Titanium is also part of the Blacksands attraction.
by Nityanand Jayaraman
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More than 5,000 people converged this month in the southern Indian state of Tamil Nadu to protest a deal that set the stage for the state government to appropriate almost 10,000 acres of land and hand it over to Tata Steel Corporation, a subsidiary of India’s largest conglomerate. The June 2007 agreement allows the giant company to mine ilmenite in Sathankulam, an agrarian pocket of India’s coastal countryside.
This ilmenite, when processed, yields titanium metal and titanium dioxide (TiO2), both extremely valuable products. But many locals are refusing to sell out of concern that the ilmenite mining operations and loss of land will destroy their traditional way of life and despoil the environment. At least 40 percent of the population — the landless and those engaged in household industries — depend on farming palmyra trees for subsistence or supplemental income.
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Categories: Consequences of seabed mining · Coorperations · Corperate power · General mining · Mining companies · Social consequences · UNstustainable growth
And in the tenth month of 2007, the bull market brings forth Iron Mountain Mining, Ltd. (ASX:IRM) and sends its shares up 300% in one day.
IRM was just one of many shares storming to new highs yesterday, as the ASX/200 made an all time intra-day high of 6,684. Iron Mountain announced high grade mineralisation at its Mt. Richardson iron project in West Australia. In its price-sensitive release to the ASX, the company said that “The Iron Mountain Prospect rock chip samples averaged 61.3% Iron (Fe) over two kilometers of strike.”
The company announced results from two-other drilling simples. Both indicated high-grade haematite iron mineralisation. Which is another way of saying….eureka! Except in this case, rather than finding real gold, Iron Mountain has found industrial gold…the raw material desired by Chinese steel mills.
And at the upper end of the share-market, Fortescue (ASX:FMG) and BHP (ASX:BHP) both continue their relentless climbs higher. Fortescue is now the 23rd largest company in Australia by market cap, despite the fact it has yet to deliver any product to customers or make a profit. The catalyst for yesterday’s 8% lurch higher was legal. BHP lost its appeal against a ruling that allows Fortescue access to BHP’s Mt. Newman railway line in the Pilbara.
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Categories: Uncategorized
