Energy Blast – May 1, 2008

Following talks between their leaderships, Russia has announced that it believes Iran is not developing nuclear weapons, and has pledged to complete the Bushehr power plant on schedule. Armenia is facing a power crisis as it is due to replace its only nuclear power station, which provides more than 40% of its electricity, by 2016. EU officials have expressed concern that the plant is located in an active earthquake zone. Anglo-Swiss miner Xstrata has “effectively issued a call to rivals to ‘come and get us’.