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...Ramu site had lain dormant for four decades, as a series of Australian firms calculated that the low-grade nickel wasn't worth extracting in such a remote area rife with shifting clan allegiances. But Ramu NiCo, the subsidiary of China Metallurgical Group that has developed the mine, thought it could succeed where others were afraid to try. In 2007, Ramu NiCo dispatched battalions of Chinese workers, who macheted their way through dense foliage and built a mirage-like Chinatown where elephant grass and kwila trees used to be. Today, in what was a malarial stretch of hills and valley...
...Most notably, the company has agreed to a 2.5% ownership stake in the mine for a group of local landowners, although many others say they have been iced out of the deal. "For Chinese and Papua New Guineans, who are from such different cultures, it will naturally take some time for us to truly understand each other, and sometimes it is not easy," says Wu Xuefeng, deputy general manager at Ramu NiCo. "Our proposal to tackle all these challenges is to address them within our overall sustainability development framework, [and] we are glad that we have been improving along...
...China's largely Muslim Xinjiang region. The next month, riots against Chinese traders broke out in the Algerian capital Algiers, where residents accused the foreigners of failing to respect Islam. Last year, nine Chinese oil workers living near the Darfur area of Sudan were kidnapped by an unknown group. Five were later killed. An international trade embargo because of the unfolding genocide in Darfur may have kept most other foreign investors out of Sudan, but China consumes more than 60% of Sudanese oil. For a government keen on keeping economics and politics separate, Beijing is finding that the two have...
...government offer - because of the risks involved. Operating in Iraq means investing billions in an unstable country where foreign oil workers are routinely kidnapped and insurgents have blown hundreds of holes in pipelines. Rochdi Younsi, until last month the director of Middle East and Africa for the Eurasia Group in Washington, told TIME that the auction was "a fiasco and embarrassment," saying that the government "thought oil companies would do absolutely anything to get into Iraq...
...years in what is believed to be one of the world's four largest fields with potential reserves of about 65 billion barrels. Though it will earn only $2 a barrel, BP says it aims to keep expenses down by using low-cost Chinese labor and equipment. The group promised Iraq's government that it will nearly triple the field's output from 1 million barrels a day to about 2.8 million barrels a day in just seven years. "We see this as the beginning of a long-term relationship," BP's chief executive Tony Hayward said in a statement...