Investment Banks Moving To Neutral on Mining Stocks
At least for a few investment banks like JP Morgan Cazenove and Citigroup, the negative tides for mining stocks appear to shifting towards the positive as they have changed their views from bearish to neutral.
JP Morgan Cazenove is still taking a guarded position towards mining stocks but sees companies within the industry aggressively cutting costs which is one of the reasons why mining stocks rise.
Citi analysts stay negative in their short-term outlook of the sector except furthermore observe some positivity in mining stocks in six months.
“We believe that the large miners, such as Rio Tinto and BHP Billiton, are now reaching yield support as they are trading on higher yields than the market,” Citi said.
Eric Lemieux, mining analyst with Laurentian Bank Securities in Montreal, remains bullish on mining stocks, saying that the commodities super cycle has not ended and despite slowdowns in the economy, there is still strong metals consumption.
The hit that commodity prices and miners have taken in 2013 may not necessarily be a bad thing, he said.
“With this downturn, in the scope of things, I think it’s positive for the industry because we did have a period of micro inflation where costs had gone up tremendously in terms of labor and engineering firms; it just overheated,” Lemieux said. “This retreat and decline in commodity prices, although it hurts, there’s some positives here in terms of cost settling down.”
JP Morgan mentioned a bottoming out in Chinese commodity import volumes and Chinese commodity inventories coming off recent highs as a possible catalyst for stronger metals demand.
While it boils down to consumption and a need for commodities for Lemieux.
“If you look at what’s going on in Asia, even though there’s been a slowdown in China, they’re still consuming, they still have to modernize,” Lemieux said. “I have a sense that things will eventually bounce back up.
“I think the end game is that commodities have some way to go and I wouldn’t be neutral,” he added.
Showing posts with label Bulletin. Show all posts
Showing posts with label Bulletin. Show all posts
Sunday, 23 June 2013
Thursday, 9 May 2013
Khandeparkar Panel to Investigate More into Illegal Mining in Goa
Helping the government arrest illegalities and prepare a roadmap for future of mining industry in the state is the Goa government-appointed Justice R M S Khandeparkar committee on illegal mining. He has decided to probe further the illicit tapping of iron ore in Goa.
“The terms of reference of the Committee are very clear. They are not just restricted to findings of Justice M B Shah Committee….It also includes the assistance to the government to decide on future of proper mining in the state,” Khandeparkar said.
The Committee will not only go through the findings of Shah Commission, but will also probe several aspects which were left untouched by them he said.
“The Shah Commission has not been able to do many things because of absence of material on record,” the former High Court judge said.
“Whatever they have left out would also be investigated,” he said.
The state government had informed Khandeparkar Committee to investigate more into the findings of Justice M B Shah Commission. This has pegged illegal mining in the state to Rs 35,000 crore.
The claim of illegality was refused by the mine owners. These mine owners had stated that they were not given hearing as a part of natural justice.
Khandeparkar said that he has already approved the first draft of the notice which would be issued for the public asking them to come forward with any information regarding illegal mining in Goa.
He said that everyone would be heard during the course of the investigation by the Committee.
“Whoever wants to be heard would be heard,” he said responding to a question whether mine owners would be called for hearing.
Khandeparkar said the first meeting of the Committee is yet to be held as they are waiting for the infrastructure to be put in place.
“The Committee will decide how to go ahead with the investigations,” he said, adding that there is no deadline set for submitting the final report to the government.
The former High Court Judge, however, said that the committee will continue with its investigation but will wait for the final judgement from SC on the mining matter.
“For forming any final conclusion we should have proper respect for the judiciary (SC),” he said.
Tuesday, 7 May 2013
Making Progress with Biodiversity for Mining Rehabilitation
The pioneers in progressive mine rehabilitation is one of the greatest assets in departmentalizing mining stereotypes. Environmentally friendly procedures and more and more miscellaneous ecosystems are becoming the standard as companies regard local ecosystem rehabilitation as a part of the on-going mining process.
To better understand these progressive rehab techniques, here are some words from Idemitsu Australia Resources Corporate Sustainability and Environment Manager Dr. Jan Green and Parsons Brinckerhoff Team Manager, Alex Cockerill.
“There’s an increasing focus on establishing complex and diverse natural ecosystems as part of mine rehabilitation,” she says. “With progressive rehab, it takes a much shorter time after the mine closes before the original flora and fauna can take over naturally.”
Her existing project is a 6- to 7-year-old mine that will sooner or later go back to a box gum woodland with white box gum trees. She explains that one of the biggest challenges is keeping up with the mining as it happens.
A strict schedule of clearing between summer and autumn allows species, for example, to nest in the winter and raise young in the spring. Cockerill says the team salvages hollow logs and timber for the provision of supplementary fauna habitats within the rehabilitation, and collects the seeds of local species of plant from the adjoining forest for propagation in a nursery.
By means of local species, it provides them a better chance of growing for the reason that the topsoil is recreated with greater accurateness. Sequentially, local fauna, from invertebrates to birds and mammals, are attracted to familiar landscapes.
“With the progressive establishment of increasingly complex vegetation structure and diversity these ecosystems encourage more local species back onto the mine site,” Cockerill explains.
“It’s then supported by biodiversity monitoring to target measurable performance criteria throughout the life of the mine and rehab,” Dr. Green says.
Dr. Green believes progressive rehab should be the norm and there’s good reason for that.
“We are mining in a state forest and to rehabilitate progressively is part of the approval conditions,” she admits, “But progressive rehab is better in terms of the environment and community acceptance.”
Deserted mines and plateaued soil heaps are not natural and can take expanded time to renew because of erosion. But gradually rehabilitated mines have extra defiance to erosion. This is because spoil piles are benched with draining slopes and layered with mulch.
“Importantly, progressive rehabilitation limits the time the ecologically valuable topsoils are stockpiled”, Cockerill says. “Reusing these topsoils progressively will maximise the survival of soil biota and the potential natural regeneration from the forests, soil and seed bank.”
But the biggest challenge may be communication. It is difficult to fight misinformation, especially when it comes to mining and the environment explains Dr. Green. “The most important thing you can do is to engage with the local community, the regulators and interested groups to design and deliver a landscape that everyone has had the opportunity to discuss,” she says.
Monday, 22 April 2013
Mining and the Environment
http://blackhawk-mining.com/2013/04/23/mining-and-the-environment/
Even though we always say there could be such a thing as responsible mining, sadly, mining can often have distressing effects on the environment. Mining necessitates the use of many seriously harmful chemicals such as, Mercury, Cyanide, Sulfuric acid, Arsenic, and Methyl mercury. These can have acutely dangerous effects on water.
Because these chemicals are used the whole time of mining process, consequently these chemicals will seep into the ground. Because of the chemicals seeping underground the groundwater becomes polluted and even if pipes were used to dispose of the chemicals, the chemicals often leak from the pipes.
What is causing it to become more of a burden is that these chemicals are often disposed in close by bodies of water, thus causing water pollution. Moreover, when this happens worse part is, when the chemicals are released into the bodies of water, it frequently results in the loss of aquatic plants and animals. When run-off of the chemicals takes place above ground, it is harmful for nearby vegetation and plants.
Gold mining has equally devastating effects on water. The process that is required in mining gold has negative effects on water. River dredging is just one way which gold is mine.
River dredging is a method in which gravel and mud is suctioned from a specific part of the river. The gold will then be sifted out of this gravel and mud then the gravel and mud will be returned to the river.
Most of the time, the gravel and mud is returned to an area of the river that they did not originally come from. Making the natural flow of the river disturbed resulting to deaths of multiple fishes and plants in the river.
Water and land has no much of a difference when it comes to the consequences mining gives. The process of mining alone entails a large area of land is cleared. Mining means digging through the earth to find the minerals or substances for which they are seeking. Worst, mining often requires large-scale deforestation.
In addition, deforestation means loss of numerous types of animals, and wildlife. Besides deforestation, large areas of nearby vegetation must be cut and trimmed to clear a road for the mining workers to even reach the area that they are mining.
Recurrent deforestation of neighborhood areas can put the whole species at threat for becoming scarce, or shoddier, extinct. When vegetation is not detached through the procedure of mining, it dies because of land pollution from the chemicals. What’s more, when the chemicals soak into the soil, it makes the soil inappropriate for new plants to grow in it. No organisms can live in the polluted soil; it will die due to the pollution.
The process of mining results in a type of liquid waste in some occasions. Instead of being properly disposed, this liquid waste is sometimes disposed in the mining pits.
This frequently takes place in countries in which the mining policies are not as firm as other countries. When the pit becomes overflowing with this liquid waste, it turns into a sluggish and hazardous pool of liquid. It is hazardous because diseases normally develop in it.
Even though we always say there could be such a thing as responsible mining, sadly, mining can often have distressing effects on the environment. Mining necessitates the use of many seriously harmful chemicals such as, Mercury, Cyanide, Sulfuric acid, Arsenic, and Methyl mercury. These can have acutely dangerous effects on water.
Because these chemicals are used the whole time of mining process, consequently these chemicals will seep into the ground. Because of the chemicals seeping underground the groundwater becomes polluted and even if pipes were used to dispose of the chemicals, the chemicals often leak from the pipes.
What is causing it to become more of a burden is that these chemicals are often disposed in close by bodies of water, thus causing water pollution. Moreover, when this happens worse part is, when the chemicals are released into the bodies of water, it frequently results in the loss of aquatic plants and animals. When run-off of the chemicals takes place above ground, it is harmful for nearby vegetation and plants.
Gold mining has equally devastating effects on water. The process that is required in mining gold has negative effects on water. River dredging is just one way which gold is mine.
River dredging is a method in which gravel and mud is suctioned from a specific part of the river. The gold will then be sifted out of this gravel and mud then the gravel and mud will be returned to the river.
Most of the time, the gravel and mud is returned to an area of the river that they did not originally come from. Making the natural flow of the river disturbed resulting to deaths of multiple fishes and plants in the river.
Water and land has no much of a difference when it comes to the consequences mining gives. The process of mining alone entails a large area of land is cleared. Mining means digging through the earth to find the minerals or substances for which they are seeking. Worst, mining often requires large-scale deforestation.
In addition, deforestation means loss of numerous types of animals, and wildlife. Besides deforestation, large areas of nearby vegetation must be cut and trimmed to clear a road for the mining workers to even reach the area that they are mining.
Recurrent deforestation of neighborhood areas can put the whole species at threat for becoming scarce, or shoddier, extinct. When vegetation is not detached through the procedure of mining, it dies because of land pollution from the chemicals. What’s more, when the chemicals soak into the soil, it makes the soil inappropriate for new plants to grow in it. No organisms can live in the polluted soil; it will die due to the pollution.
The process of mining results in a type of liquid waste in some occasions. Instead of being properly disposed, this liquid waste is sometimes disposed in the mining pits.
This frequently takes place in countries in which the mining policies are not as firm as other countries. When the pit becomes overflowing with this liquid waste, it turns into a sluggish and hazardous pool of liquid. It is hazardous because diseases normally develop in it.
Tuesday, 8 January 2013
Walker Considers to Revise Mining Bill if it means More Jobs in Wisconsin
http://promotion.blackhawk-mining.com/2013/01/07/walker-considers-to-revise-mining-bill-if-it-means-more-jobs-in-wisconsin/
He would be willing to consider tweaks to last year’s stalled mining bill, as long as the new measure results in actual mining jobs in Wisconsin, says Gov. Scott Walker last Wednesday, Jan. 2, 2013. Walker also added that the goal of a new bill should be to create jobs. Any changes unrelated to that end would be unproductive. He told reporters after addressing employees at Phoenix Products Company Inc., a Milwaukee Company that makes heavy-duty lights for mining equipment, “We’re going to look to make a series of reasonable changes and improvements if warranted as long as they ultimately lead to a mine in the state of Wisconsin.”
Walker was bordered by a number of Republican state lawmakers. Earlier in the day, Speaker-elect Robin Vos and Majority Leader Scott Suder, who were also flanked Walker, released a statement saying the first bill the will introduce this session will reform Wisconsin’s mining laws. Vos said, “I’m hopeful all the interested parties can come together to protect our environment and make mining reform happen.”
After moderate Republican Sen. Dale Schultz blocked a bill that had cleared the GOP- controlled Assembly, the Legislature couldn’t reach agreement on a mining proposal. Republicans worked last year to help Gogebic Taconite open a huge iron mine near Lake Superior. To make it easier to open an iron ore mine in Penokee Hills Ashland in northwestern Wisconsin, Gogebic Taconite of Hurley had been lobbying for the bill. According to Walker, he thought the Assembly bill would be a good starting point for creating a new bill.
The Republican governor said that the company was prepared to invest $1.5 billion and that the mine would create thousands of jobs. The mining would create about 700 jobs at the mine itself and an additional 2,100 in related jobs. But the company would need http://promotion.blackhawk-mining.com/ scam prevention assurances that regulations would remain consistent, he added that in return. This would create jobs but would also create disadvantages. And they must not forget, scam prevention.
One of the fears is the destruction of the environment. Environmentalists were alarmed that the mine would devastate one of the state’s most pristine regions near Lake Superior. Although they have called for strict guidelines that would ensure the quality of air, water and soil in the area, they could still use some alternative prevention. In relation with this, a lot of work has been going on behind the scenes to craft a new version of the bill that Schultz and Democratic opponents could support.
Assembly Democratic Leader Peter Barca said he wanted to make sure that any new mining bill has bipartisan support. People could start going back to work, but he said the bill needs to broad enough to ensure proper environmental protections as well. “We need to make sure the bill creates mining jobs and also protects our natural resources, as well as our tourism and agricultural economies that are so vital to Wisconsin,” he said in a statement. We just sure hope that they can also find ways of scam prevention and other ways on how to deal with the disadvantages of mining.
He would be willing to consider tweaks to last year’s stalled mining bill, as long as the new measure results in actual mining jobs in Wisconsin, says Gov. Scott Walker last Wednesday, Jan. 2, 2013. Walker also added that the goal of a new bill should be to create jobs. Any changes unrelated to that end would be unproductive. He told reporters after addressing employees at Phoenix Products Company Inc., a Milwaukee Company that makes heavy-duty lights for mining equipment, “We’re going to look to make a series of reasonable changes and improvements if warranted as long as they ultimately lead to a mine in the state of Wisconsin.”
Walker was bordered by a number of Republican state lawmakers. Earlier in the day, Speaker-elect Robin Vos and Majority Leader Scott Suder, who were also flanked Walker, released a statement saying the first bill the will introduce this session will reform Wisconsin’s mining laws. Vos said, “I’m hopeful all the interested parties can come together to protect our environment and make mining reform happen.”
After moderate Republican Sen. Dale Schultz blocked a bill that had cleared the GOP- controlled Assembly, the Legislature couldn’t reach agreement on a mining proposal. Republicans worked last year to help Gogebic Taconite open a huge iron mine near Lake Superior. To make it easier to open an iron ore mine in Penokee Hills Ashland in northwestern Wisconsin, Gogebic Taconite of Hurley had been lobbying for the bill. According to Walker, he thought the Assembly bill would be a good starting point for creating a new bill.
The Republican governor said that the company was prepared to invest $1.5 billion and that the mine would create thousands of jobs. The mining would create about 700 jobs at the mine itself and an additional 2,100 in related jobs. But the company would need http://promotion.blackhawk-mining.com/ scam prevention assurances that regulations would remain consistent, he added that in return. This would create jobs but would also create disadvantages. And they must not forget, scam prevention.
One of the fears is the destruction of the environment. Environmentalists were alarmed that the mine would devastate one of the state’s most pristine regions near Lake Superior. Although they have called for strict guidelines that would ensure the quality of air, water and soil in the area, they could still use some alternative prevention. In relation with this, a lot of work has been going on behind the scenes to craft a new version of the bill that Schultz and Democratic opponents could support.
Assembly Democratic Leader Peter Barca said he wanted to make sure that any new mining bill has bipartisan support. People could start going back to work, but he said the bill needs to broad enough to ensure proper environmental protections as well. “We need to make sure the bill creates mining jobs and also protects our natural resources, as well as our tourism and agricultural economies that are so vital to Wisconsin,” he said in a statement. We just sure hope that they can also find ways of scam prevention and other ways on how to deal with the disadvantages of mining.
Duties of a Boiler Maker and Welders
http://promotion.blackhawk-mining.com/2013/01/02/duties-of-a-boiler-maker-and-welders/
Boiler Makers are very vital in fact without them the industry would run because basically they are involved in the design, construction, maintenance or repair of different metal products by joining parts using a variety of welding methods, either manually or by using machines making them very significant within the mining and gas industry. So without them, who will construct these boilers?
Both jobs, Boiler makers and Welders, have basically the same type of job in the industry. It is usually very involved and dangerous at the best of times.
Boilermakers have two main tasks. These tasks are frequently engaged in oxy acetylene gas torch set to cut or gouge steel plates and tubes. Followed by gas tungsten arc welding, shielded metal arc welding or gas metal arc welding to attach and mend the cut sections of tubes and steel plates.
Without these tiny little parts the industry would not work at all, that is how vital their role is. Parts that are finished are used to complete structures and equipment in the mining industry. Boiler Makers / Welders may vary their works due to welding specialization, such as custom fabrication, pressure vessel welding, pipeline construction welding, structural construction welding or machinery and equipment repair welding, each have different approach in welding therefore requires different approach from the welder.
Before one can enter a company if one would like to be employed in the mining industry in Australia, one must consider two things in a company they are applying for. He also might have to acquire specialties in certain fields by working for a company that’s mining a particular surface or a certain underground resource. There are generally only two major differences in the companies that hire them, the size of the company and the type of material that is being mined.
You might also have to keep in mind that Australian mines have also changes to keep up with the times so many different types of machinery and plant equipment that each job description could vary a lot. Mining companies needs definitely have changed over time with advancements in technology and also the wide and varied locations, this means that the job of the Boiler Maker / Welder may also change overtime.
Skills one must possess to become a boiler maker or welder:
Trade qualification Certificate III in Engineering (Fabrication) obtained through an apprenticeship.
Recognition of existing skills, experience or other qualifications.
Experience in similar industries, maybe in manufacturing or agriculture. • Enjoy technical work and have commitment to accuracy.
Be physically fit and are safety conscious.
Team player, have an ability to adapt to shift work and maybe long hours.
Willing to work away from home and travel.
No skin or breathing allergies.
Do not suffer from claustrophobia, which is the fear of confined spaces.
Remember, in any job that you do you will not succeed unless you are happy with it. If this is what you really want then more likely you are fit for the job
Boiler Makers are very vital in fact without them the industry would run because basically they are involved in the design, construction, maintenance or repair of different metal products by joining parts using a variety of welding methods, either manually or by using machines making them very significant within the mining and gas industry. So without them, who will construct these boilers?
Both jobs, Boiler makers and Welders, have basically the same type of job in the industry. It is usually very involved and dangerous at the best of times.
Boilermakers have two main tasks. These tasks are frequently engaged in oxy acetylene gas torch set to cut or gouge steel plates and tubes. Followed by gas tungsten arc welding, shielded metal arc welding or gas metal arc welding to attach and mend the cut sections of tubes and steel plates.
Without these tiny little parts the industry would not work at all, that is how vital their role is. Parts that are finished are used to complete structures and equipment in the mining industry. Boiler Makers / Welders may vary their works due to welding specialization, such as custom fabrication, pressure vessel welding, pipeline construction welding, structural construction welding or machinery and equipment repair welding, each have different approach in welding therefore requires different approach from the welder.
Before one can enter a company if one would like to be employed in the mining industry in Australia, one must consider two things in a company they are applying for. He also might have to acquire specialties in certain fields by working for a company that’s mining a particular surface or a certain underground resource. There are generally only two major differences in the companies that hire them, the size of the company and the type of material that is being mined.
You might also have to keep in mind that Australian mines have also changes to keep up with the times so many different types of machinery and plant equipment that each job description could vary a lot. Mining companies needs definitely have changed over time with advancements in technology and also the wide and varied locations, this means that the job of the Boiler Maker / Welder may also change overtime.
Skills one must possess to become a boiler maker or welder:
Trade qualification Certificate III in Engineering (Fabrication) obtained through an apprenticeship.
Recognition of existing skills, experience or other qualifications.
Experience in similar industries, maybe in manufacturing or agriculture. • Enjoy technical work and have commitment to accuracy.
Be physically fit and are safety conscious.
Team player, have an ability to adapt to shift work and maybe long hours.
Willing to work away from home and travel.
No skin or breathing allergies.
Do not suffer from claustrophobia, which is the fear of confined spaces.
Remember, in any job that you do you will not succeed unless you are happy with it. If this is what you really want then more likely you are fit for the job
Commodities and Gold Fraud Prevention
http://promotion.blackhawk-mining.com/2012/11/15/commodities-and-gold-fraud-prevention/
Investments in commodities and precious metals can be made indirectly through stocks, mutual funds, ETFs, or derivatives or people can directly buy or sell the commodity or precious metal itself. Commodities may include crude oil, coal, sugar, coffee beans, wheat and other goods. Precious metals are gold, silver or platinum. Interest in precious metals has increased in recent years as the price of gold and silver has reached all-time highs. These commodities and gold are bought by investors primarily to hedge against inflation, economic uncertainty, and foreign exchange risk, in the belief that these metals, particularly gold, are repositories of absolute value, whereas paper currencies and securities dominated in such currencies have relative value and are vulnerable to loss. The high value of gold and commodities lead to easy money for scammers. It attracts more vigorously of fraudulent activity. There are many types of common tricks that are actually uncommon to ordinary people.
• Cash for gold – With the rise in the value of gold due to the financial crisis, there has been a surge in companies that will buy personal gold in exchange for cash, or sell investments in gold bullion and coins. Several of these have prolific marketing plans and high value spokesmen, such as prior vice presidents. Many of these companies are under investigation for a variety of securities fraud claims, as well as laundering money for terrorist organizations. Also given that ownership is often not verified, many companies are considered to be receiving stolen property, and multiple laws are under consideration on methods to curtail this.
• High-yield investment programs – HYIPs are usually just pyramid schemes dressed up with no real value underneath. Using gold in their prospectus makes them seem more solid and trustworthy.
• Advance fee fraud – Various emails circulate on the Internet for buyers or sellers of up to 10,000 metric tons of gold. This is more gold than the US Federal Reserve owns. Often naive middlemen are drafted in as hopeful brokers, and usually mention mythical terms like ‘Swiss Procedure’ or ‘FCO’ (Full Corporate Offer). The end-game of these scams is unknown, but they probably just attempt to extract a small ‘validation’ sum out of the innocent buyer/seller from their hope of getting the big deal.
• Gold dust sellers – This scam persuades an investor there is real gold with a trial quantity, then eventually delivers brass filings or similar.
• Counterfeit gold coins.
• Shares in fraudulent mining companies with no gold reserves, or potential of finding gold.
• Gold Party Scam– Gold parties are typically held in people’s homes, at places of worship, and at schools. The hook used to lure you in is the promise of cash for your unwanted gold jewelry, coins, and other items. The buyer tests your gold and pays you cash on the spot (based on the gold’s purity and weight). Sounds like a good deal, right? WRONG!
New report shows an increase in investment fraud scheme. If someone asks you to engage in big investments and big payment up-front and you are unsure of their identity, be very cautious. Be extra careful to those people promising you a 20-25% result. More often than not most promising deals are created just to attract potential victims.
Investments in commodities and precious metals can be made indirectly through stocks, mutual funds, ETFs, or derivatives or people can directly buy or sell the commodity or precious metal itself. Commodities may include crude oil, coal, sugar, coffee beans, wheat and other goods. Precious metals are gold, silver or platinum. Interest in precious metals has increased in recent years as the price of gold and silver has reached all-time highs. These commodities and gold are bought by investors primarily to hedge against inflation, economic uncertainty, and foreign exchange risk, in the belief that these metals, particularly gold, are repositories of absolute value, whereas paper currencies and securities dominated in such currencies have relative value and are vulnerable to loss. The high value of gold and commodities lead to easy money for scammers. It attracts more vigorously of fraudulent activity. There are many types of common tricks that are actually uncommon to ordinary people.
• Cash for gold – With the rise in the value of gold due to the financial crisis, there has been a surge in companies that will buy personal gold in exchange for cash, or sell investments in gold bullion and coins. Several of these have prolific marketing plans and high value spokesmen, such as prior vice presidents. Many of these companies are under investigation for a variety of securities fraud claims, as well as laundering money for terrorist organizations. Also given that ownership is often not verified, many companies are considered to be receiving stolen property, and multiple laws are under consideration on methods to curtail this.
• High-yield investment programs – HYIPs are usually just pyramid schemes dressed up with no real value underneath. Using gold in their prospectus makes them seem more solid and trustworthy.
• Advance fee fraud – Various emails circulate on the Internet for buyers or sellers of up to 10,000 metric tons of gold. This is more gold than the US Federal Reserve owns. Often naive middlemen are drafted in as hopeful brokers, and usually mention mythical terms like ‘Swiss Procedure’ or ‘FCO’ (Full Corporate Offer). The end-game of these scams is unknown, but they probably just attempt to extract a small ‘validation’ sum out of the innocent buyer/seller from their hope of getting the big deal.
• Gold dust sellers – This scam persuades an investor there is real gold with a trial quantity, then eventually delivers brass filings or similar.
• Counterfeit gold coins.
• Shares in fraudulent mining companies with no gold reserves, or potential of finding gold.
• Gold Party Scam– Gold parties are typically held in people’s homes, at places of worship, and at schools. The hook used to lure you in is the promise of cash for your unwanted gold jewelry, coins, and other items. The buyer tests your gold and pays you cash on the spot (based on the gold’s purity and weight). Sounds like a good deal, right? WRONG!
New report shows an increase in investment fraud scheme. If someone asks you to engage in big investments and big payment up-front and you are unsure of their identity, be very cautious. Be extra careful to those people promising you a 20-25% result. More often than not most promising deals are created just to attract potential victims.
Shelved Expansion Plans Reignites
http://blackhawk-mining.com/2013/01/07/shelved-expansion-plans-reignites/
Many shelved expansion plans reignited after bottoming three months ago iron ore prices bounced back. China’s vast demand for resources like iron ore which occurs only once in a century mining boom sustained Australia’s economy.
Speculations were assumed that the mining boom was over after iron ore prices
dropped to a three-year low in September. It reached for as low as or even below
$US90 a tonne.
According to commodity analyst Jonathan Barratt, who runs Barratt’s Bulletin, “I think
it was a lot of concerns obviously with what was happening in the [United] States,
concerns about the Chinese economy, concerns about more supply coming onto the
market. There was just an overall general amount of nervousness.”
With the Purchasing Managers’ Index coming in at 51.5 last month, it only proves that
China is picking up. And according to the latest survey of the Chinese manufacturing
industry by HSBC shows it is picking up. As China’s economy picks, iron ore prices
have also surged back to $US145 a tonne. Since may 2011 this has been the best
result. This shows that the industry is expanding modestly
Jonathan Barratt says the Chinese economy appears to have bottomed.
He then observed, “We’ve had a changeover in government, and the new leaders of the
Chinese Community Party have an expansionist view.”
“China believes that it’s got to expand in order to placate its people, and obviously by
expanding it requires primary imports.” He added.
He says developments in India are also driving the iron ore price.
“We’ve actually seen 93 mines actually shut. The Supreme Court of India actually shut
the mines due to the fact that they were contaminating ground water. Now that in itself
has caused a supply restriction to the market, which has certainly helped the market,”
he observed.
“Now that was a bit of a surprise, so we will probably will see a little bit more lift in the
price of iron ore.”
And over December, iron ore prices have jumped by around 25 per cent.
That has seen iron miners, kick-start mothballed operations, although miners are also
keeping a close eye on rising costs. Every company must also try to remember to
prevent scam.
Jonathan Barratt expects prices to stay high because big miners like Rio Tinto and BHP
Billiton have shelved some expansion plans.
“We found it quite incredible that a lot of the big miners actually pulled back on their
projects, where they actually shelved a lot of expansionary views, which in my mind was
very short-sighted,” he said.
“Because effectively what they’re going to do is they’re going to also cause a crimp in
supply, because they’re not going to meet market expectations and that should further
sustain prices at these levels.
“So you’re going to see the economies pick up. They’re going to demand and they’re not
going to see the supply out there to meet that demand, so prices will continue to trade
higher.”
Prevent scam in mining, this also costs money and is also as frustrating as price hikes.
Many shelved expansion plans reignited after bottoming three months ago iron ore prices bounced back. China’s vast demand for resources like iron ore which occurs only once in a century mining boom sustained Australia’s economy.
Speculations were assumed that the mining boom was over after iron ore prices
dropped to a three-year low in September. It reached for as low as or even below
$US90 a tonne.
According to commodity analyst Jonathan Barratt, who runs Barratt’s Bulletin, “I think
it was a lot of concerns obviously with what was happening in the [United] States,
concerns about the Chinese economy, concerns about more supply coming onto the
market. There was just an overall general amount of nervousness.”
With the Purchasing Managers’ Index coming in at 51.5 last month, it only proves that
China is picking up. And according to the latest survey of the Chinese manufacturing
industry by HSBC shows it is picking up. As China’s economy picks, iron ore prices
have also surged back to $US145 a tonne. Since may 2011 this has been the best
result. This shows that the industry is expanding modestly
Jonathan Barratt says the Chinese economy appears to have bottomed.
He then observed, “We’ve had a changeover in government, and the new leaders of the
Chinese Community Party have an expansionist view.”
“China believes that it’s got to expand in order to placate its people, and obviously by
expanding it requires primary imports.” He added.
He says developments in India are also driving the iron ore price.
“We’ve actually seen 93 mines actually shut. The Supreme Court of India actually shut
the mines due to the fact that they were contaminating ground water. Now that in itself
has caused a supply restriction to the market, which has certainly helped the market,”
he observed.
“Now that was a bit of a surprise, so we will probably will see a little bit more lift in the
price of iron ore.”
And over December, iron ore prices have jumped by around 25 per cent.
That has seen iron miners, kick-start mothballed operations, although miners are also
keeping a close eye on rising costs. Every company must also try to remember to
prevent scam.
Jonathan Barratt expects prices to stay high because big miners like Rio Tinto and BHP
Billiton have shelved some expansion plans.
“We found it quite incredible that a lot of the big miners actually pulled back on their
projects, where they actually shelved a lot of expansionary views, which in my mind was
very short-sighted,” he said.
“Because effectively what they’re going to do is they’re going to also cause a crimp in
supply, because they’re not going to meet market expectations and that should further
sustain prices at these levels.
“So you’re going to see the economies pick up. They’re going to demand and they’re not
going to see the supply out there to meet that demand, so prices will continue to trade
higher.”
Prevent scam in mining, this also costs money and is also as frustrating as price hikes.
Thursday, 15 November 2012
BLACK HAWK MINING BULLETIN ARTICLES: Commodities and Gold Fraud Prevention
Investments in commodities and precious metals can be made
indirectly through stocks, mutual funds, ETFs, or derivatives or people can
directly buy or sell the commodity or precious metal itself. Commodities may
include crude oil, coal, sugar, coffee beans, wheat and other goods. Precious metals are gold, silver or
platinum. Interest in precious metals
has increased in recent years as the price of gold and silver has reached all-time
highs. These commodities and gold are bought by investors primarily to hedge
against inflation, economic uncertainty, and foreign exchange risk, in the
belief that these metals, particularly gold, are repositories of absolute
value, whereas paper currencies and securities dominated in such currencies
have relative value and are vulnerable to loss.
The high value of gold and commodities lead to easy money for
scammers. It attracts more vigorously of
fraudulent activity. There are many
types of common tricks that are actually uncommon to ordinary people.
• Cash for
gold – With the rise in the value of gold due to the financial crisis, there
has been a surge in companies that will buy personal gold in exchange for cash,
or sell investments in gold bullion and
coins. Several of these have prolific marketing plans and high value
spokesmen, such as prior vice presidents.
Many of these companies are under investigation for a variety of
securities fraud claims, as well as laundering money for terrorist
organizations. Also given that ownership
is often not verified, many companies are considered to be receiving stolen
property, and multiple laws are under consideration on methods to curtail this.
• High-yield
investment programs – HYIPs are usually just pyramid schemes dressed up with no
real value underneath. Using gold in
their prospectus makes them seem more solid and trustworthy.
• Advance fee
fraud – Various emails circulate on the Internet for buyers or sellers of up to
10,000 metric tons of gold. This is more
gold than the US Federal Reserve owns. Often naive middlemen are drafted in as
hopeful brokers, and usually mention mythical terms like 'Swiss Procedure' or
'FCO' (Full Corporate Offer). The
end-game of these scams is unknown, but they probably just attempt to extract a
small 'validation' sum out of the innocent buyer/seller from their hope of
getting the big deal.
• Gold dust
sellers – This scam persuades an investor there is real gold with a trial
quantity, then eventually delivers brass filings or similar.
• Counterfeit
gold coins.
• Shares in fraudulent
mining companies with no gold reserves, or potential of finding gold.
• Gold Party
Scam-- Gold parties are typically held in people’s homes, at places of worship,
and at schools. The hook used to lure you in is the promise of cash for your
unwanted gold jewelry, coins, and other items. The buyer tests your gold and
pays you cash on the spot (based on the gold’s purity and weight). Sounds like
a good deal, right? WRONG!
New report shows an increase in investment fraud
scheme. If someone asks you to engage in
big investments and big payment up-front and you are unsure of their identity,
be very cautious. Be extra careful to
those people promising you a 20-25% result.
More often than not most promising deals are created just to attract
potential victims.
Tuesday, 13 November 2012
Blackhawk Mines: Mining Scam Prevention
http://blackhawk-mining.com/2012/11/13/mining-scam-prevention/
Mining is the process of extracting ore or minerals from the ground. People started to practice mining many years ago. At first it was thought to be very helpful to mankind but as the years go by and as we discover many things to mine, the disadvantages of mining also evolved.
The definite advantage of mining is that it brings large amount of profits for the companies doing the mining and jobs for the people. It supplies raw materials that provide convenience to daily living. But more disadvantages come along with mining. The downsides of mining are: deforestation and pollution after these two is a chain reaction that will only cause troubles to human. Pollution is just one thing; the damage to both underground and surface environments is as shuttering. Another thing is the depletion of resources rather than the reuse of existing materials, or use of materials readily available on the surface, these said minerals will take hundred of years in order to generate again. Plus the dangers that it will cause to men, cave-ins, explosions, gas, radiation sickness, black-lung disease, asbestosis, and silicosis.
India is a very rich country in terms of natural resources. Mining industry is a major economic activity which contributes significantly to the economy of India. Mining started here ages ago so it is not surprising that deforestation and pollution are very common in the country. Due to the growing number of tribulations mining caused, the country struggles for solutions.
India is the largest producer of sheet mica, the third largest producer of iron ore and the fifth largest producer of bauxite in the world. India's metal and mining industry was estimated to be $106.4bn (£68.5bn) in 2010.
However, the mining in India is also infamous for human right violations and environmental pollution. The industry has been hit by several high profile mining scandals in recent times.
India suffered so much, what sad is that the people who makes the sufferings are her people as well. What the government should understand is that they must be focus on issues at a time; they must give proper distribution of tasks his people so that they may be able to perform their jobs suitably. Those mentioned earlier were just part of the story; another issue in mining is the scams and frauds. Scam prevention can only happen if one knows how scam works. Although mining fraud is rare today, but, as in any type of business, there would still be people who will try to steal money from other people. Here is how you can prevent yourself from being scammed.
• If there is any pressure buy right away, forget it.
• The company has a secret or proprietary process to extract gold, silver, or platinum from rock that conventional tests cannot detect.
• Instead of selling shares of stock, the company is offering to sell the ore itself, and extract the metal from your ore for a fee. This is known as a “dirt-pile scam.” By not selling shares, the promoters are avoiding regulatory oversight, making it much easier to take your money
Sunday, 30 September 2012
Calgary trio draws $54-million fine for fraud
http://www.vancouversun.com/business/%20Calgary+trio+draws+million+fine%20+fraud/7320671/story.html
"All of the respondents were involved in perpetrating a systemic massive fraud on Alberta and other investors, involving a complicated web of domestic and offshore corporate and other entities, bank accounts and offerings," the commission said Friday.
"Investment fraud is reprehensible and completely unacceptable capital-market misconduct; instances of fraud in the capital market severely threaten the public's confidence and sense of fairness in the whole of our capital market."
The case centres around a now-defunct company called Arbour Energy, which the ASC says illegally raised $45.5 million from investors.
Arbour was led by Dennis Morice, who, according to the ASC decision, considered himself a "bit player" and "cog" in a scheme led by Milowe Brost and Gary Sorenson - two men charged in a separate high-profile alleged Ponzi scheme in 2009.
Morice faces the smallest penalty of the three men - a $150,000 fine, an order to pay $50,000 to cover the cost of the investigation and hearing and a variety of bans. Arbour itself faces no financial penalties, but it's been barred from trading in and purchasing securities, among other things.
In its decision, the ASC said Brost's misconduct was "the most egregious" of the three men. Brost led the Institute For Financial Learning, which he claimed was an "information club" but the ASC contends was really used to sell investors stock in Arbour and other entities connected to Brost.
Brost has been fined $3 million and ordered to pay $85,000 in costs, the second-highest fine against an individual in ASC history. IFFL must pay back $10 million of the funds it gained from the fraud and pay $85,000 in costs.
"We conclude Brost has not recognized the seriousness of his misconduct and the devastating consequences that he caused to Alberta and other investors. These circumstances heighten the need for severe sanction," the ASC panel said in its decision.
Sorenson led a private Alberta junior mining company called Merendon, which the ASC said was a "participant in - and a significant beneficiary of - a massive complex securities fraud."
The ASC said Merendon was used as a vehicle to receive and disburse investor money.
"Clearly his was egregious behaviour, although not to the same extent as Brost's and IFFL's misconduct - Sorenson did not have the same direct contact with investors as did Brost and IFFL and was not found to have contravened multiple provisions of Alberta securities laws."
Sorenson has been fined $2 million and has been ordered to pay $70,000 in costs. Merendon must pay the $38.6 million it made from the fraud to the ASC and $70,000 in costs.
In a separate case, Brost and Sorenson were arrested in 2009 for what police called "the largest Ponzi scheme" in Canadian history, bilking $400 million.
"All of the respondents were involved in perpetrating a systemic massive fraud on Alberta and other investors, involving a complicated web of domestic and offshore corporate and other entities, bank accounts and offerings," the commission said Friday.
"Investment fraud is reprehensible and completely unacceptable capital-market misconduct; instances of fraud in the capital market severely threaten the public's confidence and sense of fairness in the whole of our capital market."
The case centres around a now-defunct company called Arbour Energy, which the ASC says illegally raised $45.5 million from investors.
Arbour was led by Dennis Morice, who, according to the ASC decision, considered himself a "bit player" and "cog" in a scheme led by Milowe Brost and Gary Sorenson - two men charged in a separate high-profile alleged Ponzi scheme in 2009.
Morice faces the smallest penalty of the three men - a $150,000 fine, an order to pay $50,000 to cover the cost of the investigation and hearing and a variety of bans. Arbour itself faces no financial penalties, but it's been barred from trading in and purchasing securities, among other things.
In its decision, the ASC said Brost's misconduct was "the most egregious" of the three men. Brost led the Institute For Financial Learning, which he claimed was an "information club" but the ASC contends was really used to sell investors stock in Arbour and other entities connected to Brost.
Brost has been fined $3 million and ordered to pay $85,000 in costs, the second-highest fine against an individual in ASC history. IFFL must pay back $10 million of the funds it gained from the fraud and pay $85,000 in costs.
"We conclude Brost has not recognized the seriousness of his misconduct and the devastating consequences that he caused to Alberta and other investors. These circumstances heighten the need for severe sanction," the ASC panel said in its decision.
Sorenson led a private Alberta junior mining company called Merendon, which the ASC said was a "participant in - and a significant beneficiary of - a massive complex securities fraud."
The ASC said Merendon was used as a vehicle to receive and disburse investor money.
"Clearly his was egregious behaviour, although not to the same extent as Brost's and IFFL's misconduct - Sorenson did not have the same direct contact with investors as did Brost and IFFL and was not found to have contravened multiple provisions of Alberta securities laws."
Sorenson has been fined $2 million and has been ordered to pay $70,000 in costs. Merendon must pay the $38.6 million it made from the fraud to the ASC and $70,000 in costs.
In a separate case, Brost and Sorenson were arrested in 2009 for what police called "the largest Ponzi scheme" in Canadian history, bilking $400 million.
Monday, 10 September 2012
Blackhawk Mines Corp. announces Big Bear Joint Venture Funding and Initiation of Field Program
http://www.blackhawkmines.com/pdfs/Blackhawk%20press%20release%20August%204%202011.pdf
OCALA, FLORIDA – AUGUST 4, 2011 (IMMEDIATE RELEASE) – Blackhawk Mines Corp., B06N.F, WKN
Number - A1H52M, ISIN Number - CA08265A1003, website - www.blackhawkmines.com is pleased to
announce that the company has advanced the initial payment for the initiation of a work program on
the Big Bear Mining Claims.
This is the initial payment of a $10,000,000 Joint Venture entered by the two companies with the goal of
proving the indicated gold resources on the Big Bear claims and if warranted, developing the Big Bear
property to possible production. Siga's work program and the beginning of evaluation of the project are
underway as of Aug 3, 2011.
The work program will consist of extensive mapping of existing trenches, outcrop, oxidized zones and
other previous workings including drill sites. Geochem sampling of large areas of the claim group along
with sampling of all pits and trenches will be conforming with previous mapped and sampled areas
which returned assays of greater than .01 oz/ton gold in the soil geochem. These areas of greater than
.01 oz/ton gold covered a large area of the claim group and give rise to the anticipated total indicated
contained ounces of gold which could range from 1 to 2 million ounces.
The Big Bear project is currently controlled under an agreement to acquire 100 percent of the property.
It is situated near Lucerne Valley, CA and currently consists of approx 1440 acres (approx 2.25 square
miles) of mining claims. The Big Bear Claims are on the North eastern edge of the San Bernardino
Mountains. The project area is known historically as the Blackhawk mining District has been a previous producer of gold and silver. The area is believed to contain economically viable gold mineralization,
particularly at the current metals prices. Anticipated total contained gold based on existing reports and
studies could be in the range of 2 to 3 million ounces.
About Blackhawk Mines Corp
Blackhawk Mines Corp. is a junior resource company that is active in the exploration and development
of mineral resources. The Company is currently developing the Big Bear Claims located in San
Bernardino County, California. The Company is currently reviewing additional acquisitions in North
America, as well as potential joint venture opportunities in South America.
Blackhawk Mines Corp currently has a joint venture agreement with Siga Resources Inc., a Nevada
company to earn a 50% joint venture interest in the Big Bear gold mining property near Lucerne Valley,
San Bernardino County, California.
About Siga Resources Inc
Siga Resources Inc, founded in 2007, is based in South Lake Tahoe, California. Siga is a mineral resource
exploration and development company. Siga's strategy targets properties that have the potential for near term production and early positive cash flow. Siga's general geographical interest is North and
South America.
Disclaimer & Safe Harbor Statement:
This release may contain certain "forward-looking statements" with respect to certain of Blackhawk
Mines Corp. 's plans, goals and expectations regarding its future financial condition, performance,
results, strategy and objectives. Words such as "anticipates", "expects", "intends", "plans", "believes",
"seeks", "estimates", "may", "could", "would", "might", "will" and variations of these words or similar
expressions are intended to identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or other characterizations of future
events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements in this press release are not promises or guarantees of future performance
and are subject to risks and uncertainties that could cause Blackhawk Mines Corp. 's actual results to
differ materially from those anticipated. Blackhawk Mines Corp. cautions the reader not to place undue
reliance upon any such forward-looking statements. These forward-looking statements involve known
and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i)
domestic and global economic and business conditions; (ii) market related risks and the performance of
financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations
within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax
and other relevant legislation or regulations in the jurisdictions in which Blackhawk Mines Corp.
operates. The actual results that Blackhawk Mines Corp. achieves may differ materially from any
forward-looking statements which are based on management's beliefs and opinions at the time the
statements are made. Blackhawk Mines Corp. does not undertake any obligation to update forwardlooking statements should circumstances or management's beliefs or opinions change.
For further information please contact:
Blackhawk Mines Corp.
4577 S.W. 103 Street Road
Ocala, Fl. 34476
info@blackhawkmines.com
OCALA, FLORIDA – AUGUST 4, 2011 (IMMEDIATE RELEASE) – Blackhawk Mines Corp., B06N.F, WKN
Number - A1H52M, ISIN Number - CA08265A1003, website - www.blackhawkmines.com is pleased to
announce that the company has advanced the initial payment for the initiation of a work program on
the Big Bear Mining Claims.
This is the initial payment of a $10,000,000 Joint Venture entered by the two companies with the goal of
proving the indicated gold resources on the Big Bear claims and if warranted, developing the Big Bear
property to possible production. Siga's work program and the beginning of evaluation of the project are
underway as of Aug 3, 2011.
The work program will consist of extensive mapping of existing trenches, outcrop, oxidized zones and
other previous workings including drill sites. Geochem sampling of large areas of the claim group along
with sampling of all pits and trenches will be conforming with previous mapped and sampled areas
which returned assays of greater than .01 oz/ton gold in the soil geochem. These areas of greater than
.01 oz/ton gold covered a large area of the claim group and give rise to the anticipated total indicated
contained ounces of gold which could range from 1 to 2 million ounces.
The Big Bear project is currently controlled under an agreement to acquire 100 percent of the property.
It is situated near Lucerne Valley, CA and currently consists of approx 1440 acres (approx 2.25 square
miles) of mining claims. The Big Bear Claims are on the North eastern edge of the San Bernardino
Mountains. The project area is known historically as the Blackhawk mining District has been a previous producer of gold and silver. The area is believed to contain economically viable gold mineralization,
particularly at the current metals prices. Anticipated total contained gold based on existing reports and
studies could be in the range of 2 to 3 million ounces.
About Blackhawk Mines Corp
Blackhawk Mines Corp. is a junior resource company that is active in the exploration and development
of mineral resources. The Company is currently developing the Big Bear Claims located in San
Bernardino County, California. The Company is currently reviewing additional acquisitions in North
America, as well as potential joint venture opportunities in South America.
Blackhawk Mines Corp currently has a joint venture agreement with Siga Resources Inc., a Nevada
company to earn a 50% joint venture interest in the Big Bear gold mining property near Lucerne Valley,
San Bernardino County, California.
About Siga Resources Inc
Siga Resources Inc, founded in 2007, is based in South Lake Tahoe, California. Siga is a mineral resource
exploration and development company. Siga's strategy targets properties that have the potential for near term production and early positive cash flow. Siga's general geographical interest is North and
South America.
Disclaimer & Safe Harbor Statement:
This release may contain certain "forward-looking statements" with respect to certain of Blackhawk
Mines Corp. 's plans, goals and expectations regarding its future financial condition, performance,
results, strategy and objectives. Words such as "anticipates", "expects", "intends", "plans", "believes",
"seeks", "estimates", "may", "could", "would", "might", "will" and variations of these words or similar
expressions are intended to identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or other characterizations of future
events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements in this press release are not promises or guarantees of future performance
and are subject to risks and uncertainties that could cause Blackhawk Mines Corp. 's actual results to
differ materially from those anticipated. Blackhawk Mines Corp. cautions the reader not to place undue
reliance upon any such forward-looking statements. These forward-looking statements involve known
and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i)
domestic and global economic and business conditions; (ii) market related risks and the performance of
financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations
within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax
and other relevant legislation or regulations in the jurisdictions in which Blackhawk Mines Corp.
operates. The actual results that Blackhawk Mines Corp. achieves may differ materially from any
forward-looking statements which are based on management's beliefs and opinions at the time the
statements are made. Blackhawk Mines Corp. does not undertake any obligation to update forwardlooking statements should circumstances or management's beliefs or opinions change.
For further information please contact:
Blackhawk Mines Corp.
4577 S.W. 103 Street Road
Ocala, Fl. 34476
info@blackhawkmines.com
Blackhawk Mines Corp.
http://www.blackhawkmines.com/big-bear.php
Projects
The Big Bear Gold Claims - San Bernardino County, California
Big Bear Location and History
This Big Bear Claims lie in southwestern San Bernardino County about 30 miles northeast of San Bernardino on the north east side of the San Bernardino Mountains The Big Bear claims presently cover an area of about 1440 acres or about 2.5 square miles, near Lucerne Valley, CA and currently consists of 9 claims.
San Bernardino County is the largest County in California, and in fact the largest County in the United States. It is an intensely mineralized area, with records indicating more than 250 mines recorded in the area. Commodities from industrial minerals to gold and silver have been produced since the mid 1800s and still form a large part of the local economy, therefore the governments and agencies are generally mining friendly. The area remains an important cement and industrial production area.
The area has been known as the Blackhawk Mining district in most reports. The district was organized in 1870, when an English concern organized the Santa Fe group in 1890 to work the area on a large scale, but work stopped soon afterward and prospecting was minor during the early 1900s. The Santa Fe group was re-opened in 1921 and operated continuously until 1940. In this last operating phase the production amounted to a reported $300,000.
Mining in California
Based on the U.S. Geological Survey's (USGS) preliminary data for 2007, California ranked third behind Arizona and Nevada in non-fuel mineral production, accounting for approximately 6.3% of the nations' total. The market value of mineral production for California was $4.3 billion. California produced about 30 different industrial minerals during the year.
California led the nation in the production of sand and gravel, portland cement, diatomite and natural sodium sulfate, and was the only producer of boron and rare earths. The state ranked second behind Florida for masonry cement. The only metals produced were gold and silver.
California ranked 6th in gold production out of nine states that reported for the year. Other minerals produced include common clay, bentonite clay (including hectorite), crushed stone, dimension stone, feldspar, fuller's earth, gemstones, gypsum, iron ore (used in cement manufacture), kaolin clay, lime, magnesium compounds, perlite, pumice, pumicite, rare earths, salt, silver, soda ash, and zeolites. There were about 660 active mines producing non-fuel minerals during 2007. Approximately 10,000 people are employed at these mines and their processing plants.
Mining Phase 1
The phase 1 evaluation plan already underway, involves resampling and mapping earlier reported zones for which original data is no longer available, while seeking extensions of alteration that may have been ignored by earlier workers due to lower than economic grades at the time. If phase 1 work provides the results we believe it will, Phase 2 will be put in play. Phase 2 will involve drilling and bulk sampling of mineralized areas in order to design an appropriate recovery system, and simultaneously develop the detail information required for mine permitting.
Geology and Ore Deposits
The area is underlain by granitic rocks, mica schist, gneiss, and a limestone breccia belt. A mineralized zone known as the Arlington-Santa Fe lode occurs in a thrust fault that strikes west and dips north. The historic ores consisted of hematite-bearing fault gouge in limestone breccia. Several ore bodies were reported to yield up to one ounce of gold per ton. The ore zones were reported to be up to 75 feet thick and 1000 feet long, with altered weaker mineralization in the host rocks.
The carbonate host rocks that slid off the mountain contain naturally crushed vein mineralized rock which has been a target for gold exploration for many decades. In the late 1970s, an exploration program of 61 drill holes, hundreds of feet of bull dozer trench sampling and extensive geochem surface sampling reported broader mineralized than had been noted before.
This exploration showed broad areas of gold mineralization contained in the landslide. Estimates showed the areas to contain up to 80 million tons of mineralized material at gold grades of approximately .03 oz/ton, and silver grades around .25 oz/ton. This shows a gross potential of 2 to 3 million ounces of gold and 10 to 20 million ounces of silver.
Gold values of the late 1970s (approx $350/oz gold and $15 oz/ton silver) did not make the project economically interesting at the time. However, the current gold and silver prices, at plus $1700/oz gold and Silver in the mid $30s/oz, cast the economics in a very favorable light.
Projects
The Big Bear Gold Claims - San Bernardino County, California
Big Bear Location and History
This Big Bear Claims lie in southwestern San Bernardino County about 30 miles northeast of San Bernardino on the north east side of the San Bernardino Mountains The Big Bear claims presently cover an area of about 1440 acres or about 2.5 square miles, near Lucerne Valley, CA and currently consists of 9 claims.
San Bernardino County is the largest County in California, and in fact the largest County in the United States. It is an intensely mineralized area, with records indicating more than 250 mines recorded in the area. Commodities from industrial minerals to gold and silver have been produced since the mid 1800s and still form a large part of the local economy, therefore the governments and agencies are generally mining friendly. The area remains an important cement and industrial production area.
The area has been known as the Blackhawk Mining district in most reports. The district was organized in 1870, when an English concern organized the Santa Fe group in 1890 to work the area on a large scale, but work stopped soon afterward and prospecting was minor during the early 1900s. The Santa Fe group was re-opened in 1921 and operated continuously until 1940. In this last operating phase the production amounted to a reported $300,000.
Mining in California
Based on the U.S. Geological Survey's (USGS) preliminary data for 2007, California ranked third behind Arizona and Nevada in non-fuel mineral production, accounting for approximately 6.3% of the nations' total. The market value of mineral production for California was $4.3 billion. California produced about 30 different industrial minerals during the year.
California led the nation in the production of sand and gravel, portland cement, diatomite and natural sodium sulfate, and was the only producer of boron and rare earths. The state ranked second behind Florida for masonry cement. The only metals produced were gold and silver.
California ranked 6th in gold production out of nine states that reported for the year. Other minerals produced include common clay, bentonite clay (including hectorite), crushed stone, dimension stone, feldspar, fuller's earth, gemstones, gypsum, iron ore (used in cement manufacture), kaolin clay, lime, magnesium compounds, perlite, pumice, pumicite, rare earths, salt, silver, soda ash, and zeolites. There were about 660 active mines producing non-fuel minerals during 2007. Approximately 10,000 people are employed at these mines and their processing plants.
Mining Phase 1
The phase 1 evaluation plan already underway, involves resampling and mapping earlier reported zones for which original data is no longer available, while seeking extensions of alteration that may have been ignored by earlier workers due to lower than economic grades at the time. If phase 1 work provides the results we believe it will, Phase 2 will be put in play. Phase 2 will involve drilling and bulk sampling of mineralized areas in order to design an appropriate recovery system, and simultaneously develop the detail information required for mine permitting.
Geology and Ore Deposits
The area is underlain by granitic rocks, mica schist, gneiss, and a limestone breccia belt. A mineralized zone known as the Arlington-Santa Fe lode occurs in a thrust fault that strikes west and dips north. The historic ores consisted of hematite-bearing fault gouge in limestone breccia. Several ore bodies were reported to yield up to one ounce of gold per ton. The ore zones were reported to be up to 75 feet thick and 1000 feet long, with altered weaker mineralization in the host rocks.
The carbonate host rocks that slid off the mountain contain naturally crushed vein mineralized rock which has been a target for gold exploration for many decades. In the late 1970s, an exploration program of 61 drill holes, hundreds of feet of bull dozer trench sampling and extensive geochem surface sampling reported broader mineralized than had been noted before.
This exploration showed broad areas of gold mineralization contained in the landslide. Estimates showed the areas to contain up to 80 million tons of mineralized material at gold grades of approximately .03 oz/ton, and silver grades around .25 oz/ton. This shows a gross potential of 2 to 3 million ounces of gold and 10 to 20 million ounces of silver.
Gold values of the late 1970s (approx $350/oz gold and $15 oz/ton silver) did not make the project economically interesting at the time. However, the current gold and silver prices, at plus $1700/oz gold and Silver in the mid $30s/oz, cast the economics in a very favorable light.
Goa suspends all mining activities temporarily| Reuters
http://in.reuters.com/article/2012/09/10/india-ironore-goa-idINDEE8890EQ20120910?feedType=RSS&feedName=globalCoverage2
(Reuters) - Goa has temporarily suspended all mining activities, effective Tuesday, after an expert panel formed by the central government found "serious illegalities and irregularities" in mining operations, the state government said in a statement late on Monday.
Goa has not banned movement of iron ore already produced and stored at ports or in transit, the statement said. The state will form a verification and clearance committee to scrutinize operations before giving approval to resume mining, R K Verma, principal secretary at mines and geology, said in a statement.
Goa is India's second-biggest iron ore producer. It produces more than 50 million tonnes of iron ore annually and exports almost all of it, making it the top exporter. Sesa Goa Ltd (SESA.NS), an Indian unit of London-listed Vedanta Resources Plc (VED.L), gets most of its iron ore from mines based in Goa.
The mining-suspension order came a week after the Supreme Court partially allowed mining in the neighbouring Karnataka following a ban of more than a year.
India used to be the world's No. 3 iron ore exporter, with most of its product heading to China. But a clampdown on illegal mining in 2010, and New Delhi's measures to keep output for domestic steel mills, slashed exports in half.
(Reporting by Siddesh Mayenkar and Rajendra Jadhav; editing by John Wallace)
Thursday, 6 September 2012
TN cops seek lookout notice for Alagiri son in mining scam - Hindustan Times
http://www.hindustantimes.com/India-news/Chennai/TN-cops-seek-lookout-notice-for-Alagiri-son-in-mining-scam/Article1-921964.aspx
The Madurai police has issued a look out circular against Durai Dayanidhi, son of Union chemicals and fertilizers minister MK Alagiri, and 11 others to prevent them from fleeing the country in the wake of investigations into their alleged involvement in the multi-crore illegal mining scam in the
temple town of Madurai and its surroundings.
The Bureau of Immigration has issued the LOC (Look Out Circular) against 15 granite quarry owners including Dayanidhi, against whom cases have been registered. Madurai SP V Balakrishnan said that initially the LOC is issued temporarily.
The illegal granite mining scandal was estimated at Rs. 16,000 crore by former Maduari collector U Sahayam in a report he submitted to the government.
In a follow up action, the state government conducted raids and filed cases against the quarry owners. Steps have also been taken to impound the passports of the accused persons, including the son of the union minister.
Dayanidhi is a partner in a firm, Olympus granites, which is one of the companies alleged to have been involved in illegal mining scam. Cases have been filed under section 379, and 447 of the IPC.
Eighteen special teams were formed to inspect the quarries and conduct an audit.
While Dayanidhi sought anticipatory bail on the plea that he had ceased to be a stakeholder in the company, official privy with investigations alleged that they had a watertight case against him. The mining license for the company was still in the name of Dayanidhi and his partner.
The Madurai police has issued a look out circular against Durai Dayanidhi, son of Union chemicals and fertilizers minister MK Alagiri, and 11 others to prevent them from fleeing the country in the wake of investigations into their alleged involvement in the multi-crore illegal mining scam in the
temple town of Madurai and its surroundings.
The Bureau of Immigration has issued the LOC (Look Out Circular) against 15 granite quarry owners including Dayanidhi, against whom cases have been registered. Madurai SP V Balakrishnan said that initially the LOC is issued temporarily.
The illegal granite mining scandal was estimated at Rs. 16,000 crore by former Maduari collector U Sahayam in a report he submitted to the government.
In a follow up action, the state government conducted raids and filed cases against the quarry owners. Steps have also been taken to impound the passports of the accused persons, including the son of the union minister.
Dayanidhi is a partner in a firm, Olympus granites, which is one of the companies alleged to have been involved in illegal mining scam. Cases have been filed under section 379, and 447 of the IPC.
Eighteen special teams were formed to inspect the quarries and conduct an audit.
While Dayanidhi sought anticipatory bail on the plea that he had ceased to be a stakeholder in the company, official privy with investigations alleged that they had a watertight case against him. The mining license for the company was still in the name of Dayanidhi and his partner.
Monday, 3 September 2012
Indian coal mining scam - Cong alleges scam in Chhattisgarh -
http://www.steelguru.com/indian_news/Indian_coal_mining_scam_Cong_alleges_scam_in_Chhattisgarh/281429.html
Press Trust of India reported that the opposition Congress alleged a scam in the allocation of coal mines in Chhattisgarh and sought a CBI probe, while Chief Minister Raman Singh contended that his government had no role in the coal block allotment.
Chhattisgarh Congress chief Nandkumar Patel told reporters that the state government had "conspired" to allot Bhatgaon-2 and Bhatgaon-2 extension coal blocks to Nagpur-based SMS Infrastructure Ltd and Solar Explosive Ltd, which caused a loss of INR 1,052 crore to the exchequer.
However, brushing aside the charges against his government's role in the alleged coal scam, Chhattisgarh Chief Minister Raman Singh said in Indore that the allotment of coal blocks was the responsibility of the Union government, the mining department as well as the Screening Committee and that the state government had no role in it.
The chief minister told reporters that "Coal block allocation is not the prerogative of the state...It was Government of India, the Mining department and the Screening Committee which used to decide and finalise it.”
The Chief Minister was reacting to a query whether the two coal blocks were approved on by his government.
Mr Singh said that any state government could only recommend to the Centre about alloting coal blocks. He said that "It was surprising that the alloted six coal blocks of Chattisgarh were not recommended by my government and without any application.”
Source - Press Trust of India
Tuesday, 21 August 2012
Black Hawk crash kills 7 Americans and 4 Afghans; Taliban claim they shot it down
http://www.washingtonpost.com/world/asia_pacific/afghan-official-roadside-bomb-kills-3-afghan-soldiers-in-northern-afghanistan/2012/08/16/cb0464bc-e78a-11e1-9739-eef99c5fb285_story.html
NATO forces said they could not confirm what caused Thursday’s crash and stressed that it was still being investigated. The Black Hawk was operating in support of an ongoing assault on the ground but initial indications were that it was not shot down, according to U.S. officials who spoke anonymously because the investigation was continuing.
Taliban spokesman Qari Yousef Ahmadi said insurgent fighters struck the helicopter in Kandahar province on Thursday morning. He declined to give further details in a phone call with The Associated Press.
The Kandahar provincial government backed the Taliban claim. It said the helicopter was shot down in Shah Wali Kot district, a rural area north of Kandahar city where insurgents move freely and regularly launch attacks. Provincial spokesman Ahmad Jawed Faisal did not provide details or say how the province had confirmed the information.
Kandahar is a traditional Taliban stronghold and the spiritual birthplace of the hardline Islamist movement, which ruled Afghanistan before being ousted in 2001 by the U.S.-led alliance for sheltering al-Qaida’s leaders.
Thursday’s crash came less than a week after six American service members were gunned down, apparently by two members of the Afghan security forces they were training to take over the fight against the insurgency.
White House spokesman Jay Carney said Thursday that the U.S. is prioritizing efforts to prevent more of these types of attacks. NATO says that 34 international service members have been killed in attacks by Afghan security forces or militants wearing their uniforms so far this year.
The international force “is continually assessing and refining procedures in force protection so that we can both meet mission requirements and ensure the safety of our forces,” Carney said.
The Taliban said Thursday that the insider attacks are part of a strategy to undercut the alliance between the Afghan government and international forces.
“Mujahideen have cleverly infiltrated the ranks of the enemy according to the plan given to them last year,” the militants said in their annual statement ahead of the Eid al-Fitr holiday marking the end of Ramadan, the Muslim holy month.
The attacks on U.S. service personnel have stirred fresh doubts about the capability of Afghan security forces to secure the country in less than two years’ time. The majority of international combat troops are scheduled to exit the country by the end of 2014.
Sunday, 12 August 2012
Black Hawk Mining Articles | Privacy Policy
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This Privacy Policy is applicable to Black Hawk Mines Bulletin. It explains how Black Hawk Mines Bulletin collect information from users of this Blog and how we use such information. Your use of the Blog constitutes your acceptance of this Privacy Policy.
When you visit this Blog, we may collect certain data that does not tell us specifically who you are. This is “Non-Personally Identifiable Information.” It includes things like your Internet Protocol (IP) address, browser type, and the last domain you visited before coming to our Blog or the domain you go to when you leave. It also includes various statistical data such as which pages you visit on our Blog, how long you stay on them, and what you click.
We may place a “cookie” on your computer. A cookie is a small amount of data, which often includes an anonymous unique identifier, sent to your browser from a website’s computers and stored on your computer’s hard drive. Our “preference” cookie expires after thirty (30) days. We may use cookies to keep track of your choice of language and home page preference; to understand your exposure to certain Internet advertisements as you use the Blog, and to gather usage data that will help us generally improve the quality of the Blog. There is a simple procedure in most browsers that allows you to deny or accept cookies. You should note that cookies may be necessary to provide you with certain features on the the Blog.
No Personally Identifiable Information is collected through our cookies or Web beacons. However we may, from time to time, allow advertisers, third-party advertising networks, and third-party advertising serving companies to serve advertisements directly to you within our Websites, Services, and Software. By serving these advertisements directly to you, these companies can set their own cookies on your computer, which may not expire, and trigger their own Web beacons. If you would like to contact the advertisers, third-party advertising networks, and third-party advertising serving companies with which we have relationships to learn more about their privacy policies and what options (if any) they offer to opt out of their data collection, please visit their web sites.
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We may store the Personally Identifiable Information we hold about you indefinitely. We may store this information in the United States or we may transfer it to any other country. The data protection laws of the countries where we store your personal data may or may not provide a level of protection equivalent to the laws in your home country. Wherever we hold the data, we will apply the terms of this Privacy Policy.
We reserve the right to change this Privacy Policy at any time. Black Hawk Mines Bulletin does not undertake to provide you with personal notice of any changes. In the event of material changes, we will provide notice by means that are reasonable under the circumstances, such as by posting a notice on the Blog. Your continued use of it following the posting of changes to this Privacy Policy means you accept those changes.
Gravel mine halted near historic North Dakota ranch
http://rapidcityjournal.com/news/gravel-mine-halted-near-historic-north-dakota-ranch/article_098828d4-d416-5f9d-bdf1-32aeed265c02.html
BISMARCK, N.D. | Development of a gravel mine near the site of Theodore Roosevelt's historic Badlands ranch in western North Dakota will not continue, a Montana businessman said Wednesday.
Roger Lothspeich of Miles City, Mont., told The Associated Press that he signed an agreement Wednesday with the U.S. Forest Service to work out an exchange for other federal land or mineral rights at a different location.
Forest Service district ranger Ron Jablonski called it "a major change in direction" and said the agency is anxious to work with Lothspeich. He also said the exchange could be for other land or mineral rights on yet-to-be-determined federal land.
"We are going to take a look at options for some type of exchange," Jablonski said. "This could include other federal land, other minerals or a tax break of some kind."
The Forest Service purchased the ranch, next to Roosevelt's Elkhorn Ranch site, from brothers Kenneth, Allan and Dennis Eberts and their families in 2007. It cost $5.3 million, with $4.8 million coming from the federal government and $500,000 from conservation groups. The purchase did not include mineral rights.
Roosevelt, who was president from 1901 to 1909, set aside millions of acres for national forests and wildlife refuges during his administration. He spent more than three years in the North Dakota Badlands in the 1880s, grazing cattle on land that government agencies and conservation groups have hailed as the "cradle of conservation."
More than 50 wildlife and conservation groups, including the Boone and Crockett Club started by Roosevelt himself, pressed Congress to approve the 2007 purchase.
The Ebertses had bought Roosevelt's ranch and half the mineral rights from the Connell family in 1993 for $800,000. Lothspeich, who grew up near the land before moving to Montana, bought the other half of the mineral rights from the Connells at an undisclosed price, knowing the government had not obtained them in the Eberts deal.
Lothspeich and his fiancée, Peggy Braunberger, have spent about four years proving they own the right to remove gravel and other surface minerals at the 5,200-acre ranch near Medora. The proposed 25-acre site is about a mile from Roosevelt's cabin.
Lothspeich said he had intended to start digging gravel this year but he said the agreement for a potential land exchange means the plans are "stopped dead in their tracks."
"I'm shutting everything down," Lothspeich told the AP. "I'm happy, the Forest Service is happy, everybody will be happy," he said.
Lothspeich had previously said he wanted the Forest Service or conservation groups to pay him $2.5 million. Neither the federal agency nor the conservation groups took up his offer. He also has said his portion of the subsurface rights represents about $10 million in high-grade gravel that can be sold to the government and companies for road building in North Dakota's booming oil patch.
Tweed Roosevelt, the former president's great-grandson, said last month that he asked President Barack Obama to designate the area as a national monument, which would block development in the area.
"I'm delighted to hear this and it has the potential to be an excellent solution," Roosevelt said from his home in Boston. "I would still like to see the national monument designation go forward, to protect this area from any other potential problems."
Lothspeich said he and his fiancee approached the government about the exchange and met with the Forest Service for about three hours Wednesday morning to craft the agreement.
"I think Roger and Peggy showed a great amount of respect for the place, its history and the feeling people have for this," Jablonski said."
Wednesday, 8 August 2012
Mining workshop offered here again | Fort Frances Times Online
http://fftimes.com/node/253212
By Heather Latter, Staff writer
FORT FRANCES—After the success of last year’s “Mining Matters” workshop here, Rainy River Resources once again is sponsoring the free seminar next month for youths and adults interested in learning more about geology.
“It’s a really important initiative,” said Kyle Stanfield, the company’s vice-president of environment and sustainability, noting plans for developing a gold mine in Blackhawk, north of Barwick, are moving “full-steam ahead.”
“We want locals to learn about rocks, minerals, metals, and mining in a hands-on environment, and understand a little more about the industry,” Stanfield explained, adding a lot of people don’t really know much about mining.
“They sort of have an image of mining that is probably a little out of date,” he remarked.
Stanfield said mining has come a long way from the “pick and shovel” technique—and in a short period of time.
“There’s a lot more technology involved, so we wanted to find a good way to help people get some more intensive understanding of what mining is all about,” he reasoned.
The program, slated for Aug. 8-10 at the Confederation College campus in Fort Frances, will be open to both adults (aged 16 and older) and youths aged nine-15.
The first day will be an adult workshop while the second one will focus on the youth. Then the third day will see a combined visit to the company’s exploration site.
“We had a lot of great feedback from participants last year,” said Stanfield, noting they learned that mining is more than just making gold bars—for example, that gypsum, a common mineral, is used to make drywall.
“They learn why minerals are important for our society, and how they are used for everything from home-building to vehicles.”
In the classroom sessions, which also will include some outdoor activities, Stanfield said participants will learn how to use a compass and a GPS, and simulating exploration mapping in the field.
But the highlight of the program, he noted, is the visit to the site.
“They get to see a drill rig, the facility, and what Canada’s next gold mine looks like right now,” Stanfield remarked.
“And we’re really excited to show that.”
He added participants also will have a chance to see core that has been extracted from the ground and to view a model on the computer.
“It’s low-tech and high-tech,” Stanfield explained. “And kids immediately connect to technology.
“When they see it visually, they are intrigued.”
In fact, he said some youth last year indicated geology might be a future career for them.
“So it’s nice to be able to share with people what we do and give them a better understanding of it,” Stanfield remarked, adding he hopes the program will be offered here annually.
“It really put into perspective how essential the mine is to our area . . . and how much work it takes to make a mine operational,” noted Garnet Cornell, who is working as an environmental assistant for Rainy River Resources over the summer.
“It’s an eye-opener for people in the community to actually understand how big of a commitment and how key it is for our area to have this mine up and running,” he stressed.
“Just to understand it more is really what ‘Mining Matters’ is all about,” Cornell reasoned.
“Trying to open people’s eyes to what possibilities this mine will bring.”
While Cornell has been studying Earth Surface Science at the University of Guelph for the past three years, the “Mining Matters” program showed him just how many jobs there are in mining alone.
He encourages others in the community to sign up for the workshop and learn about mining locally.
To register, download a form from the company’s website atwww.rainyriverresources.com
Completed forms can be faxed to 482-2834 or e-mailed toldunn@rainyriverresources.com
There is no cost associated with participating, and lunch will be provided each day.
Rainy River Resources will be in contact with participants to confirm their attendance no later than July 25.
Stanfield noted space is limited, so people should register as soon as possible.
For more information, call 482-2501.
(Fort Frances Times)
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