General Moly & Hanlong agreed on Nevada Mine.

A source has said that a Chinese firm is in favor of purchasing 25% equity stake for $80m, along with other support made to fund a molybdenum mine in Nevada.

The agreement is based on Hanlong who are based in the USA having assurance of $665m loan from a bank in China, as well as obtaining 25% of General Molybdenum shares for $80m which is conditional when the loan has been completed.

The equity part of this loan is subject to the stock holder approval.

Both companies have also agreed that Hanlong will hold delivery points when the mine becomes functional.

Olympic Medals Recycled.

The gold, silver and bronze medallions presented to winning athletes as they tread on to the winners’ platform at theVancouver Winter Olympic Games could well be being made from the insides of an old computer, which means they are recycling metal.

The producer of the medals for this Olympics is for the first time using certain amounts of recycled matter into the medals. Medals in the past have been made of freshly mines ores.

South Africa may get $1,2bn rare-earth metals plant

Investor consortium Rare Metals Industries has launched a project intended at making titanium and other rare-earth metals complex in South Africa, which would charge between $1,2-billion and $1,5-billion.

The shareholders and partners in the project; the National Empowerment Fund, Industrial Development Corporation, Magnesium and Metals and, TJTI, have dedicated to evenly fund the R40-milllion for the prefeasibility cram for the project, which is at present happening.

The agreement amid the partners is planned in an unincorporated joint scheme, which would later be transformed into a shareholding company. RMI is a venture with South African, Russian and US investors.

Copper sinks on dollar, China tightening fears

Copper prices dropped Friday under the weight of a stronger dollar, mixed economic data in the United States and additional monetary narrowing moves in China, which triggered transformed worries about near-term command prospects in the world’s top metals consumer.

Benchmark copper for March delivery HGH0 on the New York Mercantile Exchange’s COMEX division shed 5.10 cents, or 1.6 percent, to finish at $3.0825 per lb, after dealing in a session range between $3.0340 and $3.14.

On the London Metal Exchange (LME), copper for three-month delivery MCU3 ended at $6,810 a tonne, down $130 from Thursday, when the metal used in power and construction hit a two-week high of $6,970 a tonne.

In a bid to cool the country’s quickly rising economy and combat price increases, China’s central bank surprised markets by raising banks’ reserve obligation 50 basis points effective on Feb. 25, the second such increase this year.

Google search.

When using the search engine ‘Google’ and typing in “Special Metals” we come up 6th out of about 10,300,000.

Thats the first page!

If you would like any of our services then please click here.

What is Zirconium?

Zirconium

Zirconium is a lustrous, greyish-white, soft, ductile, and malleable, it is highly resistant to corrosion by alkalis, acids, salt water, and other agents. The melting point of zirconium is approx 1855°C

Applications include; laboratory crucibles, metallurgical furnaces, surgical appliances, missile components and vacuum tube filaments.

About Tungsten.

Tungsten

Tungsten has the highest melting point of these refractory metals at 3422°C. It is very robust and has an extremely high tensile strength; it has the ability to be drawn into very thin wires. Tungsten’s corrosion resistance is also very good.

Applications include; lighting elements, X-ray targets, heating elements, missile components, and due to its high density is used as counter weights.