa. They are now being forced to follow a different set of rules because the military governments of Mali Niger and Burkina Faso want a larger share of mining revenue.
Beverly Ochieng is senior analyst at Control Risks for Francophone Africa. She said that the standoff with Barrick shows just how far governments led by military forces in the Sahel region are willing to go in order to force foreign operators to adhere to new regulations aligned with their pursuit of resource nationalism.
We spoke with more than 20 people, including mining executives and consultants, diplomats, and people who had direct knowledge of the discussions, to get a better picture of the negotiation. Sources requested anonymity due to the sensitive nature of the situation.
Nine people with knowledge of the situation say that the two Toures form part of a small group on the Malian front, including junta chief Assimi Goita and the Minister of Finance and Economy Alousseini Sanou.
They are not related, despite sharing a common surname. Samba Toure was older than the other two men by several decades and was West Africa Operations Director at Randgold. Mamou worked as underground manager at the Loulo Mine.
Sources said that Mamou is the most influential negotiator in Mali due to his close relationship with the powerful Finance Minister Sanou.
Mamou’s Iventus consultancy won the contract for auditing foreign mining companies in Mali. This led to the new mining code of 2023 and the renegotiation of the miner's contracts. Samba works now for him in the consultancy.
Mamou is the current boss, said a former co-worker. Samba's technical and managerial expertise was still crucial to decision making. "The decisions are made more by Samba than Mamou."
Mamou responded to detailed questions by saying that gold production has not benefited the Mali people as it should for many decades. Mali is Africa’s second largest gold producer.
He said, "It's only natural for the state to ask for a correction." "The state made great efforts to reach an accord, which is the reason all other companies reached an agreement with state."
Samba Toure has not responded to a comment request.
ACRIMONIOUS TALKS
Barrick's talks have been acrimonious, while other Western miners, including Canada's B2Gold, Allied Gold, and Australia's Resolute, have reached deals with Mali over the past few months.
Legal disputes, arrests, nationalisations, and threats are being used by the military governments of Mali, Niger, and Burkina Faso to strengthen their ties with Russia and gain greater control over gold and uranium.
Ochieng of Control Risks, however, said that this did not mean Western operators would be unwelcome. She said that several western mining companies were allowed to expand their operations and acquire new assets, provided they met the latest taxation and regulatory demands.
The Mali junta, which will take power in 2020 has pledged to examine its mining industry so that the state can benefit from gold prices at record highs.
Some companies, such as B2Gold, were able to reach an agreement quickly. Some companies, such as Australia's Resolute whose CEO was arrested while in Mali to hold talks, took a little longer.
B2Gold said it would proceed with its planned investments at its Fekola complex this year after achieving the deal. Resolute said on Thursday that its deal with the Mali government would allow for better collaboration as the mine is developed.
The relationship with Barrick deteriorated in the last year. Barrick paid 80 million dollars to release four Malians who were arrested by the authorities in September. Mali demanded more payments, as it is owed a total amount of $350 million.
Barrick generated $949m in revenue in the first nine-month period of last year from its operations in Mali.
Bristow announced in early November that it had agreed to offer Mali 55% economic benefits from the Loulo-Gounkoto mining complex, similar to the agreement struck by the miner with Tanzania five years earlier.
Mali demanded that the remaining amount be paid in one go, rather than in installments. Mali began to block Barrick's imports in early November.
Mali claims that Barrick still has 125 billion CFA Francs to pay after discounting VAT credits.
Mali issued a warrant of arrest for Barrick CEO Mark Bristow in December 5 after four Barrick employees were again detained when no payment was received.
Contacts continued in the background. On Dec. 6, a source who spoke with Barrick senior management said that Barrick was on the verge of paying a second 50 billion CFA tranche. The payment never materialized and the conversation ceased. On Tuesday, formal talks resumed.
Freddie Brooks is a metals & Mining analyst at BMI. A FitchSolutions Company. He said that Barrick, under Bristow, had the highest level of tolerance for operational risks among major miners.
He said that if they failed to negotiate a deal with Mali's junta military, it wasn't for lack of effort.
CLASHES WITH BRISTOW
Samba Toure left Randgold nine years ago, after an argument with Bristow who was the CEO at that time.
Samba's rift grew after he resigned and was denied the right to sell his Randgold shares, based in London.
Mamou Toure left Randgold after a dispute in 2015 with Bristow regarding the use of foreign contractors.
Barrick declined to comment on the circumstances surrounding the Toures departure.
Mamou's company Iventus Mining won the consulting contract when the government announced that it would audit the mines. Two sources claim that Samba Toure was the one who led the audits.
Samba became chairman of the board in 2022 after Mali established a state-owned mine, SOREM. Mamou was appointed as a member.
However, the influence of Toures cannot be denied. Last summer, junta leader Goita grew frustrated with the negotiations and brought in the director of state security, Modibo Kone, one of the five colonels-turned-generals who lead the junta, one source said. Kone's participation in the talks was confirmed by a second source.
According to a source familiar with these talks, at least once, the Finance Minister has taken over the negotiations and told Mamou to step down when he had gone too far in his requests.
Five sources claimed that the Mines Minister, a technocrat without any military ties, had been marginalized. Mamou, however, denied this, pointing out that the ministry has two members on the commission. He said that the commission receives its orders both from the Finance Ministry and the Mines Ministry.
The Mali finance ministry and the presidency have not responded to any requests for comment. The state security service could not be reached.
Special Forces Raid
Stockpiles of gold were increasing in the "gold room" located at Loulo-Gounkoto's complex, despite exports being banned.
According to a court order dated Jan. 2, Barrick had just over 3 tons of gold in its vaults as of Dec. 27.
Unannounced, a helicopter arrived at the landing strip of the mine complex in mid-morning Jan. 11. One source said that four special forces soldiers and a customs officer, along with two officers from the state mining department and other plainclothes personnel, disembarked the helicopter and handed paperwork to Barrick employees authorizing them to seize gold.
The source added that the second shipment was made in the evening.
The gold that Barrick's mines seized is currently in the vaults at the Banque Malienne de Solidarite, a state-owned bank in Bamako. The bank declined comment.
Barrick, the company that confirmed the seizure, has announced it will suspend operations at Loulo-Gounkoto.
According to the Jan. 2, order, the seizure of Bristow's and other Barrick employee's property was taken as a precautionary measure in connection with the money laundering charges and other unspecified crimes against Bristow.
Two sources claim that Barrick has resisted the government's request to migrate to the 2023 mining code due to increased taxes.
Barrick's mining license will be renewed next year. The government has indicated that it may refuse the permit.
A source who had previously consulted with the Malian government said that the government wanted leverage in the negotiation while the company was looking to secure a long-term contract renewal at favorable terms.
The person stated, "I don't think they trust each other but no one is interested in a split-up."
Some investors are predicting a difficult road for Barrick Mali. They even think the company may lose its assets.
Martin Pradier is a materials analyst with Veritas, a Toronto-based investment research firm that covers Barrick. The exchange rate is $1 = 626.7500 CFA francs. (Additional reporting from Tiemoko and Fadimata in Bamako. Writing by David Lewis, Portia Crowe and Daniel Flynn. Editing by Silvia Aloisi, Veronica Brown, and Daniel Flynn.
(source: Reuters)