China Steelmaker Compete For Import Of Coking Coal Next Year

China as a country that has the largest steel manufacturer in the world, maybe next year will face competition with Japan and South Korea for coking coal. This year China's coking coal imports increased 12-fold. Increased import of coking coal for the Chinese government's policy to close some coal mines that are not considered safe in the process of mining exploration.

Advisor of China Association of Coal Distribution, said, "Domestic demand for coking coal will rise moderately next year, while global demand can be obtained more quickly, intensifying the competition."

Estimated coking coal prices have risen high enough in between 23 percent to 38 percent in 2010. The increase in Coking coal prices will be difficult for a steel plant in some countries to achieve the production target next year.

Zhang Bochun, secretary general of Hebei Coking & Chemical Industry Association, said, "China does not have enough domestic supply to meet rising demand from steelmakers. China's steel plant will" compete with foreign steel companies for supply of coking coal next year. "

Intense Competition

Import demand by China, the world's coking coal buyers after Japan's largest, will rise 5.6 percent to 38 million metric tons next year from an estimated 36 million tons this year, led by Macquarie analyst Jim Lennon said in a December 15 report. Domestic coal prices in the nation could rise 14 percent next year, Citigroup Inc. said in a December 4 report.

Japan's purchases could jump 14 percent to 58 million tons, and South Korea will demand rose 17 percent to 21 million tons next year, Macquarie said.

"BHP and other suppliers can add exports to Japan and South Korea because the demand to take it," said Zhang Weifang, a Shanghai-based analyst of Mysteel.com. "Chinese people may have to pay the spot price higher, compared with their foreign competitors who are willing to pay the contract price is lower."

China will demand more high quality hard coking coal in the future as it expands factory, BHP Billiton said in a slide presentation in September. Nation this year "appears" to fill the gaps coking coal demand, the world's largest mining company said.

Baosteel, JFE

JFE Steel Corp, Japan's second-largest producer, will invest 50 billion yen ($ 555 million) in an Australian coal mine owned by QCoal Pty, the largest investment in coal, Akira Suzuki, general manager of the raw materials department, yesterday.

Baosteel Group Corp., China's largest producer, in October received approval from Australia to buy 15 percent stake in Aquila Resources Ltd. for A $ 285 million ($ 253 million). Baosteel may ask the Chinese partners to assist the development of coal resources in Aquila, Xu Lejiang Chairman said December 3.

The Chinese government began closing small coal mines in 2008 to improve their safety record after a worker was killed in 3770 in 2007, making the most deadly mines in the world. China produced 705.1 million tons of coking coal last year, according to Beijing Antaike Information Development Co.

Subsidiary Caledonia Mining Corp. Get Gold Dealership License For Gold Sales Directly

Gold dealer license is permission granted to a company that produces gold will be exported directly in gold and gold bullion to the refiner. Zimbabwe gold producer Gold dealers Licensi hope will mendapatjan can export directly to a gold refiner ririskiky choice. One of the mining companies operating in Zimbabwe, Caledonia Mining Corporation, through its subsidiaries has acquired dealer Blanket Gold Mine License for gold export procedures.

Blanket Mine and Caledonia Mining Corp. has filed with the Ministry of Finance that the duration of the dealer license term is extended beyond the Golden 12 months, to facilitate increased debt with maturities of more than 12 months. While the Finance Ministry appears to recognize the necessity of this requirement, apparently involved extensive administrative process and the Department stated that he could no longer permits issued before the end of the existing license. Caledonia blanket and hope that the future of the Gold dealer license will be issued for a period of more than 12 months.

Blanket Mine expects gold export license obtained directly encourage mining companies and the Blanket Mine to Caledonia Mining increases gold production and development of gold mines in several countries that have the potential gold mine of resources.

Coal Exporter Macarthur Coal To Purchase Offer Gloucester Coal

Largest coal exporter in the world, Macarthur Coal Ltd. plans to buy a coal mining company to expand the exploration of coal mines operating in Australia. Mining companies to be bought by Macarthur Coal is the Gloucester Coal.

Macarthur Coal expects the purchase of Gloucester will provide the production control of coal mines for power generation so as to restore the $ 72 million profit in fiscal year 2009. Macquarie Group Ltd. last week raised the estimated annual contract prices for coal for power generation by 21 percent to $ 85 per metric ton.

Macarthur Coal operates two mines in Queensland state. Companies, which pulverized coal is used to make steel, sold A $ 252 million new shares in June to help finance the expansion, including the development of my Middlemount.

Macarthur Coal, 16.6 percent owned by ArcelorMittal, in October reported 22 percent gain in first quarter sales after demand from steel makers rebound. The factories in China, Japan, Europe and the United States restart the furnace to meet the demand for steel used in cars, construction and washing machines.

Gold Mining Exploration Company Laguna Resource Signed Requirements To Obtain Cachitos Gold Mine Project

Laguna Resources, exploration and development company's gold mines, has signed a requirement to obtain Cachitos gold mine project. Cachitos gold mine located in the southern sector Maricunga World Class Gold Belt, Northern Chile. Mine is Chachitos Resource center Laguna mining companies. The acquisition of a gold mine project is a program Laguna Resource Cachitos mining companies to target the discovery of a multi-million ounce gold deposit hosted hydrothermal breccias.

Another gold mine project is completed by the mining companies Laguna Resources is a gold mine project Arqueros. The project is located on the same mountain and structural regime as the 26 million ounce Cerro Casale gold project and 20 million ounces of gold Caspiche Project.

In addition to Laguna Resources, another mining company to conduct a feasibility study is a gold mine Godl Corp. Kinross. and Barrick Gold Corp.. Both companies are working on mining projects Cerro Casale gold mine. It is estimated that the Cerro Casale gold-mine reserves and 26 million ounces of 3 million tons of copper.

Steel Company Arcelormittal Plans Iron Ore Purchases Increased In 2010

Indian steel maker, ArcelorMittal plans to increase purchases of iron ore in 2010. Increased purchases of iron ore in anticipation of shortages of iron ore that will be used to produce metal, special steel production. ArcelorMittal is also trying to increase self-sufficiency in coking coal by 20 percent to 25 percent, from 15 percent.

Lakshmi Mittal, ArcelorMittal's chief executive officer and 41 percent shareholder, has added mining assets in Brazil and Russia since Mittal Steel Co. bought Arcelor SA in 2006 in the steel industry's biggest takeover. Strategies to increase the supply of raw materials, which helps ArcelorMittal swollen debt of $ 32.5 billion in 2008, maybe next year can be maintained as iron ore and coking coal prices.

Service request by iron ore producers

Brazil's Vale SA, the largest iron ore producers, Australia's BHP Billiton Ltd. and London-based Rio Tinto Group contributed 68.5 per cent of iron ore transported by sea, according to World Steel Association based Brussels.

BHP and Rio agree earlier this month to detail their proposed 50-50 joint venture to combine the iron ore mines, railways, ports and labor in the Pilbara region of Western Australia, saving at least $ 10 billion per year. The plan faces regulatory presumption against including the European Commission and the Australian Competition & Consumer Commission.

ArcelorMittal produces 37.1 million metric tons of iron ore in the first nine months of 2009. This iron ore has projects in countries including Brazil, Liberia and Senegal.

Southgobi Energy Increase Production Of Coal Mines In The Gobi Desert To China’s Coal Demand

SouthGobi Energy coal producer operating in a sandy area of southern Mongolia, plans to increase coal production reached 8 million metric tons in 2012. Coal production comes from coal mines in the Gobi desert. Increased coal production in order to anticipate the demand for coal from China. Investment needed to increase the production capacity of coal worth $ 800 million. This investment will gradually until three years into the future.

SouthGobi is currently developing a coal mine at Ovoot Tolgoi. This coal mine has been producing coal for power supply makers to producers. SouthGobi require $ 500 million for the construction of railway facilities used to deliver coal to the Chinese border.

This year the coal mine have been producing Ovoot Tolgoi coal 1.2 million. The results of coal mines in China sent to the province of Inner Mongolia. It is estimated that coal reserves in Ovoot Tolgoi mine site 114.1 million tons.

NYK Signed A Contract With Rio Tinto For Iron Ore Transport From Western Australia To China

NYK is a leading transportation company in the world, has a transmission facility floater products to various countries. NYK and Rio Tinto signed a cooperation contract for 20 years NYK fleet use to send the production of iron ore from Western Australia to China. Rio Tinto hopes contract with NYK unutk shipping iron ore produced from the mine site in Western Australia can match schedule has been handled by Rio Tinto with customers in China.

Sebagaiman analysts expect growth in iron ore demand from China in the next few years will experience positive growth, so that Rio Tinto hopes contract with NYK can help Rio Tinto to compete to satisfy market demand for iron ore in China.

Shipping iron ore production will commence in 2013 with a 250,000 dwt ship. Expected annual volume of about 2.7 million tons. In addition to 20-year contract, three-year contract with a 170,000 dwt Capesize bulker from April 2010 was closed.

Increase Coal Prices and Coal Demand from China Continues Until 2010

Analysts predict coal prices and demand for coal in China will last until February 2010. The growth of coal prices coal prices because of competition for the supply of coal market in China. Increased coal prices could reach 5 to 10 percent.

As an indication of the estimated development of coal prices coal prices at Qinhuangdao port. The development of coal prices and supply of coal at the port Qinhuangdai until December 11, inventories of coal decreased 11.5 percent or 6:45 million metric tons. Tight supplies of coal in the domestic market has led to increased coal prices 5.6 percent, from 40 yuan / tonne to 750 yuan / ton. Shanxi coal prices excellent mixed record highs 730-740 yuan / ton, up 6,8-8,1 percent.

Xu Zhe, a researcher with Southwest Securities, said that both enhance macroeconomic and point heating season to increase demand for coal. Meanwhile, the consolidation of coal resources in Shanxi province has increased the supply of coal in excess of previous years. In addition, the international energy price markup also brings high expectations of a rise in domestic coal prices.

What needs to be noted is that, under Chinese rule, classifies the current coal pricing mechanism, electricity prices could face a similar increase following the strong expectations for an increase in coal prices.

Liu Fei, a researcher with Guodu Securities, noted that since the price of electricity has not been determined by the market, coal price increase will not affect them much.

Goldsource Discovered Coal Resources at Hudson Bay Region

Goldsource find the source of a large coal resources, coal resources estimated to be able to supply the energy needs in the province of Saskatchewan listri 10 to 20 percent.

Goldsource director, says Scott Drever, "For me this is a source of energy, and whether it is in the form of electricity through power stations or in the form of petroleum products produced through the gasification of coal, the amount is very, very big. I think, from the long-term perspective, this is a source of energy that there is no Saskatchewan two years ago for our findings. "

Goldsource coal resource estimates could reach 170 million tons of coal resource potential could supply up to 300 megawatts of electricity. The value of coal produced could reach $ 1.7 billion to $ 3.4 billion.

The development of coal resources are found are in the process of talks with the government of Saskatchewan, to conduct exploration and development of coal mining facilities.

"I had several conversations - they are very early, obviously - and we really need to get what they deserve to deal with the resource base or base backup might have been there before we can choose the direction in which we might want to go," he said .

Minister of Energy and Resources Bill Boyd said the discovery of the Border great potential to save the province, which has the third largest coal producer in Canada. Saskatchewan produces about 55 percent of power from coal, he added.

"The findings Goldsource recently looked very, very significant resources of sub-bituminous coal, which is a pretty good grade coal, better than what we have in the province at this time point," said Boyd.

"It looks very, very positive. They assume that the resources ... And I'm sure there will be interest in a very significant investor in this area."

The minister said the province saw all kinds of natural resource development "as a very positive potential." Companies that want to develop resources in Saskatchewan, however, must meet environmental criteria.

"People expect these projects will be sustainable, to be ... Handled in an environmentally responsible fashion. All this is part of that, any discussion of this," said Boyd.

Coal exploration in the Hudson Bay region of interest to the public from the year 1800, said town administrator Rick Dolezsar. Goldsource not the only coal exploration company in the area, but found the Border holding significant long-term potential of Hudson Bay, he said.

"No doubt we are very excited about the discovery and, I think, looking forward to some diversification away from the forest industry here in the Hudson Bay region," said Dolezsar.

City officials say they want to see deposits of coal power plants in this area, although there is added value to the resource will be welcomed.

"If a coal-fired power plants are built, there will be construction work for several years 500-800 and 200-300 may be operating (work), including mining, after that, that would be great for the whole region," said Dolezsar.

U.S. and China Coal Still Rely

JAKARTA. Until now, the United States and China still tops world's emissions of the donor countries. The high level of emissions both countries one of which caused the high use of coal as an energy source for electricity generation in the U.S. and China.

United States still has coal reserves of 264 billion tons are sufficient to meet the energy needs of 225 years into the future with the current rate. Coal is cheap and easily obtained in the area of the United States produces half the country's electric power. Every day, about 14,000 tons of coal burned in power plants Hunter, Utah, which supplies electricity to the U.S. West region.

China produced more than 18 billion tons of carbon dioxide per year. In China, more than 80% of electricity generated by that State coal-powered generators. 46% recorded at the old world coal production is produced in China. In fact, in early 2008, two coal power plants are operated each week to offset the rapid rate of economic growth in China.

Utilization of coal as a fuel for power plants is still a major choice views of the backup, ease of transportation, and cost. However, the environmental impact of coal mining is also very high.

In addition to the many pollutants contained in the coal such as sulfur dioxide, nitrogen, and mercury, burning coal to produce a major contributor to global warming, carbon dioxide. When burned, coal releases large amounts of carbon dioxide into the atmosphere, which led to the greenhouse effect.

Shanxi Puda Coal Signed Deal Mining Rights And Transfer Of Mining Assets

Shanxi Puda Coal Group, a subsidiary of Puda Coal, one of the largest suppliers of the largest metallurgical coking coal, signed the agreement and transfer of mining assets, mining companies coal mining Da Wa Pinglu County Coal Co. Indsutry. Pinglu County Guanyao and Coal Industry. Puda Coal will own 100% of mining assets, all assets purchased will be placed in two newly formed companies.

In accordance with the agreement, Da Wa Guanyao Coal Coal will be responsible to cancel or terminate the employment contract (or work) with their staff, pay all unpaid wages, premiums and welfare costs, and bear all costs resulting from the cancellation or termination of employment contract .

Total price of purchased assets transferred Da Wa Coal is RMB 190 million ($ 27.8 million), which RMB 46.6 million ($ 6.8 million) was for Da Wa's intangible assets and RMB 143.3 million ($ 21.0 million) for mining rights and compensation to previous owners. For Coal Guanyao, the purchase price reached RMB 94.8 million ($ 13.9 million), which RMB 37.6 million ($ 5.5 million) is for Guanyao's intangible assets and RMB 57.2 million ($ 8.4 million) for mining rights and compensation to previous owners.

Steel Producer JFE Steel Corp To Invest 50 Billion Yen at Coal Mines

JFE Steel Corp. Is the largest steel producers in Japan plans to invest 50 billion yen in the coal mine owned Qcoal Pty.. Coal mines located in Queensland, Australia. JFE Steel Investment in the coal mine will provide the right stock by 20 percent.

Investments made by JFE Steel in order to secure coking coal and iron ore, because the competition is expected to obtain supplies of coking coal and iron ore next year.

Long-term contracts will be signed to secure coking coal supplies for 2 million metric tons of coal each year. Coal production comes from coal mines Byerwen. Byerwen coal mine which will start operating in 2012, and is expected to produce 10 million tons of coal per year, according to a statement today JFE.

Utah Government Planned Coal Mine Development

To improve the regional economy, the government plans to build a Utah coal mine in the southern region of Utah. Division of Oil, Gas and Mining Utah has given initial approval to Alton Cedar City to build a coal mine covering 635 hectares in the town of Alton Kane Country. This coal mine is expected to produce as many as 2 million tons.

Development of coal mines will use private land, but production will be sent approximately 130 miles to a facility near Cedar City. Use of facilities at the Cedar City area, especially near Garfield County, received criticism from the public because it would interfere with public facilities and environment in the region Garfiled District.

"The environmentalists do not want to see anything happen anywhere," says Hulet, the county commissioners. "They just want the people in the community and throughout the United States to rely on social programs like health care. They do not want to see anyone who has a job with good salary."

In November, they filed an appeal of the initial agreement. Stephen Bloch, an attorney for the Southern Utah Wilderness Alliance, said Suwa and the Sierra Club who wanted to carry out checks on the location of the channel to be mined. Which may not be until the spring because of winter snow.

Higher Demand For Iron Ore Expected From China, Japan And The EU

Demand for iron ore and coal is expected to grow next year, which reflects the production of steel higher, pushing the output was close to capacity.

Australian Bureau of Agricultural & Resource Economics said the world trade in iron ore will increase by 8 percent to 987 million tons in 2010, compared with an estimated increase of 2 percent in 2009.

"The main contributors tend to increase in import demand of China, Japan and the European Union," said the fortune-teller's quarterly report said commodity. "However, the volume of imports for most countries, except China, is expected to remain under the year 2008."

ABARE said most of the growth in import demand is expected to be arrested by the Australian and Brazilian iron ore exporter, which reflects their cost competitiveness compared with other producers.

"Thus, the production in these countries are expected at, or close to capacity during the year 2010," ABARE said.

Australian iron ore exports is expected to increase by 9 percent to 394 million tons in 2010, when significant additional production capacity and exports are expected.

China will remain the main drivers of demand, but consumption is also expected to rise gradually in OECD economies.

In 2010, prices for most minerals and energy commodities is expected to be higher in year-average terms.

"However, the increase of mineral and energy prices in 2010 is not expected to be large, especially considering the price increase has occurred and assumed a gradual recovery of economic growth the OECD," ABARE said.

The total value of commodity exports in the year to June 30, 2010, now estimated at $ 162.56 billion, up 2.7 percent from the September estimate but down 18 percent on actual exports of the revised record $ 197.44bn last fiscal year.

Export value of metal and other minerals in 2009-10 is estimated down 10 percent year on year to $ 75.27bn, up 2 percent from the estimate in September.

Head of ABARE commodity analyst Jammie Penm said that compared with expectations a year ago, the economy is performing better than previously expected because Asian economies are emerging to handle downturn better than some OECD countries.

"If this strong economic growth in Asia continues to grow, then the OECD countries gradually recover, then that would be the optimal situation in our economic prospects," he said.

ABARE also expects the export value of agricultural products fell by 6 percent to $ 30bn in 2009-10, after a significant increase from 16 percent to $ 32bn in 2008-09.

Iron Ore Import Demand Of China, Japan, European Union Affect Increase Iron Ore Production

Analysts expect iron ore production in 2010 will increase, because demand for iron ore imports of China, Japan and the European Union increased. Increased demand for iron ore imports due to the increase in steel production that will be used to support the industry-automatif enter each country.

Australian Bureau of Agricultural & Resource Economics estimates that demand for iron ore increased by 8 percent in 2010, higher than the demand for iron ore in 2009 by 2 percent. Largest importer of iron ore is dominated by China.

ABARE expects iron ore mining company Australia can compete with the mining companies iron ore from other countries, especially the mining companies of Brazil.

Australian iron ore exports is expected to increase 9 percent to 394 million tons in 2010, when significant additional production capacity and exports are expected.

MMX Mining Company Plans To Increase Iron Ore Production Capacity

MMX plans iron ore mining companies to increase production capacity in 2015. To achieve the target production capacity of mining company MMX will invest $ 1.2 billion. Iron ore production capacity is planned 33.7 million tonnes per year. Currently MMX iron ore production reached 9 million tons per year.

Planned investment for the expansion of South-East system, which includes 7 MTPA Serra Azul and Bom Sucesso mining project, which is still operating.

The Company also has a system of smaller Corumbá, which is located in southwest Brazil, which has a capacity of 2 MTPA.

Target sales market of iron ore production is produced by China, because China's one of the largest iron ore importer in the world. China needs to support the production of ore, the steel industry is always increased from year to year.

MMX President said, "The total investment will be between $ 1 (billion) and $ 1.2 billion to take MMX with the production of 33.7 million tons. We have to achieve it (target) around 2014, 2015."

MMX Iron Ore Production Growth

MMX production this year dropped as low as 50 percent of capacity as a result of the 2008 financial crisis, but Downey says now back close to capacity.

MMX last month announced a $ 400 million agreement to sell the shares 22 percent stake in Chinese company Wuhan Iron and Steel Co (600005.SS) through a stock offering is expected to bring at least $ 200 million more than the minority shareholders.

Downey said the agreement Wuhan, together with additional capital from minority shareholders, will allow to pay the current $ 600 million of extraordinary debt.

The agreement covers 20 years of ore supply contract and an agreement to build a steel mill in Porto do ACU, a port terminal is controlled by the logistics subsidiary LLX EBX.

MMX also evaluate Greenfield projects in Chile after signing the agreement in 2008 giving the option to purchase the mineral production rights there.

Australian Mining Company, Resolute Mining Increases Gold Mining Resource Extraction In Africa

Australia is the largest producer after China's gold mine. Australian mining companies looking for sources of gold mining has the potential to do the exploration. Mining firm, one of Australian mining companies who have invested in gold mining project in Mali. Value investing Resolute Mining has issued a gold mining project in Mali $ 186 million.

The potential gold mine in Africa, giving hope to the mining companies to seek more sources of gold mines in Africa which has the potential to do the exploration.

Peter Sullivan said, "the junior gold mining company in Australia is working hard to find the sources of gold mining to boost gold production. Australia's investments in African mining company enough, including Cote d'Ivoire, Mali Burkina Faso and Ghana."

Sullivan said he wanted to change the Resolute to 400,000-to-half-million-ounce-per-year gold producer, allowing the company to shed the status of junior and attract a greater share

Case Of Gold Mines Owned By Barrick Gold In Nevada: Mining Companies To Continue Operating Gold Mine

Excavations gold mine in Nevada by the gold mining company Barrick Gold Corp., Is in litigation. U.S. appeals court is to conduct environmental analysis of gold mining project in Nevada which is operated by the Barrick Gold mining company. U.S. appeals court order to delay the process of digging a gold mine with a depth of 2000 feet in the open at the mine site.

However, Barrick Gold Corp., he kept digging the gold mine appeals court ordered the postponement of mining excavations. Appeals court decision will be interpreted by the Nevada District Court, which will determine what action, including termination of operation, may be required to respond to the U.S. appeals court decision.

Vincent Borg said the mining companies continue to work on a new $ 500 million Cortez Hills me the day after the three-judge panel of the U.S. Court of Appeals for the 9th Circuit granted the order to suspend the force Barrick Gold digging a hole 2,000 feet deep in the mines open.

In the earlier decision was reversed, three judges in San Francisco said the U.S. Bureau of Land Management failed to adequately analyze the potential emissions of air polluting mining with mercury and dry scarce water resources in the high Nevada desert. The project is located in Mount Tenabo, about 250 miles east of Reno.

Native tribes in Nevada Barrick sued to stop the expansion of mines near sacred sites.

Federal appeals court has directed the lower court to consider the appropriate assistance to the indigenous tribes who want U.S. Bureau of Land Management to conduct additional environmental analysis of mining development.

Analysis can be completed "relatively quickly" but it's time the legal process will depend on the legal path taken by the company and the Bureau of Land Management, the federal agency to allow me, "said Borg.

Barrick said the Bureau approved the company's plan for Cortez Hills project in November 2008 and will work together to comply with the appeals court.

U.S. Coal Industry Expect Coal Demand And Prices Rise

Increased demand and coking coal prices in Asia gives hope to the U.S. coal industry affects the demand for coal stocks in the United States. The leaders in the U.S. mining company saw indications of increasing demand for coal and rising coal prices.

Mining companies expect increased demand for U.S. coal and coal prices will help mining companies out of the crisis facing today.

Kevin Crutchfield, chief executive of Alpha Natural Resources, said, "The demand from steel makers for the metallurgical, or coking coal is to rebound more quickly, especially in Asia, but it may take another year to thermal, or steam coal used in power stations, to return to the level before last year's economic downturn. market demand for moving coal and we are looking for heat recovery in the not too long. "

"There are times when we all hope it will end. But now we see things change and we are optimistic."

Coal supply in the U.S. today is still too high. Around 100 million tons which will be taken out of the market to return to the range of 130 million to 150 million tons.

In the global coal market, Crutchfield said can be summed up in one word - China. Asian consumption is expected to increase to 8 billion tons of the 6 billion tons in the next 20 years, he said.

China now a net importer of metallurgical coal for steel production is estimated to exceed 600 million tons this year - roughly half of total world steel producers.

Victor Patrick, CEO of another U.S. coal producer, Walter Energy (WLT.N) also noted the industry rebound.

"Although we experienced this throughout the year in which our ability to sell is limited by the demand for our products, our customers are not there, it does not happen again.

"We're back to where we are historically, in which our ability to sell our products is limited by our ability to get product from me," he told Macquarie conference.

Coking Coal Prices Expected Increase To Reach $200 per ton in 2011

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Analysts estimate the price of coking coal will rise to the level reached $ 200 per ton in 2011. Indications of an increase in coking coal prices are indicated by the increasing demand for coal imports by China. Coking coal prices in the spot market have reached $ 175 per ton, compared with the price of coking coal in August of about $ 145 per ton. Industrial sector the most widely used coking coal is the steel-making industry.

The increase in Coking coal prices will affect the price of steel, this condition will affect the income of producers of steel. Analysts predict an increase in coking coal prices would make the Indian steel producers.

Analysts predict that conditions will be faced by producers of steel, if the coking coal price increases.

Indian steel producer, on condition anonymity, told DNA Money, "We've seen this trend for several months because a lot of Australian coking coal exported to China. The Chinese people feared to buy. We can only hope that this trend is not possible to maintain that many closed mines in China were reopened. "Arun Jagatramka, chairman, Gujarat NRE Coke, one of the largest cocaine producer in the country, told DNA Money," for the first time China has become a net importer, which has a global impact at the prevailing short supply of good quality hard coking coal, causing the effect of international price increases. "

Jagatramka said there are two reasons for the purchase of China. The first is the mine disaster in a row that has happened in the past recently, which has stopped production.

U.S. Coal Producers Signed LoI Coking Coal Mining Operation In Shanxi Province, China

U.S. coal producer company, America West Resources signs LoI for coking coal operation in Shanxi Province, China. Coal mines will be operated a coking coal mine owned by Jiexiu Shanxi Luxin Coal Gasification Company, a coal mining company in China. Company Luxin operates coal coking plant in Shanxi Province with annual production capacity of 600,000 metric tons. Coking coal plant built next to produce coke, also generates electricity using synthetic gas produced through gasification of coal.

The prospect of Shanxi Coking Coal Mining Company Jiexiu Coal Gasification Luxin

In 2007, Luxin income reached U.S. $ 129 million and EBITDA of U.S. $ 30 million. In 2008, the Company received an annual income of U.S. $ 140 million and EBITDA of U.S. $ 22 million. During the first six months of 2009, Luxin posted revenues of U.S. $ 60 million and EBITDA of U.S. $ 9 million. Reuter reported, the demand from steel makers for the metallurgical, or coking coal, is rebounding from the recession last year, especially in China. This article cites authority projects that consumption of industrial Asia will increase to eight billion tons of the six billion tons in the next 20 years.

Delta Signs Agreement to Acquire Delcer Buttes Gold-Copper Property in Nevada

Delta Mining and Exploration Corp. is pleased to announce that it has signed a binding agreement with Amigo Inc. Garry and Mr. Carlson for the acquisition 100% interest in Delcer Buttes copper gold property in Elko County, Nevada.

Basic requirement Agreement

Delta will have a 100% undivided interest by issuing seven million common shares for a limited Amigo Delta from trading until July 1, 2010, paying $ 10,000 in cash (to cover the previously-paid property maintenance costs for two years) and the minimum expenditure $ 20,000 per year as a commitment to work in the Property.

In addition, 2% Net Smelter Return royalty paid to Amigo from commercial production from the Property. Delta still has the right to buy back, at any time, half of the NSR royalty (1%) for $ 3 million.

Title 31 unpatented mining to hard rock claims (a total of 680 hectares) covers property will be transferred to the Delta and the Delta must maintain property in good standing in accordance with Nevada State and Federal mining laws, including the government pays for all maintenance payments.

Delta will be the operator of the project and agreed to use Amigo consulting services on the basis of certain exploration services (including geophysical surveys) in the Property to a maximum of two years.

Details of the work program will be announced in the near future pending the finalization of the initial field work program by Delta and Amigo.

Gold Prices Increase on Falling Supply and Rising Demand

February gold futures broke $ 1200 for the first time after a little time New York 4. The main current in February 2010 next month contract after the end of the contract in December November 30.

Gold futures rose 14% in November, the best monthly performance in ten years. Silver also rose 14%. Gold was trading down only three days in November and reached an all time high one after the other during that time. While the major U.S. stock indexes also rose, gold and silver shine in comparison. Weak oil seasonal average for a month. Trade-weighted U.S. dollar opened on November 76 and closed above under 75, hitting a new yearly low of 74.23 while.

Gold price increase is caused by the positive supply demand picture for both physical and metals futures trading in the pit. During the last twenty years has happened three main sources of gold supply and demand three main objectives gold. Supply source has been mining, memo (also known as gold recycling) and the central bank selling. Three departments to use for gold is jewelry, investment and industry (contrary to popular belief, gold has many uses in manufacturing, especially electronics). Complicated picture has been leasing the central bank for the miners, big banks and hedge funds who were stranded in significant quantities in the gold market in the 1980s and 1990s and was a major factor in maintaining the gold price down. The unwinding of this position, Barrick Gold closed the fence out with a book is the most recent example, has created upward pressure on gold prices for a few years now.

There are two main currents in the supply and demand shifts in the market. The central bank has shifted from supply side to demand side and ETFs has caused a large increase in investment demand. Until the mid-decade, the central bank sold contributed 14% of the market supply of gold, but in the first half of 2009, the central bank into the net buyers of gold. As supplies dry up from the central bank a new increase in demand created by the ETF is buying and storing physical gold. Now there is this global eleven and did not exist before 2003. Ownership of gold they have gone from zero to 1766.40 tons in the last six years. The largest ETF, gld, is now the sixth largest holder of gold in the world (between France and China).

Gold mining has provided at least 60% of the market supply in recent decades. So far gold mine production peaked in 2001. It then fell seven consecutive years until 2008. The only major producer to increase output have been China and Russia. This may be more related to the transition from communism to a more capitalist economic model than with the content of their gold mines, however.

South Africa, which is a gold producer on most of the last 100 years, experiencing rapid decline and gold output would seem to fall into fourth place in the world rankings this year. It takes about ten years to open a new gold mines and gold prices only started rising in 2001 and many remained convinced for some time that the rally will not last. So do not expect a significant increase in mining output until well after 2010. Barrick Gold (ABX) closed the fence out of the book though is an indication that they believed the gold output is likely to continue to decline and prices to continue rising.

While high gold prices mean that jewelry demand will fall, an increase in investment demand will more than flood every drop. In some developing countries, jewelry and investment demand is not really distinguishable like. Purchase of high-carat jewelry is the traditional method of investing in gold. While India has become the number one market for gold demand, China seems to be in the process of overtaking it. There are significant restrictions on buying gold limited by the Chinese until the early 2000s. Gold demand has been rising since the ban was lifted.

There are a large number of long-term trend changes in the gold market and none of them will soon be over. Perhaps there is at least a decade before a new equilibrium was established and began a major shift again and push gold prices down. At the time this happens, the price of gold will be much, much higher than today.

Source Gold Received Reports Of Gold Content Of Samples From A Gold Mine In Northwestern Ontario, Canada

Source Gold Corp.. Accurassay Laboratories in cooperation with the reported results of sampling studies of gold content of gold mines in the area Beardmore-Geraldton Greenstone Belt, Northwestern Ontario, Canada.

Initial sampling results to indicate there is a high quality of gold content of gold per ton 9.55/oz (270.74 grams / tonne). In addition to containing high grade gold content is estimated there are 15.5% copper.

Based on early exploration, gold mining companies have identified the source of three main areas of interest. Areas of interest include:

Interestingly, the first area Little Brother Claims Group, in which the number of samples taken from areas along the northern grandiorite with volcanics level, which produces visible gold occurrence. Assay results from this initial sampling of this exciting program to produce high quality test 9.55/oz of gold per ton (270.74 grams / tonne). Samples tested separately from this area also produces a very high value of 15.5% copper.

The second region of interest is close to the eastern part of selling the property east of Lake. This region is the most active in a number of properties where previous operators drilled drill collars during the 1970s. Ground observations of the trench and assessment of history have shown disturbed zones with high gold and silver values.

The third area of interest is the most western area of the property near Lake Musca, along the shear zone continues. Musca Lake zone consists of quartz flooding pinched and slid along the length of the strike was swollen.

KGI Securites Opinion: China’s Steel Production Rose 8 Percent, Above The 600 Million Tons

Growth in China's industrial sector is always getting attention from mining companies world mining companies non maupu, because the growth of industrial sector affects the growth of the global industrial sector.

Growth in demand for raw materials mining and mineral production in China is very high, so many mining companies interested in investing in the development of mining exploration in China.

Steel production sector is the sector that experienced very high growth in the year 2009, so the demand for imported iron ore and coking coal to China experienced tremendous growth.

KGI Securities analyst in Taipei, making the analysis of the growth of steel production and coking coal demand in 2010.

"China's crude steel production will grow 8 percent, crude steel production is estimated that more than 600 million metric tons. The growth of crude steel production will push the demand for primary raw material production of crude steel, coking coal, at high levels. Coking coal supply in China will remain tight in 2010, while gross margin coking coal suppliers will hover around current levels. We estimate the price of coking coal increased from 10 to 15 percent in the spring of 2010 as the steel sector to enter the peak season, improving gross margin coking coal maker. Coal coking increased imports by China will begin to change the landscape of global coking coal trade in 2010. Like the European Union and North America increased demand for coking coal for steel production is higher, the global coking coal supply will continue to close, raising the price. "

Australian Talison Lithium Begin Mining Operations At Val D’or Lithium Mine, Quebec

Estimating the industrial sector will increase the demand for lithium from year to year, Predict the industrial sector will increase the demand for lithium from year to year, because the lithium to be the main element in the development of electrically powered cars.

Prospects for the development of the use of lithium-powered electric car, making some companies to invest in mining exploration in some states of lithium.

Australia Talison Lithium, the world's largest producer of lithium, plan to start mining operations in the north of lithium Val d'or, Quebec in 2011. Lithium financing mining operations, Lithium Talison will sell new shares to 35 million new shares with a value of U.S. $ 181 million. Lithium Talison new shares will be listed on the Toronto and Sydney.

Talison lithium lithium estimates world demand will rise six percent in the next four years, more conservative than Lithium Canada Corp. 's projection.

Virginia Mining Company To Start Drilling Gold Mine In James Bay, Quebec

Virginia Mining Corp. is a mining company that has spread outside the drilling area in the Quebec region.

In the near future Virginia Mines begin drilling a gold mine in James Bay, Quebec. This mining company will drill six holes in a gold mine with an estimated drilling time for six months, the total area of 16,500 meters of drilling.

Drlling gold mines will be held in the company 100% owned Poste Lemoyne Extension, La Grande Sud, Lac Pau and Anatacau-Wabamisk project. Through partnership with Odyssey Resources, Virginia also plans to start drilling in the FCI Auclair and gold projects.

The Poste Lemoyne Extension property is host to the Orfee zone containing 88,588 tonnes of resources grading 9.44 grams per tonne gold in the measured category and 114,895 tonnes grading 18.4 grams per tonne gold in the inferred category.

Drilling program will test several new gold performances found on the surface during the summer of 2008 and 2009 field programs. Drilling will include a minimum of 20 drill holes totaling more than 2,500 meters. New Genesis gold values up to 52 g / t Au in taking samples and up to 20.98 g / t Au over 2 meters in the sample channel and spread across more than 37 miles along the corridor that contains gold.

In Virginia's La Grande Sud project, the company has started eight hole program aimed at total of 2150 meters. La Grande Sud property is host to 32 gold-copper mineralization zone reported 4.2 million tonnes of 2.1 grams per tonne gold and 0.2% copper in the spring of 1999.

Drilling program will mainly test the possibility of extension of Zone 30 which has produced several historical crossroads that contain gold from various long-grading between 3.89 grams per tonne and 13.5 grams per tonne. Drilling program will also test other targets on the property.

Gold Prices Declines From Record in Asia as Rally Encourages Selling

Gold prices fell for the first time in three days in Asia as some investors sold the metal to lock the profit after the rally to a record and as the dollar advanced.

Bullion's 14-day relative strength index has been held in more than 70 since 13 November chart signal that gold prices can be set down. Gold for immediate delivery reached an all time high of $ 1174 per ounce yesterday and advanced 5.6 percent in the past seven days as the dollar fell 0.6 percent against a basket of six major currencies.

"With the increase in price as we have seen in two weeks, there must be small corrections along the way, especially when the resilience of the dollar signs," said Steven Zhu, head trader at Shanghai Futures Co. Tonglian "appetite of investors will be able to keep momentum at least until end of the year. "

Soon-bullion delivery fell as much as 0.7 percent to $ 1,158.28 an ounce, and traded at $ 1,159.74 at 9:49 pm Singapore time. December-delivery gold on the Comex division of the New York Mercantile Exchange was trading 0.4 percent lower at $ 1160 per ounce after yesterday reached a record $ 1174.

15 dollar rose against the currencies of the 16 most-active as traders took the bet to decrease before the U.S. Thanksgiving holiday this week, and before the release today of revised gross domestic product data expected to show the U.S. economy grew more slowly than expected in the initial velocity the third quarter.

Ownership in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, rose yesterday to 1,121.46 metric tons, the most since June 29. Investment demand for the metal as a haven against the dollar falling and inflation expectations have been boosted gold prices by 32 percent this year.

Among other precious metals for immediate delivery, silver was little changed at $ 18.545 an ounce, platinum fell 0.6 percent to $ 1,450.50 an ounce, while palladium fell 0.1 percent to $ 371.50 an ounce at 9:42 in Singapore.

source: bloomberg.com

Glencore Will Buy Back Prodeco Coal Mines Assets From Xstrata Mining Company

Glencore is a mining company that operates mines Prodeco. Prodeco coal mines located in the territory of Colombia. Prodeco mining assets sold to Xstrata in January, when the weakened financial companies.

Prodeco sales of $ 2 billion are allowed to subscribe to Glencore rights issues Xstrata, the London listed global miner where Glencore has a 34 percent stake.

Since then, Xstrata has Prodeco important for financial recovery. Assets alone Xstrata lifted production of coal, the most profitable commodity, the company's first quarter and third quarter.

Along with improving corporate financial, mining companies plan to buy back the coal mines of Xstrata Prodeco.

Glencore can make a call option to buy back Prodeco for $ 2.25bn before March 4. But before the third-quarter earnings reports remaining concerns that the buy-back, even if affordable, not in the interests of improving the value of Glencore credit.

Miriam Hehir, a credit analyst at RBC Capital Markets in London, gave a statement "We're hoping to buy back from Glencore related Prodeco Xstrata options before ending in early March. The minimum price was $ 2.25bn, but we could see it again changed hands for several hundred million on top of this, Glencore could reduce the need for funds associated with the minority partners may be involved, or disposal elsewhere.

US-China Enhance Cooperation Use Of Clean Coal Technology : “21st Century Coal”

China and the United States is the country's largest coal energy users in the world. Growth of industrial sector in both countries is causing the energy use of coal increased in both countries.

Increased use of coal as an energy source to make the two countries plan to use coal technology and the exploration of coal as an environmentally friendly energy.


Meeting of leaders of both countries, Barack Obama and Hu Jintao called on all mining and energy development company that sourced from coal to find solutions that clean coal technology. The agreement committed both countries to develop clean coal technology, called "'21st Century Coal".

The announcement the president of what is called "21st Century Coal" consists of a variety of partnerships:

- Some of the partnerships seeking cost effective ways to reduce the synthetic gas from coal. General Electric, for example, will continue its joint venture with Shenhua Group to develop technologies and business models related to coal gasification. United States Trade and Development Agency will also support a feasibility study of integrated gasification combined cycle (IGCC) power plant in China that will use technology developed in cooperation with the U.S. China Power Engineering and Consulting Group.

- In another project, St. Louis-based Peabody Energy is a coalition working with energy companies in China GreenGen, a project to develop "near-zero emissions coal power plant," according to DOE.

- A partnership between a subsidiary of AES and Shenzhen Dongjiang Environmental Recycling Songzao Electric Power and Coal and tried to use the methane recovered from coal mines to generate electricity.

- Two others involve the U.S. National Energy Technology Laboratory studied the feasibility of carbon capture and storage, or CCS, coal-based facilities in China in cooperation with Shenhua Group and Shaanxi Institute of Energy Resources and Chemical Engineering.

Chinese Mining Companes To Promote Clean Coal Technologies

10 Chinese coal producers have joined a United Nations program to promote the development and deployment of clean coal technologies. This step aims to reduce emissions and environmental pollution. But some analysts believe it will take time for China to reduce reliance on coal.

Last year, China consumed 2.7 billion tons of coal.

To combat the negative impacts, many domestic coal producers will now collaborate with the United Nations Global Compact Program. The Company has adopted a business model that emphasizes 0 emissions and no pollution.

Laohu song, GN, Shanxi Huangling Mining Group, said, "clean coal technologies can help us reduce solid waste by almost 300 thousand tons per year. Sulfur dioxide and emissions, we can also be reduced by 500 tons per year."

Adoption of clean coal technologies require a large mountain of capital injections. High initial costs have raised fears the feasibility of the investment pay off in the future. But belive people in the technology industry can accelerate their earnings growth.

Song also said, "Recycling can reduce the company's dependence on rail transport. So, there will be no emissions, no waste and no solid waste disposal. And our earnings will also be encouraged."

Georg Kell, Executive Director of UN Global Company, said, "I am very ... ... .. We encourage companies ... .."

The first 10 Chinese coal producers group of companies to join the UN Global Compact Program. They are entitled to use the UN as a platform to work with leading companies world to exchange information on technologies and business models.

Coal export quota of 150 Million Tonnes per Year

To meet the needs of domestic coal continues to increase the government plans to restrict the export quota of 150 million tons per year. It is estimated that coal demand will increase following the completion of the project 10,000 MW of electricity acceleration.

Government policy is to prioritize the fulfillment of coal for domestic needs they need to export restrictions. Following the completion of the acceleration of 10,000 MW project Phase II, coal demand for power will increase by 65-70 million tons per year. Export restrictions will be conducted after the government regulations as mandated by Law No. 4 Year 2009 on Coal Mining and the targeted completion later this year, Minister of Energy and Mineral Resources said in a press conference after reviewing the exhibition "The Energy & Mining Indonesia Series 2009". Wednesday (14/10).

"We are optimistic that coal production could be increased because of Indonesia coal reserve reaches 20 billion tons, with potential for 90 billion tons, so actually there is great potential that could be developed depending on size of investment that we can do to convert the potential of the 90 billion tonnes," continued the Minister

Currently Indonesian coal production said Director General of Mineral, Coal and Geothermal Bambang Setiawan Department of Energy and Mineral Resources, this year is estimated to reach 230 million tons, designated for the domestic needs of 68.5 million tons, and approximately 45-46 million tonnes of which was allocated for power needs .

Alexi Mineral To Start Gold Mine Exploration in Rouyn-Noranda

Alexis mining companies have started exploration projects, gold mining in Pelletier Lac Rouyn-Noranda, Quebec. Alexis mining companies have been excavating two mining zones of the four gold mine plan. Alexis expects mining companies than 40,000 tons of samples can produce 9400 tons of gold. It is expected that in 2010 the ore milling project will be completed next company will make plans to conduct exploration of gold mines.

Lac Pelletier gold mine is located 4 km southwest of Rouyn-Noranda, Quebec, in Abitibi Mining Camp productive, historically one of the world's top gold-producing region. Lac Pelletier Gold Mine is expected to generate more than CDN $ 20.7 million in free cash flow of approximately 118,100 oz Au (109,300 ounces recovered) more than the estimated project life of at least 3 years.

All requests submitted permit full production, and the Company expects to receive confirmation of this before the end of 2009. A feasibility study began in mid-October and is expected to be completed on reconciliation results of 40,000 tons of milling most of the samples in February 2010.

Alexis' management expects to make a positive production decision in the first week of March 2010 subject to the results of bulk samples and feasibility studies. With the production of Lac Pelletier, gold companies will increase total output by 2010 to an annual level of between 75,000 and 80,000 ounces of gold per year, including production from Lac Herbin gold mine. This will be another important step achievement of the new Corporate Strategy to develop mid Alexis gold mining company's production level.

Galaxy Resources Opens Lithium Mine Project at Ravensthorpe in Western Australia

Australian mining companies will make lithium mining exploration Ravensthorpe, Western Australia. Ravensthorpe mine in the area once used by the mining company BHP Billiton nickel mine exploration, but exploration of the nickel mines closed, so that the people in the Ravensthorpe area lost their jobs. Re-opening of mining exploration activities in the area of lithium Ravensthorpe mine gave good news to the residents agree, because the area around Ravensthorpe I will get the job.
Galaxy Resources Director Iggy Tan said, "that this project will provide significant benefits to the region Mt Cattlin using a workforce housing, with a flow-on effects to local industries and businesses. In 2010, I'll Mt Cattlin second largest in spodumene world of hard rock producer, and will be one of the three current lithium minerals mined commercially, together with petalite and lepidolite. "

Independent research house Stock Resource, said in a research note this week that the Galaxy and Orocobre Ltd is the only Australian listed on the stock exchange companies that offer investors exposure to lithium, with a focus on Orocobre argentina.

Alexi Mineral To Start Gold Mine Exploration in Rouyn-Noranda

Alexis mining companies have started exploration projects, gold mining in Pelletier Lac Rouyn-Noranda, Quebec. Alexis mining companies have been excavating two mining zones of the four gold mine plan. Alexis expects mining companies than 40,000 tons of samples can produce 9400 tons of gold. It is expected that in 2010 the ore milling project will be completed next company will make plans to conduct exploration of gold mines.



Lac Pelletier gold mine is located 4 km southwest of Rouyn-Noranda, Quebec, in Abitibi Mining Camp productive, historically one of the world's top gold-producing region. Lac Pelletier Gold Mine is expected to generate more than CDN $ 20.7 million in free cash flow of approximately 118,100 oz Au (109,300 ounces recovered) more than the estimated project life of at least 3 years.



All requests submitted permit full production, and the Company expects to receive confirmation of this before the end of 2009. A feasibility study began in mid-October and is expected to be completed on reconciliation results of 40,000 tons of milling most of the samples in February 2010.



Alexis' management expects to make a positive production decision in the first week of March 2010 subject to the results of bulk samples and feasibility studies. With the production of Lac Pelletier, gold companies will increase total output by 2010 to an annual level of between 75,000 and 80,000 ounces of gold per year, including production from Lac Herbin gold mine. This will be another important step achievement of the new Corporate Strategy to develop mid Alexis gold mining company's production level.

CGE Participated In Joint Venture Agreement Underground Coal Gasification In Mongolia

Project underground coal gasification in Mongolia will be conducted by a joint venture. This project will explore coal 1.8 billion tons of coal deposits in Mongolia. Companies that participate in the projects of coal gasification, among others: Yusenjiayu Environmental Protection Technology Beijing, Inner Mongolia, Xin Gu Goldbridge Clean Energy Mines and Tech.

The JV plans to make capital-raising activities for projects in the Hong Kong Stock Exchange not less than $ 120m and debt financing not more than $ 280m.

CGE is a mining company that will join the joint venture underground coal gasification in Mongolia. CGE will design, operate and manage the UCG plant.

Before the list, initial $ 1m fund to be donated by the JV partners in proportion to each party shareholder. CGE had to chip in $ 350,000, which will be funded from existing cash reserves.

Mesa Uranium Obtain Exploration Lithium Mining Project in Utah

Mesa Uranium is reported to have received the rights Seluar exploration mining projects lithium 10 square miles in Utah. Lithium mining project will be managed by Mesa for the anticipated growth in demand and supply of lithium carbonate, industrial lithium-ion batteries, electric hybrid and electric cars will increase in 2012.

Lithium mining project that will excavated from oil exploration wells proyel Green Energy. More than two dozen oil exploration wells have been drilled in the Green Energy project, five of these wells have the analytical data for lithium.



The results of the analysis, Lithium occur in large projects with high value of 1700 ppm lithium (0.9% Li2CO3) in saturated salt water. Salt water was discovered in the 1960s when oil exploration wells encountered a blow-out drilling in Bed # 31 of the Paradox Formation. Free-flowing salt water pressure during drilling operations and is considered annoying, are rarely analyzed chemically or flow-rate testing.

Lithium brine mining more economical to mine and process than conventional open-pit or underground mines. Given the favorable climate of solar evaporation area can be used to concentrate the water projects to improve the economy of salt.

World-class lithium brine mine in the class ranged from 150 ppm to 1,200 ppm of lithium and employ proven solar evaporation concentration techniques.

Mesa now evaluating all the available new and historic exploration drilling logs. A professional engineering firm will be involved to evaluate the data of drilling, reservoir potential and extraction methods on the Green Energy project.

Although the Company has no reason to doubt the historical accuracy of the results, the data can not be relied upon until confirmed by the Company's own exploration. History and results of their work to produce effective pre-dates National Instrument 43-101 and in accordance may not meet policy requirements. There are 43-101 mineral reserves or mineral resources in the Green Energy lithium project. Potential quantity and value shown above is conceptual in nature and have been provided for illustrative purposes only.

Currently 25 contractors Oil and Gas Production Projected Fill

A total of 25 contractors contracts (KKKS) has yet to reach oil production targets.

Nine of them received a yellow card because it could only achieve 95% production target, while 14 others received a red card because the achievement of production is still below 95%.

Minister of Energy and Mineral Resources Purnomo Yusgiantoro explained, there are several obstacles that hamper the achievement KKKS production.

Among them is limited rigs and production facilities, land acquisition, to fumble seismic prediction.

"Most of the problems that hamper the operational problems. There are estimates that if this problem continues, might not achieve its production targets.'s Why we are here to solve the problem," said Purnomo.

He put it in a press conference after the evaluation of oil and gas production KKKS at the Department of Energy and Mineral Resources Building, Jakarta, Friday (19/6/2008).

Meanwhile, according to the BP Migas chief R Priyono, if it is difficult to obtain rental rigs (derrick), he suggested KKKS to buy it.

"Maybe if you could buy a better chance. Moreover, more long-term impact," he said.

In total there are 37 oil and gas companies operating in Indonesia. Outside the 25 KKKS who have not reached the production targets, production of 12 other KKKS can cover the lack of production.

This is evident from the production of crude oil and condensate national to June 15, 2008 reached 978 thousand barrels per day. Thin on top APBNP target for 2008 is 977 thousand barrels per day.

Purnomo, however did not explain what sanctions will be imposed on KKKS who failed to reach production targets. "We do need to see why, too," he said.

Coal Contract Price Adjusted Market Mechanism

The Government will evaluate all coal sales contracts there. All contracts are still using fixed price (fixed / flat) will be revamped with fluctuating prices.

This was conveyed by the Director General Simon Sembiring Minerbapabum interrupted a hearing with House Commission VII on the MPR / DPR, Jakarta, Thursday (19/6/2008).

"Sales contracts that we now evaluate gimana. It's not that the sales contract must fix the rate. For example, 5-year agreement contrived, OK U.S. $ 30 dollars per ton to 5 years. I can not then," he said.

Simon emphasized that the government wanted the price stated in the coal sales contract is a fluctuation formula. So that the sales price of coal could follow market prices.

"So if you take U.S. $ 1 at the market price then what percentage of the price rises. And so if you come down to U.S. $ 1, what percentage of the decline," he said.

With such a formula, according to Simon, will benefit both parties, both sellers and buyers. So when prices rise, sellers would benefit. And when prices fall, buyers will also benefit.

"That way you can to protect the seller and buyer. Hence, there should be a clause that," he said.

So far, there are some contracts that are still using fixed price. If anyone intends to use the escalation clause to include only 'can be reviewed every year'.

Simon emphasized, using a fixed price is justified by a business for both parties agree. But on the other hand, if the price remained low in the contract when market prices are high, the state also lost potential profits.

Because the government owns 13.5% of the sale of coal. So if coal is sold at below market prices, the government is also a loss. Not to mention the potential loss of tax because the seller to get a low price.

"The business is okay, but it's ours 13.5%. And then if he is less income, the income tax he was also less," said Simon.

But Simon did not specify when the obligation fluctuating prices will apply.

BP Migas Prepare Share Option Expense

Head of BP Migas R Priyono in Jakarta, Friday (13 / 6) says, a number of options discussed include additional gains tax, export tax, changes to the results, or changes in the calculation of operating costs refunded (cost recovery). "We prepared a number of options, the Ministry of Finance will decide," he said.

Prefer it changes the calculation for cost recovery does not need to change the employment contract with him. Another option was a last option because it had to change the contract.

Coal and Uranium Mining Company, Atomic Resources To Explore Coal Mine In Tanzania

Coal and uranium exploration company Atom Resources has secured the concession rights to two key new exploration include the extension of the northern coalfield in western Tanzania Ngaka.

Mr. David Holden, MD of Atomic Resources said that "a new concession twice the size of exploration area in the Ngaka coalfield, increasing the potential for atomic resources, and provide Atom dominant position in the coal industry in Tanzania."

He said that the new concessions are also strengthening the company's position in the center of the coal industry of Tanzania, and its relationship with joint venture partner, National Development Corporation in Tanzania.

Atom reported that the Tanzanian government recently announced its intention to build a new 400 MW coal thermal power plant in 2011, which will form the basis of the domestic power supply.

Mr. Holden said that "tanzania is growing rapidly and require substantial, inexpensive and reliable source of energy to fuel economic development. Atomic's substantial thermal coal fields in western Tanzania are ideally situated to provide raw materials for coal power plants are being planned for Tanzania and we are at the forefront of this rapidly growing new industry.

Source: SteelGuru

Coal Mine Exploration Accident in China, 74 Killed Mine Workers

At least 74 miners were killed and some trapped under the ground - and feared dead - after a gas explosion rocked a large coal mine in Shanxi province Sunday morning.

The explosion occurred at 2:17 pm while 436 employees Tunlan Coal Mine were working underground at Gujiao, 60 km west of Taiyuan, the provincial capital of the rich coal.

Of 114 miners in the hospital, 26 were in critical condition last night, officials said.

More than 300 are believed to have escaped from a hole in the first hour of the explosion, including a lot of people treated in hospital, an employee who records the flow of workers to the China Daily.

He said the first batch of rescuers reached the site at around 3:20.

As many as 57 rescue teams, some from other places, including Taiyuan, involved in rescue operations, local police said.

But residents say Gujiao, the number was not enough.

"The rescue team here in this mine is very short as the headquarters based in Taiyuan," Kang Changqing, a former miner who lives in Tunlan nearby, told China Daily.

Although his village, Liangzhuang, is 3.5 km away, Kang, 46, said people there were the first to know about the explosion and called the police.

"The two intake portions of the hole - which links to the outside and provides fresh air into the mine - was built by the road outside my house," he said, adding that most of the village was awakened by "two huge explosions" at 2: 18 am.

When the explosion occurred more than 400 m below the ground, the mine was not the first observer to know about the accident, according to other villagers.

"The parts on the ground that consumed completely destroyed. Lucky for us, the explosion occurred at night when no one was around," said Kang.

After saving suspended for the day at 6 pm yesterday, the rescue headquarters confirmed that the death toll stood at 74, without announcing the number of miners were still trapped - or whether there had been trapped at all.

President Hu Jintao and Prime Minister Wen Jiabao issued instructions to all things that might be done to save those still trapped in the mine, CCTV reported.

Three days before the explosion, Wang Jun, the Governor of Shanxi, when reviewing the safety procedures for working in Taiyuan, the provincial warning - which often witness coal mine disaster - "had run out of tears to shed".

After climbing out of the hole off, several rescue teams wasted no time calling home on their mobile device.

"If I do not call them immediately, they will begin to worry about the safety and mental health," surnamed Zhao told China Daily the savior. "My family probably thought I was crazy after going through all this every time," he said.

Zhao, part of the provincial mine rescue team, started work immediately after reaching the hole in the morning and not come out until 5:30.

The Tunlan mine, which has a capacity of 5 million tons, operated by Jiaomei Shanxi Group.

The death toll yesterday made the most deadly accidents reported in the mining industry after 276 people died in the collapse of iron ore that does not have permission reservoir last September, also in Shanxi.

China Coal Mine Producer, Xinjiang Plans Increase Coal Mine Production To Reach 150 Million Tonnes in 2010

The level of mechanization of the main Chinese coal-producing zone has reached 90.57%, and China's raw coal production remained at 62.2 million tons increased 24% YoY. Xinjiang Autonomous Region is expected to produce more than 80 million tons of coal in 2009 and 150 million tons in 2010.

According to the sources of the coal industry administration bureau of Xinjiang, Xinjiang has in recent years really pushing forward the process of upgrading and optimizing industrial structure, and has closed the coal mines with less than 30,000 tonnes per annum capacity. There were 298 coal mines in Xinjiang today, compared with the number 1798 in 1998.

Source: SteelGuru

Canadian Embassy Mining Opportunities Seminar Held in Indonesia

JAKARTA. Minister of Energy and Mineral Resources on Monday (16 / 3) opened the seminar titled "Seminar on Indonesia's Mining Opportunities", organized by the embassies of Canada and in collaboration with the Indonesian Mining Association (IMA). The seminar took place in Bimasena is scheduled to be held until March 17. This activity is part of a series of Canadian mining mission to seek opportunities for mining companies in the world of Canadian mining in Indonesia.

In his speech, Officials revealed that this activity shows that there is a large concern of mine in the Canadian actors on the business opportunities of natural resources in Indonesia, especially mineral and coal mining are entering a new era with Minerba Act. "Act Minerba intended to benefit all stakeholders, that is the responsibility of us all to cooperate in the mining sector to create a more modern and profitable".

In addition to seminars, mining missions are also filled by networking event with members of the Indonesian Mining Association (API), and a series of visits to the field. Canadian mining companies attend the event consisted of Barrick Gold, East Asia Minerals Corp., Kalimantan Gold Corp., Southern Arc Minerals, Sheritt International, Sierra Geological Corporation, and South East Asia Mining Corporation. Event mining mission will last until March 19, 2009.

LG Corp Sign Agreement Joint Venture With Canadian Energy Firim To Develop Coal Mine Exploration

South Korean trading house Nokia Corp. said on Wednesday it has set up a joint venture with Canadian energy companies and a Japanese trading house to develop coal mines in Canada.

The $ 11 million Comox Joint Venture with Canada's Compliance Energy Corp (CEC.V) and Japan's Itochu (8001.T) was established to enter Raven coal projects in Canada, Nokia Corp. said.

"Itochu Corp. and LG each have 20 percent stake in joint ventures. Adherence to have a break," said a spokesman at the South Korean company.

The Raven Coal Project, located in Vancouver, has 59 million tonnes of inferred coal resources, about 90 percent of South Korea's 64 million tons of coal from the total imports last year.

This joint venture is expected to begin production around 2012.

Centerra Gold Says Mongolia Suspended Boroo Permit

Jun 12 (Bloomberg) - Centerra Gold Inc, a gold producer by Cameco Corp., said that the Mongolian government's permission to temporarily suspended operations for companies Boroo and can revoke them after review.

Mongolia's mining regulators suspended the permits valid for three months after inspectors cited "issues related to operations such as maintaining license records, one of the land, the handling and operating procedures," Toronto-based Centerra said in a statement today. Company says it is working with regulators to resolve the problem.

Boroo is one of the two Centerra production assets, which include the Kumtor mine in the Kyrgyz Republic. The company seeks to increase output to benefit from the price of gold increased 29 percent since Oct. 24, when the bullion reached a year low in New York.

Centerra said that years of negotiations an agreement with Mongolia's mining regulator for the development of the Gatsuurt gold deposits, about 35 kilometers (22 miles) from Boroo.

Centerra down 46 cents, or 6.3 percent, to C $ 6.84 at 11:03 on the Toronto Stock Exchange trading. Stocks that were down 10 percent, the biggest intraday decline since April 30. Centerra gain 64 percent this year before today.

Centerra announced in a separate statement yesterday that the closing agreement with the Kyrgyz government to resolve the legal disputes that threaten the Kumtor mine.

Under the agreement, Cameco, the world's largest uranium producer, will transfer to the government's 53 percent in the pole Centerra. In April, Cameco said its stake in May fell as low as 38 percent.

To contact the reporter on this story: Rob Delaney in Toronto at robdelaney@bloomberg.net.

Agnico-Eagle Mines, Ltd.

All right, good morning, everyone. We will continue to just keep things rolling. My name is Jay Basal [id] from Wall Street Analyst Forum. And I will be the host for the rest of the day. At this time, I would ask anyone with a mobile phone or mobile device to switch to a position in the inactive or idle for the presentation and not in accordance with the University Club's mobile phone policy. And after the presentation, you can join with us in the breakout rooms, and in the adjacent room for Q & A.

And this day is a presenter Agnico-Eagle Mines Limited and they are the company's international growth, with a focus on gold in Quebec and Finland and the basic and advanced project opportunities in Canada, Mexico, Finland and the United States. They LaRonde mine in Quebec is Canada's largest operating gold mine. In terms of reserves, the mine produced strong earnings and cash flow which is very good and is the foundation for international expansion Agnico.

So without a noise, I will give David Smith, who is Vice President of Investor Relations.

David Smith

Thanks very much, Jay. And thank you, Ladies and Gentlemen, to this day come to hear the presentation on Agnico-Eagle. I feel very interesting that we talk after a real estate investment company, that seems to be a very conservative company, has a long history and operations that really is very similar to Agnico-Eagle.

Agnico-Eagle has been around for 52 years and is a very conservative company. W.P. Carey's Annual Report as we have seen turtles and rabbits in the future. We are also thinking about ourselves as a turtle forthright. In fact, recently issued a Canadian business magazine has been our CEO a turtle race and even beat him with the turtle and for those of you who want to know.

I will certainly covered by the forward-looking statements. Gold is in a position that is very interesting today. We have put some quotes here interesting in the fourth. This is our Annual Reports from 1999 and I really have hit back home that even 10 years later, we still believe that gold is very strong for each person's portfolio. Of course gold is money and I think there may be several generations of North America are sure that gold is money.

I think unfortunately we will remember for many years. Of course Europe, you go to Switzerland and speak with them, and Switzerland does not need to be sure that there is a place for gold in the portfolio. We certainly believe in Agnico is very strong in the future for gold.

I see the gold is actually quite simple. I think that the speed of money clearly a cliff fall, but has provided money through the roof. At some point in the future, in the next few years, I believe that the velocity of money will naturally rebound to more normalized rate, and I believe that that will take inflation with it. And in an inflationary environment, gold is usually done very well.

Slide five really - really the company's strategy for Agnico. We are a conservative company, but we're very focused on the evaluation per share. We really have no interest in becoming a larger company only for the sake of the greater. Surely there are some - some of our competitors may charge that some of them only get bigger for the sake of the greater, but not one of Agnico company. And return to the tortoise and the hare analogy, of course that has been around 52 years old and still truly midsized companies at this point, I do not think you can really accuse us of.to find more just visit : www.seekingalpha.com

subsidiary, Queenstake Resources USA, Inc. takes over suspended operations to accelerate installation of new mercury emission system

Vancouver, June 11 / PRNewswire-FirstCall / - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: Qb6) announced that a subsidiary, Queenstake Resources USA, Inc. ( "Queenstake" or the "Company") has taken action to have a more direct implementation of the Jerritt Canyon operation to accelerate and complete the installation of new mercury-emission-control system in its wholly owned Jerritt Canyon Mine located in Nevada, in response to the Stop Order 2009-6 issued by the Nevada Division of Environmental Protection ( "NDEP" ) last week.

Next to the NDEP Order 2009-4 due to the delay in making a fiberglass ductwork, Queenstake can not meet the deadline to complete the installation of new mercury - emission - control equipment on the Jerritt Canyon Mine by 30 May 2009. Therefore, in accordance with the NDEP Order 2009-4 and 2009-6 Order Stop NDEP received at 4:00 Friday June 5, 2009, Queenstake owned subsidiary of Yukon Nevada Gold Corp. ( "YNG"), has taken steps to focus on all operations Jerritt Canyon Mine on the completed the requirements of those orders. Orders which require the Company to comply with all the previous meet standard including air temperature emissions.

The Company will focus on all cooperation with the outside consultants are now involved in accordance with the order, and fast tracking the completion of the work required. It is estimated that this and other work needed to bring the company back to full compliance will be completed June 30. A proposed order to return to the status of fully operational license subject to the above work is being completed is prepared in parallel with work on the program.

Appointed a new President and CEO, Mr. Robert Baldock said, "To achieve this program, the Company has decided to be more actively involved in the Jerritt Canyon facilities. I ask the new Coo appointed to take over responsibility for the implementation of the operation, including supervision of staff and contractors on site it. This will give the company more control directly from the mining and milling operations, facilitating the financing of the operation and re-start from the mill and mine. "

At the same time, the Company has undertaken a significant upgrade and maintenance program that milling and ore treatment facilities to allow continuous and reliable 24 / 7 operation. This program will be enhanced to include the outstanding issues in accordance with the Company's future start-up plan to NDEP.

The Company reserves and resources at Jerritt Canyon, not accounting for dilution and mining in 2008, is 717,300 ounces of gold in proven and possible category and 1,961,100 in the measured and indicated category as reported on 16 April 2008 NI 43-101 report which can be found in the www.sedar.com or on our website here: http://www.yukon-nevadagold.com/i/pdf/Jerritt-NI430101-Apr08.pdf. In addition, there are already ounces mined and stockpiled in the run-of-mine ( "ROM") pad. ROM pad this source will enable the company to achieve throughput that is now budgeted 3300 tons per day. After the return of the grinding is sufficient to produce at least 2000 ounces of gold per week for nine months with the cost per ounce of $ 300 USD.

Mill facilities are currently licensed to treat 4,320 tpd with the potential capacity of 6000 tpd.

To ensure the operation is in progress after the ROM supplies are processed, the Company has hired a mine manager and additional staff who are planning a return to the beginning of the underground mining operations. Company mined ore will be supplemented by toll treat ore from now to identify customers that are not good or poor mill capacity in each facility. The Company is now in discussions with two "in the economic haulage distance" and the company is a combination ore resources will enable the company to achieve the most are not allowed throughput from 4320 tpd operation once again allowed to begin.

Akan ada job fair held on June 11 at 11:00 PST at the Hotel Hilton Garden Inn, 3650 East Idaho Street, Elko, Nevada.

HISTORY:

After a year-long investigation into mercury emissions, in March 2008 that ordered Queenstake Resources NDEP to install new state-of-the-art emissions control equipment in the Jerritt Canyon Mine at the end of that year. Before NDEP's order satisfied, Queenstake, by their own actions, to stop mining and ore processing in the Jerritt Canyon Mine in August 2008. Facilities remain closed while a new emission control system is designed. Queenstake and staff from the NDEP work together to complete some of the air emissions problems associated with the burning operation. YNGC designed from the new mercury control and the system is expected to control mercury and other emissions to a level below the emission standard.