Saturday, April 17, 2010

Mogi's April 16, 2010 Morning News

Gulfside acquires additional Onjuul licenses

VANCOUVER, April 15 /PRNewswire-FirstCall/ - Robert L. Card, President of Gulfside Minerals Ltd., ("Gulfside" or the "Company") (TSXV:GMG) is pleased to report that the Company has signed the final Earn-in Agreements ("EIA") with two private Mongolian companies to acquire 100% interest in two Mining Exploration Licenses which are located to the north and north east of its Black Hole and Onjuul projects and approximately 170 km south west of Ulaanbaatar in Mongolia.

The two additional licenses add 10,319 hectares (ha) (25,499 acres) to the Company's holdings which increases the size from 2,156 ha to 12,475 ha. The new licenses border the present holdings on the north and north east side. Initial indications from the Company's first phase drilling program suggest the coal bearing structure trends north and north east into the licenses covered under the EIA.

China's coal output up 28.1% in Q1

BEIJING, April 15 (Xinhua) -- China's coal output grew 28.1 percent year on year to well over 751 million tonnes in the first quarter, the National Bureau of Statistics (NBS) said Thursday.
Mergers and acquisitions in coal-rich areas such as Shanxi Province, Henan Province and Inner Mongolia Autonomous Region are expected to create large coal mine groups and further raise the nation's coal production, the report said.

Rio Tinto’s First-Quarter Iron Ore Output Rises 39%

April 15 (Bloomberg) -- Rio Tinto Group, the world’s third- largest mining company, said first-quarter iron ore production jumped 39 percent as demand from China surged and after output a year earlier was curbed because of heavy rains.
“The production numbers and the guidance overall was slightly disappointing, particularly on copper,” Paul Cliff, an analyst at Nomura Holdings Inc. in London, said today by phone. “That conclusion dwarfs in comparison to the story unfolding in terms of what they can earn from their iron ore business over the next couple of years.”

Rio is boosting output of the steelmaking raw material to take advantage of rising prices and increased Chinese demand, today forecasting an 8 percent gain in 2010 production. UBS this week lifted its estimate for Rio’s 2010 underlying earnings by 20 percent to $14.5 billion on higher iron ore price forecasts

Rio Tinto eyes recovery in iron ore production

April 15 (FT) Strong demand from China and a recovery in iron ore production at its principal Australian mine, led Rio Tinto on Thursday to nudge its full-year production forecasts upwards.
Rio Tinto is now targeting production of 234m tonnes of iron ore from its Canadian and Australian mines, slightly ahead of the 230m tonnes the company forecast in January. This would mark a 7 per cent increase on 2009, when the company produced 217m tonnes of iron ore.

Last week, Rio Tinto decided to follow its competitors Vale and BHP Billiton and scrap the 40-year old annual negotiations of iron ore prices with steelmakers, and instead shift to quarterly contracts.

China to examine iron ore market

April 15 ( The Chinese government has launched an investigation into the seaborne iron-ore market, amid claims that BHP Billiton, Rio Tinto and Vale are monopolising supplies of the steel-making raw material.
The investigation has been launched after iron ore suppliers secured price increases of 90pc last month and moved to a quarterly pricing mechanism, instead of the traditional annual benchmark system.

Cypher Environmental Ltd.: Environmentally Friendly Dust Control Solution Introduced to Mine Haul Roads in the Harsh Gobi Desert

WINNIPEG, MANITOBA--(Marketwire - April 15, 2010) - Cypher Environmental Ltd. -

... A solution was desperately needed for dust control and soil stabilization on a coal mine haul road that stretches over 100 km long that hauls coal from Southern Mongolia into Northern China.

In May of 2009, tests were carried out using two of Cypher Environmental Ltd's 100% environmentally friendly soil stabilization and dust control products; EarthZyme and Dust Stop, both of which had overwhelming success.

On average, 300 trucks weighing 100 tons each travel back and forth from Mongolia to China on a daily basis using the haul road, which is why dust control and soil stabilization were such a major concern. A demonstration was carried out on 500 meters of the mine haul road using EarthZyme to help stabilize the soil and reduce the dust.

No comments:

Post a Comment