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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: Valuepro	9/8/2008 9:50:50 AM
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Cardero's 1 billion tonne iron project in Peru returns bench-scale mini-pot pellets with a preliminary grade of 65.1%. biz.yahoo.com Nearby is another 1 billion tonne prospect, and a massive iron sands resource. Unlike other metals, quality iron is not suffering pricewise. In fact, there was a story out last week that Vale is trying raise prices 20 percent mid contract for iron from Brazil to China. What is behind this is lower shipping costs, now that shipping fleet have excess capacity. This makes iron from Brazil cheaper than when the present contract began, and puts Vale at a disadvantage to companies shipping iron from Australia. Further, there are are virtually no stockpiles of quality iron available in China, though India's lesser quality stuff is hardly shipping at all, and inefficient processors/steel producers are shutting down in China. Lee Kuan Yew, former prime minister of Singapore, reports in Forbes magazine this week that he is looking for further economic expansion in India and China, and that each is capable of moving consumer spending from 35 percent GNP to 50-60 percent, more than making up for slower growth in the West.

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