• Most Popular
  • Most Shared

Gunns won't seek to renew sovereign risk agreement

Thu Nov 20, 2008 6:15pm EST

Stocks

   

SYDNEY, Nov 21 (Reuters) - Australian timber group Gunns Ltd (GNS.AX) has told Tasmania's state government it would not seek to renew its sovereign risk agreement for wood supply to its Bell Bay pulp mill project, the company said on Friday.

The agreement was made to provide security in the event of the state's forestry office being unable to supply its volume commitments under a wood supply agreement as a result of future changes in government policy, Gunns said in a statement. (Reporting by James Thornhill)



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
A view of a cemetery for foreign prisoners in the settlement of Spassk in central Kazakhstan December 10, 2009. REUTERS/Shamil Zhumatov

Despair in the Kazakh steppe

In icy Kazakhstan, barbed wire and crumbling barracks stand in testament to the decades of cruelty millions of ethnic Germans endured in Soviet gulag camps during Stalin's Great Terror campaign.  Full Article | Slideshow 

World
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review