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South Korean President Lee Myung-baksaid Monday that his government targets an annual economic growth of four percent in 2009.

Mr Obama's stimulus includes calls for $38bn in direct government spending and $18bn in tax breaks for clean energy spread over the next 10 years, according to Dewey & LeBoeuf, the law firm. Owners of solar, wind, and other clean energy facilities will be able to claim tax credits against the cost of new equipment, helping attract big institutional investors who have been put off investing in clean energy because of uncertainty about taxes. But the short timeframe - credits can only be claimed for projects that are up and running within the next three to four years - means projects still on the drawing board may not be ready in time to qualify.

l Write to Editor NEW DELHI: The government on Friday said the fixed line telephony will be exempted from the licence fee to encourage service providers especially in the private sector to go to rural areas.

The Singaporean government launched a new Solar Capability Scheme on Tuesday to encourage the private sector to install solar technologies in new building projects, local media reported.

The search is on for domestic reserves of key resources, such as iron ore and crude oil, to reduce dependence on imports, according to a government plan

When the idea of a low carbon economy first raised its head some expected a sea change in public attitudes. This change would impact the regulatory framework, acknowledge the responsibilities of businesses,  encourage development of sustainable practices and generally save the world from itself. It seems that some observers are surprised at the slowness of the sea change. Perhaps the level of innovation required is not materialsing because the need, in fact, is not urgent enough in the minds of business, government or consumers. Over the last decade, governments have put in place frameworks for action, but the timing is over many years - a serious commitment which should encourage. On the other hand, perhaps we should not expect a huge change in lifestyle look and feel as we grow into an efficient low carbon society.

According to data released by the Shanghai-based nonferrous metals data provider Metalease, 18 major copper tube makers in China were operating at 35% capacity in January, in response to plummeting demand. Business activity has also been affected by the Chinese New Year festivities. The plants, which have a combined capacity of 978,000 t per year, consumed 28,000 t of refined copper in January compared to their consumption capacity of 81,500 t per month. Even though the Chinese government has increased the export tax rebate for copper tubes of diameter of less than 25 mm, the 18 copper tube producers exported only 21% of their total output in January, compared with 26% in December.

Chinese imports of copper and copper products in February increased by 42% m-o-m to 329,311 tonnes. Bloomberg reported that this is the highest increase in inbound shipments since 2003. LME copper prices have jumped by 19% since the beginning of the year, reaching US$3,667 per tonne on March 10th. Copper prices have been supported by optimism regarding the Chinese and the US government spending packages. Infrastructure projects will boost the demand for copper semis, especially cables and tubes.

The Chinese government is supporting the copper industry by eliminating taxes on copper concentrate imports and finished copper products exports. China is the world's top copper consumer and according to Antaike Chinese copper consumption in 2009 will grow by 2.1%, revised down from its previous forecast of more than 6%. The duty-free trading policies will benefit copper smelters and fabricators, however, weak global demand will continue to take its toll on Chinese exports.

NEW DELHI: The Centre Government has imposed a provisional anti-dumping duty on certain high-end stainless steel products to guard the domestic industry from surges in cheaper imports from China, Thailand and the U.S.

According to government announcements, Chile, which mines about one third of world's copper, produced 429,620 tonnes of copper in March. This represents a 5.9% decline in output compared with the same period in 2008. Output in February also declined by 9.8% y-o-y.

One of the biggest renewable energy manufacturers in Britain announced on Tuesday it is to cut more than half its UK jobs - blaming the government for failing to support the sector. In a grave blow to the government's ambitions to create a "green" export industry, Vestas, the world's biggest maker of wind turbines, will axe about 600 of its 1,100 UK employees, probably closing its factory in the Isle of Wight and cutting jobs elsewhere in the UK.

Amid the global economic crisis, one sector that has not contracted but has actually expanded is the utilities infrastructure in the Middle East. The government of Dubai announced in January that it will spend AED 37.7 billion (US$10.3 billion) as part of its 2009 budget. A considerable part will be spent on infrastructure projects and power networks will be a significant portion of this plan. According to data provided by Dow Wire and Cable, the regional demand for medium and high voltage cables amounts to 270,000 km and this is expected to rise in the next 2-3 years. While there is still growing demand for medium and high voltage cables, there is currently shrinking demand for smaller products such as building wire.

BOSTON - There's gold in the sea floor. Silver, copper, zinc and lead, too. The problem is, it's a mile or two underwater and encased in massive mineral deposits that layer a dark, mysterious world. But new technology and worldwide demand have combined to make mining for these metals economically feasible for the first time. A breakthrough project is moving forward in New Guinea, and new rules to govern deep ocean mining will be set by an international authority this spring.

Until November it was virtually impossible for a private developer of renewable energy power plants to become an independent power producer (IPP) in Mexico. Article 27 of the Mexican Constitution precluded private investment stating that electricity generation for public use is an activity to be undertaken exclusively by the Government. Mexico's enactment of a new law for the use of Renewable Energy and the Financing of the Energy Transition ( Ley para el Aprovechamiento de Energías Renovables y el Financiamiento de la Transición Energética ) substantially improves the legal framework for private investment in renewable energy projects. The law regulates renewable energy electricity generation for purposes other than providing public electricity services. The law states that the use of renewable energy for electricity generation is possible for private use and any excess energy can be sold, but only based on regulations and approvals by Mexico's energy regulatory body, CRE .

CHINA will not approve new aluminum plants or expansion projects for the next three years as part of a plan to revitalize the nonferrous metals industry. The government also aims to create three to five major nonferrous metals companies by 2011, with the top 10 domestic players controlling 90 percent of copper production, 70 percent of aluminum, 60 percent of lead and 60 percent of zinc in their respective markets, the State Council, China's Cabinet, said yesterday. A draft of the nonferrous sector rejuvenation plan was unveiled in February when it was approved.

El Sewedy Cables announced that it will establish a low-voltage power cable plant in Yemen. The investment of the project will amount to US$42M and it will be the first cable manufacturer in the country. The capacity of the plant will be 12,000t of copper and aluminium cables per annum. The project, to be build on government leased land and tax exempt for five years, will be a joint venture between El Sewedy Cables (70%) and Hassan & Masoud Abo Gaig (30%).

The Chinese government said that it would expand an existing subsidy program to encourage the purchase of new vehicles and home appliances, thereby boosting domestic spending. China will now allocate 5B yuan ($733M) for owners of light trucks and passenger vans who upgrade to new models. It also plans to spend 2B yuan ($293M) to fund discounts of new purchases of home appliances when customers turn in old goods, which will possibly give support to domestic copper demand. The plan will apply to almost all household appliances, including air-conditioners, television sets, refrigerators, washing machines and computers. Exports of these have been weak and the plan will help local producers to de-stock more quickly.

The American Council for an Energy-Efficient Economy issued a report yesterday touting the role that semiconductor-based technologies have played in making the U.S. economy more efficient. At the same time, the International Energy Agency issued its own report calling on governments around the world to be more aggressive with efficiency standards for ICT and consumer electronics, which are expected to demand twice as much power by 2022 and three times as much by 2030 - creating a need for another 280 gigawatts of power generation (i.e. like adding another Japan to the world, or more than 230 nuclear reactors). "This will jeopardize efforts to increase energy security and reduce the emission of greenhouse gases," according to an IEA news brief.

The government is considering levying up to 10 per cent cess on royalty charged on minerals like iron ore, copper and lead that would be used to promote scientific mining practices - an idea opposed by the mining industry.