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Germany Focusing on Canada's Mineral Wealth

Details: Category: Tungsten's News; Published on Friday, 11 January 2013 10:49; Hits: 2654

Canada is increasingly being looked upon by Germany as a source of supply for strategic raw materials.

The 500-member Canadian German Chamber of Industry and Commerce is promoting Canada as a stable and viable place to invest, establish a presence and form strategic partnerships.

With Canada acknowledged as a global mining hub and a friendly producer of metals, the chamber is pushing for more business relationships between the two countries as mineral resources are taking a new priority in the European country.

“The German companies are realizing that Canada has a lot of potential and it's politically stable,” said Aarti Soerensen, the chamber's manager of mining and mineral resources. “It's not a complicated country.”

Germany is one of the world's largest consumers of raw materials and its companies are increasingly looking for secure sources of resources to feed its high-tech manufacturing and processing sector.

Spurred by global events with China's increasing grip in accessing strategic resources and the race for Africa's mineral wealth, Germany's federal ministry of economics and technology launched a new raw materials strategy in 2010.

Germany has traditionally sourced its raw materials from China, Africa and South America.

In sizing up the volatility of commodity prices and general global uncertainty, the German government wants to diversify its sources of raw material supply.

“It really showed that Germany was in a difficult position over the last 20 years,” said Soerensen. “We don't have significant companies in the metals sector.”

Many companies are engaged in aggregate material, but not so much in strategic metals like tungsten, tantalum, germanium, zinc, copper, molybdenum used in specialty glass, metal alloys and the renewable energy sector.

“We have a number of processing companies with refineries that do value-added processing, and we have a huge sector of high-end manufacturing that depends on the imports of those metals,” said Soerensen

“But we depend 100 per cent on imports for all these metals that we don't have the ownership (stake) in the sources.”

Thanks to the Canadian German chamber, Canada is now one of the identified target markets.

“We believe that Canada has been underestimated and undervalued,” said Soerensen. “It's an ideal partnership with Canada being a net exporter of a lot of these minerals. Germany has equipment in the mining sector that could be very beneficial to supply this booming industry.”

With great examples of German success stories already operating in Canada, namely Siemens and Festo, Soerensen said there are cross-cultural values that offer a great fit toward better co-operation.

In seeking to promote closer ties on the mineral front, the chamber has established a Competence Centre for Mining and Mineral Resources.

In November, the chamber hosted a German business delegation and conference in Toronto that included one-on-one matchmaking meetings with potential Canadian partners.

Soerensen said there was a broad mix of visiting companies engaged in mineral exploration and contracting, software development, steel trading, supplying conveyors and ore-handling equipment, as well as one fully integrated mining company seeking off-take agreements and to make a long-term investment in a project development.

Most of the one-on-ones took place in Toronto, but one company did travel to Sudbury to meet with Wallbridge Mining officials.

She expects some German companies will return for next spring's Prospectors and Developers Association of Canada (PDAC) show in Toronto when the chamber intends to have an expanded presence.

“I think there will be around 25 companies here at PDAC.”

Soerensen said if there's sufficient interest from Canadian mining-related companies and organizations, she wouldn't rule out a return trade mission to Germany in the near future.

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US Tungsten Corp. Announces New Board Member and Officer

Details: Category: Tungsten's News; Published on Friday, 11 January 2013 10:06; Hits: 2600

HENDERSON, NV - Jan 10, 2013 - US Tungsten Corp. ("USTU", the "Company")

The company is pleased to announce that as of January 8, 2012 Mr. Barry Wattenberg was appointed as Treasurer and as a Director of the company.

Mr. Wattenberg, 57, graduated Carnegie-Mellon University in 1977 with degrees in B.S. Management and B.S. Economics. He has served in various roles within the securities industry and on the board of several small publicly held companies.

Matthew Markin, President, stated, "I am happy to have Barry joining me at the Company. His proven ability to recruit top experts in their field(s), and create as well as organize a first class management team will serve the company well. Mr. Wattenberg will be tasked with the search committee responsibility to fill the roles of CEO, Geologist/Advisor, Legal and Industry Advisor and other such experts as this project requires."

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Tungsten Mining NL on Tungsten Investing News

Details: Category: Tungsten's News; Published on Friday, 11 January 2013 09:20; Hits: 2772

Resource Investing News is pleased to announce the launch of Tungsten Mining NL on Tungsten Investing News.

Tungsten Mining NL is an Australian based resources company listed on the Australian Stock Exchange, that has an experienced management team with a proven track record of tungsten mine development. The Company’s prime focus is its high-grade, fully permitted Kilba project in Western Australia.

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N.S. Firm Signs on for Nevada Mining Site

Details: Category: Tungsten's News; Published on Friday, 11 January 2013 09:52; Hits: 2726

Bedford-based company inks lease, has high hopes for silver, gold finds on property

NSGold Corp. of Bedford has signed a lease and purchase option agreement with Cerro Rico Ventures LLC for a property in Humboldt County, Nev.

“We are hopeful for gold and silver,’” Glenn Holmes, NSGold’s chief executive officer, said in an interview Thursday.

Holmes said the Silver Hill property, which includes 36 unpatented claims, is in an area with producing gold mines.

“It’s known for gold production.”

The property also has potential silver, copper, arsenic and tungsten deposits, Holmes said.

Under the deal’s terms, NSGold, through its wholly owned subsidiary, NSGold Nevada Inc., may, at any time during the 10-year agreement term, purchase a 100 per cent interest in the Silver Hill property by making a cash payment of US$1.25 million.

The agreement requires NSGold to make a US$40,000 payment upon signing and to make advance minimum royalty payments of US$25,000 on or before the first anniversary of the signing of the deal, US$35,000 on or before the second anniversary of signing and $50,000 on or before the third and subsequent anniversaries.

The advance minimum royalty payments will be credited against a three per cent production royalty based on net smelter returns from production or sale of minerals.

NSGold will have the right to purchase two per cent of the production royalty for US$1.5million before production begins.

Holmes said the company plans to do initial prospecting, sampling and mapping of the Silver Hill property — “a typical first pass” — in the next quarter that will help determine subsequent development work.

NSGold’s principal project is the Mooseland gold property on the Eastern Shore, where it recently completed a third round of drilling.

NSGold shares were trading Thursday for 10 cents on the TSX Venture Exchange, up a cent from their previous close.

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Allegheny Technologies Announces Webcast of Conference Call

Details: Category: Tungsten's News; Published on Thursday, 10 January 2013 11:26; Hits: 2509

PITTSBURGH--Allegheny Technologies Incorporated will provide live Internet listening access to its conference call with investors and analysts scheduled for Wednesday, January 23, 2013, at 1:00 p.m. ET. The conference call will be conducted after the Company's planned release of fourth quarter and full-year 2012 results. To access the broadcast, go to the home page and select "Conference Call". Replay of the conference call will be available on the ATI website.

Building the World's Best Specialty Metals Company

Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of approximately $5.2 billion for the last twelve months. ATI has approximately 11,300 full-time employees world-wide who use innovative technologies to offer global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, oil and gas/chemical process industry, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Our products include titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, niobium, tungsten materials, forgings, castings, and fabrication and machining capabilities.

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