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

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From: koan	10/29/2006 2:34:55 PM
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Iron, steel and copper imports increase by 211 per cent since 2002 in Dubai UAE - 2006 October 29 Dubai spends Dh12bn on copper, steel and iron imports last year Dubai accounted for more than a quarter of all steel, iron and copper imports into the GCC in 2005, according to a report released yesterday. The study by DMG Media found the emirate spent nearly Dh12 billion on the three metals last year, compared to nearly Dh17bn for the whole UAE and Dh48.19bn in the GCC during the same period. For Dubai, this was a 23 per cent rise on 2004, while the continued construction boom has seen iron, steel and copper imports increase by 211 per cent since 2002. Construction Boom According to the report, more than 2,100 projects worth more than a trillion dollars have been announced in the region, with Gulf states making up $880 billion (Dh3.2trillion). This breaks down into $560bn (Dh2.05trn) of planned projects and $320bn (Dh1.17trn) of construction work now at various stages of development. Of this Dh1.17trn, the UAE accounts for 55 per cent, Kuwait 19 per cent and Saudi Arabia eight per cent. 1 USD = 3.67 AED Source: Emirates Today

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