CALGARY – Sales of oil and gas drilling rights in Alberta delivered almost four times as much money for the provincial treasury in 2017 compared with 2016 but the total remained well short of the record.Alberta Energy reports receiving $18 million in Wednesday’s auction, the last of the year. That brings the total for 2017 to $504 million, 3.7 times as much as the $137 million in 2016. The record was $3.5 billion in 2011.The sales give oil and gas companies the right to drill exploration wells on land where the mineral rights are owned by the province. They are considered a key indicator of future drilling activity.Crown land sales were also up in British Columbia and Saskatchewan this year.Saskatchewan earned about $63 million in 2017, up from $53 million the year before but down from the record of $1.1 billion in 2008.B.C. earned $173 million, up from $15 million in 2016 but nowhere near the record $2.7 billion in 2008.
Van Oord is deepening and widening the access channel and turning basin of a large ore export facility in Nouadhibou, Mauritania.Two trailing suction hopper dredgers, one of which is owned by Van Oord, will be deployed for the dredging work.According to the company, Von Oord’s flagship HAM 318 is busy working in the area.It is the largest of this type of dredgers in Van Oord’s cutting-edge fleet. The vessel was extended by 52 meters to 228 meters at the COSCO shipyard in China in 2008. This increased its hopper capacity from 23,783 to 37,500 cubic meters.Mauritania is the second-largest exporter of iron ore on the African continent.The project supported by the European Investment Bank (EIB) and the African Development Bank (AfDB) consists in deepening and widening 25 km of the SNIM (Société nationale industrielle et minière) mineral terminal’s access channel.Thanks to the deeper and wider port access, ships with a capacity of up to 250,000 tonnes will be able to access the newly built berths.
435 total views, 3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 “The key to success is good strategic, dynamic asset allocation. We seek to participate in up-markets and protect in down-markets as we believe this is an effective way for investors to grow assets while experiencing reduced volatility.” Melanie May | 11 February 2020 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. 434 total views, 2 views today Barings converts dedicated charity fund to CAIF Tagged with: Finance Financial services firm Barings has converted its dedicated charity fund, the Barings Targeted Return Fund, to a Charity Authorised Investment Fund (CAIF).Barings Targeted Return Fund is a daily dealing fund with a minimum investment of £10,000. The new CAIF structure will bring cost benefits to clients by allowing for VAT to be waived on the management fee, while the Fund’s Annual Management Charge has been reduced from 0.5% to 0.4%, leading to a reduction in the fee by a third with the VAT benefits from the CAIF structure taken into account.As both an investment fund and registered charity, the move to the CAIF structure means the fund will now comply with both FCA and Charity Commission regulations.There will be no change to the investment process and the Fund will continue to be managed by Alison El-Araby and Malcolm Herring, who are supported by members of Barings’ Multi Asset Group.Malcolm Herring, Head of Charities in the Multi-Asset Group at Barings, and co-manager of the Fund said:“This change demonstrates Barings’ continued commitment to the Fund, bringing it up to date with the modern approved regulatory structure. The new structure and lowering of the Annual Management Charge make the fund a more competitive and compelling offer to our charity clients.”The Fund achieved a return of 13.7% (net of fees) in 2019. Since inception over a decade ago, the Fund has delivered a return of 7.0% per annum (net of fees). It targets income and capital returns that, after fees, exceed the Consumer Price Index (CPI) by at least 3% per year when measured over a full cycle of typically five to 10 years. This includes income exceeding the CPI by 1% per year.The Fund is constructed with asset allocation at the fore, with the portfolio comprising stocks and bonds from a range of companies, geographies and sectors. Environmental, Social and Governance (ESG) factors are incorporated throughout the investment process, at the overall asset class level and with individual investments. The Fund incorporates ethical considerations and does not invest directly in tobacco stocks.Alison El-Araby, Investment Manager in the Multi-Asset Group at Barings and co-manager of the Fund, added: Advertisement