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

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To: Cogito Ergo Sum who wrote (33031)	2/16/2007 4:54:56 AM
From: Chuckles_Bee	Read Replies (2) of 78410

China won't do anything to mess up the value of their more than a trillion dollars in foreign reserves ....until they are done shopping: From: China changes rules of resource game "A sign of things to come is the Belinga Project in Gabon. Purported to be the largest untapped iron-ore reserves in the world, a Chinese consortium came head to head in the contract bidding with Brazil’s CVRD -- the world’s largest iron-ore producer. Because Gabon’s iron-ore reserves are situated deep in equatorial forests, massive infrastructural costs have excluded previous iron-ore suitors. Enter the Chinese consortium, which offered to a) build a new railway line 560km into the jungle, b) construct a deep-water harbour from which to export the iron ore, c) develop a hydro-electric dam to supply electricity to the project, d) finance the initiative, e) bring in Chinese labourers to build it and f) offer to buy the entire mined output. Not surprisingly, CVRD got blown out of the water in the bidding process -- few companies on Earth would be able to compete with such a comprehensive undertaking." mg.co.za

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