Canada, not China, dominates Amazon energy and mining - China Dialoguehttps://chinadialogue.net/en/energy/canada-dominates-amazon-energy-and-mining/Canadian companies have the greatest share of foreign investment in Amazon energy and mining projects while companies headquartered in China control scarcely 10% across the hydropower and extractives sectors, according to new data published by US think-tank the Inter-American Dialogue.
“I don’t think anyone knew exactly how active Canada was in the Amazon,” said Lisa Viscidi, director of the Dialogue’s energy, climate change and extractive industries programme, adding that the lower level of Chinese participation was surprising.
The collection of data on hydroelectric, oil and gas, and mining in the Amazon aims to identify the companies and banks with projects in a vital ecosystem. The Amazon serves as a critical carbon sink and home to indigenous groups and several million species of plants and animals, according to the report “Energy and Mining in the Amazon”.
Throughout South America, 197 Canadian mining companies own or operate an estimated US$8 billion worth of projects. In an area the report defines as the “biogeographic Amazon” – the cradle of the ecosystem’s biodiversity that extends beyond legal-political boundaries – they control equity shares equivalent to 47 whole projects, the data shows.