Moly Mines Investment Gets Final Approval From China Government
Mar/17/2010 | Under : Companies - Investment - Metals & Mineral - Mineral Exploration - Steel Industry
A major investment by a Chinese company puts a big mining project near Eureka back on track.
General Moly Mines Ltd. expects to begin mining construction of its Mount Hope molybdenum mine in early 2011, with production scheduled to begin 20 months later.
Construction employment is projected to average more than 700 workers, with peak employment near 1,000. General Moly has said the mine will employ 400 people when it’s in operation.
The project had been on a slow track until General Moly reached agreement with Sichuan Hanlong Group about 10 days ago.
The Chinese company will make an $80 million equity investment in General Moly, taking a 25 percent stake in the company headquartered at Lakewood, Colo. [Read More]
Stock Market Report: European Stock Markets Weakened, London FTSE 100 Index Rose 0.14 Percent, Paris CAC Down 0.19 Percent
Oct/12/2009 | Under : Business - Finance - Stock - Trade & Market
Stock market development in some increase in the stock market, selling shares of gold mining companies become leaders in improving the stock sales. However, some stock market decline, the European stock market decline, some investors took profits in some sectors and there are no significant economic news to the decision-making. [Read More]
Chinese Nickel Company Gobimin Plans Into New Mining Business on Silver, Gold and Copper Domestic Market
Oct/06/2009 | Under : Companies - Mineral Exploration - Nickel Mine
Chinese nickel company Gobimin dumped its nickel assets and is embarking on a new business model of becoming a vertically integrated silver marketer and silver refiner to serve China’s domestic market.
[Read More]
South Africa Stock Fell, Commodity Prices To Extend Declines
Oct/02/2009 | Under : Commodity Prices - Stock - Trade & Market
South Africa’s FTSE/JSE Africa All Share Index fell for the first time in three days, losing 447.11, or 1.8 percent, to 24,519.76, as unemployment in the U.S. at a 26-year high stoked concern the global economic recovery won’t last, prompting commodity prices to extend declines. The measure dropped 1.7 percent this week, a second week of declines. [Read More]