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OZL

Admin — Mon, 22 Sep 2008 06:18:20 GMT

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{{:OZL_News}}

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==External Links==

New mining taxes in Zambia

Data — Thu, 10 Jul 2008 07:05:42 GMT

Summary: New page: '''Overview''' Zambia is a stable and vibrant country straddling central Africa and forming a natural hub for the sub-continents diverse activities, having common borders with Angola, Dem...

'''Overview'''

Zambia is a stable and vibrant country straddling central Africa and forming a natural hub for the sub-continents diverse activities, having common borders with Angola, Democratic Republic of Congo, Tanzania, Malawi, Mozambique, Zimbabwe, Botswana and Namibia.

Geologically the country is favored with an abundance of mineral resources. In the late Proterozoic Lufilian terrain of north-western Zambia, boasts one of the worlds most important and complex metallotects hosting enormous reserves of copper-cobalt ore, together with gold, uranium, nickel, lead-zinc, iron and manganese.

The Government of Zambia has taken significant steps to stabilize the economy and has created a positive investment climate which is particularly favorable to the exploration of these and the numerous other mineral and energy resources identified and still to be discovered throughout the country
<ref>http://www.zambiamining.co.zm/introductiontozambia.htm</ref>

'''Zambia’s new mining tax regime'''

From April 2008, copper mining companies in Zambia will start paying more of their windfall profits in tax revenue to the Zambian government. This change will greatly increase the amount of money available for public spending on poverty reduction. The government will be able to improve education and health services, and make investments that will create more jobs and livelihoods for Zambian citizens.

This is how new taxes will bring more than USD400m a year into government coffers:

* The value of copper sales, which determines how royalties and taxes are calculated by Zambian companies, will no longer be determined by the price companies claim (often without providing evidence of these prices) they are being paid by their buyers overseas. Instead, it will be calculated based on the prices of copper on international commodity exchange markets. This will introduce much more transparency into companies’ profit calculations.

* The sales tax (or royalty) on the value of the copper ore produced will increase from 0.6 per cent to 3 per cent

* In our understanding, an additional royalty (called a windfall tax in the new tax regime) will be charged on the sales value of copper for every 50 cents increase in the price of copper per pound on international copper exchanges. This could push the ‘sales tax’ or royalty on copper up to over 5 per cent. A number of countries already charge royalties at this rate.

*Companies will pay corporate profit taxes of 30 per cent (up from 25 per cent) on the profits they declare after deducting costs and royalties (see above)

* In addition to the 30 per cent corporate profit tax, companies will also pay a ‘variable’ profit tax. This means that companies will in addition to the 30 per cent corporate tax pay an extra 15% tax on all profits they earn that exceed 8 per cent of their overall income. This is only likely to happen as a result of the boom in commodity prices. This tax transfers a fair share of the windfall value of copper to the Zambian government. In the UK, the Labour government implemented a similar tax on North Sea oil companies in the 1990s.

* Overseas consultants and companies providing services to Zambian copper companies will now be paying a 15 per cent tax on their income in Zambia, up from 0 per cent. The tax paid by such companies and individuals would now be split fairly between the country where they are resident and Zambia.

* Mining companies will no longer be able to deduct their losses from financial deals (for example hedging of future sales) from taxable income from mining.

*Under the current tax regime, mining companies are able to deduct 100 per cent of expenditure on equipment such as machinery from taxable income every year. From April they will only be able to deduct 25 per cent of such expenditure, and only once the project starts operating. Such a measure will reduce the incentive for mining companies to keep on buying equipment to reduce their tax bill in Zambia and it will bring forward their tax payments.

* In addition, mining companies can no longer deduct from the taxable income on a profitable mining site their capital expenditure on another mining site. While this will increase tax paid we are worried that this may discourage local reinvestment of profits. This is the only tax measure we recommend the Zambian government may want to revisit.

There is a very real possibility that some or all Zambian copper mining companies will take legal action against the government. According to the development agreement signed with Konkola Copper Mines, the Zambian government has to provide KCM with ‘full and fair’ compensation if it changes the tax provisions of the agreement in the 20-year period for which the contract is valid.

Should the Zambian government refuse to pay compensation for the additional taxes companies will have to pay under the new tax regime, the mining development agreement says that they can request an international tribunal to decide the amount to be awarded to them.

The tax analysis has been provided by Richard Murphy, a chartered accountant at the UK-based Tax Research LLP, and senior adviser to the International Tax Justice Network. <ref> http://www.sciaf.org.uk/content/download/4306/28438/file/Analysis%20of%20the%20Zambian%20government%5C%27s%20new%20tax%20regime.doc</ref>

Gasoline

Data — Wed, 09 Jul 2008 08:59:52 GMT

Summary: /* Outlook for Gasoline */

==Overview==

Gasoline is the most widely used liquid fuel. Gasoline (known as petrol in Britain, Canada, Austrailia, New Zealand, and many English-speaking countries) is made of hydrocarbon molecules forming aliphatic compounds, or chains of carbons with hydrogen atoms attached. However, many aromatic compounds (carbon chains forming rings) such as benzene are found naturally in gasoline and cause the health risks associated with prolonged exposure to the fuel.

Production of gasoline is achieved by distillation of crude oil. The desirable liquid is separated from the crude oil in refineries. Crude Oil is extracted from the ground in several processes, the most commonly seen may be beam pumps. To create gasoline, petroleum must first be removed from crude oil.

Gasoline itself is actually not burned, but the fumes it creates ignite, causing the remaining liquid to evaporate. Oil is extremely volatile and easily combusts, making any leakage extremely dangerous. Oil for sale in most countries carries an octane rating. Octane is a measure of the resistance of gasoline to combusting prematurely, known as knocking. The higher the octane rating, the harder it is to burn the fuel, which allows for a higher compression ratio. Engines with a higher compression ratio produce more power (such as in race car engines). However, such engines actually require a higher octance fuel.<ref>http://explanation-guide.info/meaning/Liquid-fuels.html</ref>

==Application of Gasoline==

A liquid fuel composed of a mixture of small, light hydrocarbons and produced by refining crude oil. Gasoline is mainly used by automobiles, trucks, and other motor vehicles. <ref>http://www.uwsp.edu/cnr/wcee/keep/mod1/Unitall/definitions.htm</ref>

== Outlook for Gasoline==

'''Major Characteristics of 2008 U.S. Summer
(April – September) Outlook for Gasoline'''

* Much higher crude oil prices

* Decline in gasoline consumption

* Surge in fuel ethanol production

* High gasoline inventory levels

* Lower imports and production from crude oil

* Weaker refining margins for gasoline

'''Regular Gasoline Retail Prices (Cents per Gallon)'''
* Retail Average Regular Gasoline Prices

{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/19/08'''
| align="center" style="background:#f0f0f0;"|'''05/26/08'''
| align="center" style="background:#f0f0f0;"|'''06/02/08'''
| align="center" style="background:#f0f0f0;"|'''06/09/08'''
| align="center" style="background:#f0f0f0;"|'''06/16/08'''
| align="center" style="background:#f0f0f0;"|'''06/23/08'''
| align="center" style="background:#f0f0f0;"|'''06/30/08'''
| align="center" style="background:#f0f0f0;"|'''07/02/07'''
|-
| U.S.||379.1||393.7||397.6||403.9||408.2||407.9||409.5||295.9
|-
| East Coast (PADD I)||379.5||393.7||397.0||401.9||405.2||404.7||405.7||292.5
|-
| Midwest (PADD II)||379.9||395.1||395.2||398.2||399.7||399.6||403.1||295.4
|-
| Gulf Coast (PADD III)||368.9||382.9||384.6||390.9||393.7||391.9||392.8||285.1
|-
| Rocky Mountain (PADD IV)||368.6||385.1||389.0||394.1||399.4||400.2||403.4||309.7
|-
| West Coast (PADD V)||388.3||402.9||416.6||432.5||445.2||446.0||445.6||310.6
|-
|
|-
|
|}
* Retail Conventional Regular Gasoline Prices
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/19/08'''
| align="center" style="background:#f0f0f0;"|'''05/26/08'''
| align="center" style="background:#f0f0f0;"|'''06/02/08'''
| align="center" style="background:#f0f0f0;"|'''06/09/08'''
| align="center" style="background:#f0f0f0;"|'''06/16/08'''
| align="center" style="background:#f0f0f0;"|'''06/23/08'''
| align="center" style="background:#f0f0f0;"|'''06/30/08'''
| align="center" style="background:#f0f0f0;"|'''07/02/07'''
|-
| U.S.||376.2||391.3||393.2||397.9||400.7||400.2||402.7||293.3
|-
| East Coast (PADD I)||378.4||393.5||395.5||399.9||402.5||401.8||403.4||290.6
|-
| Midwest (PADD II)||377.9||393.3||393.2||396.6||398.2||397.5||401.3||294.1
|-
| Gulf Coast (PADD III)||369.1||383.3||385.0||391.1||393.7||392.1||393.5||286.8
|-
| Rocky Mountain (PADD IV)||368.6||385.1||389.0||394.1||399.4||400.2||403.4||309.7
|-
| West Coast (PADD V)||380.0||394.0||406.0||414.7||423.5||427.1||428.2||305.1
|-
|
|}
* Retail Reformulated Regular Gasoline Prices
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/19/08'''
| align="center" style="background:#f0f0f0;"|'''05/26/08'''
| align="center" style="background:#f0f0f0;"|'''06/02/08'''
| align="center" style="background:#f0f0f0;"|'''06/09/08'''
| align="center" style="background:#f0f0f0;"|'''06/16/08'''
| align="center" style="background:#f0f0f0;"|'''06/23/08'''
| align="center" style="background:#f0f0f0;"|'''06/30/08'''
| align="center" style="background:#f0f0f0;"|'''07/02/07'''
|-
| U.S.||385.1||398.9||406.6||416.5||424.0||424.1||423.8||301.2
|-
| East Coast (PADD I)||381.2||394.1||399.4||405.2||409.5||409.4||409.5||295.7
|-
| Midwest (PADD II)||392.6||406.4||407.9||408.5||409.4||413.6||414.9||304.1
|-
| Gulf Coast (PADD III)||368.4||381.5||383.6||390.1||393.8||391.4||390.5||279.4
|-
| Rocky Mountain (PADD IV)||NA||NA||NA||NA||NA||NA||NA||NA
|-
| West Coast (PADD V)||391.9||406.8||421.3||440.2||454.6||454.3||453.2||313.0
|-
|
|}
'''Total Gasoline Stocks'''
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/16/08'''
| align="center" style="background:#f0f0f0;"|'''05/23/08'''
| align="center" style="background:#f0f0f0;"|'''05/30/08'''
| align="center" style="background:#f0f0f0;"|'''06/06/08'''
| align="center" style="background:#f0f0f0;"|'''06/13/08'''
| align="center" style="background:#f0f0f0;"|'''06/20/08'''
| align="center" style="background:#f0f0f0;"|'''06/27/08'''
| align="center" style="background:#f0f0f0;"|'''06/29/07'''
|-
| U.S.||209.4||206.2||209.1||210.1||208.9||208.8||210.9||204.4
|-
| East Coast (PADD I)||58.1||55.3||55.3||57.1||56.6||58.3||59.0||52.9
|-
| Midwest (PADD II)||48.2||48.6||49.3||49.8||51.4||49.9||50.6||49.1
|-
| Gulf Coast (PADD III)||69.4||69.2||70.9||70.2||67.9||66.7||67.3||65.8
|-
| Rocky Mountain (PADD IV)||5.5||5.5||5.9||5.8||6.0||6.3||5.8||6.1
|-
| West Coast (PADD V)||28.2||27.5||27.6||27.3||27.0||27.6||28.2||30.6
|-
|
|}
* Conventional Gasoline Stocks
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/16/08'''
| align="center" style="background:#f0f0f0;"|'''05/23/08'''
| align="center" style="background:#f0f0f0;"|'''05/30/08'''
| align="center" style="background:#f0f0f0;"|'''06/06/08'''
| align="center" style="background:#f0f0f0;"|'''06/13/08'''
| align="center" style="background:#f0f0f0;"|'''06/20/08'''
| align="center" style="background:#f0f0f0;"|'''06/27/08'''
| align="center" style="background:#f0f0f0;"|'''06/29/07'''
|-
| U.S.||101.8||101.8||103.5||103.1||104.0||104.0||104.5||112.0
|-
| East Coast (PADD I)||26.6||25.9||26.0||25.5||25.8||26.6||27.2||28.9
|-
| Midwest (PADD II)||30.2||31.0||31.8||32.2||33.8||32.9||33.4||33.6
|-
| Gulf Coast (PADD III)||36.0||35.5||35.7||36.0||35.0||34.5||34.5||36.2
|-
| Rocky Mountain (PADD IV)||3.9||3.9||4.3||4.1||4.3||4.4||4.0||4.3
|-
| West Coast (PADD V)||5.1||5.6||5.7||5.3||5.2||5.5||5.3||9.0
|-
|
|}
* Reformulated Gasoline Stocks
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/16/08'''
| align="center" style="background:#f0f0f0;"|'''05/23/08'''
| align="center" style="background:#f0f0f0;"|'''05/30/08'''
| align="center" style="background:#f0f0f0;"|'''06/06/08'''
| align="center" style="background:#f0f0f0;"|'''06/13/08'''
| align="center" style="background:#f0f0f0;"|'''06/20/08'''
| align="center" style="background:#f0f0f0;"|'''06/27/08'''
| align="center" style="background:#f0f0f0;"|'''06/29/07'''
|-
| U.S.||2.0||2.0||2.1||2.5||2.2||2.3||2.2||2.1
|-
| East Coast (PADD I)||0.2||0.3||0.2||0.2||0.2||0.1||0.1||0.1
|-
| Midwest (PADD II)||0.0||0.0||0.0||0.0||0.0||0.0||0.0||0.0
|-
| Gulf Coast (PADD III)||0.6||0.7||0.8||0.9||0.8||0.6||0.7||0.6
|-
| Rocky Mountain (PADD IV)||0.0||0.0||0.0||0.0||0.0||0.0||0.0||0.0
|-
| West Coast (PADD V)||1.1||1.1||1.2||1.4||1.2||1.5||1.4||1.4
|-
|
|}
==Days of Supply (number of days)==
{| {{table}}
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''05/16/08'''
| align="center" style="background:#f0f0f0;"|'''05/23/08'''
| align="center" style="background:#f0f0f0;"|'''05/30/08'''
| align="center" style="background:#f0f0f0;"|'''06/06/08'''
| align="center" style="background:#f0f0f0;"|'''06/13/08'''
| align="center" style="background:#f0f0f0;"|'''06/20/08'''
| align="center" style="background:#f0f0f0;"|'''06/27/08'''
| align="center" style="background:#f0f0f0;"|'''06/29/07'''
|-
| U.S.||22.5||22.1||22.5||22.5||22.5||22.5||22.6||21.4
|-
|
|}
Days of Supply calculated as: U.S. Total Gasoline Stocks / Four-Week Average U.S. Finished Motor Gasoline Demand

EU Emission

Data — Tue, 08 Jul 2008 16:53:08 GMT

Summary: New page: ==Overview== '''CARBON CREDITS – A MARKET OF THE 21st CENTURY''' With growing concerns among nations to curb pollution levels while maintaining the growth in their economic activities...

==Overview==

'''CARBON CREDITS – A MARKET OF THE 21st CENTURY'''

With growing concerns among nations to curb pollution levels while maintaining the growth in their economic activities, the emission trading (ET) industry has come to life. And, with the increasing ratification of Kyoto Protocol (KP) by countries and rising social accountability of polluting industries in the developed nations, the carbon emissions trading is likely to emerge as a multibillion-dollar market in global emissions trading. The recent surge in carbon credits trading activities in Europe is an indication of how the emissions trading industry is going to pan out in the years to come.

'''What is a carbon credit?'''

Simply put, one carbon credit is equivalent to one tonne of carbon dioxide or its equivalent greenhouse gas (GHG). Carbon credits are “Entitlement Certificates” issued by the United Nations Framework Convention on Climate Change (UNFCCC) to the implementers of the approved Clean Development Mechanism (CDM) projects. The potential buyers of carbon credits shall be corporates in various Annexure I countries that need to meet the compliance prevailing in their countries as per the Kyoto Protocol or those investors who would like buy the credits and with the expectation of selling them at a higher price during the KP phase (2008-12). The extension of KP shall be ratified by the current signatories of KP in their future meetings essentially to curb GHG emissions into the environment.<ref> http://www.mcxindia.com/products_CarbonCredit.htm
</ref>

==Supply/Demand==

Sources of demand & supply

Emerging carbon credit markets offer enormous opportunities for the upcoming manufacturing/public utility projects to employ a range of energy saving devices or any other mechanisms or technology to reduce GHG emissions and earn carbon credits to be sold at a price. The carbon credits can be either generated by project participants who acquire carbon credits through implementation of CDM in Non Annexure I countries or through Joint Implementation (JI) in Annexure I countries or supplied into the market by those who got surplus allowances with them. The buyers of carbon credits are principally from Annexure I countries. They are:

* Especially European nations, as currently European Union Emission Trading Scheme (EU ETS) is the most active market;
* Other markets include Japan, Canada, New Zealand, etc.
The major sources of supply are Non-Annexure I countries such as India, China, and Brazil.

==Trading In Carbon Credits==

Emissions trading (ET) is a mechanism that enables countries with legally binding emissions targets to buy and sell emissions allowances among themselves. Currently, futures contracts in carbon credits are actively traded in the European exchanges. In fact, many companies actively participate in the futures market to manage the price risks associated with trading in carbon credits and other related risks such as project risk, policy risk, etc. Keeping in view the various risks associated with carbon credits, trading in futures contracts in carbon allowances has now become a reality in Europe with burgeoning volumes.
Currently, project participants, public utilities, manufacturing entities, brokers, banks, and others actively participate in futures trading in environment-related instruments. The European Climate Exchange (ECX), a subsidiary of Chicago Climate Exchange (CCX), remains the leading exchange trading in European environmental instruments that are listed on the Intercontinental Exchange (ICE), previously known as International Petroleum Exchange (IPE).

==Price influencing factors==

In Non-Annexure B countries (the developing countries) across the world, CER prices are influenced by various factors including EUA prices, crude oil prices, electricity, coal, natural gas, the level of economic activities across Annexure I countries, among others

===Major price influencing factors:===

* Supply-demand mismatch
* Policy issues
* Crude oil prices
* Coal prices
* CO2 emissions
* Weather/Fuel prices
* European Union Allowances (EUAs) prices
* Foreign exchange fluctuations
* Global economic growth

==Risks associated with carbon credits==

The coming into being and operation of the EU-ETS, the ECX futures exchange platform, revealed that there are market- and policy-related risks for CER producers, including the supply-side risks starting from the DNA approval risk to the CER issuance risk in a complete CDM approval cycle. Apart from these risks there are a host of other risks from both the supply and demand sides that the real market players confront with.

Most CDM projects by their very nature take a long time to generate the CERs and hence, face the aforesaid risks in large proportion, which if not hedged would lead to reduced realization. Under such a situation, the realization of CER generators at times may not even cover the investment put in to generate the CERs and thus, has the potential of even making a CDM project unviable in the long term. Given the long gestation period of CDM projects and the risks involved, it is rather inevitable that they pre-sell their potential credits in the futures market (preferably a domestic futures market, to avoid forex risk attached to participation in a foreign exchange) and thereby, cover their probable downside in the physical market. <ref> http://www.mcxindia.com/products_CarbonCredit.htm</ref>
</ref>

Heating Oil

Data — Tue, 08 Jul 2008 16:44:37 GMT

Summary: New page: ==Overview== Heating oil is a petroleum product used by many Americans to heat their homes. Historically,heating oil prices have fluctuated from year to year and month to month, generally...

==Overview==
Heating oil is a petroleum product used by many Americans to heat their homes. Historically,heating oil prices have fluctuated from year to year and month to month, generally being higher during the winter months when demand is higher. <ref> http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/heating_brochure/heatbro.htm
</ref>

Heating Oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. In its early years, the heating oil futures contract attracted mainly heating oil wholesalers and large consumers. It soon became apparent that the contract was also being used to hedge diesel fuel, which is chemically similar to heating oil, and jet fuel, which trades in the cash market at a usually stable premium to NYMEX Division heating oil futures.

Today, a wide variety of businesses, including oil refiners, wholesale marketers, heating oil retailers, trucking companies, airlines, and marine transport operators, as well as other major consumers of fuel oil, have embraced this contract as a risk management vehicle and pricing mechanism. The recent imposition of strict federal sulfur standards for diesel fuel have the potential to increase price volatility in some markets.Seasonal aspecs of supply and demand are already factored into the futures prices and these prices do not move in tandem with the respective cash market. Additionally, the option premiums do not move in tandem with the underlying futures contracts. Seasonal and economic factors influence the relative prices of heating oil, gasoline, natural gas, propane, and crude oil.<ref>http://www.usigcorp.com/heating-oil-overview.html</ref>

==Heating Oil Prices==

Trading Unit- 42,000 U.S. gallons (1,000 barrels).

Price Quotation- U.S. dollars and cents per gallon.

Trading Months is Trading is conducted in 18 consecutive months commencing with the next calendar month (for example, on January 6, 2004, trading occurs in all months from February 2004 through July 2005).

Minimum Price Fluctuation is $0.0001 (0.01¢) per gallon ($4.20 per contract).
Maximum Daily Price Fluctuation is $0.25 per gallon ($10,500 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $0.25 per gallon in either direction. If another halt were triggered, the market would continue to be expanded by $0.25 per gallon in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.Trading Symbol is HO.<ref>http://www.usigcorp.com/heating-oil-contracts.html</ref>

==Supply/Demand==

Heating oil prices will almost certainly be higher this year than last. The EIA in its recent winter outlook projected that heating oil costs for U.S. northeast consumers will average 22 percent higher than last year. Based on a $80/barrel forecast, residential heating oil prices in Canada would average about $0.95/litre - about 15 cents more per litre than in 2006/07. There are risks to this outlook, however, as follows:
'''Crude oil prices:''' Heating oil prices will closely track movements in the oil market. Crude oil is expected to average about US$80 per barrel this winter. If prices average more than $80 per barrel, this would tend to put upward pressure on heating oil prices. Lower crude oil prices would tend to have the opposite effect.

'''U.S. inventories:''' As discussed, heating oil inventories in the U.S. are currently around the five-year average. While these levels are considered to be adequate to meet demand this winter, stocks are considerably lower than last year. When inventories build, prices tend to move lower, when inventories draw down, prices tend to rise. Of course, any refinery disruptions in the U.S. or in Canada would constrain heating oil supply and put upward pressure on prices.

'''Demand:''' Demand for heating oil is highest during the winter - as a result, prices are typically higher. Heating oil demand is directly linked to weather. A warmer-than-usual winter would reduce demand and could move prices lower. On the other hand, an unusually cold winter, or an early start to winter, would increase demand, reduce inventories, and could force prices higher. Many forecasters are predicting a warmer-than-average winter.

'''Overall:''' Heating oil prices in Canada are expected to be higher this winter than last - averaging in the area of $.095 per litre.

==Reason of heating oil prices fluctuation==

1.Heating oil prices paid by consumers can vary over time and by where a consumer lives. Prices can change for a variety of reasons. These include:

2.Seasonality in the demand for heating oil - When crude oil prices are stable, home heating oil prices tend to gradually rise in the winter months when demand is highest. However, at times, prices can surge quickly to very high levels, as occurred in January/February 2000 (see box on “What Causes a Surge in Heating Oil Prices”). A homeowner in the Northeast might use 650-1000 gallons of heating oil during a typical winter, while consuming very little during the rest of the year.

3.Changes in the cost of crude oil - Since crude oil is a major price component of heating oil, changes in the price of crude oil will generally affect the price of heating oil. (See Figure 2.) Crude oil prices are determined by worldwide supply and demand. Demand can vary worldwide with the economy and with weather. Supply can be influenced by the Organization of Petroleum Exporting Countries (OPEC) and other factors.

4.Competition in local markets – Competitive differences can be substantial between a locality with only one or a few suppliers or dealers versus an area with a large number of competitors. Consumers in remote or rural locations may face higher prices because there are fewer competitors.

5.Regional operating costs - Prices also are impacted by higher costs of transporting the product to remote locations. In addition, the cost of doing business by dealers can vary substantially de pending on the area of the country in which the dealer is located. Costs of doing business include wages and salaries, benefits, equipment, lease/rent, insurance, overhead, and state and local fees.<ref>http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/heating_brochure/heatbro.htm</ref>

==Global Petroleum==

The combination of rising consumption, further downward revisions in the supply outlook for countries outside of the Organization of the Petroleum Exporting Countries (OPEC), and low surplus production capacity reinforce the perception that supply is having a difficult time keeping up with demand growth, accounting for much of the upward trend in oil prices. Consumption in countries outside of the Organization for Economic Cooperation and Development (OECD) continues to grow rapidly, offsetting weaker consumption in OECD countries, especially the United States. Declining production in a number of non-OPEC nations, including Mexico, United Kingdom, and Norway, is largely offsetting increases in other countries. Slow growth in non-OPEC supply is coinciding with disruptions in supplies from some OPEC countries, such as Nigeria. Ongoing geopolitical concerns in several producing countries, including Venezuela and Iran, have contributed to oil price volatility.
The market remains concerned that the cushion of surplus production capacity of less than 2 million bbl/d (almost all located in Saudi Arabia) and/or stocks is insufficient to protect against possible changes in supply or consumption, especially as we enter the summer hurricane season. The absence of a Saudi commitment to add capacity beyond its current goal of 12.5 million bbl/d adds to the uncertainty about the adequacy of future supply capacity growth.

==Consumption==

Preliminary data indicate global oil consumption rose by about 630,000 bbl/d during the first quarter of 2008 compared with year-earlier levels, much lower than the 1.0-million-bbl/d growth expected in the previous Outlook. Most of this downward revision occurred in the OECD countries. With this revision, OECD consumption during the first quarter is estimated to have fallen by 460,000 bbl/d from year-earlier levels, with the declines concentrated in the United States. Consumption in the other OECD regions was flat during the first quarter, with European consumption increasing relative to year-earlier levels only because warmer-than-normal weather led to unseasonably low consumption in first quarter of 2007. OECD consumption is projected to decrease by 240,000 bbl/d in 2008 and increase slightly in 2009.

In contrast, consumption in the non-OECD countries is projected to grow by 1.2 million bbl/d in 2008, led by China, India, and the Middle East (World Oil Consumption). Continued economic growth, fuel subsidies, and increased oil-fired power generation are supporting increases in non-OECD oil consumption. Efforts to ease subsidies in some non-OECD Asian nations such as India and Indonesia could eventually lead to higher prices in those countries and lower overall non-OECD consumption growth. However, China represents the single largest source of world oil consumption growth in our forecast, and that country has not yet begun to remove price subsidies.

==Non-OPEC Supply==

Non-OPEC supply growth remains weak despite 6 years of rising prices. Non-OPEC production is expected to rise by 310,000 bbl/d in 2008, down sharply from last month's Outlook. Actual production data from Russia, Norway, and Mexico, along with lowered expectations for Brazil, are the principal reasons for the downward revision. Non-OPEC supply during the first quarter of the year was 240,000 bbl/d lower than the first quarter of 2007, and the second quarter of 2008 is expected to be 200,000 bbl/d lower than last year. As a result, virtually all of the growth in non-OPEC supply is expected in the second half of the year, with an expected year-over-year increase of 820,000 bbl/d, driven by growth in Brazil and Azerbaijan (Non-OPEC Oil Production Growth). EIA has also revised its estimates of non-OPEC supply growth downwards in 2009 to 1.1 million bbl/d, slightly below expected consumption growth for the year. Given recent history, EIA believes that the pace and timing of non-OPEC supply growth will continue to be subject to possible delays in key projects and accelerating production declines in some older fields. As a result, net production gains could be less than the current forecast, leading to a higher price path.

==OPEC Supply==

OPEC crude oil production is projected to average 36.9 million bbl/d in the second quarter, 140,000 bbl/d higher than first quarter levels. Over the quarter, lower production in Nigeria, due to security problems and a workers strike, was offset by higher Iraqi and Saudi production. Saudi Arabia reportedly increased output in mid-May by 300,000 bbl/d, with production expected to reach 9.4 million bbl/d in June. At these production levels, global surplus production capacity, virtually all of which is in Saudi Arabia, should be about 1.4 million bbl/d in June (OPEC Surplus Oil Production Capacity). OPEC crude oil production is expected to increase during the third quarter of 2008, although this is dependent upon how the security situation in Iraq and Nigeria evolves. Iraq plans to raise exports from the north by about 100,000 bbl/d in June if security conditions permit.

==Inventories==

OECD commercial inventories fell in the first quarter of 2008 by about 430,000 bbl/d, in line with the 5-year average decline during that part of the year. At the end of the first quarter, OECD commercial inventories stood at 2.54 billion barrels, 18 million barrels above the 5-year average and equal to 53 days of forward consumption. However, OECD stock additions during the second quarter are projected to be far below the average 5-year build, with OECD commercial inventories staying at or below their 5-year average for the remainder of the year (Days of Supply of OECD Commercial Stocks).

===U.S. Petroleum===

==Production.==

In 2008, total domestic crude oil output is projected to average 5.1 million bbl/d, the same as in 2006 and 2007 (U.S. Crude Oil Production). Production growth in the lower-48 and Federal Gulf of Mexico regions is expected to offset declines in Alaskan production. In 2009, total production is projected to average 5.3 million bbl/d, up 210,000 bbl/d from 2008. Federal Gulf of Mexico output is expected to rise 270,000 bbl/d due mostly to the Thunder Horse platform coming on-stream in late 2008 and the Tahiti platform beginning production in 2009, but declines are projected for Alaska and the lower-48 States. This projection includes an estimated expectation of hurricane-induced outage of about 11 million barrels for the offshore region in 2008 (see Hurricane Outlook). Fuel ethanol production is projected to increase from an annual average of 420,000 bbl/d in 2007, to 580,000 bbl/d in 2008 and 640,000 bbl/d in 2009.

==Consumption==

Total petroleum consumption of liquid fuels and other petroleum products averaged 20.7 million bbl/d in 2007, similar to 2006 (U.S. Petroleum Products Consumption Growth). Based on prospects for a weak economy and record high crude oil and product prices extending into next year, consumption is projected to shrink by 290,000 bbl/d in 2008, a sharper drop than the nearly 200,000 bbl/d projected in the previous Outlook. In 2009, total consumption is projected to rise by 140,000 bbl/d, somewhat less than the nearly 200,000 bbl/d increase projected in the previous Outlook.

Prices. WTI crude oil prices, which averaged $72 per barrel in 2007 (Crude Oil Prices), are projected to average $122 per barrel in 2008, up about $12 per barrel from the projection in last month’s Outlook; and $126 per barrel in 2009, up more than $20 per barrel from the previous Outlook.

EIA projects that regular-grade motor gasoline retail prices, which averaged $2.81 per gallon in 2007, will average $3.78 per gallon this year, up more than 25 cents from last month’s Outlook. Gasoline prices are expected to continue to rise from $3.98 per gallon on June 2 to a monthly average price peak of $4.15 per gallon in August. This forecast reflects a sizable narrowing of refiner gasoline margins from those of last year because of weakness in gasoline demand and growth in ethanol supply. In 2009, regular-grade gasoline retail prices are projected to average $3.92 per gallon, 48 cents higher than projected in the previous Outlook.

Diesel fuel retail prices in 2008 and 2009 are projected to average $4.32 per gallon, up from $2.88 per gallon last year. This reflects strength in diesel demand, particularly in emerging markets, that has significantly increased the margins between diesel prices and crude oil costs from those of last year. Diesel fuel prices are projected to remain near the June 2 price of $4.71 per gallon over the next few months as refiner margins begin to weaken slightly, offsetting the projected rise in crude oil costs.<ref>http://www.eia.doe.gov/steo</ref>

Eurofuel's members cover the complete home heating supply chain, from oil companies of various sizes, through to independent fuel traders and
distributors, heating equipment manufacturers and finally heating installers. The great majority of these members are Small and Medium Enterprises (SMEs),
key in boosting economic growth and employment throughout the EU.

==Some facts on heating oil==

1.The annual consumption of heating oil is about one-fifth of total EU energy consumption for domestic heating and hot water purposes

2.The European oil heating industry has an annual retail price turnover of around 50 billion Euros for oil, and some 2.5 billion Euros for equipment.

3. Heating oil ensures consumer choice, as the heating oil industry operates in an open and competitive market, governed by competitive suppliers.

4.Through its network independence, heating oil provides individual security stocks via each household's oil storage tank.

The annual consumption of heating oil is about one-fifth of total EU
energy consumption for domestic heating and hot water purposes

Lumber

Data — Mon, 30 Jun 2008 09:13:31 GMT

Summary:

==Overview ==

Lumber is wood that has been cut into boards or other shapes for the purpose of woodworking or construction. Lumber is supplied either rough or finished. Rough lumber is the raw material for furniture making and other items requiring additional cutting and shaping. It is available in many species, usually hardwoods. Finished lumber is supplied in standard sizes, mostly for the construction industry, and is primarily one of a few needle-bearing species such as pine, hemlock, fir or spruce.<ref>http://chinese-school.netfirms.com/abacus-commodities-futures-softs.html</ref>

==Types of Lumber==

1. Pressure treated wood is normally specified for the deck's framing systems. Wood commonly used in different aspects of a deck includes cedar, redwood or even mahogany. To ensure you have the proper wood type, length and size for different components be sure to consult your local building code for current specifications.

2.Pressure treated wood uses a chemical liquid that acts as a preservative that is forced into the wood through a pressurization process. This protects the wood from rotting and from deteriorating as a result of the harsh outdoor elements.

3.Cedar is great for deck floors or other deck accessories. It is great in that it naturally resists rotting and is known for its strength. Redwood is also used for spindles and flooring and is ideal in that it durable and has a beautiful rich color.

4.Joists, beams and posts which are important for framing require pressure treated wood. Deck flooring boards use pressure treated wood or can use composite materials or vinyl. Cedar, redwood, and mahogany are popular for deck floors. Woods range in price depending on strength, availability, and quality. Rim joists which are the outer joists normally need top grade pressure treated wood.

5.Railing posts should have pressure treated wood. Balusters or spindles use the same materials as railing posts but because they are not structural, they can also be made of cedar, redwood, composites or vinyl.<ref>http://www.homeplaninfo.com/decks/types-of-lumber.aspx</ref>

==Lumber Prices==

1. CME Random Length Lumber Futures

2. Trade Unit 10,000 bd. ft. of random lengths 2x4s (8' to 20')

3. Point Descriptions 1 point = $.10 per 1,000 bd. ft. = $11 per contract

4. Contract Listing Seven months of January, March, May, July, September, and November.

5. Strike Price Interval N/A

6. Product Code

7. Clearing=LB

8. Ticker=LB

9. Limits $10.00 per thousand board feet above or below the previous day's settlement price. Expanded limits. See Rule 1702.D

10. Minimum Fluctuation Regular 0.10=$11.00<ref>http://www.cme.com/trading/prd/ag/lumber_FCS.html</ref>
The National Association of Home Builders (NAHB) publishes the framing lumber prices from Random Lengths and the Chicago Mercantile Exchange (CME) Futures Price each week.<ref>www.nahb.org/generic.aspx?genericContentID=527</ref>
==Applications==
1.SaferWood lumber is well suited for the complete range of exterior above ground construction projects. Most anything you would create with untreated wood can be built with superior fire safety using SaferWood exterior fire retardant treated wood.
Typical applications include exterior decks, balconies, stairways, covered walkways,

2.open air roof systems, or stables. Fire retardant lumber also brings added safety to construction staging and scaffolding.

3.All common sizes of most construction species of lumber can be treated. All products are pressure impregnated with our exclusive treatment process, enhancing the fire safety of any structure. Douglas fir, western red cedar, and yellow pine are currently available and additional species will be added over time. In the U.S.,

4.SaferWood brand lumber meets or exceeds model building codes and is approved for military procurement.<ref> http://www.saferwood.com/specs/applications/lumber.html
</ref>

==Supply/Demand ==

1.In the midst of one of the worst declines in housing construction in modern times, Western mills will face difficult lumber markets in 2008 before seeing signs of recovery in 2009, according to a new forecast issued by Western Wood Products Association.

2.Housing starts should to reach just 968,000 in 2008, less than half the total from three years ago and the worst year for new construction since World War II. Single-family starts will be off 60 percent from 2005 totals.

3.With more than 40 percent of lumber used annually in new home construction, lumber demand is expected to decline to 45.3 billion board feet this year. Demand for lumber has fallen by some 19 billion board feet compared to 2005 totals - a volume equivalent to what was produced by sawmills in the West that entire year.

4.Lumber production at Western mills is forecast to slip by 11.5 percent to 14.1 billion board feet this year. That volume would be the lowest since 1982, when just 13.7 billion board feet was produced in the West.

5.Mills in the South will produce 15.4 billion board feet, down 10.5 percent from estimated 2007 totals.

6.Imports, which were off nearly 20 percent last year, should decline another 17 percent to 15.3 billion board feet. Canadian lumber shipments - which represent more than 95 percent of U.S. imports - are expected to decline by 6 billion board feet from their peak in 2005.

7.Markets should begin to recover in 2009, with housing starts forecast at 1.17 million and lumber demand rising to 47.7 billion board feet. Production at Western mills should rise next year to 15 billion board feet, up 6 percent.

8."The slow recovery for housing and lumber markets should continue for the balance of this decade. "After this year, the worst should be behind us."

9.Lumber manufacturers in the 12 Western states and Alaska. Based in Portland, WWPA compiles lumber industry statistics and provides business information services to mills. The Association also delivers quality standards, technical and product support services to the industry.<ref>http://findarticles.com/p/articles/mi_m0EIN/is_2008_March_26/ai_n24948580</ref>

Uranium Stocks

Admin — Thu, 19 Jun 2008 11:45:31 GMT

Summary: Replacing page with 'Selected uranium stocks June 19 2008 [[Image:UraniumStocks.xls]]'

Selected uranium stocks June 19 2008

[[Image:UraniumStocks.xls]]

The Resolution Project

Data — Tue, 10 Jun 2008 14:21:24 GMT

Summary: /* Production per annum */

==Brief overview==
The Resolution Project is located in the historic Pioneer Mining District three miles east of Superior, Arizona. Exploration from 2001 to 2003 indicates that a large, world-class copper resource exists more than 7,000 feet below surface. We expect this resource to yield up to 600,000 tonnes of copper a year, for at least 40 years. Extracting this natural resource from deep within our earth in a manner that is clean, safe and causes minimum impact to the surrounding lands is an immense technological challenge. We'll be meeting that challenge with the combined expertise of the project's partners, Rio Tinto and BHP Billiton.<ref> http://www.resolutioncopper.com/res/whoweare/1.html
</ref>

==Ownership==

Resolution Copper is a part of the Rio Tinto Group and is a partnership
between two of the world’s leading international mining companies,
Rio Tinto (RT) and BHP Billiton (BHP).The project is owned 55 percent by
Rio Tinto and 45 percent by BHP Billiton.<ref> http://www.resolutioncopper.com/res/whoweare/1.html
</ref>

==Location==

The Resolution Project is located in the historic Pioneer Mining District three miles east of Superior, Arizona.<ref> http://www.resolutioncopper.com/res/whoweare/1.html
</ref>

==Deposit size==

Resource Category Tonnes(Mt) Cu Grade (%) Mo Grade (%)
Interpolated Inferred 1,109 1.52 0.04
Extrapolated Inferred 232 1.47 0.044
Total Inferred 1,341 1.51 0.04

Within nominal +1% Cu envelope at 0% cutoff.<ref>http://www.riotinto.com/documents/PR647g_Resolution_Copper_Mining_LLC_reports_an_Inferred_Resource_of_over_1_billion_tonnes_at_its_property_in_Arizona_USA.PDF
</ref>

==Production start date==
Production will commence in 2020.<ref> http://www.riotinto.com/documents/PR647g_Resolution_Copper_Mining_LLC_reports_an_Inferred_Resource_of_over_1_billion_tonnes_at_its_property_in_Arizona_USA.PDF
</ref>

==Production per annum==

Resource Category Tonnes(Mt) Cu Grade (%) Mo Grade (%)
Interpolated Inferred 1,109 1.52 0.04
Extrapolated Inferred 232 1.47 0.044
Total Inferred 1,341 1.51 0.04
.<ref> http://www.resolutioncopper.com/res/whoweare/1.html
</ref>

==Process Involved==
===Exploration===

2002-2006 Identify where the ore body is located and assess potential mining approach.

===Pre-feasibility===

2007-2011 Set the stage for a viable project. Major fact-finding fieldwork and investigative work. Evaluate mining approach alternatives and related challenges. Estimate cost/resource required to proceed.

===Feasibility===

2012 Basis upon which project is approved. Determine single best approach to project. Complete sufficient design and engineering to finalize cost estimates, financial analysis and risk assessment. Rio Tinto Investment committee decides whether to commit capital.

===Construction Development===

2013-2016 Implementation begins with a clear scope of work and ends with a viable business. This stage involves detailed engineering, procurement construction and commissioning of primary mining contractor activities. Recruitment and training also heavily under way.

===Production===

2017-2040+ Mining under way.<ref> http://www.resolutioncopper.com/res/whoweare/project_development_steps.pdf
</ref>

==Notes==

The mine will be deep underground using a method known as block caving. Unlike an open pit mine, which involves extensive removal of the surface waste rock to access the orebody, the block cave method accesses the orebody from underneath through a series of deep shafts and tunnels. These shafts and tunnels generate minimal waste rock. Rock which is generated will be used for reclaiming and restoring the adjacent site of the former Magma mine.<ref> http://www.resolutioncopper.com/res/mediacenter/sd_report08.pdf
</ref>

Namosi copper project

Data — Mon, 09 Jun 2008 16:33:13 GMT

Summary: New page: ==Brief Overview== ==Location== The Namosi copper project, about 30km northwest of Suva on the island of Viti Levu<ref>http://www.fijitimes.com/story.aspx?id=64193 </ref> ==Ownership== ...

==Brief Overview==

==Location==

The Namosi copper project, about 30km northwest of Suva on the island of Viti Levu<ref>http://www.fijitimes.com/story.aspx?id=64193
</ref>

==Ownership==
Japan's Nittetsu Mining and Mitsubishi Materials. <ref>http://www.fijitimes.com/story.aspx?id=64193
</ref>

==External Analysis==

===Australia dominates Fiji's mining sector ===
* The mining sector has been dominated by the operations of a single group of expatriate Australian companies, Emperor Gold Mines Ltd, at Vatukoula. Its management and shareholding have at various times included non-Australian players, notably South African and New Zealand. There have been changing configurations in the company structure as well as a partnership at one time with the much larger and well-known Australian company Western Mining.
* Mt Kasi is the only other operating gold mine, a lower grade mine with a less consistent history. It operated for a number of years during the 1930s and 1940s, and then off and on since independence. It could roll into operation again later this year, this time under the helm of the Burdekin Pacific Ltd, a company based in Perth. Burdekin expects operations at Mt Kasi to be "highly profitable at the current gold price with relatively low operating costs."
* For close to 20 years now, Namosi has been the focus of exploration and development activities over its massive low-grade copper deposit. Placer Pacific, the developer of the Porgera and Missima mines in Papua New Guinea, has driven this work. The Namosi mine has been described as one of the biggest in the world, geologically similar but even larger than the huge Panguna copper mine, which was closed down by landowners in an insurrection on the island of Bougainville in 1989.
===Profitability of Fiji mining ===
* The fortunes of EGM and its partners have fluctuated, due to factors like the gold price and rising costs of production, but the Vatukoula ore bodies have included very high-grade reserves. In fact, the rich deposits of the early Loloma and Dolphin mines were a cause for celebration, as was the Nasomo mine much later.
* EGM has mined around 6.5 million ounces of gold since the 1930s and reaped handsome returns. However, its corporate structure combined with what are euphemistically called tax-efficient accounting practices, has helped to disguise the true picture of its profitability.
===Mine Labour ===
* Underground mining is probably the toughest form of paid employment there is. It carries inherent and high-level risks. As a former Inspector of Mines recently noted in a government memorandum, it takes a special type of individual to work in an environment that is pitch dark, dusty, wet, noisy, dangerous and very hot. Vatukoula is also described as one of the harshest mining working environments in the world.
* In the years before the Second World War, hundreds of young Fijian men were plucked out of their villages and away from their traditional customs and lifestyle, and thrown into an austere and alienating industrial environment. They came from all of Fiji's 14 provinces to raise money for their communities, and to help pay the provincial tax levy imposed by the colonial government. They were paid just 2/- a day for work on the surface and 2/6 underground, in addition to basic rations and housing.
===Low wages & worker poverty ===
* Today, contrary to the general rule elsewhere, mining in Fiji is a low-wage industry. For much of our post-independence history in fact, average mine wages have lagged significantly behind those in other sectors like construction, transport and service sectors. Elsewhere in the world, mining is usually a highly paid occupation because of the special skills, risks and health and safety hazards.
* Today, Vatukoula's most experienced and highest paid miners do not earn much more than FID$15,000, if that. The majority earn much less. A decade ago, earnings for an experienced underground contract miner at the Mt Isa Mine in Queensland were AUD$65,000. A top paid miner at Vatukoula would be lucky to earn one-quarter of this.
* Low incomes have produced a high incidence of worker debts, in the form of salary advances, credit advanced at the company supermarket, or loans from private moneylenders. Private loans are needed not for luxuries but for basic day-to-day needs like school fees, food and family obligations. Ultimately, the Vatukoula community remains very poor despite the fact that it has been the backbone of growth and foreign exchange earnings for the sector.
===The Vatukoula laager ===
* The mining town is usually a fairly unique type of community, isolated and artificially built around the industry. The origins of the Vatukoula township lay in the company's realisation that it was economically more prudent to have a permanent rather than a migrant workforce. Although this brought some benefits for workers such as schools and family housing, there has been a price to pay in the disempowerment and dependence associated with a company-controlled town.
* At Vatukoula, a colour bar defined the job and wage system, the allocation of housing, and access to recreation. Fijians who formed the bulk of the mine workforce were at the bottom of the pile in every respect.
===Degrading housing ===
* Poor housing has been a source of complaint and a strike issue for workers at Vatukoula since as far back as 1947. Today housing continues to carry the scars of discrimination typical of the colonial past. Although it is now allocated according to occupational or income status, rather than ethnicity or race, the result is much the same. Most low-earning Fijian workers still live in separate settlements whose dilapidated houses were mostly built 60 -70 years ago, in the 1930s and 1940s, and of the poorest standard.
* Kitchens consist largely of outdoor lean-tos. Substandard showering and toilet facilities are organised in grim communal blocks, shared by three to four families, some distance from individual houses. The women in particular face problems visiting the toilets at night, especially when they are pregnant, when it is raining, or when their children are sick. The Narau barracks, built in the 1930s to house single men, has in recent years packed whole families into single rooms approximately 18 feet by 12 feet.
===Health problems ===
* Not surprisingly, the Vatukoula community is extremely unhealthy. Poor health standards are linked to high poverty levels and unhealthy living and working conditions, including water and atmospheric pollution. Health issues include respiratory/chest problems, diarrhoeal diseases, sinus problems, skin complaints, and deafness. Services are very basic, and despite repeated requests, the company has never built a hospital.
* Both underground and surface mill (especially roaster) workers have long suffered a range of respiratory problems like asthma, shortness of breath, respiratory tract infections, and nose and throat infections. These have been linked, by medical opinion, to poisonous industrial gases, particularly sulphur dioxide, pumped out into the atmosphere every day by the roaster; nitrous oxide and other gases underground; and rock dusts underground and in the mill.
===Water and atmospheric pollution ===
* Government inspections and reports have periodically confirmed water and atmospheric pollution at Vatukoula. Cyanide traces have been found in fish and water declared unfit for human consumption. The 1981 ESCAP report confirmed the existence of significant environmental hazards at Vatukoula, and recommended that Emperor's lease should not be renewed in 1983 unless the company prepared a satisfactory programme for monitoring the environmental impact.
* A major environmental audit in 1994 for EGM confirmed higher than safe levels of mercury and cadmium in water samples taken from the Nasivi River. It also agreed that the non-chlorination of the drinking water was probably the main reason behind the prevalence of gastro-intestinal disease in the community.
===Mine waste harms fisheries ===
* A few years ago, the people of Wailevu, on whose land the Mt Kasi Mine is lodged, felt the full brunt of toxic industrial discharges into their river system. The pollution forced the closure of the mine. At Namosi, Placer's preliminary Environmental Impact Assessment admitted that mine waste seeping into the local rivers would be likely to harm important subsistence and income earning fisheries, including the fresh water kai harvested far downstream by women for their families.
* Another potential hazard from mining at Namosi could result from the proposed method of tailings disposal off the south coast of Viti Levu. If this occurs, there is a strong likelihood of harm being done to marine life, even if the dumping is done at deep levels. The settlement of tailings on the ocean floor will smother or choke deep-sea snapper. This tailings disposal method has already caused this problem at the Missima Mine in PNG.
===Deaths and serious accidents ===
* Vatukoula also has a poor track record of serious accidents, with at least 18 fatalities since 1986. Any cost benefit assessment of mining for a developing country like Fiji must take into account the toll on human life and the environment on which human life depends. We must set the highest possible safety standards and be vigilant in monitoring them.
* Priority should be given to listening to the most important stakeholders, the mineworkers and their families, on occupational health and safety issues. At Vatukoula, many of today's workers have been labouring deep in the underground mines, or in the mill, for 20-30 years. They know just about every nook and cranny of the mines and understand fully the personal risks they take every day. They also know the full extent of sickness in the mining community - the respiratory illnesses, asthma and chronic bronchitis resulting from mine dust and gases; the skin diseases and diarrhea linked to the polluted water; and the deafness from dynamite blasting.
===Inadequate mining regulations ===
* Regulations governing mining operations are woefully inadequate. The Mining Act has remained pretty much unchanged since the mid-1960s despite many government-commissioned reports recommending proper environmental standards, pollution control, and other improvements to legislation.
* One of the controversial aspects of the mining sector's regulatory framework is the exclusion of the industry from the orbit of the Occupational Health and Safety Act. Another is the discretionary powers vested in the Minister for Mineral Resources under the Mining Act. The Vatukoula Tax Agreement exemplifies the dangers of these powers, and how they can be misused.
* The Mining Act has been under review for more than eight years. Why are we still waiting for an amendment Bill to come before Parliament when the work was completed about three years ago? Disturbingly, it appears that the Mines Department has been told to take its time with the review, and to aim for 2005 or so, by which time a new tax agreement will have been negotiated by EGM. This has serious implications. If a new special tax agreement is concluded with the EGM first, the company will escape the more stringent measures that may find their way into the new Mining Act.
===More transparency, accountability needed===
* It is imperative that we improve the regulations governing the mining industry without further delay. Most importantly, our regulatory regime, including any tax agreements negotiated with foreign companies, should be reviewed and endorsed by Parliament. The review should involve consultations with the local community, as in Papua New Guinea. The power to make such important decisions should not be in the hands of an individual Minister or Cabinet. We need more transparent discussion, and Ministers accountable to Parliament, or there will be more back room deals struck between unscrupulous or ill informed, ill-advised Ministers and private mining companies.
* For all new mining projects in Papua New Guinea, the PNG Mining Act requires three-party consultation and contractual agreement between mining companies, local communities, and government on the nature of operations, compensation, and royalties. The terms of the PNG tax agreement are published and accessible, and an Act of Parliament is needed for an agreement, ruling out secrecy. This gives less room for backroom deals.
===Land and royalties ===
* A long overlooked aspect of our mining industry is the land used for mining, and the system of royalty payments and compensation for environmental damage. I began researching and writing about this in the early 1980s, and the Labour Party took up the issue during the 1987 elections.1 A full investigation into the compensation system was scheduled for 1987, following the election of the Labour-led Government, but the coup put a stop to it.
* In a nutshell, the interests of indigenous resource owners have been compromised from the earliest days of mining. Although colonial 'land' policy was at least theoretically based on the principle of inalienability and paramountcy of Fijian interests, colonial 'mining' policy, by contrast, explicitly threatened indigenous land rights from the 1930s.
===Dispossession of indigenous resource owners ===
* Under the 1908 Mining Ordinance, Fijian landowners had the right to compensation (royalties) from the exploitation of their mineral wealth. However, in 1934, as prospects for a gold industry proved positive, these provisions were repealed and a new Mining Ordinance was introduced. One of its main aims was to dispossess Fijian resource owners of their claim over mineral rich land. Mt. Kasi landowners were the main targets, being principal owners of a 2,000-acre area with proven mineral wealth. The CSR also held claim to a part of this area at the time.
* After 1934, both royalty and subsurface rent (which were fees for mining leases) were paid into general revenue. Interestingly, in its draft form, the 1934 Mining Ordinance gave landowners 25% share of royalty revenue. This was hotly debated within the British Government, and by the time the bill was in its final form, the anti-royalty lobby had won the day. Indigenous landowners lost their right to any compensation for the exploitation of their mineral wealth.
===Back door tactics ===
* In Fiji, the colonial authorities knew they could not get away with tampering with the native lands legislation. They anticipated strong opposition and that they would have to pay compensation. So they sneaked in the back door, bringing in fresh mining legislation instead. This enabled mining land to be absorbed as Crown land, with no compensation going to landowners, and, as predicted, provoking no opposition.
* The removal of landowner rights over mineral rich land was achieved by another device: the introduction of a distinction between surface and subterranean tenure. This enabled the state to claim ownership over land beneath the surface, and reduced the property rights of Fijian landowners to the surface. The distinction was an invention of the British Government designed to secure its claim over mineral wealth found in colonies like Fiji and Ghana (then the Gold Coast) where land rights had already been vested in the traditional owners.
* Under customary land tenure, there was, and is, no such distinction between surface and subterranean land. Just as land rights do not end where the land meets the sea (but extend through qoliqoli - customary fishing grounds), so too they are not confined to a certain depth of the soil. But back in the 1930s, the cultural definition of land ownership was pushed aside for economic and political expediency, and all precious metals and minerals, including gold, became the property of the Crown.
* This early history of the mining industry truly captures the ugly face of imperial conquest - the opportunism and the greed. Fijian resource owners could not protect their interests largely because they did not know what was really going on. Even when they tried to find out, they were not told the facts. The consequences of these dubious tactics have been far reaching. In financial terms, they have meant that landowners with mineral-rich land have been deprived of any form of income from its exploitation, apart from the usual surface rent. This still continues despite the fact that section 186 of the Constitution on customary laws and rights provides for a more equitable arrangement.
* The land issue is just one of the many features of our outdated mining law that urgently need reform. We must ensure that this is done comprehensively and honestly, and that there are no more incidences of legislation being sneaked in the back door.
===Struggle of the Nasomo people ===
* Not all the problems inflicted on landowners by the mining industry took place during the colonial period. Nor is this a colonial legacy over which we have had no control, or that we could not have reversed. In fact, it is arguable that more damage has been done during the 30-odd years SINCE independence. The sad case of the Nasomo people is a case in point. They lost control over around 1000 acres of their land when a 21-year special mining lease was granted to EGM and Western Mining in 1983 without their approval and despite their strong objections. This land included a bulubulu (burial ground), a water catchment area, streams and farming land.
* The Nasomo people were given only a 17-month guarantee that their water supplies would be protected, despite the fact that the mining lease over their land was for 21 years. They wanted a guarantee for a continued and uncontaminated water supply; compensation for damage to fishing reserves and crops; and protection against the toxic roaster fumes. Their pleas fell on deaf ears.
* For the last 20 years, the Nasomo landowners have been embroiled in a legal struggle to regain control over their land and acquire a fair share of the revenue derived from mining. They have argued that both the mining companies and the state have breached the existing mining and land laws; that there have been acts of trespass, unlawful dispossession and appropriation, physical danger and environmental damage.
* A judgement on this case last year awarded some compensation to the landowners. However, as a FID$1 million pay out, it falls well short of the FID$10 million claimed, and lawyers fees have eaten up about 25% of this money.
===EGM's power and influence ===
* EGM has wielded significant influence over successive governments. From the earliest days, the companies knew what they wanted, and how to go about getting it. Their tactics ranged from promises to tantrums. They wooed and they threatened. And there was always the same trump card to play. Whenever government did not succumb without a fuss, it would threaten to lay off its workforce and close down the mine. This threat, verbal or unspoken, always worked.
* EGM has always recognised the importance of good public relations. Unlike the mineworkers, it has had the resources to counter any bad publicity, to promote its own message, and to opt for lengthy court battles when it suited. It has been astute in using the chiefly system to its advantage, especially when extra workers were needed, or a strike had to be put down. The mineworkers' unions have been no match for the company. It has always been a David and Goliath battle, although in this case unfortunately, Goliath has usually been the victor.
* Over the years, the combined stick and carrot approach became EGM's trademark. After independence, New Zealand Manager Jeffrey Reid continued the tradition, making no secret of his strong anti-union views. He also moved from the shallow to the deep end of Fiji politics, by helping to bring down Dr. Timoci Bavadra's2 Labour-led Government in 1987. He did so because for the first time the company faced the prospects of a government that was going to stand up for the indigenous mineworkers, and the Nasomo landowners. It was not going to be bullied or bought.
===Economic and Tax Issues===
* The power of the EGM group is probably best illustrated in the financial assistance and tax regime it has secured from the state and taxpayers. Fiji has been stripped of millions of dollars in development revenue due to an excessive and distorted tax and concessions regime benefiting this single expatriate group of companies. Financial assistance began during the colonial period and continued after independence. The group has enjoyed exemptions or reductions in income tax; waivers of export tax and royalty; million dollar grants; subsidies; and soft or interest free loans.
* The Emperor group has made substantial profits but paid woefully inadequate income tax. In the first 16 years of independence (1970-86), the turnover in gold exports (excluding revenue from silver and thus conservative) came to around FID$200 million. Total tax payments amounted to only about FID$1 million, representing a negligible proportion (some 0.5%) of the market value of Vatukoula's mineral wealth.
===Secret Vatukoula Tax Agreement===
* In 1983, the government approved 21-year mining leases and a special prospecting license for EGM and its Australian partner Western Mining. The icing on the cake was the VTA, a secret tax agreement that was not submitted for parliamentary scrutiny, nor even gazetted. Three Commonwealth economists have described it as "a generous and expensive subsidy probably far greater than necessary to induce investment in relatively high-grade deposits." It is regarded as unparalleled when compared with mining tax regimes in other countries, with the exception of Australia up until 1990.
* Apart from the 7-year tax holidays on new mines, the VTA applied a royalty formula of 2.5% on net profit. This is quite out of line with the formula prescribed by the Mining Act, namely 5% of the value of production.
* The principle of linking royalty to the value of extracted minerals is in my view a fair one, and this is what the Mining Act has laid down. Gold, silver, copper or other minerals are finite, non-renewable resources. You cannot "replant" them like mahogany or other valuable hardwoods. Once they are dug out, and processed, they are gone. In PNG, a production-based royalty is paid to landowners and the provincial government.
* The special VTA royalty formula has been at great cost to the country and the landowners. Taking a 14-year period during the 1980s and 1990s, the country lost around FID$45 million in royalty revenue. Some years, returns were pathetically low, and even paid up to two years in arrears. In 1984 and 1985, for example, the group paid just FID$584 and $80 respectively. The $564 for 1984 was not paid until 1986. The $80 levy for 1985 also took two years to come in. In 1990, when EGM received nearly $77 million from gold sales, it paid nothing at all in royalty.
* A Senate Select Committee would do Fiji great service if it gave serious attention to the matter of royalty compensation and tax levies in the mining industry. The VTA has set a dangerous precedent, and other mining investors are hopeful of securing a similar deal. Moreover, as the life of the VTA and EGM's 21-year mining leases draw to a close, the company may be hoping to breathe more life into them. The government faces a real challenge to stand firm. It also faces a test of its own integrity. It has the chance to do the right thing by this country, and the landowners.
===Problems getting justice in court ===
* The problems of Vatukoula's indigenous workforce have been eclipsed by an industrial strike now 11 years old. These workers feel so passionately about their grievances that they still have a picket line after all this time. I don't know whether this has happened anywhere else in the world. Their plight continues to be ignored, their cries unheard.
* The 1995 arbitration enquiry set up to look into the strike made many recommendations. These have unfortunately come to nothing due to a legal challenge by EGM. The matter has been in court now for nearly 10 years. I have a special interest in the enquiry as I appeared as a witness.
* In many ways, the arbitration was typical of how business has always been done at Vatukoula, and why it has been so hard for the community to get justice. There has never been money to hire lawyers who will match the accomplished legal high flyers engaged by EGM. Many times in the past, the workers had to represent themselves, and they were out of their depth. The cards were always stacked against them and many an industrial battle was lost.
* In 1995, as witness after witness was produced by the union, the pattern was always the same. A shy and nervous man or woman would take the stand to answer questions, and to offer information. Always cooperative, never obstructive. But fearful perhaps lest the truth should shine through too strongly from the testimonies of these simple, honest people, the company lawyer shouted and screamed, rebuked and denigrated. The intimidation and the shame were something I will never forget. "Do you speak English? Tell me, do you speak English?"
===Company censorship ===
* I have had my own experience of such heavy-handed tactics. In 1994, the company tried to stop the publication of my book by Cambridge University Press,3 as it was about to go to print. Last year, during the Human Rights Film Festival, company lawyer Sahu Khan forced a local cinema to stop the screening of a documentary I made 10 years ago, highlighting the plight of the mineworkers and the 1991 strike.
===The need for Senate investigation===
* The 21-year old mining leases being held by EGM and the infamous Vatukoula Tax Agreement are drawing to a close, and are likely to be renegotiated. There are moves to recommence mining at Mt Kasi. Recent media reports have detailed some expected new mining investments in the country.
* Evidence pointing to the adverse effects of mining activities in Fiji has been around for a long time, highlighted by the recurring accident fatalities at Vatukoula; the huge loss of revenue caused by distorted mining tax regimes; the harmful impact of environmental pollution on community health and livelihoods; and diverse worker grievances.
* These problems are only the tip of the iceberg, and remain largely unresolved. A Senate committee should investigate the mining industry. Every villager, mineworker, resource owner, or other stakeholder should feel assured that if they come forward to offer information or a personal perspective, they will be treated with respect, dignity and fairness.
* Mining policy should not be based simply on economic or financial considerations, or the foreign exchange to be earned from exporting gold. If ever there was an industry that has touched the lives and livelihoods of ordinary people to such an extent and in such drastic ways, this is it. We owe it to those who have given their lives to this industry and who have laboured away in the bowels of the earth, not simply to reduce this industry to the dollars and cents it generates.
* There is no simple solution or single answer to the problems of Fiji's mining industry, but remedies are likely to be found in better legislation; tougher corporate standards; more stringent environmental, health and safety regulations; a more equitable mining taxation system; greater protection of landowner interests; and improved employment conditions. There is a need to break free from the shackles of a company-controlled town.
* We need to ensure that government is more responsive to the plight of the marginalized and powerless in our community. It is our duty to help forge development polices that are more just, sustainable and people-centred. This is not only in the interests of today's generation, it is also in the interests of generations to come. <ref> http://www.pacificecologist.org/archive/fijimining.html
</ref>

Frieda River

Data — Mon, 09 Jun 2008 16:23:55 GMT

Summary: New page: ==Brief Overview== A very large porphyry copper deposit was first discovered at Frieda River in the West Sepik Province in the 1960's. The mineralised system is so big that despite over 3...

==Brief Overview==

A very large porphyry copper deposit was first discovered at Frieda River in the West Sepik Province in the 1960's. The mineralised system is so big that despite over 30 years of exploration many of the mineralized zones are poorly understood.<ref> http://www.pdac.ca/pdac/publications/papers/2002/T-23.pdf
</ref>

==Location==

The Frieda River project is located in Sandaun province, northwestern Papua New Guinea, about 90 km north of the Ok Tedi mine and 175 km west of the Porgera mine.<ref> http://findarticles.com/p/articles/mi_qa5382/is_199803/ai_n21419562
</ref>

==Ownership==

Xstrata Copper exercised an option to obtain a 73.7% interest in the Frieda River project in a joint venture with Highlands Pacific Limited (16.4%) and Japan’s OMRD (9.9%).<ref> http://www.xstrata.com/annualreport/2007/page65
</ref>
==Production per annum==

The Ramu project will produce some 31,150 tonnes of nickel and 3,300 tonnes of cobalt per annum when fully operational, with an operating life estimated to be in excess of 20 years.<ref> http://www.highlandspacific.com/info/ASXannounc/Announcements/Company_Update.pdf
</ref>

== Production Start Date==

Exploration of high-grade targets will continue in 2006.<ref> http://www.noranda.com/documents/newsletters/Growth_Opportunities.pdf
</ref>

==Deposit size==

The total porphyry copper resource is estimated to be in excess of 1000 million tonnes at 0.5% copper and 0.3 g/t gold. The high sulphidation Nena resource, which lies adjacent to theporphyry system, has reserves of 52.8 million tonnes grading 2.0% copper and 0.7 g/t gold with an additional oxide gold cap of 12.8 million tonnes grading 1.4 g/t gold and 0.1% copper using a 0.25% copper and 0.6 g/t gold cut-offs.<ref> http://www.pdac.ca/pdac/publications/papers/2002/T-23.pdf
</ref>
==Capital Cost==
Estimated capital cost of the project was US$1.6 billion.<ref> http://www.pdac.ca/pdac/publications/papers/2002/T-23.pdf
</ref>

==Notes==

Anticipated availability of low-cost power, generated from natural gas supplied from a regional gas field, contributed to the potential viability of the project. Infrastructure requirements would include the power station; an airstrip; 90 km of roads connecting the mine sites, the process plants, and a wharf on the Sepik River; and residential and community facilities at the mine site.<ref>http://findarticles.com/p/articles/mi_qa5382/is_199803/ai_n21419562
</ref>

In total, 1,423 metres of drilling to collect metallurgical samples and 6,135 metres of exploration drilling were completed.<ref>http://www.xstrata.com/annualreport/2007/page65
</ref>

The pre-construction work by MCC Ramu NiCo Ltd (manager and operator) “MCC” continued during the 2007 year with a
number of major milestones being completed, including:

* Accommodation and administration infrastructure in place

* 95% of the total earthworks at the processing plant being completed;

* Work commencing on the Basamuk wharf;

* Ramu River road bridge completed (temporary bridge);

* Access road to the mine site opened;

* Major equipment ordered and in some cases under manufacture (autoclaves);

* Construction of the Madang office complex commencing; and

* Majority of the IT platform installed and operational.

The pre-construction committed expenditure to the end of the 2007 year amounted to nearly USD200 million. Committed expenditure for 2008 is estimated to be approximately USD350 million and the project remains on target for the Kurumbukari mine to be commissioned in the first half of 2009 and the Basamuk process plant commissioning in late 2009. The major milestones for the 2008 year include:

* Project financing to be completed and the project to move ‘officially’ into construction;

* Permanent Ramu River road bridge completed;

* Basamuk wharf completed – thus allowing project components and freight to be unloaded right at the project site;

* 60% of the pipeline steel work to be delivered to site with 50% of the pipeline installation completed;

* First of the autoclaves consigned with the on site installation work commenced;

* Civil construction for the mine beneficiation plant completed; and

* Madang office complex
completed.<ref>http://www.highlandspacific.com/info/ASXannounc/Announcements/Company_Update.pdf
</ref>

= = External Analysis = =

Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for 85% of the population. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. The government of Prime Minister SOMARE has expended much of its energy remaining in power. He was the first prime minister ever to serve a full five-year term. The government also brought stability to the national budget, largely through expenditure control; however, it relaxed spending constraints in 2006 and 2007 as elections approached. Numerous challenges still face the government including regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and balancing relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including a worsening HIV/AIDS epidemic and chronic law and order and land tenure issues. Australia will supply more than $300 million in aid in FY07/08, which accounts for nearly 20% of the national budget.

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''GDP (purchasing power parity):'''
| align="center" style="background:#f0f0f0;"|'''$16.56 billion (2007 est.)'''
|-
| GDP (official exchange rate):||$5.914 billion (2007 est.)
|-
| GDP - real growth rate:||4% (2007 est.)
|-
| GDP - per capita (PPP):||$2,900 (2007 est.)
|-
| GDP -composition by sector:||agriculture: 35.5%
|-
| industry: 37%
|-
| services: 27.5% (2007 est.)
|-
| Labor force:||3.557 million (2007 est.)
|-
| Inflation rate (consumer prices):||1.8% (2007 est.)
|-
| Investment (gross fixed):||20.4% of GDP (2007 est.)
|-
| Budget:||revenues: $2.209 billion
|-
| expenditures: $1.994 billion (2007 est.)
|-
| Public debt:||43.7% of GDP (2007 est.)
|-
| Agriculture - products:||coffee, cocoa, copra, palm kernels, tea, sugar, rubber, sweet potatoes, fruit, vegetables, vanilla; shell fish, poultry, pork
|-
| Industries:||copra crushing, palm oil processing, plywood production, wood chip production; mining of gold, silver, and copper; crude oil production, petroleum refining; construction, tourism
|-
| Industrial production growth rate:||4.8% (2007 est.)
|-
| Oil - production:||50,000 bbl/day (January 2006 est.)
|-
| Oil- consumption: ||26,000 bbl/day (2005 est.)
|-
| Oil - exports:||44,580 bbl/day (2004)
|-
| Oil - imports:||24,020 bbl/day (2004)
|-
| Oil - proved reserves:||240 million bbl (1 January 2006 est.)
|-
| Natural gas - production:||95.91 million cu m (2005 est.)
|-
| Natural gas - consumption:||95.91 million cu m (2005 est.)
|-
| Natural gas - exports:||0 cu m (2005 est.)
|-
| Natural gas - imports:||0 cu m (2005)
|-
| Natural gas - proved reserves:||331.3 billion cu m (1 January 2006 est.)
|-
| Current account balance:||$314 million (2007 est.)
|-
| Exports:||$4.553 billion f.o.b. (2007 est.)
|-
| Exports - commodities:||oil, gold, copper ore, logs, palm oil, coffee, cocoa, crayfish, prawns
|-
| Exports - partners:||Australia 30.2%, Japan 8.2%, China 5.7% (2006)
|-
| Imports:||$2.269 billion f.o.b. (2007 est.)
|-
| Imports - commodities:||machinery and transport equipment, manufactured goods, food, fuels, chemicals
|-
| Imports - partners:||Australia 52%, Singapore 12.6%, China 5.9%, Japan 4.3% (2006)
|-
| Economic aid - recipient:||$266.1 million (2005)
|-
| Reserves of foreign exchange and gold:||$1.664 billion (31 December 2007 est.)
|-
| Debt - external:||$1.814 billion (31 December 2007 est.)
|-
| Stock of direct foreign investment - at home:||$NA
|-
| Currency (code):||kina (PGK)
|-
| Exchange rates:||kina per US dollar - 3.03 (2007), 3.0643 (2006), 3.08 (2005), 3.2225 (2004), 3.5635 (2003)
|-
| ||
|-
|
|}
.<ref> https://www.cia.gov/library/publications/the-world-factbook/geos/pp.html
</ref>

Bougainville

Data — Mon, 09 Jun 2008 16:08:53 GMT

Summary: New page: ==Brief overview== Bougainville is the principal island of the northern group of the Solomon Islands . It is approximately 190km long by 50 km wide. An island of great natural beauty, it f...

==Brief overview==
Bougainville is the principal island of the northern group of the Solomon Islands . It is approximately 190km long by 50 km wide. An island of great natural beauty, it features a steep mountain range, in parts more than 2,500 metres high. The soil is mainly volcanic. Mt Bagana at 200m is an active volcano. Bougainville has relatively little flat land except in the northern and coastal areas. Its fertile areas coupled with rainfall which rises to 5000mm a year in the mountain areas, allows copra and cocoa to be grown successfully as commercial crops. Until 1989, more copper, copra and cocoa were exported from Bougainville than from any other place in Papua New Guinea.<ref> http://www.bougainvillecopper.com.pg/bougainville.htm
</ref>
==Location==

Bougainville is an island in the Pacific, East of Papua.<ref>http://www.eco-action.org/bougainville/
</ref>

==Producton start date==

The production phase of its gold-copper mining claims in South Cotabato province by 2010.<ref>http://www.manilastandardtoday.com/?page=business01_may19_2006</ref>

==Deposit size==
Estimated ore reserves within the limits of the planned open pit were approximately 900 million tonnes of ore averaging 0.48% copper and 0.55 grams of gold per tonne. It was expected that the concentrate to be shipped would contain approximately 30% copper, 1 ounce gold per tonne and some silver.<ref> http://www.bougainvillecopper.com.pg/orereserv.htm
</ref>

==Capital Cost==
The mine has been heavily damaged by fighting on the island, and some analysts estimate it would cost $US1.5 billion ($2 billion) to re-open.<ref>http://www.smh.com.au/news/business/plenty-of-interest-in-bougainville-mine/2006/03/16/1142098600309.html
</ref>

==Notes==

Its an open pit mine.

==External Analysis==

Major Groups and Individuals Involved with the Conflict Bougainville Copper Limited (BCL) BCL is owned 53.9% by Rio Tinto, 19.1% by the PNG government and 27.3% by public shareholders. Bougainville People's Congress Bougainville Revolutionary Army (BRA) - Ishmael Toroama - commander of the BRA.Joseph Kabui - political leader of the BRA, and also leads the Bougainville People's Congress. Bougainville Resistance Force (BRF) Mekamui Defence Forces (Defence Forces of the Sacred Land) - Francis Ona is the leader of the Mekamui Defence Forces (Defence Forces of the Sacred Land). Francis was the leader of the original Bougainville rebellion and a member of the landowning clan that rose up against the Panguna copper mine in 1988. Ona is advised by a team that includes William Nakin and Michael Poposan, two businessmen from Buka. Papua New Guinea Defence Force (PNGDF) - Armed forces of the State of Papua New Guinea. Peace Monitoring Group (PMG) - The PMG played a crucial role in facilitating the peace process and supervise the ceasefire. It comprised a mix of unarmed military and civilian personnel from Australia, New Zealand, Fiji and Vanuatu. The group ceased activities in mid-2003 handing over to the Bougainville Transition Team.Bougainville Transition Team (BTT) - The BTT was a small, unarmed team of civilians from Australia, New Zealand, Fiji and Vanuatu deployed for a six month period in the second half of 2003 on the withdrawl of the PMG. The team helped maintain confidence and facilitate the peace process.<ref>http://www.naturalresources.org/minerals/development/indigp/Bougainville.htm#News </ref>

Tampakan

Data — Mon, 09 Jun 2008 16:04:44 GMT

Summary: New page: ==Brief overview== The Tampakan Copper-Gold Project ("Tampakan Project") is located approximately 50km north of General Santos City , a major growth centre on the southern Philippines isla...

==Brief overview==
The Tampakan Copper-Gold Project ("Tampakan Project") is located approximately 50km north of General Santos City , a major growth centre on the southern Philippines island of Mindanao .General Santos has a population of approximately 420,000 and is accessed by sealed highways, a major deep water port and a modern international standard airport with the capacity to take the largest available commercial aircraft.<ref>http://www.indophil.com/tampakan.htm</ref>
==Location==

The Tampakan project is located on the southern Philippines island of Mindanao, 65 km north of General Santos City, at the tri-boundary of three provinces-South Catabato, Sultan Kudarat, and Davao Del Sur.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953</ref>

==Ownership==
Ownership in the project will be 62.5% Xstrata, 32.5 % Indophil, and 5% Alsons Corp.,a Philippine company.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953</ref>
==Production per annum==

Its total resources are estimated at 12.8 million tonnes of contained copper and 15.2 million ounces of contained gold. The mine is due to launch production in 2013, with annual output of 200,000 tonnes of copper and 200,000 ounces of gold.<ref>http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=43527&sn=Detail</ref>
The Tampakan pre-feasibility study assumes a mining rate of 30 million mt/y, producing an average of 210,000 mt/y of copper and 218,000 oz/y of gold in concentrates during the first 10 years of operation.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953</ref>

==Producton start date==

The production phase of its gold-copper mining claims in South Cotabato province by 2010.<ref>http://www.manilastandardtoday.com/?page=business01_may19_2006</ref>

==Deposit size==

Indicated, and inferred resources stand at 2 billion mt, grading 0.72% copper equivalent. Contained metal is estimated at 11.6 million mt of copper and 14.6 million oz of gold at a cut-off grade of 0.3% copper.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953<ref>
==Capital Cost==
Capital cost to develop the project at this scale is estimated at $1.4 billion.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953</ref>
==Operating cost per pound==

Cash operating costs are estimated at less than $0.70/lb of copper, including allowances for off-site costs, transport, royalties, and treatment and refining charges and credits for gold-in-concentrate.<ref>http://findarticles.com/p/articles/mi_qa5382/is_200701/ai_n21282953</ref>

==Notes==
It seems likely that open pit mining is the more viable option because the deposit is close to the surface.<ref>http://www.galdu.org/web/index.php?odas=2549&giella1=eng</ref>
==External Analysis==
Local Opppsition –
The local folk are resisting the plans of SMI to start open pit mining operations by 2010 in the forested villages of Bong Mal, Tablu, Danlag and Folu Bato. Open pit mining operations are considered as among the most ecologically destructive method of mining as this wipes out entire forests and watershed areas."<ref>http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=43587&sn=Detail</ref>

Olympic Dam

Data — Sun, 01 Jun 2008 08:23:03 GMT

Summary: /* Production per annum */

==Brief overview==

Olympic Dam is an underground copper-uranium mine and plant located in South Australia. WMC Resources discovered the deposit in 1975 and opened the mine in 1988. <ref> http://www.infomine.com/minesite/minesite.asp?site=olympicdam
</ref>

==Ownership==

Olympic Dam is now owned and operated by BHP Billiton. <ref> http://www.infomine.com/minesite/minesite.asp?site=olympicdam
</ref>

==Location==

The mine is located approximately 26 km west of Andamooka in South Australia and 560 km northwest of Adelaide. <ref>http://www.infomine.com/minesite/minesite.asp?site=olympicdam
</ref>

South Australia, 560 km north of Adelaide and 50 km north of Woomera.
Situated in arid pastoral land. The mine is approximately 500 m underground beneath unmineralised sedimentary rocks.Only the town is known as Roxby Downs. The mine is known as Olympic Dam. <ref>http://www.sea-us.org.au/roxby/roxbyonearth.html
</ref>

==Deposit Size==

The Olympic Dam mine lease is 17,788.11 hectares on arid zone land. The property has a large number of discrete ore zones throughout an area of several square kilometres ranging in depth from 350 metres to approximately one kilometre.
Olympic Dam stood at 374Mt grading 2.1% copper and 0.7kg/t U3O8, 0.8 g/t Au and 4.5 g/t Ag. Recent drilling results have increased the mineral resource on the property by over 30%.<ref> http://www.infomine.com/minesite/minesite.asp?site=olympicdam
</ref>

==Production per annum==

* The mine would produce annually 500,000 ounces of gold, as well as 500,000t of copper and 15,000t of yellowcake. <ref> http://www.mineweb.com/mineweb/view/mineweb/en/page55?oid=20262&sn=Detail
</ref>

* Process - Processing facilities consist of a copper concentrator, hydrometallurgical plant, copper smelter, sulphuric acid plant, copper and gold/silver refineries. Recent expansions included a Svedala autogenous mill, additions to the flotation sections, two counter-current decantation thickeners, an electric slag-cleaning furnace, a new anode furnace gas-cleaning plant and additional electro-refining cells. Copper is recovered primarily by copper sulphide flotation from slurry before the copper concentrate is smelted and electro-refined to high-purity copper. Wastes generated during electro-refining are treated to recover gold and silver. After treatment by flotation, the finely-crushed ore is leached with sulphuric acid to dissolve uranium and any remaining copper. The leach liquor is processed in the solvent extraction plant to separate the residual copper and uranium streams. Copper is recovered by electrowinning and uranium converted to yellowcake and calcined uranium oxide. Installation of two pulsed columns has increased uranium recovery from solution from 90% to about 97%. These columns use an air pulse to mix the acidic and organic solutions, providing better contact for the chemical reaction involved in transferring the uranium from one to the other.

* The mine uses over 30 million litres of water daily. Water is supplied from borefields established 100 to 200 km north of Olympic Dam in the Great Artesian Basin. There is a parallel 600 mm diameter pipelineCopper cathode sheets are transported by truck within Australia and to Port Adelaide for export. All uranium oxide produced at Olympic Dam is exported.

* High levels of automation with minimal operator input are being installed in the new facilities, and incorporate diagnostics and data capture to optimise production. The process plant is controlled from a central control room (CCR) and the mine is controlled from a new mine control room. Screen-based field operator stations are provided throughout the facilities for monitoring.

==Operating Cost==

'''Capital Cost is $ US 5.18 M'''

The projected cost of the expansion will be $A7 billion ($US5.18 M). <ref> http://www.mineweb.com/mineweb/view/mineweb/en/page55?oid=20262&sn=Detail
</ref>

==External Analysis==

Olympic Dam maintains storage facilities for all waste products. The plant has been designed so that any spillage of ore, concentrate or process slurries can readily be returned to the process circuit. The plant also includes comprehensive air pollution control equipment and both air emissions and noise are monitored. Extensive radiation monitoring of personnel and the environment is ongoing.

The arid recovery reserve is an ecosystem restoration initiative working to restore Australia's arid lands. It is located partly on the Olympic Dam Mine Lease (7km2) and partly on adjoining pastoral properties.

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''GDP (purchasing power parity):'''
| align="center" style="background:#f0f0f0;"|'''$766.8 billion (2007 est.)'''
|-
| GDP (official exchange rate):||$889.7 billion (2007 est.)
|-
| GDP - real growth rate:||4% (2007 est.)
|-
| GDP - per capita (PPP):||$37,500 (2007 est.)
|-
| GDP - composition by sector:||agriculture: 3.7%
|-
| industry: 25.6%
|-
| services: 70.7% (2007 est.)
|-
| Labor force:||10.9 million (2007 est.)
|-
| Labor force - by occupation:||agriculture: 3.6%
|-
| industry: 21.2%
|-
| services: 75.2% (2004 est.)
|-
| Unemployment rate:||
|-
| 4.4% (November 2007 est.)
|-
| Population below poverty line:||NA%
|-
| Household income or consumption by percentage share:||lowest 10%: 2%
|-
| highest 10%: 25.4% (1994)
|-
| Distribution of family income - Gini index:||30.5 (2006)
|-
| Inflation rate (consumer prices):||3% (2007 est.)
|-
| Investment (gross fixed):||27.6% of GDP (2007 est.)
|-
| Budget:||revenues: $312 billion
|-
| expenditures: $299.6 billion (2007 est.)
|-
| Public debt:||15.2% of GDP
|-
| note: The Commonwealth government eliminated its net debt in 2006, but continues a gross debt issue to support the market for risk-free securities. (2007 est.)
|-
| Agriculture - products:||wheat, barley, sugarcane, fruits, cattle, sheep, poultry
|-
| Industries:||mining, industrial and transportation equipment, food processing, chemicals, steel
|-
| Industrial production growth rate:||3.5% (2007 est.)
|-
| Oil - production:||572,400 bbl/day (2005 est.)
|-
| Oil - consumption:||903,200 bbl/day (2005 est.)
|-
| Oil - exports:||333,200 bbl/day (2004)
|-
| Oil - imports:||611,400 bbl/day (2004)
|-
| Oil - proved reserves:||1.437 billion bbl (1 January 2006 est.)
|-
| Natural gas - production:||38.62 billion cu m (2005 est.)
|-
| Natural gas - consumption:||25.72 billion cu m (2005 est.)
|-
| Natural gas - exports:||12.9 billion cu m (2005 est.)
|-
| Natural gas - imports:||0 cu m (2005)
|-
| Natural gas - proved reserves:||750.6 billion cu m (1 January 2006 est.)
|-
| Current account balance:||$50.96 billion (2007 est.)
|-
| Exports:||$139.4 billion (2007 est.)
|-
| Exports - commodities:||coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
|-
| Exports - partners:||Japan 19.6%, China 12.3%, South Korea 7.5%, US 6.2%, India 5.5%, NZ 5.5%, UK 5% (2006)
|-
| Imports:||$152.7 billion (2007 est.)
|-
| Imports - commodities:||machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products
|-
| Imports - partners:||China 14.4%, US 14.1%, Japan 9.6%, Singapore 6%, Germany 5.1% (2006)
|-
| Economic aid - donor:||ODA, $2.123 billion (2006)
|-
| Reserves of foreign exchange and gold:||$71.15 billion (31 December 2007 est.)
|-
| Debt - external:||$757.9 billion (30 June 2007)
|-
| Stock of direct foreign investment - at home:||$246.2 billion (2006 est.)
|-
| Stock of direct foreign investment - abroad:||$226.8 billion (2006 est.)
|-
| Market value of publicly traded shares:||$804.1 billion (2005)
|-
| Currency (code):||Australian dollar (AUD)
|-
| Exchange rates:||Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003)
|-
|
|}
<ref>http://www.infomine.com/minesite/minesite.asp?site=olympicdam</ref>

==Notes==

* Underground mine –<ref> http://www.mineweb.com/mineweb/view/mineweb/en/page55?oid=20262&sn=Detail
</ref>

* Olympic Dam has 250kms of underground road and an electric train to collect crushed rock and bring it to the surface. The mine uses over 30 million litres of water daily, piped from artesian wells up to 200km away. <ref> http://www.infomine.com/minesite/minesite.asp?site=olympicdam
</ref>

Petaqquilla

Data — Sun, 01 Jun 2008 08:12:58 GMT

Summary: /* Deposit size */

==Brief overview==
Petaquilla is a large open-pit copper project in Panama that’s in the pre-development phase. The property is located 120 kilometers west of Panama City, 20 kilometers from the Caribbean coast.<ref> http://www.inmetmining.com/ouroperations/pre-development/Petaquilla/default.aspx
</ref>
Petaquilla Copper Ltd was incorporated under the Business Corporations Act (British Columbia) on March 15th, 2006. The Company was created to develop the copper assets previously held by Petaquilla Minerals Ltd.
In 1998 AMEC Engineering (formerly H.A. Simons) completed a feasibility study for joint venture partners Inmet Mining and Teck Cominco. The project was estimated to contain a mineral resource of 1.115 billion tones grading 0.50% copper, 0.09 grams per tones gold, 0.015% molybdenum, as well as recoverable silver. Since 1998 the Company has concentrated on upgrading the 1998 AMEC resource estimates to NI-43-101 standards while concurrently embarking on an aggressive drill program in order to increase resources.<ref> http://www.petaquilla.com/default.asp?i=0
</ref>
==Location==

The project area is located in the District of Donoso, Province of Colon, approximately 100 kilometers west of the Panama Canal on the Caribbean Coast. Petaquilla Minerals' land holdings are situated in the perfect position to ship concentrate at low cost to Europe, Asia, and North America.<ref> http://www.petaquilla.com/default.asp?i=0</ref>

==Ownership==

Inmet holds a 48 percent equity interest in Minera Petaquilla, S.A., the Panamanian company that
holds the Petaquilla concession, while Petaquilla currently holds a 52 percent equity interest.<ref>http://www.inmetmining.com/Theme/Inmet/files/pdf/2007_Petaquilla_Release_January_10pdf.pdf
</ref>

==Production per annum==

Mine production

* Mineral resources under mine plan(1) 986 million tones

* Mine life 23 years

* Daily mill throughput 120,000 tones

* Strip ratio (waste to ore) 0.97 to 1.00

Metal production – life-of-mine

* Copper 4,445,000 tones

* Gold 1,628,000 ounces

* Molybdenum 59,500 tones

Metal production – average annual years 1 to 10

* Copper 223,000 tones

* Gold 87,000 ounces

* Molybdenum 2,680 tones.<ref>http://www.inmetmining.com/Theme/Inmet/files/pdf/2007_Petaquilla_Release_January_10pdf.pdf
</ref>

==Producton start date==

The first gold pour is scheduled for Q.3 2008.<ref>http://www.petaquilla.com/default.asp?i=0</ref>

==Deposit size==

An initial measured resource estimate of 1.02Mt grading 0.85% copper for 19.0Mlb (8,618t) copper for El Real, while Brazo is estimated to host inferred resources of 37.4Mt grading 0.63% copper for 517Mlb copper contained, both at a 0.5% cutoff.<ref> http://www.businessnewsamericas.com/story.jsp?idioma=I&sector=7&noticia=434642
</ref>

==Capital Cost==
Estimated that the capital cost required to develop the Petaquilla project would be US $3.5 billion (including a contingency of $515 million but not working capital or escalation) .<ref> http://www.inmetmining.com/ouroperations/pre-development/Petaquilla/default.aspx
</ref>
==Operating cost per pound==

Cash operating costs in years 1 to 10 of US $0.76 per pound of
copper produced.<ref>http://www.inmetmining.com/Theme/Inmet/files/pdf/2007_Petaquilla_Release_January_10pdf.pdf
</ref>

==Notes==

Open pit mine.

==External Analysis==
===A favorable tax regime===
'''1.''' Accelerated depreciation and depletion allowance.

'''2.''' Practically all supplies and equipment required by the project are exempt from import duties.

'''3.''' Exemption from all income taxes (except the mineral production royalty) until the retirement of all construction financing.

'''4.''' Tax will not be withheld on interest payments to foreign lenders or dividends to foreign shareholders.

'''5.''' Future changes in legislation that are inconsistent with Ley Petaquilla will not apply to the Owners.

'''6.''' The first phase in the Plan is the development of the Molejon Gold Deposit by PTQ commencing in 2006. The development of the world-class Petaquilla copper deposit is included in subsequent phases of the Plan, and will be the responsibility of Minera Petaquilla S.A., the joint venture company owned by PTQ, Teck and Inmet.<ref>http://findarticles.com/p/articles/mi_m0EIN/is_2005_Sept_26/ai_n15629946/pg_1
</ref>

===Investors flock to Panama===

The fast pace of economic growth is being fuelled by enormous infrastructure projects and the booming construction sector. Where once wealthy Latin Americans invested in Miami, they are now looking closer to home. Rich Venezuelans, Bolivians and Brazilians are flocking to Panama, buying up property and starting businesses away from the political upheavals and endemic violence in their homelands. Europeans and in particular the Spanish, are taking advantage of the strength of the Euro and piling into the region. The main reason that the construction industry is breaking all
records in the current boom is the demand for property that is coming from North America The stable political climate long aligned towards the U.S. has proven attractive to investors, and the policy is now paying off. Adding to the growth expected from the Canal expansion, the country is set to profit from a world class mining operation coming online in 2007 in the Petaquilla region, as well as from the influx of foreigners as tourists and retirees. In the capital, a major investment project is focused on improving transport links, cleaning the bay and providing large swathes of green space for residents and visitors alike. Benjamin Colomarco, Minister of Public Works, expects that the project will be underway by 2009, complementing the Mass Transit System project which starts this year aimed at alleviating the chronic congestion that the capital suffers from. “All foreign investors have the same opportunities as domestic companies… everyone operates under the same rules. Panama is going to be a true center of attraction for investors,” asserts Colomarco.
With the determination of the Government to address existing problems at the same time as maintaining Latin America’s highest GDP growth rates, the future for Panama, its citizens and investors, is looking very good indeed.

===Stability and security===

'''A.''' Political and economic stability is everything. Here we have security in the legal system, in the physical aspects of life and good medical facilities like the John Hopkins [in Panama City]. As for crime, you can’t compare us to Columbia or Mexico or any other country. We don’t have institutionalized criminal actions, least of all against foreigners.<ref>http://200.46.42.28/articles/CQ_WEEKLY_PANAMA_PETAQUILLA_22JAN07.pdf
</ref>

'''B.''' Petaquilla, together with the Government of Panama, is committed to bringing the best of modern practices and philosophies to its operations. Petaquilla will make positive improvements to the environment. Jaime Roquebert is sensitive to the negative press mining companies
receive. “It isn’t easy to convince people, there will always be detractors. The fact
is that the environment is getting worse with a subsistence economy, therefore a
mining project is a blessing.” The Panamanian government has been an early supporter of the Petaquilla Project.<ref>http://200.46.42.28/articles/CQ_WEEKLY_PANAMA_PETAQUILLA_22JAN07.pdf
</ref>

'''C.''' In the 1990s, growth had been running at 4% with low inflation, however it fell from 2.5% in 2000 to only 0.3% in 2001 and about 0.8% in 2002. Growth picked up again in 2003 to 4.1% and jumped to 6% in 2004, due partly to a one-off tax break aimed at investors in housing construction. Under Torrijos Panama is enjoying something of a boom; growth was 8.1% in 2006 and, according to some estimates, could exceed 10% in 2007.<ref>http://www.lowtax.net/lowtax/html/jpacfir.html
</ref>

===Panama Business Environment===
In terms of business and communications infrastructure, the long-term US influence on Panama has been very beneficial, Panama City in particular having the highest international standards. The well-established banking sector, however doubtful some of its antecedents, has also demanded high standards.<ref> http://www.lowtax.net/lowtax/html/jpacfir.html
</ref>
===Panama Import of Foreign Capital ===
There are no exchange controls in Panama and there is no Central Bank. Foreign investment is welcomed, and may be freely repatriated.<ref> http://www.lowtax.net/lowtax/html/jpacfir.html
</ref>

Marcona

Data — Sun, 01 Jun 2008 07:58:36 GMT

Summary: New page: ==Brief Overview== In 1994, Rio Tinto commenced exploration in Peru for iron oxide-associated copper-gold and the same year discovered the Pampa de Pongo deposit. In December 2000, Rio Ti...

==Brief Overview==

In 1994, Rio Tinto commenced exploration in Peru for iron oxide-associated copper-gold and the same year discovered the Pampa de Pongo deposit. In December 2000, Rio Tinto formed a JV Agreement with Shougang Hierro Peru to explore for copper in the Marcona district and, in 2003, reported discovery of significant oxide and sulphide copper resources close to the Marcona mine. Most of the iron deposits in the district contain some copper, gold and silver.<ref> http://www.cardero.com/i/pdf/IOCG-Tim_Moody_RIO_TINTO.pdf
</ref>

==Location==

Located approximately 400 km south of Lima, Marcona is the largest known iron deposit in the Pacific coastal belt of South America. Iron mining commenced at Marcona in 1953, and the mine is operated today by Shougang Hierro Peru. <ref> http://www.cardero.com/i/pdf/IOCG-Tim_Moody_RIO_TINTO.pdf
</ref>

==Ownership==

* Marcona mine is owned by Shougang Hierro-Peru. <ref>http://www.ame.com.au/Mines%5CFe/Marcona.htm
</ref>

* Korea Resources Corp. & LS-Nikko Copper Inc.

* Korea Resources (Korean Government) / LS-Nikko (LG
Electronics) owns largest copper smelter in South Korea

* Partners together own 30% of Marcona Copper Project

* Contribute 30% of acquisition, exploration and development

* LS Nikko has right to purchase majority of output for 10 years
on market terms.

* 70% of cathode + 90% of concentrate production<ref>http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

== Production Start Date==

* Start-up 2009. <ref>http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

==Deposit size==

With a 0.3% copper cutoff, Mina Justa -- the most defined and largest known deposit at Marcona -- has an indicated resource of 347 million tonnes grading 0.71% copper for 5.4 billion lbs. copper, and an inferred 128 million tonnes grading 0.6% copper for 1.7 billion lbs.
<ref> http://www.chariotresources.com/docs/CHD_Northern%20Miner.pdf
</ref>

==Operating cost per pound==

Up to 2.5 Billion lbs. <ref> http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

==Capital Cost==

Under US$180M Capex. <ref> http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

==Process==

'''2006'''

* feasibility / EIA studies starts

* mezzanine financing option

* drilling of other potential targets (2006 . 2008)

* Initial permit applications

* feasibility / EIS studies completed

'''2007'''

* government approval and permits secured

* construction financing

* start engineering, construction

'''2008'''

* complete construction

* commissioning

'''2009'''

* first copper . March 2009. <ref> http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

==External Analysis==

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''GDP (purchasing power parity)'''
| align="center" style="background:#f0f0f0;"|'''$13.86 trillion (2007 est.)'''
|-
| GDP (official exchange rate):||$13.79 trillion (2007 est.)
|-
| GDP - real growth rate:||2.2% (2007 est.)
|-
| GDP - per capita (PPP):||$46,000 (2007 est.)
|-
| GDP - composition by sector:||agriculture: 0.9%
|-
| ||industry: 20.6%
|-
| ||services: 78.5% (2007 est.)
|-
| ||
|-
| Unemployment rate:||4.6% (2007 est.)
|-
| Population below poverty line:||12% (2004 est.)
|-
| Inflation rate (consumer prices):||2.7% (2007 est.)
|-
| Investment (gross fixed):||15.6% of GDP (2007 est.)
|-
| Budget:||revenues: $2.568 trillion
|-
| ||expenditures: $2.731 trillion (2007 est.)
|-
| Public debt:||36.8% of GDP (2007 est.)
|-
| Industrial production growth rate:||0.5% (2007 est.)
|-
| Oil - production:||8.322 million bbl/day (2005 est.)
|-
| Oil - consumption:||20.8 million bbl/day (2005 est.)
|-
| Oil - exports:||1.048 million bbl/day (2004)
|-
| Oil - imports:||13.15 million bbl/day (2004)
|-
| Oil - proved reserves:||
|-
| ||21.76 billion bbl (1 January 2006 est.)
|-
| Natural gas - production:||490.8 billion cu m (2005 est.)
|-
| Natural gas - consumption:||604 billion cu m (2005 est.)
|-
| Natural gas - exports:||19.8 billion cu m (2005 est.)
|-
| Natural gas - imports:||
|-
| ||117.9 billion cu m (2005)
|-
| Natural gas - proved reserves:||
|-
| ||5.551 trillion cu m (1 January 2006 est.)
|-
| Current account balance:||-$747.1 billion (2007 est.)
|-
| Economic aid - donor:||ODA, $23.53 billion (2006)
|-
| Reserves of foreign exchange and gold:||$65.89 billion (2006 est.)
|-
| Debt - external:||$12.25 trillion (30 June 2007)
|-
| Stock of direct foreign investment - at home:||$1.818 trillion (2006 est.)
|-
| Stock of direct foreign investment - abroad:||$2.306 trillion (2006 est.)
|-
| Market value of publicly traded shares:||$17 trillion (2005)
|-
| Currency (code):||US dollar (USD)
|-
|
|}

<ref> https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
</ref>

==Notes==

* Low cost SX-EW & Concentrate Production

* Open pit mine. (oxides & sulphides)

* Unsurpassed Infrastructure

1. Within 25km of Project:

2. Paved highway (Pan American)

3. National Power Grid

4. Skilled Labour

5. Water Source

Deep Water Sea Ports<ref>http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

* Ideal Mining Location

1. Low elevation

2. Flat, sparsely vegetated terrain

3. No archaeological issues

4. No nearby farming communities - surface rights owned by vendor and Government of Peru

5. No nearby parks or environmentally sensitive areas. <ref>http://www.minem.gob.pe/archivos/dgm/inversiones/exposiciones/PDAC_EXPOS_2006/PDAC%202006%20Chariot.pdf
</ref>

Pebble

Data — Sun, 01 Jun 2008 07:41:54 GMT

Summary: New page: ==Brief Overview== Cominco, a predecessor of Teck Cominco, discovered the Pebble West deposit in 1988 and explored the property to 1997. In November 2001, Northern Dynasty entered into ...

==Brief Overview==

Cominco, a predecessor of Teck Cominco, discovered the Pebble West deposit in 1988 and explored the property to 1997.

In November 2001, Northern Dynasty entered into agreements to purchase the property and by 2005 had completed the exercise of its options, acquiring 100% of the property.

Northern Dynasty carried out property-wide exploration programs in 2002. Drilling in 2003-2004 expanded the Pebble West deposit to 4.1 billion tonnes and upgraded 75% of its resources to Measured and Indicated classifications. In late 2005, the world-class Pebble East deposit was discovered. Pebble East is a substantial, high volume, underground mine opportunity. In 2006, delineation drilling and numerous engineering, environmental and socioeconomic studies were initiated and are ongoing in 2008. These studies are designed to provide the information necessary for an optimum development plan, which integrates the extensive mineral resources in Pebble East and Pebble West.<ref> http://www.northerndynastyminerals.com/ndm/Pebble.asp </ref>

==Location==

The proposed Pebble Mine will be located on state of Alaska lands, not lands owned by Bristol Bay Native Corporation.<ref> http://www.stoppebblemine.com/
</ref>

==Ownership==

In January 2007, an affiliate of Rio Tinto plc endorsed the Pebble Project by acquiring a 19.8% threshold shareholding in Northern Dynasty. In July 2007, a Northern Dynasty affiliate and a subsidiary of Anglo American plc established a 50:50 partnership, operated by the Pebble Partnership, to advance the Pebble Project to production.<ref> http://www.northerndynastyminerals.com/ndm/Pebble.asp </ref>

==Production per annum==

== Production Start Date==
Operations could begin as soon as 2015.<ref> http://www.northerndynastyminerals.com/ndm/Pebble.asp
</ref>

==Deposit size==

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''Cut-Off'''
| align="center" style="background:#f0f0f0;"|'''Size'''
| align="center" style="background:#f0f0f0;"|'''Grade'''
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|'''Contained Metal6'''
| align="center" style="background:#f0f0f0;"|''''''
| align="center" style="background:#f0f0f0;"|''''''
|-
| CuEQ||Million||Copper||Gold ||Molybdenum %||CuEQ ||Copper ||Gold||Molybdenum
|-
| %||Tonnes||%||g/t||||%||B lbs||M oz||B lb
|-
| Inferred Resources ||||||||||||||||
|-
| 0.6||3,860||0.58||0.36||0.033||0.99||49||45||2.8
|-
| 1||1,520||0.82||0.49||0.035||1.32||27||24||1.2
|-
|
|} <ref> http://www.northerndynastyminerals.com/ndm/Pebble.asp
</ref>

==Operating cost per pound==

==Capital Cost==

==External Analysis==
When the Pebble Project is fully planned, Pebble Mines expects to make an application for an Environmental Impact Statement (EIS) -- a requirement under the National Environmental Policy Act -- which will serves as a central document for an open, transparent, public and government review of the project. The EIS will comprehensively and rigorously define the environmental and social aspects of the project.
Following development of the EIS, the Pebble Partnership will apply for permits from relevant Federal and State government agencies to build and operate a mine a Pebble.
The Pebble Partnership is working to maximize the benefits to local communities through local purchase, local hire, and workforce training and development programs as well as other community initiatives.<ref> http://www.northerndynastyminerals.com/ndm/Pebble.asp
</ref>
===Political Segment ===

====Disputes – international====

* Stop Pebble Mine is a group of individuals that have a stake in the Bristol Bay Region that want to preserve the pristine beauty and vast wilderness where the proposed Pebble Mine is to be placed.<ref>http://www.stoppebblemine.com/</ref>

* The profits from the development of the mine will not profit Native Corporations in a way that profits from the development of Red Dog mine are profiting NANA Regional Corporation and other Alaska Native corporations through 7i profit sharing.

* The only benefits to Alaska Native shareholders statewide will be potiential jobs that will be created. Not like the millions of dollars will be shared by Red Dog Mine and the potential Donlin Creek mine in the Calista region.

* The tax rate for mining in Alaska is so low that there will be little benefit to residents of Alaska.

* Jobs is the main selling point of the mine development. I can tell you I don't plan on quiting my job to take a mine job. There are many good jobs on the slope. How many of those are held by people living in Barrow?

====Opposition====

The list of people and companies that oppose the Pebble Mine.

1. William A. Johnson

" William A. Johnson eagle_ii@hotmail.com

2. Sally Gumlickpuk!

3. Cynthia D. Olson
Tamara Fields
Alaska Resident; Biologist

4. Kevin Church
It is no longer acceptable to extract natural resources for the benefit of a few in locations that are priceless. The entire world knows better

5. Adam Mason
Des Moines, IA

6. Shannon DiRuzzo
Anchorage, AK

Please stop the Pebble Mine and learn from the past mistakes made in mining. It can never be restored to it's original state and there is always more degradation then expected.

7. Ben Walsmith

8. Kristen Thibodo
Boise, ID
This is a disgrace.

9. Matt Christian
Sun Valley, ID
Stop the mine!

10. David Tessler
Girdwood, AK
Stacy Starr
Helena, Montana

11. Lena Krutikov
Fairbanks, AK

12. Bill O'Connell
Worked around Iliamna in the past, former commercial fisherman
Gold runs out, so do the jobs that go with it. Salmon has provided a lielihood for Alaskans for thousands of years. No gold is worth risking that

13. James Montesi
Anchorage, AK.<ref> http://www.stoppebblemine.com/.</ref>

===Economic Segment===

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''GDP (purchasing power parity)'''
| align="center" style="background:#f0f0f0;"|'''$13.86 trillion (2007 est.)'''
|-
| GDP (official exchange rate):||$13.79 trillion (2007 est.)
|-
| GDP - real growth rate:||2.2% (2007 est.)
|-
| GDP - per capita (PPP):||$46,000 (2007 est.)
|-
| GDP - composition by sector:||agriculture: 0.9%
|-
| ||industry: 20.6%
|-
| ||services: 78.5% (2007 est.)
|-
| ||
|-
| Unemployment rate:||4.6% (2007 est.)
|-
| Population below poverty line:||12% (2004 est.)
|-
| Inflation rate (consumer prices):||2.7% (2007 est.)
|-
| Investment (gross fixed):||15.6% of GDP (2007 est.)
|-
| Budget:||revenues: $2.568 trillion
|-
| ||expenditures: $2.731 trillion (2007 est.)
|-
| Public debt:||36.8% of GDP (2007 est.)
|-
| Industrial production growth rate:||0.5% (2007 est.)
|-
| Oil - production:||8.322 million bbl/day (2005 est.)
|-
| Oil - consumption:||20.8 million bbl/day (2005 est.)
|-
| Oil - exports:||1.048 million bbl/day (2004)
|-
| Oil - imports:||13.15 million bbl/day (2004)
|-
| Oil - proved reserves:||
|-
| ||21.76 billion bbl (1 January 2006 est.)
|-
| Natural gas - production:||490.8 billion cu m (2005 est.)
|-
| Natural gas - consumption:||604 billion cu m (2005 est.)
|-
| Natural gas - exports:||19.8 billion cu m (2005 est.)
|-
| Natural gas - imports:||
|-
| ||117.9 billion cu m (2005)
|-
| Natural gas - proved reserves:||
|-
| ||5.551 trillion cu m (1 January 2006 est.)
|-
| Current account balance:||-$747.1 billion (2007 est.)
|-
| Economic aid - donor:||ODA, $23.53 billion (2006)
|-
| Reserves of foreign exchange and gold:||$65.89 billion (2006 est.)
|-
| Debt - external:||$12.25 trillion (30 June 2007)
|-
| Stock of direct foreign investment - at home:||$1.818 trillion (2006 est.)
|-
| Stock of direct foreign investment - abroad:||$2.306 trillion (2006 est.)
|-
| Market value of publicly traded shares:||$17 trillion (2005)
|-
| Currency (code):||US dollar (USD)
|-
|
|}

<ref>https://www.cia.gov/library/publications/the-world-factbook/geos/us.html</ref>

==Notes==

All aspects of the development are being assessed, including underground and open pit mineral resources and road, power and port options

Oyu Tolgoi

Data — Wed, 28 May 2008 15:54:30 GMT

Summary:

==Brief overview==
Oyu Tolgoi, also known as Turquoise Hill, gold and copper project is located in the south Gobi region of Mongolia. The property ranges in elevation from 1,140 m to 1,215 m above sea level and has a relatively flat undulating topography with less than 50 m of relief. It is located on a desert steppe with desert vegetation and consists of gravel covered plains, with low hills along its northern and eastern borders.<ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp</ref>
==Location==

In the south Gobi region of Mongolia, approximately 550 km due south of Ulaanbaatar and 80 km north of the Chinese-Mongolian border.<ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp</ref>

==Ownership==

Ivanhoe Mines owns the world's largest copper-gold porphyry development project<ref> http://www.ivanhoe-mines.com/s/FactSheet.asp
</ref>

==Production per annum==

Oyu Tolgoi Mine will be capable of average annual production in excess of one billion pounds of copper and 330,000 ounces of gold for at least 35 years. Peak annual production in excess of 1.6 billion pounds of copper and 900,000 ounces of gold is projected to be reached six years after initial production begins (Year 6). <ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp</ref>

==Production Start Date==

Oyu Tolgoi could commence commercial production in the first half of 2010. <ref> http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=22737&sn=Detai </ref>
l

==Deposit size==

Property is reported as follows:
The estimate includes indicated resources of 117,000,000 tonnes grading 1.8% copper and 0.61 g/t
gold and inferred resources of 95,500,000 tonnes grading 1.15% copper and 0.31 g/t gold at a
0.6% cut-off grade on the Hugo North Extension<ref> http://www.ivanhoe-mines.com/i/pdf/Oyu_Tolgoi_Mineral_Reserves_March_2007.pdf
</ref>

==Operating cost per pound==

Cash costs at the mine gate (excluding realization costs) are estimated at $0.26/lb. <ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp
</ref>
The engineering assessment of initial capital required to fund the open-pit mine $1.15 billion

==External Analysis==
===Political Segment===
the Mongolian Parliament has earned a reputation for occasionally using foreign mining investment and Oyu Tolgoi as political targets. Earlier this year Mongolia's Industry and Trade Minister Bazarsad Jargaksuakhan declared that if foreign mining companies are unhappy with government participation in mining projects, they could leave the country. <ref> http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=22737&sn=Detai</ref>

====Challenges in the Mining Sector====

Mongolia’s mining sector has the potential to contribute significantly to economic growth and to provide revenues to help address the poverty alleviation and development challenges noted above. Indeed, Mongolia is on the verge of a major minerals investment boom with final approvals and negotiations presently taking place for investments in excess of US$5 billion. However, this raises the challenges of sound overall macroeconomic management in the face of volatile commodity prices and risks of “Dutch disease”. The existing industry has greatly benefited from the world commodities price boom which is now in its third year, and is likely to be sustained for some time to come. Meanwhile, tax revenues have not increased as anticipated due to a variety of reasons including, significant under-pricing of coal exports for tax avoidance purposes. In fact, some companies are reporting coal sales export prices that are a small fraction of prevailing world market prices while other mining companies are simply holding back from selling their gold production to the Central Bank (which is required by Mongolian law) and borrowing against them as collateral. With the lack of clarity in intergovernmental fiscal arrangements, there is a mis-match of revenue and spending authority at the sub-national levels of Government. As a result, sub-national governments (aimags and soums) lack adequate funds to deal with the increasing pressure for basic service delivery and essential infrastructure as mining developments take place. In addition, there are gaps in environmental protection regulations and no provision for mandatory social impact assessments. The state is planning to take an equity participation in new “strategic” mining projects but lacks a guiding policy.

====Governance Context====

According to Transparency International and the World Bank’s Governance Indicators, perceptions of corruption in Mongolia have worsened substantially since 2001, and perceptions of corruption as an obstacle to growth are more widespread in Mongolia than in a number of comparator countries. The 2006 World Bank Investment Climate Survey results suggest that corruption in Mongolia may be a symptom of rising inequalities, stemming from perceptions of lack of transparency and accountability in the public sector. The survey results indicate that unofficial payments required for obtaining exploration and mining licenses were high, and estimated at around 40 percent of the official fees. Twenty-six percent of firms reported being required to pay bribes to obtain access to electricity, water, and/or communications infrastructure. Mongolia’s ranking in the latest World Bank Governance Indicators (2008) has also fallen relative to other countries as compared to 2007 rankings. Mongolia is one of the twenty-six Country Governance and Anti-Corruption (CGAC) pilot countries in the World Bank.

====Potential Macroeconomic Impacts====

The pending development of Oyu Tolgoi and Tavan Tolgoi, both world class deposits located in the South Gobi, present the State with particular challenges. These developments will likely increase Mongolia’s mineral exports to over 90 percent of total exports, and tax receipts from the mining industry will likely exceed 50 percent of total tax receipts. In addition, these large new mining exports will also create large balance of payments surpluses which are likely to impact on the value of the Mongolian Tugrug which will need to be carefully managed. Recent engagement with the Government on the potential mining investment boom in Mongolia has primarily been on issues of policy and investment climate, and it is clear that the Government needs urgent assistance to manage the macro economic and physical development impacts of mining and to ensure that economic growth remains stable and the sector is effectively managed and monitored.

'''Macroeconomic Management, Policy Development and Economic Risk Mitigation: '''

* Lack of a clear policy framework for managing mining revenues, associated risks from commodity price volatility, and their macroeconomic impacts;

* Lack of instruments to smooth revenue flows to the budget through upswings and downturns of commodity price cycles;

* Lack of effective and transparent process for mineral related revenue sharing between central government, aimags (districts), and soums (local level government);

* Lack of a set of consistent mining sector policies, fiscal framework, and deficiencies in mineral tax legislation;

* Missed opportunities for revenue collection from existing mining operations;

* Risk of companies engaging in speculative rather than productive activities;

* Fragmented and overlapping institutional framework for mining sector management;

* Lack of a State mineral investment policy and model investment agreements.

* Incomplete development of the Government holding company to manage state equity holdings;

*Lack of independent sector policy analysis and civil society consultation and engagement.

'''Regulation, Control, and Environmental and Social Risk Mitigation: '''

* Incomplete mining sector regulatory and policy frameworks to ensure that the large scale mining industry can be licensed, administered, and regulated in a fully effective manner;

* Absence of an ASM regulatory framework so that ASM activities can become formalized and the widespread use of unsafe and environmentally damaging ASM mining practices can be reduced through both regulatory requirements and outreach activities;

* Lack of standard procedures and guidelines that would ensure developers in the sector utilize best practices to address the occupational health and safety, environmental and social dimensions of mining;

* Lack of modern company reporting requirements

* Lack of institutional capacities in the area of mining licensing, environmental protection, safety, and technical audit and compliance enforcement;

* Lack of transparency and accountability in the management of mining and exploration licenses;

* Outdated classification of mineral reserve and resource data;

*Underdeveloped digital geological information systems for investors to use, which currently cover a very limited range of information types.

===Strategic Environmental and Social Assessment===

The Bank has conducted an overall review of the status of environmental and social issues, and policies in the mining sector to identify institutional and regulatory gaps that should be addressed to strengthen existing compliance monitoring with regulations, and to investigate whether additional resources and standardized procedures might be needed to mitigate any identified risks. Based on the findings of the completed review, in the context of the Project particular attention will be given to (i) institutional strengthening actions to deal with environmental and social impacts associated with the growth and development of the mining sector (including artisanal and small scale mining); (ii) measures to overcome existing and projected policy, institutional and budgetary constraints that result in limited enforcement and implementation capacity; and (iii) ways to improve public participation and monitoring processes. In addition, the Project will benefit from the findings of a Strategic Environmental and Social Assessment (SESA) for the Southern Gobi Region; this exercise will be conducted to help frame a vision for a sustainable natural resources management in the context of the planned mining developments in the region. During Project implementation further consultation will take place with NGOs, landowners, and industry representatives regarding mining sector environmental and social issues.

===List of Factual Technical Documents===

Millennium Development Goals-Based Comprehensive National Development Strategy of Mongolia
Mongolia Minerals Law 2006 & 1997
Mongolia: The Fiscal Regime for the Mining Sector and the Development Fund (IMF)
Fraser Institute Annual Survey of Mining Companies 2005/2006 (Fraser Institute)
Mongolia Mining Sector: Managing the Future (World Bank)
Mongolia: Sources of Growth - Country Economic Memorandum (World Bank)<ref>
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/05/04/000076092_20080505163739/Original/Project0Inform1Appraisal0Stage1ab12.doc</ref>

'''Outlook: Robust growth expected to continue through 2008'''

Growth in Emerging East Asia is expected to reach
8.4 percent in 2007, slightly up from 2006. This is about a
percentage point higher than our projection last April, an
6 Exports include Hong Kong, Korea, Malaysia, Philippines,
Singapore, Taiwan (China) and Thailand. Production includes the
the course of the decade in most of the larger East Asian
economies, thanks to fiscal consolidation efforts and
sustained economic growth since 2001. Except for the
Philippines, central government debt levels are now
generally less than 50 percent of GDP, leaving room for
greater public spending, should circumstances require.
<ref> http://www.eapirf.org/MenuItems/Resources/Papers/General/Full-Report-EAP-Update-Nov2007.pdf
</ref>

<ref> http://www.eapirf.org/MenuItems/Resources/Papers/General/Full-Report-EAP-Update-Nov2007.pdf
</ref>

==Notes==

Open-pit mine.<ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp</ref>

Road access to the property follows a well-defined track directly south from Ulaanbaatar requiring 12 hours of travel time. An airstrip capable of accommodating small aircrafts is located on site. The Trans-Mongolian Railway that links Mongolia to Russia and China lies 360 km east of the property. The Trans-China Rail line following the Yellow River is approximately 160 km south of the border. <ref>http://www.ivanhoe-mines.com/s/OyuTolgoi.asp
</ref>

==External References==
<references />

El Abra

Data — Wed, 28 May 2008 14:53:31 GMT

Summary: /* Notes */

==Brief Overview==

El Abra holds mining concessions over more than 13,352 ha of land
located in the Antofagasta region of Northern Chile, approximately
1,650 km north of Santiago. El Abra controls a total of 44,614 ha
of mining claims covering the ore deposit, stockpiles, process plant,
and water wellfield and pipeline. In addition, El Abra has acquired
surface rights for the plant-mine access road, the wellfield, power
transmission line, and for the water pipeline from the Salar de Ascotán.
Acquisition of all additional surface area required for the future
development of the sulfide project is in process.<ref>http://www.infomine.com/companies-properties/infodbweb/ChargePropertySummary.asp?SearchID=24609</ref>

==Location==

Copper mine 40km N of Chuquicamata, II Region, Chile. Porphyry coper with hypogene enrichment and oxidation zone.<ref> http://www.mindat.org/loc-39275.html</ref>

==Ownership==

A joint venture, El Abra is 51 per cent owned by Cyprus Amax and 49 per cent owned by Corporacion Nacional del Cobre de Chile (CODELCO), the Chilean national copper company.<ref>http://www.prnewswire.co.uk/cgi/news/release?id=38669</ref>
Codelco, based in Santiago, Chile, is the world's largest copper producer with approximately 12 per cent of world production.<ref>http://www.prnewswire.co.uk/cgi/news/release?id=38669</ref>

==Production per annum==

225,000 tonnes of copper metal per year.<ref>http://www.mindat.org/loc-39275.html</ref>

== Production Start Date==

El Abra is expected a begining in 2010.<ref>http://www.infomine.com/companies-properties/infodbweb/ChargePropertySummary.asp?SearchID=24609</ref>

==Deposit size==

Domain: Inferred resource 50.3Mt at 4% Pb, 0.2% Zn, 0.1% Cu, and 10g/tAg􀁺Copper-Gold Domain: 9.8Mt at 0.2%Pb, 0.6%Cu, 0.5g/tAu, and 2g/tAg<ref>http://www.jogmec.go.jp/mric_web/koenkai/070228/breifing_070228_3.pdf</ref>

==Operating cost per pound==

Approximate $0.85 per pound of copper.<ref>http://goliath.ecnext.com/coms2/gi_0199-6475173/Freeport-McMoRan-Copper-Gold-Inc.html</ref>
==Capital Cost==
Total initial capital for the project is approximately $350 million<ref>http://findarticles.com/p/articles/mi_qa5382/is_200706/ai_n21291161</ref>
==Notes==

The El Abra operation consists of an open-pit copper minehttp://www.infomine.com/companies-properties/infodbweb/ChargePropertySummary.asp?SearchID=24609

El Abra is expected to shift from an oxide-leach, on-off pad operation to a bornite-dominant, sulfide-leach operation, where ore will be leached on a permanent
pad.<ref>http://www.infomine.com/companies-properties/infodbweb/ChargePropertySummary.asp?SearchID=24609</ref>

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''CHILE (% Changes)'''
| align="center" style="background:#f0f0f0;"|'''Q1 2007 (SAQR*)'''
| align="center" style="background:#f0f0f0;"|'''Q4 2006 (SAQR*)'''
| align="center" style="background:#f0f0f0;"|'''Q3 2006 (SAQR*)'''
| align="center" style="background:#f0f0f0;"|'''Year/Year'''
| align="center" style="background:#f0f0f0;"|'''2006'''
| align="center" style="background:#f0f0f0;"|'''2005'''
| align="center" style="background:#f0f0f0;"|'''2004'''
|-
| ||||||||||||||
|-
| Real GDP||3||2||-0.3||5.8||4||5.7||6
|-
| Copper Industry||5.3||6.7||-4.5||7.1||0.1||-2.5||4.5
|-
|
|}<ref>http://www.haver.com/comment/070523x.htm
</ref>

==External Analysis==
Chile central bank cuts 08 GDP growth estimate to 4.5%-5.5%

The Chilean central bank Wednesday cut its outlook for gross domestic product growth this year to 4.5%-5.5% with a downside risk, from a previous 5%-6% estimate. For 2007, the central bank said it expects GDP growth to come in at 5.2%, well below the 5.75%-6.25% range the bank had estimated in September.

In its four-month monetary policy report, or Ipom, delivered to Congress Wednesday morning, the central bank said the slower growth was due to a less favorable international economic scenario, as well as lower domestic consumption, industrial and mining output.

Domestic demand will likely grow 6.2% on the year in 2008, below the 8.1% increase it posted last year, according to the Ipom.

Decreased domestic consumption is the result of unusually high inflation, the bank said. In 2007, inflation reached 7.8% and for 2008 the bank increased its inflation outlook to 4.5% from a previous 3.1% estimate. The upward revision was a result of higher fuel prices and rising electricity rates. For 2009, inflation should begin to converge toward the bank's target of 3%, plus or minus one percentage point, the bank said.

For 2008, the scenario for exporters will be less favorable as commodity prices and demands for these goods will likely begin to fall, the bank said. Chile is the world's largest copper producer, and mining exports represent about 20% of the country's GDP.

The central bank expects copper prices to average $2.95 a pound this year, below the $3.23 the metal fetched last year.

The trade balance surplus will total $16.4 billion this year, well below the $24.5 billion surplus posted in 2007, as a result decelerating exports, the bank said.

Amid slower exports, the current account will post a deficit of 0.5% of GDP, versus a 3.8% of GDP surplus in 2007.

Source: fxstreet.com<ref>http://www.freshplaza.com/news_detail.asp?id=14652
</ref>

==External References==
<references />

Miheevskoye

Data — Wed, 28 May 2008 13:58:53 GMT

Summary:

==Brief Overview==

The Miheevskoye porphyry Copper/Gold deposit has a JORC
resource of 426.6 Mt at 0.37% copper, containing 1.58 million
tonnes of copper and 1.32 million ounces of gold. In January 2007,
Celtic entered into a joint venture agreement with AGL Ltd, part
of the Russian ICT Group to develop the Miheevskoye deposit.
AGL have the right to earn up to 50%. Polymetal Engineering was
awarded a contract to prepare a bankable feasibility study (“BFS”)
by 2008. Meanwhile, AGL will undertake the work and pay all costs
to bring the project to BFS stage.

==Location==

The Miheevskoye copper project comprises part of the Chelyabinsk copper/gold project, located in the large South Urals copper/gold belt. The project is located 250km south of the town of Chelyabinsk,Russia.<ref> http://www.minesite.com/fileadmin/content/pdfs/Brokers_Reports_5/Celtic_Resources_-_Initiating_Coverage_-_July_9_2007.pdf </ref>

==Ownership==

In January 2007, Celtic announced a second a 50:50 joint venture agreement with Aime Global Limited (AGL), a company associated with the ICT Group of companies, for the development of the Miheevskoye project.<ref>http://www.minesite.com/fileadmin/content/pdfs/Brokers_Reports_5/Celtic_Resources_-_Initiating_Coverage_-_July_9_2007.pdf
</ref>

==Production per annum==

Eureka is undertaking a feasibility study for a 20Mt per annum mine. <ref> http://www.fox-davies.com/FDC_Eureka_Report_220605.pdf mine.
</ref>

== Production Start Date==

commencing in earnest in 4Q 08. <ref> http://www.minesite.com/fileadmin/content/pdfs/Brokers_Reports_5/Celtic_Resources_-_Initiating_Coverage_-_July_9_2007.pdf
</ref>

==Deposit size==

High grade starter pit of 45 Mt of ore, with greater than 0.7% copper equivalent, which can be mined in the initial years based on a copper price of US$0.90c/lb and a gold price of US$425/oz. Metallurgical test work positive, concentrate grades of 24-25% copper and 6-10g/t gold. <ref> http://www.celticresources.com/resources/upload/236/PDF/2005Annualreportandaccounts.pdf
</ref>

==Operating cost per pound==

Mine cash operating cost of US$0.39c/lb copper before credits. <ref> http://www.celticresources.com/resources/upload/236/PDF/2005Annualreportandaccounts.pdf
</ref>
===Capital Cost===
Capital cost estimated at US$342 for 26 Mt per annum concentrator. <ref>http://www.celticresources.com/resources/upload/236/PDF/2005Annualreportandaccounts.pdf
</ref>

==Notes==

The open pit is expanded from the starter pit to the final pit design. <ref>http://www.minesite.com/fileadmin/content/pdfs/Brokers_Reports_5/Celtic_Resources_-_Initiating_Coverage_-_July_9_2007.pdf
</ref>

==External Analysis==
===Risks===

Since all our modelling is in US dollars, the first risk is that the dollar will depreciate against the Tenge, the Kazakh currency. This would have a negative impact on profits. Secondly, there is the risk inherent with the Fox-Davies Capital commodity price assumptions. Our forecasts have assumed the expansion of the Shorskoye molybdenum mine, and the development of both the Miheevskoye and
Tominskoye copper porphyries. Neither of these mines has been committed to yet, so our assumptions on size, costs and timing could differ significantly from reality. <ref>http://www.minesite.com/fileadmin/content/pdfs/Brokers_Reports_5/Celtic_Resources_-_Initiating_Coverage_-_July_9_2007.pdf
</ref>

===Political Segment===

Political pressure groups and leaders is not applicable in the country. <ref> https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html
</ref>

Russia ended 2007 with its ninth straight year of growth, averaging 7% annually since the financial crisis of 1998. Although high oil prices and a relatively cheap ruble initially drove this growth, since 2003 consumer demand and, more recently, investment have played a significant role. Over the last six years, fixed capital investments have averaged real gains greater than 10% per year and personal incomes have achieved real gains more than 12% per year. During this time, poverty has declined steadily and the middle class has continued to expand. Russia has also improved its international financial position since the 1998 financial crisis. The federal budget has run surpluses since 2001 and ended 2007 with a surplus of about 3% of GDP.

Complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; defense industries including radar, missile production, and advanced electronic components, shipbuilding; road and rail transportation equipment; communications equipment; agricultural machinery, tractors, and construction equipment; electric power generating and transmitting equipment; medical and scientific instruments; consumer durables, textiles, foodstuffs, handicrafts

===Disputes – international===

China and Russia have demarcated the once disputed islands at the Amur and Ussuri confluence and in the Argun River in accordance with the 2004 Agreement, ending their centuries-long border disputes; the sovereignty dispute over the islands of Etorofu, Kunashiri, Shikotan, and the Habomai group, known in Japan as the "Northern Territories" and in Russia as the "Southern Kurils," occupied by the Soviet Union in 1945, now administered by Russia, and claimed by Japan, remains the primary sticking point to signing a peace treaty formally ending World War II hostilities. Kazakhstan and Russia boundary delimitation was ratified on November 2005 and field demarcation should commence in 2007; Russian Duma has not yet ratified 1990 Bering Sea Maritime Boundary Agreement with the US. <ref>https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html
</ref>

===Some Facts & Figures===

{| {{table}}
| align="center" style="background:#f0f0f0;"|'''Industrialproductiongrowthrate:'''
| align="center" style="background:#f0f0f0;"|'''6% (2007 est.)'''
|-
| Electricity - production:||1 trillion kWh (2007 est.)
|-
| Electricity - consumption:||985.2 billion kWh (2007 est.)
|-
| Electricity - exports:||18 billion kWh (2007)
|-
| Electricity - imports:||2.9 billion kWh (2007 est.)
|-
| Oil - production:||9.87 million bbl/day (2007)
|-
| Oil - consumption:||2.916 million bbl/day (2006)
|-
| Oil - exports:||5.08 million bbl/day (2007)
|-
| Oil - imports:||100,000 bbl/day (2005)
|-
| Oil - proved reserves:||60 billion bbl (1 January 2006 est.)
|-
| Natural gas - production:||656.2 billion cu m (2007 est.)
|-
| Natural gas - consumption:||610 billion cu m (2007 est.)
|-
| Natural gas - exports:||182 billion cu m (2007 est.)
|-
| Natural gas - imports:||37.5 billion cu m (2005)
|-
| Natural gas - proved reserves:||47.57 trillion cu m (1 January 2006)
|-
| Current account balance:||$74 billion (2007 est.)
|-
| Exports:||$365 billion (2007 est.)
|-
| Exports - commodities:||petroleum and petroleum products, natural gas, wood and wood products, metals, chemicals, and a wide variety of civilian and military manufactures
|-
| Exports - partners:||Netherlands 12.3%, Italy 8.6%, Germany 8.4%, China 5.4%, Ukraine 5.1%, Turkey 4.9%, Switzerland 4.1% (2006)
|-
| Imports:||$260.4 billion (2007 est.)
|-
| Imports - commodities:||machinery and equipment, consumer goods, medicines, meat, sugar, semifinished metal products
|-
| Imports - partners:||
|-
| ||Germany 13.9%, China 9.7%, Ukraine 7%, Japan 5.9%, South Korea 5.1%, US 4.8%, France 4.4%, Italy 4.3% (2006)
|-
| Economic aid - recipient:||$982.7 million in FY06 from US, including $847 million in non-proliferation subsidies
|-
| Reserves of foreign exchange and gold:||$470 billion (31 December 2007 est.)
|-
| Debt - external:||$384.8 billion (30 June 2007)
|-
| Stock of direct foreign investment - at home:||$271.6 billion (2006)
|-
| Stock of direct foreign investment - abroad:||$209.6 billion (2006)
|-
| Market value of publicly traded shares:||$1.322 trillion (2006)
|-
| Currency (code):||Russian ruble (RUB)
|-
| Exchange rates:||Russian rubles per US dollar - 25.659 (2007), 27.19 (2006), 28.284 (2005), 28.814 (2004), 30.692 (2003)
|-
|
|}

==External References==
<references />

Thorium

Admin — Tue, 27 May 2008 05:45:43 GMT

Summary: /* Ten Essential Facts about Thorium */

==Ten Essential Facts about Thorium==

1. Thorium is a naturally occurring, slightly radioactive metal, and it has been considered as an alternative nuclear fuel to uranium.

2. Unlike uranium, thorium is non-proliferative: The key advantage of the thorium fuel cycle is that it does NOT produce
plutonium and is non-proliferative for that reason.

3. The energy contained in one kilogram of thorium equals that of four thousand tons of coal.

4. The energy stored in the earth's thorium reserves is thought to be greater than that available from all other conventional
(fossil) and nuclear fuels combined.

5. Thorium is cheaper and more abundant than uranium (approx three times more abundant in the Earth's crust than all
forms of uranium combined).

6. The thorium fuel cycle produces less radioactive waste than uranium (1,000 to 10,000 times less than in conventional
reactors).

7. Unlike natural uranium where only the 0.7% sliver of isotope 235 is fissionable, thorium is fully used in the fuel cycle.

8. Unlike uranium, thorium can burn plutonium waste from traditional nuclear reactors with additional energy output.

9. Unlike uranium, thorium is not suitable for the production of weapons-grade materials.

10. Global reserves of thorium (India, Australia, Norway and the U.S. possess the largest reserves) could cover the world’s energy needs for thousands of years.<ref>http://www.thoriumpower.com/default2.asp?nav=technology_solutions&subnav=thorium101
</ref>

==External References==
<references />

A:OXR-20041216-Change of Director

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A:OXR-20050412-Gold Company of the Year

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A:OXR-20050415-Appendix 3B

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A:OXR-20050218-CAP Header Correction: Full Year Accounts

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A:OXR-20040604-Standard

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A:OXR-20041109-Oxiana to move to 100% of Prominent Hill

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A:OXR-20050503-Change of Director

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A:OXR-20040120-Rights Issue Presentation

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A:OXR-20050125-Fourth Quarter Activities Report

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A:OXR-20031001-Khanong Copper Project Update

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A:OXR-20030704-Appendix 3B - Exercise of Executive Share Options

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A:OXR-20050318-2004 Annual Report

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A:OXR-20040120-RIO

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A:OXR-20041213-AGG: AGG

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A:OXR-20040123-Replacement Open Briefing

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A:OXR-20040730-Second Quarter Cashflow Report

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A:OXR-20031031-Third Quarter Cashflow Report

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A:OXR-20040209-Thengkham copper prospect drilling results

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A:OXR-20040120-Disclosure Document - Renounceable Rights Issue

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A:OXR-20040908-To complete Sepon Copper Finance with ANZ

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A:OXR-20040226-Appendix 3B - Acq of Rio

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A:OXR-20030715-Change of Name

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A:OXR-20030829-Open Briefing Oxiana Ltd MD on Prominent Hill Deal

Admin — Fri, 23 May 2008 01:45:17 GMT

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A:OXR-20030523-Open Briefing

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A:OXR-20040402-Appendix 3B - Exercise of Executive Share Options

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A:OXR-20050509-Appendix 3B - Exercise of Executive Share Options

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A:MLB-20040304-AMP bottom line loss following exit from UK operations

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A:OXR-20050321-Resources

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A:OXR-20040928-Presentation to Denver Gold Forum by MD

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A:OXR-20040123-Open Briefing Oxiana Ltd MD on Rio Stake

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