Reports of mineral wealth in Afghanistan exceeding $1 trillion may seem like terrific news for the war torn nation; however, when faced with the political realities, seem less attractive to international mining companies. Is the release of internal Pentagon memo’s just days before a Senate hearing a political ploy or a mining reality?
Despite the recent optimism across the metals sector, molybdenum prices are continuing on a downward trend. Last week, sluggish demand and high stockpiles caused European ferromolybdenum prices to drop below US $21 per kg. US market prices also slid.
Government spending will spark a recovery in steel demand towards the end of the year; but its mark on the molybdenum market will be limited. Demand for molybdenum in China likely will rise 6 percent in 2009, then slip to 52,800 tonnes in 2010 before growing again in 2011.
MKY Resources Limited is famous for its Georgetown Province which host several known high grade uranium-molybdenum deposits. At Maureen, Uranium-molybdenum mineralisation is hosted by Carboniferous volcanic sitting above an unconformity and adjacent to major structures on the margin of a circular magnetic feature interpreted. For full story, click here
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