did a Greenland minister plan to visit Taiwan? [UPDATE: yes he did]

In a mystifying exchange at the regular Chinese foreign affairs ministry press conference, someone asked spokesman Geng Shuang 耿爽 if China had forced Greenland’s trade minister to cancel a visit to Taiwan last November. Here’s Geng’s answer, as published by the English-language MFA website (it matches the Chinese version just fine):

We stand firmly against any forms of official contact and interaction between Taiwan and countries that have diplomatic ties with us. The Chinese side appreciates Denmark’s adherence to the one China principle. As Denmark’s autonomous constituent country, Greenland should follow the foreign policy upheld by Denmark.

So, was a visit to Taiwan planned and then cancelled? A delegation including Vittus Qujaukitsoq, the Greenland minister (naalakkersuisoq) whose portfolio includes trade, certainly was all around China in late October and early November last year, as I reported at the time. They were in places as distant as Qingdao and Chongqing promoting different Greenlandic products, so it would have made perfect sense to go to Taiwan as well. Only without the minister, since taking an official to Taiwan would obviously generate a crisis with China.

As it happens, a Greenlandic trade delegation did visit Taiwan, only without the minister and while he was in China. In written comments to Sermitsiaq, the relevant Greenland government department denies there were any plans for the minister to go to Taiwan, a decision they took of their own accord rather than under Chinese pressure, even while they are “acquainted” with the One-China policy (i.e. the contention that Taiwan is a Chinese province).

It’s hard to imagine anyone in Greenland would have considered sending a minister to Taiwan, which makes Geng’s answer, without denying Chinese pressure to prevent a visit, only more mysterious.

[UPDATE, Jan 7: The mystery has been solved. Berlingske now says it was them who asked the question at the MFA press conference. Invitations had been sent for a ‘Greenland Day’ event in Taipei the minister would attend, but the he didn’t go, after China showed unease. The event proceeded without him.

And indeed, after reading the Berlingske story I went to the Facebook page of the Danish Trade Council in Taipei, where as late as October 19 a post linked to invitations to the event at the Taipei Regent, in English and Chinese, “on behalf of the Greenlandic delegation headed by the Ministry of Industry, Labour and Trade, and Foreign Affairs, Vittus Qujaukitsoq.” The minister was scheduled to open the event with a “welcome” at 9AM.

It’s quite remarkable the visit was organised thinking the Chinese wouldn’t notice or care, considering how much the Greenland gov’t care about cultivating relations with China. This has probably been Greenland’s first lesson on China’s ‘core interests’.]

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China’s CNOOC now only player in Iceland oil

Ithaca Energy and minor partners Petoro and Kolvetni have handed back their oil and gas exploration permit for a sector of the Icelandic Jan Mayen area after seismic exploration yielded disappointing results. Another license holder, Faroe Petroleum, had already given up already in late ’14. That leaves only one active license, whose operator and majority owner is China’s state-owned CNOOC (中海油), in partnership with local company Eykon and Norway’s Petoro.

CNOOC have been exploring in the area. Their local partner Eykon have talked of plans to continue exploring and shown optimism about the results so far. Eykon have a record of optimism on the probability of finding oil off Iceland, and have at different times aired estimates in the high gazillions. Judging by the consistent lack of interest in Iceland from oil majors, even when oil prices were high, no one in the industry shares that optimism. Except CNOOC of course.

For an older but deeper look into CNOOC and Icelandic oil, there’s always what I wrote back when they bought the license.

General Nice’s Greenland subsidiary under compulsory dissolution [UPDATED: now back in GN’s hands]; accounting docs ‘disappeared’

After last week’s news about a HK subsidiary of General Nice (俊安集团) going into liquidation and a general picture of problems with creditors, it has now emerged that their Greenland subsidiary, London Mining Greenland A/S, is undergoing a compulsory dissolution process (tvangsopløsning). According to Sermitsiaq, a request to have the company dissolved was filed at the Court of Greenland in August 2016. The distressed Greenland subsidiary owns the mining license for the Isua iron mine.

Sermitsiaq also talks of accounting problems related to the transfer of London Mining Greenland from its previous owner to General Nice in late ’14. All accounting materials for that year appear to have disappeared: the location of “electronic data as well as physical documents” was unknown at the time of compiling the following annual report.

In other General Nice news: a North Sydney office building GN’s HK-listed arm North Sydney bought for $50m in ’13 to try and offset losses in their main business (mentioned in my General Nice backgrounder) is now part of an asset restructuring, and should end up being at least partially owned by Huarong, the asset manager that has also taken over management of the HK-listed subsidiary.

[UPDATE (Jan 3): Sermitsiaq reports today that two weeks ago the Court of Greenland allowed General Nice to retake the Greenland subsidiary, after four months under management by a liquidator. The reason for the dissolution order was that the company had failed to produce an annual report on time. Other than the report, a requirement to come out of dissolution was a capital injection, which apparently also happened. It remains unclear whether those missing documents related to the transfer to General Nice have materialised.

So the Isua mine in Greenland is back in General Nice’s hands for the time being. It remains to be seen whether the company’s dire situation in Hong Kong will affect the Greenland subsidiary.]