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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (27051)	10/8/2008 3:23:23 PM
From: LoneClone	Read Replies (3) \| Respond to of 193918

Palladon Ventures reopens iron mine near Cedar City steelguru.com AP reported that Palladon Ventures Limited has reopened the 6,600 acre Iron Bull Milling & Mining with plans to sell more than USD 1 billion worth of high grade ore to China in the next 5 years. The mine had been closed since 1996. It reopened on September 11th 2008 with a 25 person staff and plans to eventually to employ 120 workers. Mr Donald Foot president & CEO at Palladon Ventures said that his company wants to mine 2 million tonnes annually before expanding to 4 million tonnes. It wants to build a concentrator to pulverize the ore to powder. Once waste mined with ore is removed, a magnet is dragged through the powder to collect iron. He added that "There are no chemicals involved in the process that yields a high grade concentrate." Mr Foot said that rail operations should begin in two months and will fill a train every other day. He added that the private company China Kingdom will process the ore at a Beijing area mill.