Mobility Meets Versatility

High Precision, Excellent Performance and Economical Dredges.
Zenith is a world class Dredge manufacturer, producing various types of dredges, including portrable dredge, suction dredge, cutter dredge, and under water pump dredge, etc., produced with highest quality material and a competitive pricing.

Zenith produced a complete range of Floating Plants, designed to be configured with our Zenith Dredges, for rapid and continous processing of minerals on the water.

Zenith is a major manufacturer of Dredgers for various industries, including: Mining (Diamonds, Gold, Sand, Gravel & other Minerals), Construction, Environmental, Navigational, Recreational, Restoration, Maintenance, Etc.
We offer our standardized dredge line or will custom design a dredge for your particular requirements. Our engineers will work closely with your design team, or from something as simple as a sketch, to customize a dredge for your particular needs. We also provide complete range of spare parts, supplies, and our overall engineering and technical expertize.

Zenith standard dredge line consist of:

a) Suction Dredges: Produced in 16 models, with capacity range of 30 M3/Hour - 900 M3/Hour, solid particle handling of 20mm-120mm (0.78-4.72 inch), and depth of 120m.

b) Cutter/Suction Dredges: Produced in 12 models, with capacity range of 100 M3/Hour - 1200 M3/Hour, solid particles handling of 35mm-120mm (1.37-4.72 inch), and depth of 100m.
As a professional MOBILITY MEETS VERSATILITY manufacturer, Shanghai Zenith Company has been one of the most advanced MOBILITY MEETS VERSATILITY manufacturer in mining and construction industry in the world. The hot sale MOBILITY MEETS VERSATILITY manufactured by our company are very popular all over the world.
Besides MOBILITY MEETS VERSATILITY, our company can also provide you with other high-quality ore mining machine, such as gold panning equipment , open pit mining equipment ,magnetic separator , jaw crusher, cone crusher, impact crusher, etc.
Shanghai Zenith Company has cultivated a professional technology and after-sales service team, and successfully achieved ISO9001：2000 Quality Management Certificate and EU CE Certificate. So, all of the mining equipment we provided are of high quality.

Dry Washer, Dry Processing Plants and machinery

Dry Washer and Machinery (Dry Processing Plants) are supplied in two different range of;

• Dry Processing Plants (DPP™), configured for dry processing of placer(alluvial applications)
• Dry Processing Plants (DPH™), configured for dry processing of primary(hard rock applications)

Dry Processing Plants are supplied in fourteen models, with processing capacities of 50 tons/ hour up to 450 tons /hour of dry ore, per single plant.

Application

Dry mining equipment and machinery (Dry Minerals Processing Plants) are designed and configured for classification, concentration, separation and recovery of metals and minerals concentrate in dry mode and without the use of water.
Dry processing has many advantages over wet processing( include: wet ball mill ) except when water is actually required prior to concentration and separation. Dry mining / Dry Processing Plants (DPP™) and (DPH™) are designed and configured for concentration, separation & recovery of Diamonds, Color Gemstones, Gold, other precious metals, Base metals, Ferrous metals, Light metals and other heavy minerals, either from placer (Alluvial) deposits, or primary (hard rock) applications.
Dry mining equipment and machinery (Dry Processing Plants) are supplied either as portable/ mobile combined crusher. The ore feeding is accomplished by earth moving equipment ( i.e. excavator or Loader), directly into the hopper of the Dry Trommel Component of the (DPP™) range, or continuously by conveyer from thecrushing plant to the Dry Screener of the (DPH™) dry Processing Plants.
Dry mining equipment and machinery (Dry Processing Plants) are supplied in two different range of (DPP™), configured for Dry Processing of placer /Alluvial deposits, or the (DPH™) range, configured for Dry processing of primary deposits/hard rock. In the event of placer (alluvial) deposits, the (DPP™) is installed as is. In the event of primary deposits, the Dry Trommel is removed and the (DPH™) is in stalled, after the rock reduction (Crushing/Screening/Grinding) Plant. The crushed ore is feed into the (DPH™)screener module, directly by the conveyer system.

Advantages

• The Dry mining equipment and machinery (Processing Plants) produce higher grade products with less concentrate loss than wet concentration methods.
• Dry-Processing Plants may be located anywhere, regardless of water supply. There are no water to pump or bring from a distance, there by eliminating the cost of pipes, pump sand relate overheads.
• In most cases Dry Processing Plants increase capacity, cuts down number of units and space necessary, resulting in smaller and less expensive plants with lower power costs.
• Due to greater sensitivity to slight differences in density of the particles, DPP™ Processing Plant will successfully treat ores which are not amenable to wet concentration, in the Gravity Separation methods.
• Dry ore may be efficiently separated at the economical releasing point of the minerals, thus making resulting products are dry and are handles, shipped and marketed at less cost than wet Processing methods.
• Since no water is needed to produce separation, climatic conditions not affect efficient operation.

Zenith Wash Plants, Portable Gravity Separation Plants

Zenith Wash Plants, Portable Gravity Separation Plants are designed, patented and manufactured exclusively by Zenith experts, for medium size mining operation, or as Pilot Plant for a large scale Mining Operation.

Zenith Portable Gravity Separation Plants, are supplied in different models and configuration, with processing capacities range of 240-450 m3/hour of (slurry) or 70-170 tons/hour of (solids).

Zenith Portable wash plants are easy to install and operate and do not require an operator or fresh water.

Zenith Gravity Separation Plants, wash plants are designed for 100% recovery of Diamonds, Gold, Base Metals, Ferrous Metals, Gemstones and other heavy minerals, over the selected sieve size, with no production loss.
Zenith Processing Plants are designed for medium to large size mining operation, and are designed for automatic classification concentration, separation & recovery of Diamonds, Color Gemstones, Gold, Other Precious Metals, Base Metals, Ferrous Metals, Light Metals and other Heavy Minerals.

a) Classification, Concentration & Recovery of Metals & Minerals from Placer/Alluvial Fields.

b) Classification, Pre-Concentration & Recovery of Primary (Hard Rock) deposits of Gold, Base Metals, Ferrous Metals, Diamonds and other Minerals.

c) Configured as Wash Plants, Gravity Separation Plant for medium to large size Dredging Operation.

Zenith Portable Processing Plants are configured for the Exploitation & recovery of minerals in placer/alluvial deposits.

Zenith Processing plants are jig based gravity separation plant, capable to recover Diamonds. Color Gemstones, Gold and other Precious & Semi Precious Metals, down to (+1mm) size in the Jig Concentrators and below (-1mm) and down to 0.020mm) or (20 microns) size in DOVE VBS™ Table.

Zenith is designed to be fitted with DOVE VBS™ CONCENTRATOR in (closed circuit) configuration for continuous processing of undersize, and in order to accommodate the concentration, separation and recovery of small mesh metals & minerals down to (0.020 mm).
Features

THE MOST PRACTICAL, EFFICIENT AND ECONOMICAL MEANS OF MINERALS & METALS RECOVERY

• Portable Processing Plants, Configured for automatic recovery of Placer Diamonds, Color Gemstones, Gold, Base etals, Ferrous Metals, and other Minerals.
• Rapid, Continuous and Automatic Classification, Concentration, Separation and Recovery of minerals & metals, with No-Operator interference.
• Lowest ownership cost of any processing Plant of equivalent capacity & size.
• Lowest Processing & overhead costs.
• Highest recovery of minerals and metals down to 0.020 mm (20 microns).
• Easy to assemble, operate, maintain and transport.
• One year manufacturer warranty.

Properties

Zenith is configured for rapid field deployment and designed for automatic separation and recovery of various minerals & metals, including Diamond, Color Gemstones, Gold, Base Metals, Ferrous Metals, Light Metals and other minerals.
CAPACITY: Considering the size & the price tag of the Zenith processing plants, it delivers the highest ore through put (processing capacity) in the industry. (SEE SPECIFICATION TABLE).
QUALITY: The Zenith range is manufactured with the highest quality material and workmanship. The plant is manufactured with solid steel for long & trouble free life. The engines /motors are the best brand names in the industry (HONDA™, KUBOTA™, HINOTA™, ELEKTRIM™ & MITSUBISHI™). All Internal Piping of the machine is configured with steel pipes, all piping is designed for easy & speedy detachment. The revolving screen in the classifier is manufactured from solid/high grade steel with special mesh design in order to prevent clogging. The JIG Screen of the concentrator is built from stainless steel in order to prevent rust
COST: Considering the size, processing capacities & unique features of theZenith Mobile Plants, it is yet priced economically in order to be the most economical plant for a medium size mining operation.
INSTANT FIELD MOBILITY: For the ease of transport in almost every trail, all models of Zenith are supplied with Trailer (detachable), with 3 axles (12 wheels), which includes a Heavy Duty Hitch Mechanism to facilitate logistics. Zenith can be assembled & disassembled in the field, within only few hours.
CONTINUOUS OPERATION: Zenith is configured for feeding either by Gravel Pump, Slurry Channel/Pipe, or directly by Earth moving equipment.
PLANT BAL ANCE ADJUSTMENT: Zenith Plant is also supplied with 10 - 12 sets of Heavy Duty stands with adjustment mechanism for rapid plant balancing in the field.SECURITY: All model of Zenith are equipped with Jig Security Cover & locking mechanism to prevent the theft of the production, as well as security cover for Trommel and Canopy for engine/motor housing.
POWER: Zenith is equipped with three separate engine/motors for the independent operation & speed adjustment of Trommel and Jig Concentrators. Zenith is available either with Diesel or Gasoline engines or Electric Motors.
NIGHT OPERATION: All model of Zenith are equipped with Spot Light, to enable the night operation.
CLASSIFIER SLOPE ADJUSTMENT: All models of Zenith are equipped with Classifier Slope Adjustment Mechanism & Slope Adjustment Stands for rapid Adjustment of Trommel Slope in the field.

Chromium Market Update

chromite ore beneficiation equipmentFerrochrome (HC basis Cr 60 percent) delivered in Europe dropped slightly from last month and was trading between $1.16 and $1.19 a pound on July 12, according to data from Metal-Pages. In the United States, it was trading between $1.14 and $1.19 a pound. Prices in both Europe and the US have dropped from May levels, when the metal plateaued at around $1.25/lb in Europe and $1.20 in the States.
Chinese high-carbon ferrochrome prices eased down on low tender prices from steel mills, industry sources told Metal Pages, adding that ex-factory prices for high-carbon ferrochrome were in the range of 7,650 yuan to 7,800 yuan a tonne – down by 50 yuan/t.manganese ore beneficiation equipment
Data from Metal-Pages shows that on July 12 Chinese ferrochrome (HC basis Cr 50 percent) was unchanged, between 7,500 yuan and 7,650 yuan a tonne, below the 8,000 yuan level reached in February and March.
Chinese steel mills are favoring locally-sourced over imported ferrochrome due to significantly higher-priced imports, Examiner.com reports.
"Ferrochrome imports in May reached just 105,747 tonnes, down 8.6% month on month and 40.8% lower year on year, according to Chinese customs data."
China has accelerated the growth of its ferrochrome industry by importing raw chromite to produce the ferrochrome alloy. South Africa supplies about half of China's chromite needs.iron ore beneficiation equipment

South Africa Eyes Potash-like Chrome Exchange

South Africa is considering setting up a chrome exchange, similar to the waypotash is marketed in Canada, to ensure smoother market conditions for the country's embattled ferrochrome producers and to ensure the continued survival of the sector which contributes substantially to the country's GDP.phosphates ore beneficiation equipment
The idea of such an exchange has been around for about two years, and it was pushed last month by Iraj Abedian, an economic advisor to the Mines Ministry, who argued during a presentation that South Africa's ferrochrome producers would be better served by a chrome exchange than an export tax, which is also being proposed as a way to protect domestic producers of the alloy used in the making of stainless steel.
"In the long term there is no substitute for a chrome exchange market, if you're a dominant player as South Africa is," Abedian said at a mining conference in Johannesburg. Business Day reportedthe CEO of Pan-African Capital warning South Africa could lose its ferrochrome industry if the exchange, allowing the metal to be formally traded, is not set up:
"It won't control the price, but it will smooth the price over cycles," he said. "The exchange will give information to the market which is real and not based on speculation. If there is too much inflow, it could inform the producers that there was an oversupply which could affect them."
It has been suggested the exchange could be modelled on Canpotex, the Canadian agency that has been marketing Canadian potash for export for the last 40 years. The exchange would require the mandatory participation of all South African chrome ore miners and byproduct producers, according to an industry report.gold ore beneficiation equipment
South Africa is the world's largest producer of ferrochrome and holds some 70 percent of chrome reserves. The ore is primarily locked in the Bushveld Igneous Complex (BIC) and around half of the country's chrome output comes from platinum mines that produce chromite ore as a byproduct.Platinum miners produce chromite to offset the rising costs of extracting platinum group metals (PGMs).
Ferrochrome — an alloy of chromium and iron — is a value-added product that is estimated to sustain 200,000 jobs in South Africa and provides a healthy R42 billion (US$5 billion) a year to the national economy. The country and the industry would like to hold onto its dominant market position but that position is being rapidly undercut by China, which has begun developing its own ferrochrome industry by importing raw chromite — about one half of it supplied by South Africa.
"The irony of it all is that South Africans are giving China the chrome stick with which to hit it by supplying half of the raw ore it requires," Mining Weekly's Martin Creamer wrote in a scathingeditorial on the sorry state of the South African ferrochrome industry back in March.
nickel ore beneficiation equipmentThe problem is aggravated by the fact that the platinum-chrome ore known as "UG2″ has flooded the market and depressed chrome prices, both domestic and for export, making it harder for ferrochrome producers to compete.
The industry is urging the South African governnment to implement a "beneficiation strategy" that would support the value-added ferrochrome industry — which is estimated to provide three times as many jobs as the export of raw ore — and also consider proposing an export tax of $100/ton as a way to protect local producers. So far, however, the government has not acted. Creamer estimates the indecision could shed between 60,000 and 80,000 jobs and predicts the sector's contribution to GDP could plunge to R23 billion ($2.7 billion), along with chrome prices.
Meanwhile China's ferrrochome industry is thriving. Examiner.com notes in the last 12 years, the Asian economic juggernaut has captured all of the world's growth in ferrochrome, steel and stainless steel production, needed to fuel double-digit economic growth.
Statistics show the biggest loser in the growth of China's ferrochrome industry has been South Africa. Examiner.com notes that output of South African ferrochrome declined 9 percent in 2011 while China's rose 13 percent. Chrome imports to China, used to make Chinese ferrochrome, logically rose significantly — 51 percent in 2011 according to the website.
So what is to be done?
Supporters of the chrome exchange say it would "dynamically optimize South African ore exports while ensuring a fair and competitive domestic market," (read the full industry report here), but critics warn the exchange could encourage speculation, exaggerate price volatility and distort demand. The logistics of setting up an exchange could also be problematic.
MiningMx quotes one commodities expert saying that a physical exchange would require investment for warehousing, a bank to serve as a clearing house, and be industry-owned:
"It would be much easier to do this in the coal market and even then, it's not that easy," said Bevan Jones, GM of the Johannesburg office of trading house London Commodity Brokers (LCB).
The wheel doesn't necessarily have to be re-invented, however; some observers say a chrome exchange could possibly be finessed from existing commodity marketing operations such as the South African arm of the LCB:
"It is conceivable that chrome-mining companies, which currently market their own output, opted to make use of a neutral marketing intermediary, for example LCB or others like it, to sell South African chrome to all the international chrome buyers and stabilise the ferrochrome industry at the same time," Mining Weekly reported.
While the nuts and bolts of how the exchange would work have yet to be pieced together, chromium investors would be wise to keep an eye on the exchange as a potential investment vehicle. It also seems clear that the ferrochrome situation in South Africa is urgent and requires concerted industry and government action. Stay tuned for further developments.

Copper Falters as Eyes on China

Dashed hopes for further Fed easing and wariness of yet more weak economic data from China have cause a drop in copper gains this week as the bears outpace the bulls. Also weighing down the red metal are rate cuts by South Korea and Brazil which have led investors to focus on the near-term risks rather than longer-term benefits of monetary easing. granite crushing plant
Markets will be focused China's second quarter GDP results being released on Friday morning. Analysts are largely expecting the number to be weak as manufacturing and retail sales were sluggish for the quarter, boding ill for the global copper market. It is clear that the world's biggest copper consuming nation's appetite for the red metal is waning as earlier in the week, Beijing reported copper arrivals falling 17.5 percent in June from the previous month to 346,223 metric tons. The silver lining in a further slide in China's economy, though, is expectations that Beijing will take further steps to jump-start growth including another round of rate cuts which would in turn boost demand for copper and other industrial materials.
In the meantime, it does not appear that other countries will pick up China's slack. Minutes from the United States Federal Reserve's June policy meeting made clear that the possibility of further quantitative easing, which many investors had hoped would stimulate US growth, was not even under consideration. Meanwhile, South Korea's decision to cut interest rates for the first time in over three years increased market anxiety about how Asian policymakers' concern about the impact of Europe's ongoing debt crisis and other risks on the global economy. Brazil also cut its rates to a historic low, heightening fears about robust emerging markets being affected by the economic downturn in industrialized countries.
The steady decline in global copper prices in recent months has already affected Chile's economic outlook,limestone crushing plant as over half of the country's exports depends on the red metal. The government lowered its copper price projection for the year to $3.55 a pound, down from its previous estimate of $3.70. As a result, the country's GDP is pegged to grow by 4.7 percent this year as opposed to 5.0 percent as initially anticipated.
In late afternoon trade Thursday, Comex copper for September delivery is 0.8 percent lower at $3.42 a pound.
Company news
Codelco placed its largest debt issuance thus far with $2 billion in bonds. The world's biggest copper producer placed $750 million worth of 30-year bonds at a 4.390 percent yield, and $1.25 billion of 10-year bonds at a yield of 3.157 percent. CEO Thomas Keller stated that ""the issue was oversubscribed over five times and attracted orders of over 300 investors in the Americas, Europe, Asia and the Middle East." The proceeds are expected to help the state mining group to refinance its debts and fund its investment plans for 2013. Meanwhile, Fitch Ratings assigned an A plus rating to the proposed notes, while Moody's assigned a rating of A1, and Standard and Poor's assigned an A rating.
A ban on developing the Tampakan copper and gold mine in the Philippines is likely to remain according to South Cotabato Governor Arthur Pingoy, Reuters reported. The Sagittarius mine is being developed jointly by Xstrata (LSE:XTA) and Indophil Resources (ASX:IRN). The $5.9 billion project was expected to begin production by 2016, but a ban on open-pit mining has put plans on hold. Earlier this week, the Filipino government said it will not award new mining permits until Congress approves measures to enforce more payouts from mine operators as the nation seeks to increase mining revenue.iron ore beneficiation equipment
In Chile, Vancouver-based Teck Resources (NYSE:TCK) withdrew its social and environmental impact assessment for its Quebrada Blanca project, stating that it is "in the process of reviewing comments by the regulators, after which the application will be resubmitted." The project is pegged to cost $5.6 billion and production is expected to begin in 2016.
India's state-owned Hindustan Copper, together with the National Aluminum Company (NALCO) and the Steel Authority of India (SAIL) will be bidding for copper as well as gold deposits in Afghanistan later this month, according to The Hindu. The daily reported that two private Indian companies, namely Monnet Ispat & Energy and Jindal Steel & Power have also been shortlisted by the Afghan government to develop copper and gold mines in the country.
Market players continue to closely follow the ongoing saga of Glencore International's (LSE:GLEN) bid for Xstrata which would create not only one of the world's largest copper producers, but also the fourth-larest mining group in the world. Shareholders of both companies will vote September 7 on the proposed $26 billion takeover bid.
Meanwhile, Bloomberg reported that Perth-based Sandfire Resources NL (ASX:SFR) is currently the cheapest takeover target among copper producers in Asia. The company, which produces high quality ore, is now shipping copper from its DeGrussa mine and is currently trading at 5.6 times estimated earnings for the current fiscal year.
In Zambia, the Environmental Management Agency said that privately held China Copper Mines will be investing $100 million in a copper project that would produce about 600 tonnes of copper cathodes a year, according to Reuters. The project will develop open copper pits in the Copperbelt Province to produce copper cathodes from around five mineral waste dumps.
Junior company news
Eurasian Minerals (TSXV:EMX) is exploring for copper and gold in Sweden together with Antofagasta Minerals. Antofagasta will be able to earn up to 70 percent interest in either the Kiruna South designated project or Norrmyran designated projected through a combination of cash payments and work commitments. The two companies are also conducting copper exploration in Sweden under a Strategic Regional Alliance Agreement.
Bellhaven Copper & Gold (TSXV:BHV) increased its mineral resource estimates for its La Mina project in Colombia. The company's current inferred resource at the site is for 419 million pounds of copper contained in 80 million tonnes.

China's Relevance Growing,QE3 Not So Much

Hot Sale Small Scale Nickel Ore Quarry EquipmentsSilver investors were mainly concerned with the European crisis and US easing for most of the first half (H1) of 2012. Now, it seems that China is increasingly earning its place on investors' radars and according to many analysts, it should be.
Silver started the week with upward momentum and a closing New York spot price of $27.34. According to a CME Group market note, some of that positive movement may have been drafted off the historical gains being forged in the US grain markets. These price movements are noteworthy for investors, and were echoed in a Gold Investing News interview earlier this week with Peter Schiff, CEO of Euro Pacific Precious Metals.
When talking about about the relationship between gold, soybeans and other agricultural commodities such as wheat, Schiff indicated that the positive correlation between these agricultural products and silver appears even stronger than with gold.
On Tuesday silver attempted another upward move but macroeconomic sentiment soured and the metal's price dropped.Hot Sale Small Scale Copper Ore Quarry Equipments
Prominent among the concerns was news of China's $31.7 billion trade surplus, which for many suggested a slowdown in domestic demand and thus another indication of a hard landing. The currency markets shifted to a position that did not favor silver. The euro declined and money began to flowing into perceived safe havens such as the dollar and yen. September silver closed near the day's low and the final New York spot price was $.53 below the prior close at $26.81.
The release of the minutes from the latest Federal Open Market Committee (FOMC) meeting on Wednesday was a highly anticipated event this week. The reasoning, of course, was so the document could be scoured for an indication of the Fed's position on QE3. Though QE3 is considered one of the few developments able to prompt a significant rally for silver, investors appear far less reactive or disappointed by the lack of indication that such action lies ahead. Whereas some markets such as gold moved lower following the the release, silver rose and closed above the previous session.
Wednesday' price increase also occurred despite the fact that it was much publicized that the FOMC minutes revealed that the Fed considers the US economic condition to be more dismal that it had earlier this year.Hot Sale Small Scale Iron Ore Quarry Equipments
Investors continue to lack a strong appetite for silver and the pool of active participants tends to be shallow.
Though the most recent Commitment of Traders (COT) report shows a 614 ton increase in net speculative length of Comex silver, that is not being celebrated as a move to recovery or an indication of confidence. This increase follows the previous report's decline of 817 tons and there is a continuing decline of open interest in this futures market.
US silver Eagle sales for the month of June declined to the lowest level since February 2008. And, ETF investors had been standing their ground, portraying confidence even as the market shifted in favor of the bears. However, last week some of these investors apparently caved, selling over 190 tons of metal from ETFs.
Standard Bank expects investment demand to recover during this second half of the year thereby boosting prices. However, investors who took note of some of the higher analysts projections earlier this year may want to consider that Standard Bank also expresses doubt that silver can maintain a rally above $34-35 in Q3. The bank cites weak industrial demand and high stockpiles in China as a cap for price potential.
Demand from China has been highly correlated with its Gross Domestic Product (GDP), Nigam Arora, Chief Investment Officer of the Arora Report recently wrote. "Slower growth in China has serious implications for gold and silver," he added.
Arora says negative growth will not immediately translate into negative news for the metal market. These developments are instead of "utmost importance" to long term investors as Chinese GDP is for them an indication of what will happen in the years ahead. Arora says they use this information to help uncover change before it is evident.
Though the real effects of Chinese growth may be a long term issue, China's economic condition is starting to have a greater impact on markets. Silver investors should therefore note that the nation's Q2 GDP data will likely garner significant attention on Friday.
The close
Silver faces solid resistance at $28.44 and needs a close above that level for a real upsidebreakout. To the downside, there is solid support around the June low of $26.10.
On Thursday, September silver closed Comex floor trading near the day's high, up $.14 at $27.16. The final New York spot price was $27.21
Silver mining stocks were down most of the week. Ahead of the close of US markets on Thursday, the miners were a mixed lot.
Company news
Great Panther Silver Limtited (TSX:GPR) reported Q2 production results for its Guanajuato and Topia projects in Mexico. The company produced a total silver production of 555,721 ounces.

Gold Prices Declining on Federal Reserve Expectation

Gold prices declined slightly on Thursday to $1553.90 as the market discounted another round of quantitative easing by Federal Reserve. Triland Metals told toKitco News "The U.S. employment figures released today were the best since late 2008 and this added more confusion to the QE3 debate (the prospects of cold turkey looming for the addicts)." Federal Reserve Chairman Ben Bernanke is expected to discuss the outlook for monetary policy next week before Congress.Hot Sale Complete Crushing Plant
Spot market gold prices rallied toward the end of the day closing at $ 1572.10 per troy ounce in New York, a 0.3 percent drop from Wednesday's close of $1,576.60.
The market watchers have shifted their focus to the economic data China on Friday, which is expected to release reports on gross domestic product, industrial production and retail sales. Nouriel Roubini, economist and New York University professor explained to Bloomberg News that "The landing of China is becoming harder rather than softer. It's the perfect storm. You could have a collapse of the Eurozone, a U.S. double dip, hard landing of China, hard landing of emerging markets and a war in the Middle East. Next year could be a global perfect storm."
Historically gold prices have often benefited during global economic instability. Roubini indicates the prospect of "a freefall of markets and economy [in which] you don't have any more of a safety net of enough policy bullets to try to absorb the shocks, because we've been spending the last 4 years using 95 percent of those bullets. So we are running out of bullets."
Hot Sale Small Scale Chalcopyrite Ore Quarry EquipmentsCompany news
Goldcorp Inc. (TSE:G) has revised its annual production targets to a range of 2.35 million troy ounces to 2.45 million troy ounces of gold this year, compared to a previous estimate of 2.6 million ounces. The company cited operational issues at its Red Lake mine in Ontario and Penasquito mine in Mexico for the lower production targets. While the expectation of production represents a 6 to 10 percent reduction in target estimates, the market has punished the share price. Trading for Goldcorp shares have demonstrated a 12 percent decline since the announcement was made.
The Department of Mineral Resources has agreed to allow Gold Fields (NYSE:GFI) to re-open a part of its Kloof Driefontein Complex West section following last months tragic accident after which five employees lost their lives. The company is being cited as the largest source of mining related fatalities in South Africa with 10 deaths this year and a government directed enquiry is expected to follow.
A Kinross (TSE:K) chartered plane crashed shortly after take-off in the North African country of Mauritania, killing all seven occupants including the pilots. The company said the tragic accident has not affected normal mine operations or flights of personnel to and from the Tasiast mine.Hot Sale Small Scale Lead Zinc Ore Quarry Equipments
Investors may note that tragic accidents have become a part of the risk profile for all resource mining companies. While tragedies are a very unfortunate cost of mining production, some companies may face additional risks as a result of operating in more remote access environments. This can result in work stoppages or safety inspections which affect balance sheets and ultimately share price appreciation. According to the Global Mining & Metals Team at Ernst & Youngthe overall risk landscape in the mining sector has become significantly more treacherous during the past year. While it is widely known that mining is one of the riskiest commercial acitivites, the intensity of the risk environment can fluctuate considerably, as highlighted in the just released E&Y report identifying the top 10 risks facing miners in 2012.
Junior company news
Calico Resources Corp (TSXV:CKB,OTCQX:CVXHF) announced that Calico Resources USA Corporation completed its first significant permitting advance in the State of Oregon, with a "completeness determination" on a Notice of Intent to conduct mining operations on patented land at the Grassy Mountain Project.
Eagle Hill Exploration Corporation (TSXV:EAG) reported additional assay results from its current drill program at the Windfall Lake property. The results are part of an ongoing drill program at the project which aims to increase the current mineral resource estimate.