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News story: Anglo American’s Quellaveco in Peru is the UK largest investment

first_imgThe development phase of the project has an expected capital cost of US$5to US$5.3 billion and will be funded on an attributable basis: 60% by Anglo American and 40% by Mitsubishi.First production of copper is expected in 2022, ramping up to full production in 2023.Mark Cutifani, CEO of Anglo American, said: Anglo American this week announced the approval of its Quellaveco project, a world-class copper project in Peru.This announcement represents the UK’s largest investment ever in Peru, highlighting the UK’s long-standing commitment to the country. The investment will reach up to US $5.3bn, making the UK the largest foreign direct investor in the country.Colin Gray, Chargé d’Affaires at the British Embassy, said: Quellaveco is one of the world’s largest and most attractive undeveloped copper orebodies. After several years of extensive preparatory work, we are very pleased to develop the project together with our partners Mitsubishi. We are grateful for the strong support we have gained from our host communities and at the national level. Quellaveco should bring very significant opportunities and sustainable benefits to the lives of those we employ, our business partners, the surrounding region and Peru as a whole, for decades to come. Anglo American’s announcement is excellent news for Peru and for our bilateral relationship. This is a moment of pride and the culmination of many years of hard work. This project will create thousands of jobs and bring greater prosperity across the country. I offer my warmest congratulations to all those who have worked so hard to make it a reality. The support of local communities is the result of an innovative 18-month consultation with local authorities and community representatives from the Moquegua region. Through this ‘dialogue table’, Anglo American agreed 26 detailed and specific long-term commitments relating to water management, environmental protection and social investment. For example, by ensuring that the water required by the operation is drawn mainly from a river whose water is naturally unfit for human or agricultural use and additionally by collecting excess rainfall and sharing it with the communities, Anglo American is delivering on its promise of a positive water impact for local people and their livelihoods.For more information, please contact:British Embassy, ​​Lima:Gabriel Real de [email protected]: 617 3008last_img read more

Badgers sniff out win in ‘rat game’

first_imgUniversity of Wisconsin men’s basketball head coach Bo Ryan likes to use the term “rat game” to describe contests that get sloppy and out of hand. Wisconsin’s 71-58 victory over Michigan Wednesday night was just that.After a first half that saw Wisconsin and Michigan turn the ball over 12 and seven times, respectively, the second half didn’t prove to be much better.The Badgers jumped out to a 47-31 lead with 13 minutes left in the game, but then the game turned into a “rat game.”After Wolverines forward Brent Petway fouled out at the 12:43 mark and received a subsequent technical foul, the game’s pace turned into molasses.Petway’s foul was Michigan’s seventh team foul, but confusion over who was shooting free throws caused a long stoppage in play as Ryan, Michigan head coach Tommy Amaker and the referees attempted to figure things out.”The seventh foul was Petway’s, then the technical was the eighth,” Ryan said. “The technical foul can not cause a one-and-one [free throw], so then it was going to be the technical, then the one-and-one.”We solved it on our own; it was like being at the playground.”Amaker, however, wouldn’t agree so much.”I’m still not sure [what happened],” Amaker said.Yet Petway’s technical foul difficulty wasn’t the only stoppage of play in the second half.About two minutes on the clock later, Wolverines guard Jerret Smith went down hard after running blindside into a legal Marcus Landry screen.”He just didn’t see me,” Landry said. “It’s just a part of basketball, and hopefully he’s alright.”Smith lay on the floor for an extended period of a time, causing some Badger players to stiffen and cramp up due to the stoppage time. As a result, Ryan made his players run up and down the court to stay loose.”That’s actually what we do in practice,” UW junior forward Brian Butch said. “We have stoppages in practice like that, and he just has us jog down and back like that.”The downtime made for a groggy game, but Wisconsin was still able to pull out the win and improve to 20-1 on the season.”The main thing that we really care about is just getting a win,” Butch said. “We don’t care how we get it as long as we get a ‘W.'”Devin Harris sightingBadger-great and current Dallas Mavericks guard Devin Harris was in attendance Wednesday, sitting right behind Wisconsin’s bench.After the last media timeout of the first half, Harris was introduced at mid-court to a loud ovation, as everyone was happy to see him back.”It’s nice to see Devin there at the game,” Ryan said.Harris was sporting a No. 42 Tucker jersey, which made his good friend glad.”Me and Devin go way back; we’re good friends,” Tucker said. “Before the game, he told me he was going to go get the jersey. I told him he needs to get me a Dallas jersey now to be even.”Three years after forgoing his senior year to jump to the NBA, Harris still looks the same to his old coach Ryan.”Devin looks the same,” Ryan said. “He still looks like he’s in high school.”Badgers are streakingWith the win Wednesday, Wisconsin has now won its 16th straight game — the longest active streak in the nation.However, it means little to nothing for the Badger players at this point in time.”In the grand scheme of things, it really means nothing this year,” Butch said. “Right now, we’re taking it one game at a time.”Those are all great things to achieve, don’t get me wrong,” Butch continued. “I’m not trying to downplay them by any means, but right now we’re on a mission and just taking it game by game.”At 20-1, the Badgers equaled the best start in school history as the Wisconsin team of 1915-16 also went 20-1. In spite of that, Ryan doesn’t think a comparison is fair.”If our record can compare to a doctor’s…” Ryan joked, referring to then-head coach Dr. Walter Meanwell.”Well our players are excited, I know,” he continued. “It’s nice to get the next one.”last_img read more


first_imgMissing – Sean DiverA sighting of a missing man in Co Donegal has led to Gardai join the search.Sean ‘Smurf’ Diver has been missing from his Co Tyrone home since Wednesday but may have been spotted in the Lifford area on Thursday evening.The 39-year-old was last seen on Townsend Street in Strabane on Wednesday evening. The PSNI have been searching the River Mourne in Co Tyrone after a report that someone fell into the water on Wednesday night.Now Police say a man matching his description may have been spotted at the Old Railway Bridge in the Porthall area of Lifford at around 8.30am on Thursday.He is described as being 5’7” in height, of slim build and with dark brown hair.Mr Diver also has a tattoos on each side of his neck reading ‘mum’ and ‘dad’. When last seen, he is understood to have been wearing dark coloured tracksuit bottoms with red stripes on each side, dark footwear with white soles and either a dark red coloured hooded top with white writing on the chest, or a dark coloured jacket.MISSING MAN MAY HAVE BEEN SPOTTED IN DONEGAL was last modified: January 30th, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalmissingSean DuffystrabaneTyronelast_img read more

Mortgage Applications Retreat

first_img Mortgage applications saw a decline by 2.5 percent on a seasonally adjusted basis, compared to last week, according to the latest Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.”Mortgage rates for all loan types declined last week, with the 30-year fixed mortgage rate falling seven basis points to 4.69 percent – the lowest rate since April 2018,” said Joel Kan, AVP of Industry Surveys and Forecasts.The survey released on Wednesday revealed an increase in the index for mortgage applications by 12 percent on an unadjusted basis,  compared with the previous week. The Refinance Index Index increased by 0.3 percent while the Purchase Index decreased 5 percent from the week prior. Data indicated an increase of 13 percent, according to the survey.The volume of refinance loan applications decreased to 41.6 percent of total applications from 42.0 percent the previous week.  The adjustable-rate mortgage (ARM) share of activity decreased to 7.8 percent of total applications.”Despite more favorable borrowing costs, and after a three-week surge in activity, purchase applications have slowed over the past two weeks, and are now almost 2 percent lower than a year ago. However, moderating price gains and the strong job market, including evidence of faster wage growth, should help purchase growth going forward. Refinance applications saw a very slight increase compared to the previous week, despite the broad decline in rates, ” Kan said.In government loan applications, the FHA remained unchanged at 10.5 percent. The survey revealed a drop in VA share of total applications at 10 percent this week compared to 10.7 percent last week. The USDA share of total applications increased to 0.5 percent from 0.4 percent the week prior.Here’s how the average contract interest rates performed for various loans:For 30-year fixed-rate mortgages with conforming loan balances decreased to 4.69 percent from 4.76 percent the previous week. The rate for 30-year fixed-rate mortgages with jumbo loan balances decreased to 4.50 percent from 4.60 percent. FHA-backed 30-year fixed-rate mortgages decreased to 4.70 percent, from 4.77 percent. The 15-year fixed-rate mortgages decreased to 4.11 percent from 4.16 percent.The rate for 5/1 ARMs decreased to 4.04 percent from 4.14 percent.The effective rate for all the above loan types recorded a decrease from last week. February 6, 2019 3,672 Views Joel Kan MBA mortgage applications survey 2019-02-06 Donna Joseph Mortgage Applications Retreatcenter_img in Daily Dose, Featured, Market Studies, News, Origination, Servicing Sharelast_img read more