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

To: LoneClone who wrote (27052)	10/8/2008 3:24:09 PM
From: LoneClone	Read Replies (1) \| Respond to of 193918

China imports 37.4 million tonnes of iron ore in August steelguru.com According to statistics released by the General Administration of Customs, China imported 37.4 million tonnes of iron ore in August, dropping 5.62% from the previous month, while the country's total imports over the first eight months grew by 22.4% YoY to 306.97 million tons Australia remained China's largest single supplier of iron ore in August and contributed 18.66 million tonnes accounting for nearly half of all iron ore imports. Brazil was the second-largest source of iron ore, exporting 8.62 million tonnes to China in August dipping 0.16%MoM. Brazilian iron ore giant Vale suspended shipments to China in mid-August after Chinese steel mills refused to accede to Vale's request of a hike in long term prices for the rest of the 2008/2009 contract year. The table below lists China's iron ore concentrate imports for August and the first eight months of 2008. China's iron ore concentrate imports, August and the first eight months of 2008 ?Country Aug'08 MoM Jan-Aug'08 YoY Australia 18,662.11 3.0% 121,633.74 28.0% Brazil 8,618.56 -0.1% 67,900.12 8.5% India 5,220.19 -15.8% 68,174.96 21.3% South Africa 653.28 -18.8% 9,813.96 16.7% Indonesia 444.28 -24.6% 5,224.84 92.2% Iran 434.25 -12.2% 4,075.36 23.5% Ukraine 425.68 -54.6% 5,441.82 421.1% Canada 375.83 -37.3% 2,690.10 -24.3% Russia 319.61 13.0% 2,331.78 -27.4% Peru 317.55 -41.0% 3,424.72 -1.7% Chile 293.07 -22.5% 2,511.09 40.4% Kazakhstan 291.2 5.3% 2,049.04 7.4% Thailand 222.41 -5.4% 1,507.79 104.6% Mauritania 213.69 0.6% 1,641.19 61.1% Mexico 209.27 32.5% 1,193.94 167.0% DPRK 139.46 -43.2% 1,403.97 76.9% Venezuela 129.32 -47.0% 2,102.40 11.2% Mongolia 124.46 10.6% 614.77 648.5% Vietnam 65.99 -60.7% 986.09 64.5% Bahrain 60.25 -1.0% 310.36 N/A Total 37,403.22 -5.6% 306,965.69 22.4% (In ‘000 tonnes)

To: LoneClone who wrote (27052)	10/30/2008 11:02:08 AM
From: zx	Respond to of 193918

Long- PALLADON VENTURES LT OTC: PLLVF.PK Last Trade: 0.2170 Trade Time: 10:27AM ET Change: Up 0.0063 (2.99%) Prev Close: 0.211 Open: 0.227

To: LoneClone who wrote (27052)	10/30/2008 1:25:41 PM
From: zx	Respond to of 193918

ironbullmining.com UPDATE: MONDAY, OCTOBER 27, 2008 GRAND BLAST On Thursday October 23, a “Grand Blast” was held at the mine to signify the grand re-opening of the historic Comstock/Mountain Lion Mine by Palladon Iron Corporation. At 11am there was a private ceremony for approximately 100 invited guests and dignitaries with speeches from the Mayor of Cedar City, County Commissioners, and Palladon Management. From 1 pm to 3 pm there was an open house that was attended by over 400 citizens of the Cedar City and Iron County area. It was a great day for everyone in attendance. Figure 1: Dignitaries Getting Ready for the Blast The St. George and Southern Utah University television stations both did stories on the opening and are shown below. These both provided a great overview of the festivities and the excitement felt by the crowd. The second video can be viewed here MINE SITE Even though the festivities were a big part of the week, it did not stop the mine from continuing to operate. Figure 2 shows material from the stockpile being loaded into the Tipple and Figure 3 shows a completely “full” rail car. As you can see, the density of the material makes it so that the car is nowhere near physically full capacity when it is at it’s weight limit. Figure 2: Loading of the Tipple Storage Bin Figure 3: Fully Loaded Rail Car THE PORT We continue to move forward with the port in getting all of the facilities ready to receive ore. As soon as we know an exact date, we will let everyone know when the trains will leave the mine and when the first ship will launch. It has been decided by the shipping group and the end user that they will start with either a Panamax or Supramax vessel that will hold 60,000 and 100,000 tons, respectively. UPDATE: MONDAY, OCTOBER 20, 2008 SITE VISITORS We were pleased to have visitors all of last week from China Kingdom International, Shandong FarEast Marine group (the shipping people), and a prominent Chinese Steel Company visit the site and also the port. They were all very excited to see the progress made at the mine (Figures 1&2). Despite the rumors in the iron ore industry of reduced iron ore demand, we have received every assurance from our Chinese buyers that they anxiously await the first shipment of iron ore. Figure 1: Standing in the Bucket of the New Loader Figure 2: Discussing the Ore Reserves at the 6350' Level THE ENGINES HAVE ARRIVED After a long wait, the two engines that our shortline operator will use are now at the site (Figure 3). The engines will be used to move material along the 14.4 mile track from the mouth of the mine to Iron Springs. Figure 3: Engines Arrive at Iron Springs The engine will now start to move the Union Pacific bridge cars from Iron Springs to the tipple where they will be loaded. This is being done for two reasons. The first is to calibrate the tipple for accurate loading and the second is to have cars loaded and ready for shipment once the barn at the Port of Long Beach is ready to receive shipments. Figure 4: Engine Pulls Under the Tipple Shipping will commence once the modifications to the barn at the Port of Long Beach are completed to handle the higher density iron ore. The plows have to be modified, as well as some of the structural components in the barn.