Huckleberry Mine applying for an extension

Huckleberry molybdenum Mine will be keeping workers going for another seven years if a proposed new expansion gets approved.

Huckleberry molybdenum Mine is located approximately 80 kilometres south west of Houston.

“We are looking to get an extension to 2021,” he said. “We are currently going through the permitting and feasibility process.”

“We may be expanding some temporary work initially to get it off the ground, but overall it’ll be the same workforce,” he said.

“That’s not going to change. We’re not going to do an expansion of the mill itself.”

Ceramic ball + metal socket approved

The first ever ceramic and metal total artificial hip system for patients as been approved this week.So, the hip joint consists of a ball-shaped bone at the top end of the thigh bone  that fits into a rounded socket in the pelvis.

When the joint becomes worn and torn, total hip replacement surgery is needed to remove and replace damaged bone and cartilage.

In particular, a shell or cup replaces the socket, and a stem is inserted into the thigh bone and the ball shaped bone at the top of the stem is fitted inside the curved artificial socket where the ball can slide around for movement.

The new hip system is the first to combine a ceramic ball and a metal socket.

Tungsten pit restart

The company said “global demand for tin and tungsten, a metalcommonly used for light bulb filament, was rising fast”.

A piece of tungsten was uncovered in 1867 at Hemerdon but commercial mining ended there in 1944 because of cheaper imports.

The tungsten mine will be 2,624 ft long, 1,476ft wide and 754ft deep.

Humphrey Hale, managing director, said: “The environment is important to all of us.

“We are controlled by Devon County Council and the Environment Agency.”

Gold price decreases.

Gold has fallen quickly after the Chinese government reported that it will raise reserve requirements for banks by another 50 basis points in the recent attempts to calm inflation.

This is already the 6th increase in 6 months.

The most recent consumer price index update shows that inflation in China increased to 5.5%  last month, the highest in 36 months.

China’s continuing efforts to curb growth in consumer prices dampensgold’s appeal as an inflation hedge.

The US dollar, which is seen as an alternative investment to gold, was broadly flat against other major currencies.

Kazakhmys gets $1.5bn loan from China

China Development bank will be helping out FTSE with boosting production of their copper mine by as much as 60% to meet growing demand from China, but lending them $1.5 billion.

“Chinese companies already control one-fifth of Kazakhstan’s oil production and they are expanding their presence more and more,” said Bulat Abilov, co-founder of the Azat party. “What’s going on at the oilfields is a threat to the independence of the country and national security.”

“We are delighted to be developing our relationship further with CDB. This funding will allow us to develop Aktogay and yet retain full ownership of the asset,” said Oleg Novachuk, Kazakhmys chief executive.

Copper Up on China Demand View

Copper futures snapped a four-session losing streak on strong economic data out of China, raising expectations that the world’s largest metals consumer will boost imports.

“You look at low [Chinese] inventory levels and today’s steady industrial demand, chances are the import numbers into China in the future might be healthier,” said Bart Melek, head of commodity strategy at TD Securities. “I suspect the market is seeing a bit more physical buying in China.”

“By July we will begin to see a steady increase in copper import levels,” says Barclays Capital base-metals analyst Nicholas Snowdon.

“Even that hand-to-mouth consumption has been enough to drastically draw down domestic stocks,” Barclays Capital’s Mr. Snowdon said.

Copper falls on economic concerns

LME copper prices fell 2 percent on Wednesday after Federal Reserve’s Bernanke bleak assessment of the US economy depressed market sentiment, and with a stronger dollar also weighing.

“Growth is slowing. Momentum is slowing,” said VTB Capital analyst Andrey Kryuchenkov, adding that the Fed comments only underlined what was evident from bearish data published last week.

A slightly stronger dollar was also weighing on metals.

The dollar recovered from a one-month low against a basket of currencies although it was trading lower against the yen, in a general flight away from risk to safety.

Investors were unwinding risky positions in stocks and commodity-linked currencies buying the dollar, yen and swiss franc.

A stronger US currency makes dollar-priced commodities costlier for holders of other currencies. Looking at fundamentals, the copper outlook seemed to be slowly improving, Kryuchenkov said.

“It seems like in China things are getting a bit better. Inventories are going down, which is ok, but I want to see LME copper in backwardation first.