News around the world - 500 Beiträge pro Seite (Seite 26)

[Popeye82]

SemBioSys enters into commercialization and supply agreement for plant-made chymosin protein - Reuters, CALGARY - Oct 22, 2009
www.reuters.com/article/pressRelease/idUS117753+22-Oct-2009+…

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Range Issues $25,238,000 in Subscription Receipts for Middle East Project - Oct 22, 2009
www.marketwirecanada.com/mw/rel_ca.jsp?id=1064095&k=RGO

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Anglo American Chooses Brazil as its Iron Hub - Mining Technology - 22 October 2009
www.mining-technology.com/news/news67615.html?WT.mc_id=DN_Ne…

"Anglo American is establishing a single global hub for marketing its Brazilian and South African iron-ore in expectation of massive upcoming iron-ore trading volumes.

The diversified miner is projected to have an annual production capacity of more than 150 million tonnes of iron-ore from its Brazilian and South African iron-ore operations by 2016, according to Mining Weekly Online.

Anglo's iron-ore projects have the capacity to produce 80 million tonnes of output per annum.

Along with conceptual projects, there is the potential to increase the capacity beyond 150 million tonnes per annum by 2016 with new projects, such as the Amapa project in Brazil and Sishen expansion project (SEP) in South Africa.

Anglo also has approval for the Sishen South and Minas-Rio projects, and a SEP 2 project is currently being considered.

With these projects on the cards, Brazil is likely to produce 60% of Anglo’s output.

The projects will help establish Anglo as the fourth largest iron-ore producer, ahead of Australia's FMG. "

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Chinese Companies Explore Canadian Potash Potential - Mining Technology - 22 October 2009
www.mining-technology.com/news/news67610.html?WT.mc_id=DN_Ne…

"China's Zhongchuan International Mining and Taiji Resources are exploring for potash in the Saskatchewan province in Canada, as overseas investors push for an increase in agricultural nutrients.

The Saskatchewan Government awarded exploration rights to Zhongchuan in September 2008, government spokesman Bob Ellis said.

Zhongchuan's Canadian subsidiary Canada Jiuyi is drilling and carrying out seismic tests on a 96km2 site near the city of Saskatoon.

If the site is developed it could annually generate three million tonnes of potash, the Xinhua news agency said.

According to the agreement, Zhongchuan can explore for potash for up to four years and can apply for extensions.

Taiji Resources has active exploration rights in Saskatchewan, Ellis said.

Prohibitive mine-building costs have led a few potash exploration companies to seek foreign investors, or strategic players that are keen on partnering in their projects.

Juniors companies including Potash One, Athabasca Potash and Western Potash are reportedly in negotiations with Chinese and Indian companies that want to secure potash supplies to meet escalating demand for fertiliser in their countries.

China is the world's biggest buyer of potash, an essential mineral required for plant growth. "

[Popeye82]

Matt Badiali: Using CO2 to Expand Low-Carbon Oil Production…and Other Developments - The Energy Report - 10/22/2009
www.theenergyreport.com/pub/na_u/1163

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Victoria Intersects Wide Gold Zone at Santa Fe of 309m Grading 2.25 g/t - Oct 22, 2009
www.marketwire.com/press-release/Victoria-Gold-Corp-TSX-VENT…

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"Die Geschichte des Erdöls
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Ab heute möchte ich Ihnen noch einmal eine interessante und neu-überarbeitete Daily-Reihe vorstellen. Diese trägt den Titel: Investieren in Öl".

Das Erdöl ist neben dem Gold der wohl wichtigste und meist genannte Rohstoff in den Medien, insbesondere natürlich in den Finanzmedien. Nicht nur, dass Erdöl in unserer modernen Gesellschaft der Rohstoff ist der eben jene buchstäblich in Bewegung hält, Erdöl ist grundlegend der wichtigste Energierohstoff der Welt.

Auch deshalb gehört der Ölpreis in unserer Gesellschaft zu den Schlüsselfaktoren der Weltwirtschaft. Kein Wunder, dass die Ölpreiskurve bisweilen wie die Chronologie der Weltpolitik anmutet. Denn der Ölpreis reflektiert nicht nur das tatsächliche Angebots-und Nachfrageverhältnis, sondern auch politisch und wirtschaftlich heiße Phasen, Krisen und natürlich auch die Förderpolitik der Produzenten.


Die Geschichte des Erdöls

Die Geschichte des Rohstoffs Erdöl beginnt nachweislich schon einige Tausend Jahre vor Christus. Bereits im alten Mesopotamien wurde Erdöl als Bitumen genutzt. Hierfür diente an die Oberfläche quellendes Erdöl, welches bei Kontakt mit Sauerstoff eine zähe, klebrige Struktur ausbildete. Dieses Bitumen wurde durch Vermischung mit anderen Naturprodukten als Abdichtungsmaterial im Schiffsbau genutzt.

Die alten Babylonier revolutionierten die Verwendung von Erdöl, indem sie seine Eigenschaft als Mittel für Beleuchtungszwecke erkannten. Sie gaben dem Erdöl den Namen Naphta (von nabatu-leuchten). Ebenfalls nutzten sie Bitumen zur Asphaltierung wichtiger Zufahrtsstraßen.

Die Römer entdeckten schließlich in Ägypten das Steinöl (oleum petrae"). Aus diesem Ursprung stammt unser heutiges Wort Petroleum. Man vermutet, dass die Römische Armee Erdöl bereits als Schmierstoff für Achsen und Wagen nutzte.

Die Byzantiner nutzten Erdöl nachweislich zur Verwendung als Kriegswaffe, dem so genannten griechischen Feuer", einer Art frühem Flammenwerfer.


Die Revolution des Erdöls im 19. Jahrhundert

Im 19. Jahrhundert begann im Zuge der Industrialisierung und Modernisierung die gezielte Ausbeutung von Erdöllagerstätten. Ursprünglich suchte man nach einem Brennstoff für Lampen. Bis dahin wurden hauptsächlich Walöl und Talgkerzen als Licht spendende Rohstoffe genutzt. Doch die Preise für Walöl waren seit den 1840er Jahren regelrecht explodiert, aufgrund der nahezu Ausrottung der Pottwale und bei Talgkerzen hatte man mit unangenehmen olfaktorischen Nebenwirkungen zu kämpfen. Also besann man sich auf das alte Steinöl, welches bis dahin ein eher unwillkommenes Nebenprodukt bei der Bohrung nach Salzlagerstätten gewesen war.

1855 entdeckte der amerikanische Chemiker Benjamin Silliman, dass aus Erdöl durch Destillation Petroleum (als Lampenöl), Benzin (damals hatte man noch keine Verwendung dafür), Paraffin (für Kerzen), Schmierstoffe, Benzol (als Lösungsmittel) und Teer hergestellt werden konnten.

1854 fand in Polen die erste Ölförderung im Untertagebau statt.

1856 wurden in Schleswig-Holstein/Norddeutschland die ersten gezielten Bohrungen nach Erdöl durchgeführt.

1858 verdrängte das von Samuel Kier in seiner Salzmine geförderte und zu Lampenöl destillierte Rohöl die anderen Lampenöle in New York vom Markt. Damit war der erste Durchbruch des Erdöls gelungen. Schnell stieg auch die Beliebtheit des Erdöls als Schmierstoff für Maschinen. Vor allem die Textilindustrie nutzte bevorzugt den aus Erdöl hergestellten Schmierstoff. Der Preis stieg schließlich von ursprünglich 75 US-Cent auf 2 US-Dollar pro Gallone an.

Die Revolution in der Erdölförderung und damit die Entstehung der Erdölindustrie wird aber auf den 27. August 1859 datiert.

Damals entdeckte Colonel Edwin L. Drake in Pennsylvania/USA, im Zuge der geplanten Ölbohrungen im Auftrag der Seneca Oil Company das bis dahin größte Erdölvorkommen in 21 Meter Tiefe im Oil Creek. Hier entstand auch die erste Erdölraffinerie im Zuge dieses Projekts.


Erdöl und das Automobilzeitalter
von Miriam Kraus


Nach dem ersten Durchbruch in der Erdölförderung verlor das alte Steinöl zunächst wieder an Attraktivität nach der Einführung des elektrischen Lichts.

Dies änderte sich aber durch die Erfindung des Automobils mit Verbrennungsmotor als Antrieb, 1886 durch den Deutschen Carl Benz und die vorherige Entwicklung des Otto-Motors durch Nikolaus August Otto (Patentierung des Viertakt-Ottomotors 1876).

Doch insbesondere bedeutsam ist in diesem Zusammenhang der US-amerikanische Tycoon John D. Rockefeller. Rockefeller war Mitbegründer einer Erdölraffinerie aus der 1870 die Standard Oil Company hervorging.

Bis in die 1920er Jahre hinein existierten neben dem mit Benzin betriebenen Automobil noch weitere Antriebsarten wie Petroleum - und Spiritusmotoren. Schließlich setzte sich das Benzin als Ottokraftstoff durch, einerseits aufgrund der höheren Energiedichte und andererseits forcierte die Familie Rockefeller die Verwendung von Benzin als Kraftstoff.

Schließlich wurde das Automobil zum Symbol für Fortschritt und Modernisierung, Ford baute es am Fließband und seine enorme Bedeutung verstärkte sich in Kriegszeiten zudem.


Die Entwicklung des Ölpreises nach 1945

Lange Zeit wurde der Ölpreis stark reguliert. Die multinationalen und privatwirtschaftlichen Ölgesellschaften hielten den Ölhandel fest in der Hand und legten in Absprachen die Listenpreise für Erdöl fest. Noch zu Beginn der 70er Jahre kostete ein Barrel Erdöl zwischen 2,50 und 3 US-Dollar. So viel wie nach dem Zweiten Weltkrieg.

Doch die Nachfrage war steigend. Die Menschen in den USA und Europa fuhren Autos, immer mehr und in allen sozialen Schichten.

Die Gewinne der Ölgesellschaften stiegen, angeheizt durch Konjunkturentwicklung, steigenden Wohlstand und Konsum in den Industrienationen.

Angesichts dessen verlangten die Förderländer natürlich eine stärkere Gewinnbeteiligung, während die Ölkonzerne versuchten die Listenpreise gering zu halten.

Dieser Zustand führte schließlich zur Gründung der OPEC 1960....

So long liebe Leser...sie merken es schon... die Historie fasziniert mich sehr...denn wie heißt es so schön: Nur wer es vermag in die Vergangenheit zu sehen, der darf auch in die Zukunft blicken...nun gut, da der historische Rückblick wieder einmal den Rahmen eines Dailys sprengt geht es morgen weiter mit der Entwicklung der OPEC...bis morgen

Ihre Miriam Kraus "

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In U.S., less education means more H1N1 concern - Reuters, WASHINGTON - 23 OCT 2009 06:48 BST

- By David Morgan -

- WASHINGTON (Reuters) - Low-income Americans with no more than a high school education appear more likely to get vaccinated against H1N1 swine flu than people with more money and better schooling, according to a poll released on Friday. -
www.reuters.com/article/companyNewsAndPR/idUSN22534055200910…

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U.S. airliner loses contact, overflies destination - Reuters, WASHINGTON - 22 OCT 2009 23:47 BST

- WASHINGTON (Reuters) - A Northwest Airlines flight carrying 144 passengers from San Diego to Minneapolis lost contact with air controllers for more than an hour and overflew its destination by 150 miles, officials said on Thursday. -
www.reuters.com/article/newsOne/idUSTRE59L6CZ20091023

"WASHINGTON (Reuters) - A Northwest Airlines flight carrying 144 passengers from San Diego to Minneapolis lost contact with air controllers for more than an hour and overflew its destination by 150 miles, officials said on Thursday.

The National Transportation Safety Board said the two pilots of Flight 188, an Airbus A320, told authorities after landing safely on Wednesday night that they had become distracted during a "heated discussion about airline policy."

The NTSB said on Thursday it would review the plane's flight data and voice recorders and interview the pilots. Among other issues, investigators will explore crew fatigue to see if the pilots were tired, the NTSB said.

Northwest is owned by Delta Air Lines, which said the pilots had been relieved from active flying pending completion of the NTSB investigation and an internal probe by Delta.

Safety board investigations can take several months to complete.

The plane was flying at 37,000 feet when it lost radio contact between 8 p.m. and 9:15 p.m. EDT.

Flight 188 was 150 miles off course by the time the crew re-established communications and requested permission to turn around, officials said.

Airport police boarded the plane in Minneapolis to ensure there had not been a hijacking or other criminal activity, a spokesman for the Minneapolis-St Paul Airport said.

Military authorities were alerted during the incident and put fighter jets on stand-by status temporarily, the North American Aerospace Defense Command said.

It was the second unusual incident involving a U.S. airliner this week.

On Monday, a Delta Boeing 767 with 182 passengers landed on a taxiway instead of its assigned runway at Atlanta's Hartsfield airport. The taxiway, which was parallel to the runway, was active but cleared of ground traffic.

(Reporting by John Crawley in Washington, Karen Jacobs in Atlanta and Andrew Stern in Chicago; Editing by Peter Cooney) "

[Popeye82]

Today's headlines - Point Carbon - Oct 22, 2009
www.pointcarbon.com

"Today's headlines

*RGGI falls 2% amid thin trade
*Fewer American believe in climate change: poll
*UN eyes easier process for small scale CDM
*EUAs lose 2%
*Norway eyes CDM investment in India
*New facility aims to spur CDM in Africa
*AAU banking divides EU states
*Options battle looms for 2009 EUA
*Fortum’s CO2 emissions up 11%
*CDM to have minor role after 2012: EU
*Australia puts carbon law to parliament "

[Popeye82]

"Warum einige Emerging Markets besonders großes Potential haben
- Daniel Wilhelmi -


Liebe Leserin, lieber Leser,

Wie ich Ihnen im letzten Profit Radar erklärte, sind die „Next-11"-Emerging Markets eine extrem heterogene Gruppe aus den unterschiedlichsten Länder in den unterschiedlichsten Entwicklungsstadien.

So finden wir dort neben weit entwickelten Emerging Markets (wie Mexiko und Südkorea) und einigen Emerging Markets der 2. Reihe (Ägypten, Indonesien und Türkei) ebenso Schwellenländer aus der 3. Reihe (Nigeria, Pakistan, Philippinen, Vietnam) und sogar einige echte Entwicklungsländer (Bangladesh, Iran) darunter.

Denn das Entwicklungsstadium eines Emerging Markets ist eben kein Auswahlkriterium bei den N-11-Ländern. Die entscheidenden Kriterien sind vielmehr die Demographie des Landes, das Entwicklungspotential der Volkswirtschaften auf dem Weltmarkt und das Entwicklungspotential eines überdurchschnittlich großen eigenen Binnenmarktes. Deshalb finden wir unter den „N-11" auch keine osteuropäischen Länder wie Tschechien (gut 10 Mio. Einwohner) oder auch keine arabischen Länder.

Eines ist bei einer Betrachtung der „Next-11" aber auch klar: Ein Investment in die N-11-Länder ist primär ein Investment in die Zukunft. Die ferne Zukunft. Denn bis auf Südkorea und eingeschränkt Mexiko befinden sich die Emerging Markets und Entwicklungsländer noch in frühen Anfangsstadien.


Anleger brauchen einen langfristigen Anlagehorizont

Nicht umsonst heißt Vietnam in Fachkreisen „Little China" und liegt in seiner Entwicklung gut 15 Jahre hinter China zurück. Und Vietnam ist in dieser Gruppe noch nicht mal das Land mit dem niedrigsten Entwicklungsstand! Dies sind sehr junge Länder, die sich noch in frühen Entwicklungsstadien befinden. Deshalb heißen sie ja auch die „Nächsten 11".

Deshalb sind diese Emerging Markets nur etwas für echte Pioniere unter den Anleger. Und man muss deshalb natürlich einen langfristigen Anlagehorizont haben. Auch in diesen Märkten kann man natürlich kurzfristige Schwankungen traden.

Aber die eigentliche Story ist es, den Aufstieg dieser jungen, teilweise sehr jungen, Emerging Markets als Investor mitzunehmen. Das bedeutet: Als langfristiger Anleger müssen Sie einen Zeithorizont von mindestens 5 Jahren haben. Und die Betonung liegt hier auf dem Wort „mindestens".

Das klingt endlos lang. Und an der Börse wollen wir alle schnell Gewinne machen. Aber Sie müssen hier zuerst in volkswirtschaftlichen Dimensionen denken (und in dementsprechenden Investmentzeiträumen). Denken Sie nur das deutsche Wirtschaftswunder. Das entstand auch nicht über Nacht.

Dazu kommt noch ein sehr seltsames Phänomen der Kapitalmärkte der Emerging Markets, auf das nur sehr selten eingegangen wird. Der Grund: So richtig schlüssig ist es nicht zu erklären. Aber ich werde Ihnen im nächsten Profit Radar einige der Erklärungen für dieses Phänomen liefern.


Have a successful day,

Ihr

Daniel Wilhelmi "

[Popeye82]

Olympic Dam Force Majeur Affects Global Copper Output - Mining Technology - 23 October 2009
www.mining-technology.com/news/news67863.html?WT.mc_id=DN_Ne…

"Damage to BHP Billiton's Olympic Dam copper / uranium mine in Australia has caused it to declare a force majeure, with output likely to see an impact.

On 6 October the automated haulage system at the mine's Clark Shaft, which is the main system used to transport underground ore to the surface for processing, broke down during operations.

According to industry sources, a loaded ore skip fell down the shaft, causing damage to the shaft and the gears and wheels that convey the ore to the surface, according to Mining Daily.

Hoisting was ongoing at the secondary Whenan Shaft, however, this would produce only 25% of capacity for the third quarter of the 2010 financial year.

Macquire Bank was quoted by Reuters as saying that the global copper market could lose roughly 50,000t of supply in 2009 due to the failure.

BHP's copper production in the September quarter declined by 8% to 283, 900t due to maintenance activities at Olympic Dam and Escondida in Chile.

The company also cautioned that the Olympic Dam damage would adversely affect uranium production as it was expected that the Clark shaft would not be operational for up to six months.

"We have advised affected copper and uranium customers of a force majeure on contracts and we expect to return to full production in the third quarter of the 2010 financial year," BHP said. "

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Global Skills Crisis Threatens Miners - Mining Technology - 23 October 2009
www.mining-technology.com/news/news67818.html?WT.mc_id=DN_Ne…

"The global mining and metals sector is experiencing a critical labour deficiency, according to a report by Ernst & Young.

An inadequate number of graduates, a rise in mining production in developing countries, an ageing workforce and "brain drain" in South Africa are putting the industry at risk.

Meanwhile, the industry’s demand for staff is on the rise, forcing mining companies to think of different ways to tackle the problem.

Countries such as China, India and Russia are witnessing a deficiency of skilled labour, with workers migrating to developed countries.

And in South Africa, the HIV/AIDS epidemic and a shortage of skilled staff are injuring the industry.

In the past four decades nearly 33% of South African engineering graduates migrated to foreign countries for work. Such worldwide restraints are likely to persist.

Even the number of competent graduates from universities is inadequate, which has increased competition for skilled workers and the expected salaries of potential candidates.

Mining costs have risen as a result of the skills crisis. Ernst & Young predicts this is likely to continue with escalating raw material prices and equipment shortages.

The metals and mining sector's expert workforce is also growing older and experienced employees are heading for retirement at a faster rate than they can be replaced.

In Canada alone, four in ten mining workers are expected to retire by 2014, according to the Ernst & Young report. "

[Popeye82]

Senomyx Receives Generally Recognized as Safe(GRAS) Determination for S6973 Sucrose Enhancer; S6973 is a new flavor ingredient that enables up to 50% reduction of sucrose while maintaining the sweet taste of natural sugar - Oct 23, 2009
http://phx.corporate-ir.net/phoenix.zhtml?c=127189&p=irol-ne…

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Klimakonferenz Kopenhagen: Erfolg ein politisches Muss - DB Research - Oct 23, 2009

- Die Erwartungen an die Klimakonferenz in Kopenhagen, die Anfang Dezember stattfinden wird, sind immens. Hier sollen die Weichen für die internationale Klimapolitik der nächsten Jahre gestellt werden. Bereits im Vorfeld der Konferenz werden sehr viele Streitpunkte diskutiert. Es geht um die Festlegung von Reduktionszielen für Treibhausgase, die Regelungen zu Finanz- und Technologietransfers, geeignete Klimaschutzinstrumente oder die Bedeutung von Anpassungsmaßnahmen. Angesichts der vielen prinzipiellen Herausforderungen und offener Detailfragen fällt es schwer, für Kopenhagen optimistisch zu sein. Ein Fehlschlag wäre aber politisch kaum zu vermitteln und ist daher unwahrscheinlich. -
www.dbresearch.de/PROD/DBR_INTERNET_DE-PROD/PROD000000000024…

[Popeye82]

Rio Tinto, BHP Cancel Joint Venture Plans - Mining Technology - 19 October 2009
www.mining-technology.com/news/news67349.html?mxmroi=1370053…

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Company results cast doubt on quick recovery - Reuters, LONDON - 22 OCT 2009 13:39 BST

- Mark Potter -

- LONDON (Reuters) - Company earnings suggest global economic recovery will be fragile well into next year, with consumers reluctant to spend and businesses fearful to invest.

+ ECB's Weber sees no reason to be "overly optimistic"

+ Ericsson misses Q3 forecasts as sales fall

+ China Q3 growth picks up, keeps ultra-loose policies

+ British retail sales flat in September

+ Global stocks fall 0.7 pct -
www.reuters.com/article/marketsNews/idUSLM11585520091022

"LONDON, Oct 22 (Reuters) - Company earnings suggest global economic recovery will be fragile well into next year, with consumers reluctant to spend and businesses fearful to invest.

Several major countries have moved out of recession this year and markets have rallied on signs the world economy was recovering more quickly than expected from the worst recession since the 1930s.

But many companies have yet to start investing in new production or people, with manufacturers cutting costs and banks relying on rising markets to boost their bottom lines.

"We have seen a remarkable stabilisation around the world in recent months," European Central Bank governing council member Axel Weber said in the text of a speech to be given at the Israeli Presidential Conference. [ID:nLAG003853]

"(But) forecast risks are still elevated, and there is no reason to be overly optimistic given the fragility of the recovery."

Early signs from third-quarter U.S. company results had been encouraging. At the end of last week, when 10 percent of S&P 500 Index .SPX firms had reported, some 82 percent had beaten forecasts, according to Thomson Reuters Proprietary Research.

Results this week, however, have been more mixed, with online marketplace eBay (EBAY.O) and aircraft maker Boeing (BA.N) disappointing investors. [ID:nN2091973] [ID:nN20433045]

Of the 27 Stoxx600 European companies that have reported third-quarter earnings so far, 15 have beaten expectations while 12 have fallen short, according to the Thomson Reuters data.

Ericsson (ERICb.ST), the world's biggest maker of telecoms network equipment, reported falling sales and lower-than-expected core earnings on Thursday, showing that the recession still has some bite. [ID:nLM420454]

Many companies that have beaten forecasts have also relied on cost cutting rather than increased demand.

"The clear improvement in earnings ... was not achieved through market recovery," said European paper and board maker Stora Enso (STERV.HE) as it topped quarterly earnings forecasts. "It was significantly due to our own actions."[ID:nLL356398]

British confectioner Cadbury (CBRY.L), a takeover target for U.S. rival Kraft (KFT.N), on Wednesday raised its growth forecast for profit margins in part by cutting marketing spend as a percentage of sales. [ID:nLK594844]

"Top-line growth hasn't been as good as some people were hoping and that's cast some doubts over the recovery," said Franz Wenzel, strategist at AXA Investment Managers.


END OF THE "RECOVERY TRADE"

Policymakers had hoped China would lead the world out of recession, but an increase in third quarter growth figures to 8.9 percent year-on-year failed to cheer investors.

The government also said it would stick to the ultra-loose policies it has been following for the past year, signalling the recovery needs time to take hold. [ID:nSP452724]

In France, business confidence rose to the highest level in a year in October, but the figures were below their long-term average. [nLM463521]

And in Britain, retail sales were flat in September for the second month in a row, confounding expectations of a 0.5 percent rise. [ID:nLM512181]

"The fact that consumers seem not to be putting their money where their mouth is also casts some added doubt over the strength of the nascent recovery" said Richard McGuire, an analyst at RBC Capital Markets.

British retail billionaire Philip Green, owner of retail group Arcadia, said stock markets had got ahead of themselves.

"I think it's going to be hard work ahead, a hard slog," he told Reuters in an interview, pointing to the likelihood that taxes and unemployment will rise next year. [ID:nLM407489]

World stocks as measured by MSCI .MIWD00000PUS, which have rallied around 75 percent since March on hopes of a rapid recovery, were down 0.7 percent by 1150 GMT.

Valentijn van Nieuwenhuijzen, head of fixed income strategy and economics at ING Investment Management, said the time for buying a broad range of assets as a "recovery play" had passed and investors now need to be more selective.

"The remainder of 2009 and 2010 will be characterised by divergence. In particular, those countries which have seen only a mild slowdown, a relatively vigorous pick-up and only a muted fall in inflation are likely to start tightening monetary policy sooner rather than later," he said, pointing to the tightening which has already taken place in Australia and Israel.

He expects policy to remain on hold in the United States and Europe "for the foreseeable future as disinflationary forces are expected to intensify". (Editing by Elizabeth Piper) "

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EU wants single money market fund definition - Reuters, LONDON - 21 OCT 2009 08:32 BST

- LONDON (Reuters) - The European Union's national securities regulators unveiled proposals to better protect consumers who invest in money market funds. -
www.reuters.com/article/personalFinanceNews/idUKLNE59K01Y200…

"LONDON (Reuters) - The European Union's national securities regulators unveiled proposals to better protect consumers who invest in money market funds.

"The key purpose behind a harmonised definition of money market fund is improved investor protection," the Committee of European Securities Regulators (CESR) said in a statement.

"This reflects the fact that investors in money market funds expect the capital value of their investment to be maintained while retaining the ability to withdraw their capital on a daily basis," CESR said.

Money market funds are used by investors as an alternative to parking cash in a bank account. The funds invest in commercial and other paper.

But some of the funds held highly-rated asset-backed securities as the credit crunch began unfolding in 2007.

These securities were later downgraded, showing poor levels of liquidity, particularly after the crash of Lehman Brothers bank in September 2008, making it hard for investors to withdraw the funds.

The U.S. Securities and Exchange Commission is also looking to make them less risky, such as by prohibiting illiquid assets.

The U.S. Reserve Primary Fund was forced to "break the buck" in September 2008 as asset prices dwindled and redemption requests escalated. A money market fund is said to have broken the buck when its net asset value falls below $1, 1 euro or 1 pound.

CESR has proposed a two-tiered approach to a definition -- on for short-term funds, the other for longer term funds. They would apply to European money market funds that are sold under the EU legal framework known as UCITS.

It should be pointed out to investors that there is a difference between the money market fund and a bank deposit.

A public consultation on the CESR definitions will close on 31 December CESR members from the 27 EU states have agreed to enforce the definitions on money market funds sold after the guidelines take effect, with existing funds required to comply within a year.

(Reporting by Huw Jones, editing by Ron Askew) "

[Popeye82]

Oil, gas well drilling hits "bottom," Precision Trust says - Ocean Resources - (2009-10-23)
www.ocean-resources.com/ournews.php?NewsID=8190

"Canada’s hard hit oil and gas sector has “reached a bottom” but it is too early to predict a recovery is on the way, Precision Drilling Trust said Thursday.

The country’s largest oil and drilling contractor said the number of working rigs rose in both Canada and the U.S in its third quarter.

“In Canada, coming out of the spring break up, Precision returned rigs to work and currently has 60 drilling rigs working,” the company said in a news release.

“Precision believes that we have reached a bottom in Canadian activity. One of the reasons for this belief is that Canadian customers are interested in locking in today's depressed day rates for the upcoming winter drilling season.”

But the company said that despite encouraging customer demand in response to rising oil prices and shale gas activity “it is far too early to make the call for a meaningful recovery.”

The Petroleum Services Association of Canada (PSAC) has estimated at least 10,000 jobs have been lost from the Canadian energy service sector since January.

PSAC predicts 6,265 wells will be drilled in Alberta in 2009, a 46-percent decrease from 2008 levels.

Depressed activity was reflected in Precision’s quarterly results, with the company posting a 13 per cent drop in profit.

The company, which last year expanded into the United States with the $2 billion acquisition of Grey Wolf Inc, earned $71.7 million, or 25 cents per unit, down from $82.3 million, or 61 cents, in the third quarter. Revenue fell 11 per cent to $253.3 million. "

[Popeye82]

Vulcan Minerals Inc.-Commences Red Brook #2 Well - Oct 23, 2009
www.marketwire.com/press-release/Vulcan-Minerals-Inc-TSX-VEN…

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Zecotek Increases and Closes C$3.7 Million Private Placement - Oct 23, 2009
www.marketwire.com/press-release/Zecotek-Photonics-Inc-TSX-V…

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Chemaphor Inc. Raises Funds in Private Placement - Oct 23, 2009
www.marketwire.com/press-release/Chemaphor-Inc-TSX-VENTURE-C…

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IITA establishes southern Africa regional support hub for agric research in Zambia - CGIAR - October 19, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=944

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World Food Day 2009: Fighting food insecurity and poverty through agricultural research - CGIAR - October 16, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=943

"This year, more than one billion people will be hungry, the highest number ever in human history.

As the spectre of hunger and poverty continue to rear its ugly head, national and international research organizations are seeking ways to fight back. But what exactly are these organizations doing to ease the plight of the world’s hungry and poor?

In line with this year’s World Food Day theme of “Feeding the world in times of crisis”, Hartmann, the Director General of IITA and dubbed by the BBC as the ‘Hat man who helps Africa’, shares his thoughts on how agricultural research is helping to overcome food insecurity and poverty:


Why has food security remained elusive in Africa?
That is a tough question. Poverty is the main reason many are hungry in Africa. Poverty and hunger are complex issues with political and economic dimensions.

The farmers are mostly small holder and subsistence, and lack access to micro-credits and farming inputs such as fertilizers, good seeds and pesticides, and markets. Over 70 percent depend on rainfed agriculture which is risky.

In some countries the ‘food basket’ is too dependent on a few crops. Cereal dependent countries are often on the famine lists, whereas cultures that have more complex diets have more protection. If one crop fails, they can consume more of the others. But poverty is not the only reason.

Conflicts contribute greatly to food insecurity. Bad governance, where the countries have not invested adequately in agriculture and infrastructure also contributes, as did the policies imposed on Africa by international financial institutions in the 80’s and 90’s.


Do you think the current food crisis will get better or worse?
The crisis created by rising food prices has cooled down but everyone knows this is just temporary. It will emerge again as economies recover from this recession.

However, the food crisis can be turned into opportunities for a food secure future. It has led to renewed interest in agriculture and is an opportunity for African countries to reenergize their agricultural sectors.

Countries need to diversify their food systems and to trade more regionally and be less depended on food imports. Those worst hit by the food crisis were heavily dependent on internationally-traded commodities such as rice, maize, and wheat. While prices for these commodities increased, prices for African commodities such as cassava, cowpea, yams and so on, remained more or less stable.

The most effective way to end hunger and poverty is by increasing investments in the agricultural sector to improve productivity, diversify food systems, and intensify food processing and regional trade for wealth generation. We need not re-invent the wheel, technologies and know-how exist, they just need to be put into practice.


Can agric research resolve the food crisis in the short and long term?
Approaches to address food availability, accessibility and utilization should be grounded on science and facts generated through research. Research can provides those facts and relevant technologies.

In the short term, working on markets to stimulate production and reduce food prices is necessary. In the longer terms, consumers in some countries need to be helped to learn to diversify their diets so they and the country is less dependent on just a few crops.


Do you think agricultural research in Africa has improved over the years?
Yes, definitely! For example, IITA used to provide three of every four varieties of yams to Ghana. Today, we provide only one of every four. Ghana produces the rest. This exciting picture is repeated across many countries. Many African leaders are increasingly supporting agriculture. Nigeria now funds its agricultural research institutions very well.

Investment in agricultural research offers long-term returns to the people that are often higher than those of the stock market.


Specifically, what has IITA been doing to address food insecurity in sub-Saharan Africa?
IITA focuses its efforts on some of the most important food crops of sub-Saharan Africa. These include maize, cowpeas, cassava, yams, soybeans, bananas and plantains and on systems that boost food production.

We develop technologies to help increase food production to meet demands. But increasing production has to be done with care; it can be harmful to farmers because it often leads to lower prices, so we seek ways for them to create wealth from their crop by helping to ensure the extra yield finds its way to markets either raw or processed, to create alternative markets, which also reduces post-harvest losses.


What is the impact of IITA on food security in the region?
Working with our national and international partners, we have released hundreds of varieties of food crops that are higher-yielding and resistant to pests and diseases. Recently, we released in West Africa soybean that is resistant to the deadly Asian soybean rust that can wipe out as much as 80% of infested crop. Our cassava, cowpea and soybean varieties boost farmers’ yields three fold. We have developed ways to process and utilize these crops.

We have cost-effective ways to deal with pests and diseases that ruin farmer's crops. A bio-pesticide IITA developed with our partners is successful in averting locust invasions.

IITA also contributes to building African capacity. In partnership with governments and donors, we have trained thousands of graduate students in agricultural research. Local scientists understand their problems and solutions better than anyone else.

A lot of technologies remain “on the shelf”. How does IITA ensure that its research finds its way to intended beneficiaries?
If a technology is no good, it is best left on the shelf; however, it is true that even good ones remain on the shelf. In the old days we found our technologies sitting on shelves for years. It was clear that just developing technologies is not enough. For the technologies to work, they themselves need help! So we changed our approach to minimize this waste. Now we take technologies we generate and help them along with good approaches and advocacy. By working with a broad set of partners - farmers, national agricultural research systems, NGOs, and the private sector – the technologies are adopted faster.


What challenges do IITA and other research institutions face in carrying out your work?
Challenges are many: crop pests and diseases keep coming in many different shapes and forms; market circumstances change; research to tackle these challenges is expensive and time consuming; getting funds is tough as many other needs – wars, refuges, natural disasters – compete for the same funds.

Research is a long term undertaking and some supporters have shorter planning horizons. Still we are grateful for the support we have been getting for over 40 years.


Any parting comments?
Africa can be more than food self-sufficient. If we can protect what farmers grow, and protect Africa’s harvest from spoilage, the Continent should never need to ask for food aid outside the Africa. This possibility inspires us to work even harder.

###

Jeffrey T Oliver, [e-mail]
Corporate Communications Officer (International)
Communication Office
IITA-Headquarters, Ibadan, Nigeria

Godwin Atser, [e-mail]
Corporate Communications Officer (West Africa)
IITA-Ibadan

Catherine Njuguna, [e-mail]
Regional Corporate Communications Officer (East Africa)
IITA-Tanzania

URL: www.iita.org


About IITA
Africa has complex problems that plague agriculture and people's lives. We develop agricultural solutions with our partners to tackle hunger and poverty. Our award winning research for development (R4D) is based on focused, authoritative thinking anchored on the development needs of sub-Saharan Africa. We work with partners in Africa and beyond to reduce producer and consumer risks, enhance crop quality and productivity, and generate wealth from agriculture. IITA is an international non-profit R4D organization founded in 1967, governed by a Board of Trustees, and supported primarily by the CGIAR. "

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Rey Resources to raise $15 million to progress coal projects - Oct 23, 2009

Highlights

+ Rey Resources Limited secures next stage of its development with capital raising of $15 million comprising:

(a) $10 million institutional placement; and
(b) $5 million underwritten share purchase plan

+ Issue price of 20 cents is at premium to takeover offers by Crosby and Gujarat

+ Shareholder vote to approve Share Issue to be conducted at Rey Resources Annual General Meeting on 27 November 2009

+ Funds will enable Rey to undertake an extensive resource and exploration drilling program in 2010 and assuming a positive outcome to the pre feasibility study to commence a full feasibility study of the Canning Basin Coal Project
www.reyresources.com/irm/Company/ShowPage.aspx?CPID=1363&EID…

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Western Lithium to Acquire Rocky Mountain Resources - MiningTopNews - October 24, 2009
www.miningtopnews.com/western-lithium-to-acquire-rocky-mount…

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Uranerz Receives Air Quality Permit for ISR Mine Construction - MiningTopNews - October 24, 2009
www.miningtopnews.com/uranerz-receives-air-quality-permit-fo…

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"Africa can feed itself": IITA, partners call for more investment in agriculture to tackle hunger, poverty - CGIAR - October 23, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=946

"Even with nearly a quarter of the world's one billion-plus hungry living in sub-Saharan Africa, experts agree that with additional investments in agriculture, particularly in research and capacity-building, Africa can easily meet its food and income needs.

They were speaking at an open forum convened by the International Institute of Tropical Agriculture (IITA) and the University of Zambia in Lusaka in observance of 2009 World Food Day.

By investing in research and training, simple and effective technologies that are already existing can be easily made available to farmers in Africa to improve their productivity, which is currently very low compared to global average.

According to Hartmann, the Director General of IITA, if the yield gaps between the potential and actual yields can be reduced using existing science, Africa's production can increase three-fold.

However, he also cautioned that farmers must be able to generate wealth from the increased yields. This is not always the case as a lot of produce go to waste before and after harvesting.

He adds that in Africa, an increase production is usually accompanied by a drop in prices.

"It is also important that farmers' produce should be protected from damage by pests and diseases as well as loss during transportation and storage," he said. "Farmers should have alternative markets to prevent prices spiralling with increased production."

Wilson Mwenya, the Acting Vice Chancellor of UNZA said the world financial crisis had added more challenges to Zambia's struggle for development.

He said that over 90 per cent of the country's population is heavily dependent on agriculture for their livelihood, with 70 per cent of this comprising subsistence peasant agriculture. Most also depend on the rains, which makes agriculture more uncertain because of climate change.

"It is at times like these that institutions of research and training must come together to produce a labour force that is knowledgeable and ready to face the challenges of climate change and quickly find solutions and disseminate them yesterday," he emphasized.

Stephen Mulioleka of the Golden Valley Agricultural Research Trust (GART) agreed that productivity in Africa was low due to low inputs. For instance in Zambia, he said, on average farmers use 8kg/ha of fertilizer compared to 19kg/ha for other countries.

"Farmers need a lot of support and motivation through a conducive policy environment and support with improved inputs such as feed, fertilizer and water."

Noureddin Mona, country representative of FAO, indicated that back-to-back crises starting in 2007 have negatively impacted global food security and pushing the number of the world's hungry to an all time high of over 1 billion.

He suported the call for more investment in agricultural research and training as one of the ways to fight food insecurity, adding that farmers must also be actively involved in research to ensure that the technologies produced are appropriate to local conditions and are acceptable to end-users.

###

For more information, please contact:

Jeffrey T Oliver, [e-mail]
Corporate Communications Officer (International)
IITA-Headquarters, Ibadan, Nigeria

Catherine Njuguna, [e-mail]
Regional Corporate Communications Officer (East Africa)
IITA-Tanzania

Godwin Atser, [e-mail]
Corporate Communications Officer (West Africa)
IITA-Headquarters, Ibadan, Nigeria

URL: www.iita.org

About IITA
Africa has complex problems that plague agriculture and people's lives. We develop agricultural solutions with our partners to tackle hunger and poverty. Our award winning research for development (R4D) is based on focused, authoritative thinking anchored on the development needs of sub-Saharan Africa. We work with partners in Africa and beyond to reduce producer and consumer risks, enhance crop quality and productivity, and generate wealth from agriculture. IITA is an international non-profit R4D organization founded in 1967, governed by a Board of Trustees, and supported primarily by the CGIAR. "

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TopStory: Kupferpreis spiegelt physisches Geschäft nicht wider - Financial.de - Oct 23, 2009
www.financial.de/news/top-stories/2009/10/23/topstory-kupfer…

"TopStory: Der Anstieg des Kupferpreises auf Jahreshöchststände lässt die Akteure am physischen Markt einigermaßen ratlos zurück, übersteigen die Preise doch jetzt schon die Voraussagen für 2010, obwohl die globale Nachfrage relativ schwach ist. Händler, Produzenten und Hedgefonds berichten übereinstimmend von niederschmetterndem Kupfergeschäft in den USA, und die Kaufbereitschaft in Europa und Japan gilt als gering. Selbst China, weltgrößter Kupferkonsument und in der ersten Jahreshälfte als Retter des Markts gefeiert, kauft nicht im gewünschten Ausmaß. Er könne sich nicht erinnern, wann der physische und der Terminmarkt jemals so auseinander gedriftet seien wie jetzt, kommentierte ein Manager eines großen Hedgefonds. “In den vergangenen vier Monaten haben wir kaum etwas nach China verkauft.” Das hat nicht die Preisrally bis auf 6.675 USD/t verhindern können. Dieses Niveau war zuletzt im September 2008 erzielt worden, bevor die globale Wirtschaftskrise voll zuschlug. Und trotz des Auseinanderklaffens zum physischen Markt halten Industrieteilnehmer weitere Gewinne für wahrscheinlich.

Dass Kupfer - vor allem wegen Faktoren auf der Angebotsseite - die besten Aussichten unter den Basismetallen hat, wird von wenigen bestritten. Justin Lennon, Senior Analyst bei Mitsui Bussan Commodities, schätzt den Anstieg der globalen Bergbauproduktion für 2009 trotz der steigenden Preise auf nur 2%, wozu einige neue Anbieter und die Reaktivierung einiger Betriebe mit höheren Kosten beigetragen hätten. Laut Lennon hat der Kupfermarkt in den kommenden 18 Monaten mit dem Fehlen neuer großer Projekte, Streikgefahr, Betriebsversagen und sinkender Erzqualität zu kämpfen. Das lasse Besorgnisse über die Verfügbarkeit von Konzentraten im Jahr 2011 aufkommen. Dagegen sagen viele Analysten für Kupfer immer noch ein Überangebot voraus, denn die Nachfrage in anderen Regionen sei definitiv nicht vorhanden. Jüngste Daten der International Copper Study Group erlauben die Schätzung eines Kupferüberschusses von 2.000 t, in den ersten sieben Monaten ist der Kupferverbrauch zum Vorjahr um 1,3% zurückgegangen. China hatte sich im ersten Halbjahr 2009, als die Preise nur halb so hoch lagen, aus strategischen Gründen mit Kupfer eingedeckt, diese Käufe haben nun aufgehört. Die Schätzungen der Kupfermenge, die in den nationalen Stockpile und in staatseigene Industrien ging, reichen bis zu 1,0 Mio t. Private Investoren sollen schätzungsweise mindestens 250.000 t angeschafft haben, da sie eine gute Kaufgelegenheit wahrnehmen wollten. Die enormen Importe von 2009 dürften sich demnach 2010 nicht wiederholen, vielmehr haben sie offenbar bereits aufgehört, wie die Daten vermuten lassen. "

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China wieder auf Einkaufstour: Kanadische und australische Goldminen im Visier - Financial.de - Oct 22, 2009
www.financial.de/experten/2009/10/22/china-wieder-auf-einkau…

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TopStory: Chinesische Käufer an Ravensthorpe interessiert - Financial.de - Oct 21, 2009
www.financial.de/news/top-stories/2009/10/21/topstory-chines…

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TopStory: China sucht ,,Win-Win”-Gelegenheiten - Financial.de - Oct 20, 2009
www.financial.de/news/top-stories/2009/10/20/topstory-china-…

"TopStory: China will seine Bergbauindustrie laut dem Vizeminister des zuständigen Ministeriums Wang Min für ausländische Investoren öffnen. Das Land hofft dabei, dass andere Regierungen diesen Schritt erwidern werden. In einer Rede anlässlich der China Mining Conference rief Wang am Dienstag andere Nationen dazu auf, Win-Win -Investitionsmöglichkeiten zu schaffen. Außerdem rief er zu einer Preisreform im internationalen Bergbau auf.
Seine Äußerungen ähnelten den Bedenken der chinesischen Stahlhersteller, die von den internationalen Eisenerzgesellschaften Preiskürzungen verlangen. China verfüge über 13 Mrd CNY, die in den heimischen Bergbau investiert werden sollen. Davon seien bereits 1,5 Mrd CNY in 191 Projekte geflossen, sagte Wang. "

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Today's headlines - Point Carbon - Oct 24, 2009
www.pointcarbon.com

"Today's headlines

*Obama stumps for cap-and-trade bill
*Chile should set GHG reduction plan: IEA
*JP Morgan extends Ecosecurities offer
*Biofuels provision ups emissions: scientists
*Lower energy prices pressure carbon
*Spain introduces VAT fraud measure
*WWF to screen deforestation investors
*Norway sells 6.32m EUAs
*Norway to include aviation in ETS
*New climate deal must come in 2010: EU
*EC to propose CO2 standards for vans
*Wind decision a test for CDM credibility: de Jong
*Interest jumps in EUA market
*Japan’s JBIC seeks $220m climate budget
*RGGI falls 2% amid thin trade "

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Energy sector technical chiefs have said the challenges of developing offshore wind can be overcome - NewEnergyFocus - Oct 23, 2009
www.newenergyfocus.com/do/ecco.py/view_item?listid=1&listcat…

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UK renewable energy targets are unrealistic, claims E.ON chief - NewEnergyFocus - Oct 19, 2009
www.newenergyfocus.com/do/ecco.py/view_item?listid=1&listcat…

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Successful trial of composite 'stealth turbine' opens up "9GW" of wind potential - NewEnergyFocus - Oct 22, 2009
www.newenergyfocus.com/do/ecco.py/view_item?listid=1&listcat…

"A successful trial of a "radar friendly" wind turbine was announced today (October 22 2009), which could prevent radar operators confusing the moving blades for aircraft and shipping and so reduce objections to planned wind farms, writes Will Nichols.

Wind manufacturer Vestas and technology company QinetiQ said they have successfully developed the radar friendly turbine - known as a the stealth turbine. A 44m long prototype blade was trialled last week at a wind farm owned by energy company Enertrag UK at North Pickering, near Swaffham, Norfolk (see this NewEnergyFocus.com story). This was a culmination of a five year, £1 million project - supported by £400,000 of funding from the government funded Technology Strategy Board.

QinetiQ claim that the ‘stealth turbine' technology can significantly reduce the size of the radar signature made by individual turbines to the point where they can be effectively ‘factored out' of air traffic control and air defence systems.

It was revealed on Friday that the Ministry of Defence (MoD) has objected to 51 wind farm applications for radar related reasons since January 2008, and QinetiQ estimate that this technology could open up 9GW of potential sites currently blocked by objections from radar operators.

"We believe that Stealth Turbine technology could be a genuine game-changer for the renewable energy industry by removing a major barrier to its development," said Mark Roberts, strategic business director at QinetiQ.


Technology
Dr Dave Moore, business development manager at QinetiQ told NewEnergyFocus.com that the metal of the surface and internal structure of the wind turbine reflects the radar. Blade tips moving at almost 200mph can be mistaken for aircraft, causing radar operators to divert other air traffic in the vicinity.

Dr Moore said this problem can also affect shipping, where offshore wind farms can fool ships' radar operators into thinking that the turbines are other ships.

The 'Stealth Turbine' uses a modified composites for nacelle and blades, and sprayable RAM coatings that can be applied directly onto the tower and other static surfaces. Dr Moore said that this adds a marginal weight, but most importantly can be integrated into the current manufacturing processes for turbine components.

Weight has to be controlled as the heavier a blade is, the more energy it takes to turn it and the less it generates. The trial in Norfolk saw one 'stealth' blade fitted with two normal blades onto a Vestas V90 turbine - an increase in weight would have unbalanced the turbine and caused wear problems if the trial had not been successful.


Research
On Tuesday Energy and Climate Change secretary Ed Miliband announced that £5.15 million was to be spent on a research project in conjunction with the Crown Estate, wind companies, and a group of developers aiming to solve the problem of radar interference from wind turbines (see this NewEnergyFocus.com story).

This project was prompted by objections to wind farms made by the UK's leading air traffic control provider, NATS, as well as the Civil Aviation Authority. On Friday, defence minister Kevan Jones revealed that the MoD was consulted on 3,502 pre-planning applications between January 2006 and October 7 2009 and had expressed concerns to 1,054 of them "on the grounds of interference with defence equipment and or operations."

After a successful trial of the 'stealth turbine', the two companies will be looking to move the blade into production soon, possibly as early as next year.

"We are in dicussion about how we move to the next stage. Vestas will decide production dates but we're hopeful that within the near future a mitigation solution will be out there," Dr Moore said. "

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Carbon Disclosure Project 2009: South Africa JSE 100 - NBIaIS - Oct 22, 2009

- This report from the National Business Initiative and Incite Sustainability estimates South Africa's total carbon emissions at 440-million tons, as businesses moves towards greater transparency of their greenhouse gas emissions.

Minister’s Foreword
Climate change is arguably the biggest challenge for humanity in the 21st century. lt threatens to undermine the global effort to achieve the millennium development goals (MDGs). Climate change is fuelled by the carbon intensive global economy. The new global agenda on climate change is intent on creating a new economy that is less carbon intensive in a bid to curb the greenhouse gas emissions. A less carbon intensive global economy explores new ways of doing business that promote efficient use of resources
leading to significantly reduced greenhouse gas emissions. Business is expected to take the lead in this regard. Therefore the top 100 JSE listed companies must be highly commended for taking the lead to disclose their carbon footprint and plans to reduce it, thereby contributing to mitigating climate change.

Equally important is that recent scientific studies have identified Africa as the most vulnerable continent to climate change. The anticipated climate change will decrease food security,
water resources and compromise infrastructure. These impacts will affect business and render our local economy non competitive, strengthening the contention that building resilience to climate change will require partnership between business, government and
communities at large.

South Africa is a diverse country in terms of culture, religion and
languages. The public at large is crucial to addressing the challenge of climate change. It is therefore important that we demystify climate change into a common language that is understood by all. A language that simplifies scientific and business jargon and traverses language barriers so that every individual and institution in society understands the significance of climate change and their respective roles in responding to it. This will expedite processes by either government or business to mobilize the public at large towards mitigation and adaptation to climate change.

The government of South Africa and the business sector agreed to pursue the required by science scenario of the Long Term Mitigation Scenarios (LTMS) study in a bid to curb greenhouse gas emissions. It is also important to stress the need for adaptation since the world is committed to a certain level of climate change that will require new coping mechanisms. In addition to adaptation and mitigation, the business sector will need to discuss technology
needs for a low carbon economy as well as the possible mechanisms to finance these at local level.

In conclusion, it must be emphasized that as a high carbon emitter,
South Africa has the responsibility to demonstrate leadership on the continent. Such leadership must be accompanied by target setting, measurement and verification of performance. Greenhouse gas emission reporting by industries will soon be mandatory in South Africa and non compliance shall be met by penalties. It is therefore to the benefit of industry to take the lead in reporting
greenhouse gas emissions to avoid such penalties and litigation risks. Industries that have taken the lead in the Carbon Disclosure Project are congratulated and those that have not responded are encouraged to demonstrate leadership in the future.

Ms Buyelwa Sonjica, MP

Minister of Water and Environmental Affairs -
http://us-cdn.creamermedia.co.za/assets/articles/attachments…

("On behalf of 475 investors with assets of US $55 trillion ..." )

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Investing in Cultural Diversity and Intercultural Dialogue - UNESCO - Oct 22, 2009

- The United Nations Educational Scientific and Cultural Organisation World Report advances development strategies in favour of poverty eradication, environmental action and sustainable, human-centred governance. -
http://us-cdn.creamermedia.co.za/assets/articles/attachments…

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Diamonds and Human Security: Annual Review - PAC - Oct 21, 2009

- This review from Partnership Africa Canada shows that the Kimberley Process regulating world trade in rough diamonds is failing owing to governments' indifference to blatant smuggling, human rights abuses and money laundering. -
http://us-cdn.creamermedia.co.za/assets/articles/attachments…

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Potash Corp sees demand returning early 2010 - Mining Weekly, TORONTO - Oct 23, 2009

- Liezel Hill -
www.miningweekly.com/article/potash-corp-sees-demand-returni…

"TORONTO (miningweekly.com) – Potash Corporation of Saskatchewan CEO Bill Doyle admitted on Thursday he hasn't had a great record this year in predicting when farmers will return to buying and using crop nutrients, but maintained that the situation as it stands cannot go on for much longer.

The potash industry experienced strong demand and saw profits surge in the early parts of 2008, but the market just about fell off a cliff in the second half as farmers, squeezed by the economic crisis, deferred the use of fertiliser.

Doyle had said earlier in 2009 that he expected demand would return in the second half of the year.

However, demand for potash and Potash Corp's other crop nutrients remains sluggish, and the company reported on Thursday that third quarter sales dropped to $1,1-billion, from $3,1-billion a year earlier.

“Admittedly, this trough has cut deeper and lasted longer than we initially anticipated,” Doyle said on a conference call.

Still, he asserted that it is a matter of “when” and not “if” demand will return.

For now, fertiliser dealers and farmers are waiting to see if fertiliser prices fall further and, without a compelling reason to rebuild their own stockpiles, they continue to delay purchases.

“And they see higher producer inventories, and have a perception that supply will be readily available when the spring rush begins.”

Market watchers are searching for the event or catalyst that will signal the return to more normal market conditions and Potash Corp, for one, had expected that the potash price settlement between producers and Indian buyers, in July, would prove a turning point, Doyle said.

“But that did not happen.”

However, the ongoing underapplication of fertiliser by farmers is “not agronomically sustainable”, he said, and Potash Corp is predicting that buying will return in early 2010, as farmers prepare for the northern hemisphere spring planting season.

Improving grain prices around the world will likely provide an incentive for farmers to start applying crop nutrients, while China, which is seen as a key driver for the potash market, is under pressure as crop yields are beginning to suffer, Doyle said.

For now, the company is forecasting potash demand in 2010 of 50-million tons, assuming that demand returns early in the year.

“And we think this is going to be a multiple year recovery. It won't be covered off in 2010, you're going to see recovery into 2011, 2012,” Doyle said.

“Because it takes time to get back to trend line, to start refilling that soil base that has been so severely depleted.”

Buyers around the world have also been waiting for Chinese customers to reach a price settlement with producers.

Doyle said he expects that Chinese buyers will be ready to settle potash contracts before the end of this year.

“We know they need it, they know they need it.

“It's just a matter of time, but it won't be long now.”

In an attempt to shore up prices, Potash Corp and other potash producers have curtailed production levels sharply since demand started falling.

The company said last month that nearly 20-million tons of potash production had been taken off-line in the last 12 months. "

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Cluff hikes Sierra Leone gold resource to 1.1 million ounces; Cluff Gold has raised its mineral resource at the very promising Baomahun gold project in Sierra Leone to over the 1 million ounce bracket and plans scoping study for completion Q1 2010 - Proactive Investors, LONDON - Thursday , 22 Oct 2009
www.mineweb.com/mineweb/view/mineweb/en/page66?oid=91150&sn=…

"West African focused gold deposit developer Cluff Gold (AIM & TSX: CLF) reported a 40% increase in total mineral resources at its flagship Baomahun gold project in Sierra Leone after an extensive drilling campaign with investigation into possible mineralisation extensions set to be launched shortly.

The resources update followed an 11-hole, 7,000-metre drilling campaign, aimed at testing the underground potential of the mine. As a result, the inferred minerals resources increased to 9.2 million tonnes grading 3.2 g/t (grammes per tonne) or 957,000 oz (ounces) from 500,000 oz of gold, while the total measured and indicated resource now stands at 12 million tonnes grading 2.9 g/t for a total 1,103,000 ounces of gold.

A scoping study into the combined open pit/underground scenario is expected to be completed in the first quarter of 2010.

"The recent drilling has added over 600,000 ounces to our total mineral resource base at grades and widths that are conducive to our plans to establish a combined open pit and underground operation at Baomahun. We look forward to completing the scoping study early next year, which will be based on this larger resource, and will address the potential of a combined open pit and underground operation with a much longer mine life," said Cluff's Technical Director Douglas Chikohora.

Cluff plans to launch a follow-up work programme to investigate potential extensions of the mineralisation including DDH301 (10 metres at 10.5 g/t) in the Central Zone and DDH298 (9 metres at 5.97 g/t) in the Eastern Zone.

The overall exploration costs have so far amounted to US$9 per oz discovered to date. "

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BHP chairman tells China: game on - Reuters, MELBOURNE - Thu Oct 22, 2009
http://uk.reuters.com/article/idUSTRE59L1RC20091022

"MELBOURNE (Reuters) - Global miner BHP Billiton (BHP.AX) acknowledged on Thursday that it and other iron ore producers had at times upset their major customer China and said that Beijing realized it had "to play with the big boys."

In a parting shot at Chinese anger over high iron ore prices and over BHP's plans for a $116 billion iron ore joint venture with rival Rio Tinto (RIO.AX), outgoing BHP Chairman Don Argus said China needed to get over any hostility.

"I don't know what creates the hostility. I can remember in 2005 people were hostile when we increased the iron ore prices 70 percent," he told reporters after speaking at a business lunch.

Argus then echoed comments by Australia's Trade Minister Simon Crean, saying China should play by international rules.

"If you're going to play in this game, then you've got to play with the big boys -- and they know that," Argus added.

BHP and Rio announced their joint venture plan in June after Rio scrapped a proposed $19 billion tie-up with state-owned metals conglomerate Chinalco.

Argus said BHP's China business continued normally, despite strained ties between Australia and China after the arrest of four Rio staff in Shanghai on commercial-espionage allegations.

Argus dismissed speculation that the production joint venture has only a 50-50 chance of going ahead and was sanguine about how Europe's competition regulators would view it.

"As far as I know we're still on track. We're all still working closely together," Argus told reporters after speaking at a business lunch.

"The shareholders want this transaction to go ahead because they can see the benefits there at the end."

European regulators had given BHP's proposed takeover of Rio Tinto a good hearing last year, but it was not clear how they would view the production joint venture, he added.

Last week, BHP and Rio scrapped a plan to jointly market up to 15 percent of their combined production in a move that was widely seen as an effort to allay concerns among Chinese customers and the European Union.

Argus is due to retire in early 2010 after more than 10 years as chairman presiding over the group's transformation into the world's biggest miner. He will be replaced by former Ford Motor Co (F.N) chief Jac Nasser.

(Reporting by Sonali Paul; Editing by Mark Bendeich) "

[Popeye82]

Discovery to spend $150m on Botswana copper mine - Reuters, JOHANNESBURG - Oct 22, 2009
www.miningweekly.com/article/discovery-to-spend-150m-on-bots…

[Popeye82]

Mining Fool's Gold for Solar; Cyrus Wadia is using abundant materials to grow nanocrystals for cheaper photovoltaics - TR - Nov09

- By Katherine Bourzac -
www.technologyreview.com/energy/23548/?nlid=2455&a=f

[Popeye82]

Report: China building cyberwarfare capabilities - Associated Press - Oct 22, 2009
www.technologyreview.com/wire/23796/?nlid=2455

"WASHINGTON (AP) -- China is building its cyberwarfare capabilities and appears to be using the growing technical abilities to collect U.S. intelligence through a sophisticated and long-term computer attack campaign, according to an independent report.

Released Thursday by a congressional advisory panel, the study found cases suggesting that China's elite hacker community has ties to the Beijing government, although there is little hard evidence.

The commission report details a cyberattack against a U.S. company several years ago that appeared to either originate in or come through China and was similar to other incidents also believed to be connected to the country.

According to the analysis, the company noticed that over several days, data from their network was being sent to multiple computers in the U.S. and overseas. While the report does not identify the company, it contends that the attackers targeted specific data, suggesting a very coordinated and sophisticated operation by people who had the expertise to use the high-tech information. An internet protocol (IP) address located in China was used at times during the episode.

Barring proof, the study by the U.S.-China Economic and Security Review Commission warns that the sort of expansive and sophisticated computer resources that have been seen in cyberattacks on the U.S. and other countries "is difficult at best without some type of state sponsorship."

The study contends that the Chinese, long reported to be stoking a massive military build up, has also made computer warfare a priority. The Chinese government is said to view such cyberprowess as critical for victory in future conflicts -- similar to the priority on offensive cyber abilities stressed by some U.S. officials.

Potential Chinese targets in the U.S., according to the report, would likely include Pentagon networks and databases to disrupt command and control communications, and possibly corrupt encrypted data. The report notes, however, that penetrating such classified systems would be time consuming and difficult.

In large part, the commission report expands on the Pentagon's annual China military power review. The Defense study said earlier this year that China's People's Liberation Army has set up information warfare units to develop viruses to attack enemy computer systems and networks as well as to protect friendly systems.

The Pentagon report described computer attacks believed to have originated in China, but concluded that "it remains unclear if these intrusions were conducted by, or with the endorsement of, the PLA or other elements of the PRC (People's Republic of China) government."

The new report, prepared for the commission by Northrop Grumman Corp., relies largely on publicly available information from Chinese hacker web sites, technical articles and analysis of computer intrusions attributed to the Chinese.

___

On the Net

Report: http://tinyurl.com/ygcmh9b

Copyright 2009 The Associated Press. "

[Popeye82]

"==============================================================
01. INFO-KICKER: FEUERWERK AN POSITIVEN ÜBERRASCHUNGEN - HT - Oct 23, 2009
==============================================================

Liebe Börsenfreunde,

besser hätte das Feuerwerk an positiven Überraschungen durch
die Quartalsergebnisse kaum ausfallen können. Die Kurse wurden
höher und höher getrieben, der Ansatz einer Korrektur wurde im
Keim erstickt. Feierlaune an den Börsen, insbesondere wenn Sie
weiße Äpfel mögen.

Im Kapitel 02 habe ich einen Blick auf das herausragende
Quartalsergebnis von Apple geworfen. Da gibt es kein Haar in
der Suppe, das ist ein Ergebnis, wie es schöner nicht ausfallen
könnte.

Kreditkartenkrise, Einzelhandelskrise, Technologiekrise, ...
all diese Krisen sind an den Haaren herbei gezogen. Schauen Sie
sich die jüngsten Quartalsergebnisse an und Sie werden diese
Märchen endlich in den Märchenwald zurückschicken können. Mehr
dazu ebenfalls im Kapitel 02.

Die steuerfreie Dividende der Deutschen Post muss
nachversteuert werden, wenn Sie vor Ablauf der
Spekulationsfrist Ihre Aktien verkaufen. Details dazu ebenfalls
im nächsten Kapitel. Zwei Leser wiesen mich darauf hin, vielen
Dank.

Im Ausblick habe ich ein Unternehmen analysiert und als
Anlageidee ausgearbeitet, das vom iPhone profitieren wird. Es
hat gerade erst begonnen, das iPhone anzubieten und erste
Absatzzahlen erwarte ich in den nächsten Wochen. Es ist eine
Spekulation, mit der wir gleich mehrere Fliegen mit einer
Klappe schlagen.

Im Kapitel 04 habe ich einen Blick auf das Quartalsergebnis von
McDonalds geworfen. Wie hat die Krise den weltgrößten
Restaurantkettenbetreiber getroffen? Welche Rolle spielt der
schwache US-Dollar für McDoof?

Die heutige Leserfrage untersucht die unterschiedliche Wirkung
des steigenden Ölpreises in den USA und in Deutschland. Was
bedeutet der gestiegene Ölpreis gemessen in Euro für uns?

Ich wünsche eine anregende Lektüre,

take share, Ihr
Börsenschreibel

Stephan Heibel

Chefredakteur und
Herausgeber des
Heibel-Ticker

P.S.: Lassen Sie mich Ihre Meinung, Kritik oder
Verbesserungsvorschläge wissen (selbst Lob ist willkommen ;-)
und schreiben Sie mir an leserbrief/at/heibel-ticker/./de.

==============================================================
02. SO TICKT DIE BÖRSE: VERGEBLICHE SUCHE NACH DER KRISE
==============================================================

APPLE MIT ÜBERRAGENDEM ERGEBNIS

Kennen Sie jemanden, der von Apple MacIntosh-Rechnern zur
Windows-Welt gewechselt hat? Ich nicht.

Kennen Sie jemanden, der nach dem iPhone ein anderes Smartphone
kaufte? Ich nicht.

Apple gewinnt weiterhin Marktanteile in all seinen
Geschäftsbereichen und dennoch ist der Weltmarktanteil im
Bereich der Computer und Handys nur bei 4% bzw. 3%. Erzählen
Sie mir also nicht, dass das Wachstum nun bald sein Ende finden
muss. Wieder einmal hat Apple die Schätzungen der Analysten
lächerlich gemacht. Um 28% hat Apple mehr verdient, als die
Analysten sich vorstellen konnten. Wenn Sie berücksichtigen,
dass ein Übertreffen der Erwartungen von 5% gut ist, von 10%
super und von 15% unglaublich, dann fällt mir beim Apple-
Ergebnis kein passender Begriff mehr ein.

Apple entwickelt bestehende Märkte, die von den technischen
Möglichkeiten zwar bereits erobert wurden, in Sachen
Benutzerfreundlichkeit und Lifestyle jedoch stiefmütterlich
behandelt werden. Der Vorwurf, den Windows-Protegisten gerne
aus der Tasche ziehen, Apple würde nichts Neues entwickeln, mag
stimmen. MP3-Player gab es schon lange vor dem ersten iPod. Und
Smartphones gab es auch schon lange vor dem iPhone. Die nächste
Geschichte könnte ein Tablet-PC sein, den es auch schon seit
Jahren gibt. Die Idee ist toll, die Umsetzung bislang
stümperhaft. Hier wünschen sich viele, dass Apple sich diese
Idee einmal zu eigen macht und ein brauchbares Gerät hervor
bringt.

Ich schaue übrigens kein Fernsehen mehr. Schon seit Jahren.
Mich nervt die Werbung und derzeit fällt es mir schwer, die
Sendezeiten von interessanten Sendungen zu treffen. Auch hier
warte ich sehnsüchtig auf eine entsprechende Entwicklung von
Apple, um das Fernsehen wieder attraktiver zu machen. Bislang
sammelt Apple gerade mal erste Erfahrungen in diesem Bereich.

Nun, ich will an dieser Stelle mit der Lobeshymne aufhören,
sonst halten Sie mich noch für einen Apple-
Vertriebsangestellten.

Nein, doch nicht, eines noch. Das muss ich noch erzählen: Für
das iPhone gibt es eine Anwendung „Babyphone“. Egal wo ich bin
kann ich also das iPhone neben meinen Sohnemann legen und lasse
das Handy meiner Frau anrufen, wenn er sich rührt. Wir haben
das schon öfter genutzt, wenn wir nur kurz aus dem Auto
springen mussten um etwas zu besorgen, während der Kleine tief
in seinem Sitz schlief. So mussten wir ihn nicht aufwecken.

Wer mich nun für einen Rabenvater hält: Ich bin (als ehemaliger
Marathonläufer) schneller am Auto als andere im zweiten
Stockwerk ihres Hauses.

Den Kunden des Heibel-Ticker PLUS hatte ich vor dem
Quartalsergebnis von Apple geraten, einen Teil der Position zu
verkaufen, um nach einem eventuellen „Sell the good news“ zu
einem günstigeren Kurs wieder einzusteigen. Das hat nicht
funktioniert, denn Apple ist um 10% angesprungen. Zum Glück
halten wir noch eine halbe Position in Apple und so konnten wir
diesen Sprung zumindest halb mitnehmen – ein Vorteil meiner
Strategie des schrittweisen Ein- und Ausstiegs bei
Langfristpositionen.

Schwerer wird es nun, nachdem der Kurs abgehoben ist: Sollten
Sie auf einen Rücksetzer warten, um die Apple Aktien zu kaufen
oder kauft man Apple am besten egal zu welchem Preis? Nun, zu
dieser Frage habe ich im Kapitel 06 Stellung genommen.

Übrigens: Einen Tag später hat der Flash-Memory Hersteller
Sandisk (SNDK) sein Quartalsergebnis vermeldet: Ebenfalls eine
positive Überraschung bei Gewinn und Umsatz. Speicherkarten
finden immer mehr Einsatzgebiete, immer mehr spezialisierte
Kleinstgeräte (Digitalkamera, Handy, Spielekonsole, Navi, ...)
bauen auf Flashspeicher auf. Und auch bei Laptops halten SSD-
Speicher nun verstärkt Einzug. Von Zurückhaltung bei diesen
vergleichsweise teuren Speicherplatten kann keine Rede sein.


KREDITKARTENKRISE ... WO DENN?

American Express und Capital One, zwei der aktivsten
Kreditkartenbetreiber in den USA, deren Kunden gigantische
rollierende Kredite am Laufen haben, meldeten gestern ihre
Quartalszahlen. Wie oft haben Sie in den vergangenen Monaten
von der drohenden Kreditkartenkrise gehört?

Nun, ich habe einige Male versucht, diese Mär zu enttarnen –
mit mäßigem Erfolg. Vielleicht schauen sich die
Weltuntergangspropheten einmal die Quartalsergebnisse von
American Express und Capital One an. American Express übertraf
die Erwartungen um „unglaubliche“ (um mir treu zu bleiben)
15,8%! Wo sind da die hohen Abschreibungen auf Kreditausfälle?

Und Capital One meldete einen Gewinn von 0,94 USD je Aktie,
erwartet wurden aufgrund eines hohen Abschreibungsbedarfs 0,14
USD je Aktie. Ich komme hier auf einen Überraschungseffekt von
570%. Versuchen Sie das mal mit Worten zu beschreiben. Die
Aktie notiert vorbörslich 10% im Plus.

Visa hat die Dividende erhöht. Das macht man auch nicht, wenn
Ungemach in den Büchern steckt.

Vergessen Sie also das Märchen von der Kreditkartenblase.

Es ist richtig, dass die Folgen der Immobilien- und Finanzkrise
noch nicht vollständig ausgestanden sind. Doch es gibt keine
Risiken mehr, die in den Büchern der Banken schlummern, denen
ich es zutrauen würde, unsere Weltwirtschaft erneut in die Knie
zu zwingen.

Die Bank of America hat noch eine ganze Reihe von Problemen zu
lösen, bevor sie sich aus den TARP-Klauen des Staates befreien
kann. Die Citigroup ist schon einen Schritt weiter, dennoch
fehlt auch ihr noch immer das Kapital, um die TARP-Hilfen
zurückzuzahlen.

Aber es gibt schon wieder Bereiche, die funktionieren: Goldman
Sachs und JP Morgan haben bombenstarke Investmentgeschäfte
gemacht. Nachdem ich dies am vergangenen Freitag ausgeführt
hatte, wurde ich wieder mit einigen E-Mails beschossen, die mir
erklärten, dass die Investmentgewinne der Investmentbanken
keine stabile Geschäftsbasis darstellen.

Das Gleiche gilt übrigens für die Deutsche Bank: Sie hat diese
Woche überraschend und vorzeitig gemeldet, dass im dritten
Quartal erneut kräftige Investmentgewinne erwirtschaftet
wurden. 1,4 Mrd. Euro betrage der Gewinn, das ist etwas weniger
als im Quartal zuvor. Auch für die Deutsche Bank gilt: An wen
sonst wendet man sich in Deutschland, wenn man eine Anleihe
platzieren möchte? Das Geschäft landet meistens bei der
Deutschen Bank. So mag das Geschäft nicht planbar sein, dennoch
halte ich das damit erreichte KGV von 9 für sehr attraktiv bei
der Deutschen Bank.


EINZELHANDELSKRISE ... WO DENN?

Amazon hat gestern Abend im Quartalsergebnis 50% mehr Gewinn
vermeldet als erwartet. Die Aktie steht heute 20% über ihrem
gestrigen Schlusskurs. Wenn Sie sich überlegen, warum Quelle
die Tore schließen musste, dann schauen Sie sich mal auf den
Seiten von Amazon um. Da finden Sie alle Informationen zu
Produkten, Sie finden Bewertungen und meistens auch den
günstigsten Preis. Lieferung binnen ein oder zwei Tagen, und
das noch kostenfrei.

Amazon unterhält in logistisch gut angebundenen, vom
Preisniveau jedoch extrem günstigen Gegenden Lagerhallen, von
denen aus die Produkte direkt an den Kunden geschickt werden.
Sie haben das Päckchen meistens innerhalb von 24 Stunden.

Schon längst sind es nicht mehr nur Bücher, die Sie bei Amazon
kaufen können. Die Produktpalette ist so breit, dass ich hier
mit dem Aufzählen gar nicht beginnen möchte.

Von Zurückhaltung kann bei den Konsumenten also keine Rede
sein. Krise? Rezession? Ich kann keine Anzeichen dafür
entdecken. Lediglich strukturelle Veränderungen, leider zum
Nachteil der Quelle-Angestellten.


TECHNOLOGIEKRISE ... WO DENN?

Unzählige Male hörte ich das Argument, dass die Großkunden der
Technologiebranche zu einem großen Teil aus der Finanzbranche
kommen und dass daher die Investitionen im IT-Bereich auf
absehbare Zeit nicht mehr das Niveau der Zeit vor der Krise
erreichen könnten.

Nun haben Sie gesehen, wie Intel überraschend gute Zahlen
meldete (+18%) und heute hat Microsoft die Erwartungen um 25%
übertroffen. Okay, ich gebe es auf, auch für diese positiven
Überraschungen Begriffe zu suchen. Schauen Sie sich diese
Quartalsergebnisse an und überlegen Sie sich, ob Ihnen das als
Beweis dafür reicht, dass wir aus der Rezession heraus kommen,
ohne einen doppelten Boden durchlaufen zu müssen. Ich gehe
davon aus, dass wir eine fulminante Weihnachtssaison haben
werden.


JAHRESVERGLEICH ODER SEQUENTIELL

Ach so, nun kommt noch ein Totschlagargument der Bären: Ich
werde, wenn ich es hier jetzt nicht anspreche, wieder darauf
hingewiesen, dass ich mir doch nur die Umsatzentwicklung im
Vergleich zum Vorjahresquartal anschauen müsste, um zu sehen,
wie katastrophal die wirtschaftliche Lage ist.

Und tatsächlich, bei vielen Unternehmen ist der Umsatz im
Jahresvergleich rückläufig. Oh Schreck! Wie kann ich da
investiert sein? Wie kann jemand Aktien kaufen, dessen
Unternehmen rückläufige Umsätze verzeichnet?

Nun, wer so denkt, dem wird es sicherlich nichts ausmachen, auf
die 60% Kursgewinn, die der DAX in den vergangenen 8 Monaten
erzielt hat, zu verzichten. Denn eigentlich dürfte der DAX gar
nicht gestiegen sein, wenn doch der Umsatz so vieler
Unternehmen rückläufig ist. Nein, da kehren wir der Börse
lieber den Rücken und überlassen es den schlecht informierten,
die 60% Kursgewinn einzustecken...

...wenn Sie so denken, dann sind Sie hier falsch.

Die Wirtschaft stockte im vergangenen Herbst und es folgte ein
Einbruch an den Aktienmärkten. Phasenweise fürchtet man eine
Weltwirtschaftskrise und entsprechend stark fielen die
Kursverluste aus. Doch inzwischen hat sich der Umsatz auf einem
niedrigen Niveau stabilisiert, die Weltwirtschaftskrise ist vom
Tisch und die Unternehmen haben sich auf das niedrigere
Umsatzniveau eingestellt (Kosten eingespart, Leute entlassen).
Die Trendwende ist bereits erfolgt und in den vergangenen
Wochen haben wir sogar von den meisten Unternehmen erfahren,
dass der Umsatz wieder ansteigt. Das ist zwar auf einem
niedrigen Niveau und im Vergleich zum Vorquartal, also
sequentiell, aber das reicht uns schon aus, um die positive
Entwicklung zu erkennen. Schließlich stehen die Aktien ja auch
nicht mehr auf dem Niveau von vor einem Jahr.

Und gar nicht so selten ist der Umsatz sogar schon wieder auf
dem Vorjahresniveau oder sogar etwas höher. Die Aktienbörse
nimmt die künftigen Entwicklungen vorweg. Wenn der Umsatz zu
steigen beginnt, dann stehen die Aktien schon wieder deutlich
höher (in unserem Fall um durchschnittlich 60%). Wenn die
Unternehmen wieder das Umsatzniveau von 2007 erreichen, dann
werden die Aktien auch wieder auf dem damaligen Niveau stehen:
Der DAX steht dann bei 8.000.

Lassen Sie sich also nicht von Jahresvergleichen abschrecken,
sondern achten Sie auf den aktuellen Trend der
Geschäftsentwicklung. Und der zeigt steil nach oben.

Vergangenen Freitag habe ich vor einer Verschnaufpause gewarnt.
Diese ist tatsächlich eingetreten, wie Sie am DAX sehen. Der
Dow Jones hingegen hat gestern Abend, nachdem die deutsche
Börse schon geschlossen hatte, seinen Wochenverlust mit einer
heftigen Rallye ausgeglichen. Der DAX folgt heute. Schauen Sie
sich die Wochenperformance selbst einmal an:

INDIZES 22.10.09

Dow Jones 10.081 0,2%
DAX 5.763 -1,2%
Nikkei 10.283 0,3%
Euro/US-Dollar 1,505 1,2%
Euro/Yen 137,79 1,7%
10-Jahre-US-Anleihe 3,42% 0,0
Umlaufrendite Dt 3,09% 0,0
Feinunze Gold USD $1.060,97 1,4%
Fass Crude Öl USD $81,99 4,7%
Baltic Dry Shipping I 3.001 11,6%

Auslöser der Korrektur war meiner Ansicht nach ... nein, das
wäre Spekulation. Ich weiß es nicht, aber ich könnte mir
vorstellen, dass der Ölpreis über 80 USD/Fass und der
Wechselkurs über 1,50 USD/EUR bei einigen Anlegern Panik
ausgelöst hat. Wird ein hoher Ölpreis als Zeichen einer
gesunden Weltwirtschaftsentwicklung begrüßt, so fürchtet man
einen zu hohen Ölpreis als Bremse für die energieintensiven
Branchen.

Freuen sich die Amerikaner über die exportfördernde Wirkung des
schwachen US-Dollars, so bekommen sie es offensichtlich mit der
Angst zu tun, wenn der US-Dollar sich anschickt, völlig wertlos
zu verfallen.

Die psychologischen Marken für das Umschwenken von Dankbarkeit
zu Angst waren offensichtlich bei 80 USD/Fass und 1,50 USD/EUR.
Nun sind die Angsthasen aus dem Markt gejagt worden und die
Rallye kann weiter gehen.


HINWEIS

Im Eifer des Gefechts verdreht Ihr Autor schon mal Fakten und
Ereignisse. Meine Leser weisen mich auf solche Fehler hin. So
habe ich das Pflanzenschutzmittel von Monsanto Ready-up statt
Roundup genannt. Und, schlimmer noch, ich habe Infineon aus dem
DAX verbannt :-( Dabei wurde Infineon schon lange wieder in den
DAX aufgenommen. Ich sprach von Gerüchten über eine DAX-
Aufnahme von Infineon, obwohl das Unternehmen schon wieder
dabei ist. Das Gerücht hatte ich zu HeidelbergCement gehört.


STEUERFREIHEIT DER POST DIVIDENDE

Ich hatte Ihnen die attraktive Dividende bei der Deutschen Post
vorgestellt. Die Dividendenrendite beträgt 4%. Da die Deutsche
Post ihre Dividende aus dem steuerfreien Einlagenkonto
ausschüttet, fällt bei der Ausschüttung keine Steuer an.

Wenn Sie die Aktien der Deutschen Post jedoch innerhalb der
Spekulationsfrist (bei Käufen bis zum 31.12.2008 betrugt diese
12 Monate) verkaufen, so wird der Dividendenbetrag dem
Kursgewinn hinzugerechnet. So wird die Dividende also dennoch
versteuert.

Wer von Ihnen also Aktien der Deutschen Post hält und die
steuerfreie Dividende ausgeschüttet bekam, der sollte darauf
achten, dass er die Aktien nicht vor Ablauf der
Spekulationsfrist verkauft. Sonst muss die Dividende
nachversteuert werden.

Wer die Aktien erst im Jahr 2009 gekauft hat, der kommt
aufgrund der Abschaffung der Spekulationsfrist nicht mehr um
die Nachversteuerung beim Verkauf der Position herum.

SENTIMENTDATEN

ANALYSTEN:
Empfehlungen (Anzahl Empfehlungen):

Kaufen / Verkaufen
02.-09. Okt (176): 73% / 27%
09.-16. Okt (154): 83% / 17%
16.-23. Okt (172): 73% / 27%

ANALYSTEN KAUF
MAN, KPN, Air Liquide

ANALYSTEN VERKAUF
Peugeot, GlaxoSmithKline, ThyssenKrupp

PRIVATANLEGER:
Aktuell 67% Bullen (76 Stimmen)
Durchschnittlich erwarteter DAX-Endstand für heute: 5.815

PRIVATANLEGER KAUF
Nur Pennystocks

PRIVATANLEGER VERKAUF
Fannie Mae, Schmack Biogas, Commerzbank

Die Sentiment-Daten wurden in Zusammenarbeit mit Sharewise
erstellt: http://www.sharewise.com?heibel

Bislang hat Apple in den USA für iPhone-Vertragspartner AT&T
für gute Geschäfte gesorgt. In Deutschland profitiert iPhone-
Partner T-Mobile von dem Run auf das iPhone. O2 profitiert in
Großbritannien und so könnte die Liste noch lange weiter
aufgeführt werden.

Im nächsten Monat kommt ein neuer Vertragspartner hinzu. Ich
finde den Vertragspartner sehr attraktiv und habe eine
entsprechende Empfehlung im nächsten Kapitel ausgearbeitet.

===============================================================
05. LESERFRAGE: ÖLPREISSTEIGERUNG
===============================================================

Ihre Fragen schicken Sie bitte an leserfragen/at/heibel-
ticker/./de. Ich werde künftig nur noch eine Leserfrage
veröffentlichen. Den Rest beantworte ich direkt. Bitte fragen
Sie mich nur zu Unternehmen mit einem Marktwert von mindestens
100 Mio. Euro bzw. USD.

=================

FRAGE:

Hallo Herr Heibel,

eine kurze Frage. Wie sieht die tatsächliche Steigerung beim
Ölpreis aus, also die Steigerung auf Eurobasis und was bedeutet
das Ihrer Meinung nach für die zur Preissteigerung in Dollar
gemachten Einschätzungen?

Eine glückliche Hand und weiterhin viel Spaß und Zeit mitsamt
Ihrer Frau und Ihrem Nachwuchs

Peter aus Düsseldorf

ANTWORT:

Während der US-Dollar gegenüber dem Euro seit März diesen
Jahres 20% verloren hat, stieg der Ölpreis im gleichen Zeitraum
um 100%. Es kann also nicht alles nur ein Währungseffekt sein,
der Ölpreis steigt auch gerechnet in Euro (eine passende
Graphik habe ich leider nicht).

Aufgrund des festen Euros ist der Effekt der Teuerung durch die
steigenden Energiekosten für europäische Unternehmen also um
20% geringer als bei US-Unternehmen. Gleichzeitig sind wir in
Deutschland wesentlich weniger abhängig vom Ölpreis, wir haben
nicht mehr soviel Schwerindustrie. Der (durch Spekulanten hoch
getriebene) Ölpreis ist für uns also nicht so belastend wie für
die Amis. "

[Popeye82]

Valuation risks loom for China's start-up market - Reuters, SHANGHAI - 22 OCT 2009 16:18 BST

- By Lu Jianxin &Edmund Klamann - Analysis -

- SHANGHAI (Reuters) - ChiNext, a long-awaited Nasdaq-style market that China hopes will turn local start-up firms into budding Microsofts or Intels, may be hobbled by hefty valuations even before its launch this month in booming Shenzhen. -
www.reuters.com/article/innovationNews/idUSTRE59L3UW20091022

"SHANGHAI (Reuters) - ChiNext, a long-awaited Nasdaq-style market that China hopes will turn local start-up firms into budding Microsofts or Intels, may be hobbled by hefty valuations even before its launch this month in booming Shenzhen.

Analysts expect measures to curb rampant speculation will spare ChiNext the risk of failure that befell other start-up markets, but excessive valuations fed by enthusiastic investors could rattle Chinese stock markets over the next few months.

Investors taking their cue from ChiNext may also push already high PE ratios on China's main board even higher, just as the authorities approve a steady flow of IPOs and fine-tune monetary policy to ward off a re-run of the asset price bubble that preceded last year's global financial crisis.

Regulators hope ChiNext will form a pillar of China's economy by funnelling much-needed investment into a private sector that is crowded with some 10 million small- and medium-sized enterprises (SMEs).

For now, they must first tackle the excessive speculation in new stocks that has dogged China's modern stock market throughout its 18-year history, partly reflecting the lack of investment channels in a country where residents have squirreled away 26 trillion yuan ($3.8 trillion) in bank accounts.

A first batch of 28 firms will debut on ChiNext at the Shenzhen Stock Exchange on October 30. They all completed IPOs in the past month, setting IPO prices at an average 56 times 2008 earnings -- ranging from 40 times for ship engineering designer Shanghai Bestway 300008.SZ to 82 times for underground rail power system developer Dinghan Technology 300011.SZ.

In comparison, the average historical price/earnings ratio of Shenzhen-listed shares is 39 times and the PE of stocks on China's main Shanghai Stock Exchange is 26. Both already appear pricey against 17 times for Hong Kong-listed shares.


KEY RISK

"High valuations will no doubt be a key risk, although we expect others, such as more frequent stock delistings, will endanger investments in the new market," said economist Jin Dehuan at Shanghai Securities and Futures Institute.

Jin and other analysts note that sky-high valuations were partly to blame for other start-up markets to fail, such as the doomed 2003 merger of Germany's New Market into the main board.

The 28 new ChiNext listees, almost all private companies in contrast with the domination of state-owned corporations on China's main board, raised a combined 15.5 billion yuan in their IPOs, more than double the planned 7.1 billion yuan, and locked up a huge 1.87 trillion yuan in subscription funds, with an average oversubscription ratio exceeding 120 times.

More than 100 companies are on ChiNext's waiting list.

The huge interest has created dozens of yuan billionaires overnight, such as Pu Zhongjie, president of equipment maker Lepu Medical Technology 300003.SZ, whose holdings in his firm are now worth 1.75 billion yuan.

Market debuts are sure to create more super-rich, as analysts note it is typical for IPOs listing in Shenzhen to double or triple on the first day of trade because of low capitalization.

An informal survey of eight economists, analysts and fund managers forecast the average historical PE of the 28 will exceed 100 times after the first day of trade, despite the Shenzhen bourse setting strict debut-day circuit breakers and other risk-control steps.

In contrast, the companies' average earnings growth is not expected to surpass 30 percent a year over the three years from 2009, according to those surveyed, suggesting investor enthusiasm far exceeds the companies' profit growth potential.

"We weren't active in subscribing to the ChiNext IPOs, nor will we take an active part in trade immediately," said one Chinese fund manager in Beijing, who aims to steer clear of the boom-and-bust cycle expected during the market's initial two or three months. The manager declined to be identified because he was not authorised to talk to the media about the market.

Several fund managers expect interest will ebb after 2-3 months, especially if some retail investors are badly burned.

A cooling off may allow valuations to drop and investments to take a more rational approach.

(Editing by Ian Geoghegan)

($1=6.83 Yuan) "

[Popeye82]

Canada's oil patch, mines tempt Asian giants - Reuters, CALGARY/TORONTO - 22 OCT 2009 23:15 BST

- By Jeffrey Jones &Pav Jordan -

- CALGARY/TORONTO (Reuters) - Canada's energy and mining sectors are riding a wave of acquisitions by Asian companies that are flush with cash and hungry for resources to fuel rapidly expanding economies, a trend not expected to let up soon. -
www.reuters.com/article/wtUSInvestingNews/idUSTRE59L66E20091…

[Popeye82]

Precious Metal Stock Review - Oct 24, 2009
www.preciousmetalstockreview.com/downloads/October%2024,%202…

[Popeye82]

Agrium warns on Q3 earnings - Mining Weekly, TORNTO - Oct 23, 2009

- Liezel Hill -

"TORONTO (miningweekly.com) – Canadian fertiliser group Agrium expects third quarter net income will be between 90% and 95% below earnings reported by the company in the same period of 2008. ..."
www.miningweekly.com/article/agrium-warns-on-q3-earnings-200…

[Popeye82]

"Als die OPEC den Ölpreis bestimmte
- Miriam Kraus -


Liebe Leserin, lieber Leser,

gestern haben wir uns einen kleinen Überblick über die Historie der Verwendung des Erdöls, sowie der Erdölförderung und der historisch wachsenden Bedeutung des Erdöls als Energierohstoff gegönnt. Heute möchte ich mich zunächst noch mit der Entwicklung des Ölpreises und der Geschichte der OPEC befassen, bevor wir dann tatsächlich auf den Ölmarkt zu sprechen kommen.


Die OPEC -Gründung

Zum Schutz ihrer Interessen und um einen weiteren Preisverfall zu verhindern, gründeten 1960 die fünf wichtigsten Ölfördernationen (Iran, Irak, Kuwait, Saudi-Arabien und Venezuela) die OPEC (Organization of Petroleum Exporting Countries). Die Gründung der OPEC war für die Fördernationen mehr als bedeutsam, denn während die Bedeutung des Erdöls für die wachsenden Volkswirtschaften der Industrienationen immer größer wurde und die Gewinne der Ölgesellschaften immer höher ausfielen, waren eben jene Ölgesellschaften bestrebt die von Ihnen aufgestellten Listen- also Abnahmepreise so tief wie möglich zu halten.

Gegenwärtig umfasst die OPEC 12 Mitglieder. Neben den oben genannten Gründungsmitgliedern sind dies: Nigeria, Algerien, Libyen, Angola, Katar, die Vereinigten Arabischen Emirate und Ecuador .

Die OPEC steht für mehr als 44 % der weltweiten Ölförderung und verfügt schätzungsweise über 75 % der aktuelle nachgewiesenen weltweiten Ölreserven, ohne Einbeziehung der weltweiten Ölsandreserven.


Die OPEC bestimmt den Ölpreis

Die erste Demonstration ihrer Stärke bewies die OPEC schließlich im Jahr 1973. Damals boykottierten die Mitglieder nach dem Kriegsausbruch im Nahen Osten (Yom-Kippur-Krieg) die Öllieferungen in die USA und die Niederlande. Die Folge davon war die erste Ölkrise", die zwar einen wesentlich stärkeren psychologischen Charakter aufwies, aber dennoch zu einem massiven Anstieg des Ölpreises um 400 % auf 45 US-Dollar p.B. führte.

Dieser Erfolg stärkte das Selbstbewusstsein des Kartells enorm. Bis in die 80er Jahre hinein kontrollierte die OPEC den Ölpreis massiv.

Nach dem Sturz des persischen Schahs Mohammed Reza Pahlavi im Jahr 1979, der darauf folgenden Umstrukturierung des iranischen Herrschaftssystems und dem folgenden Iran-Irak-Krieg erlebte der Ölpreis einen weiteren massiven Anstieg auf den damaligen Rekordpreis von über 80 US-Dollar pro Barrel (inflationsbereinigt etwa 35 US-Dollar).


Die OPEC verliert an Einfluss

Mitte der 80er Jahre begannen sich die Ölförderer außerhalb der OPEC auf dem Markt zu etablieren. Dies führte zu mehr Wettbewerb und einem erhöhten Angebot an Öl auf dem Weltmarkt.

Die Ölpreise sanken inflationsbereinigt unter die 20 US-Dollar Marke (nominal unter 30 US-Dollar) und die OPEC war mit einem schwindenden Einfluss auf die Ölpreisentwicklung konfrontiert.

So begann die OPEC schließlich mit der Einführung von Förderquoten, welche allerdings bis heute nicht vollumfänglich von allen Mitgliedsstaaten eingehalten werden. Die mangelnde Disziplin der Mitglieder und ihr Unvermögen als tatsächliche Einheit ihre Stärke zu demonstrieren war mit einer der Faktoren für den schwindenden Einfluss der OPEC.

In den 90er Jahren lag der Ölpreis fast durchweg zwischen 20 und 30 US-Dollar pro Barrel, unterbrochen nur durch die irakische Invasion in Kuwait Anfang der 90er, als der Ölpreis nominal wieder die 30 US-Dollar- Marke nach oben durchbrach und die Asienkrise zum Ende der 90er Jahre die zu einem massiven Einbruch des nominalen Ölpreises auf 15 US-Dollar führte.


Die OPEC heute

Der massive Anstieg der Ölpreise seit Anfang des Jahrtausends ist nicht mehr nur vom Faktor OPEC abhängig. Zwar spiegeln sich die OPEC Entscheidungen ebenfalls in der Preisentwicklung wieder, doch dies eher auf spekulativer, als auf fundamentaler Basis. Obgleich natürlich der OPEC -Korbpreis, neben den beiden wichtigsten an den Warenterminbörsen handelbaren Rohölsorten West Texas Intermediate und Brent Crude, eine Leitgröße in der Branche ist. Die OPEC berechnet ihren Korbpreis auf der Basis der 12 wichtigsten Rohölsorten des Kartells.

Seit der Jahrtausendwende spielen aber zunehmend andere Faktoren eine zentrale Rolle für die Entwicklung der Ölpreise. Wie die Peak-Oil Besorgnis, also die Erwartung der Marktteilnehmer auf ein mögliches Erreichen des weltweiten Fördermaximums, der Faktor der wachsenden Emerging Markets und allen voran die schnell wachsenden Volkswirtschaften Asiens mit ihrer massiv steigenden Nachfrage, aber auch die Furcht vor heißen Phasen politischer Konflikte. Oder auch ganz konkret und aktuell die negative Korrelation zum US-Dollar, Inflationsängste und Rohstoffinvestments als Absicherungsstrategien.


Erdöl: historische Preisentwicklung
von Miriam Kraus


Nominalpreisentwicklung in US-Dollar pro Barrel (1965-2005)

Quelle: theoildrum

So long liebe Leser...so viel zur Ölpreishistorie und der OPEC....am Montag gehts weiter mit der Angebots-und Nachfragesituation auf dem Ölmarkt, der Unterscheidung verschiedener Rohölsorten und Investitionsmöglichkeiten...liebe Grüße

Ihre Miriam Kraus "

[Popeye82]

The State of the Great Outdoors: America's Parks, Public Lands, and Recreation Resources - RFF - Sep09

- Margaret A. Walls, Sarah R Darley &Juha V. Siikamäki -
www.rff.org/RFF/Documents/RFF-RPT-ORRG-State-of-Outdoors.pdf

[Popeye82]

An Experimental Study of Auctions versus Grandfathering to Assign Pollution Permits - RFF, Discussion Paper - Sep09

- Jacob Goeree, Charles Holt, Karen L. Palmer, William Shobe &Dallas Burtraw -

- We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot market should erase inefficiencies due to initial mis-allocations. In the experiment, high emitters exercise market power in the spot market and permit holdings under grandfathering remain skewed towards high emitters. Furthermore, the opportunity costs of “free” permits are fully “passed through.” In the auction, the majority of permits are won by low emitters, reducing the need for spot-market trading. Auctions generate higher consumer surplus and slightly lower product prices in the laboratory markets. Moreover, auctions eliminate the large “windfall profits” that are observed in the treatment with free, grandfathered permit allocations. -
www.rff.org/RFF/Documents/RFF-DP-09-39.pdf

[Popeye82]

Gold Sector Report - Edison Investment Research - Oct 21, 2009

- featured Companies: Archipelago Resources, Allied Gold, Ariana Resources, Avocet Mining, Centamin Egypt, Central African Gold, Central Rand Gold, Chaarat Gold, China Goldmines, Cluff Gold, Condor Resources, Conroy, European Goldfields, Galantas Gold, GMA Resources, Greatland Gold, Greystar Resources, Hambledon Mining, Highland Gold, Kirkland Gold, Kryso Resources, Leyshon Resources, Medoro Resources, Medusa Mining, Metals Exploration, Moto Goldmines, Norseman Gold, Orsu, Oxus Gold, Pan African Resources, Patagonia Gold, Peninsular Gold, Peter Hambro, Randgold Resources, Serabi Mining, Shanta Gold, Stratex International, Tianshan Goldfields, Trans-Siberian Gold, Uruguay Minerals, Vatukoula Gold, Wits Gold -
www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August…

[Popeye82]

Quarterly Commodity Update - Dundee Capital Markets - Oct 23, 2009
www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August…

[Popeye82]

Linking Ecological Science and Economic Preferences - RFF - Sep09

- James Boyd &Alan Krupnick -

- In a new RFF Discussion Paper, The Definition and Choice of Environmental Commodities for Nonmarket Valuation, Senior Fellows James Boyd and Alan Krupnick examine a key conceptual issue central to effective interdisciplinary collaboration between economists and ecologists: identifying ecological endpoints, the nonmarket environmental goods and services most amenable to economic valuation. This requires describing ecological outputs in such a way that they are both consistent with ecological science and meaningful to respondents. The first drives new biological research and data collection and the second drives improvements in the economic science of describing preferences for environmental improvements in monetary terms.


From the paper:

Ecological systems are complex. Economists using stated preference techniques to value ecological changes face a daunting task: how to decompose these systems into commodities that are both consistent with ecological science and meaningful to respondents. We argue that ecological production theory bears directly on the commodity definition issue. It helps identify the linkages necessary to integrate ecological science with commodities useful to valuation. It also helps address a set of cognitive issues that arise when stated preference subjects are asked to assign value to environmental commodities that are complex or ambiguous. Production theory also helps avoid double counting and clarifies the interpretation of both elicited and revealed willingness-to-pay (WTP) values.

Overall, we hope to contribute to a larger conversation within nonmarket valuation about commodity definition. The difficulties associated with deriving WTP estimates have, in our view, distracted attention from a more basic issue: what commodities are actually creating value and what are the relationships between those commodities? Some of the arguments presented below raise questions about the validity and/or interpretability of stated and revealed preferences. Our goal, though, is to generate new questions and insight into how nonmarket valuations should be conducted empirically. …

Another reason to discuss commodity definition is the growing interdisciplinary ecosystem services movement. Ecosystem services analysis explicitly demands a linkage between ecological outcomes and economic consequences. This elevates the importance of getting units right—or at least clarifying why economic analysts use the commodity units we do. The ultimate goal is for natural scientists and economists to describe ecological changes in the same, relevant and meaningful units. -
www.rff.org/News/Features/Pages/Linking-Ecological-Science-a…
www.rff.org/RFF/Documents/RFF-DP-09-35.pdf

[Popeye82]

REN21 releases “Chinese Renewables Status Report 2009″ and datasets - Biofuels Digest - Oct 19, 2009
www.biofuelsdigest.com/blog2/2009/10/19/ren21-releases-chine…
www.ren21.net/news/news38.asp
www.ren21.net/pdf/Recommendations_for_RE_Policies_in_China.p…
www.ren21.net/pdf/Background_Paper_Chinese_Renewables_Status…

"In China, REN21 released its report, “Recommendations for Improving the Effectiveness of Renewable Energy Policies in China,” produced in collaboration with the Chinese Renewable Energy Industry Association (CREIA) and technology experts from Chinese research institutions and the private sector.

The report reviews the Renewable Energy Law of 2005 and the Medium-and Long-Term Development Plan for Renewable Energy of 2007 and addresses grid connectivity, policy enforcement, lack of R&D and technical experts in wind technology, strong dependence of the solar photovoltaic industry on foreign markets, and the need for a centralized renewable energy industry association. The report also examines with solar water heating, biomass power generation, biomass pellet production, small hydro power, geothermal and ocean energy. The report includes the “Chinese Renewables Status Report 2009″ and datasets. "

[Popeye82]

World must use GM crops, says UK science academy - Reuters, LONDON - Wed Oct 21, 2009

- By Gerard Wynn -
www.reuters.com/article/GCA-GreenBusiness/idUSTRE59K0AT20091…
www.biofuelsdigest.com/blog2/2009/10/23/uks-royal-society-sa…

"LONDON (Reuters) - The world needs genetically modified crops both to increase food yields and minimize the environmental impact of farming, Britain's top science academy said on Wednesday.

The Royal Society said in a report the world faced a "grand challenge" to feed another 2.3 billion people by 2050 and at the same time limit the environmental impact of the farm sector.

The world will have to increase food output by 70 percent and invest $83 billion annually in developing countries by mid-century, the U.N.'s Food and Agricultural Organization said earlier this month.

"The problem is such an acute one, doing that sustainably without eroding soil, overusing fertilizers is an enormous challenge," said the chair of the Royal Society report, Cambridge University's David Baulcombe.

"There isn't a lot more land to use," he told Reuters. "And from the point of expense and using fossil fuels, we want to use less fertilizer."

"The food supply problem is likely to come to a head 10, 20, 30 years from now," he said, adding this didn't leave much time given the research lead time to develop new crops.

The answer would be a range of approaches from hi-tech genetically modified crops to low-tech management approaches such as sowing grass around maize to divert pests, as well as preserving the diversity of natural, wild crop varieties.

Farming indirectly, including deforestation, accounts for a third of greenhouse gases, say scientists, underlining the problem of increasing production simply by clearing more land or using more fertilizers, the biggest source of a powerful greenhouse gas nitrous oxide.


RESEARCH

Britain had to invest an extra 50 ($82.13 million) to 100 million pounds annually in research to boost innovation in a sector which had lost allure following food over-supply in Europe, the report said.

A combination of changing diets, growing population, demand for farmland for biofuels and high energy prices have stoked food prices and renewed interest in agriculture.

Wednesday's report invoked the successes of the Green Revolution of the 1960s, but aimed for a more sustainable approach. That revolution had more than doubled food output over 30 years but had also degraded soils in some cases.

The world must develop over the next 16 years through genetic modification and conventional breeding varieties of crops resistant to disease, drought, salinity, heat and toxic heavy metals, the report said.

Progress in DNA-sequencing had made more plant genes available for engineering, improving the predictability of results in a "second generation" GM approach. "We're looking at a different base than 10 years ago," said Baulcombe.

A combination of the food crisis and the global economic downturn has pushed more than 1 billion people into hunger in 2009, U.N. agencies said last week, confirming a grim forecast released earlier this year.

The Pressure group Greenpeace said GM crops were a costly distraction from tackling hunger through fighting poverty and helping smallholders in developing countries sell their product.

"Poverty and hunger are the same thing," said Marco Contiero, Greenpeace's European GM policy director, who pointed out that the world already produced enough to feed itself, if that were shared fairly and there was less waste.

(Editing by James Jukwey) "

[Popeye82]

Battery Maker A123 Systems Targets $250M in DoE Loans - CleanTech Brief - October 21, 2009
http://cleantechbrief.com/node/1007

[Popeye82]

GE Joins $23M SolarEdge Funding Round - CleanTech Brief - October 20, 2009
http://cleantechbrief.com/node/1001

"GE has joined a $23 million funding round by the Israeli solar company SolarEdge, a producer of technologies that can increase solar power system outputs by up to 25%.

GE made the investment, its first in Israel, through its Energy Financial Services unit. Other SolarEdge investors include venture capital firms Opus Capital and Walden International, the Israeli funds Genesis Partners and Vertex Venture Capital and the Singaporean fund JP Capital Asia.

The money will be used to support growth in residential and large-scale photovoltaic (PV) sites.

“We will use this financing to further promote our solar power harvesting system, which can be embedded in practically all types of solar photovoltaic panels to maximize power generation while dramatically reducing costs,” said Guy Sella, chairman, CEO and co-founder of SolarEdge, in a statement. “By partnering with GE, we benefit from the company’s proven R&D capabilities, energy technology expertise and deep commercial market reach.”

SolarEdge provides PV power harvesting and monitoring technology to maximize the energy output and cost efficiency of solar PV units. The company partners with firms like BP Solar and Schott Solar, Isofoton, HaWi Energitechnik, Gehrlicher solar and many others to embed its technology into photovoltaic panels to increase their power output by up to 25% and provide superior monitoring and control, without increasing costs. "

[Popeye82]

Canada to Invest $780M in Carbon Capture Project - CleanTech Brief - October 16, 2009
http://cleantechbrief.com/node/996

"The Canadian government and the government of the province of Alberta will spend $779 million over 15 years on a carbon dioxide capture project to be located west of Edmonton.

Canadian Prime Minister Stephen Harper was in attendance on Wednesday as funding was announced for the project to be carried out by TransAlta Corp at its Keephills 3 coal-fired generator near Wabamun Lake.

The aim of ‘Project Pioneer,’ as it’s been dubbed, is to capture and store up to 1 million tonnes of CO2 annually as one of the first large-scale facilities of its kind in the world.

Harper said such projects would “define the future of this industry. Carbon capture and storage has the potential to help us balance our need for energy with our duty to protect the environment.” "

[Popeye82]

Westly Group Founder Promotes Chinese Cleantech - leanTech Brief - October 16, 2009
http://cleantechbrief.com/node/994

"Silicon Valley venture capitalist (and former gubernatorial candidate) Steve Westly says VC firms should not only invest in cleantech – they should invest in Chinese cleantech.

Steve WestlyWestly made the comments this week during a cleantech conference sponsored by the Silicon Valley law firm Cooley Godward.

“No VC firm should be without a China strategy,” he told several hundred conference participants. “China will pass the U.S. in 20 years as the largest economy in the world. There are only two countries that matter – the U.S. and China. They create 40% of the world’s pollution, and the other 191 countries divvy up the rest….I go to China every 90 days – China knows the big health issues they’re facing.”

China has imposed more stringent fuel efficiency standards than the U.S. (42MPG compared to 39MPG, offers a bigger solar and wind energy investment tax credit (50% against 30%), and is calling for 20% of its energy to be produced from renewable sources by 2020.

The Westly Group is currently looking for Chinese companies in which to invest its new $120 million fund, which invests in B or C rounds and expects to see a return within two to four years. "

[Popeye82]

Soros To Make $1 Billion-Plus Commitment To Clean Energy - CleanTech Brief - October 12, 2009
http://cleantechbrief.com/node/981

"Hedge fund billionaire George Soros is pouring more than $1 billion into a different kind of green. The Soros Fund Management chief, a well-known supporter of liberal causes, announced Saturday that he’ll invest $1 billion in clean-energy technology and found a new environmental policy group.

Soros’ announcement came in Copenhagen, Denmark, which will host negotiations toward a climate-change treaty later this year. While Soros didn’t offer any insight into what types of cleantech companies he planned to invest, he did promise to apply “rather stringent criteria” in selecting them.

“They should be profitable but should also actually make a contribution to solving the problem,” he said.

He offered some more details about his Climate Policy Initiative, to which he pledged $100 million over the next 10 years. The new San Francisco-based group will be headed by Stanford University Law School professor Thomas Heller.

“The problem of global warming is primarily a political problem at this point,” Soros said. “The science is beyond dispute, but how do we achieve the objectives we all know are necessary? That is a political problem.”

Soros also weighed in on one of the biggest political problems in the global-warming debate, announcing he favors a carbon tax rather than a cap-and-trade system. "

[Popeye82]

Abcam, Immupharma, Vertu Motors, Asian Citrus, Max Property Group, Research Now, May Gurney Integrated Services and ToLuna among winners at annual AIM Awards - Proactiveinvestors - Oct 19, 2009
www.proactiveinvestors.co.uk/companies/news/9230/abcam-immup…

[Popeye82]

Growth Enterprise Board to start trading on October 30th - Proactive Investors China - Oct 19, 2009
www.proactiveinvestors.com.hk/market_news/1777-growth-enterp…

"The long-awaited Nasdaq-style Growth Enterprise Market will start trading on October 30, despite earlier announcements that it would begin this week.

Officials from the Shenzhen Stock Exchange said the 28 companies to list on the board will publish registration statements on the on October 26 after they get listing approval.

The 28 companies, which will share sales to mainland Chinese investors and qualified foreign investment institutions (QFII) include pharmaceutical, new energy, software and electronics companies. They have also raised a combined RMB15.48 billion (US$2.26 billion), twice the amount planned.

Price-to-earnings for the 28 firms is however very high at 55 times, compared to an average 36 times for IPO on the main Chinese boards so far this year. As a result there is concern that the shares will drop on debut.

The Shenzhen Stock Exchange has ruled that any share on the new board that increases or decreases by more than 80 percent on the first day of trading will be suspended until three minutes before the market's close "

[Popeye82]

Sinovac's bird flu vaccine wins approval in Hong Kong - Proactive Investors - Oct 14, 2009
www.proactiveinvestors.com.hk/stock_news/1749-sinovac-s-bird…

[Popeye82]

Innovating through Alliance: A Case Study of the DuPont–BP Partnership on Biofuels - PCoGCC - Sep09

- By Truman Semans &Andre de Fontaine -

- This case study on DuPont and BP’s partnership on advanced biofuels aims to provide insights into how industry alliances can deliver innovation and new technologies in an accelerated fashion.

In June of 2006, DuPont and BP announced a partnership to develop and market advanced biofuels designed to overcome many of the environmental and economic limitations associated with biofuels currently on the market. The first product scheduled for commercialization is biobutanol, which can be made from the same plant materials as ethanol, the currently dominant biofuel. Biobutanol, however, has several advantages over ethanol, including potentially lower lifecycle greenhouse gas (GHG) emissions, higher energy content, and better supply and distribution dynamics. These advantages stem in part from the novel method DuPont developed to convert plant sugars and starches into a combustible liquid, using an advanced biocatalyst instead of traditional yeast.

Focusing particularly on DuPont’s perspective, this paper describes important elements of the corporate strategy process that resulted in this effort to capture a new business opportunity for climate-friendly technology. It is part of the Pew Center’s ongoing research into best practices for corporate strategies that address climate change. The paper is not an endorsement of biobutanol or any specific fuel DuPont and BP may develop in the future. Rather, the goal of this paper is to highlight the strategy and process DuPont undertook in partnering with BP to develop the fuel, in hopes of identifying lessons that other firms can apply in advancing climate-related technologies as changes in public policy dramatically transform markets worldwide. The Pew Center also aims to help policymakers understand how to shape policies and programs in a way that unleashes the innovation and investment capabilities of the private sector in addressing climate change. -
www.pewclimate.org/docUploads/DuPont-BP-partnership-on-biofu…

[Popeye82]

Climate TechBook - PCoGCC - 2009
www.pewclimate.org/climate-techbook

[Popeye82]

Karadzic boycott threat sets up trial stand-off - Reuters, AMSTERDAM - 26 OCT 2009 06:22 GMT

- By Aaron Gray-Block -

- AMSTERDAM (Reuters) - A stand-off looms on Monday between former Bosnian Serb leader Radovan Karadzic and trial judges after the war crimes suspect said he would boycott the start of his trial on claims he is being denied a fair process. -
http://uk.reuters.com/article/idUKTRE59P0TV20091026

"AMSTERDAM (Reuters) - A stand-off looms on Monday between former Bosnian Serb leader Radovan Karadzic and trial judges after the war crimes suspect said he would boycott the start of his trial on claims he is being denied a fair process.

More than 13 years after an arrest warrant was issued, Karadzic is to face 11 war crimes charges, including genocide at Srebrenica, during the 1992-95 Bosnian war, but he says he has not had enough time to prepare his defence.

"The biggest, most complex, important and sensitive case ever before this tribunal is about to begin without proper preparation," Karadzic wrote in a letter to the International Criminal Tribunal for the former Yugoslavia (ICTY) this week.

"I hereby inform you my defence is not ready for my trial that is supposed to begin as scheduled on the 26th of October, and that therefore I shall not appear before you on that date."

Karadzic's lawyer Peter Robinson also told Reuters he will not attend the opening day, adding Karadzic intends to boycott the case for nine months until he is adequately prepared.

The boycott therefore presents a dilemma to court judges, who stressed via court spokeswoman Nerma Jelacic the trial will still start as scheduled on Monday.

But faced with the prospect of an empty dock, they will need to decide how to proceed. Options may include suspending the proceedings, imposing counsel to represent Karadzic, starting the trial without him or forcing him to attend proceedings.

Chief Prosecutor Serge Brammertz denies Karadzic did not have enough preparation time and says the prosecution is ready.

Conscious of avoiding a repeat of the trial of Slobodan Milosevic which lasted more than 4 years and ended without a verdict when the former Yugoslav president died in custody in 2006, Brammertz has streamlined the case against Karadzic.

Brammertz aims to call fewer witnesses and include crimes in fewer locations, but still try to illustrate the magnitude of the charges, starting with the siege of Sarajevo and ending with the Srebrenica genocide.

Even so, the trial is expected to continue into 2012.


ETHNIC CLEANSING

Karadzic, who helped form the Serbian Democratic Party before declaring a breakaway Bosnian Serb state in 1992, is accused of involvement in a joint criminal enterprise, whose purpose was to remove Bosnian Muslims and Bosnian Croats from areas of Bosnia and Herzegovina via "ethnic cleansing".

"Karadzic's trial is one of the key proceedings before the tribunal and it is crucial for Serbia," said Dusan Ingnatovic, director of the Serbia's National Office for Cooperation with the ICTY.

"Serbia proved it was willing to cooperate with the tribunal. We need such a cooperation not only because of our EU bid, but also because we must establish what really happened here during the (Yugoslav) wars."

Prosecutors initially wanted to try Karadzic and fugitive former Bosnian Serb military commander Radko Mladic together, but separated the case last week with Mladic "

[Popeye82]

U.S. healthcare system wastes up to $800 billion a year - Reuters, WASHINGTON - 26 OCT 2009 04:36 GMT

- By Maggie Fox, Health and Science Editor -

- WASHINGTON (Reuters) - The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud, according to a Thomson Reuters report released on Monday. -
www.reuters.com/article/GCA-HealthcareReform/idUSTRE59P0L320…

[Popeye82]

Sony in PS3 movie streaming deal with Netflix - Reuters, SAN FRANCISCO - 26 OCT 2009 04:42 GMT

- By Gabriel Madway -

- SAN FRANCISCO (Reuters) - Sony said on Monday it is partnering with Netflix to provide access to the online movie rental company's library through Sony's PlayStation 3 video game console. -
http://in.reuters.com/article/internetNews/idINTRE59P0N12009…

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Brazil Discards Iron Tax Following Vale Talks - Mining Technology - 26 October 2009
www.mining-technology.com/news/news67885.html?WT.mc_id=DN_Ne…

"Brazil has scrapped a proposal to enforce an iron export tax after mining company Vale decided to increase investments in Brazil under pressure from the government.

The government, however, is still contemplating a hike in mining royalties that is being opposed by the industry because it would affect investment in the sector.

The Brazilian iron ore producer decided to increase its investments in 2010 to $12.9bn, a 30% hike, following an announcement to invest $5.6bn in the state of Minas Gerais by 2015, according to Mining Weekly Online.

The investment follows months of continuous criticism from the Brazilian Government regarding Vale's inadequate role in advancing economic development and improving the steel industry.

From late 2008 Vale was condemned in Brazil after it fired 1,200 Brazilian employees and idled capacity as the economic slump reduced global metals demand and stopped a five-year commodities boom.

The Brazilian Government has since criticised Vale for excessive dependence on raw material exports, alleging that the move did not create sufficient local jobs despite providing foreign exchange. "

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Chinese Companies Look to Invest in Mines - Mining Technology - 23 October 2009
www.mining-technology.com/news/news67883.html?WT.mc_id=DN_Ne…

"Mining companies are aggressively initiating strategic investments and fund raising to develop new mining projects, particularly in China, where companies are eager to invest.

China-based gold company Zijin Mining says it is considering a $1bn investment in copper and gold ventures in the Philippines over the next five years.

Zijin has been seeking mineral resources acquisitions outside China and has already made investigations into several overseas projects.

China Nonferrous Metal Mining Group Co (CNMC) has completed Chinese and Zambian government approval procedures to acquire Luanshya Copper Mines (LCM) of Zambia. CNMC has acquired an 80% stake in LCM for $50m.

CNMC's successful acquisition of LCM will increase the latter's reserves of copper, cobalt and other resources by about three million tons.

Also in China, Yanzhou Coal's $3.2bn takeover bid was approved this week by Australia's Felix, which produces about 4.8 million tons of coal a year.

Moly Mines signed a subscription agreement with Hanlong Mining Investment, Sichuan Hanlong's Chinese subsidiary, through which the latter will offer $200m in equity and debt funding to Moly.

According to the agreement, Hanlong will also arrange or provide $500m debt funding by 30 June 2010 for the Spinifex Ridge molybdenum / copper project.

The funding will allow Moly develop the ten-million-tons-per-annum Spinifex Project by mid-2010 in addition to repaying outstanding payments.

In the Americas, Toronto-based Volta Resources Inc signed a definitive agreement with Randgold Resources to acquire the latter's interests in the Kiaka gold project in Burkina Faso for C$4m and 20 million Volta shares.

And in Australia, a merger agreement between small-cap mining company Sylvania Resources and Finnish metals refining group Ruukki has been called off following negotiations that kicked off in June.

Ruki was hoping to buy Sylvania for €268m in an all-share deal but both parties struggled to implement the deal. "

[Popeye82]

EU may force BA, AA to give up air slots - Reuters, LONDON - 26 OCT 2009 07:18 GMT

- LONDON (Reuters) - British Airways, American Airlines and Iberia may have to give up take-off and landing slots for their Oneworld trans-atlantic alliance to go ahead, the Financial Times reported on Monday. -
http://uk.reuters.com/article/idUKTRE59P04Y20091026

[Popeye82]

Volkswagen in talks for insolvent Karman: sources - Reuters, FRANKFURT - 25 OCT 2009 13:39 GMT

- FRANKFURT (Reuters) - Volkswagen aims to take over Germany's Karmann, bringing the company back from the brink of going bust, two people familiar with the matter said. -
http://in.reuters.com/article/businessNews/idINIndia-4342562…

"FRANKFURT (Reuters) - Volkswagen aims to take over Germany's Karmann, bringing the company back from the brink of going bust, two people familiar with the matter said.

"Talks have been going on for some time, but there is no agreement yet on a price," one of the sources told Reuters on Sunday.

Without fresh funds, the German independent contract carmaker and convertible roof-top specialist that filed for insolvency in April, will have to shut down in early November as new orders are scarce and customers remain unwilling to pay their bills.

A spokesman for Karmann told Reuters that Karmann and Volkwagen had been in touch with each other but declined to comment on the content of talks. Volkswagen declined to comment.

Sources said that the three families that own Karmann -- Battenfeld, Boll and Karmann -- want to fetch a price of about 65 million euros ($97.5 million) from any buyer.

That figure includes outstanding payments for a painting plant that Karmann bought for about 100 million euros a few years ago and has not yet paid off.

German weekly magazine Spiegel had said in a preview of an article to be published on Monday that Volkswagen has bid a low double-digit million euros sum for Karmann, considerably less than the owning families are looking to get.

Most famous for the 1950s VW Beetle-based coupe dubbed the Karmann Ghia, Karmann also developed the retractable hardtop roof first introduced with the Mercedes-Benz SLK before the idea was later copied by competitors, finding widespread use in popular volume models like the Peugeot 207cc.

(Reporting by Arno Schuetze; Editing by Mike Nesbit) "

[Popeye82]

Karstadt administrator says can find buyer: report - Reuters, FRANKFURT - 24 OCT 2009 12:49 GMT

- FRANKFURT (Reuters) - The administrator of Karstadt, a unit of insolvent German retailer Arcandor , is still confident that an investor will buy the department store chain as a whole, according to an interview for weekly magazine Focus. -
www.reuters.com/article/innovationNews/idUSTRE59N0WL20091024

[Popeye82]

Iran hints at acceptance of nuclear deal - Reuters, TEHERAN - 26 OCT 2009 15:29 GMT

- By Reza Derakhshi -

- TEHRAN (Reuters) - Iran said on Monday it could endorse a U.N. deal for it to send potential nuclear fuel abroad for processing, contradicting lawmakers who rejected the plan sought by world powers as a trap. -
http://uk.reuters.com/article/idUKDAH62931620091026

"TEHRAN (Reuters) - Iran said on Monday it could endorse a U.N. deal for it to send potential nuclear fuel abroad for processing, the first official indication that Tehran could respond positively to the outline agreement.

The remark by Foreign Minister Manouchehr Mottaki was the most positive yet from a senior Iranian official and hinted at a shift in backroom debate between hardliners and moderates in the faction-ridden Iranian leadership on whether to accept the deal.

French Foreign Minister Bernard Kouchner said it was urgent for world powers to make a lasting deal with Tehran to avert an Israeli strike over its disputed nuclear programme.[nLQ129048]

"They (Israel) will not tolerate an Iranian bomb. We know that, all of us. So that is an additional risk and that is why we must decrease the tension and solve the problem. Hopefully we are going to stop this race to a confrontation," Kouchner said.

"There is the time that Israel will offer us before reacting, because Israel will react as soon as they know clearly that there is a threat," he added in an interview published by Britain's Daily Telegraph daily.

In Iran, Iranian officials said U.N. inspectors were given access to a hitherto secret uranium enrichment site bunkered inside a mountain near the holy Shi'ite city of Qom.

The four senior experts from the International Atomic Energy Agency intended to verify Tehran's stance that the plant was designed to make only low-enriched fuel for electricity, not the high-purity version for nuclear arms.

Alaeddin Boroujerdi, head of the Iranian parliament's national security and foreign affairs committee, said later the inspectors had carried out their mission and suggested they may leave Iran later on Monday, ISNA news agency reported.

Diplomats in Vienna, where the IAEA is based, said the inspectors, who arrived in Iran on Sunday, had been expected to stay several days. It was not known if they had been granted all the access and provided all the documentation they wanted.

The IAEA declined to comment.

Understandings on the fuel plan and U.N. monitoring of the enrichment site under construction were struck at high-level Geneva talks between Iran and six world powers on October 1.

They see the deals as litmus tests of Iran's stated intent to use enriched uranium only for peaceful ends, and a basis for more ambitious negotiations on curbing enrichment in Iran to defuse a crisis over its nuclear aspirations.


IRAN LEANING Towards APPROVING FUEL PLAN?

Mottaki said Iran could either send part of its low-enriched uranium (LEU) stockpile abroad for specialized processing into fuel for a Tehran nuclear medicine facility that is running out of it, or buy the material from foreign suppliers.

"In order to obtain this fuel, we might spend money as in the past or we might present part of the fuel that we have right now, and currently do not need, for further processing," he was quoted by the official news agency IRNA as saying.

He said the Islamic Republic would announce its decision "in the next few days." Iran missed a Friday deadline set by the IAEA chief Mohamed ElBaradei for giving a reply to the proposal he hammered out in consultations with Iran, Russia, France and the United States in Vienna last week.

Prominent lawmakers have said since then that Iran should not send out any of its LEU reserve, suggesting it was a strategic asset Tehran could not afford to relinquish while facing Western pressure to shelve enrichment entirely.

But some officials have privately suggested Iran in the end is likely to accept the deal, although it remained unclear how much LEU Tehran would agree to shift abroad, and when.

One Tehran analyst, who declined to be named, said the outcry over the draft would allow Iran to present its eventual acceptance as a major concession in the hope this would deflate pressure on it to shelve enrichment, a step it rules out.

The draft pact calls for Iran to transfer some 80 percent of its known 1.5 tonnes of LEU to Russia for further enrichment by the end of this year, then to France for conversion into fuel plates. These would be returned to Tehran to fuel a research reactor that produces radio-isotopes for cancer treatment.

The U.S. role would be upgrading the reactor's safety and instrumentation, Iran's envoy to the U.N. watchdog said.

For the powers, the deal's value lies in cutting the quantity of Iran's LEU needed to fuel a bomb, if it were highly enriched. If 80 percent were removed, Iran would need about a year to replenish it at its current rate of enrichment.

Boroujerdi told Iran's Arabic language television that LEU should be sent out only "gradually" in several smaller batches, with guarantees, to protect against chicanery by Western powers he said had violated nuclear supply deals in the past.

Iran is years away from having any civilian nuclear power plants to run with LEU it is rapidly amassing, raising Western suspicions about the underlying goal of its enrichment campaign.

Western power diplomats say Iran was forced into revealing its second enrichment site near Qom to the IAEA a month ago because their intelligence agencies had already detected it.

The inspectors aimed to compare engineering designs to be furnished by Iran with the actual look of the facility, interview scientists and other employees, and take soil samples to check for evidence of illicit military nuclear activity.

(Additional reporting by Parisa Hafezi and Hashem Kalantari in Tehran; writing by Mark Heinrich; Editing by Samia Nakhoul) 538976288 "

[Popeye82]

Banks agree to new reporting code - Reuters, LONDON - 26 OCT 2009 14:21 GMT

- LONDON (Reuters) - Banks, accused of being too opaque and complex in the run-up to the financial crisis, said on Monday they plan to simplify financial reporting and make it easier for investors to compare their performance. -
http://uk.reuters.com/article/idUKTRE59P1N920091026

[Popeye82]

Iraqis mourn, blame politics for Baghdad blasts - Reuters, BAGHDAD - 26 OCT 2009 14:46 GMT

- By Muhanad Mohammed &Ahmed Rasheed -

- BAGHDAD (Reuters) - The Iraqi government blamed the bloodiest bombings in years on al Qaeda and other extremists, but many ordinary Iraqis think political infighting before next year's election is the cause and fear worse is yet to come. -
http://af.reuters.com/article/worldNews/idAFTRE59O09D2009102…

[Popeye82]

Wavefront Technology Solutions Inc.: Eastern Alberta Powerwave Update Incremental Oil Production Reaches 168 Per Cent at Two-Year Mark - Oct 26, 2009
www.marketwire.com/press-release/Wavefront-Technology-Soluti…

[Popeye82]

Freewest and Noront Commence Drilling of Prospective Airborne Geophysical Anomaly on Their Joint-Ventured McFaulds Property, Northern Ontario - Oct 26, 2009
www.marketwire.com/press-release/Freewest-Resources-Canada-I…

[Popeye82]

Incremental Cost, Measurable Savings - GreenBiz - Oct 21, 2009

- By Dana L. Bourland -
www.greenbiz.com/sites/default/files/incremental_costs_full_…

[Popeye82]

Large Brazilian Companies Begin Reporting Emissions - GreenBiz, SAO PAULO - Oct 22, 2009
www.greenbiz.com/news/2009/10/22/large-brazilian-companies-b…

"Sao Paulo, Brazil — Twenty-seven Brazilian corporations voluntarily reported their greenhouse gas emissions publicly earlier this month as part of Brazil's GHG Protocol Program.

The project from the World Resources Institute formally launched last year, with positive signs the uptick in the coming year will be strong when more than 100 companies are expected to receive the training.

The 27 companies to report their emissions in Brazil for the first time include big-name brands, such as Walmart Brasil, Ford, Alcoa, Petrobras and Banco do Brasil. Together they account for roughly 20 percent of the country’s energy and industrial emissions.

“The ability of developing countries to measure and verify GHG information is a major concern in international climate change talks and on Capitol Hill,” Taryn Fransen, a senior associate with WRI’s GHG Protocol Initiative, said in a statement last week. “While Brazil’s inventory program is voluntary, it shows the industrialized world that companies in developing countries, such as Brazil, are serious about measuring and reporting their emissions, and our GHG Protocol programs are helping to build this capacity.”

Brazil’s emissions rank fifth in the world, and growing: Its economy’s carbon intensity expanded 17 percent between 1990 and 2002.

The GHG Protocol, on which Brazil’s accounting system is based, is a widely used global standard used by businesses and governments. It was developed by the World Resources Institute and the World Business Council for Sustainable Development.

Smokestacks - http://www.flickr.com/photos/jakemohan/ / CC BY 2.0 "

[Popeye82]

California, Massachusetts Top State Energy Efficiency Scorecard - GreenBiz, WASHINGTON - Oct 21, 2009
www.greenbiz.com/news/2009/10/21/california-massachusetts-to…

[Popeye82]

Duluth Metals Expands Nokomis Resource to 550 Million Indicated Tonnes and 274 Million Inferred Tonnes - Oct 26, 2009
www.duluthmetals.com/s/NewsReleases.asp?ReportID=368980&_Typ…

[Popeye82]

"Der Handel mit Öl an den Terminmärkten
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Liebe Leser,

nachdem wir uns in der vergangenen Woche eingehend mit der Geschichte des Erdöls, seiner Nutzung, der Historie der Erdölförderung, sowie der Entstehung und der Entwicklung der OPEC beschäftigt haben, möchte ich mich heute im dritten Teil der Daily Reihe Investieren in Öl" zunächst mit dem Handel des weltweit wichtigsten Energierohstoffs beschäftigen.

Grundsätzlich muss an dieser Stelle zwischen dem Rohöl-Handel an den Terminmarktbörsen und dem realen" Handel unterschieden werden.


Rohölhandel an den Terminmarktbörsen

Zunächst noch einmal ein kurzer Rückblick: Wie erinnern uns, bis in die 70er Jahre hinein waren die Ölpreise relativ stabil, da sie durch die Listenpreise der großen Ölgesellschaften kontrolliert wurden. Doch dann setzten sich die OPEC-Mitglieder zu Wehr, mit dem Resultat der zwei so genannten Ölkrisen", also kurze Zeiträume in denen die Ölpreise einen massiven Preisanstieg erfuhren.

Um der Ungewissheit starker Preisschwankungen zu entgehen, wurden schließlich in den 80er Jahren die Erdölbörsen gegründet nach dem Vorbild der Terminmarktstruktur, wie sie schon seit langer Zeit beim Handel mit Agrarrohstoffen üblich war (CBOT).

Im Jahr 1980 wurde in London die International Petroleum Exchange"(IPE) gegründet und im selben Jahr der erste Futures Kontrakt auf Gasöl lanciert.

Im Juni 1988 erfolgte dann die Emission der ersten Brent Crude Futures Kontrakte an der IPE.

Heute spielt sich der Erdölhandel an den Terminmarktbörsen hauptsächlich in zwei großen Handelszentren ab:

1) An der New York Mercantile Exchange (NYMEX) wo Futures-Kontrakte auf WTI- Crude gehandelt werden und

2) An der im Jahre 2005 aus der IPE entstandenen ICE Futures Exchange in London, wo nach wie vor Brent Crude Futures Kontrakte gehandelt werden.


Die Preisentwicklung dieser beiden Rohölsorten gilt als Benchmark für die Ölpreisentwicklung der unzähligen anderen weltweit geförderten Rohölsorten.


Futures-Börsen

Wie gesagt unterliegt der Rohölhandel an den Börsen der Terminmarktstruktur. Abgesehen davon, dass die ICE inzwischen eine elektronische Handelsplattform ist-an der NYMEX erfolgt noch der Ringhandel-werden an diesen Handelsplätzen keine realen Ölfässer über die Theke gereicht. Obwohl natürlich der Futures-Handel impliziert, dass die Ware zu einem fest gesetzten Termin in der Zukunft angeliefert wird, wird an diesen Börsen kaum Gebrauch davon gemacht. Dennoch gibt es natürlich Orte an denen die Lagerbestandsdaten fest gesetzt werden. Für die NYMEX ist der wichtigste Standort in diesem Zusammenhang der Pipeline-Knotenpunkt Cushing im US-Bundesstaat Oklahoma. Cushing verbindet die Golfküste mit den Konsumenten der nördlichen US-Bundesstaaten und ist damit ein wichtiger Indikator für die Preisbildung von WTI an der NYMEX.


Die Marktteilnehmer

Seit der Einführung des Erdölhandels an den Terminmarktbörsen haben sich die Preisrisiken der Händler stark verringert.

Nun mag man sich trotzdem die Frage stellen, welche Marktteilnehmer, denn ein Interesse am Handel mit Erdöl an einer Terminmarktbörse haben und warum!

Grundsätzlich lassen sich die Marktteilnehmer am Erdölhandel an den Terminbörsen grob in zwei Kategorien unterteilen:


Die Hedger

Hedging bezeichnet nichts anderes als eine Absicherungsstrategie. Grundsätzlich bieten die Terminmarktstrukturen eine Möglichkeit der Absicherung gegen zukünftige Preisschwankungen beim Handel mit der tatsächlichen, physischen Ware. Ein Interesse an einer solchen Absicherungsstrategie haben also in erster Linie all diejenigen Marktteilnehmer, welche im Voraus große Mengen an Erdöl oder Erdölprodukten kaufen oder verkaufen müssen und damit enormen Preisschwankungen unterliegen. Diese Hedger sind im konkreten Fall Ölhändler, Erdölproduzenten und Raffinerien, aber auch Großverbraucher wie Fluggesellschaften. Die Hedger sind in der Regel-anders als die Spekulanten-nicht auf den hohen, schnellen Gewinn aus, sondern lediglich bestrebt ihre Risiken zu minimieren indem sie ihre Position im physischen Markt ausgleichen.


Die Spekulanten

Die Mehrheit der Marktteilnehmer am Erdölfutureshandel sind aber die Spekulanten. Sie sind im Gegensatz zu den Hedgern auf die schnellen kurzfristigen Gewinne ausgerichtet. Damit bringen sie ein wesentliches mehr an Liquidität in den Markt und übernehmen dabei gerade die Risiken stärker, welche die Hedger zu minimieren versuchen. Die Spekulanten handeln gemäß ihrer Einschätzung des Marktes mit dem Ziel hohe Gewinne zu erzielen. Hierzu zählen sowohl private Anleger, als auch zum Beispiel große Fondsgesellschaften.


Der Faktor Marktpsychologie und die Spekulanten

Gerade die Spekulanten, die zwar die Mehrheit der Marktteilnehmer bilden, aber im Vergleich zu den Hedgern oftmals weniger Kenntnis von den tatsächlichen Rahmenbedingungen und den fundamentalen Fakten des Erdölmarktes mit sich bringen, geben damit dem psychologischen Faktor im Markt einen wesentlich stärkeren Raum. Oftmals spiegelt daher die Preisentwicklung nicht (nur) das tatsächliche Nachfrage-und Angebotsverhältnis wieder, sondern viel eher Vermutungen über zukünftige Entwicklungen. Hier schlagen sich ebenso politische Unruhen, wie saisonal bedingte, wetterabhängige Veränderungen im Preis nieder, unabhängig davon ob tatsächlich die Angebotssituation betroffen ist. Anschläge militanter Gruppierungen in Nigeria führen aufgrund dieses Faktors meist ebenso zu steigenden Preisen, wie ein besonders kalter europäischer Winter oder der Beginn der Summer Driving Season" in den USA. Ebenso führen Spekulationen auf einen eher milderen Winter und damit einen geringeren Heizölverbrauch bereits im Vorfeld oft zu fallenden Preisen. Schließlich werden natürlich auch Lagerbestandsveränderungen und aktuell immer stärker die Entwicklung des US-Dollars mit eingepreist.


Ölhandel im Spotmarkt
von Miriam Kraus


Neben dem Handel mit Öl an den Futuresbörsen besteht natürlich auch weltweit ein realer" Handel mit der physischen Ware.

Zwar wird ein großer Teil des Ölhandels über langfristige Lieferverträge abgewickelt, dennoch besteht immer auch eine Nachfrage danach Rohöl kurzfristig zu kaufen oder zu verkaufen. Sei es weil kurzfristig die physische Ware benötigt wird, sei es aufgrund einer bestimmten Nachfrageentwicklung oder um Preisveränderungen auszunutzen.


Handel im Spotmarkt- die Ölhäfen

Hierbei wird der physische Rohstoff direkt, meist innerhalb von zwei Wochen, on the spot" verschoben. Dieser Spotmarkthandel erfolgt nicht an den Börsen, sondern an den großen Umschlagplätzen für Rohöl weltweit, an den Ölhäfen. Hier kann die Ware direkt ab-und antransportiert werden.

Die wichtigsten Ölhäfen weltweit befinden sich in New York, Houston/Texas, Rotterdam, Singapur und im Persischen Golf. Zukünftig mehr Beachtung werden sicher auch die großen Häfen Chinas finden, wie der Hafen von Dalian.

Diese Handelsplattformen sind ebenfalls elektronisch zugänglich, so dass Geschäfte von überall auf der Welt aus abgeschlossen werden können.

Die Spotpreisentwicklung, welche sich aus dem direkten Handel zwischen dem Käufer und dem Verkäufer generiert, ist aber eng mit dem Handel an den Futuresbörsen verknüpft. Marktbeobachter verfolgen hierbei weltweit die Preisentwicklung durch die getätigten Geschäfte an den diversen Ölhäfen und geben die neuen Informationen laufend an die Händler an den Futuresbörsen weiter.

Allerdings kommen beim physischen Handel an den Ölhäfen noch Kosten hinzu, wie Transport-und Lagerkosten. Die Transportkosten von der Förderregion bis zum Hafen trägt der Verkäufer, man nennt diesen Preis fob free on board". Alle weiteren Transport-und Lagerkosten trägt dann schließlich der Käufer.

So long liebe Leser...so viel zum Handel mit Öl für heute...morgen geht's weiter mit Angebot und Nachfrage, sowie der Unterscheidung verschiedener Rohölsorten.....einen schönen Abend wünsche ich Ihnen und bis morgen

Ihre Miriam Kraus "

[Popeye82]

Inter-Citic Closes $5 Million Private Placement Financing - Oct 26, 2009
http://marketwire.com/mw/search.do

[Popeye82]

DFI Expands Marine Operations to Include Other Mineral Deposits
On 2:16 pm EDT, Monday October 26, 2009
http://finance.yahoo.com/news/DFI-Expands-Marine-Operations-…

[Popeye82]

Apella Resources Inc.: Diamond Drilling Commences Iron-T Iron-Vanadium-Titanium Project
On 1:56 pm EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Apella-Resources-Inc-Diamond-i…

[Popeye82]

Stingray and Mercator Sign Arrangement Agreement
On 11:59 am EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Stingray-and-Mercator-Sign-iw-…

[Popeye82]

Andina Initiates Exploration on Acquired Barrick Property and 2009/2010 Field Season; Files NI 43-101 Report for 2009 Resource Update - Oct 26, 2009
www.marketwire.com/press-release/Andina-Minerals-Inc-TSX-VEN…

[Popeye82]

Africa heading for 2009 growth due to China-expert - Reuters, GENEVA - Mon Oct 26, 2009

- By Jonathan Lynn -

- + Africa, bar South Africa, to grow this year

+ Growth based on Chinese commodity and energy demand

+ China faces investment, trade protectionism elsewhere -
www.reuters.com/article/marketsNews/idAFLQ42332020091026?rpc…

"GENEVA, Oct 26 (Reuters) - All African economies bar South Africa will grow this year because of China's demand for their raw materials, a leading South African analyst said on Monday.

Out of 53 African states only the continent's biggest economy, South Africa, will not grow this year, Martyn Davies, executive director of Stellenbosch University's Centre for Chinese Studies, told a conference.

"Chinese demand is underpinning African growth," he told the conference on China, organised by the International Centre for Trade and Sustainable Development (ICTSD).

Africa is already exporting 1 million barrels per day of oil to China, accounting for 25 percent of China's foreign energy supplies, said Davies, who is also chief executive of emerging market investment strategist Frontier Advisory.

These links are based on strong support by African leaders for Chinese investment in extractive industries -- in contrast to objections raised to Chinese investment in sensitive sectors in developed countries, he said.

China's engagement in Africa -- where it is the biggest trading partner -- reflects both state enterprises benefiting from preferential capital from state banks, and private entrepreneurs, of whom around 1 million may now be in Africa, he said.

China's export prowess has so far failed to provoke much protectionism in Africa, except, again, in South Africa, where sensitive labour-intensive sectors such as textiles and light industry compete with Chinese firms.

Chinese imports from Africa come in at an average tariff of 0.64 percent -- almost the duty-free level sought by developing countries in rich markets -- because of China's eagerness to facilitate imports of African energy and commodities.

Conversely, China faces considerable protectionist sentiment outside Africa, said Simon Evenett co-director of St Gallen University's Centre for Economic Policy Research.

According to Global Trade Alert, a website run by academics that Evenett co-founded, China is now the most targeted country for trade measures such as anti-dumping duties and safeguards, a trend likely to increase as the global economy and international trade recover, Evenett told the conference.

"They can expect to be targeted even more. Now that world trade flows are increasing is perversely going to make it easier to demonstrate that Chinese imports are causing injury," he said. "

[Popeye82]

Mustang Expands the Maskwa Open Pit Resource to Exceed 56,000 Tonnes Contained Nickel
On 8:00 am EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Mustang-Expands-the-Maskwa-iw-…

[Popeye82]

Drill Hole 14B Intercepts 70.9 Meters (232.6 feet) of 10.7 g/T (0.311 oz/t) Gold, Including 38.7 Meters (126.9 feet) of 19.0 g/T (0.555 oz/t) Gold; 92.2 Meters (302.6 feet) to 203 Meters (666.0 feet) Assay Results Pending
On 5:52 am EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Drill-Hole-14B-Intercepts-709-…

[Popeye82]

Fortuna Silver Increases Indicated Resources at San Jose by 112% to 37.6 Million Ag Eq ounces
On 8:30 am EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Fortuna-Silver-Increases-prnew…

[Popeye82]

Entree Gold Receives Mongolian Mining Licences
On 8:00 am EDT, Monday October 26, 2009
http://finance.yahoo.com/news/Entree-Gold-Receives-prnews-13…

[Popeye82]

Pensions funds recouping some of 2008 losses - Reuters, PARIS - 26 OCT 2009 13:18 GMT

- PARIS (Reuters) - Pension funds tracked by the OECD recovered $1.5 trillion (918 billion pounds) in the first half of 2009 of the $5.4 trillion they lost in market value last year, the Organisation for Economic Co-operation and Development said on Monday. -
www.reuters.com/article/pensionsNews/idUSLNE59P00L20091026
www.oecd.org/dataoecd/30/40/43943964.pdf

"PARIS (Reuters) - Pension funds tracked by the OECD recovered $1.5 trillion (918 billion pounds) in the first half of 2009 of the $5.4 trillion they lost in market value last year, the Organisation for Economic Co-operation and Development said on Monday.

"The recovery in pension fund performance has continued through September 30, 2009, on the back of strong equity returns, but it will be some time before the 2008 losses are fully recouped," the Paris-based agency said.

Pension funds staged a partial recovery in the first half, generating investment returns of 3.5 percent in nominal terms, said the OECD, whose 30 members are mostly rich industrialised economies.

Best performing funds in the OECD area were, on average, in Norway and Turkey, with nominal returns of more than 10 percent, compared with nominal returns of 4 percent for funds in the United States, the report said.

Total pension funds assets still remained 14 percent below their December 2007 levels as of June 30, 2009, it said in a report called OECD Pensions Markets in Focus.

"Thanks to the stock market rally in emerging markets, some non-OECD countries have already largely made up their 2008 investment losses," the report said.

By the middle of the year, Chilean pension funds had largely made up their 2008 losses, while assets of Israeli pension funds were above their December 2007 level, the report said.

The market value of pension funds tracked by the OECD fell to $22.4 trillion by the end of 2008 from $27.8 trillion at the end of 2007.

Global share prices as measured by the MSCI All-Country World Index have risen close to 70 percent from a trough in early March.

For more on OECD report, click on: "

[Popeye82]

Reid says healthcare bill to include public option - Reuters, WASHINGTON - 27 OCT 2009 01:32 GMT

- WASHINGTON (Reuters) - U.S. Senate Democratic leader Harry Reid said on Monday the Senate's sweeping healthcare reform bill would include a government-run insurance plan that lets states opt out of participation if they choose. -
www.reuters.com/article/GCA-HealthcareReform/idUSTRE59P4L220…

[Popeye82]

Google Voice lets users keep phone number - Reuters, SAN FRANCISCO - 27 OCT 2009 05:01 GMT

- SAN FRANCISCO (Reuters) - Google Inc has introduced a new feature that will allow consumers to use its Google Voice service without switching to a special phone number, potentially broadening the appeal of the nascent, and controversial, service.

+ Google voice to bypass phone co voicemail

+ Google says users will be able to keep phone number -
www.reuters.com/article/rbssTechMediaTelecomNews/idUSN261983…

[Popeye82]

Obama - "I may be skinny but I'm tough" - Reuters, MIAMI - 27 OCT 2009 01:05 GMT

- By Steve Holland -

- MIAMI (Reuters) - President Barack Obama had a message for his political friends and foes on Monday -- "just because I'm skinny doesn't mean I'm not tough." -
www.reuters.com/article/newsOne/idUSTRE59Q05Z20091027

"MIAMI (Reuters) - President Barack Obama had a message for his political friends and foes on Monday -- "just because I'm skinny doesn't mean I'm not tough."

Obama was in Miami raising $1.5 million for Democratic congressional candidates for the 2010 elections, in which Democrats are seeking to hold onto their strong majorities in the House of Representatives and the Senate.

After weeks in which he has been angrily criticized by some on the right, to the point of creating a poster image of him with a Hitler mustache, Obama told a fund-raising event that some of his supporters have been expressing concern to him.

"I've tried to explain ... just because I'm skinny doesn't mean I'm not tough. I don't rattle. I'm not going to shrink back, because now is the time for us to continue to push and follow through on those things that we know have to be done but have not been done in decades," he said.

And he had tough words for those Republican critics who he says are not helping solve some of the problems that festered when they were in control of the White House and Congress.

"Lately I feel like somebody made a big mess and I've got my mop and I'm mopping the floor and the folks who made the mess are there (saying) 'you're not mopping fast enough. You're not mopping the right way. It's a socialist mop.'"

The president also used speeches at two Miami political events to contest the notion circulated by some political commentators and Republican critics that he has little show in the way of accomplishments during his nine months in office.

He reeled off a string of legislative achievements, starting with the $787 billion economic stimulus he credited with helping stop the bleeding in the U.S. economy. Republicans, on the other hand, contend the spending has done little to restrain the 9.8 percent U.S. jobless rate.

Among other items Obama listed: Lifting the Bush ban on using federal funds for stem cell research, signing legislation to ensure women gain equal pay as men for the same work, banning housing fraud, toughening credit card regulations and bringing the country close to a massive healthcare overhaul.

Abroad, Obama said he had put the United States on a path to getting U.S. troops out of Iraq and is working on a new strategy for Afghanistan.

"Here's my main message to you. We're just getting started," he said.

(Editing by Chris Wilson) "

[Popeye82]

Today's headlines - Point Carbon - Oct 27, 2009
www.pointcarbon.com

"Today's headlines

*Brazil should set multi-sector GHG target: senator
*Key senator to block Kerry-Boxer bill
*EUAs drift lower amid thin trade
*Mexico can cut 477 mt CO2 by 2030: World Bank
*Poland optimistic on extra EUAs
*Lawmakers agree on actions to cut emissions
*UK needs energy taxes to meet 2020 target
*Carbon market growth stalls in 2009
*Expectations low for US-China climate deal
*Singapore mulls post-2012 carbon trading
*China gets ‘lower risk’ climate profile: report
*CER issuance slumps in October
*Japan pledges $400m climate aid to Indonesia
*Kerry-Boxer to have 'modest' household impact: EPA
*Senators unveil allowance allocation plan in revised bill "

[Popeye82]

Microvision Lands Order For SHOWWX Laser Pico Projectors With World Leading Mobile Phone Operator - Oct 27, 2009
http://phx.corporate-ir.net/phoenix.zhtml?c=114723&p=irol-ne…

[Popeye82]

Honda nearly triples outlook - Reuters, TOKYO - 27 OCT 2009 08:01 GMT

- By Chang-Ran Kim, Asia autos correspondent -

- TOKYO (Reuters) - Honda Motor nearly tripled its annual profit forecasts and more upside may be ahead, with the company taking a conservative view on the yen and with the effect of easing government incentives unknown. -
www.reuters.com/article/ousivMolt/idUSTRE59Q0Y620091027

[Popeye82]

McDonald's to shut business in Iceland - Reuters, REYKJAVIK - 27 OCT 2009 05:33 GMT

- REYKJAVIK (Reuters) - McDonald's will shutter its business in Iceland because it is too expensive for the franchise to operate after the country's financial crisis. -
www.reuters.com/article/businessNews/idUSTRE59P50O20091026?f…

[Popeye82]

Reed Resources - signs significant agreement with Mineral Resources for Mount Marion Lithium Project start‐up in 2010 - Oct 27, 2009

HIGHLIGHTS

+ Reed Resources and Mineral Resources reach farm‐in agreement for development of Mount Marion Lithium Project in Western Australia’s goldfields region,

+ Mineral Resources to complete feasibility study with a view to build, own and operate processing facilities; fund all development costs and operate the project, to earn 40% of net profit from the operation with accumulated development and operational costs being repaid from future operations,

+ Reed to retain balance of net profit (60%) and the right to purchase all Spodumene produced,

+ On current timetable, Mineral Resources will mobilise processing plant and equipment to Nimbus site Q2 2010, with first product shipments expected in Q3 2010, and

+ Initial production rate is expected to be 17,000 tonnes per month of +6.5% Li2O concentrate.
http://stocknessmonster.com/news-item?S=RDR&E=ASX&N=465931

[Popeye82]

INDONESIA – Martabe resources increase - ASIA Miner - Oct 27, 2009
www.asiaminer.com/magazine/latest/indonesia-martabe-resource…

[Popeye82]

PAKISTAN – Study for Block VI - ASIA Miner - Oct 27, 2009
www.asiaminer.com/magazine/latest/pakistan-study-for-block-v…

"A bankable feasibility study (BFS) for Oracle Coalfields’ Block VI coal deposit in the Thar Coalfields of southern Pakistan is expected to be completed early in 2010.

The study for the 1.4 billion tonne deposit is the immediate target and will include an Environmental and Social Impact Assessment (ESIA), which is being prepared by Wardell Armstrong International (WAI). Additional international consultants have also been identified for the various technical studies needed for completion of the BFS, such as hydrogeology, geotechnical and mine design. All have indicated they are comfortable with the project and its location.

Oracle’s chairman Shahrukh Khan says, “The project has attracted the Pakistan Government’s considerable support because it sets out to address and resolve the country’s urgent need for new power generation facilities as current supply is not meeting demand.
“Karachi, an industrial hub of almost 15 million people, experiences up to 5-6 hours of load-shedding on a daily basis, and other major cities experience similar interruptions. As this leads to population discontent and industrial disruption and has a negative impact on the economy, it is of primary concern to the government. “The job creation potential of our project and its multiplier effect on the local economy are also important considerations for the population in the Tharparkar District where our potential coal mine will be located, many of whom live in relative poverty and have few income generating opportunities.”

WAI has already submitted a detailed scoping study to the company. This confirmed that the proposed open pit mining operation will require the dewatering of the two aquifers lying above the main coal seam in Block VI and this will have the valuable potential to provide water for the project as well as the local population.
Shakrukh Khan says Oracle has always intended that the planned mine-mouth power station would be owned and operated by a separate power generating company in which it might hold a stake, although its major investment would be in the coal mine.

“Oracle officials have met with two separate Pakistani companies involved in local power generation, each of which responded positively to plans for the Thar project and deemed them to have a sound technical base. However, these power companies obviously need the assurance of the BFS endorsing the capability of our coal mine, with independent verification of numbers, in order for them to advance their interest in the project.

“When completed, the BFS will envisage the development of our coal mine with first production, albeit small, in the latter half of 2011. This will depend on timely financing being achieved.”
The company also owns the Indus East coal project in Pakistan. A pre-feasibility study carried out by Dargo Associates confirmed an inferred resource for the area of 365 million tonnes.
www.oraclecoalfields.com "

[Popeye82]

Etching Out Organic Displays; Company will sell materials for making organic electronics using silicon manufacturing infrastructure - TR - Oct 27, 2009

- By Katherine Bourzac -
www.technologyreview.com/business/23806/?nlid=2462

[Popeye82]

Geodex Minerals Announces Sisson Brook 2009 Diamond Drill Program Results; Resource Estimate Update Underway, Expected in December - Oct 27, 2009
www.marketwire.com/press-release/Geodex-Minerals-Ltd-TSX-VEN…

[Popeye82]

Sustainable Energy Introduces PARALEX Solar Power System to North American Market; PARALEX first to deliver safety of extra low operating voltages for rooftop applications with world class conversion efficiencies - Oct 27, 2009
www.marketwire.com/press-release/Sustainable-Energy-Technolo…

[Popeye82]

Consol Sees Market Picking Up in Years Ahead - Mining Technology - 27 October 2009
www.mining-technology.com/news/news68093.html?WT.mc_id=DN_Ne…

"Next year could be a 'bridge year' for the US coal industry with the industry expecting 2011 to be the year mining profits pick up.

Speaking to miningweekly.com, Consol Energy CEO Brett Harvey said things should get better following the close of 2009.

“We think 2010 is a bridge year to, I think, a tightened market and a volume-constrained market based on the financial capabilities of our competitors, as well as the pressure from the federal government and the state governments, for a new environmental push at a much higher threshold,” Harvey said.

In the third quarter of 2009 Consol - the fourth largest coal producer in the US - experienced a year-on-year earnings drop due to reduced coal volumes.

Its approach to overcoming the difficult times has been to only match its output market.

“Our shareholders need to be aware that we are not going to mine this coal unless we have a place to put it - we are going to manage our inventories, we are not going to put ourselves in a distressed position,” Harvey said.

Consol lowered annual output levels twice in 2009 by a total of seven million tonnes to 58 million tonnes.

Reduced volumes, in turn, have increased pressure on costs, especially for the company's metallurgical coal, Harvey said.

In 2010, Consol will concentrate capital expenditure on projects already in progress that could help improve efficiency.

On the thermal coal front, US demand is expected to remain soft, given the high stockpile levels. "

[Popeye82]

Vale's Goro Nickel Plant Gets Ready for Production - Mining Technology - 27 October 2009
www.mining-technology.com/news/news68012.html?WT.mc_id=DN_Ne…

[Popeye82]

Cameroon Alumina Discovers Massive Bauxite Deposit - Mining Technology - 27 October 2009
www.mining-technology.com/news/news68013.html?WT.mc_id=DN_Ne…

"Cameroon Alumina has discovered 550 million tonnes of bauxite reserves at the Ngaoundal and Minim-Martap properties in the Adamawa region of Cameroon.

Cameroon Alumina is a joint venture between Dubai Aluminium Company and India’s Hindalco Industries, with each holding a 45% stake.

US-based Hydromine holds the remaining stake.

Cameroon Alumina co-chair Peter Briger told Reuters that the company has discovered at least 550 million tonnes of bauxite with indications that there may be an additional 200 million tonnes.

“The bauxite is first-class quality. It is not terribly deep in the ground,” he said.

Briger said the company hopes that mining operations at the site will annually yield 4.5 million to nine million tonnes of bauxite from late 2014.

“The geology and mining feasibility report is under finalisation and should be ready by 31 October,” Briger said.

“The real challenge is the logistics problem because the mining site is 860km from the port. The key, therefore, is to find an efficient and cost-effective way of bringing processed alumina to the port for export.”

Briger said the company is in talks with the government regarding the upgrade and expansion of railway links to the Kribi deep sea port from the mines.

Cameroon Alumina's general manager Eric Lavalou said the mine will cost about $5bn to construct with the company aiming for a mining licence from government by the end of 2009.

“Over all, the project is progressing well, within all stakeholders expectations,” Lavalou said.

“If all goes well according to our plan, the bankable feasibility study should be through in 2012 and make way for construction work to begin, which will last 40 months. We expect the first shipment of Cameroon alumina in five years”. "

[Popeye82]

Cameroon Eyes Money from Iron Ore Projects - Mining Technology - 27 October 2009
www.mining-technology.com/news/news68014.html?WT.mc_id=DN_Ne…

"Cameroon may receive $5bn through dividends, corporate taxes and royalties over 25 years thanks to sales by Sundance Resources, which drills for iron in the eastern part of the country.

Cameroon's partner with the Australia-based iron ore firm Cam Iron appealed for a permit from the Cameroon Government to commence drilling of iron ore, according to Dow Jones.

Sundance is the 100% owner of Cameroon Iron, which has a 90% stake in the Mbalam iron ore deposit - regarded as one of Africa's biggest deposits.

The appeal follows the completion of a feasibility study at Cam Iron on the $3.3bn Mbalam iron mining project.

According to the report, such revenues will be derived from royalties from the sale of iron ore products, and corporate and stakeholder income taxes.

Other revenue sources include dividends derived from the government's equity stake in Cam Iron, taxes paid by personnel and returns from the set up of a social and environmental sustainability fund.

Production may begin by 2012 and Sundance aspires to annually export about 35 million to 40 million tonnes of iron ore. "

[Popeye82]

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[Popeye82]

Pemex Moves to Broadly Adopt Powerwave; Wavefront and PEMEX Execute Letter of Intent for Multiple Field Programs - Oct 27, 2009
www.marketwire.com/press-release/Wavefront-Technology-Soluti…

[Popeye82]

Natcore Begins New Research Program at Ohio State University - Oct 27, 2009
www.marketwire.com/press-release/Natcore-Technology-Inc-TSX-…

[Popeye82]

EnWave to Test Animal Vaccines with Saskatchewan Research Council Using freezeREV Pharmaceutical Dehydration Technology - Oct 27, 2009
www.marketwire.com/press-release/Enwave-Corporation-TSX-VENT…

[Popeye82]

Strathmore Submits Roca Honda, New Mexico Uranium Mine Permit Application - Oct 27, 2009
www.marketwire.com/press-release/Strathmore-Minerals-Corp-TS…

[Popeye82]

First Bauxite Corporation Commissions Met-Chem to Conduct Full Feasibility Study of Bonasika Bauxite Project - Oct 27, 2009
www.marketwire.com/press-release/First-Bauxite-Corporation-T…

[Popeye82]

"Erdöl: Angebot und Nachfrage
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Liebe Leser,

heute in Teil 4 aus der Reihe Investieren in Öl" möchte ich mich dem weltweiten Angebots-und Nachfrageverhältnis von Erdöl zuwenden. Immer häufiger wurde (bevor die Finanzkrise zum vorherrschenden Thema wurde) in den Medien vom drohenden Ende der weltweiten Erdölvorräte berichtet, mit der Aussicht irgendwann einmal förmlich auf dem Trockenen zu sitzen. Was ist wirklich dran an dieser Aussage und noch wichtiger, wann tritt das mögliche Desaster ein?!


Die gegenwärtige Angebotssituation

Die bekannten Erdölreserven weltweit schätzt man gegenwärtig auf ca. 1,3 Billionen Barrel. Doch diese Einschätzung erfolgt unter Ausschluss der weltweit bekannten Reserven an Ölsand. Rechnet man den Ölsand allerdings hinzu, so ergibt sich eine Gesamtmenge von etwa 3,74 Billionen Barrel an bekannten Erdölreserven rund um den Globus.

Im Jahr 2008 lag die durchschnittliche weltweite Produktionsmenge bei 73,78 Millionen Barrel pro Tag. (Quelle: Energy Information Administration)

Diese Zahlen geben trotz allem nur bedingt Anlass zur Hoffnung. Eine einfache Rechnung zwingt den logischen Schluss auf, dass unter dem gegenwärtigen weltweiten Verbrauchslevel die bekannten Erdölreserven in 49 Jahren aufgebraucht sein müssten. Unter Einbeziehung der Ölsandreserven dauert es immerhin noch 142 Jahre.

Dies vereinfacht ausgedrückt, doch in die Rechnung müssen noch weitere Faktoren mit einbezogen werden. Denn diese Rechnung ignoriert völlig die Möglichkeit der Entdeckung neuer Ölfelder, ebenso wie das Vorhandensein von Ressourcen die zum gegenwärtigen Zeitpunkt entweder technisch nicht abbaubar sind oder wirtschaftlich unrentabel. Ebenfalls lässt das vereinfachte Rechenbeispiel die weltweit steigende Nachfrage, insbesondere durch die schnell wachsenden asiatischen Volkswirtschaften, hier vor allem China und damit einen steigenden Verbrauchsfaktor völlig außer Acht.


Künftig steigende Kosten der Ölproduktion sind vorprogrammiert

Allein die gegenwärtige Angebotssituation, aber vor allem im Hinblick auf die mit Sicherheit steigende Nachfrage (aktuell nur strategischer Lageraufbau in den Emerging Markets, insbes. China; aber von wieder wachsendem Verbrauch ist langfristig nach dem Ende der weltweiten Rezession wieder auszugehen) macht die Situation deutlich. Langsam aber sicher sind vor allem die Ölproduzenten immer stärker gefordert. Bestehende Ölfelder haben vielerorts bereits ihre Höchstfördermenge erreicht und überschritten.

Zeit sich woanders umzusehen. Und neue Lagerstätten werden nach wie vor entdeckt. Allerdings unter steigendem Investitionsaufwand. Doch nicht nur die Exploration wird immer kostspieliger. Auch die Erschließung und der Aufwand für die schlussendliche Förderung. Schließlich schießen aber auch die Verarbeitungskosten in die Höhe, da die neu entdeckten Reserven oft eine andere oder gar mindere Qualität aufweisen und damit andere, kostspieligere Raffinierungsprozesse erfordern.

Allein dies sind Indikatoren für steigende Rohölpreise, denn der Abbau weiterer Erdölreserven kann nur dann vonstatten gehen, wenn sich dieser auch für die Unternehmen lohnt.

Ein Beispiel ist die steigende Attraktivität der Ausbeute von Ölsandreserven. Bei Förder-und Raffinierungskosten bei über 25 US-Dollar pro Barrel galt der Abbau dieser Reserven lange Zeit als uninteressant. Erst seit die Rohölpreise diese Marke durchbrachen und seither einen massiven Preisanstieg verfolgt haben, erinnerte man sich wieder der umfassenden Ölsandlagerstätten.

Ein weiteres Beispiel ist die zunehmende Faszination für die Tiefsee-Ölförderung in der Ölindustrie, wovon vor allem der auf diesem Gebiet technisch führende brasilianische Konzern Petrobras profitiert. Besonderes Interesse an dieser Technologie zeigen vor allem China und Indien.

Nur konstant hohe Rohölpreise garantieren folglich auch künftig die Erforschung und den Abbau weiterer Lagerstätten und verhindern, dass die Welt in 49 Jahren rohöltechnisch betrachtet auf dem Trockenen sitzt.


Peak-Oil-Theorien
von Miriam Kraus


Trotz allem sind natürlich die weltweiten Erdölreserven endlich und im Laufe der Zeit haben sich Viele Gedanken darüber gemacht, wann diese Reserven allesamt aufgebraucht sein werden.

Der wichtigste Indikator hierfür ist die Peak Oil" Theorie. Peak Oil bedeutet, dass die weltweiten Erdölvorräte irgendwann das Maximum ihrer möglichen Fördermenge erreicht haben werden und ab diesem Zeitpunkt (Peak- Höchstwert, Gipfel, Maximum) die Fördermenge rückläufig ist.

Die wichtigste dieser Theorien ist die Hubbert Peak Theorie aus dem Jahre 1956. Marion King Hubbert stellte dabei die These auf, dass für jedes geografische Gebiet, die Erdölproduktionsrate einer Glockenkurve folgt.


Peak Oil teilweise bereits überschritten

Tatsächlich haben inzwischen einige der weltweit größten Fördernationen ihr Fördermaximum schon längst erreicht.

Gemäß dem US Energieministerium gehören dazu neben den USA, Russland, Norwegen und Mexiko auch die OPEC -Mitglieder Venezuela, Algerien und Libyen.

Auch andere Fördernationen wie Großbritannien haben ihre Spitze längst überschritten.

Besonderes unangenehm ist dies für die USA, den zeitgleich weltweit größten Verbraucher von Erdöl. Aber auch die Nordseeförderung mit ihrem Referenzöl Brent Crude kommt langsam in die Klemme.

Der Internationalen Energie Agentur zufolge dürften die USA vom heutigen Stand aus und ohne, dass neue Vorkommen erschlossen werden in 11 Jahren keine nennenswerte Ölproduktion mehr aufweisen. Norwegen würde dem Bericht zufolge bereits in neun Jahren buchstäblich auf dem Trockenen sitzen und Russland in 18 Jahren.

Etwas weniger düster sieht es hingegen für die Ölscheichtümer aus. Der weltweit größte Erdölproduzent Saudi-Arabien sollte es noch ganze 75 Jahre aushalten und die Quellen der Vereinigten Arabischen Emirate noch ganze 110 Jahre sprudeln.

Kanada mit den weltweit größten Vorkommen an Ölsand kommt dann zukünftig noch eine wesentlich stärkere Bedeutung bei.

Gespannt darf man aber sicher auch auf China, den inzwischen weltweit zweitgrößten Erdölverbraucher sein. Zwar weist China, trotz seiner unglaublich hohen Bevölkerungsanzahl noch immer nur ein Drittel des US-Verbrauchs auf, doch dies dürfte sich mit steilem Wirtschaftswachstum und steigendem Wohlstand und Konsum bald ändern. China sucht bereits vor der eigenen Küste intensiv nach Öl, ebenso wie auf dem afrikanischen Kontinent.

Ebenfalls interessant dürften sich in diesem Zusammenhang künftig Länder wie z.B. das rohstoffreiche Kasachstan erweisen. Lange unbeachtet, haben nun große Erdölgesellschaften mit der Exploration von Gebieten am und im Aralsee begonnen.

Die Angst vor dem Ende der Erdölreserven ist sicher nicht ganz unbegründet, doch vor allem wohl eher geografisch beschränkt.

Viele große Erdölproduzenten müssen sich langfristig darauf einstellen künftig von den Exporteuren zu den Importnationen überzuwechseln. Doch dies bietet auch Raum. Raum für ein eventuelles Wiedererstarken der OPEC, Raum für Andere, wie Kanada und Kasachstan zu bedeutenden Förderern aufzusteigen, Raum für das Erfordernis der Exploration neuer Vorkommen und vor allem Raum für langfristig hohe Rohölpreise. Denn schließlich findet ja jede Rezession einmal ein Ende in einem neuen Boom!

So long liebe Leser...damit genug für heute...morgen geht's weiter in der Reihe...freuen Sie sich noch auf die Unterscheidung der verschiedenen Rohölsorten, Verwendungs-und Substitutionsmöglichkeiten, Investitionsmöglichkeiten und mehr...bis morgen

Ihre Miriam Kraus "

[Popeye82]

Freewest Resources Board of Directors Unanimously Recommends That Freewest Shareholders Reject Noront's Hostile Takeover Bid - Oct 27, 2009

+ Unanimous recommendation of Freewest Special Committee and Board of Directors

+ CIBC World Markets Inc. has provided an opinion that consideration in Noront offer is inadequate, from a financial point of view, to Freewest shareholders
www.marketwire.com/press-release/Freewest-Resources-Canada-I…

[Popeye82]

Iran wants big changes to nuclear deal with powers - Reuters, TEHERAN - 27 OCT 2009 15:37 GMT

- By Parisa Hafezi -

- TEHRAN (Reuters) - Iran wants major amendments within the framework of a U.N. nuclear fuel deal which it says it broadly accepts, a move that could unravel the plan and expose Tehran to the threat of harsher sanctions. -
http://news.yahoo.com/s/nm/20091027/ts_nm/us_iran_nuclear

"TEHRAN (Reuters) – Iran wants major amendments within the framework of a U.N. nuclear fuel deal which it broadly accepts, state media said, a move that could unravel the plan and expose Tehran to the threat of harsher sanctions.

The European Union's foreign policy chief said on Tuesday there was no need to rework the U.N. draft and he and France's foreign minister suggested Tehran would rekindle demands for tougher international sanctions if it tried to undo the plan.

Among the central planks of the plan opposed by Iran -- but requested by the West to cut the risk of an Iranian atom bomb -- was for it to send most of its low-enriched uranium reserve abroad for processing all in one go, state television said.

Iran says it is enriching uranium only for power plant fuel, not for nuclear warheads. But its history of nuclear secrecy and continued restrictions on U.N. inspections have raised Western suspicions Iran is latently pursuing nuclear weapons capability.

Citing an unnamed official, the Iranian state Arabic-language satellite television station al Alam said on Tuesday Iran would present its response to the proposed agreement within 48 hours, a week after a deadline set by its author, U.N. nuclear watchdog chief Mohamed ElBaradei.

Al Alam said Iran would "agree to the general framework of the draft proposal but will request some important amendments."

It did not elaborate on the changes Tehran would seek to the draft agreement ElBaradei hammered out in consultations with Iran, Russia, France and the United States in Vienna last week.

But senior lawmakers have said Iran should import foreign fuel rather than send abroad by the end of this year much of its own low-enriched uranium (LEU) stock -- a crucial strategic asset in talks with world powers -- as the proposal stipulates.

Iran's foreign minister said on Monday it may want to do both under the deal, hinting Tehran could ship out much less LEU than the amount big powers want to delay by at least a year the possibility of Iran "weaponizing" enrichment.

The draft pact calls for Iran to transfer around 75 percent of its known 1.5 tonnes of LEU to Russia for further enrichment by the end of this year, then to France for conversion into fuel plates. These would be returned to Tehran to power a research reactor that produces radio-isotopes for cancer treatment.


HIGH-LEVEL UNDERSTANDINGS IN GENEVA

Understandings on the fuel plan and U.N. monitoring of a newly-disclosed enrichment site under construction were forged at Geneva talks on October 1 between Iran and six world powers -- the United States, Russia, China, France, Germany and Britain.

A team of U.N. inspectors arrived in Iran early on Sunday to visit the new site 160 km south of Tehran. Western diplomats said Iran was forced to reveal the plant to the IAEA last month after learning that Western spy services had detected it.

Iran's pledges in Geneva won itself a reprieve from sanctions targeting its oil sector but Western powers stressed they would not wait indefinitely for Tehran to follow through.

They see the two deals as litmus tests of Iran's stated intent to use refined uranium only for civilian energy, and a basis for more ambitious negotiations on curbing enrichment by Tehran to resolve a standoff over its nuclear aspirations.

The parties tentatively agreed in Geneva to reconvene toward the end of October but the hold-up in the fuel proposal and the ongoing inspector trip seemed to rule out fresh talks this week.

"It's not a good sign ... it is a bad indication," French Foreign Minister Bernard Kouchner told reporters at an EU foreign ministers meeting in Luxembourg, referring to the latest, ambiguous Iranian statements.

"Time is running out for the Iranians... This (Middle East) region is inflammable. It's an explosive circle and I do not think that in such a context the Iranians can play for time. That is very dangerous," he said.

"If there is the necessity -- but we might not see it until the end of the year -- we would start work on new sanctions," Kouchner added.

Diplomats said the EU ministers had already asked the EU executive to look into further sanctions that could be imposed.

ElBaradei said Iran could not evade shifting most of its LEU abroad if it expected to allay mistrust.

"That's important, absolutely. Our objective is to reduce tension and create a climate of confidence. Removing this material would provide a year for negotiating in peace and quiet," he told the French weekly l'Express.

"This would allow the Iranians to show that they are speaking the truth, if this is the case, that they are indeed enriching uranium for peaceful purposes," he said.

Foreign Minister Manouchehr Mottaki said on Monday Iran would announce its decision on the pact in the next few days.

Alaeddin Boroujerdi, head of parliament's Foreign Affairs and National Security committee, said that if any LEU went abroad, it should be only in small, staggered batches.

That is a non-starter for Western and U.N. officials since there would be no net drawdown of Iran's LEU stockpile.

(Additional reporting by Hossein Jaseb, Hashem Kalanatari and Reza Derakhshi in Tehran, David Brunnstrom and Julien Toyer in Luxembourg; Writing by Mark Heinrich; editing by Myra MacDonald) "

[Popeye82]

French court fines Scientologists, allows operations - Reuters, PARIS - 27 OCT 2009 14:32 GMT

- By Thierry Leveque -

- PARIS (Reuters) - A Paris court Tuesday fined the French branch of the Church of Scientology a total of 600,000 euros (544,300 pounds) after finding it guilty of fraud but allowed the group to continue operating in France. -
www.reuters.com/article/topNews/idUSTRE59Q1HD20091027

[Popeye82]

Nachhaltiges Wirtschaften und Klimaschutz - Auszug aus dem Koalitionsvertrag - KlimAktiv - (26.10.2009)

- Der Koalitionsvertrag ist beschlossen, die 15 Minister sind bestellt. Die für Umwelt und Klima relevanten Punkte des Koalitionsvertrags sind nachfolgend auszugsweise abgedruckt: ... -
www.klimaktiv.de/article99_8980.html

[Popeye82]

EU: Weiter keine Einigung auf Klimaangebot an Entwicklungsländer - KlimAktiv, BRÜSSEL - (27.10.2009)

- Brüssel - In den Weltklimaverhandlungen macht die Europäische Union den Entwicklungsländern ungeachtet massiven Drucks weiter kein konkretes Finanzierungsangebot. Bei ihrem Gipfeltreffen an diesem Donnerstag und Freitag wollen sich die Staats- und Regierungschefs der 27 EU-Staaten lediglich auf die Formulierung einigen, dass bis 2020 der zusätzliche Bedarf in der Dritten Welt für Klimamaßnahmen auf jährlich gut 100 Milliarden Euro steigen dürfte. Das geht aus dem Entwurf für die Schlussfolgerungen hervor, der der Deutschen Presse-Agentur dpa vorliegt. -
www.klimaktiv.de/article101_8985.html

"Von den 100 Mrd Euro sollen global bis zur Hälfte aus öffentlichen Mitteln stammen. Die EU-Kommission hatte darüber hinaus vorgeschlagen, dass die EU bis zu 15 Milliarden Euro bereitstellen könnte. Eine Reihe von Regierungen, darunter Deutschland, ist jedoch dagegen, zu früh ein konkretes EU-Angebot auf den Tisch zu legen.

Die internationale Staatengemeinschaft soll sich im Dezember in Kopenhagen auf ein neues Weltklimaabkommen einigen. Der EU-Gipfel muss das Verhandlungsmandat für die amtierende schwedische EU- Ratspräsidentschaft beschließen. 2012 läuft das Kyoto-Protokoll, das derzeit den globalen Klimaschutz regelt, aus.

Als eine Art Anschubfinanzierung für internationale Klimaprojekte in den ersten drei Jahren nach 2012, so schätzt die EU, sind jährlich 5 bis 7 Milliarden Euro nötig. Die EU werde «ihren fairen Beitrag leisten».

Laut dem Entwurf will die EU außerdem erreichen, dass die Industriestaaten sich auf eine Reduzierung des Treibhausgas-Ausstoßes von «80 bis 95 Prozent» bis 2050 einigen. Insgesamt sollen die Emissionen im Vergleich zu 1990 um die Hälfte sinken.

Weiterhin offen in den Schlussfolgerungen ist eine Vereinbarung über die EU-interne Lastenteilung, was die globale Klimafinanzierung anbelangt. In dieser Frage waren in den Vorverhandlungen bereits die europäische Finanzminister kürzlich gescheitert. Die Staats- und Regierungschefs müssen sich jetzt mit dem Streitpunkt befassen. Osteuropäische Mitgliedstaaten und besonders Polen dringen darauf, weniger beitragen zu müssen. Deutschland will die Lastenteilung vor dem Abschluss des Kopenhagener-Gipfels geklärt haben. "

[Popeye82]

Neues Hintergrundpapier: Biolandbau hat die bessere Klimabilanz - KlimAktiv - (27.10.2009)

- Die Landwirtschaft geriet in letzter Zeit verstärkt ins Visier, ihren Beitrag zur Reduktion der Treibhausgasemissionen zu leisten. Denn Deutschland muss bis 2050 die Emissionen um mindestens 80 Prozent senken. Die Biolandwirtschaft könne dazu einen wesentlichen Beitrag leisten, so der Präsident von Bioland, Thomas Dosch, weil der Biolandbau eine bessere Klimabilanz vorzuweisen habe als der konventionelle Landbau. Dies zeige des neuen Hintergrundpapiers "Klimaschutz und Biolandbau in Deutschland", das jetzt veröffentlicht wurde. -
www.klimaktiv.de/article137_8983.html
www.bioland.de/fileadmin/bioland/file/wissen/Bioland_Klimapa…

[Popeye82]

Köhler fordert ökologische Steuerpolitik - KlimAktiv - (25.10.2009)

- Bundespräsident Horst Köhler hat eine Steuerpolitik mit stärkeren ökologischen Anreizen gefordert.Notwendig sei eine «ökologische industrielle Revolution», sagte Köhler bei der Verleihung des Deutschen Umweltpreises am Sonntag in Augsburg. Das Potenzial dafür sei in Deutschland vorhanden, es müsse so schnell wie möglich erschlossen werden. «Die klimafreundliche Zukunft ist machbar, Deutschland hat alle Voraussetzungen, sie für sich zu gewinnen», sagte der Bundespräsident bei dem Festakt vor 1200 geladenen Gästen. -
www.klimaktiv.de/article99_8973.html

[Popeye82]

EU takes ING back to its banking roots - Reuters, AMSTERDAM - 26 OCT 2009 16:54 GMT

- By Ben Berkowitz -

- AMSTERDAM (Reuters) - Dutch bancassurer ING will split in two, transforming itself into a smaller European lender in the most striking example yet of the deep changes that EU policymakers want to force on banks that received state aid. -
www.reuters.com/article/ousivMolt/idUSTRE59P0U020091026

[Popeye82]

Magna's Opel buy inches closer as Spain gives go-ahead - Brussels/ZARAGOZA - 26 OCT 2009 16:12 GMT

- By Foo Yun Chee &Feliciano Tisera -

- BRUSSELS/ZARAGOZA, Spain (Reuters) - Canada's Magna on Monday inched closer to clinching its Opel buy with approval from Spanish plant workers as the clock ticks down to a November 3 board meeting at which GM is set to decide on the deal. -
www.reuters.com/article/businessNews/idUSTRE59P2NC20091026

[Popeye82]

Perseus to raise A$58,5m for Ghana gold project - Mining Weekly, JOHANNESBURG - Oct 26, 2009

- Esmarie Swanepoel -
www.miningweekly.com/article/perseus-to-raise-a585m-for-ghan…

"JOHANNESBURG (miningweekly.com) – ASX-listed gold explorer Perseus Mining has initiated a A$58,5-milion capital raising, which would underpin the development of its flagship Ayanfuri gold project, in Ghana.

The raising would comprise two components, a placement of 15,6-million shares at A$1,50 a share to institutional investors in Australia, Asia and Europe, to raise A$23,4-million and a placement of 23,4-million subscription receipts at A$1,50 a receipt to investors in North America to raise A$35,1-million.

“Perseus is in the fortunate position of having two outstanding gold projects with excellent potential for growth and near-term production,” said MD Mark Calderwood.

“Ayanfuri remains one of the largest gold deposits being developed by an Australian company today. With the company well funded, the lead engineers soon to be appointed, government approvals under way, project financing discussions well advanced, and construction on track to start early next year, we are increasingly confident of becoming a significant gold producer within 20 months,” he added.

The issue of subscription receipts was subject to the completion of an agency agreement with the Canadian brokers, and a due diligence review, which was expected to be completed around November 5.

Thereafter, the proceeds from the issue of the subscription receipts will be held in escrow with the requirement that Perseus completes a listing on the TSX within 90 days.

The subscription receipts will be converted to ordinary shares in the company on a one-for-one basis upon TSX listing.

“The listing on the TSX will expand our international shareholder base and over time, is expected to increase trading volumes,” said Calderwood.

Besides advancing the Ayanfuri project to the construction phase, which was anticipated to be in early 2010, funds raised would also be earmarked to expand exploration activities within Ghana and Côte d'Ivoire, and for working capital purposes.

The company noted that it was pursuing an aggressing exploration programme to increase its existing seven-million ounce gold resource base with seven drill rigs now in operation at Ayanfuri and Tengrela. "

[Popeye82]

Debt constrains miners' growth – E&Y - Mining Weekly, TORONTO - Oct 26, 2009

- Liezel Hill -
www.miningweekly.com/article/debt-constrains-miners-growth-e…

"TORONTO (miningweekly) – Pressure on miners to reduce debt and the lower availability of new loan facilities will likely play a big role in curtailing future supplies of metals and minerals, Ernst & Young (E&Y) said in a report on Monday, titled 'Mining and Metals: The Wall of Debt'.

The study tracked the performance of a sample of the world’s largest listed mining and metals companies over almost three decades, and suggests that debt levels remain a “major concern” across the mining and metals sector owing to the dramatic levels of borrowing that occurred during the peak of the cycle in 2007/8.

“The sharp reduction of investment at all levels of the industry, from exploration through to expansions, has cost the global economy, according to some opinions, at least two years of capacity expansion in mining and metals production.”

The pipeline of new projects has been reduced “dramatically”, with new bank debt very difficult to obtain, and the corporate bond market essentially only open to companies with an acceptable credit rating, E&Y said.

“And even they are constrained by credit limits.”

Management correctly turned its attention to debt restructuring and the curtailment of operating costs and capital outlay last year, but the ability to finance the pipeline of new projects has been significantly reduced as a result, said E&Y mining and metals partner Lee Downham.

“Long-term fundamentals for metals and minerals demand remain robust, but supply is being curtailed and there is a real danger of a supply gap emerging in several metals and minerals.”

As a result, more innovative merger and acquisition structures will likely be needed for companies wanting to participate in corporate activity.

“This will be reflected in fewer contested transactions and a greater focus on synergies, rather than growth, to obtain market share.”

Companies with strong balance sheets and financing capacity will, however, be able to make “major strategic moves”.

Further, given the difficulty in raising new debt and the pressure to pay down existing borrowings, there will likely be a return to equity financing for both acquisitions and new project development.

“We will see a return to equity as the major source of growth funding, together with innovative transactions less reliant on debt funding,” said Downham.

"We also predict an increasing role for sovereign wealth and private capital and possibly even a return to IPOs and separate listings for individual mine projects.

“Innovative financings should develop, including sovereign wealth funds, State-owned enterprises (such as in China) and private capital.

“Full use will also be made of export credit facilities, equipment leasing, forward sales of products and, where appropriate, development agencies and development banks.”

Edited by: Liezel Hill "

[Popeye82]

China, the United States, and the Climate Change Challenge - WRI - Oct 21, 2009

- Deborah Seligsohn -
www.wri.org/stories/2009/10/china-united-states-and-climate-…
http://pdf.wri.org/china_united_states_climate_change_challe…

[Popeye82]

Today's headlines - Point Carbon - Oct 28, 2009
www.pointcarbon.com

"Today's headlines

*Senators raise concerns as climate bill hearings begin
*G77 should be disbanded: experts
*Carbon fails to find new direction
*UK reluctant on EUA price intervention
*Spain to finalise AAU-deal with Ukraine
*CER supply hit by UN staff shortages
*EC extends Bulgaria nuke compensation
*Wind and hydro continue to dominate China CDM
*Australian firm buys 1.4m CERs on US exchange
*UN spurs controversy over China wind power
*Japanese bank eyes CDM business in China
*Vattenfall fossil fuel production increases 3.3%
*Japan to publish climate bill early 2010
*Australia tipped for early CER demand
*UK to miss 2020 emissions goal: report "

[Popeye82]

Court told Karadzic wanted "ethnic cleansing" - Reuters, THE HAGUE - 27 OCT 2009 18:42 GMT

- By Reed Stevenson -

- THE HAGUE (Reuters) - Radovan Karadzic led a genocidal campaign to make Bosnian Muslims "disappear from the face of the earth" and carve out a mono-ethnic state for Bosnian Serbs, war crimes prosecutors told a U.N. tribunal Tuesday. -
http://uk.reuters.com/article/idUKLQ67864820091027

"THE HAGUE (Reuters) - Radovan Karadzic led a genocidal campaign to make Bosnian Muslims "disappear from the face of the earth" and carve out a mono-ethnic state for Bosnian Serbs, war crimes prosecutors told a U.N. tribunal Tuesday.

In opening statements, prosecutors painted a picture of the former Bosnian Serb leader as a supreme commander single-mindedly pursing a campaign of "ethnic cleansing" during the 1992-95 Bosnian war that killed an estimated 100,000 people.

They spoke to empty chairs on the defendant's side of the court as Karadzic, who denies all the charges, boycotted the trial at the International Criminal Tribunal for the former Yugoslavia for a second day.

"The Supreme Commander explained in October 1991 what was coming for Sarajevo: 'Sarajevo will be a black cauldron where Muslims will die. They will disappear, that people will disappear from the face of the earth'," senior prosecutor Alan Tieger cited Karadzic as saying in an intercepted call.

He was referring to the 43-month siege of Sarajevo that began in 1992 and killed an estimated 10,000 people as the former Yugoslavia was torn apart in the 1990s by Serbs, Croats and Muslims fighting for land.

"The supreme commander had directed his forces in a campaign to carve out a mono-ethnic state within his multi-ethnic country," Tieger said.

"This case, your honours, is about that supreme commander. A man who harnessed the forces of nationalism, hatred and fear to implement his vision of an ethnically separated Bosnia -- Radovan Karadzic."

In addition to maps, slides and intercepted phone calls, Tieger showed several videos of Serbian snipers shooting Sarejevo citizens, as well as others of Karadzic on the hills overlooking the city, observing and directing the siege.

He promised to provide witnesses and testimony during the trial showing Karadzic's active involvement in Sarejevo and other campaigns to wipe out minorities.

As prosecutors began their case Tuesday, Biljana Plavsic, Karadzic's successor as Bosnian Serb president, left a Swedish prison and arrived in Belgrade after winning early release from her sentence for committing war crimes.


BATTLE OF WILLS

Karadzic, 64, has denied all 11 war crimes charges against him, including two genocide charges for the massacre of 8,000 Muslim men and boys at Srebrenica and for broader atrocities.

Karadzic, a psychiatrist before becoming president of the self-proclaimed Republica Srpska, stepped down from power in 1996 and went into hiding until he was captured in July 2008, disguised as an alternative healer in Belgrade.

Karadzic had battled judges during pre-trial proceedings, seeking immunity and more time to prepare, which was denied as judges pressed forward with plans to begin the trial.

Karadzic is the court's highest profile defendant since the trial of ex-Yugoslav President Slobodan Milosevic, whose trial ended with his death in 2006. Milosevic also obstructed proceedings to buy time and gain concessions from the court.

Judge O-Gon Kwon warned Karadzic to appear in court or risk having counsel assigned to him and being tried in absentia.

"Should the accused persist in his refusal to attend the trial ... the trial will proceed in his absence, and counsel will be assigned," the South Korean judge said.

Following the end of opening remarks next Monday, a hearing will be held Tuesday to decide how to proceed if Karadzic continues his boycott. Options include trial in absentia, assigning counsel, seeking outside advice and adjourning to allow assigned legal counsel time to prepare.

"If we get enough time to prepare a proper defence, he will appear in court, definitely," said Marko Sladojevic, one of Karadzic's legal advisers, adding that Karadzic was following proceedings closely, working until 5 a.m. on the trial.

A mother who lost much of her family in Srebrenica condemned his absence.

"Today again the war criminal Karadzic did not appear at his trial," Nirmela Kolenovic said. "For me it means he is a coward and he has acted in a cowardly manner towards the Serbian people."

The complex trial is expected to last until at least 2012 and involve hundreds of witnesses. There are more than 1 million pages of prosecution documents.

(Additional reporting by Aaron Gray-Block; Editing by Michael Roddy) "

[Popeye82]

Split of Northern Rock expected in 2010 - Reuters, LONDON - 28 OCT 2009 06:05 GMT

- LONDON (Reuters) - The European Union will on Wednesday approve Britain's plan to break up failed bank Northern Rock, paving the way for a split in early 2010 and the eventual sale of parts of the bank, a source familiar with the situation said. -
http://abcnews.go.com/Business/wireStory?id=8930309

[Popeye82]

U.S. may end up discarding unused H1N1 vaccine - Reuters, WASHINGTON - 28 OCT 2009 04:46 GMT

- Maggie Fox -

- WASHINGTON (Reuters) - The U.S. government may end up throwing away unused doses of swine flu vaccine if people cannot get it soon enough, the director of the U.S. Centers for Disease Control and Prevention said on Tuesday. -
http://abcnews.go.com/Health/wireStory?id=8932595

[Popeye82]

BioteQ Forms Alliance to Target Power Projects in China - Oct 28, 2009
www.marketwire.com/press-release/Bioteq-Environmental-Techno…

[Popeye82]

Rockgate Diamond Drilling Starts on North Zone Falea Uranium-Silver-Copper Project, Mali, West Africa - Oct 28, 2009
www.marketwire.com/press-release/Rockgate-Capital-Corp-TSX-V…

[Popeye82]

CoAL Plans Production at Vele - Mining Technology - 28 October 2009
www.mining-technology.com/news/news68145.html?WT.mc_id=DN_Ne…

"Coal of Africa (CoAL) is planning to start production at its Vele coking coal project in South Africa in early 2010 if the government grants it a licence.

The company is expected to get mining rights for several of its South African projects by the end of the year.

The Vele coal project will produce up to one million tonnes of coal a year in the first phase and the output will be increased up to five million tonnes a year in its second phase.

CoAL managing director Simon Farrell told Reuters the company expects the granting of a new order mining right for its Vele coking coal project before the end of 2009 and that production is expected to follow within four months of legislative approval.

CoAL has increased its interest in Vele to 80% and is expected to take full ownership of the project after receiving its new mining rights. "

[Popeye82]

Thundelarra's Savannah Plant Processes Ore - Mining Technology - 28 October 2009
www.mining-technology.com/news/news68141.html?WT.mc_id=DN_Ne…

"Australian exploration company Thundelarra said nearly 12,000t of nickel sulphide ore from its Copernicus mine has been processed at Panoramic Resources' Savannah facility.

The ore is near surface material mined from the open pit in late 2008 and has been categorised as partly oxidised or transitional.

A complete reconciliation will not be finished until the end of the month.

The ore was estimated to grade 0.05% cobalt, 0.8% copper and 1.5% nickel based on mill sampling.

Nearly 60% nickel recovery was attained, which is regarded as satisfactory for this material.

The Copernicus nickel mine in Western Australia is a 40:60 joint venture between Thundelarra and Panoramic Resources. "

[Popeye82]

"China: Schnelles Maßnahmenpaket gegen die Krise
- Volkmar Michler -


Liebe Leserin, lieber Leser,

Weiter geht es im Profit Radar mit China. Ingesamt hat China gegenüber anderen Ländern einen gewaltigen Vorteil: China kann sich gegen die Krise stemmen, ohne sich dabei massiv verschulden zu müssen. Kaum ein Land verfügt über so gewaltige Finanzreserven wie China.

So schnell die Krise das verwöhnte Wirtschaftswunderland China eingeholt hat, so schnell und konsequent hat die chinesische Regierung gegengesteuert. Mit einem milliardenschweren umfangreichen Maßnahmenpaket, das China unabhängiger vom Export machen soll. Das kurzfristige Krisenmanagement hat funktioniert - das zeigen die Zahlen des IWF. Doch auch wenn der Abschwung für China ein Testfall war und China den Test weitestgehend bestanden hat, hat die chinesische Regierung eine Chance verpasst. Nämlich statt der Infrastruktur stärker den Konsum zu fördern.

China bricht nämlich auch in einem anderen Bereich Rekorde: Die Sparquote liegt derzeit bei über 50% des BIPs. Das ist die höchste Sparquote weltweit. Die Logik ist ganz einfach: Wenn sowohl die privaten als auch die öffentlichen Haushalte weniger sparen, erhöht sich der Verbrauch, wovon wiederum die Binnenwirtschaft profitiert. Weshalb ist die Sparquote so hoch? Ist es reines Angstsparen oder steckt etwas anderes dahinter?

Zunächst einmal könnte man mit Blick auf die USA anfügen, dass es besser ist, zu sparen als jahrelang über seine Verhältnisse zu leben. Robert J. Shiller, bekannter Professor für Wirtschaftswissenschaften an der Universität Yale sieht in das Sparverhalten in China jedoch als Bestandteil eines „Tugendkreises": Ein rasches wirtschaftliches Wachstum führt zu hohen Ersparnissen, die ihrerseits das rasche Wachstum stützen, da Spielraum für Investitionen bleibt. Jedoch sieht Shiller auch tiefer greifende Faktoren, die mit der Mentalität und den Erfahrungen der Chinesen zu tun haben.


Die neue Mittelschicht: Vom einfachen Beamten bis zum Ingenieur

Und damit ist es auch eine Generationsfrage. „Wenn die Einkommen wie derzeit in China rasch ansteigen, ist das Sparen einfacher, weil sich die Menschen noch nicht an einen höheren Lebensstandard gewöhnt haben. Es macht ihnen daher nicht allzu viel aus, einen niedrigen Lebensstandard noch etwas länger aufrecht zu erhalten."

Jedoch gibt auch hier eine Entwicklung, die in den nächsten Jahren zu einer immensen Dynamik führen wird. Denn: „Die Kinder und Jugendlichen von heute werden ihre eigene Lebensgeschichte nicht unter dem Gesichtspunkt der Schwierigkeiten betrachten, die China durchlebt hat", so Shiller. In der Tat sollte man nicht vergessen, von wo China kommt. Das brutale und blutrünstige Regime unter Mao Zedong ist noch gar nicht lange her. Die schrittweise Öffnung und Liberalisierung China wurde erst Anfang der 80er Jahre eingeleitet.

Dies ist genau die Generation, die in die zunehmende Mittelschicht hineinwächst. Die Schätzungen über die Größe der chinesischen Mittelschicht schwanken von 150 bis 380 Milllionen Menschen. Andrew Grant, China-Chef von McKinsey, schätzt, dass bis zum Jahr 2020 eine halbe Milliarde Chinesen zur Konsumentenklasse gehören werden. Zur Mittelschicht gehören einfache Beamte, Lehrer, Ärzte, Mitarbeiter großer Unternehmen, Ingenieure etc.

Schon jetzt zeigt sich, dass die Sparquote bei den Jüngeren deutlich geringer ist, sprich: diese mehr ausgeben können und wollen. Und wenn die chinesische Regierung diese Mittelschicht stärker als Motor für die Binnenkonjunktur begreift, könnte China schon bald wieder an die Zeiten des 2-stelligen Wachstums anknüpfen - mit der entsprechenden Sogwirkung für ausländische Volkswirtschaften. Mehr dazu erfahren Sie im Profit Radar von morgen.

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

Google steps into navigation market - GPS BN - Oct 28, 2009
www.gpsbusinessnews.com/Google-steps-into-navigation-market_…

[Popeye82]

"Erdöl: die größten Produzenten und Verbraucher
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Liebe Leser,

gestern bin ich, um viele lehrreiche Erfahrungen und besondere Eindrücke reicher, aus dem schönen Jordanien heimgekehrt. Natürlich werde ich - wie immer - einen kurzen Reisebericht verfassen, denn schließlich war ich natürlich nicht nur zur Entspannung zu Gast im haschemitischen Königreich. Diesen werde ich allerdings auf die kommende Woche verschieben, da es mir ein Anliegen ist, zunächst die begonnene Daily-Reihe zum Thema Erdöl zu beenden.

Für heute habe ich Ihnen einige Tabellen zur Übersicht über die größten Produzenten-, Verbrauchs-, Export- und Importnationen mitgebracht, sowie im zweiten Teil einen Beitrag über die Peak Oil Theorie und Hubberts Glockenkurve.


Übersicht über die größten produzierenden Nationen weltweit (2008):

Nation
Produktion in Mio. Barrel pro Tag (gerundet)

Saudi Arabien (OPEC-Mitglied)
10,78

Russland
9,79

USA
8,51

Iran (OPEC-Mitglied)
4,17

China
3,97

Kanada
3,35

Mexiko
3,18

Vereinigte Arabische Emirate (OPEC)
3,04

Kuwait (OPEC-Mitglied)
2,74

Venezuela (OPEC-Mitglied)
2,64

Norwegen
2,46

Brasilien
2,40

Irak (OPEC-Mitglied)
2,38

Algerien (OPEC-Mitglied)
2,18

Nigeria (OPEC-Mitglied)
2,17


Übersicht über die größten Verbraucher weltweit (2008)

Nation
Verbrauch in Mio. Barrel pro Tag (gerundet)

USA
19,5

China
7,85

Japan
4,78

Indien
2,94

Russland
2,90

Deutschland
2,57

Brasilien
2,52

Saudi-Arabien (OPEC)
2,3

Kanada
2,26

Süd-Korea
2,17

Mexiko
2,13

Frankreich
1,99

Iran (OPEC)
1,75

Großbritannien
1,71

Italien
1,64


Übersicht über die größten Exportnationen weltweit (2008)

Nation
Exportmenge in Mio. Barrel pro Tag (gerundet)

Saudi-Arabien (OPEC-Mitglied)
8,48

Russland
6,9

Vereinigte Arabische Emirate (OPEC)
2,58

Iran (OPEC)
2,419

Kuwait (OPEC-Mitglied)
2,416

Norwegen
2,24

Angola (OPEC)
1,95

Venezuela (OPEC)
1,883

Nigeria (OPEC-Mitglied)
1,883

Algerien (OPEC-Mitglied)
1,881

Irak (OPEC)
1,75

Libyen (OPEC-Mitglied)
1,6

Kasachstan
1,19

Kanada
1,09

Katar (OPEC)
1,08


Übersicht über die größten Importnationen weltweit (2008)

Nation
Nettoimportmenge in Mio. Barrel pro Tag (gerundet)

USA
10,98

Japan
4,65

China
3,87

Deutschland
2,42

Süd-Korea
2,14

Indien
2,05

Frankreich
1,91

Spanien
1,53

Italien
1,47

Taiwan
0,94

Niederlande
0,89

Singapur
0,88

Belgien
0,70

Türkei
0,62

Thailand
0,58


Ein Barrel entspricht 159 Liter.

Quellenangabe: Alle Tabellen repräsentieren die Datenerhebung des US-Energie-Ministeriums für das Jahr 2008.


Hubberts Glockenkurve
von Miriam Kraus

An dieser Stelle möchte ich mich noch einmal der Hubbert Peak Oil Theorie widmen, die ich bereits im Rahmen dieser Daily-Reihe erwähnt habe.

Marion King Hubbert war einer der herausragendsten Geophysiker des vergangenen Jahrhunderts und der Begründer der Peak Oil Theorie. Sie mögen sich erinnern, die Theorie geht davon aus, dass die Ausbeutung jeder Öllagerstätte auf diesem Planeten einer Glockenkurve folgt. Das heißt, die Produktion nimmt bis zu einem Punkt des Fördermaximums zu und dann schließlich wieder ab.

Auf Hubberts Ergebnissen bauen weitere nachfolgende Peak Oil Theorien, mit weiteren Datensätzen und Schaubildern auf.

Doch Hubberts Theorie gilt nach wie vor als Standardwerk. Bedeutsam ist, dass der ehemalige Chefgeologe bei Shell im Jahre 1956 das Fördermaximum der USA für das Jahr 1970 voraussagte und damit richtig lag. Dies obgleich Hubberts Theorie auch deutliche Lücken aufweist, da in keiner Weise Ölpreise mit in die Datenerhebung einbezogen werden, also auch keine landesspezifischen Aussagen über Fördermaxima gemacht werden können. Andere Analysten wie Laherre (Laherre plädiert beispielsweise dafür die OPEC-Staaten in der Golfregion nicht in das Hubbert Modell mit einzubeziehen, aufgrund der Quotenförderung) oder Ivanhoe versuchten seitdem Hubberts Modell aufzubessern, doch das Datum für das tatsächliche weltweite Ölfördermaximum steht noch immer buchstäblich in den Sternen, da eine fortschreitende technologische Entwicklung wiederum neue Möglichkeiten der Erforschung und des Abbaus neuer Lagerstätten mit sich bringt, die in keiner Weise voraussagbar waren oder sind.

Nichts desto trotz, haben bislang folgende große Fördernationen bereits ihr Ölfördermaximum (ihren Peak Oil) an konventionellen Ölreserven erreicht: USA,Russland, Mexiko, Großbritannien,Algerien, Libyen, Venezuela, und Norwegen

Hubberts Glockenkurve aus dem Jahre 1956 (Peak Oil Prognose für die USA):


Quelle: Nuclear Energy and the Fossil Fuels" von M.K. Hubbert aus dem Jahr 1956.

Trotz Hubberts Treffer für die USA, weiß dennoch gegenwärtig niemand mit absoluter Bestimmtheit zu sagen, wann uns tatsächlich die Erdölvorräte ausgehen. Zwar folgt die Produktion einzelner Lagerstätten deutlich der Glockenkurve und ist das Produktionsende für verschiedene konventionelle Ölreserven in greifbarer Nähe, doch das Erfordernis zu unkonventionellen Lagerstätten zu wechseln und die Anforderungen an die Technologie machen eines überdeutlich: Erdölförderung wird auch in weiter Zukunft immer teurer werden und dies ist nur möglich bei ebenfalls hohen Rohölpreisen.

So long liebe Leser...morgen geht's weiter mit der Unterscheidung verschiedener Rohölsorten..bis morgen und einen schönen Abend wünscht

Ihre Miriam Kraus "

[Popeye82]

DoE Announces Funding For 37 Clean Energy Projects - CleanTech Brief - October 28, 2009
http://cleantechbrief.com/node/1025

"U.S. Energy Secretary Chu this week announced the first $151 million in grant funding through the Advanced Research Projects Agency-Energy (ARPA-E).

Speaking at the headquarters of Google Inc. in Mountain View, California, Chu announced support for 37 projects that “span the spectrum” from renewable energy, to energy storage, to industrial and building efficiency, to petroleum-free vehicles and carbon capture.

The projects were selected from nearly 3,700 submissions. “We invited about 300 of those to put together full proposals,” said Chu. “Today, we are funding 37 projects – 1% of the submissions. To reach these decisions, more than 500 expert reviewers put in nearly 8,700 hours of work – or 4.2 person-years of effort.”

Projects include what Chu called “out-of-the-box” approaches, like symbiotic bacteria producing gasoline-like fuels from sunlight; an all-liquid metal battery; a building efficiency system using sensors and software; and a new way to capture carbon dioxide from power plants “inspired by the enzyme the human body uses to capture carbon dioxide generated by cells, transport it in the blood stream and exhale it through the lungs.”

Chu termed the ideas both “potentially revolutionary” and “risky” and admitted many would not pan out.

“But this is high-risk, high reward research: if even one or two of these ideas become transformative technologies the next transistor or another Green Revolution this will be among the best investments we’ve ever made.” "

[Popeye82]

Ascent Solar Technologies Achieves 14% CIGS Solar Cell Efficiency - CleanTech Brief - October 26, 2009
http://cleantechbrief.com/node/1013

[Popeye82]

Siemens Pays $418M for Solel Solar Systems - CleanTech Brief - October 26, 2009
http://cleantechbrief.com/node/1009

[Popeye82]

Baja Mining Provides Project Update
On 2:11 pm EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Baja-Mining-Provides-Project-i…

[Popeye82]

Fortress Intercepts 100.8 Metres Grading 2.58 g/t Gold Including 41.0 m Grading 5.57 g/t Gold at the Tamara Prospect in Channel-Cut Trench Samples, Svetloye Project Russia
On 12:00 pm EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Fortress-Intercepts-1008-iw-22…

[Popeye82]

Big Red Diamond and Virginia Energy Delineates Radioactive Zone in Bedrock, Otish Mountains, Quebec
On 9:24 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Big-Red-Diamond-and-Virginia-i…

[Popeye82]

Romarco announces major resource increase at Haile
On 9:19 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Romarco-announces-major-prnews…

[Popeye82]

Underworld Step-Out Holes Expand Golden Saddle Deposit, Including 1.46 g/t Au Over 158.5 Meters and 1.98 g/t Au Over 67.7 Meters
On 9:00 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Underworld-StepOut-Holes-iw-38…

[Popeye82]

Gold-Ore Reports Resource/Reserve Statement for Bjorkdal Gold Mine
On 9:00 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/GoldOre-Reports-iw-1526834417.…

[Popeye82]

Tiger Resources Limited - Kipoi Project - Development Update
On 8:37 am EDT, Wednesday October 28, 2009

Highlights

+ Appointment of leading engineering group to design, construct and commission the Kipoi Stage 1 treatment facilities.

+ Appointment of experienced consulting group to manage mining contractor tender process.

+ Appointment of qualified Mining Engineer as Project Manager.

+ Revised pit design work indicates potential to reduce pre-production mining period to 4 months and therefore reduce pre-production capital expenditure.
http://finance.yahoo.com/news/Tiger-Resources-Limited-Kipoi-…

[Popeye82]

Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi Copper-Gold Mining Complex in Mongolia
On 8:28 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Ivanhoe-Mines-Receives-US388-i…

[Popeye82]

Vista Announces Receipt of Temporary Occupation Permits for Paredones Amarillos Gold Project
On 7:00 am EDT, Wednesday October 28, 2009
http://finance.yahoo.com/news/Vista-Announces-Receipt-of-prn…

[Popeye82]

Global Gold Announces Government Measured and Indicated Reserve Approval of 1,145,000 Ounces of Gold for Toukhmanuk in Armenia
First Stage of Approval
On 4:47 pm EDT, Tuesday October 27, 2009
http://finance.yahoo.com/news/Global-Gold-Announces-iw-19292…

[Popeye82]

Sulliden Exploration Inc.: Shahuindo Gold Deposit Continues to Grow
On 4:17 pm EDT, Tuesday October 27, 2009
http://finance.yahoo.com/news/Sulliden-Exploration-Inc-iw-57…

[Popeye82]

Kivalliq Reports High-Grade Uranium Assays from Lac Cinquante Drilling - October 29, 2009
www.kivalliqenergy.com/news/index.php?&content_id=50

[Popeye82]

Timberline Expands Land Position at Its Butte Highlands Gold Project - Reuters, COEUR D'ALENE - Oct. 29, 2009
www.reuters.com/article/pressRelease/idUS148572+29-Oct-2009+…

[Popeye82]

Lithium - Hype or Sustance?; A look at Lithium Demand and Supply - Dundee Capital Markets - Oct 28, 2009
www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August…

[Popeye82]

Mantra Resources - Infill Drilling Delivers more Strong Results at Nyota - Oct 29, 2009

Highlights:

+ Infill drilling further confirms continuity of mineralised zones at the Nyota Prospect;

+ All mineralisation intersected at shallow depths; and

+ A record thickness in drilling to date with an intercept of 60 metres @ 788 ppm eU3O8 from surface.
http://stocknessmonster.com/news-item?S=MRU&E=ASX&N=466620

[Popeye82]

Online Shopping Making Inroads Into Automotive Industry; Capgemini survey also finds interest in green vehicles continues to rise - Research Recap - 29.10.09
www.researchrecap.com/index.php/2009/10/28/online-shopping-m…
www.us.capgemini.com/CarsOnline/

[Popeye82]

Today's headlines - Point Carbon - 29.10.09
www.pointcarbon.com

"Today's headlines

*Utilities weigh in on Kerry-Boxer bill
*EU carbon consolidates amid thin trade
*EU leaders ponder AAU banking, finance
*Natural gas producers want in on climate bill
*Chinese firms to reveal cement CO2 data
*IMO “best suited” for ship regulation: Maersk
*AAU banking will erode climate efforts
*Spain’s plan to subsidise coal “against Kyoto”: IEA
*Copenhagen must agree "political essentials": UN
*EU can cut GHGs 30% for free: study
*CCS heading in wrong direction
*EC sets emission standards for vans
*China could start trading scheme: NEF "

[Popeye82]

Jinchuan Purports to Terminate Purchase of Tiomin Kenya - MiningTopNews - Oct 28, 2009
www.miningtopnews.com/jinchuan-purports-to-terminate-purchas…

[Popeye82]

BioteQ Recognized for International Wastewater Treatment Solutions; Named to British Columbia's Top 25 Exporters - Oct 29, 2009
www.marketwire.com/press-release/Bioteq-Environmental-Techno…

[Popeye82]

Galleon paid banks millions for "edge" - Reuters, BOSTON - 29 OCT 2009 04:56 GMT

- BOSTON (Reuters) - Hedge fund firm Galleon Group, whose founder has been charged with insider trading, paid $250 million (152 million pounds)to its Wall Street banks last year and in return received market information that other investors did not get, the Financial Times reported. -
http://news.yahoo.com/s/nm/20091029/bs_nm/us_galleon_primerb…

[Popeye82]

U.N. rights expert deported from Zimbabwe - Reuters, HARARE - 29 OCT 2009 07:30 GMT

- HARARE (Reuters) - United Nations human rights expert Manfred Nowak was deported from Zimbabwe on Thursday after being detained by security officials on arrival overnight, a U.N. official said. -
www.thezimbabwean.co.uk/2009102926102/human-rights/un-rights…

[Popeye82]

Controversial couple dominates U.S. medical tourism - Reuters, NEW YORK - 28 OCT 2009 13:34 GMT

- By Brendan Borrell -

- NEW YORK (Reuters Health) - These are heady days for the medical tourism industry. With U.S. healthcare prices spiraling upward, more and more insurers and individuals are looking abroad for treatment. By some estimates, 650,000 Americans will check into foreign hospitals from Mexico to Thailand this year. -
www.reuters.com/article/healthNews/idUSTRE59R23V20091028

[Popeye82]

Google launches music search with Lala and iLike - Reuters, LOS ANGELES - 29 OCT 2009 06:07 GMT

- By Sue Zeidler -

- LOS ANGELES (Reuters) - Google Inc on Wednesday partnered with Web services Lala and MySpace's iLike to give music fans an easier way to find, sample and buy songs on the Internet, expanding its music industry footprint. -
www.reuters.com/article/technologyNews/idUSTRE59R5SF20091029…

[Popeye82]

Agassi revelations leave tennis in shock - Reuters, DOHA - 28 OCT 2009 23:37 GMT

- By Martyn Herman -

- DOHA (Reuters) - Eight-times grand slam winner Andre Agassi left the tennis world in a state of shock on Wednesday when he admitted using the recreational drug crystal meth and lying to men's governing body the ATP to escape a ban. -
http://uk.reuters.com/article/idUKTRE59Q5IQ20091028

"DOHA (Reuters) - Eight-times grand slam winner Andre Agassi left the tennis world in a state of shock on Wednesday when he admitted using the recreational drug crystal meth and lying to men's governing body the ATP to escape a ban.

In his autobiography "Open", the American candidly describes being introduced to the drug in 1997 and the moment when he was informed he had failed a drugs test.

International Tennis Federation (ITF) president Francesco Ricci Bitti said he was "surprised and disappointed" by the revelations and World Anti-Doping Agency (WADA) chief John Fahey called on the ATP to "shed light" on the circumstances that allowed Agassi to escape punishment.

In his book, Agassi, now 39, spoke of the moment he took crystal meths, a highly-addictive amphetamine, for the first time when his career was in freefall. He was helped by his drug-user assistant, known as Slim.

"Slim dumps a small pile of powder on the coffee table. He cuts it, snorts it. He cuts it again. I snort some. I ease back on the couch and consider the Rubicon I've crossed," he said.

"There is a moment of regret, followed by vast sadness. Then comes a tidal wave of euphoria that sweeps away every negative thought in my head. I've never felt so alive, so hopeful -- and I've never felt such energy."


REBELLIOUS STREAK

Agassi burst on to the scene in the late 1980s with a maverick streak, long hair and a wacky dress sense that made him an instant hit with a new generation of tennis fans.

He won Wimbledon in 1992, the U.S. Open in 1994 and the Australian Open in 1995.

However, wrist injuries and a loss of form sent his career on to the rocks in 1997 and his world ranking tumbled to 122.

A year later he began a new training regime that sparked an incredible turnaround. After a spell on the second-tier Challenger circuit he shot back up the rankings and in 1999 completed a career grand slam at the French Open.

Agassi, now married to former women's number one Steffi Graf with whom he has two children, ended 1999 atop the rankings after winning the U.S. Open again. He won three more Australian Open titles before a tearful retirement in 2006.

However, had tennis's doping programme been under the WADA code at the time there is little doubt his cover-up of his drug- taking would have failed and his career could have been ruined.

Agassi, in extracts from his book serialised in the Times, remembers receiving a phone call in 1997 from a doctor working for the ATP who informed him that he had failed a drugs test.

"My name, my career, everything is now on the line. Whatever I've achieved, whatever I've worked for, might soon mean nothing. Days later I sit with a legal pad in my lap and write a letter to the ATP. It's filled with lies interwoven with bits of truth," Agassi said.


AGASSI ASHAMED

He said the ATP threw out the case against him after he concocted a story that he had accidentally drunk a soda spiked with crystal meth belonging to Slim.

Agassi's admission that he took drugs casts a shadow over a player widely regarded as one of the greatest ever while it also exposes the ATP's lack of strict doping controls at the time.

"This is a very serious statement which, if reported accurately, is one that is disappointing coming from a role model such as Andre Agassi," Fahey said.

The ITF has been responsible for the ATP Tour's anti-doping programme since 2006 and the women's WTA Tour a year later.

"The ITF is surprised and disappointed by the remarks made by Andre Agassi in his biography admitting substance abuse in 1997," Ricci Bitti said in a statement.

"The events in question occurred before the World Anti-Doping Agency (WADA) was founded in 1999 and during the formative years of anti-doping in tennis when the programme was managed by individual governing bodies."

"The ITF, Grand Slams, ATP and WTA Tour are now unified in their efforts to keep tennis free of drugs. This should not be overshadowed by an incident that took place over 12 years ago."

Agassi said he was not worried about the impact of his revelations.

"I was worried for a moment, but not for long," he told People magazine's website.

"I wore my heart on my sleeve and my emotions were always written on my face. I was actually excited about telling the world the whole story."

(Additional reporting by Simon Evans in Miami

(Editing by Ed Osmond) "

[Popeye82]

Ormonde, Antofagasta Collaborate for Exploration in Southern Spain - Mining Technology - 29 October 2009
www.mining-technology.com/news/news68304.html?mxmroi=1370053…

"Ormonde Mining and Antofagasta have signed a joint venture agreement for exploration on Ormonde’s La Zarza ground holdings located in southern Spain's Huelva province.

Initial activity in the La Zarza joint venture will begin immediately and entails a combination of geophysical and geological surveys to improve target selection for a follow-up drilling programme slated for the New Year.

Junior mining company Ormonde’s managing director Kerr Anderson said there are several exploration targets at the La Zarza massive sulphide deposit with considerable potential for further copper mineralisation.

The key investment terms of the agreement include copper miner Antofagasta extending Ormonde's earlier exploration to cover the 3km-long La Zarza sulphide deposit, and to assess the deposit's potential for hosting bigger copper mineralisation resources.

Antofagasta is entitled to earn a 51% stake in La Zarza over a three-year time period by shelling out $7m on these extended exploration programmes and consequent assessment work, with a $1m minimum commitment in the initial year.

Provided the earn-in is complete, Antofagasta is then entitled to raise its stake in La Zarza to 75% by the conclusion of a feasibility study on a mining project that satisfies its investment requirements. "

[Popeye82]

Sub-Atlantic ROVs Help Clear Flooded Mine - Mining Technology - 29 October 2009
www.mining-technology.com/news/news68294.html?mxmroi=1370053…

"Two Sub-Atlantic remotely operated vehicles (ROVs) are being used to inspect and clear a flooded part of an undeveloped high-grade uranium mine located in Saskatchewan Province, northern Canada.

Cameco requested US-based Offshore Innovative Solutions to perform video inspections and sonar surveys using the ROVs in an area of the Cigar Lake mine, 420m below ground level, that had been inundated by water in August 2008.

A Sub-Atlantic Super Mohawk carried out initial survey work and identified the source of the inflow before the project increased to cover construction and demolition, which required the inclusion of a second ROV.

Offshore Innovative mobilised a Sub-Atlantic Mohican to function as a stand-by and second on-site ROV.

A remediation proposal was drafted to halt the inflow by erecting an inflatable grout bag to create a barrier.

The mine has now been cleared and the ROVs are finishing more than 600 dives carrying out inspection, dredging and demolition work in the high-risk, low-visibility environment. "

[Popeye82]

Wind Energy–Dramatic Technological Advancement - Struthers Resource Stock Report - 10/28/09
www.theenergyreport.com/cs/user/print/quote/3117?x-t=pub.vie…
www.awea.org/pubs/factsheets/EconomicsOfWind-Feb2005.pdf

" "When I last talked about the technology advancements with wind energy in my August 31 issue, it was quite simplistic and conservative when I compared wind turbines and the energy output had advanced, increasing 15 times (1,500%). It is actually a lot higher and there is a good article on the American Wind Association web site that gives all the facts and numbers at this link.

In the past 20 years, the cost of wind power has fallen approx. 90%.

Wind speed is important and is a big factor in the value of one wind farm project over another.

'The energy that can be tapped from the wind is proportional to the cube of the wind speed, so a slight increase in wind speed results in a large increase in electricity generation. Consider two sites, one with an average wind speed of 14 miles per hour (mph) and the other with average winds of 16 mph. All other things being equal, a wind turbine at the second site will generate nearly 50% more electricity than it would at the first location.'

The key element of technology advancement is the tower height (wind is stronger higher above ground level) and the windswept area of the turbine blades (larger turbines) - basic but important.

'The taller the turbine tower and the larger the area swept by the blades, the more powerful and productive the turbine. The swept area of a turbine rotor (a circle) is a function of the square of the blade length (the circle's radius). Therefore, a fivefold increase in rotor diameter (from 10 meters on a 25-kW turbine like those built in the 1980s to 50 meters on a 750-kW turbine common today) yields a 55-fold increase in yearly electricity output, partly because the swept area is 25 times larger and partly because the tower height has increased substantially, and wind speeds increase with distance from the ground.'

So you can see from this that the advancement is much greater than I talked about—an increase of 55 times or 5,500% from the 1980s to early 2000s."

Related Articles:
Erasing Excess
EXXI–Material Volume Upside Through Exploring
Wind Energy–Dramatic Technological Advancement "

[Popeye82]

Niger Delta Oil Fighting Ends - Energy &Capital - 10/28/2009

- Sam Hopkins -
www.theenergyreport.com/pub/na_u/1178

"A persistent threat to oil supplies and contributor to the risk premium that helped push oil prices up in recent years seems to be dissipating.

Fighting in Nigeria's oil-rich Niger Delta region has raged for years, as local militant group the Movement for the Emancipation of the Niger Delta (MEND) demanded greater control over local resources.

MEND conducted targeted bombing campaigns that attacked onshore and offshore oil infrastructure at its arteries—pipelines—and MEND warned away foreign oil companies that didn't meet the group's conditions for dealing with delta communities.

Most foreign firms deal with Nigerian oil industry captains nearer the country's main city, Lagos.

Now, President Umaru Yar'Adua is close to finalizing a permanent cease-fire and amnesty agreement for MEND and smaller groups whose fighters total around 8,000 men.

On Monday, October 26, MEND announced the truce from its side, and the move lightened fears that the Niger Delta would continue to fall short on potential output by 1 million barrels a day. That is the amount that was essentially held hostage by the fighters and in turn dented realized worldwide capacity.

Oil dipped below $80 a barrel on Monday as the cool-down in the Niger Delta made news."

[Popeye82]

China's Renewable Curbs a Boon to Big Players - Reuters - 10/29/2009

- Leonora Walet -
www.theenergyreport.com/pub/na_u/1176

[Popeye82]

Chinese Companies Upping Uranium Stakes - World Nuclear News - 10/29/2009
www.theenergyreport.com/pub/na_u/1177

[Popeye82]

Nuclear Key to Senate Climate Bill - Uranium Investing News - 10/27/2009

- Melissa Pistilli -
www.theenergyreport.com/pub/na_u/1168

"A three-day round of hearings over a companion bill to the cap-and-trade legislation passed in the House last May begins today in the Senate.

It seems the call for cap-and-trade climate change legislation could breathe new life into the U.S. nuclear industry as Democrats make concessions to Republicans to get the bill passed before President Obama heads to the UN Climate Change Conference in Copenhagen this December. It is this split along party lines that the nuclear industry stands to benefit from.

While speaking at MIT on Friday, President Obama urged the Senate to get the job done saying new energy and climate legislation is essential and should include "safe nuclear power" along with other renewable energies.

The House bill includes a cap-and-trade emissions reduction plan that mandates the use of renewable energy by utilities and allows polluters to buy and sell permits for emissions. It is expected to bring in billions of dollars and reduce carbon dioxide emissions 17% by 2020 and over 80% by 2050.

In a bipartisan move, Republican Senator Lindsey Graham (South Carolina) and Democrat Senator John Kerry penned an op-ed together in The New York Times. "Nuclear power needs to be a core component of electricity generation if we are to meet our emission reduction targets," said the two Senators.

Even the President went as far to say at a New Orleans town hall this month that there is "no reason" why the U.S. couldn't employ nuclear power in a safe manner like Japan and France.

Key Republicans that might sign onto the Senate bill if nuclear energy plays a more important role include Senators Lindsey Graham, Lisa Murkowski (Alaska) and John McCain (Arizona).

"The only way we get there. . .is if we really ramp up nuclear," said Senator Murkowski in a C-SPAN interview. "Nuclear power must be part of the solution." "

[Popeye82]

"Erdöl ist nicht gleich Erdöl
- Miriam Kraus -


Liebe Leserin, lieber Leser,

wenn in den Medien vom Ölpreis berichtet wird, ist der Bezug meist auf die Preisentwicklung der beiden bekanntesten Rohölsorten WTI und Brent Crude gerichtet. Bisweilen liest, wer sich näher mit der Thematik beschäftigt, auch einmal von der Entwicklung des OPEC-Korbpreises.

Schnell wird an dieser Stelle deutlich, dass die verschiedenen Rohölsorten unterschiedliche Preise aufweisen. WTI notiert meist zu einem teureren Level als Brent - von Ausnahmen abgesehen- und der OPEC-Korb ist immer noch billiger zu haben. Auch das russische Urals gehört zu den billigeren Sorten.

Der Grund für diese Preisunterschiede soll Gegenstand des heutigen Daily sein!


Erdöl ist nicht gleich Erdöl

Erdöl, ein Stoffgemisch hauptsächlich von Kohlenwasserstoffen, mit Kohlenstoff- und Wasserstoffatomen unterschiedlicher Ketten-Länge, bezeichnet einen Überbegriff verschiedenster Rohölsorten.

Tatsächlich gibt es weltweit Dutzende verschiedener Rohölsorten. Die Unterscheidung erfolgt grob gesprochen nach dem Ort der Lagerstätte, der Dichte, dem Schwefelgehalt und der Viskosität.

Aufgrund der Dichte wird zwischen leichten, Ölen mittlerer Dichte und schweren Rohölen unterschieden.

Aus leichten Rohölen lassen sich beispielsweise höhere Benzinanteile gewinnen, während schwere Rohöle einen höheren Anteil an schwerem Heizöl aufweisen.

Raffinerien trennen zudem nach dem Schwefelgehalt, in süße Rohöle, mit geringerem Schwefelgehalt und saure Rohöle mit höherem Schwefelgehalt.


Leicht und süß mögen es die Raffinerien

Der Gradmesser für die Qualität der einzelnen Rohölsorten sind die Dichte/Viskosität (also die Zähflüssigkeit des Rohöls; leichte Rohöle weisen eine geringere Viskosität auf, sind also fließfähiger) und der Schwefelgehalt. Je leichter und süßer ein Rohöl ist, desto höher ist die Qualität. Vor allem der Schwefelgehalt ist hier ein starker Indikator.

Der Grund dafür ist, dass die schwefelarmen Light Sweet Crudes" einfacher und günstiger in die benötigten Endprodukte konvertiert werden können.

Aus leichten, schwefelarmen Rohölen werden damit kostengünstiger und rascher Benzin- und Dieselkraftstoffe und Heizöle gewonnen.

Auf der anderen Seite sind manche Rohölsorten so schwer, dass heißt, sie weisen eine so hohe Dichte auf, dass aus ihnen fast nur Produkte wie Bitumen und Schmierstoffe gewonnen werden können.

Süße, leichte Rohölsorten sind dementsprechend die beliebtesten und zudem jene welche bislang am meisten verarbeitet wurden. Doch aufgrund der Überschreitung des Fördermaximums der meisten großen Lagerstätten der bevorzugten Rohöle, sind die Raffinerien weltweit immer stärker gefordert ihre Technologie auszuweiten. Doch noch immer sind manche Raffinerien nicht in der Lage schwerere Rohölsorten überhaupt zu verarbeiten - (dies gilt insbesondere für Raffinerien in der westlichen Hemisphäre, die lange Zeit hauptsächlich die süßen, leichten Rohölsorten verarbeitet haben).

Dies ist der Grund dafür, dass die qualitativ hochwertigeren, süßen, leichten Rohöle auch entsprechend teurer sind als andere Rohölsorten.


Lernen Sie verschiedene Rohölsorten zu unterscheiden!
von Miriam Kraus


West Texas Intermediate:

Das nordamerikanische und an der NYMEX gehandelte WTI ist das meistgehandelte Referenzöl. Es weist einen im Vergleich sehr niedrigen Schwefelgehalt und eine geringe Dichte auf und eignet sich vor allem für die Herstellung von Benzin. Es ist damit ein Light Sweet Crude" .


Brent Crude:

Das europäische Brent Crude repräsentiert 15 verschiedene Ölsorten, welche aus den Brent und Ninian Systemen im East Shetland Bassin in der Nordsee gewonnen werden. Es wird allgemein ebenfalls als leichtes, süßes Rohöl bezeichnet, weist allerdings eine etwas höhere Dichte und einen etwas höheren Schwefelgehalt als WTI auf, ist somit folglich eher ein Intermediate Sweet Crude" und eignet sich vor allem für die Herstellung von Diesel-Kraftstoffen und Heizöl. Brent Crude gilt darüber hinaus als Benchmark für andere europäische, afrikanische und arabische Öle.


Der OPEC-Korb:

Der OPEC-Korb ist eine Referenzmarke für die 12 wichtigsten Rohölsorten der OPEC-Mitglieder. Gegenwärtig umfasst er die Rohölsorten Saharan Blend (Algerien), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Irak), Kuwait Export (Kuwait), Es Sider (Libyen), Bonny Light (Nigeria), Qatar Marine (Katar), Arab Light (Saudi-Arabien), Murban (Vereinigte Arabische Emirate), Merrey (Venezuela) und Girassol (Angola). Durchschnittlich erreichen diese Rohölsorten eine mittlere Dichte und einen mittleren Schwefelgehalt, wobei allerdings zum Teil deutliche Unterschiede zwischen den einzelnen Sorten bestehen. Während das algerische Saharan Blend bespielsweise ein süßes, leichtes Rohöl mit geringer Dichte und niedrigem Schwefelgehalt ist, ist das Kuwait Export zwar ebenfalls ein leichtes Rohöl, weist allerdings einen deutlich höheren Schwefelgehalt auf. Das mittlerweile im Korb durch Merrey ersetzte venezuelanische BCF-17 dagegen ist ein sehr schwefelhaltiges Schwerstöl. Sie sind also qualitativ im Durchschnitt nicht ganz so hochwertig wie Brent oder gar WTI. Das ist der Grund für den Preisabschlag des OPEC-Korb-Durchschnittspreises gegenüber den anderen beiden Referenzölen.


Tapis:

Das in Malaysia geförderte Tapis ist das Referenzöl Asiens und wird an der Börse Singapur gehandelt. Tapis ist ein leichtes Rohöl, mit sehr geringem Schwefelgehalt, also ein teures Light Sweet Crude.


Dubai Fateh:

Das im mittleren Osten geförderte Dubai Fateh ist ein Referenzöl für die asiatisch-pazifische Region, wohin es auch hauptsächlich exportiert wird. Es weist eine mittlere Dichte und einen höheren Schwefelgehalt auf, ist also ein mittleres, saures Rohöl.


Urals:

Als Urals (oder REBCO)wird das russische Referenzöl bezeichnet. Urals ist im Grunde genommen ein Pipelinegemisch verschiedener in Russland geförderter Rohölsorten. Leichte Rohölsorten aus Ost-und Westsibirien (Siberian Light ist beispielsweise ein leichtes, süßes Rohöl mit einem Schwefelgehalt von 0,6% und einem API-Grad von 36,5) werden beim Transport mit den sauren Rohölsorten, mit hohem Schwefelgehalt aus dem Wolgaland und Baschkirien gemischt (die Republik Tatarstan beispielsweise produziert ein Rohöl mit einem API Grad von 26-28 und einem Schwefelgehalt von mehr als 3%). [Ein API-Grad von über 31,1 bezeichnet ein leichtes Rohöl, bei unter 22,3 Grad liegt ein schweres Rohöl; bei einem Schwefelgehalt von unter 1,3% spricht man von einem süßen Rohöl]. Auf diese Weise wird die Qualität des Öls auf einen Durchschnittswert gebracht. Alles in allem führt dies dazu, dass das schlussendliche Urals-Öl eine Rohölsorte eher mittlerer Qualität geworden ist, mit Schwefelgehalt von bis zu 1,8% und einem API-Grad von 31-32. Als überwiegend Saures, leichtes bis mittleres Rohöl notiert Urals bislang mit deutlichem Preisabschlag gegenüber Brent und WTI. Vor allem die russischen Ölkonzerne, welche ein schwefelärmeres Rohöl fördern, sind bestrebt die Einführung einer neuen leichten Rohölsorte zu forcieren. Diese könnte beispielsweise über die Ostsibirien-Pazifik-Pipeline qualitativ hochwertigeres, schwefelärmeres Rohöl nach China transportieren.

So long liebe Leser...sie sehen, noch gilt: je süßer und leichter desto teurer...doch im Angesicht schwindender Reserven an Light Sweet Crude- Sorten und dahingehend, dass neue Vorkommen vermehrt schweres, saures Rohöl beherbergen, muss man sich die Frage nicht nur nach den steigenden Preisen für süße Rohölsorten stellen, denn die Verarbeitung der sauren Rohölsorten kostet eben mehr Geld und ist damit nur bei hohen Preisen rentabel...nun, so viel für heute...am Montag geht es weiter mit dieser Reihe und morgen erwartet Sie wie gewohnt der Wochenrückblick an dieser Stelle...bis morgen

Ihre Miriam Kraus "

[Popeye82]

"Deutsche Autobauer mit Rekordergebnis in China
- Volkmar Michler -


Liebe Leserin, lieber Leser,

China wird trotz Krise schon bald wieder an die Zeiten 2-stelligen Wachstums anknüpfen. Darüber habe ich Sie im gestrigen Profit Radar informiert. Das zeigt sich zum Beispiel im weiter boomenden Automarkt in China.

Während fast überall Flaute herrscht und die deutschen Autobauer nach dem Ende der Abwrackprämie stöhnen, konnten sie in China deutliche Zuwächse erzielen. Audi konnte zum Beispiel allein im letzten Monat seinen Absatz um 37% auf über15.000 Fahrzeuge steigern. BMW legt um 32% zu und Mercedes-Benz 52%. Der Trend geht in China zur Limousine mit Chauffeur. Siehe da, der Staat schafft Kaufanreize, und es funktioniert.

Die Chinesen kaufen aber nicht nur im Innland, sondern verstärkt auch im Ausland. Jüngstes Beispiel: Die Chinesen haben jetzt einen Zulieferer von Boing aufgekauft. Das Besondere daran: Hier tritt der Staat als Investor auf, was westliche Regierungen zunehmend beunruhigt. China hat die Wirtschaftskrise geschickt genutzt, um sich in verschiedenene Branchen einzukaufen. Hätten Sie es gewusst? Barclays Bank, Visa Total, BP und Shell - an diesen großen westlichen Firmen ist China bereits beteiligt.

Im ölreichen Nigeria startet China gerade einen Frontalangriff gegen westliche Ölkonzerne. Der staatliche chinesische Ölkonzern CNOOC will den Zugriff auf gleich 23 Ölfelder in Nigeria, die derzeit noch von westlichen Ölkonzernen kontrolliert werden. Das Geschäft soll einen Umfang von 30 bis 50 Mrd. US$ haben. Für Ölkonzerne kommt dieses massive Milliarden-Gebot der Chinesen zu einem ungünstigen Zeitpunkt. Zum einen liegen die nigerianische Regierungen im Streit über Modernisierung und Unruhen auf den Ölfeldern, zum anderen müssen 16 der 23 Öllizenzen bald erneuert werden.


Neue „Globalisierungsoffensive“ Chinas

Das Beispiel zeigt: China legt im Wettrennen um Ressourcen zu. Der Westen würde in der Region erheblich an Einfluss verlieren, wenn China den Zuschlag bekommen würde. Gleichzeitig wird deutlich, dass Nigeria nur ein Teil einer groß angelegten Strategie ist. Deutsche Bank Research spricht sogar von einer „Globalisierungsoffensive" erwartet eine „zweite Welle chinesischer Investitionen im Ausland".

Im Fokus der Chinesen: der angeschlagene Finanzsektor. „Nach dem Abklingen der Finanzkrise könnten chinesische Finanzunternehmen zunehmend international agierende - und zurzeit -angeschlagene finanzielle Schwergewichte herausfordern", so Deutsche Bank Research.

Das bedeutet: China wird mit seinen enormen finanziellen Ressourcen auf der Weltbühne zunehmend als Hauptakteur auftreten und seine Machtposition sowohl politisch, militärisch als auch wirtschaftlich weiter ausbauen. Obwohl China in den letzten Jahren schon eine rasante Entwicklung hinter sich hat, beurteilt Deutsche Bank Research: „Die Reise hat gerade erst begonnen."

Der chinesische Aktienmarkt hat diese Entwicklung mit Kursanstiegen von 82% seit Jahresanfang offenbar teilweise schon vorweggenommen. Dabei wird der chinesische Weg zum Global Player nicht geradlinig verlaufen. Dagegen sprechen schon zunehmende soziale Unruhen sowie die sich verschärfende Umweltproblematik.

Deshalb ist jederzeit eine Korrektur von 20% und mehr möglich. Wer auf diesem Niveau noch in chinesische Werte einsteigen will, braucht entweder starke Argumente oder starke Nerven. Für einen Neueinstieg bietet sich erst eine Korrektur an. Und wenn dann auch nur mit einem Teil des vorgesehenen Geldes

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

Victoria Gold Announces $10.0 Million Bought Deal Equity Special Warrant Financing - Oct 29, 2009
http://marketwire.com/mw/search.do

[Popeye82]

Riversdale, Tata approve $270m Mozambique coal mine - Mining Weekly, JOHANNESBURG - Oct 28, 2009

- Chanel Pringle -
www.miningweekly.com/article/riversdale-tata-approve-270m-mo…

[Popeye82]

Kopane raises £3,3m for Lesotho diamond project - Mining Weekly, JOHANNESBURG - Oct 28, 2009

- Chanel Pringle -
www.miningweekly.com/article/kopane-raises-33m-for-lesotho-d…

"JOHANNESBURG (miningweekly.com) - Aim-listed diamond producer Kopane Diamond Developments plans to raise £3,3-million, after expenses, for working capital purposes related to its Liqhobong project, in Lesotho.

The funds would be raised through a placing of 25,7-million new ordinary shares with institutional and other investors at £0,14 a share.

The company noted that it had earlier determined that it would require about £2,4-million to fund the completion of a definitive feasibility study (DFS) and to finance the company until the end of next year, at which time the construction of the Main Pipe project was expected to start.

Substantial value had recently been added to the project's diamond resource, as the mining potential of the Main Pipe had been enhanced.

The Main Pipe's total resource had increased by 19,1% to 90,03-million tons, compared with the resource estimates provided in November last year.

A diamond resource of 29,7-million carats was contained in the Main Pipe to a depth of 510 m, with an estimated value of $2,54-billion, the diamond-miner stated.

It highlighted that these improved results meant that Kopane could demonstrate higher confidence in the recoverable resource, as the indicated resource of 38,6-million tons, alone, represented in excess of 11 years of production at over one-million carats a year.

However, with only £400 000 of cash resources, the cost of the remaining DFS work had been reviewed by Kopane, especially in light of the strong rand against the pound.

If the unfavourable exchange rates persisted until the end of 2010, the company would require about £3,2-million for working capital.

Kopane has subsequently decided to defer incurring expenditure on some elements of the DFS in favour of expenditure on other aspects that could have a more immediate revenue generation potential, such as a review of potentially resuming diamond production at the Liqhobong Satellite plant, which was placed on care-and-maintenance at the end of 2008.

The review would look at the feasibility of the operating the satellite plant with diesel-generated power ahead of connection to the electricity grid, which was expected in the first half of 2011.

Kopane would also review the most economical way of expanding production at the plant to 1,4-million carats a year.

It would also use trade-off studies to determine the timing and impact of further expansion of the satellite plant, as well as the possible gradual construction of the new Main Pipe plant and funding options for this.


PLACING DETAILS

Lanstead Capital, one of the institutional investors, would take up 22,5-million of these shares for an aggregate subscription of £3,15-million.

Kopane had also entered into an equity swap agreement with Lanstead, which would allow the company to retain some of the economic interest in the issued shares, it stated.

In terms of the agreement, Kopane's economic interest would be determined and payable in 24 monthly tranches, measured against a benchmark price of £0,19 a share. If the measured price exceeds the benchmark price, the company would receive more than 100% of the monthly payment.

If the price is below the benchmark price, the company would receive less than 100% of the monthly payment.

Kopane had incurred a cost of £350 000 to enter into the equity swap agreement, of which £35 000 had been paid in cash. The balance would be paid through the issuing of 2,25-million new ordinary shares to Lanstead. "

[Popeye82]

Japanese Team Crosses Australia, Takes Solar Car Challenge - POPSCI - 10.28.2009

- Mike Spinelli -

- After nearly four days, 1,860 miles, and lots of baking Australian sun, a team from Japan's Tokai University edged out 31 other competitors to bring home a solar victory in the 2009 Global Green Challenge. -
www.popsci.com/node/40142/?cmpid=enews102909

"
- Japan's Tokai Challenger, Tokai University -

A team of solar-car scientists from Japan's Tokai University turned the intense rays of central Australia into victory in the 2009 Global Green Challenge. The team covered nearly 1,860 miles over four days in their solar-powered Tokai Challenger to claim first place among the Challenge's solar-vehicle field.

The win shut down a four-win streak by Dutch utility Nuon, which as of this writing was still battling the University of Michigan for second place. The Tokai Challenger, which is equipped with six square meters of 1.8 kW compound solar cells developed by Sharp for outer-space applications, placed fourth in qualifying at an average speed of 50.87mph. During the race, the team reportedly took the lead on day one, and stayed there all the way to the finish line.

Thirty-two solar vehicles from 16 countries made the start of the 2009 Global Green Challenge last Sunday. The bi-annual Global Green Challenge has separate categories for hybrid, electric, and other forms of alternative energy vehicles. Tokai's victory is the first by a Japanese team since 1993 when the Honda Dream II took first. "

[Popeye82]

Consolidated Thompson Announces Signing of a Long Term Lease Agreement With Port of Sept-Iles While Initiating Construction of Ore Handling Facilities at Pointe Noire - Oct 29, 2009
www.marketwire.com/press-release/Consolidated-Thompson-Iron-…

[Popeye82]

Great Basin Gold Announces C$110 Million Bought Deal Public Offering of Convertible Debentures - 29 October 2009
www.grtbasin.com/index.html?lf=1;pg=25;ai=1290;pcat=2009

[Popeye82]

Wind Works acquires wind developer Zero Emission People; Canada’s Wind Works Power has signed a definitive agreement to fully acquire Zero Emission People, a privately-held US company, bringing it rights to develop 10 wind energy projects totaling 375 megawatts - ReCharge - Oct 29, 2009
www.rechargenews.com/energy/wind/article197137.ece?utm_sourc…

[Popeye82]

Chalice Gold Mines Limited - Koka to be a highly profitable gold mine - Scoping Study - Oct 30, 2009
www.asx.com.au/asxpdf/20091030/pdf/31lshsv2q9px2l.pdf

[Popeye82]

Today's headlines - Point Carbon - Oct 30, 2009
www.pointcarbon.com

"Today's headlines

*Analysis pegs Canadian carbon at $94 in 2020
*RGGI falls 1.7% amid slow trade
*Blue Source targets farmers with new venture
*US growth boosts carbon prices
*US exchange sees boost in CER deals: interview
*Eastern EU nations pin AAU hopes on Russia
*Canada needs international offsets: experts
*Russia smoothes path for AAU sale
*Prices may fall €2 after UN summit: report
*EU, US expand energy-efficiency programme
*Power data shows UK to need fewer EUAs
*Japan exchanges announce emissions trading plan
*Tricorona revises down CER issuance, portfolio shrinks
*Japanese industrial output rises "

[Popeye82]

MINING.com Magazine, "Productivity Issue" - Nov/Dec09
http://magazine.mining.com/issues/0911/
http://viewer.zmags.com/publication/504803a7#/504803a7/1

[Popeye82]

S&P Maintains Negative Outlook on Most Insurance Sectors - Research Recap - Oct 30, 2009
www.researchrecap.com/index.php/2009/10/29/sp-maintains-nega…

[Popeye82]

Global Economic Outlook Q4 2009 - Deloitte - Oct09
www.deloitte.com/assets/Dcom-Global/Local Assets/Documents/D…

[Popeye82]

Emerging Asian Economies Recovering from Downturn Faster; The IMF says the “green shoots” of recovery appear more firmly rooted in Asia than in other regions - Research Recap - Oct 30, 2009
www.researchrecap.com/index.php/2009/10/29/emerging-asian-ec…
www.imf.org/external/np/sec/pr/2009/pr09372.htm
www.imf.org/external/pubs/ft/reo/2009/apd/eng/areo1009.pdf

"Asia’s growth is forecast to accelerate to 5¾ percent in 2010 from 2¾ percent in 2009, both higher than previously projected, according to the International Monetary Fund’s Regional Economic Outlook (REO) for Asia and the Pacific, This is much higher than the 11⁄4 percent growth forecast for the G-7 countires next year, but still below the 6 2⁄3 percent average recorded over the past decade.




“Not only are they (green shoots) more prevalent, but they have also appeared earlier (in April in many cases), and have progressed further. The progress made by China, in particular, is striking. Alone among major countries, its key growth indicators were expanding in August at rates that are above their long-term trend. In contrast, indicators in key Western economies, such as the United States and Germany, suggest that output was only stabilizing in August after months of severe contraction.”



Overall in Asia, policymakers consequently face two major challenges, the IMF says.”In the near term, they will need to manage a balancing act, providing support to economies until it is clear that the recovery is sufficiently robust and self-sustaining, while ensuring that it is not maintained for so long that it ignites inflationary pressures or concerns about fiscal sustainability. Striking the right balance will be difficult. But the key is clear: policymakers will need to assess the state of private demand and the extent to which it can substitute for a withdrawal of public sector demand. ”

"The other major policy challenge will be to devise a way to return to sustained, rapid growth in a new global environment of softer G-7 demand. "


In this “new world,” Asia’s longer-term growth prospects may be determined by its ability to recalibrate the drivers of growth to allow domestic sources to play a more dynamic role. This type of successful rebalancing will require action on a broad front. Better social safety nets will be needed to reduce private precautionary savings and continued efforts at financial sector and corporate governance reforms would also allow households to offset higher corporate saving by increasing consumption. At the same time, structural reforms could raise productivity and allow for a smooth reallocation of resources across the economy to compensate for the lower momentum from exports. Finally, Asia will need to be willing to live with smaller current account surpluses and more flexible exchange rate management. "

[Popeye82]

Goldsource Mines - Receives Manitoba Permits; Updates Border Technical Report Status - Oct 30, 2009
www.goldsourcemines.com/_resources/news/nr_09_10_30.pdf

[Popeye82]

Sony outlook suggests sector recovery - Reuters, TOKYO - 30 OCT 2009 08:46 GMT

- By Kiyoshi Takenaka -

- TOKYO (Reuters) - Sony and Panasonic signalled the worst may be over for the world's two largest consumer electronics makers as they raised their full year outlooks, helped by cost cuts. -
http://uk.reuters.com/article/idUKTRE59T0PH20091030

[Popeye82]

Bahamas signs tax accord with UK - Reuters, NASSAU - 30 OCT 2009 04:54 GMT

- NASSAU (Reuters)- The Bahamas on Thursday signed a tax information agreement with Britain, in a move it heralded as another step towards inclusion on an Organisation for Economic Cooperation and Development (OECD) "white list" of countries that meet internationally agreed tax standards. -
http://uk.reuters.com/article/idUKTRE59T07L20091030

"NASSAU (Reuters)- The Bahamas on Thursday signed a tax information agreement with Britain, in a move it heralded as another step towards inclusion on an Organisation for Economic Cooperation and Development (OECD) "white list" of countries that meet internationally agreed tax standards.

The Bahamas already had a Tax Information Exchange Agreement (TIEA) with the United States and it has been negotiating a number of similar accords with other governments to comply with the OECD standard.

The TIEA with the United Kingdom is the fourth signed by the Bahamas so far.

The Atlantic archipelago located southeast of Florida needs 12 such agreements to be removed from an OECD "gray list" of countries that are not yet in full compliance with international tax standards.

"This signing of this TIEA is another step towards the government of the Bahamas fulfilling its commitment to the evolved international standards of transparency and information exchange," said the Bahamas' Minister of State for Finance Zhivargo Laing.

"As the Bahamas and the United Kingdom adjust to the ever-changing global financial and economic landscape, we look forward to cooperation with the United Kingdom in this and other areas, and to a continued robust and amiable relationship between our two countries," Laing said.

The TIEA agreements allow tax authorities to access information about people who are seeking to evade payment of taxes and help disclose assets that have not been reported in their home countries.

In an interview with Reuters last month, Bahamian Prime Minister Hubert Ingraham rebuffed some criticism of offshore financial centres perceived as tax havens by the United States and other members of the Group of 20 economic powers.

But Ingraham said he understood that as national economies shrank in the global economic downturn, it was a "legitimate undertaking" for governments around the world to try to recover funds they believed they were owed in unpaid taxes.

(Reporting by Neil Hartnell; Editing by Tom Brown) "

[Popeye82]

Latin to lose its domain over Internet - Reuters, SEOUL - 30 OCT 2009 08:36 GMT

- SEOUL (Reuters) - The body in charge of assigning the world's Internet users their online addresses on Friday said it had agreed to allow the use of any of the world's scripts, no longer just the Latin alphabet. -
http://uk.reuters.com/article/idUKTRE59T0Z120091030

"SEOUL (Reuters) - The body in charge of assigning the world's Internet users their online addresses on Friday said it had agreed to allow the use of any of the world's scripts, no longer just the Latin alphabet.

The Internet Corporation for Assigned Names and Numbers (ICANN), which approved the change at a meeting in Seoul, said in a statement it could lead to a dramatic rise in the number of Internet users.

"This is only the first step, but it is an incredibly big one and an historic move towards the internationalisation of the Internet," ICANN's President and CEO Rod Beckstrom was quoted as saying.

"We have just made the Internet much more accessible to millions of people in regions such as Asia, the Middle East and Russia."

The programme will be rolled out in stages, starting November 16.

Initially, it will allow internationalised domain names (IDNs) using scripts such as Chinese, Korean or Arabic for the country code designators at the end of an address name.

Eventually, the use of IDNs will be expanded to all types of Internet address names.

ICANN was set up in 1998 and operated under the aegis of the U.S. Commerce Department. It decides what names can be added to the Internet's top level domains (TLDs) such as .com as well as country designations.

Last month, the U.S. government agreed to changes that in effect meant ICANN would no longer report solely to the United States.

(Reporting by Jonathan Thatcher; Editing by Nick Macfie) "

[Popeye82]

Nevsun Completes Cdn$32,775,000 Financing - Oct 30, 2009
www.marketwire.com/press-release/Nevsun-Resources-Ltd-TSX-NS…

[Popeye82]

Market Report – Investments Pick up in Miners Big and Small - Mining Technology - 30 October 2009
www.mining-technology.com/news/news68545.html?mxmroi=1370053…

"The mining industry has been just as active this week as it was the last with companies big and small investing in opportunities around the world.

Rio Tinto concluded its second tranche of investment in Ivanhoe Mines, raising its shareholding by 9.8% to 19.7%.

The second tranche comprises 46,304,473 common shares at an $8.38 per share subscription price for $388,031, 483.74 total consideration.

Mining and exploration company Elkhorn Goldfields signed a letter of intent with gold miner Apollo Gold to acquire all outstanding capital stock in Montana Tunnels Mining, Apollo's indirect wholly owned subsidiary for $9m.

The agreement also covers Montana Tunnels' 50% stake in the joint venture pact with Elkhorn's affiliate Elkhorn Tunnels, the Diamond Hill mine and mill and all ancillary assets.

Both companies agreed to proceed with the drafting of definitive transaction documents to complete the transaction.

At the smaller end of the scale, junior miner Jiminex says it will buy a 100% stake in the Misehkow gold property located in north-western Ontario, Canada, for $54,000 and 100,000 common shares.

The property contains 21 contiguous non-patented mining claims amounting to 299 claim units with a 48km2 area.

LS-Nikko Copper also signed an option agreement with Inmet Mining to purchase a 20% option interest in the Cobre Panama copper project in Panama.

In the east, China's state-owned sovereign wealth fund China Investment Corporation (CIC) will invest $15m in Ivanhoe Mines subsidiary Canadian coal company SouthGobi Energy Resources for a 15% share in the latter's Mongolian coal projects.

CIC's investment will help SouthGobi expand production at the Mongolia-based Ovoot Tolgoi open-pit mine to eight million tonnes of high-quality coal per annum from the present sales target of 1.5 million tonnes for 2009.

Britain's Barclays Bank increased its stake in Chinese gold producer Zijin Mining from 8.84% to 9.19%. The bank purchased 14.22 million shares of Zijin Mining at a HK$8.12 average share price.

And Australian miner BHP Billiton started accepting bids for its $500m Maruwai coal project in Indonesia, which is expected to yield one million tonnes of metallurgical coal per annum.

BHP is receiving bids for 100% of the project and also for 25% minority shares. Indonesia's PT Bumi Resources is one of the bidders for the project. The miner has not revealed how much of the project it proposes to sell.

Australian gold explorer Perseus Mining has decided to raise $58.5m in capital to help develop its Ghana-based Ayanfuri Gold Project.

Perseus is currently pursuing an exploration programme to expand its seven million ounce gold resource base, with seven drill rigs in operation at Ayanfuri and Tengrela in the Ivory Coast. "

[Popeye82]

DAO Mining Signs Agreement with Mongolia for Copper Deposit - Mining Technology - 30 October 2009
www.mining-technology.com/news/news68415.html?mxmroi=1370053…

"DAO Mining has signed an agreement with the Mongolian Government to develop a huge copper and gold deposit.

The agreement, which also includes Rio Tinto through a separate investment, helps eliminate ambiguity over taxation and the government’s role and lays the foundation for additional overseas investments.

Mongolia contains large unexploited reserves of copper, gold, coal and other mineral deposits.

An additional 24 other resource deposits are awaiting development and privatisation.

Mongolia contains roughly 62,000t of uranium reserves and 100 billion tonnes of coal reserves.

The Mongolian Government aims to attract overseas investment worth $25bn in the mining sector over the next five years.

Mongolia has been unable to capitalise on the global commodities boom due to political and regulatory uncertainties. "

[Popeye82]

Roots and Tubers: Tapping Ancient Crops to Meet 21st Century Challenges - CIP - Oct 29, 2009
www.cipotato.org/pressroom/press_releases_detail.asp?cod=68

[Popeye82]

Wrapping Solar Cells around an Optical Fiber; Dye-sensitized cells get a double boost from nanowires and optical fiber - TR - Oct 30, 2009

- By Katherine Bourzac -
www.technologyreview.com/energy/23829/?nlid=2476
www3.interscience.wiley.com/journal/26737/home?CRETRY=1&SRET…

"Dye-sensitized solar cells are flexible and cheap to make, but they tend to be inefficient at converting light into electricity. One way to boost the performance of any solar cell is to increase the surface area available to incoming light. So a group of researchers at Georgia Tech has made dye-sensitized solar cells with a much higher effective surface area by wrapping the cells around optical fibers. These fiber solar cells are six times more efficient than a zinc oxide solar cell with the same surface area, and if they can be built using cheap polymer fibers, they shouldn't be significantly more expensive to make.



- Solar on fiber: An optical fiber (left) is covered in dye-coated zinc-oxide nanowires (closeup, right). Both images were made using a scanning electron microscope. Credit: Angewandte Chemie -


The advantage of a fiber-optic solar-cell system over a planar one is that light bounces around inside an optical fiber as it travels along its length, providing more opportunities to interact with the solar cell on its inner surface and producing more current. "For a given real estate, the total area of the cell is higher, and increased surface area means improved light harvesting and more energy," says Max Shtein, an assistant professor of materials science and engineering at the University of Michigan who was not involved with the research.

Fiber-optic solar cells could also be used in ways that aren't possible currently. Zhong Lin Wang, professor of materials science and engineering at Georgia Tech, says fiber solar cells would take up less roof area than planar cells because long lengths of the fibers could be nestled into the walls of a house like electrical wiring.

Dye-sensitized solar cells use dye molecules to absorb light and generate electrons. The Georgia Tech group first removes the cladding from optical fibers and then grows zinc-oxide nanowires along their surface, like bristles on a pipe cleaner. Next, the fibers are treated with dye molecules, which the zinc-oxide structures absorb. The advantage of coating nanowires, rather than a smooth surface, with the dye is that the wires collectively have a very large surface area. The more dye molecules there are over a given area of such a cell, the more light it can absorb, says Wang. The dye-coated fibers are then surrounded by an electrolyte and a metal film that carries electrons off the device. The work is described online in the journal Angewandte Chemie International Edition.

"The question is, can you absorb all the light using a small amount of materials?" says Yi Cui, assistant professor of materials science at Stanford University. Building a nanostructured cell on an optical fiber provides a way to do this by increasing both the surface area covered by the dye and the effective path length of the light, he says. The longer a photon travels through a solar cell, the more opportunities it has to interact and generate an electron.

One potential stumbling block for fiber cells is getting enough light inside them in the first place. Wang's devices only collect light at their tips, so to get enough light into such a solar cell without having to track the sun, smaller fibers might be bundled together. Cui says the tips of the fibers could be made of materials that are very effective at directing light into the fiber. Another way to overcome this problem is to build fiber cells that can absorb light along their entire length, not just at the tips--which Michigan's Shtein is working on. This is tricky, because it means the cells' coatings need to be both electrically conductive and transparent, an unusual combination.

However, Shtein says that fibers that absorb light from the sides offer "an interesting architecture for light capture, because you can distribute the fibers in space in a way that helps you capture more photons more effectively than you can in a planar device." The shallower the angle at which light hits a planar cell, the more light reflects off its surface. But the light reflecting off the curved surface of a fiber at a shallow angle will hit an adjacent fiber. These cells could be designed so that it's not necessary to install them with sun-tracking systems, and they would work on cloudy days when the light is diffuse, Shtein says.

Wang says the next step is to try different materials. So far, he has built the cells on quartz optical fibers, which are relatively expensive. Next he plans to try making the cells using cheaper polymer fibers. "

[Popeye82]

Testing Cheap Wind Power; A continuously variable transmission could lead to cheaper wind power--if it is rugged enough - TR - Oct 29, 2009

- By Peter Fairley -
www.technologyreview.com/energy/23823/
www.technologyreview.com/video/?vid=475

"Federal stimulus funds awarded to a wind-energy research consortium led by Illinois Institute of Technology will accelerate testing of small wind turbines that could point the way towards more efficient utility-scale machines. The eight-kilowatt turbines, the product of Cedar Park, TX-based Viryd Technologies, use a mechanical approach--continuously variable transmission (CVT) technology--to convert fluctuating wind speeds into the precise stream of alternating current required by power grids. If it can replace the pricey power electronics that regulate power in most turbines today, the same technology could cut the cost of wind-power generation at any scale.



- Black box: This eight-kilowatt wind turbine uses a continuously variable transmission--the small, silver-colored unit on the left below the rotor--to regulate its power. The turbine’s developer, Cedar Park, TX-based Viryd Technologies, claims that its use of mechanical instead of digital power regulation will cut manufacturing costs by 20 percent and boost power output. Credit: Viryd Technologies -

The question is whether the CVT is tough enough. Viryd parent company Fallbrook Technologies has already commercialized its technology as a smooth-shifting alternative to gears and derailleurs in high-end bicycles and is working on larger vehicle applications. Wind power, however, is a particularly demanding application, according to Jason Cotrell, a senior engineer at the Department of Energy's National Wind Technology Center in Golden, CO. "Wind turbines are subject to very high torque for 80,000 hours of operation, so it's a very challenging environment," Cotrell says. "CVTs tend to be complex, and we haven't yet verified that they're suitably robust."

Most CVTs vary transmission ratios by sliding metal belts up and down a set of precision curved parts--a design that is expensive to implement at high torque. Fallbrook's technology relies on comparatively simple parts, promising lower cost and greater durability, according to CTO Rob Smithson. "It's basically a big ball bearing, which is a global commodity," Smithson says.

The CVT transfers power between a set of rings--an input ring and an output ring--via a set of rolling balls sandwiched between them (seven or eight balls, each slightly smaller than a golf ball, in Viryd's case). Tilting the balls' axis of rotation causes the rings to travel different distances with each rotation of the balls. A pressurized transmission fluid keeps the balls and rings from chewing each other up in the process.

Viryd CEO John Langdon says that its turbine control system manages the balls' tilt to spin the turbine's rotor at the optimum frequency to maximize energy capture for a given wind speed, and to synchronize the AC power output from the turbine's generator with the power grid. As a result, they use substantially less power electronics, and less sophisticated generators. He promises the turbines will be 20 percent less expensive than existing eight-kilowatt turbines, which currently cost about $40,000 installed.

The $8 million project, led by Illinois Institute of Technology's Wanger Institute for Sustainable Energy Research, is one of several to test whether the cheaper turbines can endure. If these prototypes pass muster, Langdon's plan is to install 50 more during the first half of next year for dealers and then to begin marketing the turbine to homeowners and small businesses in the second half of the year. The turbine is rated to generate about 10,000 kilowatt-hours of electricity annually, which is close to the average U.S. homeowner's power budget. Langdon predicts a ready market, thanks to state and federal incentives.

Viryd's eventual goal is to scale up to utility-scale wind farms. Scaling up the CVT technology to deliver on that promise is a matter of increasing the size and number of balls to handle the higher torque coming from the utility-scale machine's larger blades, which can exceed 60 meters in length (15 times longer than the blades on Viryd's eight-kilowatt turbine). A utility-scale turbine could require 12 half-meter-diameter balls, says Langdon.

At least one other startup is chasing the same opportunity--Israel's IQwind. Last month IQwind signed up Spanish engine manufacturer Grupo Guascor to produce its variable-speed transmissions as a retrofit for 750-kilowatt wind turbines. "

[Popeye82]

Solitario Receives Notice from Metallic Ventures Gold of a Superior Offer - Oct 30, 2009
www.solitarioxr.com/news/103009.pdf

[Popeye82]

Blair's chances of winning EU president role slip - Reuters, BRUSSELS - 30 OCT 2009 01:04 GMT

- By John O'Donnell &Tim Castle -

- BRUSSELS (Reuters) - Former Prime Minister Tony Blair's chances of becoming president of the European Union receded Thursday when he failed to win the blessing of European socialists, the allies of the Labour Party. -
www.reuters.com/article/worldNews/idUSTRE59S4WJ20091029

[Popeye82]

Honduras' Zelaya set to return to power - Reuters, TEGUCIGALPA - 30 OCT 2009 06:55 GMT

- Sean Mattson -

- TEGUCIGALPA (Reuters) - Honduras' de facto government buckled under international pressure and agreed to allow the return to power of President Manuel Zelaya, who was toppled in a military coup four months ago. -
www.reuters.com/article/topNews/idUSTRE59S3LY20091030

"TEGUCIGALPA (Reuters) - Honduras' de facto government has accepted a U.S.-driven deal that opens the door for the return to power of President Manuel Zelaya, toppled in a military coup four months ago.

The breakthrough late on Thursday followed renewed pressure from senior U.S. officials who traveled to Honduras this week for a last-ditch effort to end a crisis that has given U.S. President Barack Obama a foreign policy headache.

"It is a triumph for Honduran democracy," the leftist Zelaya said after the rival sides agreed to a deal that he said should see him restored to office in the coming days.

Congress still needs to approve his return and it originally backed the coup against him but Zelaya said he did not expect any new setbacks. "This is a first step. My reinstatement is imminent, I'm optimistic," he told Reuters.

U.S. Secretary of State Hillary Clinton praised the deal as a victory for democracy in Latin America. "This is a big step forward for the Inter-American system and its commitment to democracy," she said in Islamabad.

Zelaya was toppled and sent into exile on June 28 but crept back into Honduras last month and has since been holed up in the Brazilian embassy with Honduran troops surrounding the building and his rivals demanding his arrest and trial.

De facto leader Roberto Micheletti, who took over the country within hours of Zelaya's ouster, had repeatedly refused to step aside to let the leftist return, but he softened his position on Thursday.

"I have authorized my negotiating team to sign a deal that marks the beginning of the end of the country's political situation," Micheletti told reporters on Thursday night.

He said Zelaya could return to office after a vote in Congress that would be authorized by the country's Supreme Court. The deal would also require both sides to recognize the result of a November 29 presidential election and would transfer control of the army to the top electoral court.

If approved by Congress, Zelaya would be able to finish out his presidential term, which ends in January. It was not clear what would happen to other elements of the agreement if Congress votes against Zelaya's restoration.

Micheletti said the deal will create a truth commission to investigate the events of the last few months, and would ask foreign governments to reverse punitive measures like suspending aid and canceling the travel visas of prominent figures involved in the coup and the de facto government.


END OF ISOLATION

The United States, the European Union and Latin American leaders had all insisted Zelaya be allowed to finish his term and they threatened not to recognize the winner of the November election unless democracy was first restored.

A U.S. team led by Assistant Secretary of State Tom Shannon and Dan Restrepo, Washington's special assistant for Western Hemisphere affairs, sat in on talks earlier in the day and warned that time was running out to reach a deal.

The coffee-producing Central American country has been diplomatically isolated since Zelaya was rousted at dawn by soldiers on June 28 and flown to exile on a military plane.

Zelaya had angered many in Honduras by becoming an ally of socialist Venezuelan President Hugo Chavez. Critics also alleged he was seeking backing to extend presidential term limits, a claim he denies.

Human rights groups have documented major abuses by the de facto government and say free and fair elections would be impossible after Micheletti curbed civil liberties and temporarily shut down pro-Zelaya news organizations.

Obama cut some aid to Honduras after the coup but had been criticized by some Latin American for not doing more to force the de facto government to back down. At home, however, some Republicans accused him of doing too much for Zelaya.

The collapse of talks last week prompted Secretary of State Hillary Clinton to dispatch the U.S. delegation to push again for a negotiated settlement.

(Additional reporting by Gustavo Palencia in Tegucigalpa, Deborah Charles in Washington; Writing by Jason Lange; Editing by Kieran Murray) "

[Popeye82]

House takes another step on healthcare reform - Reuters, WASHINGTON - 29 OCT 2009 23:01 GMT

- By John Whitesides &Donna Smith -

- WASHINGTON (Reuters) - Democrats in the U.S. House of Representatives unveiled a sweeping healthcare overhaul on Thursday that would transform the insurance market, create a government-run insurance plan and levy new taxes on the rich. -
www.reuters.com/article/domesticNews/idUSTRE59M4PB20091029

"WASHINGTON (Reuters) - Democrats in the U.S. House of Representatives unveiled a sweeping healthcare overhaul on Thursday that would transform the insurance market, create a government-run insurance plan and levy new taxes on the rich.

Weeks of closed-door negotiations to merge three House healthcare plans produced a 1,990-page bill that would cost a net $894 billion over 10 years -- just below President Barack Obama's target of $900 billion -- and reduce the deficit by $104 billion over the same period, budget analysts estimated.

"Today we are about to deliver on the promise of making affordable, quality health care available for all Americans," House Speaker Nancy Pelosi said in a ceremony on the steps of the U.S. Capitol.

The bill's release was another step forward in Obama's drive for healthcare reform that would rein in costs, reform the insurance industry and expand coverage to many of the 46 million uninsured living in the United States.

Obama has made an overhaul of the $2.5 trillion industry, which constitutes one-sixth of the economy, his top domestic priority.

The bill was met with unanimous opposition from Republicans and grumbling from some Democrats. Party liberals had sought a stronger public insurance option and party moderates want assurances that federal funds will not be used to pay for abortions under the measure.

The legislation could be debated in the House as soon as next week. The Senate is putting together its own version, and the House and Senate bills eventually must be combined before being sent to Obama for his signature.

Obama praised House Democratic leaders for the insurance industry reforms and said he was pleased the bill featured a public insurance option and was fiscally responsible.

"The House bill clearly meets two of the fundamental criteria I have set out: it is fully paid for and will reduce the deficit in the long term," he said in a statement.

Republicans have battled Obama and Democrats at every juncture in the healthcare debate, and they criticized the size, cost and scope of the House legislation.


'BEHIND CLOSED DOORS'

"Americans' health care is too important and too complex to risk on one gigantic bill that has been written behind closed doors," said Representative Dave Camp, the senior Republican on the House Ways and Means Committee.

House Republican leader John Boehner urged Democrats to slow down the process and allow a full floor debate. "This huge bill is designed to be so complex that nobody would ever know for sure what's in it," he said.

The House bill would expand coverage to 36 million uninsured people living in the United States, the Congressional Budget Office said. It would offer subsidies to help the uninsured purchase insurance through newly created exchanges.

It would require individuals to buy insurance and all but the smallest employers to offer health coverage to workers. It also would bar insurers from refusing to cover people with pre-existing medical conditions and eliminate the industry's exemption from federal antitrust laws.

The House proposal includes a 5.4 percent surtax on individuals making more than $500,000 and couples earning more than $1 million, which would bring in an estimated $460 billion over 10 years to help pay for covering the uninsured.

It also would save money by expanding eligibility for the government's Medicaid health insurance program for the poor to people with incomes up to 150 percent of the official poverty level. Covering people through Medicaid is cheaper for the government than providing subsidies to purchase insurance.

The nonpartisan Congressional Budget Office said the subsidies for health insurance coverage would cost $1.055 trillion over 10 years, to be offset in part by $167 billion in penalties paid by individuals and employers who fail to obtain insurance.

The proposed new government-run insurance program has been a flashpoint in the debate. Obama and liberals see it as a way to increase competition with private insurers, but critics say it would lead to a government takeover.

In the House bill, the public option would use reimbursement rates negotiated with doctors and hospitals. House liberals led by Pelosi could not muster the votes for a stronger version pegged to rates for Medicare, the government's health insurance program.

The healthcare measure being prepared for debate in the Senate also includes a public option based on negotiated reimbursement rates but, unlike the House bill, it would allow states to decline to participate.

The House bill does not include the Senate's proposal to tax high-cost "Cadillac" insurance plans, which has been opposed by House Democrats and labor unions who fear it will hurt too many middle-income workers.

The lobbying group for the insurance industry, America's Health Insurance Plans, criticized the proposed government-run insurance program, arguing it would cause people to lose their existing coverage.

"A new government-run plan would bankrupt hospitals, dismantle employer coverage ... and ultimately increase the federal deficit," Karen Ignagni, the group's president, said in a statement.

(Editing by Chris Wilson) "

[Popeye82]

Alexandria Increases Global Resources On Its Cadillac Break Properties With NI 43-101 Compliant Resource Estimate on Sleepy - Oct 29, 2009
www.azx.ca/news/2009/oct292009.asp

[Popeye82]

Geodex Reports Encouraging Exploration Results on Its Flume Ridge Tungsten Property in New Brunswick-Drill Program Underway - Oct 30, 2009
www.marketwire.com/press-release/Geodex-Minerals-Ltd-TSX-VEN…

[Popeye82]

EU agrees final stance for Copenhagen climate talks - Reuters, BRUSSELS - 30 OCT 2009 15:12 GMT

- Pete Harrison &Marcin Grajewski -

- BRUSSELS (Reuters) - European Union leaders agreed an offer Friday to put on the table at global climate talks in Copenhagen in December after healing a rift over how to split the bill. -
http://uk.reuters.com/article/idUKTRE59S2XK20091030

"BRUSSELS (Reuters) - European Union leaders agreed an offer to put on the table at global climate talks in Copenhagen in December after healing a rift over how to split the bill.

Developing countries will need 100 billion euros ($148 billion) a year by 2020 to battle climate change, leaders said at an EU summit in Brussels on Friday.

About 22-50 billion euros of the total will come from the public purse in rich countries worldwide and the EU will provide a share of that. Many countries expect the EU's portion to be somewhere between 20 and 30 percent.

"I think this will be seen as one of the major breakthroughs that is necessary for us to get a Copenhagen agreement," British Prime Minister Gordon Brown said.

East European countries said the summit had settled a rift over how to split the EU's portion of the bill in a way that would not hurt their economies as they recover from crisis.

"We consider this a success for Poland," said the Polish minister for Europe, Mikolaj Dowgielewicz. "We want to develop quickly. We don't want to become the museum of folklore of eastern Europe."

Leaders fell short of agreeing a concrete formula for carving up the bill and handed that job to a new working party.

"I would prefer this burden-sharing mechanism to be ready now, but this proved too difficult," Polish Prime Minister Donald Tusk said.


MANDATE

The two-day summit secured a complex negotiating mandate for the Copenhagen talks to find a successor to the Kyoto Protocol, the United Nations anti-climate change scheme expiring in 2012.

Success at those talks is likely to hinge on money.

Developing countries say they will not sign up to tackling climate change without enough funds from rich nations, which bear most of the responsibility for damaging the atmosphere by fuelling their industries with oil and coal over decades.

Developing countries might use such funds to adapt their agriculture or find new sources of water in drought zones.

But the European leaders put on hold earlier plans to come up with "fast start" financing for developing nations in the three years before any new climate deal takes effect.

Anti-poverty group Oxfam said Europe's bid was insufficient and lacked guarantees that the money would not simply be diverted from existing aid commitments.

"If rich countries steal from aid budgets to pay their climate debt, the fight against poverty will go into reverse," Oxfam's Elise Ford said.


HOT AIR

The opposition to a deal from east European countries largely dissipated after Sweden, which chaired the talks, leveraged the divisive issue of so-called "hot air" -- the 17 billion euros of carbon permits held by eastern Europe.

The eastern European states, Russia and Ukraine hold spare permits for about 9 billion tonnes of carbon emissions, left over when their economies collapsed after communist rule ended.

The spare permits, known as AAUs, can be sold to big polluters such as Japan for about 10 euros per tonne.

The eastern European countries want to keep selling AAUs under the deal that replaces Kyoto. But some countries such as Germany say they undermine the integrity of the agreement and want to scrap them because they lessen the need for action to limit greenhouse gas emissions.

Sweden won eastern Europe's support for the overall deal in return for postponing any bold action on AAUs, one EU diplomat said.

The deal also included action on domestic emissions, with a pledge to strengthen cuts to 30 percent below 1990 levels by 2020 if other nations take similar steps.

(Reporting by Pete Harrison, John O'Donnell, Marcin Grajewski, Tim Castle and David Brunnstrom, writing by Pete Harrison, editing by Timothy Heritage and Dale Hudson) "

[Popeye82]

WHO experts say flu vaccines safe, one dose needed - Reuters, GENEVA - 30 OCT 2009 14:04 GMT

- By Jonathan Lynn -

- GENEVA (Reuters) - Only one dose of vaccine is needed for protection against pandemic H1N1 flu and the jabs have so far proved to be safe, the World Health Organisation said on Friday. -
www.reuters.com/article/healthNews/idUSTRE59R38420091030

[Popeye82]

China’s A-Power wins huge turbine supply deal in Texas; A-Power Energy Generation Systems says it will supply 240 turbines for a proposed $1.5bn wind farm in West Texas, in a move that underscores China’s emergence as a major global wind industry heavyweight - ReCharge - Oct 30, 2009
www.rechargenews.com/regions/asia_pacific/article197355.ece?…

[Popeye82]

UK map shows catastrophic effects of 4C temperature rise; The UK’s Department of Energy and Climate Change (DECC) has released a new map showing the “catastrophic” effects of a 4C rise in temperatures across the globe, 45 days ahead of the Copenhagen climate change summit - ReCharge - Oct 30, 2009
www.rechargenews.com/business_area/politics/article196540.ec…
www.actoncopenhagen.decc.gov.uk/en/ambition/evidence/4-degre…

" The map – launched by Foreign Secretary, David Miliband, Climate and Energy Secretary Ed Miliband, and UK’s Chief Scientist, Professor John Beddington, was developed using research from the Met Office Hadley Centre and other leading impact scientists.

The map shows that a 4 degree average rise will not be spread uniformly across the globe, with land masses heating up more quickly than the sea, and high latitudes, particularly the Arctic, suffering the largest temperature increases. Average land temperatures will rise 5.5 degrees above pre-industrial levels.

The map shows a selection of impacts on human activity, highlighting “the severe effects on water availability, agricultural productivity, extreme temperatures and drought, the risk of forest fire and sea level rise.”

DECC says that agricultural yields are expected to decrease for all major cereal crops in all major regions of production. It warns that half of the Himalayan glaciers will be “significantly reduced” by 2050, leading to 23% of the population of China being deprived of their vital dry season glacial melt water source.

Foreign Secretary David Miliband said, “We cannot cope with a 4 degree world. To tackle the problem of climate change, all of us - foreign ministries, environment ministries, treasuries, departments of defence and all parts of government and societies - must work together to keep global temperatures to 2 degrees.”

Energy and Climate Change Secretary Ed Miliband said, “Britain’s scientists have helped to illustrate the catastrophic effects that will result if the world fails to limit the global temperature rise to 2 degrees. With less than 50 days left before agreement must be reached, the UK is going all out to persuade the world of the need to raise its ambitions so we get a deal that protects us from a 4 degree world.” "

[Popeye82]

"Die Stimmung bestimmt die Märkte!
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Rohstoffe Wochenrückblick: Energie und Metalle

Die gemischten Konjunkturdaten der vergangenen Woche setzten sowohl Aktien- als auch Rohstoffmärkte überwiegend unter Druck und boten dem USD mehrheitlich Unterstützung.

Während das deutsche DIW-Konjunkturbarometer für das 3.Quartal ein mit 0,8% gegenüber dem Vorquartal höheres BIP-Wachstum als zuvor prognostiziert, gab die Bundesagentur für Arbeit einen Rückgang der Arbeitslosenzahlen im Oktober um 118.000 bekannt. Die Arbeitslosenquote ist damit um 0,3 Prozentpunkte auf 7,7% gesunken. Hingegen zeigt der Konsumklimaindex der GfK für November einen Rückgang um 0,2 Punkte auf 4,0 Punkte. Dies entspricht dem ersten Rückgang seit September 2008. Darüber hinaus gab das Statistische Bundesamt für September einen Rückgang der Einzelhandelsumsätze gegenüber dem Vormonat bekannt. Auch die Großhandelsumsätze sind im September erneut deutlich gesunken.

Aus den USA meldete die Chicago FED für September einen Rückgang im National Acitvity Index. Wie das Conference Board darüber hinaus mitteilte ist das US-Verbrauchervertrauen im Oktober gesunken. Der entsprechende Index fiel von 53,4 Punkten im Vormonat auf 47,7 Punkte. Der Konsens hatte zuvor sogar einen Anstieg auf 53,5 Punkte prognostiziert. Auch der Index der Uni Michigan zum Verbrauchervertrauen ist gesunken. Im Oktober fiel der Index um 1,2 Punkte gegenüber dem Vormonat auf 69,4 Punkte. Prognostiziert wurde zuvor ein Rückgang auf 70 Punkte. Während die Zahl neuer verkaufter Häuser im September überraschend gesunken ist, stiegen dagegen die US-Auftragseingänge für langlebige Wirtschaftsgüter im September. Die Zahl der Erstanträge auf Arbeitslosenhilfe ist in der Vorwoche zwar leicht gefallen, enttäuschte dennoch die Erwartungen. Überraschend stark fiel dagegen die offizielle Schätzung für das BIP-Wachstum im 3.Quartal aus. So wurde ein Wachstum um 3,5% verlautet - deutlich stärker als erwartet und das erste Wachstum nach 4 Quartalen in Folge mit einer Schrumpfung.

Der DAX verlor im Wochenvergleich rund 5,7%. Der Nikkei schloss im Wochenvergleich mit 2,4% im Minus, während der Shanghai Composite gegenüber der Vorwoche rund 1,8% abgeben musste. Der Dow Jones notiert aktuell mit 2,5% im Minus gegenüber der Vorwoche.

Die Währungsmärkte waren von deutlicheren Schwankungen geprägt , mit deutlicherer Unterstützung der US-Währung. EUR/USD fiel aufgrund der schwächeren Stimmung am Mittwoch bis auf unter 1,47, erholte sich am Donnerstag aufgrund der BIP-Schätzungen aus den USA bis in den Bereich um 1,4855, notiert aktuell allerdings wieder bei 1,4737 und damit deutlich entfernt von den bisherigen Jahreshochs der letzten Woche bei über 1,50.


Energie

Die Ölpreise bewegen sich nach wie vor in deutlicher Abhängigkeit zur USD-Entwicklung, damit entlang der Stimmungsschwankungen und mittlerweile deutlich entfernt von den Jahreshochs der letzten Woche bei über 82 US-Dollar. Am Mittwoch fiel der Preis für WTI bis auf unter 77 US-Dollar pro Barrel und erholte sich am Donnerstag kurzzeitig bis in den Bereich um 80 US-Dollar um am Freitag wieder deutlich zurück zu fallen.

Weiteren Druck übten die am Mittwoch veröffentlichten, als gemischt zu bezeichnenden US-Lagerbestandsdaten aus. Zwar weisen die US-Rohöllagerbestände mit 800.000 Barrel einen geringen Anstieg als erwartet aus, dagegen sind allerdings die Benzinvorräte deutlicher angestiegen als erwartet. Hier weist das US-Energieministerium einen Anstieg um 1,6 Millionen Barrel aus. Dahingegen fielen überraschend die Destillatsbestände deutlicher als erwartet um 2,1 Millionen Barrel.

Aktuell notiert WTI zur Lieferung im Dezember bei 77,38 US-Dollar pro Barrel an der NYMEX.

Brent Crude zur Lieferung im Dezember notiert aktuell bei 75,60 US-Dollar pro Barrel an der ICE Futures Exchange in London.


Metalle

Edelmetalle

Der Goldpreis entfernte sich zunächst bis zur Wochenmitte hin weiter deutlich von seinem Allzeithoch bei 1.070 US-Dollar von Mitte Oktober. Am Mittwoch fiel der Preis bis in den Bereich um 1.025 US-Dollar, entlang der schwachen Stimmung, dem Druck auf die Risikorallye und der USD-Stärke.

Am Donnerstag konnte der Preis allerdings wieder deutlich zulegen im Zuge erneuter zwischenzeitlicher USD-Schwäche, aufgrund der euphorisch aufgenommenen US-BIP-Schätzung. So näherte sich der Goldpreis heute Morgen im asiatischen Handel bereits wieder der 1.050 US-Dollar-Marke, musste allerdings im europäischen Handel und entlang erneuter USD-Stärke wieder abgeben bis in den Bereich um 1.035 US-Dollar.

Dennoch scheint die Stimmung vorerst weiter für Gold zu sprechen: im amerikanischen Handel steigt Gold heute Abend wieder über 1.040 US-Dollar, trotz heutiger USD-Stärke.

Aktuell notiert Gold bei 1.041,40 US-Dollar pro Feinunze im Spotmarkt. Der London Gold Fix PM wurde heute bei 1.040 US-Dollar pro Feinunze festgesetzt.


Basismetalle

Auch die Industriemetalle bewegten sich in dieser Woche wieder entlang der übrigen Rohstoffpreise und in Negativ-Korrelation zur USD-Entwicklung - und damit entlang der Stimmungsschwankungen.

Konjunkturmetall Kupfer fiel von seinen Hochs der letzten Woche bei 3 US-Dollar bis auf 2,91 US-Dollar am Mittwoch, schloss allerdings am Donnerstag wieder bei 2,99 US-Dollar pro Pfund, mit deutlicher Unterstützung durch die US-BIP-Daten.

Aktuell notiert Kupfer bei 2,91 US-Dollar pro Pfund an der COMEX.


Ausblick: Ist das Peak der Risikorallye erreicht?
von Miriam Kraus


Soft Commodities

Auch die Grains haben von ihren Hochs der letzten Woche deutlich abgegeben (Mais erreichte in der vergangenen Woche ein 4-Monatshoch bei 4,13 US-Dollar pro Scheffel und Sojabohnen ein 10-Wochenhoch bei 10,29 US-Dollar pro Scheffel) und bewegten sich in dieser Woche entlang der übrigen Rohstoffmärkte, der USD-Entwicklung und der Stimmung.

Sojabohnen zur Lieferung im Januar fielen am Mittwoch bis auf 9,65 US-Dollar und erholten sich am Donnerstag bis auf 9,87 US-Dollar pro Scheffel.

Aktuelle notieren Sojabohnen zur Lieferung im Januar bei 9,76 US-Dollar pro Scheffel an der CBOT.

Mais zur Lieferung im Dezember fiel am Mittwoch bis auf 3,64 US-Dollar und erholte sich am Donnerstag bis auf 3,79 US-Dollar pro Scheffel.

Aktuell notiert Mais zur Lieferung im Dezember bei 3,66 US-Dollar pro Scheffel an der CBOT.

Unterstützend wirken Nachrichten des Nationak Weather Service die für den 5. und 11.November weitere Regenfälle für die Anbaugebiete von Illinois bis Kansas vorhersagen. Rekordregenfälle in diesem Monat haben bereits die Ernte verzögert und Spekulationen auf Ertragsminderungen angeheizt.

Bislang wurden nur rund 20% der Maisernte und 44% der Sojabohnenernte (gegenüber 80% im Durchschnitt der vergangenen 5 Jahre) eingefahren.


Ausblick

Mittlerweile scheint der Markt immer deutlicher auch auf gemischte Fundamentaldaten enttäuscht zu reagieren. Möglicherweise beobachten wir nun endlich erste Anzeichen für einen beginnenden Stimmungswechsel, wenn in den Marktteilnehmern tatsächlich die Gewissheit wächst, dass die Kombination von lockerer Geldpolitik und sich verbessernden Wirtschaftsindikatoren ihrem Ende näher rückt, was ein Zeichen dafür sein könnte, dass das Peak der Risikorallye vorerst erreicht worden ist. Sollte dies der Fall sein, dürfte mit weiteren Korrekturbewegungen und einer mittelfristigen Konsolidierungsphase zu rechnen sein. Die Ölpreise könnten ein nächstes Level in einer Range zwischen 70 und 75 US-Dollar finden.

Obgleich der Goldpreis natürlich in Abhängigkeit zur Währungsentwicklung betrachtet werden muss, sprechen mittelfristig nach wie vor viele Faktoren, wie Kreditmarktrisiken, mittel-bis langfristiger Druck auf die US-Währung (auch wenn kurzfristig durchaus mit einer zwischenzeitlichen USD-Rallye gerechnet werden kann) und die Stärke der Rohstoffpreise, für Gold. Mittelfristig halte ich deshalb nach wie vor deutlich höhere Preisnotierungen für das Ziel. Kurzfristig kann es allerdings zu Korrekturbewegungen kommen, welche allerdings limitiert bleiben dürften.

Nach wie vor bieten die fundamentalen Daten und Überlegungen im Kupfermarkt (wie der Förderanstieg in Chile oder der erneute Anstieg der Lagerbestände in Shanghai) keine Begründung für weiter steigende Preise, sonder eher einen Anreiz zu weiteren Produktionsausweitungen mit der Gefahr späterer deutlicher Überschüsse. Doch so lange der Markt vor allem von der Stimmung getrieben wird, ist auch nicht mit einem deutlichem Preisrückgang zu rechnen.

Für US-Sojabohnen ist ab Ende des Jahres wohl wieder mit wachsender Nachfrage aus China zu rechnen. Dennoch bleibt abzuwarten wie das Ergebnis der Ernte schlussendlich ausfallen wird - dies gilt im Übrigen auch für Mais. Sollten die prognostizierten starken Regenfälle eintreten ist zwischenzeitlich mit Preishüpfern bei den Grains zu rechnen. Vorerst dürften sich allerdings auch die Grains nicht dem Sog der Stimmung an den übrigen Märkten entziehen können.

So long liebe Leser...das wars für diese Woche....ich wünsche Ihnen ein schönes Wochenende und bis nächsten Montag, wenn wir uns wiederlesen....

Ihre Miriam Kraus "

[Popeye82]

Global Gender Gap Report - WEF - Oct09

- The World Economic Forum assesses how well countries are dividing resources and opportunities among their male and female populations. South Africa has leapt to sixth place in the Global Gender Gap Index. -
http://us-cdn.creamermedia.co.za/assets/articles/attachments…
http://us-cdn.creamermedia.co.za/assets/articles/attachments…

[Popeye82]

"==============================================================
01. INFO-KICKER: TURBULENTER MONAT ENDET MIT AUSVERKAUF - HT - Oct 30, 2009
==============================================================

Liebe Börsenfreunde,

hui, ich habe selten eine so turbulente Berichtssaison erlebt
wie in diesen Wochen. Für den Tradingmonat haben wir eine Reihe
von Tradingideen ausgearbeitet. Doch anders als ich es erwartet
hatte, ergaben sich schon zu Beginn des Monats eine ganze Reihe
von Ideen. Nun, gegen Monatsende, sind die meisten Fakten
bekannt und das Überraschungspotential ist gering.

Im heutigen Rückblick habe ich Ihnen eine Tradingidee
vorgestellt: Aixtron hatten wir geshortet. Recht haben und Geld
verdienen sind zwei unterschiedliche paar Schuhe: Wir hatten
Recht mit unserer Erwartung, dass der jüngste Kursanstieg von
Aixtron maßlos übertrieben war. Doch bevor der Kurs einbrach,
lösten wir die Position aus Vorsicht auf, denn ein Wettbewerber
hatte herausragende Zahlen vermeldet.

Die Hintergründe zu dieser Idee haben mich besonders
interessiert und so habe ich nun nochmals eine Darstellung der
Ereignisse vorgenommen. Mehr dazu im Kapitel 02.

Im heutigen Ausblick habe ich Ihnen meine Erwartung für die
nächsten Wochen begründet. Aus Vorsicht vor einer schwachen
Börse habe ich eine Aktie vorgestellt, mit der Sie sich gut
absichern können.

Im Kolumnen-Ticker habe ich das enttäuschende Quartalsergebnis
von First Solar analysiert. Der Wettbewerb in der Solarbranche
wird härter und die Margen schwinden. Dennoch wurden in dieser
Woche Aktien in den Abwärtsstrudel gezogen, die das eigentlich
nicht verdienen. Mehr dazu im Kapitel 04.

In der Leserfrage beschäftige ich mich erneut mit ETFs, einem
heiß diskutierten Thema. Je mehr ich mich mit ETFs beschäftige,
auch mit Index-ETFs, desto weniger halte ich davon. Man leistet
damit dem Herdentrieb Vorschub. Doch eine genaue Analyse der
ETFs bleibe ich Ihnen noch schuldig.

Ich wünsche eine anregende Lektüre,

take share, Ihr
Börsenschreibel

Stephan Heibel

Chefredakteur und
Herausgeber des
Heibel-Ticker

P.S.: Lassen Sie mich Ihre Meinung, Kritik oder
Verbesserungsvorschläge wissen (selbst Lob ist willkommen ;-)
und schreiben Sie mir an leserbrief/at/heibel-ticker/./de.

==============================================================
02. SO TICKT DIE BÖRSE: KAPITALERHÖHUNG VON AIXTRON
==============================================================

Heute erzähle ich Ihnen einmal, was sich im Hintergrund zu
einzelnen Meldungen und Entwicklungen abspielt. Am Beispiel von
Aixtron können Sie sehen, wie Banken sowohl mit Unternehmen als
auch mit institutionellen Großanlegern zusammen spielen, ohne
den Kleinanleger in die Hintergründe einzuweihen.

Als Maschinenbauer unterliegt die Geschäftsentwicklung von
Aixtron extrem den Konjunkturschwankungen. Im
Konjunkturabschwung werden alte Maschinen gewartet und weiter
betrieben, Aixtron bekommt kaum Aufträge. Zeichnet sich ein
Aufschwung ab, so rüsten sich die Unternehmen mit neuen
Maschinen für den zu erwartenden Ansturm. Im LED-Markt hat
Aixtron nun nicht nur vom anstehenden Konjunkturaufschwung
profitiert, sondern zusätzlich spielen technologische
Entwicklungen den Aachenern in die Hand: Die Glühbirne ist in
Deutschland bereits verboten, die Leuchtstoffröhre enthält
giftige Gase und kann nur eine Übergangslösung sein, alles
wartet auf den breiten Masseneinsatz von LEDs.

Aus der Krise kommend standen die Aktien von Aixtron bei 3
Euro. Wie eingangs beschrieben wurde Aixtron in besonderem Maße
abgestraft, denn in der Krise kauft man keine Maschinen. Die
Aktie kam von 10 Euro im Jahr 2008 und verlor binnen 6 Monaten
70% der Marktkapitalisierung.

Allein die Aussicht auf einen Konjunkturaufschwung ließ die
Aktie bereits kräftig ansteigen. Bis zum Juni stieg der Kurs
wieder auf 8 Euro.

Sodann zeigte sich im Sommer immer mehr, dass der Trend zur
Produktion von LEDs stärker wurde: Nicht nur für die Monitor-
Hintergrundbeleuchtung, sondern bald auch für
Straßenbeleuchtung und viele neue Anwendungen wurden LEDs
diskutiert. Die großen Produzenten begannen, neue Fabriken zu
planen und wurden vermutlich beim Marktführer von Maschinen für
die Herstellung von LEDs vorstellig: Bei Aixtron.

Diese Entwicklung blieb auch Anlegern nicht verborgen, die
Aktie stieg weiter bis auf 15 Euro im Hochsommer. Doch Wachstum
muss finanziert werden. Wenn die Nachfrage nach den eigenen
Produkten größer ist, als die eigene Produktionskapazität, muss
die Produktionskapazität ausgeweitet werden. Und das kostet
Geld.

So begab sich Aixtron im September diesen Jahres auf eine
„Roadshow“ in Kalifornien. Es wurden Analysten eingeladen und
die positive Marktentwicklung wurde in einer Präsentation
dargelegt.

Hier sind wir schon an dem ersten Stolperstein unseres
Finanzsystems angelangt: Welches Interesse hat ein Unternehmen
wie Aixtron an einer Roadshow? Es werden immer wieder Roadshows
veranstaltet, in denen das Ziel der besseren Information der
Anteilseigner verfolgt wird. Doch in vielen Fällen folgt nach
einer solchen Roadshow irgendeine „Überraschung“: Eine
Übernahme bzw. ein Verkauf von Unternehmensteilen, eine
Kapitalmaßnahme (Aktienplatzierung oder Emission einer
Unternehmensanleihe), oder ähnliches.

Wenn der Analyst bei der Präsentation gut aufpasst,
anschließend seine Zahlenmodelle für das Unternehmen und die
Branche genau analysiert, dann kann er, wenn er pfiffig ist,
von selbst darauf kommen, was das Unternehmen wohl im Schilde
führt. Ich will mich hier gar nicht darüber auslassen, warum
häufig auch die weniger intelligenten Analysten zu den
richtigen Schlussfolgerungen kommen.

Nach der Roadshow arbeiten die Analysten die neuen Erkenntnisse
in ihre Unternehmenseinschätzung ein und kommen häufig zu einem
neuen Urteil. Im Fall von Aixtron hagelte es nach der Roadshow
Kauf-Empfehlungen. In den folgenden 6 Wochen stieg der Kurs von
12 auf 22,50 Euro. Die 274 Mio. Euro Jahresumsatz von Aixtron
wurden zuletzt an der Börse mit 2 Mrd. Euro
Marktkapitalisierung belegt. Ein stolzer Wert. Wie lange muss
das Unternehmen arbeiten, um aus 274 Mio. Euro Umsatz
ausreichend Gewinn zu generieren, um eine Marktbewertung von 2
Mrd. Euro zur rechtfertigen? Selbst wenn ich ein Wachstum von
50% p.a. zugrunde läge, würden viele Jahre ins Land gehen. Und
langfristig orientierte Investoren schauen selten länger als
drei Jahre in die Zukunft. Wer auf einen länger anhaltenden
Unternehmenserfolg spekuliert, ist genau das: Ein Spekulant.

Wie also konnte der Kurs so hoch steigen?

Nun, entsprechend der sich aufhellenden Aussichten haben die
Analysten ihre Erwartungen für Aixtron angehoben. Daraus
errechneten sie immer neue Kursziele. Die Deutsche Bank
beispielsweise begann schon am 28. Juli: Der Analyst hob sein
Kursziel für Aixtron von 5,75 auf 10 Euro. Bereits am 12.
August, also nur zwei Wochen später, folge der nächste Schritt
von 10 auf 16,50 Euro. Zwei große Schritte, aber aufgrund der
zyklischen Natur sowie der guten Branchenentwicklung des
Geschäfts durchaus nachvollziehbar.

Nach der Roadshow bestätigt der Analyst am 16. September sein
Kursziel von 16,50 Euro. Für ihn gab es offensichtlich keine
neuen Erkenntnisse.

Am 13. Oktober wurde der Analyst plötzlich noch aggressiver:
Sein Kursziel von 16,50 Euro war fast erreicht. Er müsste
aufgrund des fehlenden Kurspotentials für die Aktie nun seine
Empfehlung von „Kaufen“ auf „Halten“ zurücknehmen, denn die
Aktie ist ja seiner eigenen Analyse zufolge inzwischen fair
bewertet.

Alternativ, wenn er das Post-it „Kaufen“ auf Aixtron
beibehalten wollte, müsste er das Kursziel nach oben setzen.
Der Deutsche Bank Analyst entschied sich für letzteres und
setzte das Kursziel von 16,50 auf 26 Euro nach oben. Eine
Anhebung um 57%! Da muss sich ja etwas ganz Dramatisches in der
Branche oder beim Unternehmen abgespielt haben, um eine solche
Anhebung zu rechtfertigen. Ich habe also die Meldungen
durchforstet.

Um es kurz zu machen: Weder in der Branche, noch seitens
Aixtron gab es in diesem Zeitraum dramatische Ereignisse, die
meiner Ansicht nach zu einer plötzlich so viel besseren
geschäftlichen Aussicht führen könnten. Vielleicht habe ich
etwas übersehen, doch ich kann die offizielle Begründung des
Analysten nicht nachvollziehen: Er habe die Ergebnisschätzung
angehoben und in Folge dessen auch das Kursziel. Das würde dann
heißen, dass er die Fakten, die wenige Wochen zuvor bereits
bekannt waren, damals falsch eingeschätzt hatte.

Nun, diese Woche meldete Aixtron sein Quartalsergebnis und
tatsächlich: Der Analyst hatte Recht. Das Ergebnis lag weit
über den Erwartungen der meisten anderen Analysten. Der
Auftragseingang war um 125% angestiegen. Die Gewinnmarge (EBIT)
solle von 12 auf 18% steigen. Und das EBIT werde im laufenden
Jahr von 32,5 auf 50 Mio. Euro ansteigen. Aixtron gehört zu den
wenigen Unternehmen, die nicht nur einen Gewinnanstieg
vermelden konnten, sondern auch einen Umsatzanstieg. Und
darüber hinaus konnte noch eine Prognoseanhebung vorgenommen
werden. Super.

Doch es folgte noch der Wermutstropfen: Aixtron wird eine
Kapitalerhöhung durchführen, mit der rund 160 Mio. Euro
eingenommen werden sollen. Eine Kapitalerhöhung, also die
Ausgabe neuer Aktien, wirkt sich für die bestehenden Aktionäre
in der Regel negativ auf das bestehende Geschäftsvolumen aus.
Nur wenn das zusätzliche Kapital für zusätzliches Wachstum
genutzt werden kann, ist eine Kapitalerhöhung vorteilhaft für
die Aktionäre. Denn sie müssen ja künftig die Gewinne mit mehr
Aktionären teilen.

Der Kurs von Aixtron war schon im Vorfeld des
Quartalsergebnisses unter 20 Euro gerutscht und so wundert es
nun auch kaum, dass die Kapitalerhöhung zum Kurs von 17,75 Euro
durchgeführt wird. Ein Kurs, der knapp unter dem aktuellen
Kursniveau liegt und somit für institutionelle Investoren
attraktiv aussieht. Und nun raten Sie mal, wer die
Kapitalerhöhung für Aixtron durchführt: Die Deutsche Bank
zusammen mit JP Morgan.

Dann schauen wir doch einmal, wie der Analyst von JP Morgan zu
Aixtron steht: JP Morgan Analyst begann am 29. Juli mit einer
„neutralen“ Einstufung einer Kurszielanhebung von 6 auf 9,50
Euro. Nach der Roadshow setzte er Aixtron auf „Kaufen“ und
erhöhte das Kursziel auf 20 Euro. Gestern, pünktlich zur
Kapitalerhöhung, legte auch er nochmals nach: er hob das Ziel
auf 25 Euro und stellte sogar eine weitere Anhebung in
Aussicht. Na, das dürfte nach dem Geschmack von Aixtron sein.

Es gibt sogenannte „Chinese Walls“ zwischen der Abteilung der
Analysten und des Corporate Finance bei den Banken wie der
Deutschen Bank und JP Morgan. Die Analysten dürfen also keine
fachlichen Informationen mit den Kollegen der Abteilung
austauschen, die Kapitalerhöhungen durchführen. Diese Chinese
Walls sind inzwischen sehr effektiv aber dennoch frage ich
mich, wieso gerade die beiden Häuser, die letztlich den Auftrag
für die Kapitalerhöhung erhielten, die aggressivsten Kursziele
ausgeben.

Komisch finde ich, dass Analsten der beiden Banken
veröffentlichen, dass der Kurs bei 25/26 Euro stehen sollte.
Doch dann muss sich Aixtron mit 17,75 Euro je neuer Aktie
zufrieden geben. Wie kann es innerhalb eines Hauses zu so
großen Bewertungsunterschieden kommen? Warum hat da der
Ansprechpartner von Corporate Finance Aixtron nicht geraten,
zumindest auf Kurse über 22 Euro zu warten, um die Aktien zu
platzieren? Für wen arbeitet die Bank: Für den Großinvestor
oder für Aixtron? Müssen der Analyst und der Corporate Finance
Mitarbeiter miteinander verhandeln, um den besten Preis für den
Großinvestor bzw. für Aixtron zu bestimmen?

Ich nehme an, dass bei den Banken heute alles streng
gesetzeskonform läuft. Doch ich sehe darin, dass in einem Haus
Analysten und Corporate Finance Kunden bedienen, die
unterschiedliche Interessen verfolgen, ein Problem, das auch
mit Chinese Walls nicht gelöst werden kann. Letztlich wird die
Bank immer den Preis nehmen, zu dem sich der Deal im eigenen
Haus durchführen lässt. Kleine Banken haben in diesem
Finanzsystem keine Chance, eigene Aufträge zu bekommen.

Soweit ein paar Gedanken zu Aixtron. Wir haben im Rahmen des
Tradingmonats Aixtron geshortet, weil ich die ungestümen
Kursgewinne bei Aixtron irgendwann nicht mehr nachvollziehen
konnte. Kurz vor dem Einbruch der Aktie wurde ich jedoch leider
schwach: Der Wettbewerber Veeco hatte herausragende Zahlen
vermeldet und ich empfahl, die Position mit geringem Gewinn
aufzulösen. Direkt im Anschluss jedoch brach der Kurs bis auf
17,61 Euro ein.

Dennoch halte ich den frühzeitigen Ausstieg für richtig, denn
ich möchte mich nicht mit JP Morgan und der Deutschen Bank
anlegen: Wenn diese beiden Banken meinen würden, die Aktie
müsse eigentlich bei 30 Euro stehen, dann könnte ich mir
vorstellen, dass die Aktie übermorgen dort steht – egal wie
sich die Fundamentaldaten entwickeln.

Mein Fazit aus dieser Geschichte: Für eine Langfristanlage ist
Aixtron in meinen Augen nicht geeignet. Ein 80er KGV 2009e ist
mir zu hoch, das erinnert mich an die Blütezeiten des
Internetbooms. Derzeit wird eine Gewinnverdopplung für das
kommende Jahr erwartet. Doch auf einem so hohen
Bewertungsniveau darf nichts mehr schief gehen. Falls wir im
November eine Verschnaufpause an der Börse erleben, dürfte
Aixtron zu den Aktien gehören, die am kräftigsten Federn
lassen. Doch heute steht der Kurs schon wieder bei 20,70 Euro
und ich würde erst einmal abwarten, bis die
Geschäftsentwicklung der Kursentwicklung folgen kann.

WOCHENENTWICKLUNG

Während der Dow Jones gerade einmal insgesamt 3,5% von seinem
Hoch abgegeben hat, notiert der DAX bereits über 7% unter
seinen jüngsten Höchstkursen. Wie immer kann ich in den USA die
Bilanzkosmetik dafür verantwortlich machen, das würde dazu
führen, dass der Dow Jones Anfang November um so stärker fällt
bzw. der DAX um so stärker steigt.

Oder aber wir schauen uns den US-Dollar Wechselkurs an: Der US-
Dollar wird gegenüber dem Euro immer schwächer. Damit sinken
die Chancen der Europäer, ihre Produkte zu wettbewerbsfähigen
Preisen gegenüber den Amerikanern auf den Weltmärkten
anzubieten. Die Folge wird sein, dass die Amis Marktanteile
gewinnen, die Europäer verlieren.

Doch auch ein Blick auf den Ölpreis gibt wenig Aufschluss: Der
Ölpreis ist heute wieder unter 80 USD/Fass gefallen (Preise in
der Tabelle sind von gestern Abend), so dass die Aktien der
Ölkonzerne wieder sinken. Daraus interpretiert dann der Markt,
dass der Aufschwung in Frage gestellt wird, es wird ja
schließlich kein Öl nachgefragt, und schon gehen ganze Branchen
in den Keller.

Grundsätzlich ist die Aussicht für uns Deutsche derzeit besser:
Wir haben Osteuropa als Wachstumsmarkt vor der Haustür, wir
sind als Exportnation bereits gut in Asien vertreten. Und in
der jüngsten Krise haben wir über Kurzarbeit zwar viel Geld
sparen können, jedoch die Mitarbeiter in unserem Zugriff
belassen. Dadurch können deutsche Unternehmen die Kapazität nun
schnell wieder hochfahren.

Das war der Grund, warum der DAX um 66%, der Dow Jones aber nur
um 50% anstiegen. Und da der DAX stärker angestiegen war, kann
er nun auch stärker korrigieren. Schauen wir uns die
Wochenperformance einmal an:

INDIZES 29.10.09

Dow Jones 9.963 -1,2%
DAX 5.587 -3,1%
Nikkei 10.034 -2,4%
Euro/US-Dollar 1,484 -1,4%
Euro/Yen 134,98 -2,0%
10-Jahre-US-Anleihe 3,50% 0,1
Umlaufrendite Dt 3,04% -0,1
Feinunze Gold USD $1.045,55 -1,5%
Fass Crude Öl USD $80,61 -1,7%
Baltic Dry Shipping I 3.013 0,4%

Komischerweise ging der Ausverkauf in Deutschland einher mit
einem Anstieg des Pessimismus. Insbesondere die Anleger, die in
den vergangenen Bullen- und Bärenphasen immer recht gut lagen,
sind nun plötzlich sehr pessimistisch geworden, wie Sie der
folgenden Erhebung entnehmen können:

SENTIMENTDATEN

ANALYSTEN:
Empfehlungen (Anzahl Empfehlungen):

Kaufen / Verkaufen
09.-16. Okt (154): 83% / 17%
16.-23. Okt (172): 73% / 27%
23.-30. Okt (145): 72% / 28%

ANALYSTEN KAUF
Deutsche Bank, Bayer, Anglo American

ANALYSTEN VERKAUF
Telecom Italia, Volvo, Banco Bilbao

PRIVATANLEGER
Aktuell 55% Bullen (-12%!, 71 Stimmen)
Durchschnittlich erwarteter DAX-Endstand für heute: 5.702

PRIVATANLEGER KAUF
Allianz, Citigroup

PRIVATANLEGER VERKAUF
Excada, Schmack Biogas, Aixtron

Die Sentiment-Daten wurden in Zusammenarbeit mit Sharewise
erstellt: http://www.sharewise.com?heibel

Ich habe im Ausblick näher untersucht, ob wir es wieder einmal
mit einem 3-5% Korrektürchen zu tun haben, oder ob wir uns auf
eine längere Korrektur einstellen müssen. Für den Fall einer
längeren Korrektur habe ich Ihnen eine Aktie vorgestellt, mit
der Sie diese Marktphase gut durchstehen sollten.

==============================================================
04. KOLUMNEN-TICKER: FIRST SOLAR MIT RÜCKLÄUFIGEN MARGEN
==============================================================

17% lautet das Minus der Aktien von First Solar am gestrigen
Donnerstag. Dabei lag der Gewinn um 50% über dem Gewinn von vor
einem Jahr. Das hatten selbst die optimistischsten Analysten
nicht erwartet.

Aber Anleger haben sich in diesem Fall nicht von der irre
führenden Schlagzeile leiten lassen, sie haben in die Details
des Quartalsergebnisses geschaut. Und da war zu sehen, dass der
Umsatz mit 480 Mio. USD um 47 Mio. USD hinter den Erwartung der
Analysten zurück blieb. Aber auch hierfür gab es noch eine
Erklärung: 58 Mio. USD Umsatz aus einem Projekt konnten wider
Erwarten noch nicht in das 3. Quartal gebucht werden, weil ein
Meilenstein nicht erreicht wurde. Dieser Betrag dürfte aber
somit im 4. Quartal eingebucht werden.

Doch das eigentlich Dramatische war die Entwicklung der
Gewinnmarge. Hatte First Solar im Vorquartal noch 56,7%
Gewinnmarge verbucht, so ist diese nun auf 50,9% gefallen.
Schlimmer noch, denn für das laufende Quartal solle diese
Gewinnmarge weiter auf 41-44% fallen, so das Unternehmen.

Das wollen wir Anleger nicht. Wir wollen steigende
Wachstumsraten und steigende Gewinnmargen. Die rückläufige
Gewinnmarge ist ein Zeichen des härteren Wettbewerbs, dem sich
First Solar zunehmend ausgesetzt fühlt.

Im Bereich der Solarzellen befinden wir uns in der
Eroberungsphase: Die Hersteller von Solarzellen müssen soviel
Marktanteile erobern, wie möglich. Wenn nötig, wird dafür die
Gewinnmarge angeknabbert, denn wichtiger als der kurzfristige
Gewinn ist der langfristige Marktanteil. So variiert First
Solar je nach Wettbewerb und eigener Kapazität offensichtlich
den Preis seiner Solarzellen und hält den Wettbewerb mit
günstigen Preisen im Zaum (unter Inkaufnahme eines geringeren
Gewinns).

Doch, wenn dies tatsächlich kalkuliert ist, um Marktanteile zu
gewinnen, warum blieb dann der Umsatz hinter den Erwartungen
zurück? Genau an diesem Punkt sind die Anleger offensichtlich
der Argumentation des Managements nicht mehr gefolgt und haben
die Aktien verkauft. 17% Minus an einem Tag ist ein deutliches
Zeichen: Wenn ihr schon die Gewinnmarge dran gebt, dann bitte
zugunsten des Umsatzes. Doch der rückläufige Umsatz ist vor
diesem Hintergrund nicht mehr zu entschuldigen ... zumindest
nicht bei einem Wachstumsunternehmen wie First Solar.

Ich schaue den Turbulenzen auf dem Solarmarkt gelassen zu, denn
ich hatte ja den harten Wettbewerb bei den
Solarzellenherstellern in meiner Solarstudie beschrieben. Der
Wettbewerb wird härter und die Hersteller müssen sich mit neuen
Fabriken und Maschinen für den Wettbewerb rüsten. Wir befinden
uns nicht in einer Phase, in der die bestehenden Maschinen
gewartet und länger am Laufen gelassen werden, sondern es wird
investiert, um mit günstigeren Stückpreisen kalkulieren zu
können. Und davon profitieren die Anlagenbauer.

Dennoch ist auch unser Favorit gemeinsam mit First Solar in den
Keller geprügelt worden. Eine erneute Kaufgelegenheit für
diejenigen, die noch nicht drin sind. Wer schon investiert ist,
der kann diesen Rücksetzer gelassen aussitzen. Mehr dazu im
Kapitel 06.

===============================================================
05. LESERFRAGE: VOR- & NACHTEILE VON ETFs
===============================================================

Ihre Fragen schicken Sie bitte an leserfragen/at/heibel-
ticker/./de. Ich werde künftig nur noch eine Leserfrage
veröffentlichen. Den Rest beantworte ich direkt. Bitte fragen
Sie mich nur zu Unternehmen mit einem Marktwert von mindestens
100 Mio. Euro bzw. USD.

=================

FRAGE:

Guten Tag Herr Heibel,

was Sie vermutlich anmerken wollen zu den ETFs, ist, dass
gewisse Anbieter wie ETFsecurities den Eindruck erwecken, dass
sie ETFs verkaufen. Das macht dieser Anbieter aber zum großen
Teil nicht, sondern das sind ETCs und ähnliches und die sind
meistens kein Sondervermögen. Auf Fragen wird oft ausweichend
geantwortet...

Wo bei ETFs Derivate in's Spiel kommen, kann ich Ihnen im
folgenden Punkt nennen: Gewisse ETF Portfolios werden durch
Swaps gebildet.

"Der Swap wird als Vertrag zwischen dem Sondervermögen und
einem Kontrahenten (meist eine Investmentbank) geschlossen und
darf bis zu 10% des Wertes des Fonds ausmachen. Im Falle der
Insolvenz des Swapkontrahenten kann das Sondervermögen also
einen Verlust von bis zu 10% erleiden."

z.B. eine Quelle:
http://geldundleben.wordpress.com/2009/03/27/swap-basierte-
etfs-welche-geschaefte-laufen-da-im-verborgenen/

Zusätzlich kann es sein, dass bei einem Konkurs sich Ihr ETF
z.B. auf einen größeren Europäischen Index --> die Werte z.B.
zum Teil in japanischen Aktien angelegt sind und Sie dann im
schlimmsten Fall auf ausländischen Werten sitzen. Aber immerhin
der Grundwert wird so erhalten, da Sondervermögen.

Zu Xetra Gold kann ich nix sagen, nur dürfte es nicht sein,
dass Angaben im Prospekt nicht stimmen. Ich würde da rechtlich
gegen den Anbieter vorgehen, falls Ihre Nachteile gravierend
sind. Es kann natürlich sein, dass vergessen wurde, den
Prospekt anzupassen und sich unterdessen die gesetzliche
Grundlage geändert hat. In der Schweiz gibt es eine ziemlich
starke Prospekt-Haftung, das könnte in Deutschland ähnlich
sein.

Soweit ich weiß, gibt es in der Schweiz keine steuerlichen
Nachteile bei Gold ETFs wie diesen der ZKB oder anderen.
Zusätzlich gibt es nun auch währungsgesicherte Gold ETFs
(Kosten für die Währungsabsicherung beachten), die sich lohnen
könnten falls der $ noch weiter fällt.

Ich weiss nicht, ob ich noch weiter bullish sein soll auf Gold,
denn falls der $ wieder kommt, könnte Gold schnell wieder auf
900 fallen.

Freundliche Grüsse, Johannes aus Meierskappel

ANTWORT:

Besten Dank für die Infos, sie sind sehr hilfreich,
insbesondere das mit der 10%-Grenze zu Swaps.

Gold & USD: Ich denke, selbst wenn der US-Dollar nun anzieht,
wird das Gold nicht in gleichem Maße fallen. Vielmehr erwarte
ich einen Anstieg des Goldpreises nun auch in Euro.

Ich würde auf eine teure Währungsabsicherung nach wie vor
verzichten, denn schließlich müssen Sie Ihre Rente ja nicht in
US-Dollar bestreiten sondern in Gold. Und Gold als Absicherung
gegenüber dem Euro (oder in Ihrem Fall gegenüber dem Franken)
ist doch schon Absicherung genug. Was hat da der US-Dollar zu
suchen?

2. FRAGE:

Sehr geehrter Herr Heibel,

selbstverständlich ist der Heibel-Ticker ohne ein
funktionierendes Musterdepot für mich auch in Zukunft
interessant genug und ich habe volles Verständnis dafür, dass
dessen Qualität nicht an der Performance des Musterdepots
gemessen werden kann.

Zwar hätte ich ganz gerne mitgenommen, wenn so Ihre
Empfehlungen und Tipps noch etwas transparenter geworden wären.
Aber ich kann auch gut damit leben, wenn es so bleibt, wie es
ist. Sie würden mich auch nicht als Leser verlieren, wenn die
Performance des Musterdepots nicht ganz so toll ist, was ich
übrigens auch vermute.

Dagegen sind mir die BRIC sehr viel wichtiger als Asian Bamboo,
schließlich hat dieser Bereich in diesem Jahr eine
hervorragende Performance und es sieht so aus, als ob diese
Länder auch besser aus der Krise heraus kommen, als die
Industrieländer. Selbstverständlich habe ich dafür Verständnis,
dass Sie sich auf die Analyse von Aktien beschränken;
schließlich können Sie nicht alles machen.

Auch mir wären in den Entwicklungsländern von Ihnen analysierte
Aktien am liebsten. Da es diese aber noch nicht gibt, bleibt
doch Ihren Lesern gar nichts anderes übrig, als Fonds oder ETFs
zu kaufen, wenn sie diese Chancen nicht verschlafen wollen. Und
da die Fondsmanager teuer sind und es meistens doch nicht
schaffen, den Index zu schlagen, sind ETFs, die
den Index dieser Länder abbilden, eine preiswerte Alternative.
Hier würde ich Sie doch nochmals gerne fragen - und dies ist
auch meine einzige Frage - wo Sie hier besondere Risiken sehen.
Im Gegensatz zu ETFs auf Rohstoffe, werden hier doch Aktien als
Sondervermögen hinterlegt und die Deutsche Bank ist als
Emmitent der dbxtrackers auch nicht so schlecht.

Natürlich sehe auch ich in den Entwicklungsländern besondere
Risiken, aber eher im politischen Bereich. Indien liegt neben
der Atommacht Pakistan, wo die Al Kaida und die Taliban höchst
aktiv sind. Und was ist in China, wenn die Millionen von
Wanderarbeitern vielleicht mal einen Aufstand gegen die
Administration wagen, weil deren soziale Verhältnisse immer
unerträglicher werden?

Im Vergleich dazu kann ich bei den EFTs kein Haar in der Suppe
finden. Und die Summe, die ich in die BRICs investiere, kann
ich schließlich nicht auf eine Aktie wie Asian Bamboo setzen,
auch wenn diese Aktie noch so gut analysiert ist.

Bitte sehen Sie mir nach, sehr geehrter Herr Heibel, wenn ich
Sie nochmals mit der Leserfrage BRIC bemühe, aber hier habe ich
hinsichtlich der besonderen ETF-Risiken noch keinen Durchblick.

Mit freundlichen Grüßen, Friedemann aus Baunatal

ANTWORT:

Ich werde fast bombardiert mit Kritik an meiner Kritik der
ETFs, daher werde ich wohl eine detaillierte Ausarbeitung dazu
erstellen. Nur leider schaffe ich das erst im Dezember, ich
muss also so lange noch um Geduld bitten. Soviel vorab:
Indexbasierte ETFs sind in meinen Augen ein Instrument, das die
Anleger zu leichtfertigen Entscheidungen verlockt. Und wenn
dann weltweit plötzlich ein Run auf bspw. Brasilien-ETFs
startet, dann deckt sich der ETF mit den entsprechenden Aktien
ein und der Index steigt sehr schnell allein durch die
Indexkäufe. Wenn die Wirtschaft dann schwächelt, ziehen alle
ihr Geld aus den entsprechenden ETFs ab und verstärken so den
Abwärtstrend. Die Bewegungen der Aktien und ganzer Märkte haben
so nur noch einen Bezug zur Stimmung, immer weniger zu den
Fundamentaldaten. Aus diesem Grund hat auch niemand (außer mir
:-) gewusst, warum man in diesem März kaufen sollte. "

[Popeye82]

Syngas Has Ambitious Plans For Its Coal-To-Liquids Projects In South Australia - Power Alternatives - Oct 27, 2009

- By Alastair Ford -
www.poweralternatives.com/nc/power_stories/display_news/arti…

"Syngas’s Merrill Gray cuts an interesting figure sitting across from Minesite in a Cheapside Starbucks. She’s just delivered the news that her company, Syngas, currently capitalized on the ASX at around A$10 million, will need of the order of US$2.26 billion to get its coal projects in South Australia into production. That’s some funding gap she’s going to have to cover, and some disparity in valuation, but she doesn’t break her stride.

The idea is simple. The 558 million tonnes of coal on Syngas’s Clinton licence doesn’t quite cut it in quality terms as far as selling it for use in a conventional power station because of its high salt content, and low calorific content. But all is not lost, because the technology exists that will allow Syngas’s coal to be converted into a liquid fuel predominantly comprised of a high quality diesel. The plan is to deploy that technology on Clinton, and on other of Syngas’s lookalike properties in the region, and to produce 5.2 million barrels per year of the liquid fuel at an operating cost of around US$30 per barrel of oil equivalent.

And in case there’s any temptation out there to consider that a number plucked out of the air, a pre-feasibility study conducted under the auspices, among others, of SRK, showed that production at US$33 per barrel was eminently possible. Merrill’s simply shaved a couple of dollars off that number to allow for efficiency savings she’s found since that report came out. With oil currently at just under US$80 per barrel at the moment, there’s a fat margin to be made once you’ve found your initial US$2.26 billion.

Clearly, though, there’s a long way to go. Merrill’s been on a little bit of a globetrotting fact-finding mission recently, partly with the aim of gauging interest, and partly with the aim of soliciting feedback on the perceived viability of Syngas’s plans. The response, she says, has been upbeat. “The fundamentals in crude oil are changing and we’re pretty confident that over time we’ll see an increase in the overall average price”, she says. Added to that, she continues, “We’re particularly confident about high premium diesel. It costs less to build a diesel motor, which burns more efficiently and produces less CO2”. So, the wider economic context is working in Syngas’s favour and allowing it to gain a hearing. Plans to add biomass to the coal to create a blended fuel product add to the company’s green credentials, and may indeed bring in interest from those seeking carbon credits or some such future equivalent. At the recent World Gasification Conference, held in Colorado, 750 people met to swap ideas and contacts, and Merrill was in the thick of the action.

Now it’s back to Australia to bed down the ongoing A$10 million fundraising which will take the company a long way through the feasibility stage. The money’s not yet in, so anyone wavering over an investment decision might be interested to hear that the company is currently also considering plans to develop a smaller-scale intermediate project to bridge the gap between now and the delivery of the required US$2.26 billion, and to demonstrate to the market that Syngas is capable of developing such projects. It’s also not necessarily part of the company’s current plans to run all the way with this asset into production, and it certainly won’t be doing it alone. “We’ve got a few exit points”, says Merrill. “We want to get to bankable feasibility, at which point we will be attractive to potential funders from an off-take perspective.”

It’ll be interesting to see how much interest the current fundraising actually pulls in, but it’s worth noting in the meantime that this isn’t actually a new technology that’s being deployed here. Back in the days of South African economic isolation Sasol, the South African oil champion, developed a considerable capability in this space. Interesting to note, too, that despite the hefty price tag, Syngas’s mooted projects are currently too small to for Sasol to be able to take a real interest. So we’re not off the scale here. As the company hits development milestones there’ll be further fundraisings, and so the market valuation, in theory will grow. That’s the idea at least. Watch this space to see what happens next. "

[Popeye82]

US Fight To Toughen Commodity Trading Rules - Power Alternatives - Oct 12, 2009

- By Sally White -

- A battle over derivatives legislation now going on in Congress is a test for the Obama administration’s efforts to tighten financial regulation. Following soaring prices for alternative energy sources like grains, among other commodities, draft legislation is now underway to prevent a repeat of last year’s crises. However, the first try at a bill, which is due to be voted on this week, came under heavy criticism as having too many loopholes and being too friendly to business. The draft, the work of the Agriculture and the Financial Services committees, allows for no change in how standardized over-the-counter derivatives are traded as long as they are reported to regulators. ...-
www.poweralternatives.com/nc/power_stories/display_news/arti…

[Popeye82]

Zenergy Power Sees Growing Interest In Its Energy-Saving Technology - Power Alternatives - Sep 30, 2009

- Rue Swabey -
www.poweralternatives.com/nc/power_stories/display_news/arti…

"Zenergy Power is a superconductor energy technology company quoted on London’s AIM. It develops and manufactures commercial applications for high-temperature superconductive (HTS) materials that transmit electricity with little or no energy loss. One of the products Zenergy has developed - an induction heater - has now been in operation in commercial premises for over a year. Another two heaters are on order and client inquiries are picking up. HTS technology can give significant cost savings in renewable power generation by allowing the use of smaller, lighter and cheaper generators compared with copper-based technology and Zenergy is close to taking this commercial. Another application is the fault current limiter (FCL) which protects electricity grids against electrical surges that lead to blackouts.

In March Zenergy completed the installation of its first grid protection device or FCL in the electricity grid of Southern Californian Edison utility company. The trial has been successful and the FCL will stay in place for the time being. Separately Zenergy is working with Consolidated Edison of New York to assess its grid protection needs. In September, American Electric Power (AEP), which owns the largest electricity transmission system in the US, announced a collaborative agreement with Zenergy to install and operate a transmission-voltage FCL. The agreement provides for the installation of a FCL at a substation in Ohio in 2011. It will be 50 per cent funded by a US Department of Energy (DOE) US$11m grant which Zenergy was awarded in June 2007 with the objective of developing a high-voltage FCL product. These relationships have a good chance of leading to commercial orders in what is expected to a sizable market. Consensus estimates put the global annual FCL market at US$5 billion.

Sales of Zenergy’s low-energy, high productivity induction heaters have been slow given the global economic slowdown but in recent weeks management has seen increased customer inquiries. The company’s first commercial order, which has was delivered in July 2008, has exceeded the performance expectations of both Zenergy and the customer, Weseralu, with energy savings of 50 per cent and productivity improvements of 25 per cent. Weseralu is allowing Zenergy to use it as a showcase and a large number of potential customers have visited the plant.

In July Zenergy took an order for an induction heater from the Sapa Group, the world’s largest aluminium extruder for delivery in summer 2010. A third heater, ordered by Europe’s second largest copper company, is slated for delivery in December 2009. These orders represent a strong endorsement of the technology and suggest that further orders will be forthcoming. Zenergy has recently completed a manufacturing facility in Germany with capacity for 100 heaters per annum and has invested in a detailed strategic market study of the induction heater market which is estimated to be worth in excess of €1 billion annually.

Zenergy is manufacturing core components for what is expected to be the world’s fist superconductor electricity generator. It has delivered HTS coils to its development partner Converteam which is building a 1.7MW hydro power generator to be fitted at E.ON’s hydro power station in early 2010. This is expected to result in a 36 per cent increase in generating capacity compared with the conventional generator it is replacing. This improvement has sparked interest among other utilities and RWE has commissioned a superconductor hydropower evaluation.

Zenergy reported interim numbers to June 2009 in mid-September. The top line came in below brokers’ forecasts at €0.2 million reflecting the unpredictable nature of revenues at an early stage of commercial expansion. But institutional shareholders appear comfortable with Zenergy’s potential and when the company went to market in April it raised a net £9.1 million at 120p a share in an oversubscribed issue. The proceeds should meet working capital and capital expenditure requirements to the end of 2010 by which time the order book should have picked up allowing the company to move towards becoming cash flow positive. "

[Popeye82]

China to expand coal vision - The Australian - Oct 30, 2009
www.theaustralian.news.com.au/story/0,25197,26279237-2703,00…
www.uq.edu.au/news/index.html?article=19963
www.eait.uq.edu.au/docs/Publications/Coal and the Commonweal…
www.eait.uq.edu.au/docs/Publications/Coal and the Commonweal…

"CHINA is likely to turn to other markets for thermal coal if the cost and availability of Australia's exports are affected by carbon taxes and environmental concerns.

A study titled Coal and the Commonwealth, released yesterday by the University of Queensland, says China, an increasing importer of thermal coal, will probably look to Indonesia and Russia for supply if Australia's exports are affected.

"However, the ability of these countries to sustain supply to China is questionable," the report says.

"In the event of volatility in supply, China could revert to exploiting reserves of inferior-quality coals located in its central and southern provinces. It is therefore in the world's best interests to continue to make low-emission Australian coal available at competitive world prices."

The report also outlines the emerging new technologies for coal and the rise of the coal seam gas industry.

The report, edited by professors Peter Knights and Michael Hood, says proven, probable and possible reserves of CSG now exceed 800 million tonnes - larger than the massive liquefied natural gas reserves off the north and west coasts of Australia, which are driving significant projects for Australia.

"With over $18 billion of projects in the planning, the CSG industry has the potential to be the next great industry for Australia," the report says.

The concept of a "cleaner coal' is shifting in Australia towards low-emission coal technologies, the report says.

But an audit by the Rudd government's own Global Carbon Capture and Storage Institute has found that clean-coal power stations are not viable until the carbon price reaches a minimum of $60 a tonne - a level the Australian government does not anticipate until almost 2030.

The Australian reported yesterday that the new $100 million-a-year institute found the business case for clean-coal technology could only work if governments helped build the first commercial-size carbon capture and storage power plants on a "field of dreams", or on a "build it and they will come" basis.

Professor Hood said for the coal industry to move forward, the new technologies were absolutely vital.

He added that the CCS programs would be implemented, it was just a timing issue and that coal-to-liquids projects were already being done on the surface.

Resources Minister Martin Ferguson recently said as the world's largest exporter of coal and a nation which derived around 80 per cent of its electricity from coal, it was vital that Australia made technological progress on CCS - and soon. "

[Popeye82]

Northern Energy Corporation - Exploration Target of 50 to 70 Mt for Maryborough Project - Sep 23, 2009
http://theaustralian.aegis.com.au/Data/Announcements/2009/09…

[Popeye82]

China steps up climate diplomacy - Reuters, BEIJING - Thu Oct 29, 2009

- By Chris Buckley - Analysis -
www.reuters.com/article/GCA-BusinessofGreen/idUSTRE59S0J8200…

"BEIJING (Reuters) - China's busy climate change diplomacy has become increasingly feverish weeks before crucial talks that could forge a new pact to fight global warming, or end in rancor that could rebound onto the world's biggest emitter.

President Hu Jintao told President Barack Obama last week that China wants a successful outcome in Copenhagen when the world gathers from December 7 to wrangle over the proposed new climate pact, and the topic is sure to feature when Obama visits Beijing in mid-November.

Recent weeks have brought a flurry of meetings between China and other big hitters in the negotiations, including India. Global warming will feature too at a China-European Union summit late in November.

But Chinese diplomats and advisers doing footwork for the negotiations have echoed growing international gloom, warning the Copenhagen talks could end with a feeble agreement that evades key issues or even fails to reach a deal.

"The real negotiations will be after Copenhagen," Yi Xianliang, a Chinese Foreign Ministry official involved in the climate talks told a meeting in Beijing last week. "Copenhagen will be a starting point, not an ending point."

Hopes negotiators will agree on a firm goal to halve worldwide greenhouse gas emissions by 2050 compared to recent levels appear dim, said Pan Jiahua, an expert on climate change policy at the Chinese Academy of Social Sciences.

As a coal-dependent behemoth with output of greenhouse gases likely to rise for many years yet, China could bear much of the brunt of any backlash if the talks fail to produce a solid deal. That could spill over into greater tensions over trade.

"With China such a big emitter, it wants to avoid becoming the scapegoat if negotiations are unsuccessful or even fall apart," said Wang Ke, who teaches environmental policy at Renmin University in Beijing.

"We feel it's already game-over. Copenhagen will be a rough compromise," he said. "China wants to take the initiative so it avoids being blamed if that's called a failure."

China's emissions of carbon dioxide, the main greenhouse gas generated by human activity, reached 6.8 billion tonnes in 2008, a rise of 178 percent over levels in 1990, according to the IWR, a German energy institute. U.S. emissions rose 17 percent over this period to 6.4 billion tonnes.


A MATTER OF TRUST

China is often denounced by Western critics as a stumbling block to agreement, because it argues developing countries should not submit to binding international caps on emissions while they grow out of poverty.

In turn, China and other developing countries have said the rich countries have done far too little in vowing to cut their own greenhouse gas output, and in offering technology and money to the Third World to help cope with global warming.

The weeks before Copenhagen appear unlikely to bring decisive progress in settling those and related disputes over commitments and verification.

"The likely outcome, we believe, may be to issue a framework political agreement," said Pan, the climate change researcher, who also advises the government.

"The long-term mitigation targets and medium-term goals will require subsequent tough negotiations."

Adding to the sober tone, the U.S. Special Envoy for Climate Change, Todd Stern, Wednesday scuttled expectations Obama's visit to China next month could produce a climate change deal.

But the summit between Hu and Obama may nonetheless help nurture greater trust so governments can reach a workable agreement in Copenhagen, said Deborah Seligsohn, China program director at the World Resources Institute in Beijing.

China's top leaders, including Hu and vice-Premier Li Keqiang, have been determinedly upbeat about success at Copenhagen.

Rifts have narrowed on issues such as establishing a central body to manage the spread of climate-friendly technology and financing poor countries' climate needs, said Seligsohn.

"If they're feeling they can trust each other, then these issues are not that difficult," said Seligsohn, a former U.S. State Department official who worked on environmental issues.

"I think it's a question of whether everybody is feeling optimistic and confident when they walk into the (Copenhagen) meeting."

But Lu Xuedu, a deputy director of China's National Climate Center who is involved in the negotiations, had little doubt hard bargaining lies ahead, before and after Copenhagen.

"In fact, sometimes in the climate negotiations, we don't dare even dash to the toilet, because when you come back in the room things have changed," Lu told reporters last week.

(Additional reporting by Emma Graham-Harrison; Editing by Jerry Norton) "

[Popeye82]

Desert Uranium discovery considered to have plenty of legs; A new discovery that is to be intensely drilled in the next few months has given Manhattan Corporation an uranium system considered to have a strike length of about 25 kilometres - Mineweb, BRISBANE - Oct 29, 2009

- Ross Louthean -
www.mineweb.com/mineweb/view/mineweb/en/page72103?oid=91592&…

"Manhattan Corporation Ltd (ASX: MHC) told the Mining 2009 Mining Convention in Brisbane Thursday that the new Stallion discovery has opened up the potential of the Ponton uranium project - 180 kilometres east of Kalgoorlie -- in the remote far south west of Western Australia.

Manhattan's chief executive Alan Eggers said that about $4 million will be ploughed into a new exploration programme on Stallion and Stallion South which are seen as linking up with the company's Double 8 discovery which surprised the market in mid 2009. Eggers said Double 8 was now ranked as the 22nd largest deposit in Australia and the ninth largest in Western Australia.

Double 8 now has a resource of 10.9 million lb of U308 and Eggers said the immediate quest was to double Ponton resources. The project abuts Energy & Minerals Australia Ltd's (ASX: EME) Mulga Creek project, based on large sedimentary uranium discoveries made decades ago by a Japanese power utility.

Eggers said that the deposits at Ponton would be amenable to in situ leach recovery.

He said Australia held about 40% of world uranium reserves.

The top 48 deposits in Australia contain 3.337 Mt of U308 (7,360 million lbs) at an average grade of 0.8% This was dominated by the contained uranium on BHP Billiton's Olympic Dam mine in South Australia which, if taken out, would see Canada ahead of Australia with 54 deposits for 840,125 Mt (Australia minus Olympic Dam 725,775 Mt).

Next in line was Namibia with 13 deposit for 580,730 Mt but at an average grade of 0.6%.

Eggers, one of the Australian uranium sector's strongest advocates, said it was time for the Queensland Government to lift its ban on uranium mining as it made no sense and deprived the State from becoming a major player, like Western Australia which lifted its ban with a change of Government late last year.

Another presenter at Mining 2009, Greg Hall of Toro Energy Ltd (ASX: ) said it was time the host state woke up and joined the rest of the uranium-prone Australian States in mining uranium.

He told Mineweb that the excuses being put up by the State Government to Queenslanders were looking totally implausible. The last claims he'd heard were that Queensland could not afford to develop uranium because of existing shipping bottlenecks, and that lifting the ban would cause problems for a potential shortage of skilled workers elsewhere in the mining sector. "

[Popeye82]

Firestone says SA coal prefeasibility study nearing completion - Mining Weekly, JOHANNESBURG - Oct 29, 2009

- Esmarie Swanepoel -
www.miningweekly.com/article/firestone-says-sa-coal-prefeasi…

"JOHANNESBURG (miningweekly.com) – JSE- and ASX-listed coal explorer Firestone Energy on Tuesday reported that the prefeasibility study of its joint venture (JV) Waterberg coal project was approaching completion, and that draft reports were currently being reviewed.

Firestone said in a statement that during the quarter ended September, the company’s focus had been on completing the preparations and compilations of supporting documents for the mining right application, as well as the prefeasibility study.

Firestone’s JV partner in the project, Sekoko Coal, has been advised by the municipal authorities that these Waterberg new coal projects were “highly regarded as important future contributors to the local economy” and were a key part of the regional development strategy.

“This very strong local support from the Lephalale Local Municipality and the Waterberg District Municipality is expected to assist in expediting the permitting issues and the mining right application approval.”

Firestone reported that Sekoko Coal had been granted mining approval from the Department of Mineral Resources to start an initial small-scale mining operation from the Waterberg coal project. Permits were also in place to construct a box-cut/small-scale mine and develop a trial open-cut and underground mining operation.

It was planned to start mining operations by beginning of 2010 and would eventually build up to a rate of 60 000 t/m run-of-mine (ROM), which after washing would yield about 30 000 t/m of saleable coal. The small-scale mine would be low cost open-cut mining and mining contractors would be used for the operations.

Firestone stated that it was continuing to work towards securing an off-take sales agreement with State-owned power utility Eskom.

During the quarter under review, the company also received shareholder approval for a milestone transaction acquiring a 2,9-billion ton additional resource. The second JV agreement with Sekoko Coal was over four farms; Smitspan, Hooikraal, Minnasvlakte, and Massenberg.

Under the terms of the JV agreement, Firestone’s wholly JV whereby Lexshell would now earn an initial 30% interest in the properties in consideration by issue new shares to the value of R293-million, as well as a reimbursement of expenses to Sekoko of up to R32,99-million,which has been spent by Sekoko in the exploration and development of the properties.

Following the approval of the bankable feasibility study (BFS) and decision to mine by the management board of the JV, a management fee of R50-million was also to be paid to Sekoko over a seven-year period from the date of commercial production.

Firestone has the opportunity to earn a further 30% interest through spending R50-million to complete a BFS, enabling the establishment of a future commercial mining operation. "

[Popeye82]

CoAL of Africa to buy NuCoal - Mining Weekly, JOHANNESBURG - Oct 29, 2009

- Chanel Pringle -
www.miningweekly.com/article/coal-expands-limpopo-coking-pro…

"JOHANNESBURG (miningweekly.com) – South Africa-focused coal-miner Coal of Africa Limited (CoAL) plans to raise £59,6-million to fund a proposed R650-million acquisition of NuCoal Mining, to accelerate capital expenditure (capex) at its Vele and Makhado projects, and to pursue other smaller acquisitions, it announced on Thursday.

The ASX-, Aim- and JSE-listed coal-miner would place up to 59,8-million new ordinary shares, representing about 14,52% of its existing issued ordinary shares, with institutional investors.

JP Morgan Cazenove would act as the global coordinator and sole book runner, while Evolution Securities would act as joint lead manager and Mirabaud Securities as colead manager for the placing.

The acquisition of NuCoal could add, in total, five existing and future mining operations to CoAL’s portfolio, while there was also potential to realise synergies through blending NuCoal product with product from CoAL’s Mooiplaats project, as well as through transporting NuCoal’s product by using CoAL’s rail and port capacity, the coal-miner highlighted.

NuCoal’s thermal coal assets were situated close to the Mooiplaats mine, with the NuCoal Woestalleen Colliery, which produced 2,5-million tons a year of saleable coal for the domestic and export markets, already having offtake contracts in place.

The thermal coal producer also had two beneficiation plants in South Africa, one that was fully operational and the other, which would start producing again by the fourth quarter of this year.

A further two plants were expected to start producing by next year and another one by 2013.

“The proposed placing and acquisition further underpin CoAL’s track record in building a high-quality midtier thermal and coking coal business. The company already benefits from a sizeable resource base, carefully considered logistics and a high-quality and supportive investor base including its proposed offtake partners,” CoAL MD Simon Farrell said in a statement.

If the acquisition is not successful, the coal-miner would use the proceeds to accelerate the expansion of logistics facilities at the Matola terminal and the Maputo port, for alternative acquisitions and for general working capital.

However, if successful, CoAL would use the remainder of the cash raised to increase its logistics capacity, including the first instalment of the capital required to acquire wagons from Transnet Freight Rail, as well as to accelerate capex at its coking coal projects, in Limpopo province.

The coal-miner announced earlier this week that it was likely to receive mining rights for the Vele coking-coal project, in which it owned an 80% stake, before the end of the year.

Production would start within four months of receiving the required legislative approval, with the first phase expected to deliver output of one-million tons a year. This would increase to five-million tons a year of coal in a second phase.

Meanwhile, CoAL also reported on Thursday that it would expand its Makhado coking-coal project area after having entered into an exchange of prospecting rights agreement with joint-venture (JV) companies held by Rio Tinto and the Kwezi Group.

The JV companies Chapudi Coal and Kwezi Mining & Exploration, would give CoAL ownership over certain prospecting rights and interests over certain farms contiguous to the Makhado project, in exchange for other prospecting rights and farms.

CoAL’s subsidiary, Regulus Investment, would pay Chapudi Coal a premium of R12,5-million as part of the farm-swap agreement.

“The rationalisation of Rio Tinto and CoAL’s prospecting rights in Limpopo removes a significant commercial hurdle to the establishment of the Makhado hard coking-coal project. The farm swap, when completed, would result in the creation of a substantial opencast hard coking-coal mining asset,” Farrell noted.

Following the start of production, the project would ramp up over a two-year period to produce five-million tons of saleable hard coking coal.

CoAL would submit an application for new-order mining rights for the project early in 2010.


LSE LISTING

CoAL further highlighted its intention to migrate from the Aim market of the LSE to the main market, which it hoped would be concluded by the first half of 2010.

“Recognising the growing size of the company and its mining assets, its predominantly London focused institutional investor base and share trading liquidity, a move to the main market of the LSE represents the logical next step in CoAL’s exciting development trajectory,” Farrell commented. "

[Popeye82]

SNR aims to start large-scale coal sales by mid-2010 - Mining Weekly, JOHANNESBURG - Oct 29, 2009

- Chanel Pringle -
www.miningweekly.com/article/snr-aims-to-start-large-scale-c…

[Popeye82]

Targeting Cancer Stem Cells; An Industry Report – GS - Sep09
www.griffinsecurities.com/pdf/Industry_Reports/Griffin_Indus…

[Popeye82]

From black gold to green gold: cassava to power Nigeria's drive to Top 20 in 2020; Nigeria says it will harness the opportunities presented by cassava value addition technologies developed by IITA and partners to drive the economy and rank among the top 20 global economies by the year 2020 - IITA - Oct 30, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=948

[Popeye82]

Wirtschaftsminister Brüderle greift Banken an - Financial.de, DÜSSELDROF - Oct 30, 2009
www.financial.de/news/wirtschaftsnachrichten/2009/10/30/wirt…

"Düsseldorf (ddp). Bundeswirtschaftsminister Rainer Brüderle (FDP)
kritisiert die deutschen Banken wegen ihrer zurückhaltenen
Kreditvergabe. «Die Banken müssen dazu beitragen, die Kreditklemme in Deutschland zu lösen», forderte Brüderle im «Handelsblatt»
(Freitagausgabe). Sollte sich die Kreditvergabe nicht verbessern,
werde sich die neue Bundesregierung weitere Instrumente überlegen
müssen. «Im Koalitionsvertrag haben wir uns bereits auf die
Einschaltung eines sogenannten Kreditmediators verständigt, der
zwischen Unternehmen und Banken vermitteln soll. Und wenn das nicht
hilft, muss eben das Hausbankprinzip der Förderbanken zeitweise
ausgesetzt werden», sagte der Wirtschaftsminister weiter.

Konkret denkt Brüderle daran, dass beispielsweise die staatliche
KfW Bankengruppe «direkt Kredite an Unternehmen» vergibt. «Aber das
ist nur als absolute Notfallplanung gedacht, wenn die Banken die
Realwirtschaft nicht ausreichend und zu vertretbaren Konditionen mit Krediten versorgen», sagte Brüderle.

Grundsätzlich hält es der neue Wirtschaftsminister für notwendig,
dass der Staat die Rettungshilfen bei den Banken zurückfährt. «Für
die FDP gilt ein klares Prinzip: Wir wollen keine Staatsbank als
Ergebnis der Wirtschaftskrise behalten. Deshalb wird die Commerzbank, aber auch die verstaatlichte Hypo Real Estate, die Staatshilfen wieder zurückzahlen, sobald es die wirtschaftliche Lage der Bank erlaubt», sagte Brüderle.

(ddp) "

[Popeye82]

TopStory: Chinas Basismetalleinfuhren werfen Fragen auf - Financial.de - Oct 26, 2009
www.financial.de/news/top-stories/2009/10/26/topstory-chinas…

[Popeye82]

USA: 9 Banken bankrott; So viele Banken wurden in den USA noch nie gleichzeitig geschlossen. Am Wochenende gingen gleich neun Geldhäuser pleite - so viel wie noch nie an einem Tag. Darunter auch die viertgrößte Bankpleite dieses Jahres - MMn - Oct 31, 2009
www.mmnews.de/.../USA-9-Banken-bankrott.html

[Popeye82]

Today's headlines - Point Carbon - Oct 31, 2009
www.pointcarbon.com

"Today's headlines

*US airlines reject global adaptation levy
*Industrials get fewer allowances under Kerry-Boxer
*EU carbon retreats amid thin volume
*JP Morgan tightens grip on Ecosecurities
*Utility earnings show sharp drop in US power demand
*EU falls short on climate finance
*Point Carbon cuts long-term EUA forecast
*Iran aims to boost CDM investment
*Australia's Macquarie to cut 750,000mt C02 from coal
*Japan's CO2 emissions drop 6.7%
*Australia’s Liberals in new threat against CPRS
*Japan eyes $22bn in carbon tax revenue
*Japan outlines carbon credit purchase options
*Analysis pegs Canadian carbon at $94 in 2020
*RGGI falls 1.7% amid slow trade "

[Popeye82]

Miners eye sea as land resources diminish - Mining Weekly, JOHANNESBURG - Oct 30, 2009

- Jonathan Faurie -
www.miningweekly.com/article/miners-eye-sea-as-land-resource…

"JOHANNESBURG (miningweekly.com) - The diminishing nature of some land-based mineral resources (the resource determines where you mine and whether you mine – not a nongovernmental organisation focus which is, in fact, a welcome interest) has increased the importance of marine mining and has reignited the interest of mining houses in this new frontier.

Although Southern Africa has a relatively long history of marine mining, the focus was mostly on land-based natural resources during the commodity boom as the emphasis was placed on large volumes when weighed against the cost of mining.

However, the onset of the global economic crisis has significantly affected the mining industry with many mines and smelters being shut down during the worst part of the crisis. During this time, with limited cash burn, increasing volume was the name of the game.

This started to shift the focus of mining houses towards the seas, which offer a plethora of readily available resources.


New Player in the Industry
The recently signed joint venture (JV) agreement between gold-mining major AngloGold Ashanti and diamond giant De Beers has indicated that companies are prepared to look past the high start-up costs associated with this type of mining.

The JV will initially focus on exploration, but, if successful, will ultimately mine marine deposits off the continental shelf. Further, the focus of the venture will not be on diamonds, unless these occur along with other target minerals and metals.

AngloGold Ashanti and De Beers are to establish a jointly owned technical services company, Techco, which they intend to develop into a fully functional marine exploration and mining services company.

Techco and De Beers Marine, a wholly owned subsidiary of De Beers, will provide the skills, expertise, technology and facilities related to marine exploration on the continental shelf.

AngloGold Ashanti will solely fund the JV and Techco until the completion of an initial exploration period of at least three consecutive sampling seasons to December 31, 2012, or until the gold-miner has funded a total amount of $40-million.

Upon the conclusion of this period, AngloGold Ashanti will have earned in an equivalent interest to De Beers’ in all the projects pursued under the agreement. Following the initial exploration period, the two companies will be equal partners in the JV.

Marine-focused engineering company Marine & Mineral Projects MD Rodney Norman reports that the JV is a major investment boost to the industry.

“The JV is significant as it will identify placer deposits in the oceans of the world, which will be explored and their potential understood. The JV heralds the start of an exciting future for the underwater and undersea mining industry. In addition, it illustrates that major mining houses are seeing underwater and under- sea mining as the future of new deposits, discoveries and sources of revenue,” says Norman. He adds that the JV can take the lead not only in Africa but worldwide.


Rich History
Undersea mining off the coast of Southern Africa has a rich history that dates back some 30 years. Undersea mining in Southern Africa began off the west coast of Namibia when Texan oilman and entrepreneur Sam Collins and his company, Marine Diamond Corporation (MDC), recovered its first diamonds in November 1961. Collins developed a bankable reserve and, by December 1962, the mining vessel Barge 77 was commissioned. The success of the vessel prompted MDC to commission a series of other vessels. By 1963, the company had five vessels in operation.

The main focus of these vessels was the recovery of diamonds at depths shallower than 30 m. However, by 1965, the company was still reporting financial losses with minimal mineral reserves identified; that same year, MDC approached De Beers, which became MDC’s major shareholder in 1965. By 1971, reserves in the shallow water were exhausted and mining operations ceased.

De Beers, now the sole owner of MDC, turned its focus to developing and understanding the marine diamond resources. Sampling and exploration operations continued until the early 1980s. By 1983, De Beers had delineated a deposit of significant proportions and De Beers Marine was founded to develop the technology to mine diamonds from depths of between 100 m and 200 m.

The first mining vessel employing a remote subsea crawler, the MV Louis G Murray, was commissioned in 1989 and heralded the start of production. A second large-diameter drill ship, the MV Coral Sea, was commissioned in 1991 and was followed by a succession of mining vessels.


Bright Future
De Beers Consolidated Mines (DBCM) COO Mike Brown confirms that the group has a positive outlook on marine mining based on strong volumes attained from its offshore concessions. These operations are conducted by Namdeb (the partnership between the government of Namibia and the De Beers group) and by DBCM, the empowered South African mining company that mines diamonds off the Northern Cape coast.

“De Beers’ most important mining area is, in fact, the Namdeb concessions off the Namibian coast. The diamonds found in that area were deposited into the sea from the Orange river and are typically large in size – some measure up to 4 ct. The resource in Namibia is significant. Currently, De Beers Marine Namibia is mining over one-million carats a year and this resource will continue for a number of years with current estimates indicating that the area has a 20-year life-of-mine,” says Brown.

Because marine mining is capital intensive, Brown reports, mining economically is the key to success. Namdeb’s licence area covers much of the Namibian coast.

The same applies to the South African concession area, where DBCM has an area of about 8 800 km2. He elaborates that one requires such extensive areas to find the relatively small deposits to try to prove up to mine, if profitable to do so.
The diamonds from the South African Sea Areas (SASA) are a lot smaller than the stones from the Namibian sea areas.


Clever Mining
Brown notes that the marine mining industry is a technologically advanced industry. De Beers has research teams in Johannesburg and Cape Town dedicated to the task of making mining more efficient by using the best technology available while containing costs.

Currently, six mining vessels and one sampling vessel operate along the coastlines of Namibia and South Africa; De Beers Marine Namibia has four fully operational vessels that use the airlift mining method.

When employing the airlift mining method, a large pipe, similar to a mineshaft, although a lot smaller in size and dimension, is lowered from the ship to the ocean floor. At the bottom of this pipe are two horizontal pipes which blow air onto the seabed; because of pressure, this air causes a vacuum in the central pipe, which transports the material up to the surface.

This type of mining is suited to the Namibian offshore operations as the diamonds are located at depths greater than 70 m. “Because the system relies mainly on pressure to form a vacuum, which is key to this mining method, the deeper the stones, the more effective this system will be. The size of the stones also means that this is the best system to use,” says Brown.

De Beers Marine South Africa employs a different method to mine diamonds off the South African coast. Because the diamonds are smaller and shallower, De Beers Marine South Africa makes use of a crawler that is operated from the surface. This crawler sucks up any stones which it comes across on its predetermined path and transports them to the surface through a pump. De Beers Marine South Africa currently operates the DBCM-owned mining vessel Peace in Africa and owns and operates two sampling vessels.

Brown reports that the mining ship carries a crew of about 60 men and women who stay at sea for 28 days working 12-hour shifts a day. The ships remain at sea for about two-and-a-half years, after which they come back to port so that the necessary service, repairs and seaworthiness inspections can be carried out.


Green Mining
Brown reports that, in the past, De Beers was criticised over allegations of the negative environmental impact that its mining methods were thought to have on the seabed. A particular area of concern for environ-mentalists was the effect on crayfish.

However, Brown reports that researchers have ascertained that De Beers believes its deep-water mining operations do not overlap with typical crayfish habitat. He adds that researchers and scientists continuously carry out tests on the recovery of the ocean floor after mining has taken place. “Studies show that the recovery of seabed always occurs after mining. The recovery rate depends on many factors but can occur within a four- to eight-year time scale,” says Brown.

Norman agrees that marine mining has limited environmental degradation.

“A vessel at sea is a self-contained mining unit capable of moving to and mining the mineral deposits. In this way, the vessel causes less destruction of the environment than a land-based operation with vast open-pits and underground operations, which scar the land. As a floating mine, it is mobile and is able to move from deposit to deposit without new capital being spent. The ore is treated at sea and, in the case of the diamond-mining industry, no toxic or destructive chemicals are used; waste material is put back on the seabed, causing minimal disruption,” says Norman.


Future Outlook
Norman reports that, hopefully, South African production will ramp up in time to the same level as the De Beers Namibian operations by mining about one-million carats a year. However, this will be costly and require a significant capital investment.

Current reports from De Beers indicate that the company will not be looking to increase capacity at the moment. “Because the industry is capital intensive, with a new ship nowadays costing about R2-billion, the company is looking at improving the efficiency of its vessels rather than adding another vessel to its operations,” says Brown.

Norman adds that the JV between AngloGold Ashanti and De Beers indicates that companies wish to explore for gold off the coast of South Africa. Marine & Mineral Projects has knowledge of occurrences of heavy minerals off the east coast and phosphates off the south coast. However, little or no exploration has taken place to identify the potential reserves of these areas or the presence of other mineral deposits.

Edited by: Creamer Media Reporter "

[Popeye82]

Gindalbie gets final approval for Karara iron-ore development - Mining Weekly, JOHANNNESBURG - Oct 30, 2009

- Esmarie Swanepoel -
www.miningweekly.com/article/gindalbie-receives-final-regula…

"JOHANNESBURG (miningweekly.com) – ASX-listed iron-ore producer Gindalbie Metals has received its final environmental approval for the development of its Karara iron-ore project, in Western Australia.

The decision by the Federal Government’s Department of Environment, which followed the announcement of state environmental approval on September 9, represented the final regulatory approval required for on-site construction and development work at Karara to proceed.

Following this key milestone, initial work involving clearing, preliminary earthworks and other site establishment activities would start on site at Karara by early November, ramping up to full-scale construction by 2010.

The on-site clearing and earthworks starting at Karara would prepare the site for the full-scale construction of the Karara concentrator which was set to start early in the new-year.

Work has already started on construction of the 300-person Lochada camp, located between Karara and Morawa, which would house part of the initial construction workforce for the Karara project.

This camp would subsequently be responsible for construction of some of the lineal infrastructure required for the project including the rail spur and power line to site. The construction of the Lochada camp was scheduled to be completed in December 2009.

Three major contracts with a combined value of about A$400-million were expected to be awarded in the next three months, following receipt of the final Commonwealth approval. These contracts included earthworks and concrete, design and installation of the Karara village, and construction of the ancillary port facilities.

Other major contracts would also follow in the subsequent months, Gindalbie said in a statement.

“This is a very exciting time for Gindalbie and our partner Ansteel,” said Gindalbie’s MD Garret Dixon.

“The project schedule is now in our hands and we can get on with the task we have all been waiting to get stuck into building a world-class iron ore project.

Dixon noted that the company expected to have up to 500 people on site by January and up to 1 000 by June next year, providing a significant economic stimulus to the mid-West region and bringing exciting new opportunities to this emerging iron ore province and the state of Western Australia.

“Our focus now will be very much on efficient project management, costs and scheduling to ensure that we deliver a world-class iron ore project within our budgeted development timeframe, with the key objective of starting exports of high-grade magnetite concentrate to China in 2011,” Dixon added. "

[Popeye82]

Ford picks Geely for Volvo; Magna upbeat on Opel - Reuters, LONDON/GRAZ - 28 OCT 2009 14:01 GMT

- By Quentin Webb &Boris Groendahl -

- LONDON/GRAZ, Austria (Reuters) - Ford Motor Co chose China's Geely as preferred bidder for Volvo Cars while Magna said it still hoped to clinch a deal to buy a majority stake in Opel from GM after a board meeting on November 3 -
www.reuters.com/article/innovationNews/idUSLS119920091028

[Popeye82]

Kraft results to start Cadbury countdown - Reuters, CICAGO - 29 OCT 2009 21:36 GMT

- By Brad Dorfman -

- CHICAGO (Reuters) - The clock will really start ticking on a deal to create the world's biggest confectioner once Kraft Foods Inc reports earnings next week. -
http://uk.reuters.com/article/idUKTRE59S55Y20091029

[Popeye82]

Sands adds CLSA to IPO, sets timing: sources - Reuters, HONG KONG - 29 OCT 2009 10:32 GMT

- By Kennix Chim &Michael Flaherty -

- HONG KONG (Reuters) - CLSA has been added as a joint sponsor in the more than $2.5 billion Hong Kong IPO of Las Vegas Sands, sources said on Thursday, as other banks fight for a piece of the offering before it lists. -
www.reuters.com/article/innovationNews/idUSTRE59S1CA20091029

[Popeye82]

Hydro-Quebec sees U.S. growth via NB Power assets - Reuters, TORONTO - 29 OCT 2009 22:11 GMT

- By John McCrank -

- TORONTO (Reuters) - Hydro-Quebec said on Thursday it will buy most of the assets of debt-laden New Brunswick Power in a C$4.75 billion ($4.4 billion) deal that will give it better access to power-hungry markets in the U.S. Northeast. -
http://in.reuters.com/article/innovationNews/idINTRE59S3A620…

[Popeye82]

UK Coal’s greenhouse gas reductions rewarded with Carbon Trust Standard - IM Mining - Oct 30, 2009
www.im-mining.com/2009/10/30/uk-coals-co2-reductions-rewarde…

"Mining company, UK Coal has been awarded the prestigious Carbon Trust Standard after taking action to reduce the carbon footprint of its operations. It achieved a 45% absolute reduction in its carbon footprint over the past three years, which represents a greenhouse gas reduction of 980,000 t of CO2. “The measures we have taken clearly demonstrate UK Coal’s full commitment to reduce our own carbon footprint and support for national objective of cutting emissions of greenhouse gases”, says Chief Executive Jon Lloyd.

The Standard is awarded only to companies that pass rigorous, independent investigation into the measures they are taking that have a direct beneficial impact on reducing their carbon footprint and their environmental impact.

Lloyd: “We have made substantial investment in new technology and more energy efficient equipment over recent years, and will continue to do so to maintain supplies of coal produced in the UK and reduce the need for imported coal which has a significantly higher carbon transport footprint.”


Measures taken by the company include:

+ Using methane extracted from mines for safety reasons to generate electricity. Methane generation has increased by 119% over the last three years, from 75.8 GWh to 165.8 GWh, following a £15 million investment in gas turbines. Methane is a potent greenhouse gas with a global warming potential 21 times that of CO2

+ Upgrading the fleet of vehicles used in surface mining with engines which have improved fuel efficiency by 13.7%. Company cars are now fuelled by diesel rather than petrol

+ The installation of a new high efficient booster fan at Welbeck Colliery at a cost of £480,000 that almost doubled air ventilation flow whilst reducing energy consumption.

+ Installing variable speed drive motors on high-power coal cutting equipment and coal conveyance systems at mines to reduce energy consumption

+ Introduced a Teflon additive to greases and oils to prolong the life cycle of components, reduce frictional losses and achieve energy savings.


Lloyd: “Coal today generates around one-third of all the electricity generated in the UK. The government has repeatedly stated that without coal, the lights would go out in parts of Britain. We and other coal producers fully support the wide range of initiatives being taken by the government to ensure coal remains an important part of our energy mix, consumed in a way which addresses the concerns over the environment and climate change. We continue to work with others to achieve that goal.”

Harry Morrison, General Manager, Carbon Trust Standard: “To build the low carbon economy of the future, it is essential that all companies across all sectors focus on reducing greenhouse gas emissions. These efforts are even more important for companies with carbon-intensive operations such as mining. UK Coal has made a significant achievement in reducing its corporate carbon footprint by 45%, and we welcome their continued efforts to further drive carbon out of their day to day business.” "

[Popeye82]

Rodinia Minerals Inc. Acquires Lithium Project In Argentina - October 30, 2009
www.rodiniaminerals.com/investor/news/index.php?&content_id=…

[Popeye82]

Ord River Resources - Laos JV Agreement Signed - Oct 30, 2009
http://stocknessmonster.com/news-item?S=ORD&E=ASX&N=570939

[Popeye82]

Midwinter Resources NL - MoU on Russian Coal - Oct 30, 2009
http://stocknessmonster.com/news-item?S=MWN&E=ASX&N=467027

[Popeye82]

Aquila Resources - Baosteel Receives FIRB Approval for Share Investment - Oct 30, 2009
http://stocknessmonster.com/news-item?S=AQA&E=ASX&N=467227

[Popeye82]

Medoro Completes Acquisition of Colombia Goldfields Ltd. - Oct 30, 2009
http://micro.newswire.ca/release.cgi?rkey=1710304367&view=48…

[Popeye82]

Precious Metal Stock Review - Oct 30, 2009
www.preciousmetalstockreview.com/downloads/October 31, 2009 …

[Popeye82]

Victoria Announces That Drilling at Summit Gold Project Is Underway
On 2:50 pm EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Victoria-Announces-That-iw-308…

[Popeye82]

Selwyn Resources Announces Receipt of Class A Land Use Permit From the Sahtu Land and Water Board, Northwest Territories
On 1:30 pm EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Selwyn-Resources-Announces-iw-…

[Popeye82]

Hana Mining RC Drilling Intersects 2.11% Cu and 30.7 g/t Ag Over 7 Metres in new Section of South Limb of Banana Zone
On 1:06 pm EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Hana-Mining-RC-Drilling-iw-197…

[Popeye82]

Norsemont Mining Commencing Aggressive Exploration Drilling Program at the Constancia Project in Peru
On 11:46 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Norsemont-Mining-Commencing-cn…

[Popeye82]

Verena Minerals Announces Private Placement of Up to $5 Million
On 11:20 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Verena-Minerals-Announces-iw-3…

[Popeye82]

Midland Starts First Exploration Program With North American Palladium on the Laflamme Gold Project
On 11:00 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Midland-Starts-First-iw-125164…

[Popeye82]

TNR Gold/International Lithium Increase Property Fivefold Mavis Lake, Ontario-Rare Metals Pegmatite Project
On 9:25 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/TNR-GoldInternational-Lithium-…

[Popeye82]

Tirex Provides Drilling Update
On 9:00 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Tirex-Provides-Drilling-iw-151…

[Popeye82]

INV Closes Transaction to Option Rio Novo (Brazil) and Kaoko (Namibia) Properties
On 8:54 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/INV-Closes-Transaction-to-iw-3…

[Popeye82]

Etruscan reduces Youga Gold hedge to less than 20% of life of mine production
On 8:31 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Etruscan-reduces-Youga-Gold-cn…

[Popeye82]

Paladin Energy Ltd: New Langer Heinrich and Kayelekera Expansion-Production Increase for 2012 to 2014
On 6:00 am EDT, Thursday October 29, 2009
http://finance.yahoo.com/news/Paladin-Energy-Ltd-New-Langer-…

[Popeye82]

Western Troy Completes Drilling at Schefferville Gold Prospect, Forms "Canadian Remote Power Corporation" and Signs Employment and Severance Agreements with Key Management Personnel
On 9:39 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Western-Troy-Completes-iw-5812…

[Popeye82]

Kalahari Resources to Acquire Remaining Interest in Flagship Lamaque Gold Project
On 9:15 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Kalahari-Resources-to-Acquire-…

[Popeye82]

Klondike Silver Corp Samples 1705 g/t Silver, 1.71 g/t Gold, and 12.2% Lead more Than 500 Meters Beyond Known High-Grade Trenches
On 9:15 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Klondike-Silver-Corp-Samples-i…

[Popeye82]

American Creek to commence Ironmist drill program
On 8:30 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/American-Creek-to-commence-cnw…

[Popeye82]

Tiger Resources Issues September 2009 Quarterly Report
On 7:00 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Tiger-Resources-Issues-cnw-390…

[Popeye82]

Duluth Metals confirms 12 million Indicated ounces and 6 million Inferred ounces of contained palladium, platinum and gold
On 4:00 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Duluth-Metals-confirms-12-cnw-…

[Popeye82]

Keegan's Esaase Project Preliminary Metallurgical Test-Work Suggests Gold Recoveries of 93% Possible
On 8:00 am EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Keegans-Esaase-Project-iw-3882…

[Popeye82]

African gold developers and producers are benefiting from increased investor interest - Proactive Investors - Oct 24, 2009

- by Barry Sergeant -
www.proactiveinvestors.co.uk/companies/news/9438/african-gol…

[Popeye82]

Mariana Resources Confirms Gold-Silver Discovery at the Dos Calandrias Project Argentina - Oct 28, 2009
www.marianaresources.com/pdf/2009/091028_Mariana_news.pdf

[Popeye82]

Latest Figures Spark Further Optimism in China’s Speedy Economic Recovery and Future Prospects - PI/ARC China - Oct 22, 2009
www.proactiveinvestors.co.uk/columns/china_weekly_bulletin/9…

"Figures released last week show that China’s economy is still showing very positive signs of recovery and shaping into positive forecasts for the nation’s Q4 performance. According to a report released by Reuters, “A surge in construction and real estate spending, a double-digit increase in power use, a rise in foreign direct investment and a bullish export forecast” added to mounting confidence in China’s quick rebound from the economic downturn.

“The barrage of figures came after data showed a marked improvement in imports and exports in September --although they were still down from year-earlier levels -- as well as robust money and credit growth,” the report said.

"Going into the fourth quarter, we expect that the pace of decline in exports will narrow further, and I think we'll quite possibly see positive annual growth in some months,” said China Commerce Ministry spokesman Yao Jian. He went on to say that the confidence of overseas firms in China is also likely to lead to a continued recovery in foreign direct investment, which grew by 18.9% from a year earlier with $7.9 billion growth in September 2009.

The primary force behind China’s continued growth this year has been the RMB 4 trillion ($585 billion) stimulus package with its strong support for transport infrastructure, affordable housing and public works. However, as the real estate industry now accounts for more than 20% of total fixed-asset investment in China, private property developers are now stepping up to the plate. According to the National Bureau of Statistics, real estate investment grew by 17.7% from a year earlier in the January-September period, up from 14.7% reported for the first eight months of this year.

Economists at Bank of America Merrill Lynch reported an acceleration in the monthly property investment growth rate to 37% in September, year on year, from 34.6% in August. In a report released to the firm’s clients, they predicted property investment will continue to be a major growth driver through the rest of this year.

The Q3 GDP report set for release on Thursday is expected to show just how far China has come in its economic recovery since last quarter. A Reuters poll of economists predicted acceleration of the annual growth rate to 8.9% from 7.9% in the April-June period. If this proves to be the case, even the most optimistic forecasts may end up incorrect.

ING's chief Asia economist Tim Condon predicts that the People’s Bank of China will continue to finetune the nation’s monetary policy and respond ultimately with an interest rate increase in Q1 2010. Pressure for China to allow the yuan to appreciate once again is mounting as well. Clearly China’s growth has caught the attention of the world and speculation has turned to what China will do post-recovery. Meanwhile most of the world’s other major economies are still searching for recoveries of their own.

Adam Roseman,
Founder & CEO
ARC China


Domestic Spending To Hit RMB 12 Trillion

Consumer spending is expected to increase by 50% in China's top 25 cities in the next five years due to a rapid increase in the country's per capita disposable income, according to a new report from McKinsey & Company.

The report estimated that per capita spending in China's urban areas will rise to RMB 16,000 ($ 2,344) per year in 2015, up from RMB 10,000 in 2008. The volume of domestic consumer spending is expected to total RMB 11.7 trillion.

"We anticipate consumption growth in China to keep pace with GDP in the coming years, at a 10% CAGR by 2012," said Max Magni, partner and head of McKinsey's consumer practice based in Shanghai.

However, there are variations in consumer spending increases among different cities, with Beijing and Yantai and Weihai of Shandong province having the highest CAGR of 10.2% in 2008 to a projected 14% in 2015. Cities like Shanghai, Guangzhou and Shenzhen, with export-oriented economies, will have a CAGR as low as 6.5% during the same period.

Vinay Dixit, senior director of McKinsey's Asia Consumer Center, said export-dependent cities have suffered a harder blow from the global financial crisis, which means a longer recovery of consumer spending momentum.

McKinsey recently released the findings of a separate survey of 15,000 people in 58 cities that showed lower consumer confidence in the wake of the financial crisis, particularly among low-income earners and those living in export-reliant regions.

The consumer confidence index dropped to 86 points in March from 94.5 points in the same period last year.

Source: China Daily


China To Input $69 Billion For West Development In 2009

China plans to invest RMB 468.9 billion ($68.65 billion) in projects to boost the development of the country's western region in 2009, said the National Development and Reform Commission (NDRC).

The investment will go to 18 projects, including railways, express ways, hydropower stations, shipping hubs, water control projects and airports.

These projects play a vital role in implementing China's West Development Strategy, promoting economic and social development there and improving people's lively-hood in the region.

China has launched 102 projects for boosting western region development from 2000 to 2008, involving RMB 1.74 trillion of investment.

The West Development Strategy is a policy adopted by the Chinese government to help the underdeveloped western region catch up with prosperous eastern region.

Source: China Daily


China's Forex Reserve Hits Record $2.27 Trillion

China's foreign exchange reserve hit a new high of $2.27 trillion by the end of September, up 19.26 percent year on year, according to the People's Bank of China, the central bank.

In the first three quarters, China's foreign exchange reserve increased $326.6 billion, and the increase was $50.7 billion less than the same period last year.

China's foreign exchange reserve added by $43 billion in July, $36.2 billion in August and $61.8 billion in September.

At the end of June, China's foreign exchange reserve surpassed $2 trillion for the first time by $131.6 billion.

Source: Xinhua News


Third and Fourth Tier Cities Shine

China's so called third and fourth-tier cities - those at county level - will be most targeted in the future by domestic enterprises, in-vestment agencies and international companies.

Under the current situation of urbanization, consumption markets in the country's first and second-tier cities, for example Beijing, Shanghai and Guangzhou, tend to be saturated and people's spending power will not be enough to support the country's economic growth.

There are more than 4,000 third and fourth-tier cities in China. The retail sales of consumer goods at and below county level totaled RMB 3.48 trillion ($510 billion) in 2008 compared with RMB 1.84 trillion in 2004.

To comprehend the size of the market outside major metropolises, it is worth considering that Yichun, a Chinese clothing brand hard to find in big cities, took in RMB 8 billion in sales in 2008. Lenovo released computers targeted at rural markets that cost just RMB 1,499. Ownership of the Nokia 1110 phone in China is reported to be about 200 million.

Peng Gang, director of integration strategy at Bates 141 China, said the rules and principals of marketing and branding in third and fourth-tier cities are very different from those in big cities. "People in smaller cities usually put quality, durability and after-services first when they make consumption decisions." In addition, they have far more time and their consumption decisions are made more prudently rather than impulsively, Peng said.

Source: Xinhua News


China's Super-rich Bounce Back From Financial Crisis

China's super-rich have bounced back from the financial crisis with a vengeance, and China now has more known dollar billionaires than any other country except for the United States.

The annual Hurun Report said China has 130 known dollar billionaires, up from 101 last year. The number in the United States is 359 while Russia has 32 and India 24, according to Forbes magazine.

China's rich are getting richer, with the average wealth on the list $571 million, up almost one-third from last year, said compiler Rupert Hoogewerf. "With the greatest wealth destruction in the west of the last 70 years, we've seen China buck the trend and the wealth seems to be still growing."

"They've put the credit crunch behind them," he said. "The key driver has been urbanization. You've got all these cities being built, and that requires property developers, iron and steel manufacturers. The latest thing is cars."

Topping the list was Wang Chuanfu, chairman of electric car and battery maker BYD Co Ltd in which U.S. billionaire Warren Buffett holds a stake, with an estimated personal wealth of $5.1 billion. He was also the fastest riser from last year, up 102 places.

Second place went to Zhang Yin and family, owner of paper recycler Nine Dragons Paper, while in third place was Xu Rongmao and family, owner of Shimao Property Holdings Ltd.

Hoogewerf said the actual number of dollar billionaires could be higher than estimated. "Either they are super-discreet, or perhaps they haven't come to the surface," he said. "Having said that, the transparency of wealth...is now very much in the open. There's many more listed companies."

China's ruling Communist Party once condemned entrepreneurs and private business people as capitalist exploiters, but now welcomes them since the landmark economic reforms in the 1970s. One third of the people on the 1,000-name rich list are estimated to be Party members.

Source: Yahoo News


China's Housing Prices rise 2.8% in September

Housing prices in 70 of China's large and medium-sized cities rose 2.8 percent in September compared with the same month last year, according to the National Bureau of Statistics.

Prices were up 0.7 percent from August, when they rose 2 percent from the same month in the previous year.
Prices of new houses in September rose 2.7 percent from the same month last year, and 0.8 percent from August.
Housing prices in certain cities rose more quickly than in other cities. September prices in Guangzhou and Yinchuan rose 7.3 percent and in Kunming 6.1 percent from the same month last year.

In September, prices of second-hand homes in the 70 cities rose 3.8 percent from a year earlier, and 0.5 percent from August.

Source: China Daily


Strong Trade Figures Export New Optimism

China reported surprisingly good trade figures, offering fresh evidence that the world's third-largest economy is well on the road to recovery and suggesting global demand is improving.

Exports from China fell in September by 15.2 percent compared to the same period last year, which was much better than analysts had expected. Forecasters were braced for a 21 percent fall.

And there was more good news, with imports falling by just 3.5 percent compared to September 2008, far better than the anticipated 15.3 percent decline.

Brian Jackson, an economist with Royal Bank of Canada in Hong Kong, said the slower pace of decline bodes well for China's recovery because growth this year had depended too much on the government's RMB 4 trillion ($586 billion) stimulus package. He said there is now hope that growth can also be encouraged by increased demand.

Indeed, the news was even better than it first appeared because, after adjustments are made taking into account the number of working days each month, exports rose by 6.3 percent compared to August and imports rose by 8.3 percent during the same period.

The strong trade performance was beyond the expectations of some analysts who insisted it was not sustainable in the long term.

Analysts said it was too soon to be overly optimistic but they said there will likely be positive growth in exports during the final quarter as manufacturers benefit from both the worldwide economic turn-around and the low benchmark set last year.

While the high unemployment rate is likely to persist for several months and while the consumption confidence index is not encouraging, most American economists believe the US has emerged from the economic recession.

China's purchasing management index (PMI), another indicator of the economic health of the manufacturing sector, rose to 54.3 percent in September, 0.3 percentage points higher than it was in August. It was the seventh consecutive month that the index had risen above 50 percent.

Imports in September were worth $103 billion. That represented a 17 percent increase on the volume of imports in August, according to the Customs data.

Exports totaled $115.9 billion, up 11.8 percent from August.

Total foreign trade reached $218.94 billion in September, down by 10.1 percent year-on- year. "The improvements (among both exports and imports) were much larger than expected. The worst is over," said Denise Yam from Morgan Stanley.

Source: China Daily


China and Miners Lock Horns on Annual Pricing

Miners will demand hefty price increases for iron ore and coking coal during the annual contract negotiations that start in China this week, opening the door for a clash with Beijing on the cost of the commodities.

The demand comes amid a rally in commodities prices, from crude oil to copper, on the back of strong China growth and a weak dollar, and is likely to boost miners’ shares, which have surged since January.

Vale of Brazil, Rio Tinto and BHP Billiton will ask for a 30-35%t increase in iron ore prices for 2010-11, partially reversing the 33% cut agreed for 2009-10, according to mining executives familiar with the negotiations. They will ask for a 40-50% rise in coking coal prices, after a 58% fall this year.

The rosy outlook is due to the miners’ belief that an economic recovery is under way, with steel production rising in China and elsewhere.

Analysts and brokers agree prices will rise, but they are less bullish, forecasting increases for iron ore of 10-20% and 30-40% for coking coal.

The 40-year-old bench-mark system, in which the first deal between a miner and a steelmaker sets a yardstick to be followed by the rest of the industry, is under threat after China rejected the miners’ 2009-10 settlement with Japan, opting to buy on the spot market.

But analysts believe a benchmark deal is likely to be struck for 2010-11, although it is months away.

China and the miners are facing off for what could be a contentious negotiating round, with differences not just on the magnitude of any price change but even on whether prices should rise or fall.

The China Iron and Steel Association has sent clear signals that it wants a price cut. In recent days it has talked of oversupply in iron ore imports and declared its intention to cut back on overcapacity in the steel industry. The fresh negotiations come after this year’s talks ended in stalemate as China refused to accept a deal between Rio and Japanese mills for a 33%, insisting instead on a 40-45%

Source: Financial Times


China's Zijin considering up to $1 Billion in gold and copper projects in the Philippines

China's Zijin Mining Group (2899.HK) is eying up to $1 billion in investments in gold and copper projects in the Philippines within five years, the Philippine environment secretary said.

China's largest listed gold company signed an MOU with the Philippine government to signify their interest to enter into mining ventures in the Southeast Asian country.

"It's an MOU where their intention to invest was clearly stated," said Jose Atienza, environment and mining secretary.

"They can look for a local partner," Atienza said, adding Zijin has initially linked up with local mining firm NiHAO Mineral Resources International Inc (NI.PS: Quote).

Zijin has been actively pursuing acquisitions of mineral resources outside China and had made initial investigations into various overseas projects. In July, it ended share acquisition talks with a Kazakhstan gold company.

The global downturn has hurt the Philippines' mining sector, with the government cutting its investment target for this year to just over $600 million, down from an initial target of up to $1 billion.

Source: Reuters


Versace Leaves Japan and Courts China

Tucked away on the lower ground floor of a Shanghai shopping mall is a modest boutique that could represent the future for Versace.

While the Italian designer label this week announced its retreat from Japan, the largest luxury goods market, it signaled grand ambitions in China.

Versace has opened 20 boutiques in the country and is planning more.

Soon its clothing range – items in which price up to RMB 25,000 ($3,700) – will be displayed in premises in Shanghai’s Plaza 66 mall, where it hopes to catch the eye of China’s wealthy entrepreneurs. But potential customers are not just the rich. Shanghai’s women office workers are renowned for spending a month’s salary on a handbag or pair of shoes.

China has a rapidly growing number of rich people – 825,000 with a personal wealth of more than RMB 10 million, according to The Hurun Report, a luxury-business research group known for its annual China rich list. They are just as obsessed with high-end brands as the Japanese, and their love affair with luxury is in its infancy.

“China will become not just a market you hope to sell into but one you design your strategy around, just as Japan has been,” says Yuval Atsmon, a luxury-industry expert at McKinsey in China.

But luxury brands have a lot to learn about the Chinese consumer. More than 55% of Chinese consumers only started to buy luxury products in the past four years, according to a McKinsey study.

Their traits differ from those of the Japanese. “The Chinese wealthy consumer is 20-30% younger than in Japan,” Mr Atsmon says.

McKinsey expects the growth in luxury goods consumption to come from cities that are not well penetrated by international businesses.

Source: Financial Times


Gap Aims to Crack China Market

Gap, one of the world’s biggest clothing retailers, is to open its first store in China next year in a push for international growth that will include selling online in the European Union and Canada for the first time.

Glenn Murphy, chief executive, said that the company intended to “step up” investment to regain market share and expand international operations after two years working on improving performance.

The China store will be the first new market that Gap has entered directly for more than a decade, rather than through the franchising model, launched in 2007, that it is using in the Middle East, Asia and Eastern Europe.

“It’s a big opportunity... Chinese consumers love American brands,” Mr Murphy said at Gap’s annual investors’ meeting.

Mr. Murphy contrasted the new approach to Gap’s initial international expansion in the 1990s, when it tried to apply a standard US store blueprint.

Gap’s online sales deliver-ed revenues of more than $1 billion in 2008.

The clothing retailer said that it would continue efforts to increase the profitability of its store operations by reducing its total store base square footage by 10% over the next five years, while maintaining store numbers.

Its more than 1,000 Old Navy stores in North America reported positive year-on-year comparable sales gains in August and September, its first two months of consecutive positive numbers for more than five years. Old Navy’s sales account for 40% of Gap’s total sales. Comparable sales at Banana Republic and Gap brands have remained negative.

Source: Financial Times


PearlinPalm Reaps $10 Million Investment

PearlinPalm, a leading mobile game producer in China, garnered over $10 million from China Broadband Capital Partners and DT Capital Partners.

PearlinPalm, a foreign-owned enterprise boasting advanced technologies, has been dedicated to top-notch R&D and services of mobile games and application products for China’s wireless value-added service market.

As of the beginning of 2009, PearlinPalm has successfully developed and operated more than 200 mobile games and application products on a variety of subjects, such as martial arts, fairy tales, history and leisure, some of which are familiar to the public.

Source: Zero2IPO


Far Eastern Receives Investment from KKR, GIC and CICC

An investor consortium including affiliates of Kohlberg Kravis Roberts & Co., Government of Singapore Investment Corporation and China International Capital Corporation Limited (CICC) announced an investment of $160 million for a significant minority stake in International Far Eastern Leasing Company Ltd. (Far Eastern), the leading provider of financial leasing in China and a subsidiary of Sinochem Group (Sinochem). The investment will support Far Eastern’s future growth as it moves to capitalize on the attractive potential in the underdeveloped financial leasing space in China. Sinochem is retaining a controlling stake in Far Eastern.

Headquartered in Shanghai, Far Eastern is focused on providing innovative and industry-tailored financing solutions for its clients. The company targets sectors with stable cash flow and sustainable growth potential, including those in the medical, printing, education, infrastructure construction, shipping, machine tool sectors, etc.

Source: Zero2IPO


Coca-Cola Invests in China’s Largest Still Beverage Plant

Coca-Cola (KO.N) said that it has opened a RMB 600 million ($88 million) bottling plant in China, its largest single investment in still beverage production in the country, to meet growing demand from Chinese consumers. The world's biggest soft drinks maker said in a statement that still beverages accounted for 30 percent of Coca-Cola China's business.

The plant, based in the central industrial city of Wuhan, is Coca-Cola's 39th in China and the third it has opened this year in China, the world's second-largest beverage producer in the world after the United States.

Coca-Cola has committed to investing $2 billion in China over the next three years.

"We are dedicated to providing Chinese consumers with a diversified portfolio of high-quality drinks and we will continue to invest in the full spectrum of the beverage business", said Doug Jackson, president of Coca-Cola China, in the statement.

Earlier this week, Cola-Cola launched a Minute Maid "Pulpy Milky" fruit dairy product in China, its first dairy beverage offering in the market.

In June, the company said it would establish a still-beverage production base in Sanshui, Guangdong. The facility is scheduled to start operating in 2010. With the completion of the Sanshui operation, Coca-Cola's total investment in China's still-beverage market would reach RMB 2.8 billion, according to the company.

Source: Reuters "

[Popeye82]

A1 Minerals presents at Mining 2009 - Santa is coming - PI - Oct 29, 2009

- by Andrew McCrea -
www.proactiveinvestors.com.au/companies/news/3059/a1-mineral…

[Popeye82]

Emergent Resources shares up on Phase III drill program results at Beyondie Iron Project - Proactive Investors - Oct 26, 2009
www.proactiveinvestors.com.au/compa.....ie-iron-project-3010…
http://stocknessmonster.com/news-it.....MG&E=ASX&N=465601

"Perth-based exploration company Emergent Resources Limited (ASX: EMG) has added further significant results to its recent phase III drilling program at its Beyondie Magnetite Project in Western Australia’s mid-west iron ore region.

The additional significant results of six drill holes were compiled using a lower cut off of 20% Fe and maximum internal waste of 2 metres and consisted of intercepts: of 135m @ 27.63% Fe, 139m @27.65% Fe, 113m @ 27.55% Fe, 109m @ 27.81% Fe, 87m @ 27.85% Fe and 75m @ 28.01% Fe.

Investors cheered the result pushing Emergent shares to a high of 95 cents.

Emergent has now completed three drill programs at the Beyondie Iron Project since listing on the ASX in August last year, achieving the substantial total of 14,311 metres across 116 holes.

Based on the recent drilling the company now is set to announce a significant JORC resource upgrade at the project in the near future.

The Phase III drill program comprised 39 Reverse Circulation drill holes for 7,964 metres bringing the RC total to 11,405 metres and 14 Diamond drill holes for 2,906 metres over a 12km segment of the known 60km total strike length at the Beyondie Project.

The program was designed to confirm earlier strong thickness and continuity of the wide Beyondie Magnetite Schist (BMS) and to provide high quality metallurgical and engineering samples for testwork and upgrade the Inferred Resource.

Emergent plans to develop the Beyondie Joint Venture project into a long term, large scale, and high grade magnetite mining operation

Chinese State Owned Enterprise China Metallurgical Investment Co Ltd (CMIC) has successfully completed Due Diligence for the Development Joint Venture on the Beyondie Iron Project. "

[Popeye82]

Emergent Resources closes landmark agreement with CMIC for placement and A$200m joint venture - Proactive Investors - Oct 28, 2009
www.proactiveinvestors.com.au/compa.....m-joint-venture-3046…
http://stocknessmonster.com/news-it.....MG&E=ASX&N=466293

"Emergent Resources Limited (ASX: EMG) and China Metallurgical Investment Co Limited (CMIC) have signed a subscription and option agreement over a previously announced share and option placement and a $200 million joint venture of the Beyondie project.

CMIC concluded due diligence on the 15th October 2009.

Emergent will issue 8,553,971 shares at 45 cents per share and grant 4,276,986 options at 27 cents per option to CMIC. The options expire on 30 September 2010 and have an exercise price of 20 cents.

The 50:50 JV will target initial production of 3Mtpa of magnetite concentrate from Beyondie.

Emergent chairman George McMaster said, “I am particularly pleased with the outstanding progress made in just 14 months since Emergent’s ASX listing.”

Managing Director Garry Hemming said he was delighted with the subscription placement agreement for CMIC to take this important position in the Company.

"We would anticipate that the conditions to the agreement will be satisfied within the required time frame. We now look forward to proceeding with the Beyondie 50:50 Development Joint Venture with CMIC, he said.”

Emergent has been advised by CMIC that to achieve a proposed second stage of the Beyondie Project’s annual production output to 8 million tonnes of magnetite concentrate - following the first stage 3 million tonnes per annum production - the Joint Venture will seek additional funding over the initial A$200m investment.

Emergent will seek shareholder approval for an additional placement of approximately A$5million to fund the initial payment of $4.5 million to De Grey Mining Limited for the acquisition of 100% of the Beyondie Project as announced on 5 October 2009. "

[Popeye82]

Apollo Minerals exceed expectations with latest drilling results at Mt Oscar - PI - Oct 22, 2009

- by Amy Dry -
www.proactiveinvestors.com.au/companies/news/2978/apollo-min…

"Shares in Pilbara magnetite explorer Apollo Minerals (ASX: AON) have reacted to the news of further success from its drilling campaign at its Mt Oscar tenement in the Pilbara.

Apollo director and chief operating officer Richard Sealy said the intercepts comprising magnetite rich iron ore horizons surpassed the expectations of the company by a margin of 37 per cent.

As a result, the share price rose 1.5c, or 4.2 per cent, 37.5c following the announcement.

“The expectation was that the drilling would produce total intercepts widths of 560 metres whereas the drilling produced total intercept widths of 768 metres,” Mr Sealy said.

“Thickening of the Banded Iron Formation appears to be associated with intense folding resulting in these significant magnetite intercepts.

“The iron ore samples from the intersections have now been sent for assay and DTR testing and testing is in progress.”

The results from these tests will be reported as soon as they become available. Apollo will immediately commence the planning for its next drilling campaign which will have as an objective of defining an initial maiden resource at the project site.

Earlier this month, Apollo struck significant magnetite iron ore intercepts at Mt Oscar with a combined intercept of a stunning 196 metres – more than double the expected amount.

The first drillhole, A6N, intercepted two significant magnetite rich horizons.

The first intercept was from a depth of 25 metres to 87 metres for an approximate true width of 62 metres. The second unit, which lies underneath the first, was intercepted at 215 metres and ended at 349 metres for an approximate true width of 134 metres (combined total of 196 metres).

The second unit, which lies underneath the first, was intercepted at 215 metres and ended at 349 metres for an approximate true width of 134 metres (combined total of 196 metres).

The Mt Oscar Project has particular appeal to overseas interested parties due to its proximity to infrastructure.

The ore project is located 30 km south of the port of Cape Lambert and Aquila’s proposed multi user Ankatell Point port.

More importantly, it is hosted within the Cleaverville Formation which is also the host to the 1.6 billion tonne Cape Lambert magnetite deposit. "

[Popeye82]

Metallica Minerals presents strong core value of assets at Mining 2009 - PI - Oct 28, 2009
www.proactiveinvestors.com.au/companies/news/3043/metallica-…

"Speaking to delegates at Mining 2009 in Brisbane today, Andrew Gillies managing director of diversified explorer Metallica Minerals (ASX: MLM) presented a picture of the combined inherent value of group assets in Queenland not represented in the current market value.

Apart from the 100% owned Nornico nickel laterite project, Metallica owns 33% of ASX listed bauxite developer Cape Alumina (ASX: CBX), 76% of Planet Metals (ASX: PMQ) and 79% of Metro Coal (IPO prospectus due out soon). As well Metallica has $14 million in cash with a tight share capital.

Largest shareholder is Tien Mining, second largest producer of nickel and cobalt in China.

Of Nornico, he said nickel laterites are challenging but Metallica was comfortable that risks can be reduced by increased recoveries and higher grade. Nornico currently has a resource of 51 m/t @ 0.72% Ni, with 364,000 tonnes of contained nickel. Investors should be looking for an increase in resource in the near term.

Cape Alumina owns 100% of the Weipa Bauxite project, one of the largest bauxite projects in the world. Its valuation, alone should ensure a higher valuation for Metallica.

Planet Metals with the Wolfram Camp Mine and tungsten/molybdenum prospect, the company was looking to do some drilling soon.

Metro Coal owns 4000 sq km of coal and potential UCG tenements in the Surat Basin. It was targetting 2.5-3 billion tonnes of coal exploration target. There was a 100 hole drilling program for 25,000 metres planned. "

[Popeye82]

Stirling Products HDA drug delivery technology offers transformational potential - PI - Oct 22, 2009

- by Andrew McCrea -
www.proactiveinvestors.com.au/companies/news/2976/stirling-p…

[Popeye82]

China BAK Battery closes US$20.6 million direct offering - PIC - 2009-10-28

- by Andre Lamberti -
www.proactiveinvestors.com.hk/stock_news/1864-china-bak-batt…

"China BAK Battery Inc (Nasdaq: CBAK) said it has closed the direct offering of 5.79 million units priced at US$3.55 apiece, with each unit consisting of a share of common stock and a warrant to purchase 0.25 of a share of common stock, raising US$20.6 million.

The company expects to receive approximately US$19.3 million net and will use the money to pay down debt and as working capital.

China BAK Battery manufactures lithium-based battery sells, the principal component of rechargeable batteries used in cellular phones, notebook computers and portable consumer electronics, such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs.

China BAK Battery's 3.0-million-square-foot facilities are located in Shenzhen and Tianjin in China and have been recently expanded to produce new products.


Profile
China BAK Battery is one of the largest manufacturers of lithium-based battery cells in the world, as measured by production output. It produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics, such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs. "

[Popeye82]

China-Biotics Completes Phase 1 Production Upgrade - PIC - 2009-10-28

- by Jamie Ashcroft -
www.proactiveinvestors.com.hk/stock_news/1860-china-biotics-…

[Popeye82]

Engineering to pursue water treatment projects - PIC - 2009-10-28

- by Jamie Ashcroft -
www.proactiveinvestors.com.hk/stock_news/1859-bioteq-enters-…

"BioteQ Environmental Technologies Inc (TSX: BQE) announced it has entered into an agreement with Guangdong Hehai Engineering Consulting Company, to jointly pursue water treatment projects in the Chinese power generation industry.

BioteQ is a Canadian based water treatment company that applies innovative technologies and operating expertise to solve challenging water treatment problems. BioteQ is expanding the use of its water treatment technologies to include applications in the power generation sector, targeting the treatment of dissolved solids that otherwise limit water re-use in process streams.

Guangdong Hehai Engineering Consulting Company is a mid-sized professional engineering firm based in Guangzhou City. The company specializes in engineering for water resources, hydro power, utilities and power projects in China. The company's customers include private companies and government agencies involved in water management and coal-fired power plants.

Under the terms of the agreement, the two companies have agreed to target several large, state-owned power producers. The companies will work together to assess at least five potential projects within the next twelve months, with the goal of securing a definitive commercial agreement for a project within that time.

BioteQ currently maintains one joint venture in China with Jiangxi Copper Corporation, China's largest mining company.
The company has extensive industry contacts, and has agreed to provide technical marketing, including allocating three of its full-time engineers, to work on project assessments that could apply BioteQ's water treatment technologies in the power generation sector in China.

BioteQ will provide technical evaluation, process design, and project costing for the assessments, and would be the technology supplier and operator for any projects secured under the agreement. "

[Popeye82]

China Advanced Construction Materials Moves Up To NASDAQ - PIC - 2009-10-28

- by Jamie Ashcroft -
www.proactiveinvestors.com.hk/stock_news/1858-china-advanced…

[Popeye82]

CEDT designs new generation of classroom scientific data collectors - PIC - 2009-10-22
www.proactiveinvestors.com.hk/stock_news/1807-cedt-designs-n…

[Popeye82]

Cashbox seals deal to advertise China Unionpay on its UK ATM network - PIC - 2009-10-21
www.proactiveinvestors.com.hk/stock_news/1803-cashbox-seals-…

[Popeye82]

Microbix to build Asia’s largest flu vaccine plant in China - PIC - 2009-10-28

- by Jamie Ashcrof -
www.proactiveinvestors.com.hk/stock_news/1857-microbix-to-bu…
www.newswire.ca/en/releases/archive/October2009/27/c2779.htm…

"Developer of proprietary biological technologies Microbix (TSX: MBX) has tapped into the Chinese influenza vaccine market, launching a joint venture with state owned Hunan Biopharmaceutical to build the world’s third largest vaccine plant in a country where only 2% of the population are immunized against the flu.

The JV will build and operate the US$200 million facility in the Changsha National Biomedical Park, which will have the capacity to produce 100 million doses of seasonal influenza vaccine annually and up to 300 million doses of a pandemic influenza vaccine in the event of an outbreak to immunize against a single strain of influenza. The facility will be designed around Microbix VIRUSMAX vaccine technology, which has demonstrated a double average yield increase over current production methods.

The construction will begin in 2010 and the plant is expected to be fully operational by 2013.

“Microbix will play a major role in meeting the public health needs in China where, due to limited vaccine production capacity, only two percent of the population is immunized against flu, while the World Health Organization recommends that countries have the capacity to vaccinate at least 60 percent of their populations,” said Chairman and Chief Executive of Microbix William Gastle.

Microbix, which will be targeting both the Chinese and Asian markets, expects China to demand up to 500 million influenza vaccine doses annually. Te company also aims to seek approval for the vaccine manufactured at the Hunan plant from the FDA (Food and Drug Administration) in the US and European Medicines Agency.


Profile
Microbix specializes in developing proprietary biological technologies which have led to the development of a pipeline of products in three areas; Biotherapeutics, vaccines and non-therapeutic biologics "

[Popeye82]

Mountain Lake Arranges Financing for Fall Drilling of its Little River Gold-Antimony project in Newfoundland - Nov 2, 2009
www.tradingmarkets.com/.site/news/Stock News/2617596/

[Popeye82]

Gold Resource Corp. - Crushing Plant Start-Up at Gold Resource Corporation’s El Aguila Project Mill - Nov 2, 2009
www.goldresourcecorp.com/releases/GRC-2009-11-02-1.pdf

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Rio, Chinalco in Negotiations over Oyo Tolgoi - Mining Technology - 02 November 2009
www.mining-technology.com/news/news68664.html?mxmroi=1370053…

"Rio Tinto and aluminium producer Chinalco are in talks regarding a joint investment in Mongolia for the Oyu Tolgoi copper and gold project.

According to Australian paper The Age, Oyu Tolgoi, situated 80km from the China-Mongolia border, is one of the largest untapped gold and copper mines in the world.

Canadian mining company Ivanhoe Mines, of which Rio Tinto owns 19.7%, holds a 66% interest in the mine.

Under an agreement between Ivanhoe and the Mongolian Government, Oyu Tolgoi will receive an investment of $4.5bn.

The mine is predicted to commence production by 2013.

In the first ten years of production, Oyu Tolgoi is expected to annually generate 450,000t of copper and 14.18t of gold.

According to the 21st Century Business Herald, Chinalco has been keeping an eye on the development of the Oyu Tolgoi project and will discuss potential collaborations for its infrastructure construction, financing and marketing. "

[Popeye82]

Gold Reserve Asks Venezuela for Compensation - Mining Technology - 02 November 2009
www.mining-technology.com/news/news68518.html?mxmroi=1370053…

[Popeye82]

Kiska Drills 106.9 Metres of 1.22 g/t Gold at Island Mountain Area, Whistler, Alaska - Nov 02, 2009
www.marketwire.com/press-release/Kiska-Metals-Corporation-TS…

[Popeye82]

Karzai rival quits Afghan run-off - Reuters, KABUL - 02 NOV 2009 03:55 GMT

- By Golnar Motevalli -

- KABUL (Reuters) - Afghan presidential challenger Abdullah Abdullah quit an election run-off on Sunday after accusing the government of not meeting his demand for a fair vote, leaving doubts over the legitimacy of the next government. -
http://uk.reuters.com/article/idUKTRE59U1IB20091102

[Popeye82]

U.N. says $39 billion would stem child pneumonia deaths - Reuters, LONDON - 02 NOV 2009 01:12 GMT

- By Kate Kelland -

- [red]LONDON (Reuters) - Pneumonia kills more young children than any other disease, but an investment of $39 billion, or just $12.9 per child, could save 5.3 million lives in developing countries by 2015, the U.N. said Monday.[/red] -
www.reuters.com/article/healthNews/idUSTRE5A105820091102

"LONDON (Reuters) - Pneumonia kills more young children than any other disease, but an investment of $39 billion, or just $12.9 per child, could save 5.3 million lives in developing countries by 2015, the U.N. said Monday.

The disease, which attacks the lungs, kills 1.8 million children under the age of five every year, but despite this toll, relatively few resources are put into tackling it, the World Health Organization and U.N. Children's Fund said.

They made a joint appeal to fund a six-year plan for pneumonia prevention and treatment in 68 developing countries, mostly in Africa and Asia, plus parts of Central and South America, where it is prevalent.

"We know the strategy will work, and if it is applied in every high-burden country, we will be able to prevent millions of deaths," Margaret Chan, director general of the World Health Organization, said.

The agencies called for strategies to urge mothers to breast feed babies exclusively for the first six months, increase use of vaccines, and boost proper treatment. They also want policymakers to act immediately to implement the plan.


Their proposed Global Action Plan calls for:

+ Protecting children by assuring breastfeeding for six months, providing adequate nutrition, reducing low birth weight and indoor air pollution and improving hygiene.

+ Preventing children contracting pneumonia with vaccinations against major triggers, including measles, Hib, pneumococcus and rotavirus, by preventing and treating HIV in children, and by providing zinc for children with diarrhea.

+ Treating children who get pneumonia with antibiotics and proper care in local communities, health centers and hospitals.


It sets targets for 2015 to expand coverage of the relevant vaccines and exclusive breastfeeding rates to 90 percent and increasing access to proper treatment to 90 percent.

Reaching these goals would cut child pneumonia deaths by 65 percent and cut the number of severe pneumonia cases in children by 25 percent compared to 2000 levels, it said.

Children in rich nations are routinely immunized against diseases that cause pneumonia, but in much of the developing world vaccine coverage is patchy.

Prevnar a vaccine made by Wyeth, now owned by U.S. drug giant Pfizer, protects against seven strains of S. pneumonia and is part of routine vaccinations in rich countries.

Rwanda became one of the first developing countries to launch a national pneuomcoccal immunization campaign in April.

Several drug firms including Merck and GlaxoSmithKline make Hib vaccines, which the non-profit Global Alliance for Vaccines and Immunization (GAVI) provides to 35 African nations.

(Editing by Michael Roddy) "

[Popeye82]

Iran wants new nuclear fuel talks, deepening doubts - Reuters, VIENNA - 02 NOV 2009 14:05 GMT

- By Sylvia Westall -

- VIENNA (Reuters) - Iran wants more talks on a U.N.-drafted nuclear deal because it needs guarantees it will receive reactor fuel, a senior official said Monday, adding to doubts that a standoff with big powers can be ended soon. -
http://uk.reuters.com/article/idUKL233841820091102

[Popeye82]

North Korea calls for direct talks with U.S. - Reuter, SEOUL - 02 NOV 2009 06:23 GMT

- By Jack Kim -

- SEOUL (Reuters) - North Korea called on Monday for direct talks with its long-time foe, the United States, and gave the clearest signal so far it was ready to return to nuclear disarmament talks it has boycotted for almost a year. -
http://uk.reuters.com/article/idUKTRE5A109W20091102

"SEOUL (Reuters) - North Korea called on Monday for direct talks with its long-time foe, the United States, and gave the clearest signal so far it was ready to return to nuclear disarmament talks it has boycotted for almost a year.

The comments follow last week's rare visit by a North Korean official to the United States and what has been a "charm" offensive by the ostracised state which some analysts say is looking increasingly desperate for finance and aid.

"The conclusion we have reached is that the direct parties, which are the North and the United States, must first sit down and find a rational solution," a Foreign Ministry spokesman was quoted as saying by the official KCNA news agency.

"Now that we have shown the generosity of stating the position that we would be willing to talk to the United States and hold multilateral talks including the six-way talks, it is time for the United States to make a decision."

The comments were the strongest so far on the secretive state's willingness to return to talks it walked out on last December.

Last month, leader Kim Jong-il said he would consider rejoining the talks with China, Japan, Russia, South Korea and the United States, provided it had direct discussions with Washington.

U.S. academics and former officials said on Friday after meeting Pyongyang's second ranking nuclear envoy that the North appeared to be more open to resuming the six-way talks on its nuclear programme.

North Korea's Ri Gun met the U.S. special envoy to disarmament talks in the past week in rare contacts in the United States, viewed as prelude to a visit to Pyongyang by senior U.S. officials.

Pyongyang has demanded direct talks with Washington as the best way to resolve hostility it argues has given it no option but to build an atomic arsenal.

However, the United States has said there would be no negotiations outside the six-way forum.

A well-placed diplomatic source in Seoul said it was not clear whether there has been a fundamental shift in the North's position to abandon its nuclear programme if the price is right.

"North Korea's financial plight likely has led to its charm offensive but we don't know if that means it is ready to make major concessions on its nuclear arms plans, he said.

Destitute North Korea has been reaching out to its traditional foes after being hit by U.N. sanctions to punish it for its second nuclear test in May. The sanctions were aimed at cutting into its vital revenue source of overseas arms sales.

(Additional reporting by Jon Herskovitz; Editing by Jonathan Thatcher and Jeremy Laurence) "

[Popeye82]

Britain seeks to end 5 years of frost with Russia - Reuters, MOSCOW - 02 NOV 2009 13:32 GMT

- By Conor Sweeney -

- MOSCOW (Reuters) - Britain and Russia said on Monday they would try to mend frosty political ties but sparred over Moscow's refusal to extradite a former KGB bodyguard who is suspected in the murder of a Kremlin foe in London. -
http://uk.reuters.com/article/idUKTRE5A128X20091102

[Popeye82]

Thinking negatively can boost your memory - Reuters, SYDNEY - 02 NOV 2009 08:00 GMT

- SYDNEY (Reuters) - Bad moods can actually be good for you, with an Australian study finding that being sad make people less gullible, improves their ability to judge others and also boosts memory. -
http://uk.reuters.com/article/idUKTRE5A111720091102

"SYDNEY (Reuters) - Bad moods can actually be good for you, with an Australian study finding that being sad make people less gullible, improves their ability to judge others and also boosts memory.

The study, authored by psychology professor Joseph Forgas at the University of New South Wales, showed that people in a negative mood were more critical of, and paid more attention to, their surroundings than happier people, who were more likely to believe anything they were told.

"Whereas positive mood seems to promote creativity, flexibility, cooperation, and reliance on mental shortcuts, negative moods trigger more attentive, careful thinking paying greater attention to the external world," Forgas wrote.

"Our research suggests that sadness ... promotes information processing strategies best suited to dealing with more demanding situations."

For the study, Forgas and his team conducted several experiments that started with inducing happy or sad moods in their subjects through watching films and recalling positive or negative events.

In one of the experiments, happy and sad participants were asked to judge the truth of urban myths and rumours and found that people in a negative mood were less likely to believe these statements.

People in a bad mood were also less likely to make snap decisions based on racial or religious prejudices, and they were less likely to make mistakes when asked to recall an event that they witnessed.

The study also found that sad people were better at stating their case through written arguments, which Forgas said showed that a "mildly negative mood may actually promote a more concrete, accommodative and ultimately more successful communication style."

"Positive mood is not universally desirable: people in negative mood are less prone to judgmental errors, are more resistant to eyewitness distortions and are better at producing high-quality, effective persuasive messages," Forgas wrote.

The study was published in the November/December edition of the Australian Science journal.

(Writing by Miral Fahmy, editing by Belinda Goldsmith) "

[Popeye82]

Oil company Denbury to buy Encore for $3.2 billion - Reuters, NEW YORK - 02 NOV 2009 04:54 GMT

- NEW YORK (Reuters) - Denbury Resources Inc has agreed to buy Encore Acquisition Co for $3.2 billion to create one of North America's largest oil production and exploration companies. -
www.reuters.com/article/innovationNews/idUSTRE5A01TM20091102

[Popeye82]

Goldman in talks to buy Fannie tax credits: report - Reuters, NEW YORK - 02 NOV 2009 03:33 GMT

- NEW YORK (Reuters) - Goldman Sachs Group Inc is in talks to buy millions of dollars of tax credits from Fannie Mae, but the U.S. Treasury could block the deal, The Wall Street Journal reported on Sunday. -
www.reuters.com/article/wtUSInvestingNews/idUSTRE5A107W20091…

[Popeye82]

Metro loses interest in buying Karstadt stores: report - Reuters, FRANKFURT - 01 NOV 2009 14:40 GMT

- FRANKFURT (Reuters) - German retailer Metro is increasingly losing interest in acquiring the stores of Karstadt, the department store unit of insolvent Arcandor , a German newspaper said on Sunday, citing sources. -
www.reuters.com/article/innovationNews/idUSTRE5A011R20091101

[Popeye82]

Panasonic to launch Sanyo tender offer Thursday: report - Reuters, TOKYO - 01 NOV 2009 07:29 GMT

- TOKYO (Reuters) - Panasonic Corp will launch its tender offer for shares of smaller rival Sanyo Electric Co as early as Thursday, the Nikkei newspaper said, after the deal won approval from Chinese regulators. -
www.reuters.com/article/innovationNews/idUSTRE59U0CJ20091101

[Popeye82]

Hyosung asks for extending Hynix bid deadline - Reuters, SEOUL - 01 NOV 2009 07:28 GMT

- SEOUL (Reuters) - Hyosung said on Sunday that it had asked for an extension to the deadline for its bid to take over Hynix Semiconductor , the world's No.2 memory chip maker. -
www.reuters.com/article/innovationNews/idUSTRE5A00DD20091101

[Popeye82]

Millrock Resources Project Generator Strategy - ML - Monday, November 2, 2009

- By James West -
www.midasletter.com/news/09110201_Millrock-resources-project…

[Popeye82]

"Wofür wir Erdöl brauchen!
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Am letzten Donnerstag haben wir uns mit der Unterscheidung der verschiedenen Rohölsorten beschäftigt und die Gründe erörtert, welche für die unterschiedlichen Preise der einzelnen Rohölsorten ausschlaggebend sind. Je geringer die Dichte und der Schwefelgehalt eines Rohöls, desto geringer ist der technische Aufwand in den Raffinerien, desto höher also die Qualität des Rohöls und desto höher sein Preis.

Heute möchte ich mich zunächst den Raffinerieprodukten und damit den vielen Verwendungsmöglichkeiten des Rohstoffs, den wir unter dem Begriff Erdöl zusammenfassen, widmen.

Sie alle wissen, dass Erdöl nicht gleich Erdöl ist. Je nach der chemischen Zusammensetzung aus unterschiedlich langen Kohlenwasserstoffketten und weiteren Anteilen von zum Beispiel Schwefel und Nitraten entsteht eine andere Qualität an Rohöl, mit anderen Eigenschaften, und unterschiedlichen Anforderungen an die Raffinerien, um die gewünschten Produkte durch Destillations-, Konvertierungs-, und andere chemische Prozesse herzustellen.


Erdölprodukte

Treibstoffe:

In erster Linie denkt man bei Erdölprodukten natürlich an die Brennstoffe, wie Benzin, Diesel, Kerosin und Flugbenzin. Darüber hinaus natürlich die verschiedenen Heizöle.

Überdies ist aber auch das Flüssiggas, oder LPG (liquefied petroleum gas) ein Erdölprodukt. Unter LPG - nicht zu verwechseln mit dem verflüssigten Erdgas LNG - versteht man die verflüssigten Gase Propan und Butan (oder deren Gemische), welche unter relativ geringem Druck in flüssigem Aggregatzustand verbleiben. Flüssiggas, welches zum Beispiel in Feuerzeugen, Klimaanlagen oder in der bekannten (Propan/Butan-) Campinggasflasche zum Einsatz kommt, wird aber auch Autogas genannt. Tatsächlich kann das Propan/Butangasgemisch in herkömmlichen Ottomotoren als Kraftstoff verbrannt werden. PKWs können relativ unkompliziert auf die Verbrennung von Flüssiggas umgerüstet werden. Gegenwärtig gibt es in Deutschland circa 5.570 Tankstellen an welchen Flüssiggas getankt werden kann. Es handelt sich bei Autogas, aber keineswegs um das herkömmliche Verständnis von Erdgas, sondern um ein Erdölprodukt. (Dennoch wird Erdgas natürlich auch in Erdöllagerstätten gefördert und als CNG oder LNG, in Deutschland unter der Bezeichnung H-Gas oder L-Gas als Fahrzeugtreibstoff genutzt. Gegenwärtig gibt es in Deutschland etwa 852 Erdgastankstellen. )


Andere Erdölprodukte:

In Raffinerien werden aber nicht nur Treibstoffe hergestellt. Es gibt noch eine ganze Reihe anderer Erdölprodukte wie die Alkene, die ein wichtiger Ausgangsstoff für andere Produkte sind. Aus ihnen kann zwar auch Treibstoff gewonnen werden, sie sind aber zudem der Ausgangsstoff für die Herstellung von Kunststoffen, Waschmittelzusätzen, Epoxidharzen, Polypropylen und mehr.

Ebenso werden aus Erdöl natürlich Schmierstoffe hergestellt, zur Verwendung in Motorölen und Maschinen.

Auch Paraffin -Wachs ist ein Erdölprodukt, welches mit vielen Verwendungsmöglichkeiten aufwartet: Kerzen, in der Medizin und Körperpflege, in der Lebensmittelindustrie und der Textilindustrie und mehr...

Weiterhin werden natürlich aus Erdöl Petrochemikalien gewonnen, wie Aromaten (auch Benzol). Diese chemischen Stoffe werden in der Petrochemie als wichtige Verbindungsstoffe, für die Herstellung weiterer Industrieprodukte wie synthetisches Gummi, Medikamente und Plastik verwendet.

In Erdöl-Raffinerien fallen im Zuge von Entschwefelungsprozessen, Schwefel und Schwefelsäure an. Schwefelsäure ist eine der wichtigsten Chemikalien in der chemischen Industrie und ein Hauptbestandteil für die Produktion von Phosphat -Düngemitteln. Schwefelsäure wird aber auch in der Lebensmittelindustrie genutzt, ebenso wie in der Eisen-und Stahlherstellung. Mithilfe der Schwefelsäure können Erze aufgeschlossen werden und Oxidationsprozesse an Metallen beseitigt werden. Schwefelsäure wird ebenfalls zur Herstellung von Titandioxid verwendet.

Bitumen ist eines der bekanntesten Erdölprodukte. Aus Bitumen stellt man den Baustoff Asphalt her, der heute der wichtigste Rohstoff für den Straßenbau ist. In Deutschland sind etwa 95% der Straßen mit einer Asphaltdecke ausgestattet. Neben sehr zähflüssigen Erdölsorten, wie ein in Venezuela gefördertes Rohöl, die sich hervorragend für die Herstellung von Bitumen eignen, gibt es aber auch natürliche Bitumenvorkommen auf der Welt. Das bekannteste ist Pitch Lake auf der Insel Trinidad, aber auch in der russischen Republik Tatarstan wurde vor einiger Zeit eine bedeutende Bitumenlagerstätte entdeckt.

Nicht zu verwechseln ist Bitumen mit Teer, welches aufgrund seiner die Gesundheit schädigenden Eigenschaften nicht mehr im Straßenbau eingesetzt wird. Teer wird zwar hauptsächlich aus Kohle gewonnen, kann aber auch aus Erdöl hergestellt werden. Heute findet Teer fast nur noch als spezielles Präparat in der Dermatologie, zum Beispiel in der Psoriasis-Therapie, Verwendung.


Unkonventionelle Erdöllagerstätten
von Miriam Kraus

Der größte Teil der heute bekannten Erdölreserven wird aus konventionellen Lagerstätten gewonnen.

Daneben gibt es aber auch eine noch unberührte große Ressource an Erdöl in unkonventionellen Lagerstätten". Unkonventionell weil diese Ressourcen technisch aufwändiger zu fördern sind oder ihre Förderung noch gar nicht möglich ist, oder aber weil die Förderkosten um ein Vielfaches höher liegen.


Ölsand

Das beste Beispiel ist der inzwischen immer bekannter werdende Ölsand, dessen Förderung technisch und an Kosten aufwändiger ist, der aber bei steigenden Ölpreisen zunehmend eine tragende Rolle spielt. Ölsand ist im Grunde Sandstein mit einem Anteil an Schwerölen, kann zwar im Tagebau gefördert werden, weist aber einen hohen Energieaufwand bei der Verarbeitung auf.


Ölschiefer

Ölschiefer ist ein Sedimentgestein welche Kerogen enthält. Kerogen ist eine Vorstufe des Erdöls und muss um Erdöl daraus zu gewinnen, nach dem Abbau zunächst stark erwärmt werden, um den geologischen Prozess, der natürlicherweise zur Bildung von Erdöl geführt hätte, nachzuholen. Dieser Aufwand führt bislang zu einem eher geringen Energieertrag.


Tiefseeöl

Auch unter dem Meer fanden natürlich im Laufe der Erdgeschichte geologische Prozesse statt. Das so genannte Deep Water Oil, wird bislang nur in den Schelfregionen, also in Küstennähe aus einer Tiefe von 200 bis 600 Meter gefördert. Die bekanntesten Standorte befinden sich im Golf von Mexiko und vor den Küsten Brasiliens, Angolas, Nigerias und Indonesiens. Die Kosten der Förderanlagen sind sehr hoch, hinzu kommen höhere Risiken durch widrige Wetterbedingungen. Vom gegenwärtigen Stand dürfte das Fördermaximum dieser Anlagen ebenfalls in einigen Jahren erreicht werden.


Polares Öl

Ebenfalls ist die Förderung in den Polargebieten, also in Alaska und Sibirien sehr aufwändig und teuer. Teilweise müssen, wie in Sibirien ganze Anlagen während der kältesten Monate außer Betrieb gestellt werden, da sie durch Eis behindert werden.

Es bleibt abzuwarten, wie schnell die technische Entwicklung voranschreitet, insbesondere in Bezug auf die Tiefsee-und Polarölförderung. Gerade in China und Indien richtet man verstärkt das Augenmerk auf die Möglichkeiten der Tiefseeförderung.

Eine Verbesserung der technischen Möglichkeiten ist ebenfalls in Bezug auf kommende Fördermöglichkeiten am Nordpol ein Muss.

Darüber hinaus muss angemerkt werden, dass ganze Tiefseeregionen noch gar nicht erforscht sind, wie im Übrigen die Tiefseegebiete am Nordpol, welche sich die Anrainerstaaten trotz allem bereits zu sichern versuchen.

So long liebe Leser...das war es für heute....morgen wollen wir uns dann endlich auch mit den Investitionsmöglichkeiten" beschäftigen und die Reihe damit abschließen....ich wünsche Ihnen noch einen schönen Montag-Abend uns bis morgen...

Ihre Miriam Kraus "

[Popeye82]

Explorers chase Greenland spoils - IC - 21 October 2009

- Martin Li -
www.investorschronicle.co.uk/Companies/ByEvent/Risk/Analysis…

"Lured by the prospect of vast, untapped mineral wealth, explorers are laying claim to oil and gas and mining rights in Greenland, one of the last frontiers of resources exploration. After 300 years of Danish rule, Greenland is moving towards independence. This will give it control over its prodigious natural resources, which it needs to exploit to generate enough income to replace the block subsidy it currently receives from Denmark.


Earlier this month, Ove Karl Berthelsen, minister for industry and mineral resources, announced that the pre-qualification interest from 13 oil companies in Greenland's next tendering round in 2010 was "overwhelming". The scramble for Greenland acreage isn't surprising given its sheer prospectivity. The US Geological Survey estimates that the oil and gas that remains to be found in the Arctic Circle may total 90bn barrels of oil and 1,669 trillion cubic feet of natural gas, with a significant proportion of this believed to lie in and around Greenland.

Cairn Energy was one of the first to recognise Greenland's potential. Having successfully brought its substantial Rajasthan discovery into production, it set its sights firmly northward by acquiring eight exploration licences there. A recent farm-out deal gives Malaysian firm Petronas a 10 per cent interest in Cairn's six operated offshore blocks, in addition to which Petronas is increasing its stake in Cairn India to 14.94 per cent. The total consideration for these transactions is $310m (£187m), which Cairn will use for further exploration in Greenland.

Miners, too, are targeting Greenland. Aim minnow Angel Mining (formerly Angus & Ross) flirted with insolvency as it struggled to finance the restart of the potentially transformation Black Angel lead and zinc mine, which has been closed for some years. Its shares have recently soared since a refinancing and the $1.5m acquisition of the Nalunaq gold mine, also in Greenland, that promises near-term production and cash flow. Meanwhile, Oslo-listed London Mining is planning to join Aim - it has four substantial iron ore projects, one of which lies in Greenland and is targeting annual production of over 5m tonnes a year. "

[Popeye82]

DOE to fund $338m for geothermal energy projects - ReCharge - Nov 2, 2009
www.rechargenews.com/energy/geothermal/article197539.ece?utm…


alle Projekte/Förderungen:
www.energy.gov/news2009/documents2009/338M_Geothermal_Projec…

[Popeye82]

Tarsis Samples 82.2 g/t Gold, 5.97% Copper and 888 g/t Silver on Porphyry Target at Prospector Mountain, Yukon - Nov 02, 2009
www.marketwire.com/press-release/Tarsis-Resources-Ltd-TSX-VE…

[Popeye82]

Canada Lithium Doubles Conceptual Target Estimate To 29-30 Million Tonnes Grading 1.1%-1.2% Li2O - Nov 2, 2009
www.canadalithium.com/s/NewsReleases.asp?ReportID=370061&_Ty…

[Popeye82]

Technical challenges to reducing sugar - FoodNavigator/Tate &Lyle, Sweetener Technology Development - Jun 17, 2009
www.foodnavigator-usa.com/Science-Nutrition/Technical-challe…

[Popeye82]

Global food use of bulk and high intensity sweeteners - FoodNavigator - 24-Sep-2009

- By Jess Halliday -
www.foodnavigator-usa.com/Publications/Food-Beverage-Nutriti…

"Some 70.4 million tonnes of sweeteners were used by the global food and beverage industry in 2008, including sugars. But which sweeteners are most used, in volume terms?


Humans are predisposed to like sweet foods, and sugar (sucrose) is far and away the most popular sweetener added to foods. But rising obesity rates are causing more attention to be paid to products' sugar content, and the development of ‘light’ foods, with fewer calories, is a major driver for new product development.

This means that there is massive interest in low or zero calorie ingredients that can provide the same or similar sweetness in a healthier product. But reducing sugar is rarely so simple as to just remove the sugar and replace it directly with a sweetener. Sugar performs other technical functions in formulations as well as giving it the sweet edge, such as bulking it out or giving it the right texture.

Moreover, different sweeteners have different taste profiles, so to meet consumer taste expectations for a particular product several sweeteners are often blended.

And just to complicate matters even more, consumers in different countries and regions have slightly different ideas about what the most pleasant sweet taste is.

There are two main categories of sweeteners used in foods and beverages: bulk sweeteners and polyols; and high intensity sweeteners.

Bulk sweeteners, including sugars, are also known as nutritive sweeteners, have a technical role in the food as well as sweetening it. They contribute to the bulk, the texture and the viscosity of foods.

High intensity sweeteners, also called non-nutritive, do not have a technical role in addition to their sweetening capacity. This means that if any of the attributes normally provided by sugars is required, the chosen high intensity sweetener will need to be blended with a bulk sweetener or some other bulking agent.

High intensity sweetener tend to be more expensive than bulk, but are used in a far smaller quantities.

Euromonitor International data put world use of high intensity sweeteners at 77183.4 tonnes in 2008 – of which the most popular five, saccharin, aspartame, acesulfame K, sucralose and cyclamate – make up the lion’s share.




Euromonitor found that 70336474.9 tonnes of sugars and bulk sweeteners were used.

The top non-sugarbulk sweeteners made up 700579 tonnes.

"

[Popeye82]

USDA report examines organic sector’s ‘revamped marketing’ - FoodNavigator - 02-Oct-2009

- By Caroline Scott-Thomas -
www.foodnavigator-usa.com/Financial-Industry/USDA-report-exa…
www.ers.usda.gov/Publications/EIB58/EIB58.pdf

"The US Department of Agriculture (USDA) has compiled a report on the marketing of organic food, which it says aims to respond to a dearth of information on the fast-changing sector.

Although certified organic acreage has doubled in the US since 1997, organic food sales have quintupled over the same period, from $3.6bn to $21.1bn last year. US organic demand has outstripped supply since the early 1990s – when many organic suppliers were forced to sell their products on conventional markets due to a lack of consumer demand.

But this new USDA report says that the way organic foods are sold has undergone a dramatic shift; in 1997, most organic foods were sold through natural food stores, but by 2008, more than half of all organic foods were sold through conventional supermarkets, club stores and big-box stores.

“The retailing of organic products in 2008 bears little resemblance to retailing organic products in the late 1990s,” the report said.

And the type of organic food that people are buying has also broadened. Although produce still accounts for most of the organic food sold in the US – at 37 percent – organic packaged and prepared foods, beverages, dairy, breads, and grain now account for 63 percent of organic food sales, up from 54 percent in 1997.


Changing face of organics

The report said that American consumers’ appetite for organic foods “revamped organic food marketing” as those manufacturers that had traditionally sold organic foods faced new competition from conventional retailers, and others were swallowed up by conventional firms.

The proportion of adults buying organic foods every week now stands at 19 percent, up from just three percent in the late 1990s.

“The effect of structural change at the retail and manufacturing levels has been twofold: there are more firms participating in the sector and the average size of these firms is larger,” it said.


Pricing problems

However, price remains a barrier for many people, with 73 percent saying that organic foods are too expensive, although it is less prohibitive in some sectors, such as baby food and fresh produce.

“However, anecdotal evidence suggests that, in the second half of 2008, consumers began substituting cheaper conventional products and private label organic products for branded organic products in response to weakening macroeconomic conditions,” the report said.

It also examined the inability of organic farms to keep up with demand for organic ingredients from food manufacturers and consumers.

The USDA said that this was “for reasons not completely understood” although it added: “Potential organic farmers may opt to continue using conventional production methods because of social pressures from other farmers nearby who have negative views of organic farming, or because of an inability to weather the effects of reduced yields and profits during the transition period.”

The number of organic product launches increased from 290 in 1997 to 1,107 in 2007, when the most frequent launches were beverages, prepared foods, and snacks.

Private label organic launches increased from 35 in 2003 to 540 in 2007, USDA said.

The full report can be accessed online here . "

[Popeye82]

Precious &Base Metals Commentary - 3Q Earnings Preview - AJ - Nov 3, 2009
http://andrewjohns.ca/assets/sector_calls/Mining_20091102.pd…

[Popeye82]

Taseko Announces a New 7.7 Million Oz Gold and 3.6 Billion Lb Copper Reserve at Prosperity
On 2:30 pm EST, Monday November 2, 2009
http://finance.yahoo.com/news/Taseko-Announces-a-New-77-cnw-…

[Popeye82]

Trevali Resources Corp.: Surface Sampling Significantly Expands Puajanca Zone
On 1:47 pm EST, Monday November 2, 2009
http://finance.yahoo.com/news/Trevali-Resources-Corp-iw-2522…

[Popeye82]

Waseco Resources Inc.: AREVA Completes $2 Million Earn-In
On 11:25 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Waseco-Resources-Inc-AREVA-iw-…

[Popeye82]

Columbia Yukon Signs Traditional Knowledge Protocol with First Nations
On 11:15 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Columbia-Yukon-Signs-iw-761940…

[Popeye82]

Alberta Star to Acquire Controlling Interest in the Sterling Mining Company
On 9:00 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Alberta-Star-to-Acquire-iw-140…

[Popeye82]

Far West Mining Closes $10,000,000 Private Placement
On 9:00 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Far-West-Mining-Closes-iw-4011…

[Popeye82]

Tournigan Closes $5.5 Million Dalradian Sale
On 8:30 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Tournigan-Closes-55-Million-bw…

[Popeye82]

Bayswater Finds New Uranium Occurrences and Defines Drill Targets Along Significant Uranium Trend at Boiteau Lake, Central Mineral Belt, Labrador
On 7:30 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Bayswater-Finds-New-Uranium-bw…

[Popeye82]

Wits Basin Provides Update on Iron Ore Joint Venture in China
On 7:02 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Wits-Basin-Provides-Update-on-…

[Popeye82]

Bard Ventures Ltd.: 2009 Drilling Commences
Lone Pine Molybdenum Project
On 7:00 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Bard-Ventures-Ltd-2009-iw-2138…

[Popeye82]

Recognizing Higher Long Term Gold Outlook, Greystar Resources to Consider Alternative Processing Methods to Boost Economic Returns From Intermediate Sulphide Ore at Angostura
On 2:00 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Recognizing-Higher-Long-Term-i…

[Popeye82]

Selkirk Shareholders Approve Merger with Imperial Metals Corporation
On 6:35 pm EDT, Friday October 30, 2009
http://finance.yahoo.com/news/Selkirk-Shareholders-Approve-i…

[Popeye82]

Banro provides update on construction preparation and exploration at its Twangiza gold project
On 8:30 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/Banro-provides-update-on-cnw-1…

[Popeye82]

International Tower Hill Continues to Expand the Livengood Gold Project, Alaska; Highlights: Sunshine Zone - 117m @ 1.2 g/t gold,
Northeast Zone - 114m @ 0.9 g/t gold, Money Knob Zone - 104m @ 1.0 g/t gold On 6:00 am EST, Monday November 2, 2009
http://finance.yahoo.com/news/International-Tower-Hill-iw-82…

[Popeye82]

Clean Global Energy - Major Joint Venture Agreement - Nov 2, 2009

+ Clean Global Energy Limited enters into Joint Venture Agreement to undertake a proposed US$400m Uuderground Coal Gasification project in Inner Mongolia, China;

+ The project is to be undertaken on a staged basis on Inner Mongolia Gu Xin Mining Co. Ltd, Beijing’s 1.8B tonne coal deposit in Inner Mongolia China;

+ Hong Kong Based Joint Venture Company to be established for the project and to undertake the capital raising activities for the project on the Hong Kong Stock Exchange;

+ Joint Venture Company to enter into a documented off-take agreement with Inner Mongolia Sukli Oil and Gas Development Co. Ltd for the supply of between 5-12million cubic meters of Syngas per day;

+ Joint Venture Company to exclusively engage and appoint Clean Global Energy Limited to design, operate and manage the Underground Coal Gasification plant under a separate commercial operating agreement.
http://stocknessmonster.com/news-item?S=CGV&E=ASX&N=467623

[Popeye82]

Favorable Heap Leach Amenability Tests Reconfirmed with 89% to 95% Gold Extraction at Lydian's Amulsar Discovery in Armenia - Nov 03, 2009
www.marketwire.com/press-release/Lydian-International-Ltd-TS…

[Popeye82]

Uranium Star to Present Green Giant Project at the 25th International Ferro-Alloys Conference - Nov 03, 2009
www.marketwire.com/press-release/Uranium-Star-Corp-OTC-Bulle…

[Popeye82]

East Asia Completes Planning for NI43-101 Resource Drilling at Miwah - Nov 03, 2009
www.marketwire.com/press-release/East-Asia-Minerals-Corporat…

[Popeye82]

Fortune Minerals announces agreement to purchase lands near Saskatoon, Saskatchewan for NICO refinery - Nov 3, 2009
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…

[Popeye82]

Magellan Extends Meio Zone at Coringa Project, Brazil - Nov 03, 2009
www.marketwire.com/press-release/Magellan-Minerals-Ltd-TSX-V…

[Popeye82]

ATAC Resources Ltd. Intersects 5.11 g/t Gold Over 70.80 Metres on Its Rau Gold Property - Nov 03, 2009
www.marketwire.com/press-release/Atac-Resources-Ltd-TSX-VENT…

[Popeye82]

Wavefront Technology Solutions Inc.: California Operator Executes Powerwave Agreement - Nov 03, 2009
www.marketwire.com/press-release/Wavefront-Technology-Soluti…

[Popeye82]

Alexco Announces Additional 2009 Drill Results From Lucky Queen, Keno Hill District: Drilling Intersects 4.23 Meters of 61.8 Ounces Per Ton Silver - Nov 03, 2009
www.marketwire.com/press-release/Alexco-Resource-Corp-TSX-AX…

[Popeye82]

Feasibility study for Chalice Gold’s Koko deposit to be completed mid-2010 - Mining Weekly, JOHANNESBURG - Nov 2, 2009

- Esmarie Swanepoel -
www.miningweekly.com/article/feasibility-study-for-chalice-g…

"JOHANNESBURG (miningweekly.com) – East-African focused Chalice Gold on Monday reported that an independent scoping study into its Koko gold deposit, in Eritrea, has found that the deposit had the potential to underpin a highly profitable gold mining operation.

The gold explorer said in a statement that it would now proceed with a full feasibility study, which was likely to be completed by mid-2010, based on a forecasted annual production of 110 000 oz, at a cash cost of $424/oz, over a six-year life.

The scoping study estimated that the Koka project would have capital costs of $97,8-million.

“The scoping study shows that Koka has the potential to be a lucrative project, and that it is based on a much lower gold price than is currently the case,” said Chalice executive chairperson, Tim Goyder.

“The cash costs will be low by world standards and the mining will be relatively straightforward, making Koka an extremely attractive project.”

Goyder noted that there was also significant potential to increase the size of the project by drilling the numerous exploration targets the company had at Zara.

The project is 80% owned by Chalice and 20% owned by Dragon Mining, while the Eritrean government was entitled to a 10% free carried interest. In addition, the Eritrean government had the right to purchase up to a further 30% in the project on financial terms to be agreed, and which was payable to the joint venture in consideration of diluting their respective interests. "

[Popeye82]

Banro expects to secure finance for DRC gold mine by June '10 - Mining Weekly, TORONTO - Nov 2, 2009

- Liezel Hill -
www.miningweekly.com/article/banro-expects-to-secure-finance…

"TORONTO (miningweekly.com) – Canadian gold junior Banro Corporation hopes to conclude a process to arrange debt finance for its Twangiza project, in the Democratic Republic of Congo, by early June 2010, the company said on Monday.

Banro announced in September that it had appointed Standard Chartered as the exclusive debt finance adviser for the project.

The firm has bought a gold plant, which is currently being refurbished in Australia and will be shipped to Mombasa, in Kenya, and then transported by road to the Twangiza site, where it will be erected and commissioned.

Design work for the enhanced throughput of the plant from one-million tons a year to 1,3-million tons has been completed, and the necessary additional parts will be manufactured and shipped from South Africa, Banro said.

The company plans to start mobilising equipment at Twangiza by year-end, so that construction activities begin in February 2010, following the peak rainy season.

The firm still expects to complete the first phase of the Twangiza project and pour the first gold in late December 2011.

Banro expects that annual production from the phase-one plant will be between 80 000 oz and 110 000 oz a year, at a total operating cost of less than $400/oz, it said in August.

Shares in the company declined 1,75% on Monday, to C$2,25 apiece by 15:59 in Toronto. "

[Popeye82]

Miranda Minerals’ Burnside project granted mining rights - Mining Weekly, JOHANNESBURG - Nov 2, 2009
www.miningweekly.com/article/miranda-minerals-burnside-proje…

"JOHANNESBURG (miningweekly.com) – South Africa’s Department of Mineral Resources has granted JSE-listed Miranda Minerals mining rights for its Burnside coal project, in KwaZulu-Natal.

The Burnside project, which had an indicated resource of 18,9-million tons and an inferred resource of 16,6-million tons, stretched over 4 540 ha.

Miranda Coal intended on drilling a further ten boreholes in 2010, which would suffice to upgrade its resource status to measured status, the company reported on Monday.

A prefeasibility study would be commissioned in 2010 to confirm management’s internal project valuation of R303-million attributable to Miranda Coal.

Miranda Coal’s 60% owned subsidiary Street Spirit Trading planned to submit a scoping study for the project by mid-November, while an environmental-impact assessment and an environmental management programme would be completed by April 2010.

The Burnside colliery was expected to start producing by mid-2011 with 25% of the resource expected to be exploitable by using opencast mining techniques.

“Burnside is contiguous to Uithoek and is the third and largest of Miranda Coal’s KZN projects to apply for a coal-mining right. At Sesikhona, we are expecting to make an announcement on our chosen mining contractor and offtake agreement before year-end and at Uithoek, we are expecting the mining right to be granted by early 2010. We then plan to place the colliery into production in the second half of 2010,” Miranda CEO Ron Nel said in a statement.

The coal-miner was planning on bringing one mine a year into production, with Sesikhona to start producing this year, Uithoek in 2010 and Burnside in 2011. "

[Popeye82]

"Der Run auf die letzten Rohstoffe und Agrarreserven hat begonnen
- Volkmar Michler -


Liebe Leserin, lieber Leser,

Hand auf Herz: Was fällt Ihnen ein, wenn Sie das Stichwort Afrika hören? Die meisten Menschen verbinden mit Afrika vermutlich ein Kontinent äußerster Armut, weitverbreiteten Krankheiten und allgegenwärtiger Gewalt.

Alle aufgeführten Punkte kann ich zunächst aus eigener Erfahrung bestätigen. Gerade die jüngsten Bilder, die sowohl im deutschen als auch französischen Fernsehen liefen, zeigen: Bei Soldaten aus Guinea sollte man immer äußerst vorsichtig sein. Ich habe es selbst erlebt, wenn betrunkene Soldaten nachts an einer improvisierten Straßensperre aus brennenden Autoreifen stehen und einem ein Gewehr vor die Nase halten. Wir waren an diesem Tag mit dem Fahrzeugs eines Entwicklungshelfers unterwegs, das dummerweise ein Autokennzeichen der Regierung hatte. Ausgerechnet an diesem Tag hatte die Armee Guineas keinen Sold bekommen ... zum Glück kam da gerade ein Jeep mit drei Weißen und einer Schwarzen vorbei.

Meine Schwägerin stammt aus diesem westafrikanischen Land, ich habe es deshalb mehrfach bereist. Das werde ich in nächster Zeit nicht mehr tun.

Denn was Anfang Oktober in der Hauptstadt Conakry passiert ist, kann man nur als Massaker bezeichnen. Im großen Fußballstadion von Conakry, das ich ebenfalls kenne, hat die Präsidialgarde ein regelrechtes Blutbad angerichtet. Dabei ist der selbsternannte Staatschef Camara überhaupt kein Präsident, zumindest kein gewählter. Gegen seine ursprüngliche Aussage will der übrigens von der Bundeswehr ausgebildete Camara nun doch nicht den Weg frei machen für Wahlen.

Dagegen rührt sich in Guinea aber eine Opposition, die sich den symbolträchtigen Unabhängigkeitstag zum Protest ausgesucht hat. Camara, ein Alkoholiker und Choleriker der übelsten Sorte, hat darauf hin das mit 50.000 Menschen gefüllte Stadion mit Gewehren und Bajonetten angreifen lassen. Knapp 160 Menschen wurde abgeschlachtet, etliche Frauen sollen auf offener Straße von der Präsidialgarde vergewaltigt worden sein.


Die nächste Generation der Schwellenländer

Eigentlich wollte meine Schwägerin in der nächsten Zeit ihre Familie in Conakry und in der zweitgrößten Stadt Labe besuchen. Ich kann ihr von diesem Besuch nur dringend abraten. Sie wird vermutlich schon am Flughafen erhebliche Probleme bekommen - es ist genau der Flughafen, der in der Vergangenheit für den Schmuggel von Blutdiamanten berühmt-berüchtigt war.

Gewalt, Unterentwicklung, Korruption - das gehört zweifelsohne zu Afrika. Doch es gibt auch eine ganz andere Seite Afrikas, die den schwarzen Kontinent zur nächsten Generation der Schwellenländer machen wird. Da bin ich mir ganz sicher.

Wissen Sie, wo die größten Gold- und Diamantenreserven der Welt liegen? Wo werden gewaltige Öl- und Gasvorkommen vermutet? Wo liegen in großen Mengen wichtige Industriemetalle, die zum Beispiel für Elektorautos dringenden benötigt werden? Die Antwort lautet: in Afrika. Mehr dazu erfahren Sie im nächsten Profit Radar

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

Small-Business Bankruptcy Filings Up 44% Year-over-year, Equifax Data Shows - Reuters, ATLANTA - Mon Nov 2, 2009
www.reuters.com/article/pressRelease/idUS166645+02-Nov-2009+…

[Popeye82]

India Buys IMF Gold to Boost Reserves as Dollar Drops (Update2) - Bloomberg - Nov 3, 2009

- By Thomas Kutty Abraham &Kim Kyoungwha -
www.bloomberg.com/apps/news?pid=20601091&sid=aa6oc6Wz9Ftg

" Nov. 3 (Bloomberg) -- India, the world’s biggest gold consumer, bought 200 metric tons from the International Monetary Fund for $6.7 billion as central banks show increased interest in diversifying their holdings to protect against a slumping dollar.

The transaction, equivalent to 8 percent of world annual mine production, was the IMF’s first such sale in nine years and propels India to the ninth-biggest government owner globally, according to figures from London-based research company GFMS Ltd. The country previously held 358 tons, the data show. The news was a “surprise because everybody was talking about China being the buyer,” said James Moore, an analyst at TheBullionDesk.com.

“The fall in the U.S. dollar seems to be pushing all the central banks to strengthen their portfolio with gold,” said N.R. Bhanumurthy, professor at the National Institute of Public Finance and Policy in New Delhi. “Gold is a safe store of value compared to the U.S. dollar.”

Gold for immediate delivery rose 0.2 percent to $1,061.48 an ounce at 1:20 p.m. in London and was less than 1 percent below its record $1,070.80 an ounce reached Oct. 14. India purchased the gold at an average price of about $1,045 an ounce, according to an IMF official on a conference call.


IMF Finances

The IMF sale accounts for almost half the 403.3 tons that the Washington-based lender in September agreed to sell as part of a plan to shore up its finances and lend at reduced rates to low-income countries. Asian nations, which have amassed stockpiles of foreign currency reserves since the 1998 financial crisis, have shown increased interest in diversifying out of U.S. assets as the dollar loses value against other currencies.

“The most important thing is that people want gold even at these prices,” said Ghee Peh, head of mining research, with UBS AG in Hong Kong. “There’s good support for prices for now” from the IMF’s disposal of bullion, he said.

The transaction involved daily sales from Oct. 19 to Oct. 30 at market prices and is in the process of being settled, the IMF said in a statement yesterday.

The purchase didn’t signify any loss of confidence in the dollar, nor did it show that the metal’s appeal was increasing, India’s Finance Minister Pranab Mukherjee said.


Loans to Poor

Proceeds from the sales and other IMF resources as well as individual contributors would help pay for discounted interest rates on loans to low-income countries, the IMF said in July. It plans to grant as much as $17 billion in extra loans to poor nations through 2014. The 403.3 tons the IMF agreed to sell amount to 1/8 of its stockpile.

Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said in an interview in July that he was urging the government to diversify its foreign-exchange reserves and hold fewer dollars. China and Russia have also stepped up calls for a rethink of how global currency reserves are composed and managed.

“There seems to be consensus among the central banks that it’s better to cut down on currency holdings and diversify into assets like gold, which has upside potential,” Krishna Reddy, a precious metal analyst at Way2Wealth Commodities Pvt., said in Mumbai. “The Reserve Bank of India gold purchase is a clear reflection of this belief.”


More Sales

Russia, China or Brazil may buy the rest of the IMF gold for sale, said Moore from the TheBullionDesk.com.

China, the world’s biggest gold producer, has increased reserves of the metal by 76 percent to 1,054 tons since 2003 and has the fifth-biggest holdings by country, Hu Xiaolian, head of the State Administration of Foreign Exchange, said in April.

The nation may purchase some of the 403.3 tons of gold being offered by the IMF, Market News International reported in September, citing two unidentified government officials.

“It’s more or less certain that government of India expects the U.S. dollar to weaken,” said Suresh Hundia, president of the Bombay Bullion Association Ltd., in an interview today. The purchase is “not so much about India betting gold prices will increase but that the dollar will fall. They are looking to diversify their foreign exchange reserves.”

India’s foreign-exchange reserves advanced $684 million to $285.5 billion in the week ended Oct. 23, the central bank said Oct. 30. That included foreign-currency assets of $268.3 billion, gold reserves of $10.3 billion and the special drawing rights with the IMF.


Off-Market Transactions

The lender has said it is ready to sell directly to central banks and later make transactions on the open market if necessary. The IMF official declined to say yesterday whether other central banks have expressed interest in purchases.

Given the “well-publicized concerns of many central banks over the level of their exposure to the U.S. dollar, further off-market transactions must be a clear possibility,” Aram Shishmanian, chief executive of the World Gold Council in London, said in a statement.

The IMF, which helped shore up economies from Pakistan to Iceland over the past year, has sold gold on several occasions. The last transaction was authorized in December 1999 and took place off-market between then and April 2000.

“Gold production has been declining for the past seven years, while demand, particularly the investment demand, has been growing steadily,” Way2Wealth’s Reddy said. “Central banks and even ordinary investors want to own more gold.”

To contact the reporters on this story: Sandrine Rastello in Washington at [e-mail]; Kyoungwha Kim in Singapore at [e-mail].
Last Updated: November 3, 2009 08:43 EST "

[Popeye82]

Wescorp Energy Set to Revolutionize Oil Industry - ML - Nov 3, 2009

- By James West -
www.midasletter.com/news/09110302_Wescorp-Energy-set-to-revo…

[Popeye82]

MONGOLIA – Xanadu accelerates program - ASIA Miner - Nov 3, 2009
www.asiaminer.com/magazine/latest/mongolia-xanadu-accelerate…

[Popeye82]

Mining News &Views - HansonWest House - Nov 3, 2009
www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August…

[Popeye82]

"Investieren in Öl
- Miriam Kraus -


Liebe Leserin, lieber Leser,

heute möchte ich mich zum Abschluss der Daily Reihe Investieren in Öl" den Möglichkeiten widmen, welche Anleger haben, um ins Schwarze Gold" zu investieren.

Wie meistens, ist es auch beim Erdöl möglich, auf verschiedene Arten zu partizipieren.


Futureshandel an den Warenterminbörsen

Wie Sie alle wissen, werden verschiedene Referenzölsorten an den Warenterminbörsen gehandelt. Die New Yorker Warenterminbörse NYMEX bietet zum Beispiel Futures-Kontrakte auf die nordamerikanische Rohölsorte WTI zum Handel an. An der Londoner Warenterminbörse ICE Futures Exchange können Futures-Kontrakte auf das Nordsee-Referenzöl Brent Crude gehandelt werden.

Die leichte, süße Rohölsorte Tapis, das australische und asiatische, in Malaysia geförderte Referenzöl, wird zum Beispiel dagegen zwar in Singapur gehandelt, allerdings nicht über eine klassische Warenterminbörse als Futures-Kontrakt. Der Preis dieses qualitativ hochwertigen asiatisch-pazifischen Rohöls wird durch ein unabhängiges Gremium errechnet, welches sich am tatsächlichen Nachfrage-und Angebotsverhältnis, bestimmt durch Produzenten, Raffinerien und Händler orientiert. Gegenwärtig gibt es allerdings Bestrebungen den Handel mit dem asiatischen Referenzöl an einer Futures-Börse zu ermöglichen.

In der jüngsten Vergangenheit haben wir uns bereits öfter mit den Grundlagen des Handels an einer Warenterminbörse beschäftigt. An dieser Stelle deshalb nur eine kure Zusammenfassung: Ein Future bezeichnet die Lieferung eines Basiswertes in der angegebenen Kontraktgröße und Qualität zu einem fixen Termin in der Zukunft. Der Wert eines Futures bestimmt sich grundlegend aus dem Spot-Preis und den Bestandhaltungskosten. Marktteilnehmer müssen eine Sicherheitsleistung oder Initial Margin hinterlegen. Sie beträgt einen Bruchteil des Kontraktwertes. Aufgrund der Erfordernis, nur einen Bruchteil des Kontraktwertes zu hinterlegen, funktioniert der Futures Handel als Hebelinstrument. Der eingesetzte Hebel hängt von der Kontraktgröße, dem Kontraktwert zum Einstiegszeitpunkt und der erforderlichen Sicherheitsleistung ab. Aufgrund der Hebelfunktionalität sind hohe Gewinne, aber auch hohe Verluste, die über das eingesetzte Kapital hinausgehen können möglich. Zudem besteht natürlich immer die Möglichkeit von Rollverlusten in einer Contango, wenn das Ziel nicht die Lieferung des Basiswertes ist.

Ebenfalls ist es möglich die Referenzölsorten WTI und Brent mittels CFDs mit Hebel zu handeln. Hier gelten die gleichen Risiken und Möglichkeiten.


Handel mittels Optionsscheinen

Grundsätzlich besteht die Möglichkeit des Optionshandels auf verschiedene Referenzölsorten. Beim Optionshandel erhält der Käufer das Recht, nicht aber die Pflicht einen Basiswert während eines festgelegten Zeitraums oder zum Ausübungszeitpunkt zu einem bestimmten Ausübungspreis zu kaufen (Call-Option) oder zu verkaufen (Put-Option).

Ebenso gibt es die Möglichkeit Optionsscheine auf die Referenzölsorten zu handeln. Optionsscheine werden über Banken vertrieben und in kleineren Losgrößen gehandelt. Hierbei ist kein Zugang zu einer Warenterminbörse erforderlich.

Allerdings sind beim Optionsscheinhandel im Gegensatz zum Optionshandel keine Leerverkäufe möglich.


Mini-Futures

Eine weitere Partizipationsmöglichkeit sind die so genannten Mini-Futures oder Turbos, welche im Jahr 2001 eingeführt wurden. Hierbei handelt es sich ebenfalls um Hebelprodukte, welche aber im Gegensatz zu den Optionsscheinen keinem Volatilitätseinfluss unterliegen. Sie haben zudem keine Laufzeitbegrenzung- unterliegen also keinem Roll-Risiko- und bilden die Preisentwicklung des Basiswertes direkt nach.

Mini Futures sind zudem mit einer Stopp-Loss Barriere ausgestattet. Diese soll sowohl den Anleger, als auch den Emittenten vor allzu großen Verlusten schützen. Wenn der Stopp Loss während des Handels erreicht wird, so wird automatisch die Position aufgelöst und der Restbetrag an den Anleger ausgezahlt.

Allerdings wird das Finanzierungslevel täglich um die Finanzierungskosten angepasst. Auf diese Weise gibt der Emittent seine Finanzierungskosten an den Anleger weiter. Verschiedene Banken bieten Mini-Futures auf WTI oder Brent an, sowie auch Mini-Future Zertifikate.


Investitionsmöglichkeiten in Erdöl
von Miriam Kraus


Steigender Beliebtheit erfreuen sich die Zertifikate

Mithilfe von Zertifikaten, die inzwischen in Hülle und Fülle von den Emittenten ausgegeben werden, ist es möglich sowohl auf den Rohstoff selbst, als auch verschiedene Sektoren der Industrie zu setzen.

Hier kann sowohl auf große Ölgesellschaften, als auch auf kleinere Förderer, Explorer, oder die verarbeitenden Sektoren gesetzt werden. Sogar die Investition in Einzelunternehmen die in bestimmten Sektoren der Förderung unkonventioneller Erdöllagerstätten tätig sind ist möglich, wie ein Ölsandzertifikat beweist.

Auch auf Mini-Futures werden wie oben bereist erwähnt Zertifikate angeboten.

Der Wert eines Zertifikates hängt von der Wertentwicklung seines inneren Wertes ab. Dieser innere Wert ergibt sich aus der Entwicklung des Basiswertes, also des Rohstoffs, des Index, oder der verschiedenen Einzeltitel mit ihrer unterschiedlichen Gewichtung die durch das Zertifikat abgebildet werden.

Es gibt verschiedene Typen von Zertifikaten von Discount über Bonus bis hin zu Knock-Out Zertifikaten, mit unterschiedlichen Ansätzen. (Der Unterscheidung verschiedener Zertifikatetypen werde ich mich in einem anderen Daily einmal widmen).


ETCs/ETFs

In Deutschland werden so genannte ETCs (besicherte Schuldverschreibungen), sozusagen als Antwort auf die ETF-Beliebtheit von verschiedenen Anbietern vergeben. Hier finden sich unter anderem ETCs auf Subindizes, in beiden Varianten, die wiederum die Entwicklung der Futures-Kontrakte wiedergeben.

Auch ETFs (Exchange Traded Funds) auf Öl gibt es natürlich zu kaufen. Zum Beispiel ETFs, die einen Index aus Ölaktien abbilden. Ausländische ETFs bilden auch die Entwicklung der Futures-Kontrakte ab - hier sollten Sie sich allerdings vergewissern, dass keine steuerlichen Nachteile auf Sie zukommen, falls der ETF in Deutschland "nicht zugelassen" ist, also seinen Veröffentlichungspflichten nicht nachkommt.


Partizipieren mithilfe von Aktien

Neben der direkten Investition in den Rohstoff Erdöl ist es natürlich auch möglich stattdessen auf die Wertentwicklung der Aktien von Produzenten, Explorationsgesellschaften oder Raffinerien zu setzen. Bei der Bewertung der produzierenden und explorierenden Unternehmen müssen grundsätzlich die vorhandenen Ölreserven mit einbezogen werden. Hier unterscheidet man zwischen drei Kategorien: den proven", probable" und possible reserves". Sie geben nicht nur Auskunft darüber wie hoch die Reserven sind, sondern auch unter welchen ökonomischen und technologischen Voraussetzungen das Rohöl gefördert werden kann. (Natürlich gilt es bei der Bewertung von Aktien noch eine ganze Reihe anderer Kriterien mit einzubeziehen: Finanzierungsmöglichkeiten; Schuldenlage; liquide Mittel; Kapitalfluss; Wachstum usw. usf.)

Für die Bewertung von Raffinerien sind grundsätzlich die Raffineriemargen, sowie auch der technologische Stand der Raffinerien mit ausschlaggebend.


Fonds

Wer eine Anlage in Ölunternehmen in Betracht zieht, kann natürlich stattdessen auch auf einen Energiefonds setzen. Diese Fonds investieren breiter gefächert in Einzeltitel die in der Produktion, Exploration, Verarbeitung oder im Vertrieb von Öl und Ölprodukten tätig sind. Bei einem Fonds sollten Sie natürlich, wie bei allen Finanzprodukten, auch auf die Kosten und zudem auf das Management und die bisherige Performance achten.

So long liebe Leser...damit möchte ich heute die Daily Reihe Investieren in Öl" beenden...ich hoffe Sie hatten ebenfalls Freude an der Daily Reihe und wünsche Ihnen einen schönen Abend und noch weiterhin viel Spaß bei der täglichen Nutzung von Rohöl und seinen Produkten ...;-)...bis morgen

Ihre Miriam Kraus "

[Popeye82]

EnCana Spinoff Cenovus Valued at C$21.3 Billion by Investors - Ocean Resources - 2009-11-03
www.ocean-resources.com/ournews.php?NewsID=8226

[Popeye82]

Vulcan Minerals updates Red Brook #2 - Ocean Resources - (2009-11-03)
www.ocean-resources.com/ournews.php?NewsID=8229

[Popeye82]

hatte ich schon länger unter Beobachtung:

Quickstep Holdings - signs MOU to Advance $700m plus JSF Contract - Nov 3, 2009

+ Quickstep signs Memorandum of Understanding (MOU) with global aerospace corporations Lockheed Martin and Northrop Grumman to build key components for the Joint Strike Fighter (“JSF”)

+ The proposed contract is valued at in excess of $700 million over 20 plus years

+ Signing of a final Long Term Agreement (“LTA”) scheduled for March next year

+ Other contracts to supply JSF components under discussion
http://stocknessmonster.com/news-item?S=QHL&E=ASX&N=467894

[Popeye82]

Capstone Mining Makes Strategic Investment in Nevada Copper
On 1:56 pm EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Capstone-Mining-Makes-iw-42264…

[Popeye82]

Colossus Minerals Commences Metallurgical Testing on Gold-Platinum-Palladium Mineralisation from the Central Mineralised Zone, Serra Pelada
On 1:29 pm EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Colossus-Minerals-Commences-iw…

[Popeye82]

Platinex and Ontario Mediate Over Big Trout Lake Property
On 10:50 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Platinex-and-Ontario-Mediate-i…

[Popeye82]

Fortune Minerals announces agreement to purchase lands near Saskatoon, Saskatchewan for NICO refinery
On 10:03 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Fortune-Minerals-announces-cnw…

[Popeye82]

Franc-Or Resources Corporation and Crocodile Gold Inc. Announce Completion of Business Combination
On 9:20 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/FrancOr-Resources-Corporation-…

[Popeye82]

Valley High Ventures Ltd.: Initial Drilling at Cordero Project, Mexico Returns 152 Metres Grading 80.6 g/t Silver, 0.61 g/t Gold, 1.41% Zinc and 1.22% Lead
On 9:00 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Valley-High-Ventures-Ltd-iw-33…

[Popeye82]

Norsemont Mining Closes C$20M Bought-Deal Financing
On 9:00 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Norsemont-Mining-Closes-C20M-c…

[Popeye82]

Initial Metallurgical Testing at Tournigan's Kuriskova Project Indicates 90% Uranium Recovery
On 8:30 am EST, Tuesday November 3, 2009
http://finance.yahoo.com/news/Initial-Metallurgical-Testing-…

[Popeye82]

ICRISAT’s village dynamics studies to help reduce poverty in the drylands - ICRISAT - Nov 3, 2009
www.icrisat.org/Media/2009/media20.htm

"Grassroots-based information articulating the voices of the poor can greatly help reduce poverty in the drylands. Along with this, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), supported by the Bill & Melinda Gates Foundation (BMGF) will further improve global understanding of the dynamics of rural poverty through the recently launched Village Dynamics Studies (VDS) project.

Seeking to improve the quantity and quality of village-based information for better decision-making, the five-year project will be implemented by ICRISAT together with National Centre for Agricultural Economics and Policy Research (NCAP) in the humid tropics of East India, and the International Rice Research Institute (IRRI) will implement it in Bangladesh in collaboration with Centre for Policy Dialogue (CPD) and SocioConsult ( BRAC).

According Dr William Dar, ICRISAT's Director General, the purpose of this unique project is to decrease the incidence and severity of absolute poverty by markedly increasing the availability of time-series data at the district, household and individual levels. Dar also emphasized that tracking poverty using the data to be collected by this project will further inform and advance policy dialogue for the drylands.

“Access to accurate data will shape future agricultural development strategies,” said Prabhu Pingali, Deputy Director of foundation's Agricultural Development initiative. “This project will give a voice to the poor and inform programs and policies that help smallholder farmers lift themselves out of hunger and poverty”, he added.

According to Dr MCS Bantilan, the Principal Scientist of the project, t his multi-disciplinary study builds on the unique databases already developed and will add considerable value to them. It will also provide a distinctive social science laboratory in each village under study.

Moreover, the project will draw the best and brightest in the social sciences globally to conduct research on the most impoverished regions of the developing world, and serve as an example for other national programs in developing countries.

The VDS project builds upon the earlier village level studies, an international public good that has been cited more than 15,000 times. Today, village level studies is considered as one of ICRISAT's “jewels” and cited for its significance in providing valuable insights on rural development pathways in meeting global development challenges. Indeed, village level studies provide the opportunity to periodically revisit the same households and villages over the years and serves as a fertile environment for the generation of ideas to help empower the poor of the drylands.

This grant to ICRISAT is part of the Bill & Melinda Gates Foundation Agricultural Development initiative, which is working with a wide range of partners to provide millions of small farmers in the developing world with tools and opportunities to boost their yields, increase their incomes, and build better lives for themselves and their families. The foundation is working to strengthen the entire agricultural value chain from seeds and soil to farm management and market access-so that progress against absolute poverty is sustainable over the long term. "

[Popeye82]

African seed producers seek regional action to fast track release of improved seeds to farmers - CGIAR - November 2, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=951

[Popeye82]

Carbon nanotubes are able to penetrate plant seed coat and dramatically affect seed germination and plant growth - SeedQuest/DoAS - Sep 22, 2009

- Mariya Khodakovskaya, Enkeleda Dervishi, Meena Mahmood, Yang Xu, Zhongrui Li, Fumiya Watanabe &Alexandru S. Biris -
www.seedquest.com/news.php?type=news&id_article=11061&id_reg…

[Popeye82]

"Reaping the Benefits: Science and the sustainable intensification of global agriculture" - Royal Society report calls for a £2 billion "Grand Challenge" research programme on global food security - RS, London - Oct 21, 2009
www.seedquest.com/news.php?type=news&id_article=11051&id_reg…
http://royalsociety.org/displaypagedoc.asp?id=35462

"The Royal Society, the UK's national academy of science, is calling for a £2 billion "Grand Challenge" research programme on global food security. A report [1] published today (21 October 2009) says that the UK should lead international research efforts if we are to achieve the massive increase in food crop production (at least 50 percent) that will be required by 2050 to meet global food demands without damaging the environment.

Predictions now put the world's population at 9 billion [2] people by 2050. The Royal Society emphasises the urgency of the challenge. Changing consumption patterns, the impacts of climate change and growing scarcity of water and land make the challenge of increasing agricultural yields worldwide even greater. Crop production methods will need to sustain the environment, preserve natural resources and support the livelihoods of farmers and rural populations around the world. The report examines the vital role that biological science, especially publicly-funded science, must play to intensify food crop production in a sustainable way.


Professor Sir David Baulcombe FRS, who chaired the Royal Society's study, said:

"We need to take action now to stave off food shortages. If we wait even five to ten years, it may be too late. Biological science has progressed in leaps and bounds in the last decade and UK scientists have been at the head of the pack when it comes to topics related to food crops. In the UK we have the potential to come up with viable scientific solutions for feeding a growing population and we have a responsibility to realise this potential. There's a very clear need for policy action and publicly-funded science to make sure this happens."

The Royal Society says that implementing a research programme that directs at least £200 million in funding annually for the next ten years to science that improves crops and sustainable crop management must be a Government priority. This would see the addition of at least £50 million to what is already spent on science for food-crops each year. The "Grand Challenge" programme should support areas of research that have been neglected in recent years including exploring new methods of crop management to increase yields and minimise environmental impact. It should also support the development of improved crop varieties by both conventional breeding and genetic modification.

The programme would be developed by Research Councils UK (RCUK) and bring together all research councils, the Technology Strategy Board, the Department for International Development (DFID) and the Department for Environment Food and Rural Affairs (DEFRA).

The report describes recent advances in research methods including the ability to determine the complete genome sequence of crop plants. It also assesses a wide range of science-based technologies and developments in biological science that are seen to have potential benefits for increasing crop yields. It also lays out the consequences and complications of innovation in food crops, taking into account environmental, social and economic perspectives. The range of possible solutions will be likely to make a difference across different timescales.


Examples discussed in the report include:

+ Short-term (less than 8 years): New approaches to crop management including modified irrigation regimes, seed treatments to protect against pests and diseases and agroecological approaches which manage the interactions between plants, animals, microorganisms and the physical environment within agricultural systems. For example, the push-pull' system for pest management in maize crops. The maize field is surrounded by a border of Napier grass which is more attractive to moths than the maize for laying their eggs. In addition, rows of maize are intercropped with rows of the forage legume silverleaf which repels stemborer moths away from maize.

+ Medium-term (9-16 years): Breeding and GM of new varieties of crops that are resistant to disease, drought, salinity, heat and toxic heavy metals. In Australia, new varieties of wheat with high water use efficiency have shown yield increases of 10 15%.

+ Longer-term (more than 16 years) : The development of nitrogen fixing cereals which will need less fertiliser, perennial crops which won't need constant replanting and C4 rice which would boost the efficiency of photosynthesis and dramatically increase yield.


Professor Baulcombe added:

"There is no panacea for ensuring global food security. Science-based approaches introduced alongside social science and economic innovations are essential if we're to have a decent chance of feeding the world's population in 40 years time. Technologies that work on a farm in the UK may have little impact for harvests in Africa. Research is going to need to take into account a diverse range of crops, localities, cultures and numerous other circumstances. "

The Royal Society highlights the need to maintain the UK's capacity to innovate. According to the report many Universities have closed down or reduced their teaching and research in agriculture and crop science causing a shortage of expertise in important topics. The report calls for Universities to work with funding bodies to the reverse the decline in relevant subjects and recommends that they look globally to address the skills gap, offering targeted subsidies to scientists in developing countries to visit the UK and work with UK researchers.

Scientific efforts need to run alongside intellectual property reforms so that innovation addresses the needs of poor people in developing countries, including subsistence farmers. Strong links should be set up between UK science and developing countries, funded by DFID, BBSRC and others. Scientists must work with farmers in developing countries to make sure that benefits are captured and accessible to poor people.


Professor Baulcombe concluded:

"Since the advent of the Green Revolution in the early 1960s, gross world food production has grown from 1.84 billion tonnes in 1961 to 4.38 billion tonnes in 2007, that's an increase of 138%. It's unmistakable that scientific development holds the key to ensuring future food security. The Green Revolution was built on decades of substantial global investment in agricultural research and if we are to overcome the challenge that now lies before us, we will need an even greater agricultural revolution."

The full report is available here.


[1] Reaping the Benefits: Science and the sustainable intensification of global agriculture (The Royal Society, 2009)
[2] United Nations, 2008 "

[Popeye82]

Heavier Regulation May do Little to Reduce Financial Risk - Research Recap - Nov 4, 2009
www.researchrecap.com/index.php/2009/11/03/heavier-regulatio…

[Popeye82]

Brookhaven National Laboratory scientists identify enzyme that could help grow biofuel crops in harsh environments - SeedQuest, New York - Oct 19, 2009
www.seedquest.com/news.php?type=news&id_article=11015&id_reg…

[Popeye82]

Chinese Leader Urges Australia To End 'mistrust' - TW - Monday, 2 November 2009
www.turkishweekly.net/news/92298/-chinese-leader-urges-austr…

[Popeye82]

U.S. Agriculture Secretary launches the National Institute of Food and Agriculture (NIFA) - SeedQuest, Washington - Oct 8, 2009
www.seedquest.com/news.php?type=news&id_article=10872&id_reg…

[Popeye82]

Nex Metals Explorations - Phase 2 JORC Resource Estimate, 12Mt for 432,000 oz of Gold - Nov 4, 2009
http://stocknessmonster.com/news-item?S=NME&E=ASX&N=467976

[Popeye82]

Australian Bauxite IPO Opens - Prospectus - Nov 4, 2009
http://stocknessmonster.com/news-item?S=HRS&E=ASX&N=571606

[Popeye82]

Plutonic Power Corporation Announces Closing of $70.35 Million Bought Deal - Nov 04, 2009
www.marketwire.com/press-release/Plutonic-Power-Corporation-…

[Popeye82]

Allana Resources Announces $2 Million Private Placement and a Strategic Off-Take/ Financing Deal With a Chinese Mining Group - Nov 04, 2009
www.marketwire.com/press-release/Allana-Resources-Inc-TSX-VE…

[Popeye82]

China Could Go Own Way with Iron Pricing, Rio Says - Mining Technology - 04 November 2009
www.mining-technology.com/news/news68932.html?mxmroi=1370053…

[Popeye82]

Nevada Environmental Ban Expanded - Mining Technology - 04 November 2009
www.mining-technology.com/news/news68891.html?mxmroi=1370053…

[Popeye82]

Geodex Announces Unit Private Placement - Nov 04, 2009
www.marketwire.com/press-release/Geodex-Minerals-Ltd-TSX-VEN…

[Popeye82]

Fortune Minerals updates NICO front-end engineering - Nov 4, 2009
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…

[Popeye82]

Sunridge Gold Provides Drilling Update on the Asmara Project - Nov 04, 2009
www.sunridgegold.com/s/PressReleases.asp?ReportID=370302

[Popeye82]

Nautilus Discovers Two New High Grade SMS Systems in the Bismarck Sea - Nov 04, 2009
www.marketwire.com/press-release/Nautilus-Minerals-Inc-TSX-N…

[Popeye82]

Riverstone Announces New Gold Zone at Karma - Nov 04, 2009
www.marketwire.com/press-release/Riverstone-Resources-Inc-TS…

[Popeye82]

Luiri Gold Completes C$7.69 Million Financing With Euroz Securities Limited - Nov 04, 2009
www.marketwire.com/press-release/Luiri-Gold-Limited-TSX-VENT…

[Popeye82]

"China hat Afrika längst entdeckt
- Volkmar Michler -


Liebe Leserin, lieber Leser,

Weiter geht es im Profit Radar zum Thema Afrika. Mitte der 90er Jahre konnte ich bei meinen ersten Westafrikareisen bereits erleben, was heute den westlichen Industrieländern zunehmend Unbehagen bereitet: Das zielgerichtete und konsequente Engagement Chinas in Afrika.

In Guinea so wie auch anderswo in Afrika tauchten vor mehr als 15 Jahren schon die ersten Chinesen auf. Nicht wie die Deutschen, um Entwicklungshilfe zu geben, nein, um Handel zu betreiben, Geschäfte zu machen, Straßen und Krankenhäuser zu bauen. So haben sich die Chinesen längst rechtzeitig wichtige Rohstoffe und Agrarflächen gesichert. Das ist sehr clever.

Ich möchte es einmal bewusst böse formulieren: Als autoritäres System kann sich China auch Politiker leisten, die nicht nur bis zur nächsten Wahl schielen. Denn es gibt in China keine Wahlen. Dafür agieren die Chinesen wesentlich langfristiger.


„China leistet einen positiven Beitrag für Afrika“

Seit der Jahrtausendwende grasen die energiehungrigen Chinesen nach Beteiligungen. Und dabei geht es nicht nur um Rohstoffe, sondern auch andere Branchen wie Mobilfunk, Tourismus oder Banken. Ein gutes Beispiel dafür aus dem letzten Jahr ist die 20%-Beiligung Chinas an einer der größten Banken Südafrika, der Standard Bank of South Africa, für rund 5,6 Mrd. US$. Dies hatte Signalwirkung für viele westliche Regierungen.

Im Auftrag der Bundesregierung hat sich die staatliche GTZ (Deutsche Gesellschaft für Technische Zusammenarbeit), der Hauptträger der deutsche Entwicklungshilfe Gedanken darüber gemacht, ob China „einen wirksamen Betrag zur nachhaltigen Entwicklung Afrikas" leistet oder ob es „China vor allem um den Zugriff auf Afrikas Rohstoffe und die Erschließung neuer Absatzmärkte" geht.

In einem faktenreichen, sehr umfangreichen Gutachten kommt die GTZ zu einem erstaunlichen Ergebniss: „Die chinesischen Interventionen wirken sich ingesamt positiv auf Afrikas Entwicklungsperspektive aus. China leistet wichtige Beiträge zum Ausbau der Infrastruktur, zur Erschließung bisher ungenutzter Resourcen und zur stärkeren Integration afrikanischer Volkswirtschaften in globale Wertschöpfungsketten." Gemeint ist damit zum Beispiel ein verstärkter, gleichberechtiger Handel. (...)

Weitere Informationen erhalten Sie im morgigen Profit Radar

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

CSIRO to Find New Opportunities for Australia’s Mines - Mining Technology - 05 November 2009
www.mining-technology.com/news/news68963.html?mxmroi=1370053…

[Popeye82]

Slovakian Parliament to Receive Uranium Mining Petition - Mining Technology - 05 November 2009
www.mining-technology.com/news/news68962.html?mxmroi=1370053…

"The Slovakian Parliament is anticipating a petition signed by more than 100,000 Slovak citizens who are against uranium mining.

Greenpeace spokesperson Lucia Szabová told the TASR newswire that they will present the petition to the Parliament’s December session, which requires more than 100,000 signatures for it to be discussed.

Green activists say they believe uranium mining endangers the Slovakian people who could be exposed to large quantities of radioactive material.

The petition was filed in September by Greenpeace and Friends of the Earth and Sozna and Brectan civic associations.

Greenpeace director in Slovakia Juraj Rizman said the civic initiative is the biggest environmental petition to be submitted in the history of Slovakia.

The petition is also the first instance where local environmental organisations are in negotiations with parliament on these issues, Rizman said.

In recent years, an increasing number of mining companies have been searching for uranium ore within Slovakia. "

[Popeye82]

ATAC Resources Ltd. Announces Private Placements Totalling $8.2 Million With Institutional Investors - Nov 05, 2009
www.globeinvestor.com/servlet/story/CCNM.20091105.565832_1/G…

[Popeye82]

New York files antitrust suit against Intel; Attorney-General Andrew Cuomo alleges ‘illegal threats and collusion' to dominate chip market - GI - Nov 04, 2009
www.theglobeandmail.com/report-on-business/new-york-files-an…

[Popeye82]

Almaden's Tarsis Discovers High-Grade Surface Gold Zone - Nov 05, 2009
www.marketwire.com/press-release/Almaden-Minerals-Ltd-TSX-AM…

[Popeye82]

South Korea says it will opt for higher emissions target; South Korea will drop its weakest option for a voluntary 2020 emissions target and instead choose one of two stricter options ahead of the climate change talks in Copenhagen in December - ReCharge - 05.11.09
www.rechargenews.com/business_area/politics/article197947.ec…

[Popeye82]

New Study Warns That Climate Change Could Create Agricultural Winners and Losers in East Africa; While Predicting Highly Variable Impacts on Agriculture by 2050, Experts Show that with Adequate Investment the Region Can Still Achieve Food Security for All - CGIAR, NAIROBI - November 4, 2009
www.cgiar.org/newsroom/releases/news.asp?idnews=958

"NAIROBI, KENYA (3 November 2009)—As African leaders prepare to present an ambitious proposal to industrialized countries for coping with climate change in the part of the world that is most vulnerable to its impacts, a new study points to where and how some of this money should be spent. Published in the peer-reviewed journal Agricultural Systems, the study projects that climate change will have highly variable impacts on East Africa’s vital maize and bean harvests over the next two to four decades, presenting growers and livestock keepers with both threats and opportunities.

Previous estimates by the study’s authors projected moderate declines in the production of staple foods by 2050 for the region as a whole but also suggested that the overall picture disguises large differences within and between countries. The new findings provide a more detailed picture than before of variable climate change impacts in East Africa, assessing them according to broadly defined agricultural areas.

“Even though these types of projections involve much uncertainty, they leave no room for complacency about East Africa’s food security in the coming decades," said the lead author of the new study, Philip Thornton of the International Livestock Research Institute (ILRI), which is supported by the Consultative Group on International Agricultural Research (CGIAR). “Countries need to act boldly if they’re to seize opportunities for intensified farming in favored locations, while cushioning the blow that will fall on rural people in more vulnerable areas.”

The researchers simulated likely shifts in cropping, using a combination of two climate change models and two scenarios for greenhouse gas emissions, together with state-of-the-art models for maize and beans, two of the region’s primary staple foods.

In the mixed crop-livestock systems of the tropical highlands, the study shows that rising temperatures may actually favor food crops, helping boost output of maize by about half in highland “breadbasket” areas of Kenya and beans to much the same degree in similar parts of Tanzania. Meanwhile, harvests of maize and beans could decrease in some of the more humid areas, under the climate scenarios used in the study. Across the entire region, production of both crops is projected to decline significantly in drylands, particularly in Tanzania.

“The emerging scenario of climate-change winners and losers is not inevitable,” said ILRI director general Carlos Seré. “Despite an expected three-fold increase in food demand by 2050, East Africa can still deliver food security for all through a smart approach that carefully matches policies and technologies to the needs and opportunities of particular farming areas.”

At the Seventh World Forum on Sustainable Development, held recently in Ouagadougou, Burkina Faso, African leaders announced a plan to ask the industrialized world to pay developing countries US$67 billion a year as part of the continent's common negotiating position for December’s climate talks in Copenhagen.

The ILRI study analyzes various means by which governments and rural households can respond to climate change impacts at different locations. In Kenya, for example, the authors suggest that shifting bean production more to the cooler highland areas might offset some of the losses expected in other systems.

Similarly, Tanzania and Uganda could compensate for projected deficits in both maize and beans through increased regional trade. In the Common Market for Eastern and Southern Africa (COMESA), maize trade is already worth more than US$1 billion, but only 10 percent of it occurs within the region. As grain prices continue to rise in global markets, several East African countries will be well positioned to expand output of maize and beans for regional markets, thus reducing reliance on imports and boosting rural incomes.

Where crop yields are expected to decline only moderately because of climate change, past experience suggests that rural households can respond effectively by adopting new technologies to intensify crop and livestock production, many of which are being developed by various CGIAR-supported centers and their national partners.

Drought-tolerant maize varieties, for example, have the potential to generate benefits for farmers estimated at $863 million or more in 13 African countries over the next 6 years, according to a new study carried out by the International Maize and Wheat Improvement Center (CIMMYT) and International Institute of Tropical Agriculture (IITA). Meanwhile, new heat-tolerant varieties of productive climbing beans, which are traditionally grown in highlands, are permitting their adoption at lower elevations, where they yield more than twice as much grain as the bush-type beans grown currently, according to Robin Buruchara of the International Center for Tropical Agriculture (CIAT).

In areas that face drastic reductions in maize and bean yields, farmers may need to resort to more radical options, such as changing the types of crops they grow (replacing maize, for example, with sorghum or millet), keeping more livestock or abandoning crops altogether to embrace new alternatives, such as the provision of environmental services, including carbon sequestration.

This latter option could become a reality under COMESA’s Africa Biocarbon Initiative, which is designed to tap the huge potential of the region’s diverse farmlands and other rural landscapes – ranging from dry grasslands to humid tropical forests – for storing millions of tons of carbon. The initiative offers African negotiators an appealing option in their efforts to influence a future climate change agreement.

“If included in emissions payment schemes, this initiative could create new sources of income for African farmers and enhance their resilience to climate change,” said Peter Akong Minang, global coordinator of the Alternatives to Slash-and-Burn (ASB) Programme at the World Agroforestry Centre. “Its broad landscape approach would open the door for many African countries to actively participate in – and benefit from – global carbon markets.”

“Rural people manage their livelihoods and land in an integrated way that encompasses many activities,” said Bruce Campbell, director of the CGIAR’s Challenge Program on Climate Change, Agriculture and Food Security. “That’s why they need integrated options to cope with climate change, consisting of diverse innovations, such as drought-tolerant crops, better management of livestock, provision of environmental services and so forth.”

How rapidly and successfully East African nations and rural households can take advantage of such measures will depend on aggressive new investments in agriculture, CGIAR researchers argue. According to a recent study by the International Food Policy Research Institute (IFPRI), it will take about $7 billion annually, invested mainly in rural roads, better water management and increased agricultural research, to avert the dire implications of climate change for child nutrition worldwide.

About 40 percent of that investment would address the needs of sub-Saharan Africa, where modest reductions projected for maize yields in the region as a whole are expected to translate into a dramatic rise in the number of malnourished children by 2050. Thornton’s projections probably underestimate the impacts on crop production, because they reflect increasing temperatures and rainfall changes only and not greater variability in the weather and growing pressure from stresses like drought and insect pests.

“Farmers and pastoralists in East Africa have a long history of dealing with the vagaries of the weather,” said Seré. “But climate change will stretch their adaptive capacity beyond its limits, as recent severe drought in the region has made abundantly clear. Let's not leave rural people to fend for themselves but rather invest significantly in helping them build a more viable future.”

###

About ILRI:
The Africa-based International Livestock Research Institute (ILRI) works at the crossroads of livestock and poverty, bringing high-quality science and capacity-building to bear on poverty reduction and sustainable development. ILRI is one of 15 centers supported by the Consultative Group on International Agricultural Research (CGIAR). It has its headquarters in Kenya and a principal campus in Ethiopia. It also has teams working out of offices in Nigeria, Mali, Mozambique, India, Thailand, Indonesia, Laos, Vietnam and China. www.ilri.org.

About the CGIAR: The CGIAR, established in 1971, is a strategic partnership of countries, international and regional organizations and private foundations supporting the work of 15 international Centers. In collaboration with national agricultural research systems, civil society and the private sector, the CGIAR fosters sustainable agricultural growth through high-quality science aimed at benefiting the poor through stronger food security, better human nutrition and health, higher incomes and improved management of natural resources. www.cgiar.org "

[Popeye82]

Nautilus Maintains Strong Cash Position and Achieves Significant Project Milestone - Nov 05, 2009
www.marketwire.com/press-release/Nautilus-Minerals-Inc-TSX-N…

[Popeye82]

Northland Resources Inc.: Exploitation Concession Application Filed for Sahavaara - Nov 05, 2009
www.marketwire.com/press-release/Northland-Resources-Inc-TSX…

[Popeye82]

U.N. pulls out foreign staff from Afghanistan - Reuters, KABUL - 05 NOV 2009 14:11 GMT

- By Jonathon Burch &Yara Bayoumy -

- KABUL (Reuters) - The United Nations said on Thursday it would evacuate hundreds of its international staff from Afghanistan for several weeks due to deteriorating security, a sharp blow for Western efforts to stabilise the country. -
http://uk.reuters.com/article/idUKTRE5A40MW20091105

[Popeye82]

Bank to pump £25 billion more into economy - Reuters, LONDON - 05 NOV 2009 15:37 GMT

- By Sumeet Desai -

- LONDON (Reuters) - The Bank of England increased its bond-buying programme by 25 billion pounds to 200 billion pounds on Thursday which analysts said would be the last expansion of the scheme to revive Britain's recession-hit economy. -
http://uk.reuters.com/article/idUKL411851120091105

[Popeye82]

Karadzic counsel appointed, trial resumes March - Reuters, AMSTERDAM - 05 NOV 2009 15:31 GMT

- By Reed Stevenson -

- AMSTERDAM (Reuters) - Yugoslavia war crimes tribunal judges ordered the appointment of legal counsel for Radovan Karadzic Thursday because the former Bosnian Serb leader had refused to attend his trial since it started last week.

+ Court imposes lawyer, trial adjourned for now

+ Karadzic had boycotted trial, demanded 10 months delay

+ Karadzic denied 11 war crimes charges from Bosnian war -
www.reuters.com/article/latestCrisis/idUSL5518512

"AMSTERDAM, Nov 5 (Reuters) - Yugoslavia tribunal judges ordered legal counsel for former Bosnian Serb leader Radovan Karadzic and adjourned his trial until March 2010 to give the new defence lawyers time to prepare.

Karadzic has been acting as his own attorney and has been boycotting the trial which charges him with some of Europe's worst atrocities since World War Two.

Karadzic can continue to represent himself, but will have to work with the appointed lawyer, according to the ruling by the International Criminal Tribunal for the former Yugoslavia.

If he continues to boycott the trial or "engage in any other conduct that obstructs the proper and expeditious conduct of trial, he will forfeit his right to self-representation" and the appointed lawyer will take over, Presiding Judge O-Gon Kwon said in the court order.

"The Trial Chamber encourages the Accused to discuss his defence and cooperate fully with the appointed counsel, so that he or she can make the most effective use of time available for preparation," the South Korean judge said.

Judges had warned Karadzic, who has denied his 11 war crimes charges from the 1992-95 Bosnian war, that they would take this step if he persisted in refusing to attend the trial, but he had argued for more time.

The charges against Karadzic include the 43-month siege of Sarajevo that began in 1992. An estimated 10,000 people died in the siege as the former Yugoslavia was torn apart in the 1990s by Serbs, Croats and Muslims fighting for land.

In the three days of proceedings thus far, prosecutors have described Karadzic as a supreme commander who led a genocidal campaign to make Bosnian Muslims "disappear from the face of the earth" and pursued a campaign of "ethnic cleansing" during the war.

Two of the charges are for genocide and one holds him responsible for the death of more than 7,000 Bosnian Muslim men and boys in the village of Srebrenica in July 1995.

Karadzic, 64, led Serbs who tried to carve the Serb Republic out of Bosnia during the break-up of Yugoslavia.

Captured in July 2008 after 11 years on the run, Karadzic has fought the judges throughout pre-trial proceedings, claiming immunity from prosecution and asking for 10 extra months to prepare for trial, both of which were denied.

A psychiatrist before becoming president of the self-proclaimed Republica Srpska, Karadzic stepped down from power in 1996 and went into hiding until he was captured last year, bearded and disguised as an alternative healer in Belgrade.

Marko Sladojevic, one of Karadzic's legal advisers, said his client would decide next week whether to appeal the court's decision, and indicated that they would try to come up with a "constructive response."

(Additional reporting by Gilbert Kreijger; Editing by Sonya Hepinstall) "

[Popeye82]

Bulk carrier hijacked in Indian Ocean - EU naval force - Reuters, MOGADISHU - 05 NOV 2009 14:38 GMT

- MOGADISHU (Reuters) - A bulk carrier called the MV Delvina was hijacked in the Indian Ocean on Thursday, the EU naval force and a local maritime official said. -
http://in.reuters.com/article/worldNews/idINIndia-4371582009…

[Popeye82]

Malawi threatens arrests over Madonna school row - Reuters, LILONGWE - 05 NOV 2009 15:15 GMT

- By Mabvuto Banda -

- LILONGWE (Reuters) - Malawi threatened on Thursday to arrest protesting villagers blocking construction of Madonna's multi-million dollar girls academy, a new controversy for the singer in the African country where she has adopted two children. -
www.reuters.com/article/entertainmentNews/idUSTRE5A437Y20091…

[Popeye82]

Dutch among lowest cannabis users in Europe - Reuters, AMSTERDAM - 05 NOV 2009 11:33 GMT

- AMSTERDAM (Reuters) - The Dutch are among the lowest users of marijuana or cannabis in Europe despite the Netherlands' well-known tolerance of the drug, according to a regional study published Thursday. Among adults in the Netherlands, 5.4 percent used cannabis, compared with the European average of 6.8 percent, according to an annual report by the European Monitoring Centre for Drugs and Drug Addiction, using latest available figures. -
http://news.yahoo.com/s/nm/20091105/lf_nm_life/us_dutch_cann…

[Popeye82]

"Obsessed" Thatcher warned French of rampant Kohl - Reuters, PARIS - 05 NOV 2009 15:09 GMT

- By Sophie Hardach -

- PARIS (Reuters) - Prime Minister Margaret Thatcher warned France's ambassador months before German's 1990 reunification of a domineering Chancellor Helmut Kohl who "sees himself as the master," diplomatic notes revealed on Thursday. -
http://uk.reuters.com/article/idUKTRE5A437820091105

"PARIS (Reuters) - Prime Minister Margaret Thatcher warned France's ambassador months before German's 1990 reunification of a domineering Chancellor Helmut Kohl who "sees himself as the master," diplomatic notes revealed on Thursday.

In secret archives unveiled to commemorate the fall of the Berlin Wall on Nov 9., 1989, French diplomats describe an "obsessed" and "bitter" Thatcher's fear of a united Germany and her proposal to join forces with Russia to contain the threat.

"Kohl is capable of anything," France's ambassador to Britain, Luc de La Barre de Nanteuil, quoted Thatcher as telling him during a dinner with French businessmen at his residence in London on March 13, 1990.

"He has become a different man, he does not know himself any more, he sees himself as the master and begins to act like that. You have to see for example how he behaves with (then Soviet leader Mikhail) Gorbachev," she said according to the confidential report.

Nanteuil was struck by Thatcher's bitterness, noting that while she was pleased with the end of communism, she did not express any joy over eastern Europe's new-found freedom.

"The 1990s begin with euphoria, they risk ending in catastrophe," said Thatcher, whose anti-European Union stance culminated in her forced resignation in December 1990.

France and Britain, western Europe's two nuclear powers, needed to link up in the face of the "German danger," but this alone would not be enough, she told Nanteuil.

Once Russia was transformed into a free-market democracy, it could act as a necessary counterweight, she said.


"ANXIETY AND PASSION"

While Thatcher's opposition to German reunification is known, the diplomatic notes cast a slightly more ambiguous light on the role of French President Francois Mitterrand.

Mitterrand shared Thatcher's concerns -- he has previously been cited as warning her in January 1990 that the Germans were turning "bad" again.

But the diplomatic records also describe his delicate balancing act as he tried to show Germany he was not fundamentally hostile to its reunification.

A report of a meeting between French diplomat Francois Scheer and the East German ambassador on November 14, 1989, mentions Mitterrand's position days after the Berlin Wall came down.

The thought of German reunification "did not frighten (Mitterrand) but this did not signify that he would say yes to reunification tomorrow and in any fashion," Scheer said, according to the report.

Archivists presenting the notes and letters to reporters cautioned that diplomats may have been biased while leaders could have tried to manipulate their counterparts.

The full archives from the period will be officially opened on Monday, the 20th anniversary of the fall of the wall.

But even as a partial account, Nanteuil's report confirmed Thatcher's increasing isolation as the Iron Lady lost the power to convince others.

"Mrs Thatcher was, as usual, attentive, reflective and combative, but she was basically much more negative than imaginative. She spoke of Germany with a striking anxiety and passion," Nanteuil wrote. "She wanted to be right and be right on all points, even when her worry did not suggest any solution. She was, as always, convinced that her instinct was right."

(Editing by Tim Pearce) "

[Popeye82]

Alexco Announces Additional 2009 Drill Results, Keno Hill District, Yukon: Keno 700 Drilling Intersects 1.03 Meters of 18.48 g/t Gold - Nov 05, 2009
www.marketwire.com/press-release/Alexco-Resource-Corp-TSX-AX…

[Popeye82]

"Leserfrage: Mini-Futures und das Rollrisiko?
- Miriam Kraus -


Liebe Leserin, lieber Leser,

im Laufe der Daily-Reihe "Investieren in Öl" habe ich einige Leseranfragen erhalten. Insbesondere zum letzten Beitrag der Reihe, zum Thema Investitionsmöglichkeiten, erhielt ich einige weiterführende Fragen.

Aus diesem Grund möchte ich mich heute zunächst der Beantwortung einer spezifischen Frage widmen, welche einige der Leser so, oder so ähnlich, gestellt haben und den geplanten Reisebericht Jordanien auf die kommende Woche verschieben.

Stellvertretend für einige Anfragen werde ich an dieser Stelle nun Leser W.B. zu Wort kommen lassen...


Leser W.B. Schreibt mir:

Sehr geehrte Frau Kraus,

(Herr W.B. Bezieht sich auf den Beitrag vom Dienstag 03.11.2009; spezifisch auf die Ausführungen zu den Mini-Futures)

Dazu eine Frage:
Wie kann man hier das Roll-Risiko ausschalten?
Wenn es keine Laufzeitbegrenzung gibt (open end), muss doch immer in den nächsten Future gerollt werden, oder nicht? Dann habe ich doch evt. Rollverluste.

Würde mich über eine Antwort von Ihnen sehr freuen, vielleicht wollen Sie auch im heutigen Daily nochmal kurz darauf eingehen. Ich denke das würde viele Ihrer Leser interessieren.

Das wäre ja für Erdgas im Moment sehr interessant;-)

Mit freundlichen Grüßen


Meine Antwort:

Herr W.B. Vielen Dank!

Tatsächlich handelt es sich hierbei um eine interessante Thematik, welcher wir im Folgenden auf den Grund gehen werden.

Zuvor möchte ich noch für alle Leser, die sich bislang noch nicht mit den Mini-Futures auseinander gesetzt haben, kurz erläutern um was es sich bei den Mini-Futures handelt...


Mini-Futures

Alle Mini-Futures sind im Grunde Zertifikate, also derivative Produkte, welche allerdings bestimmte Merkmale von Optionsscheinen, aber auch von Futures in sich tragen.

Mit Mini Futures partizipiert man an der Wertentwicklung eines Basiswerts, muss aber nicht den gesamten Betrag zum Erwerb des Basiswerts aufbringen. Den Restbetrag zur gesamten Investitionssumme steuert der Emittent bei. Der Ertrag für den Anleger ergibt sich schließlich aus der gesamten Investitionssumme abzüglich der Finanzierungskosten des Emittenten. So entsteht eine Hebelwirkung. Je geringer der eigene Kapitaleinsatz des Anlegers ist, desto höher die Hebelwirkung. Aber Vorsicht: ein Hebel funktioniert immer in beide Richtungen; je höher der Hebel, desto höher die möglichen Verluste und Gewinne!


Eingebauter Stopp-Loss

Hinzu kommt, dass ein Mini Future immer eine eingebaute Stopp-Loss- oder Knock-Out-Barriere aufweist. Wird diese erreicht, so wird die Position automatisch aufgelöst und nur ein Restbetrag ausbezahlt.


Unterschiede zu Optionen

Mini Futures sind unabhängig von den komplizierten Berechnungsmethoden der Optionen (keine Griechen und somit fließt auch die implizite Volatilität nicht in die Berechnung von Mini Futures mit ein). Zudem weisen Mini Futures eine Open-End-Struktur auf - also keine Ausübungszeiträume wie bei Optionen.


Wichtig: das Finanzierungslevel

Der Emittent legt - wie gesagt - anteilsmäßig seine Finanzierungskosten auf den Anleger um. Dies geschieht sozusagen mit Hilfe des Finanzierungslevels. Dieses ist in etwa vergleichbar mit dem Strike-Preis bei Optionsscheinen, wird aber täglich um die Finanzierungskosten angepasst. Bei einem Mini Long steigt also jeden Tag das Finanzierungslevel, weil der Emittent auf diese Weise seine Finanzierungskosten anteilsmäßig an den Anleger weitergibt. Ein prozentualer Anteil dieses Finanzierungslevels (also die Finanzierungskosten) werden dabei täglich vom Kapitaleinsatz des Anlegers abgezogen.


Mini-Futures und der Rollvorgang
von Miriam Kraus

Beschäftigen wir uns also nun mit der konkreten Fragestellung von Herrn B.!


Was geschieht also mit einem Mini-Future beim Rollvorgang in einer Contango-Situation?!

Zunächst: Mini-Futures beziehen sich in der Regel oft auf den nächstfälligen Kontrakt. Da sie eine Open-End-Struktur aufweisen muss also vor Fälligkeit des Kontrakts, so zu sagen in den nächsten Kontrakt gerollt werden. Doch der Mini-Future ist kein Futures-Kontrakt, welchen der Anleger selbst rollen müsste. Was stattdessen geschieht ist, dass der Emittent, wenn das Underlying gerollt werden muss, gewisse Anpassungen am Mini-Future vornimmt.


Finanzierungslevel und Stopp-Loss

In einer Contango-Situation erhöht sich bei einem Mini-Long das Finanzierungslevel. (Zugleich erhöht sich im Übrigen auch die Stopp-Loss-Marke!). Der springende Punkt ist allerdings, dass sich der Mini-Future nun auf einen teureren Kontrakt bezieht. Das bedeutet, dass die Differenz zwischen dem neuen Basiswertpreis und dem neuen Finanzierungslevel konstant ist. Oder anders ausgedrückt: trotz des Anstiegs des Finanzierungslevels, sollte - aufgrund des "Anstiegs des Basiswertpreises" - der Anteil des Anlegers am Basiswert nicht sinken.

Das bedeutet, dass der Rollvorgang an sich tatsächlich keinen Einfluss auf den Wert des Mini-Futures hat - dieser bleibt unverändert.

Da der Rollvorgang an sich für den Mini-Future (Long) wertneutral ist (oder es zumindest nach den bestehenden Kriterien sein sollte), habe ich am Dienstag auch die Aussage getroffen, dass der Mini-Future keinem Rollrisiko unterliegt.

Diese Aussage ist zwar an sich richtig, doch - verzeihen Sie mir - ich hätte diese Aussage nicht alleine so stehen lassen dürfen.


Denn...im Leben ist wenig umsonst, nichts ohne Risiko und Wunder gibt es immer weniger....

Auch wenn der Rollvorgang an sich wertneutral für den Mini-Future ist, besteht ein Risiko nachdem der Rollvorgang und die Anpassungen vorgenommen wurden. Bewegt sich nun nämlich der Preis des neuen Kontrakts in die Richtung des Preises des alten Kontrakts (also sinkt der Preis des neuen Kontrakts) kommt es dementsprechend zu Verlusten. Hier ist es also auch wichtig, wann Rollvorgang und Anpassungen vom jeweiligen Emittenten vorgenommen werden.


Interessant: Mini-Short in der Contango

Interessant ist zudem, dass auch beim Mini-Short in einer Contango-Situation das Finanzierungslevel nach oben angepasst wird. (Auch bei einem Mini-Short erhöht sich jeden Tag das Finanzierungslevel, doch hier ist die Situation umgekehrt: hier stellt der Anleger im Grunde dem Emittenten eine Finanzierung zur Verfügung, welche der Emittent sozusagen über das Finanzierungslevel verzinst; da sich der Wert des Short-Produkts grob gesagt aus dem Finanzierungslevel abzüglich des Basiwertpreises ergibt, steigt bei täglich steigendem Finanzierungslevel, täglich der Wert des Produkts; Voraussetzung für Erfolg ist natürlich auch eine entsprechend hohe Verzinsung, die sich aufgrund der Libor-Zinssätze ergibt und höher als mögliche Verluste durch steigende Basiwertpreise ist). Dementsprechend kann ein Mini-Short also bei steigender Forwardkurve sozusagen "Rollgewinne" verbuchen (sofern der Preis des Basiswerts im Nachhinein nicht deutlich ansteigt und die Finanzierungslevel-Gewinne sofort wieder auffrisst). Doch dies nur als kleine Anmerkung nebenbei....


Fazit

Auch wenn Mini-Futures durchaus interessant konstruierte Produkte darstellen, sind sie doch eher für spekulativ orientierte und erfahrene Anleger und Trader geeignet. Sie eignen sich nicht oder nur sehr bedingt für eine langfristige Buy and Hold Strategie, denn - vergessen Sie nicht - ein Mini Long kostet jeden Tag Geld. Ein Mini Short hält zwar ebenfalls interessante Möglichkeiten bereit - insbesondere auch bei Seitwärtsphasen - doch diese kommen eigentlich erst in einem Umfeld deutlich höherer Zinssätze zur Geltung. Daytrader dagegen können Mini Futures auch als kurzfristige spekulative Produkte nutzen, da sie keine Finanzierungskosten tragen. Allerdings sollte man auch nie die eingebaute Stopp-Loss/Knock-Out-Barriere vergessen, die Mini Futures im Grunde noch eine Spur spekulativer machen als Optionen/Optionsscheine. Denn im Gegensatz zu Mini Futures, die einfach ausgeknockt werden, wenn sie ein bestimmtes Level erreichen, ist bei Optionen, so lange das Ausübungsdatum noch nicht unmittelbar bevorsteht, zumindest ein Comeback denkbar.

So long liebe Leser...so viel einmal hierzu...morgen gibt's an dieser Stelle wie gewohnt den Wochenrückblick und ich freue mich, wenn wir uns morgen an dieser Stelle wiederlesen....bis morgen und noch einen schönen Abend, wünscht

Ihre Miriam Kraus "

[Popeye82]

MIT Introduces a Friendly Robot Companion For Your Dashboard - POPSCI - 10.29.2009

- By Clay Dillow -
www.popsci.com/node/40238/?cmpid=enews110509

[Popeye82]

New Unmanned Chopper Sniffs Out Improvised Explosives While Looking Adorable; The Pentagon is testing an unmanned helicopter that can detect electromagnetic emissions from IEDs. Codename: HELIPANDA (we wish) - POPSCI - Oct 30, 2009

- By Jeremy Hsu -
www.popsci.com/node/40273/?cmpid=enews110509

"Roadside bombs have long represented the greatest killer of soldiers in Iraq and Afghanistan, but there's hope beyond the sturdy little demolition bots that already work with their human handlers. The Pentagon now has two aerial drones on the testing docket as possible countermeasures for improvised explosive devices (IEDs)--one of which we're calling 'Helipanda' for the remainder of this post.

I think you can see why. The Air Force Research Laboratory assigned their new copter the more lethal-sounding name "Yellow Jacket," and gave it special anti-IED instruments that include an "unintentional electromagnetic emissions" sensor.




This sensor allows the helipanda to sniff out electronic energy from the wireless receivers used to trigger IEDs. U.S. researchers have made such detection equipment a priority, and have even developed ways to detect the unintentional emissions in urban environments crowded by signals. Aviation Week reports that a private contractor called CenTauri Solutions received $11.7 million to carry out its Yellow Jacket demonstration, using a Scheibel S-100 Camcopter.

Another unmanned aerial system backed by the Pentagon's anti-IED organization (JIEDDO) is the Sentinel Hawk. The small drone is slated to fly above convoys and survey the road ahead for bombs, and can also withstand the counter-IED jamming that convoys typically broadcast.

The drones join a host of other technological solutions that the military has sought to counter IEDs, including ray guns and better virtual simulators to train soldiers on detecting IEDs. "

[Popeye82]

"Keine Rezession, Südkorea legt wieder zu
- Volkmar Michler -


Liebe Leserin, lieber Leser,

Obwohl der Exportanteil am BIP mit rund 40% sehr hoch und Südkorea damit besonders abhängig ist von der Entwicklung des Welthandels, hat eine Rezession im Tigerstaat kaum stattgefunden. Auch wenn die koreanische Wirtschaft in diesem Jahr schrumpfen dürfte, wird dies im Rückblick nur wie eine kleine Wachstumspause aussehen. Während man in Deutschland zur Behebung der Krise auf Wachstum hofft, findet in Südkorea schon längst wieder Wachstum statt.

War das BIP im letzten Quartal 2008 noch regelrecht eingebrochen, zeigte sich schon in den ersten Monaten 2009, dass Südkorea auf Erholungskurs steuert. In den letzten beiden Quartalen 2009 wuchs die Wirtschaft jeweils wieder um 2,6% bzw. 2,9%. Die schnelle Erholung ist vor allem auf ein umfassendes staatliches Konjunkturprogramm und niedrige Zinsen zurückzuführen.

Dabei zeigt sich, dass Südkorea offenbar eine Fähigkeit hat, die den westlichen Industriestaaten völlig abgeht -nämlich in Boomphasen Geld zurücklegen, um in der Krise auf Reserven zurückgreifen zu können. So kann Südkorea nicht nur auf eine geringe Staatsverschuldung, sondern auch auf hohe Devisenreserven verweisen. Auch bedingt durch den schwachen Won hat die südkoreanische Wirtschaft in der Krise international an Wettbewerbsfähigkeit gewonnen.

Hinzu kommt: Südkorea hat nicht wie die meisten westlichen Länder in der Finanzkrise als „Täter" mitgemischt, sondern war allenfalls durch sekundäre Auswirkungen betroffen. Die sind jetzt aber wesentlich schneller abgehakt als in vielen westlichen Ländern. Und deshalb zeigt sich eindeutig: Die Asiaten überholen den Westen.


Fed-Chef Bernanke beschwert sich

Schon der Chef der amerikanischen Notenbank Bernanke musste vor wenigen Tagen neidvoll anerkennen, dass die „asiatischen Ländern den globalen Wirtschaftsaufschwung anführen". Neben China, Hongkong und Singapur nannte er übrigens auch Südkorea, die nach seiner Einschätzung schon bald wieder zweistellige Wachstumsraten vorlegen dürften. Bernanke sparte natürlich auch nicht mit Kritik.

Denn die Handelsbilanzüberschüsse der meisten asiatischen Volkswirtschaften sind dem Fed-Chef ein Dorn im Auge. Die Äußerungen Bernanke zeigen aber auch, wie sehr die Wachstumsverschiebung von Westen nach China, Indien und Südkorea den westlichen Industrieländern zunehmend Sorgen bereitet.

An der Börse ist dieser Trend längst angekommen. Während es Dax und Dow in diesem Jahr auf bescheidene Zuwächse von 11% bzw. 14% bringen, hat der Kospi 200, der koreanische Leitindex über 44% zugelegt.

Allerdings war der krisenbedingte Absturz scharf. Vom Hoch bei 260 Punkten im November 2007 hat der Kospi 200, der koreanische Leitindex, innerhalb eines Jahres über 50% an Wert verloren. Vom Tief im November 2008 bei 130 Punkten hat sich die koreanische Börse aber längst wieder erholt. Mittlerweile reden wir schon wieder über 200 Punkte. Seit März 2009 hat der Kospi einen neuen, steilen Aufwärtstrend ausgebildet, der jetzt allerdings bei rund 220 Punkten erst einmal an seine Grenzen gestoßen ist. Ein Kursanstieg von fast 70% innerhalb weniger Monate, das muss erst einmal verdaut werden.

Und so sieht es derzeit beim Kospi eher nach einer - zugegeben längst überfälligen - Korrektur aus. Dabei kann sogar die Marke von 200 Punkten noch einmal getestet werden, wo eine massive Unterstützung liegt.

Für Neukäufe sollte man im Rahmen der Korrektur deshalb nur mit tiefen Kauflimiten vorgehen und sich weitere Liquidität für eventuelle Nachkäufe bereit halten. Denn bisher hat sich in den letzten Monaten jede Korrektur als exzellente Kaufchance herausgestellt. Und derzeit sieht es wieder nach einer Korrektur im Aufwärtstrend aus.

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

Hathor Receives First Mineral Resource Estimate Summary for Roughrider Uranium Zone based on 2008 and Winter 2009 Drill Programmes - Nov 05, 2009
www.marketwire.com/press-release/Hathor-Exploration-Limited-…

[Popeye82]

Farallon starts sniffing at acquisition prospects - Mining Weekly, TORONTO - Nov 4, 2009

- Liezel Hill -
www.miningweekly.com/article/farallon-mining-starts-sniffing…

[Popeye82]

Chariot Resources says signed CAs with potential buyers - Mining Weekly, TORONTO - Nov 5, 2009

- Liezel Hill -
www.miningweekly.com/article/chariot-resources-says-signed-c…

"TORONTO (miningweekly.com) – TSX-listed Chariot Resources has signed confidentiality agreements with potential buyers, which have been provided access to data and offered the opportunity to visit the company's flagship Mina Justa copper project, in Peru.

However, the firm said on Thursday it will not comment further while the sale process is ongoing.

The confidentiality agreements were executed after Chariot's financial advisor, RBC Capital Markets, launched a formal process to solicit proposals that will lead to the eventual sale of the company.

Chariot owns 70% of the project and Korea Resources Corporation (owned by the Korean government) and LS-Nikko Copper own the balance.

After Chariot shareholders in September re-elected the company's incumbent board of directors, rejecting a rival slate of nominees proposed by a group of dissident shareholders, CEO Ulli Rath promised to act on investor calls to seek a buyer sooner rather than later.

In the meantime, however, the firm is moving the project through the permitting and approval process, and expects to receive formal notice soon from authorities that its environmental and social impact assessment (ESIA) can enter the next phase of the review process.

It has also made progress towards securing a supply of acid for the project, and hired GRD Minproc for a study that could result in optimisations to the Mina Justa project.

"The private placement with Solway Finance LTD announced in October 2009 has now closed with the result that Chariot's cash balances stand at C$23-million," Rath said in a statement.

"I am particularly pleased that the sales process is in full swing and that we are about to receive government approval to launch into the public participation phase of the ESIA review process that is critical to getting ultimate approval of the Mina Justa Project," he said.

Chariot shares rose 9,7% on Thursday, to C$0,34 apiece by 14:06 in Toronto.
Edited by: Liezel Hill "

[Popeye82]

Greater R&D investment imperative to meet mining industry challenges - Mining Weekly, JOHANNESBURG - Nov 3, 2009

- Esmarie Swanepoel -
www.miningweekly.com/article/greater-rd-investment-imperativ…

[Popeye82]

Zambia largest cobalt plant to resume output - Reuters, LUSAKA - Nov 3, 2009
www.miningweekly.com/article/zambia-largest-cobalt-plant-to-…

[Popeye82]

Market rise revives China-Africa resource deals - Reuters, BEIJING - Nov 3, 2009
www.miningweekly.com/article/market-rise-revives-china-afric…

[Popeye82]

Warwick Resources - Identifies Large New Iron Target - Nov 5, 2009
http://stocknessmonster.com/news-item?S=WRK&E=ASX&N=468005

[Popeye82]

Hudson Drill Results Confirm High Grade Rare Earth Zones On the Greenland Sarfartoq Carbonatite Project - Nov 04, 2009
www.marketwire.com/press-release/Hudson-Resources-Inc-TSX-VE…

[Popeye82]

US Deputy Treasury Secretary lauds IITA research in East Africa - IITA - Nov 2, 2009

- The United States Deputy Treasury Secretary Neal Wolin has praised the International Institute of Tropical Agriculture’s (IITA) research efforts to boost cassava as a food and cash earning crop in Tanzania, citing it as a fine example of how African scientific research can combine with funds from the US government to produce good results. -
www.cgiar.org/newsroom/releases/news.asp?idnews=950

[Popeye82]

GM's U-turn on Opel sale angers Germany, Russia - Reuters, FRANKFURT/BERLIN - 04 NOV 2009 13:51 GMT

- By Angelika Gruber &Gernot Heller -

- FRANKFURT/BERLIN (Reuters) - German and Russian leaders seethed and unions tore up a deal to cut costs in protest at General Motors' "completely unacceptable" decision to keep Opel, its European unit, after months of talks. -
www.reuters.com/article/innovationNews/idUSTRE5A25RL20091104

"FRANKFURT/BERLIN (Reuters) - German and Russian leaders seethed and unions tore up a deal to cut costs in protest at General Motors' "completely unacceptable" decision to keep Opel, its European unit, after months of talks.

Labor leader Klaus Franz rescinded hundreds of millions of euros in cost concessions that workers agreed to on condition that Opel was bought by Magna, the Russian-backed Canadian group long backed as buyer by Berlin and Moscow.

"General Motors' behavior toward workers is completely unacceptable," German Economy Minister Rainer Bruederle told reporters the morning after GM's shock news, adding: "General Motors' behavior toward Germany is completely unacceptable."

In Moscow, Russian Prime Minister Vladimir Putin hinted the battle for carmaker Opel was not over, saying it was the German trust overseeing Opel, not the board of General Motors, which should decide any further steps.

Germany viewed Magna and Russian partner Sberbank as most likely to preserve as many German jobs and plants as possible. Half of Opel's 50,000 staff are based in Germany.

"General Motors' behavior shows the ugly face of turbo-capitalism," said Juergen Ruettgers, premier of the state of North Rhine-Westphalia, home to an Opel plant in Bochum which is seen at risk of closure.

GM Europe will now revert to a reorganization plan that envisages chopping fixed costs at Opel by 30 percent, a spokeswoman said.

"Failure to reach the needed restructuring would result in the operation becoming insolvent, an unnecessary and undesirable outcome for all involved," GM Europe said.

The spokeswoman declined to discuss potential job losses and plant closures, but German staff feared the worst.


NEW DEAL

"I don't know what is going to happen here in Bochum if Magna does not take it over," said one Opel worker arriving for an early shift at the plant.

In Spain, union spokesman Jose Juan Arceiz said workers would try to negotiate a deal with GM as they had with Magna.

British unions welcomed GM's reversal.

"It is fantastic news for the UK and right that General Motors does not break up its family and instead retains ownership of (Opel sister brand) Vauxhall," said Tony Woodley, joint general secretary of the Unite union.

GM abandoned the Opel sale on Tuesday, saying improving business conditions and the strategic importance of Opel had prompted the move by its board of directors.

The decision left open the question of how GM will finance its plan to restructure Opel, the backbone of its operations in Europe and a key source of global technology for mid-sized cars.

The spokeswoman said GM would repay the rest of a 1.5 billion euro ($2.2 billion) bridge loan due at the end of November if Berlin requested. The loan helped save Opel from being sucked into GM's dip into bankruptcy this year.

GM Europe is counting on European loan guarantees to provide the bulk of the financing it needs to overhaul Opel.

Officials in Berlin, which had originally planned to provide 4.5 billion euros in upfront aid for the Russian-backed Magna bid, focused on getting back the bridge loan rather than providing fresh financing.

The Economy Ministry said Berlin would review prospects for state aid once GM presented its plans for Opel.


STATE AID

In Brussels, a spokesman for European Competition Commissioner Neelie Kroes noted the Commission's role was only to verify any aid complied with EU rules, adding: "The Commission can't force member states to give state aid."

British Business Secretary Peter Mandelson said he wanted talks with GM to see how the new plan would affect jobs, including at its British Vauxhall plants.

Countries with Opel plants including Germany, Britain, Spain and Belgium were originally expected to provide aid for the rescue of loss-making Opel. GM said it expected restructuring Opel on its own would cost about 3 billion euros.

German officials who asked not to be named said the decision came as a total surprise to Chancellor Angela Merkel and her advisers during a visit to Washington, where Merkel addressed a joint session of Congress.

GM Chief Executive Fritz Henderson broke the news to her delegation during Merkel's meeting in Washington with the heads of the World Bank and IMF shortly before she returned to Berlin.

Senior German officials said the Opel issue did not come up when Merkel met U.S. President Barack Obama on Tuesday.

Opel put the best face on its parent's change of heart.

"The GM board of directors' decision brings clarity for Opel/Vauxhall," it said in a brief statement on Wednesday.

Labor leader Franz said workers would not go along with GM's "blackmail" of European governments and staff. Protests were planned across Europe on Thursday.

For a graphic showing U.S. auto sales and the relative performance of auto stocks, click here: here

(Additional reporting by Reuters bureaus; Editing by Will Waterman and David Holmes)

($1=.6782 Euro) "

[Popeye82]

Oro Gold Provides Drill Update on Trinidad Gold Project, Sinaloa, Mexico
On 1:20 pm EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Oro-Gold-Provides-Drill-iw-254…

[Popeye82]

Donner Metals Financing Update
On 12:35 pm EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Donner-Metals-Financing-iw-146…

[Popeye82]

Northern Shield Resources Identifies Strong VTEM Conductors at Wabassi Ni-Cu-PGE Property in Northern Ontario; Mobilizes Field Crew
On 12:24 pm EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Northern-Shield-Resources-cnw-…

[Popeye82]

Golden Goose to begin a 3,000-metre drilling program at its Magino gold project
On 11:57 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Golden-Goose-to-begin-a-cnw-40…

[Popeye82]

Ur-Energy Selects General Contractor for Plant Construction
On 11:51 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/UrEnergy-Selects-General-iw-35…

[Popeye82]

La Mancha Resources Inc.: Second Hassai Mine VMS Target Boosts Project's 43-101 Inferred Resource to Over Two Million Ounces of Gold
On 8:40 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/La-Mancha-Resources-Inc-iw-321…

[Popeye82]

Silver Dragon Discovers 914.8 g/t Silver, 7.58% Lead, and 9.11% Zinc Over 15.30 Meters at its Award-Winning Dadi Silver Polymetallic Project in Northern China
On 9:00 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Silver-Dragon-Discovers-9148-p…

[Popeye82]

Anatolia completes $56 million public offering
On 9:24 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Anatolia-completes-56-million-…

[Popeye82]

Freewest Update on Exploration Activities on Its 100%-Owned McFaulds Property, Northern Ontario - Nov 05, 2009

+ Drilling delineates potential mineral deposit at Black Thor occurrence ranging from 50 million to 60 million tonnes in size, with a grade between 31% to 38% Cr2O3

+ Black Thor occurrence has potential to host between 278,000 and 406,000 ounces of platinum as well as between 260,000 and 381,000 ounces of palladium
www.marketwire.com/press-release/Freewest-Resources-Canada-I…

[Popeye82]

Far West Mining Confirms Higher Iron Grades at Santo Domingo
On 2:43 pm EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Far-West-Mining-Confirms-iw-37…

[Popeye82]

International Tower Hill Reaches JV Agreement on Chisna Copper-Gold Project, Alaska
On 2:16 pm EST, Thursday November 5, 2009
http://finance.yahoo.com/news/International-Tower-Hill-iw-19…

[Popeye82]

Southern Hemisphere Mining Announces the Completion of the $3 Million Private Placement and the Results From the Diamond Drill Program at the Los Pumas Manganese Project in Northern Chile
On 11:50 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Southern-Hemisphere-Mining-iw-…

[Popeye82]

Mining equipment fleet secured for Copper Mountain Project
On 10:33 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Mining-equipment-fleet-prnews-…

[Popeye82]

Apoquindo Announces High-Grade Surface Sample Copper Results 6.5 km West of the Main Zone at the Chalcocite-Enriched Zafranal Porphyry Cu-Au Project, Department of Arequipa, Peru
On 9:20 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Apoquindo-Announces-HighGrade-…

[Popeye82]

Trevali Plans $7-Million Private Placement Financing; Receives Key Environmental Impact Permit from Peruvian Ministry of Energy and Mines
On 9:15 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Trevali-Plans-7Million-iw-3135…

[Popeye82]

Geologix Acquires Right to Purchase 100% Interest in the Tepal Gold-Copper Project, Mexico
On 9:00 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Geologix-Acquires-Right-to-iw-…

[Popeye82]

Midland Exploration Announces the Increase of the Private Placement
On 9:00 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Midland-Exploration-Announces-…

[Popeye82]

Advanced Explorations Inc. Announces New Iron Ore Discovery
On 8:30 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Advanced-Explorations-Inc-iw-1…

[Popeye82]

Oro Gold Increases Land Position North of Trinidad Property, Mexico
On 8:00 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Oro-Gold-Increases-Land-iw-294…

[Popeye82]

Caerus Resource Granted Nine Concessions in Two of Colombia's Most Prolific Gold Districts
On 4:30 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Caerus-Resource-Granted-Nine-c…

[Popeye82]

Imperial and Selkirk Complete Business Combination
On 9:00 pm EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Imperial-and-Selkirk-Complete-…

[Popeye82]

Sabina Gold & Silver Corp. Announces Graduation to the Toronto Stock Exchange Big Board
On 8:30 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Sabina-Gold-Silver-Corp-iw-126…

[Popeye82]

Midway Gold Updates NI 43-101 Gold Resource at Pan Project, Nevada
On 8:00 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/Midway-Gold-Updates-NI-43101-i…

[Popeye82]

SilverCrest Reports Pre-Production In-Fill Drill Results at Santa Elena; 22m Grading 6.37 g/t Au and 72.7 g/t Ag
On 5:00 am EST, Thursday November 5, 2009
http://finance.yahoo.com/news/SilverCrest-Reports-ccn-235755…

[Popeye82]

Biofuels Future for Aviation - TBES - Oct 27, 2009
www.thebioenergysite.com/news/4806/biofuels-future-for-aviat…

"GLOBAL - Use of biofuels will be one of teh main means for aviation to meet its climate change objectives.

Giovanni Bisignani, IATA’s Director General and CEO, recently met the UN Secretary General Ban Ki-moon to present the industry strategy and targets.

In the meeting, the UN Secretary-General commended the aviation industry’s commitment to contribute to the global fight against climate change and encouraged that these commitments be followed by concrete actions. He stressed the importance of addressing emissions from international aviation and shipping if the world is to achieve its goal of reducing global greenhouse gas emissions to a level that avoids dangerous climate change.

Mr Bisignani singled out sustainable biofuels as an example of optimism in future reductions.

"The three biggest opportunities for emissions reductions are technology, infrastructure and sustainable biofuels. Of these, sustainable biofuels are the most exciting because for the first time air transport has the possibility of an alternative to traditional jet fuel," he said.

"Our attention is on camelina, jatropha and algae which do not compete for land or water with food crops but have the potential to reduce our carbon footprint by up to 80%. Because they can be grown in almost any soil condition or in salt water or even waste water they have the potential to create new industries and livelihoods by bringing sustainable energy production jobs to many of the least developed parts of the planet," Mr Bisignani added.

Four test flights with sustainable biofuels have proven that they meet the technical and safety standards for use in commercial aviation.

Moreover, they can be blended with jet fuel and used in today’s aircraft and engines.

“Progress is going at a much faster pace than anybody anticipated. Three years ago sustainable biofuels were a dream. Now we expect certification no later than 2011,” said Mr Bisignani.

TheBioenergySite News Desk "

[Popeye82]

Air Force Academy Partners with Cool Clean to Tackle Biofuels - TBES - Oct 29, 2009
www.thebioenergysite.com/news/4824/air-force-academy-partner…

"US - The Environmental Research Center in Colorado recently partnered with the Air Force Research Laboratory at Wright-Patterson Air Force Base, Ohio, and an Eagan, Minnesota, company to help the Air Force Academy develop methods to cultivate and harvest algae oil as part of the Academy's Net Zero 2015 energy program.

Biodiesel Magazine reports that the ERC partnered with the AFRL and signed a cooperative research and development agreement with Cool Clean Technologies Inc. in order to develop processes for producing biofuels based on algae oil, said ERC director Dr. Don Veverka.

"This represents an excellent opportunity for our young leaders to witness first-hand how a service academy can partner with private industry and academia," Dr. Veverka said. "They'll be working on an exciting research outcome that greatly impacts their futures and the future of the Air Force."

In addition, the ERC is in talks with Dr. Juergen Polle from Brooklyn University that will hopefully lead to another cooperative research agreement, Dr. Veverka said. The partnership may result in providing additional algae strains for further investigation as a biofuel application. Dr. Polle's research is funded by the Air Force Office of Scientific Research.

"These partnerships provide another superb research thrust for our cadets and the Air Force Academy in an exciting new technology," Dr. Veverka said. Cadets from various disciplines will take part as research moves forward, including involvement in a potential pilot-scale production facility.

Cool Clean has partnered with several leading biofuels companies focused on the efficient and cost-effective conversion of bio-oil to various biofuels. The company has demonstrated its technology using biofuel feed stocks, such as soybeans, dried distiller grains from ethanol production, camelina, pennycress and jatropha. The extraction process is environmentally friendly and cheaper than traditional extraction processes, said Jon Wikstrom, Cool Clean's President and CEO.

"We're very excited about working with the Air Force Academy and other Air Force partners," said Mr. Wikstrom, an Academy graduate. "We fully understand how important it is to have an internally controlled military fuel supply chain as a matter of national security as well as (because of) the significant environmental and cost benefits that may result from this effort."

TheBioenergySite News Desk "

[Popeye82]

EU Project to Develop Cheaper Solar Cells - TBES - Oct09
www.thebioenergysite.com/articles/470/eu-project-to-develop-…

"A series of joint sub-projects and work-packages has enabled the scientists to develop a new, less expensive grade of raw material for solar cells.

Now the EU’s three-year FoXy programme which was coordingated by SINTEF has come to an end.

The Development of Solar-grade Silicon Feedstock for Crystalline Wafers and Cells by Purification and Crystallisation or “FoXy” saw 10 other participants from various European nations develop a “good enough” grade of silicon for solar cell production.

A series of joint sub-projects and work-packages has enabled the scientists to develop a new, less expensive grade of raw material for solar cells and the new modules are just as efficient as current solar cells according to the researchers.

"We are very proud of what we have done," says Marisa Di Sabatino of SINTEF Materials and Chemistry.

"Many people before us have been working on solar energy, but our results are actually quite important."

The ambition of the programme has always been to develop a new material that would make future solar cells both at least as efficient as those of today and cheaper than them.

"We started out from metallic silicon that contains around one per cent impurities – which is not good enough for use in solar cells. We attempted both to reduce the impurities in the metallic silicon and to cut down the amount of impurities that are already in the raw material by means of heat treatment, for example," explains Di Sabatino.

The research group managed to shorten the long production process currently employed by most solar cell manufacturers by adopting a simpler, more direct route. They managed this by using a special smelter and a kiln that removes trace of carbon.

The scientists used pure carbon that contaminates the silicon far less than coke or coal, as well as ultrapure quartz from the Norwegian County of Nordland.

This process is much less costly and energy-intensive than the conventional chemical process.

“With today’s solar cells, the energy used to produce them is paid off in the course of two years:. With the new materials, the payback time could be as little as six months,” says Di Sabatino.

Impurities in silicon cause problems. For example, silicon recycled from industry contains boron and/or phosphorus that can alter the electrical characteristics of the material. Other contaminants can, for example, lead to the formation of poor-quality particles that in turn mean less efficient solar panels installed on our roofs.

However, the project group concluded that even if contaminants are present, we can still produce good-quality material with the aid of special procedures that reduce or eliminate them. It is just a matter of understanding how things fit together, so that things can be done in a better way; and the results of FoXy have helped the researchers towards a better understanding of what takes place in the process.

For example, the FoXy scientists have patented a new, more stable, passivation process – a high-temperature treatment process that protects the surface of the solar cells, making them more efficient and resistant to temperature changes.

Good material is essential, but even more important are the solar cells themselves. In the course of their work on the FoXy programme, the scientists have produced modules that incorporate new ways of assembling the individual cells. These are normally put together with the n (-) and p (+) silicon laid in contact horizontally. Now they are placed vertically in the panel, saving space, allowing more cells to be inserted and reducing the probability of technical failure.

The work of the FoXy scientists ended up with full-scale trials of the new modules. The results were encouraging; as well as being more robust, they were just as efficient as today’s solar cells.

“They will also be cheaper,” says Di Sabatino. The aim of the FoXy partners is that when the modules reach the production stage, they will be one euro cheaper per Watt of electricity generated .

Although the programme has come to an end, the researchers hope to be able to continue their efforts. If they do, the next phase of the work will focus on developing thinner wafers. Today, the standard thickness is 180 – 200 micrometres, and the aim is to halve that, which will save valuable material.

"The challenge lies in how the material is handled; it must be strong enough to be cut without fracturing. This will be the subject of a new proposal that we have just sent to Brussels for a project with eight other partners, and we are keeping our fingers crossed that we will be awarded it,” says Di Sabatino.

October 2009 "

[Popeye82]

Hemisphere Resources - High Grade Iron Assays at Yandicoogina South - Nov 6, 2009
http://stocknessmonster.com/news-item?S=HEM&E=ASX&N=468180

[Popeye82]

Enterprise Metals - Potential Iron Oxide Targets Identified at Eucla Project - Nov 6, 2009
http://stocknessmonster.com/news-item?S=ENT&E=ASX&N=468188

[Popeye82]

Linc Energy - Update on South Australian UCG Program - Nov 6, 2009

+ Linc Energy discovers a significant 1.0 to 1.3 billion tonne
Coal exploration target1 in accordance with the JORC Code at
Orroroo

+ UCG to GTL commercial location now confirmed at Orroroo,
near Port Augusta in South Australia
http://stocknessmonster.com/news-item?S=LNC&E=ASX&N=215600

"The coal deposit is at an ideal depth for Underground Coal Gasification (UCG) and initial analysis confirms that the coal properties and the geology of the overlying strata are all well suited to host a world-scale UCG project. Linc Energy believes that this is the best UCG location and coal deposit that it has drilled or examined to date. The significant size of the deposit, the seam thickness, the flat topography and the other attributes described above can ensure that the Orroroo location in South Australia will become the western world’s first commercial UCG facility and the focus of Linc Energy’s commercialisation of UCG to GTL (Gas to Liquids) over the coming months and years.

Following the success of the initial drilling campaign, an additional 30 well exploration and evaluation program will be undertaken. This will allow Linc Energy to provide a JORC Code compliant resource statement which we expect to have completed by early in the second quarter of 2010. ..."

[Popeye82]

Today's headlines - Point Carbon - Nov 6, 2009
www.pointcarbon.com

"Today's headlines

*RGGI plateaus in thin trade
*Slow progress seen on CDM reform, new markets
*World Bank Funds lack cash-in-hand
*Carbon unmoved by UK sell-off
*Investors welcome Redd safeguard
*Tobin tax could raise climate cash
*Industry groups praise Senate offset bill
*Opposition builds for EU-wide auctioning
*UN deal could be delayed 6 months: EU
*Senate committee approves Kerry-Boxer bill
*South Africa “cautiously optimistic” on climate pact
*Czech AAUs fetch less than €10
*Germany nets €73m from EUAs in October
*UK auction clears at €14.20
*Buying carbon cheapest way to Japan’s goal: expert "

[Popeye82]

Geothermie: Bauwirtschaft gewinnt wegen Klimawandel und Energieknappheit - DB Research - Nov 6, 2009

- In den letzten Jahren hat die Geothermie ihre Wettbewerbsfähigkeit gegenüber fossilen Energiequellen verbessert. In Deutschland hilft die Politik mit Fördergesetzen, die Technologien zur Nutzung der Erdwärme als Wärmequelle und für die Elektrizitätserzeugung attraktiver zu machen. Zur Stromversorgung tragen geothermische Kraftwerke freilich auch 2020 noch <1% bei. Die Expansion der Geothermie begünstigt die Bauwirtschaft. So führt das Wachstum der direkten Geothermie bis 2030 in Deutschland zu einem kumulierten Bauvolumen um EUR 25 Mrd. Nachhaltige Impulse erhalten künftig alle Baubereiche bis hin zur Baustoffindustrie sowie viele Dienstleister. -
www.dbresearch.de/PROD/DBR_INTERNET_DE-PROD/PROD000000000024…

[Popeye82]

Centrex Metals - FIRB Approves WISCO Investment - Nov 5, 2009

HIGHLIGHTS

+ FIRB and NDRC unconditional approval of Centrex / WISCO joint venture in South Australia

+ Centrex to receive $51.5 million from WISCO within 15 business days of all government approvals as first stage of $196m total potential investment

+ WISCO to invest further $10.9m via share placement in Centrex
http://stocknessmonster.com/news-item?S=CXM&E=ASX&N=175209

[Popeye82]

Epsilon Energy - Successfully Concludes Due Diligence - Nov 3, 2009
http://stocknessmonster.com/news-item?S=EPS&E=ASX&N=467771

[Popeye82]

New Millennium Capital Corp. Announces Signing of the Joint Venture Agreement With Tata Steel for the DSO Project and Provides an Update on Feasibility Study Status - Nov 06, 2009
www.globeinvestor.com/servlet/story/CCNM.20091106.566067_1/G…

[Popeye82]

Zambia to Increase Stake in Foreign-Owned Mining Companies - Mining Technology - 06 November 2009
www.mining-technology.com/news/news69112.html?mxmroi=1370053…

"The Zambian Government says it will raise its stake in overseas mining companies from 10% to 35%.

As part of its initiative, the government has raised its shareholding in the China Nonferrous Metal Mining Corporation's (CNMC) Luanshya copper mines to 20%.

CNMC decided to make a $400m investment in Luanshya Copper Mines in June 2009 after acquiring the mining company.

The funds will be used to resume operations at the Baluba mine and help develop the Mulyashi copper project.

The restart of the Baluba mine may enable rehiring of nearly 1,740 miners fired after the mine was put under maintenance in 2008.

Zambia's mining sector, which was impacted by low copper prices in the initial half of 2009, received a boost when Luanshya Copper Mines was sold to the Chinese company and the Chambishi Metals cobalt smelter announced that it would resume production shortly after.

Early this year, the government dismissed the windfall tax on minerals initiated in 2008 after overseas miners threatened to postpone projects and terminate jobs due to problems faced in raising investment.

Zambia has completed an amended mineral empowerment policy that will encourage Zambians to take more active participation in the mining sector.

The government also wants to generate more job opportunities by developing huge mining properties in all major provinces, which will reduce the uneven distribution of mining wealth.

The government has started pushing uranium exploration activity in southern Zambia and manganese exploration in the north and north-west parts of the country. "

[Popeye82]

Freewest Announces Hearing on Shareholder Rights Plan - Nov 06, 2009
www.marketwire.com/press-release/Freewest-Resources-Canada-I…

[Popeye82]

African Eagle Resources - Drilling Results from Dutwa Nickel Project - Nov 06, 2009

+ Results received from first 17 of approximately 120 planned holes.

+ Key mineralised intersections include

- 18m at 1.2% nickel including 9m @ 1.7%
- 15m at 1.1% nickel
- 27m at 0.9% nickel

+ Option exercised on the Ngasamo deposit

+ Deposit modelling contract awarded to Snowden Mining Services

+ Logistics study awarded to Drum Resources Limited
www.africaneagle.co.uk/n/news_display.asp?id=200911/1353063

[Popeye82]

Azumah Raises A$4.24m To Accelerate Ghana Gold Exploration - Nov 06, 2009
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=468169

[Popeye82]

Lion Energy Corp. (TSX-V: LEO), Southern Star Energy Inc. (OTC Bulletin Board: SSEY) and Gold Star Resources Corp. (TSX-V: GXX) Announce Proposed Business Combination - Nov 6, 2009
www.newswire.ca/en/releases/archive/November2009/06/c6691.ht…

[Popeye82]

Salazar Provides Corporate Update - Nov 06, 2009
www.marketwire.com/press-release/Salazar-Resources-Limited-T…

[Popeye82]

Evolving Gold Announces Bought Deal Private Placement Financing of $10,000,080 - Nov 03, 2009
www.marketwire.com/press-release/Evolving-Gold-Corp-TSX-VENT…

[Popeye82]

Golden Valley Mines-19,000m Definition Drill Program on the Jeffrey Zone Osisko Reports Drill Program Now Underway on Malartic CHL Prospect - Nov 06, 2009
www.marketwire.com/press-release/Golden-Valley-Mines-Ltd-TSX…

[Popeye82]

Lydian Announces Private Placement; Resource Sector Specialists Macquarie Bank Invests $2 Million - Nov 6, 2009
www.marketwire.com/press-release/Lydian-International-Ltd-TS…

[Popeye82]

Global food safety group meets with Chinese envoys - FoodNavigator - Nov 4, 2009

- By Caroline Scott-Thomas -
www.foodnavigator-usa.com/Financial-Industry/Global-food-saf…

"Chinese food safety delegates met with international food safety experts in Minnesota this week to conclude a two-week program discussing individual nations’ role in the development of global standards.

The safety of food imports, particularly from China, has been on the US agenda in many forms recently, including the current discussion in Congress of a bill to overhaul food safety. Last year’s melamine-tainted milk scandal and trade tensions created by a ban on imports of Chinese poultry have also ramped up concern over the issue. However, Food and Drug Administration (FDA) Commissioner Margaret Hamburg has emphasized the agency’s commitment to developing closer ties with international officials in response to public health risks.

The Global Initiative for Food Systems Leadership (GIFSL) organized the exchange with the 22 Chinese delegates – senior food safety officials from government, industry and academic sectors. GIFSL is a public-private-academic partnership which receives funds and input from the Food and Agricultural Organization of the United Nations (FAO), Cargill, General Mills, Ecolab, the Dutch Food Safety Authority, and the University of Minnesota, among others.

The group’s meeting in Minnesota has included a tour of a General Mills facility and meetings with local health officials. Later this week, the program will focus on safe practices in the dairy supply chain, and conclude with a roundtable discussion with industry food safety leaders.

Vice president of Ecolab Food Safety Katherine Swanson said: "GIFSL provides a critical leadership network of key stakeholders from government, industry, and academia to act together to identify needs and harmonized approaches for enhanced food safety globally.”

The Minnesota meeting follows two days in Rome discussing international safety standards with the FAO, a visit to a Cargill oilseed crushing facility near Amsterdam, and two days in Washington, DC, meeting with government agencies and industry associations.

GIFSL executive director and professor of veterinary medicine and public health at the University of Minnesota Will Hueston said: "Everyone in the food supply chain has some responsibility for ensuring food safety. It takes a collaborative effort to ensure safety, and that's one of the goals of this project."

US food safety officials have extended their efforts to reach broad agreement on global food safety standards over the past several months, including through Commissioner Hamburg’s meeting with European officials early in her tenure to discuss how standards could become more harmonized to reflect the globalized nature of the industry. "

[Popeye82]

USDA invests in organics - FoodNavigator - Nov 3, 2009

- By Caroline Scott-Thomas -
www.foodnavigator-usa.com/Financial-Industry/USDA-invests-in…

"The US Department of Agriculture (USDA) has announced $19m in funding for organic agricultural research across the country as part of a drive toward a more sustainable supply of organic ingredients.

The investment, part of the USDA’s Know Your Farmer, Know Your Food initiative launched in September, is intended to “break down structural barriers that have inhibited local food systems from thriving,” the department said, and that includes investing in organic agricultural development in an effort to keep up with rapidly expanding demand.

Agriculture deputy secretary Kathleen Merrigan said: "Organic agriculture is one of the fastest growing segments of US agriculture and USDA and Congress, through the 2008 Farm Bill, are committed to helping this industry succeed by addressing critical organic agriculture issues through the integration of research, education and extension projects.”


Supply squeeze

A departmental report flagged up the problem of squeezed organic ingredient supply in June this year. It found that nearly half of US organic handlers found ingredients in short supply, and in 2004, 13 percent failed to meet market demand for at least one of their products.

"These grants…will help develop local and regional food systems and spur economic opportunity by assisting organic producers with new production and marketing practices to meet rising consumer demand," Merrigan said.

Indeed, demand has been rising at a far faster rate than supply. Although certified organic acreage has doubled in the US since 1997, organic food sales have quintupled over the same period, from $3.6bn to $24.6bn last year, according to USDA figures. This has led handlers to look to international markets for supplies – which can often be cheaper due to lower labor and input costs.

US organic demand has outstripped supply since the early 1990s – when many organic suppliers were forced to sell their products on conventional markets due to a lack of consumer demand. Now, the most problematic supply issues are found with coffee, soybeans, milk, seeds, corn, and nuts.

The organic sector now accounts for about three percent of total US food sales, and is forecast to experience “slowing but steady growth” of 19 percent to 2013, according to market research organization Mintel.

Last month, the USDA awarded $1,666,000 to the Organic Trade Association for projects that tackle trade issues for organic products.

Thirty universities have benefited from the latest USDA grants. "

[Popeye82]

"Gold testet die 1.100 USD
- Miriam Kraus -


Liebe Leserin, lieber Leser,

Rohstoffe Wochenrückblick: Energie und Metalle

Die Aktienmärkte entwickelte sich in dieser Woche uneinheitlich. Während der DAX im Wochenvergleich um rund 1,4% zulegen konnte, verbuchte der Nikkei gegenüber der Vorwoche ein Minus 2,4%. Der Shanghai Composite Index legte gegenüber der Vorwoche ganze 5,6% zu und der Dow Jones notiert aktuell mit rund 3,1% im Plus gegenüber der Vorwoche.

Während von Seiten der Unternehmen nach wie vor überwiegend positive Berichte vermeldet werden, bleiben die Nachrichten von der Konjunkturfront weiterhin gemischt. Das deutsche Wirtschaftsministerium vermeldete zwar für September erneut einen Anstieg der Auftragseingänge im Verarbeitenden Gewerbe, der Anstieg fiel mit 0,9% gegenüber dem Vormonat allerdings schwächer aus als erwartet. Dagegen steigen allerdings die Exportaufträge im September deutlich um 3,7% an gegenüber dem Vormonat.

Aus den USA meldet das Handelsministerium einen Anstieg der Bauausgaben und anstehenden Hausverkäufe, während das ISM bekannt gab, dass sich die Geschäftsaktivitäten des Verarbeitenden Gewerbes deutlich verbessert haben. Auch die Auftragseingänge für Industriegüter sind - laut US-Handelsministerium - im September gestiegen. Dagegen haben sich - laut ISM - die Geschäftsaktivitäten im Dienstleistungssektor im Oktober verschlechtert. Insbesondere die am Freitag veröffentlichten US-Arbeitsmarktdaten fielen überraschend deutlich schlechter aus als erwartet. Laut US-Arbeitsministerium hat sich die Lage am Arbeitsmarkt im Oktober sichtlich verschlechtert. So ist die US-Arbeitslosenquote im Oktober auf 10,2% gestiegen - dies entspricht dem höchsten Stand seit April 1983. Der Konsens hatte zuvor nur einen Anstieg auf 9,9% erwartet.

Die FED hat - wie erwartet - den Leitzins unverändert in einer Range zwischen 0 und 0,25 % belassen. EUR/USD der am Dienstag bis auf 1,4626 gefallen war, konnte sich im Verlauf der Restwoche wieder deutlich erholen und testete mehrmals die 1,49. Nach Veröffentlichung der Arbeitsmarktdaten konnte der USD wieder leicht zulegen. Aktuell notiert EUR/USD bei 1,4834.


Energie

Die Ölpreise konnten in Korrelation zu den Aktienmärkten und der EUR/USD-Entwicklung am Dienstag deutlich zulegen.

WTI notierte am Mittwoch sogar kurzzeitig bei 81 US-Dollar pro Barrel, nachdem das US-Energieministerium einen überraschend deutlichen Rückgang der Öllagerbestände bekannt gegeben hatte. Laut Ministerium sind in der vergangenen Woche die Ölbestände um 3,9 Millionen Barrel gefallen. Ausschlaggebend hierfür sind allerdings in erster Linie rückläufige Importe und eine sinkende Raffinerieauslastung. Die Benzin- und Destillatsbestände verzeichneten hingegen nur einen schwachen Rückgang, was weiterhin auf eine schwache Nachfrage hindeutet.

Am Freitag dann gerieten die Ölpreise aufgrund der schwachen US-Arbeitsmarktdaten erneut deutlich unter Druck.

WTI zur Lieferung im Dezember notiert aktuell bei 76,80 US-Dollar pro Barrel an der NYMEX.

Brent Crude zur Lieferung im Dezember notiert aktuell bei 75,34 US-Dollar pro Barrel an der ICE Futures Exchange in London.


Metalle

Edelmetalle

Der Goldpreis hat am Freitag im Zuge der extrem schwachen US-Arbeitsmarktdaten ein neues Allzeithoch erreicht und kurzfristig die Marke bei 1.100 US-Dollar pro Feinunze überschritten. Seit Beginn der Woche hat der Goldpreis damit um fast 55 US-Dollar zugelegt.

Der Goldpreis profitiert weiterhin von der Kombination aus gemischten bis schwachen Wirtschaftsdaten, zunehmender Unsicherheit und Skepsis in Bezug auf einen rechtzeitigen Ausstieg aus den massiven fiskalpolitischen Stimulierungsprogrammen in den USA (und auch andere Zentralbanken lassen so bald keine Abkehr von der extrem lockeren Geldpolitik erkennen). Zudem wirkt natürlich weiterhin die Negativ-Korrelation zur USD-Entwicklung unterstützend.

Gold notiert aktuell bei 1.095,50 US-Dollar pro Feinunze in New York.

Der London Gold Fix PM wurde heute bei 1.096,75 US-Dollar pro Feinunze festgesetzt.


Basismetalle

Mit deutlicher Unterstützung durch konjunkturfreundliche Stimmung, steigende Aktienmärkte und USD-Schwäche legten auch die Industriemetallpreise in dieser Woche weiter zu.

Am Freitag belasten die schwachen US-Arbeitsmarktdaten die Preise im Vergleich nur minimal, denn die Schwäche am Arbeitsmarkt signalisiert zugleich die Fortführung der lockeren Geldpolitik der FED.

Konjunkturmetall Kupfer notiert aktuell bei 2,93 US-Dollar pro Pfund an der COMEX.


Ausblick: Ölpreis vorerst in Range
von Miriam Kraus


Soft Commodities

Die Grains haben im Wochenvergleich leicht abgegeben, trotz zwischenzeitlicher Unterstützung zur Wochenmitte hin in Korrelation zu Konjunkturfreude, steigenden Aktienmärkten und USD-Schwäche.

Am Mittwoch notierten Sojabohnen im Nearby-Future bei 10,20 US-Dollar pro Scheffel, gaben an den zwei Folgetagen allerdings wieder deutlich ab. Ähnlich Mais, der im Nearby am Mittwoch zwischenzeitlich bei 3,96 US-Dollar pro Scheffel notierte.

Grund für die Preiskorrektur seit Mittwoch ist die Aussicht auf eine verbesserte Wetterlage in den US-Anbaugebieten. Bislang hatten Regenfälle und niedrige Temperaturen die Ernte erschwert. Bis zum 1.November sind bislang nur rund 51% der US-Sojabohnen- und nur 25% der Maisernte eingefahren worden. Damit entspricht der aktuelle Erntefortschritt dem langsamsten Level seit 1986.

Doch nun prognostiziert World Weather Inc. für die nächsten 6 Tage wärmeres, trockeneres Wetter im Mittleren Westen der USA - genug damit das schlammige Erdreich trocknen und die Feldarbeit wieder aufgenommen werden kann.

Sojabohnen zur Lieferung im Januar notieren aktuell bei 9,59 US-Dollar pro Scheffel an der CBOT. Mais zur Lieferung im Dezember notiert aktuell bei 3,66 US-Dollar pro Scheffel an der CBOT.


Ausblick

Nach wie vor gibt es keine Hinweise für ein deutliches Verbrauchswachstum oder ein Nachfragewachstum nach Öl und Ölprodukten, insbesondere in den USA. Laut Energy Information Administration lag die Nachfrage nach Ölprodukten in den letzten 4 Wochen um 4,5% niedriger als im Vorjahr. Auch die Internationale Energieagentur wird offenbar in der kommenden Woche ihre langfristige Prognose für die Ölnachfrage erneut nach unten korrigieren. Erst in diesem Jahr hatte die IEA ihre Prognose für die weltweite Nachfrage bis zum Jahr 2013 bereits um 6,5% nach unten revidiert. Grundsätzlich sollten diese fundamentalen Faktoren einem weiteren Ölpreisanstieg vorerst entgegen stehen. Dennoch - die Märkte sind aktuell vor allem stimmungsgetrieben, so dass immer wieder auch mit Überraschungen zu rechnen ist. Vorerst sollte sich der Preis allerdings in einer Range zwischen 75 und 80 USD stabilisieren.

So lange die Daten vom US-Arbeitsmarkt weiterhin so schwach ausfallen, dürfte es die FED schwer haben ihre Nullzinspolitik aufzugeben. Dies wiederum ist nach wie vor ein Argument, welches für eine längerfristige US-Dollar-Schwäche spricht (von einer mittelfristig möglichen Aufwärtsbewegung abgesehen) und damit auch den Goldpreis längerfristig unterstützt. Ebenfalls dürften weitere Zentralbankskäufe (Indien gab in dieser Woche den Kauf von 200 Tonnen Gold vom IWF bekannt) dem Goldpreis Unterstützung bieten.

Selbst wenn China mit seinem Stimulierungsprogramm und steigenden Infrastrukturausgaben auch im kommenden Jahr die Nachfrage nach Industriemetallen im Allgemeinen und Kupfer im Besonderen wieder unterstützen wird, muss man sich doch die Frage nach der Verbrauchsentwicklung in den übrigen Ländern, insbesondere in den westlichen Industrienationen, stellen. Sollte es hier nicht zu einem deutlichen Wachstum kommen, dann dürfte auch das aktuelle, von positiver Stimmung und hoher vorhandener Liquidität getriebene Preislevel nicht zu halten sein.

So lange die Erntephase nicht abgeschlossen ist bleiben die Grains deutlich schwankungsanfällig. Doch grundsätzlich dürften während der aktuellen Phase die Jahrestiefs erreicht werden und hernach, im Angesicht weltweit knapper Lagerbestände, die Preise neuen Aufwind erfahren. Zudem bleiben die Ernteergebnisse abzuwarten.

So long liebe Leser....das war es wieder einmal für diese Woche von meiner Seite aus....ich wünsche Ihnen ein ruhiges und erholsames Wochenende und freue mich auf nächsten Montag, wenn wir uns wiederlesen....

Ihre Miriam Kraus "

[Popeye82]

"Fisch bald nur noch im Zoo?
- Volkmar Michler -


Liebe Leserin, lieber Leser,

Könnte es sein, dass Fisch bald nur noch im Zoo zu bestaunen ist? Wissenschaftler und Umweltverbände sind sich einig: Wenn die Ozeane weiter so ausgeplündert werden wie bisher, wird spätestens 2049 die kommerzielle Fischerei am Ende sein.

Dies ist eine Prognose der FAO, der Ernährungs- und Landwirtschaftsorganisation der Vereinten Nationen (Food and Agriculture Organization), die auch von der Fischerei-Expertin Heike Vesper des Internationalen WWF-Zentrum für Meeresschutz in Hamburg bestätigt wird: „ Die Fischbestände können sich auf wieder zurückentwickeln, wenn man sie in Ruhe lässt". Weitest gehend passiert aber das Gegenteil.

Weil die europäischen Fischbestände überfischt sind, jagen die Fangflotten zunehmend in fremden Gewässern den letzten Fischen hinterher, zum Beispiel vor den Küsten Westafrikas. „So werden die Probleme der Überfischung exportiert, anstatt sie zu lösen", kritisiert der WWF.

Konkret: Weltweit können sich derzeit nur 1% der Fischbestände erholen, Eindrittel gelten bereits als überfisch (das bedeutet: sie stehen kurz vor dem Kollaps), über 50% der Fischbestände befinden sich an ihren biologischen Grenzen. Lediglich 20% werden als „unterfischt" bezeichnet. „Das sind dann aber auch wirklich die allerletzten Reserven."


Die Tage der herkömmlichen Fischerei sind gezählt

Das Problem ist nicht nur, dass weltweit die Nachfrage nach Fisch immer weiter zunimmt, sowohl in Europa, den USA, als auch in den Schwellenländern. Das Problem ist auch: unverantwortliche Fangquoten-Politik, Vernichtung großer Lebensräume durch falsche Fangpraktiken sowie illegale Fischerei.

Dabei „hängt unser Überleben von den Meeren ab", schreibt zum Beispiel die Europäische Kommission und formuliert eine EU-Meeresstrategie: „Das Erreichen eines guten Zustands der Meeresumwelt bis 2021".

Wer nicht so lange warten will, kann schon jetzt etwas tun -sowohl als Anleger als auch als Verbraucher. Durch den knapper werdenden Fisch werden in Zukunft die Fischpreise wieder steigen, nicht nur aus saisonalen Gründen zum Jahresende. Eine Chance für Fisch-Aktien, besonders für Fischfarmen.

Darum geht es heute Abend auch ab 21.30 Uhr in der Live-Sendung der 3satBörse, zu der ich als Gesprächspartner eingeladen bin.

Gute Kurse wünscht Ihnen

Volkmar Michler "

[Popeye82]

MagIndustries Acquires Potasse du Congo - Nov 06, 2009
www.marketwire.com/press-release/Magindustries-Corp-TSX-MAA-…

[Popeye82]

Why We Are Impatient Optimists - B &MGF - Oct 27, 2009
www.gatesfoundation.org/livingproofproject/Pages/impatient-o…

[Popeye82]

Thompson Creek posts $19,7m Q3 profit - Mining Weekly, TORONTO - Nov 6, 2009

- Liezel Hill -
www.miningweekly.com/article/thompson-creek-posts-197m-q3-pr…

[Popeye82]

Ecuador says could start mineral exports in 2012 - Reuters, QUITO - Nov 5, 2009
www.miningweekly.com/article/ecuador-says-could-start-minera…

"QUITO - Ecuador could start exporting minerals in 2012 once the country's nascent mining sector moves into production, President Rafael Correa said on Wednesday, predicting the industry will propel economic development.

Correa signed a mining law reform on Wednesday that could help clear the way for gold, copper and silver exploration to resume in the Andean country, setting the stage for production and eventual exportation.

"The exportation of minerals will probably begin in 2012," Correa said during a public address on Wednesday. Exports will give development in the country a "decisive push".

Ecuador's biggest mining projects -- involving Canadian firms Kinross Gold, Corriente Resource and Iamgold – have been paralyzed while the leftist government draws up rules to govern the sector aimed at giving the state more control over the country's natural resources. "

[Popeye82]

SA's Mantashe calls for ideas on mining nationalisation - Sapa - Nov 5, 2009
www.miningweekly.com/article/mantashe-calls-for-ideas-on-min…

[Popeye82]

Codelco merges energy assets with GDF Suez - Reuters, SANTIAGO - Nov 6, 2009
www.miningweekly.com/article/codelco-merges-energy-assets-wi…

[Popeye82]

Chinese companies talk to UK miner about Sierra Leone iron-ore - Mining Weekly, JOHANNESBURG - Nov 6, 2009

- Keith Campbell -
www.miningweekly.com/article/chinese-companies-talk-to-uk-mi…

"JOHANNESBURG (miningweekly.com) - British mining company London Mining has revealed that it is in talks with major Chinese groups about its Marampa iron-ore project in Sierra Leone.

“We’re having these discussions now,” London Mining CEO Graeme Hossie told Bloomberg News. “I’m confident they will lead to potential cooperation which could include investments to accelerate production or a joint venture.”

The Chinese groups concerned are Sinosteel – China’s biggest iron-ore trader – and China Minmetals, which is the country’s largest metals trader. Hossie had previously reported that his company was holding discussions with China National Railways.

London Mining has started work on developing Marampa, the first phase of which requires a capital investment of $85-million, which will be drawn from the company’s cash reserves of $230-million. Marampa is wholly owned by London Mining and is a brownfield hematite iron-ore project.

The Marampa mine was operational from 1933 to 1975, and achieved a peak production of 2,5-million tons a year of iron-ore. London Mining acquired an exploration licence for the property in 2006.

In September, London Mining received a new mining licence and lease covering 13 82 km2 as well as a package of fiscal incentives and commitments from the Sierra Leone government. Parliamentary ratification of this package is expected before the end of this year.

Phase one of the Marampa project will see the production of 1,5-million tons a year of fine sinter feed from the reprocessing of the existing mine tailings dumps. This target is scheduled to be reached in 2011.

Phase two, which is expected to commence in 2013, will see the restart of mining of the primary orebody, in an openpit operation. This will add more than 1,5-million tons a year of concentrate production, taking Marampa’s total production to more than three-million tons a year. Phase two is expected to be funded by incremental cash flow generated by phase one production.
Edited by: Creamer Media Reporter "

[Popeye82]

The State of Seafood Report - MBA - Oct09
www.montereybayaquarium.org/cr/cr_seafoodwatch/content/media…

[Popeye82]

Gunman kills 12 at U.S. Army base - Reuters, KILLEEN - 06 NOV 2009 03:56 GMT

- By Erwin Seba -

- KILLEEN, Texas (Reuters) - An Army psychiatrist opened fire with two handguns at the Fort Hood Army post on Thursday, killing 12 and wounding 31 others, Army officials said, adding the suspect was shot several times but survived. -
http://in.reuters.com/article/southAsiaNews/idINIndia-437252…

[Popeye82]

Iran tested advanced nuclear warhead - report - Reuters, LONDON - 06 NOV 2009 05:09 GMT

- LONDON (Reuters) - The U.N. nuclear watchdog has asked Iran to explain evidence suggesting the Islamic Republic's scientists have experimented with an advanced nuclear warhead design, the Guardian reported in its Friday edition. -
http://af.reuters.com/article/worldNews/idAFL537586720091106

"LONDON (Reuters) - The U.N. nuclear watchdog has asked Iran to explain evidence suggesting the Islamic Republic's scientists have experimented with an advanced nuclear warhead design, the Guardian reported in its Friday edition.

The newspaper, citing what it describes as "previously unpublished documentation" from an International Atomic Energy Agency compiled dossier, said Iranian scientists may have tested high-explosive components of a "two-point implosion" device.

The IAEA said in September it has no proof Iran has or once had a covert atomic bomb programme.

The Vienna-based IAEA was not immediately available for comment on Thursday.

Iran's Foreign Ministry and the Atomic Energy Organisation of Iran (AEOI) were also unavailable for comment when contacted by Reuters.

The IAEA statement in September followed reports from the Associated Press quoting what it called a classified IAEA document saying agency experts agreed Iran now had the means to build atomic bombs and was heading towards developing a missile system able to carry a nuclear warhead.

The Guardian report said that even the existence of two-point implosion nuclear warhead technology is officially secret in both the United States and Britain.

The technology allows for the production of smaller and simpler warheads, making it easier to put a warhead on a missile, the newspaper said.

Extracts of the dossier have been published before, but it was not known the dossier included documentation of such a sophisticated warhead, the newspaper said.

U.N. inspectors found "nothing to be worried about" in a first look at a previously secret uranium enrichment site in Iran last month, IAEA chief Mohamed ElBaradei said in remarks released on Thursday.

ElBaradei also told the New York Times that he was examining possible compromises to unblock a draft nuclear cooperation deal between Iran and three major powers that has foundered over Iranian objections.

A nuclear site, which Iran revealed in September three years after diplomats said Western spies first detected it, added to fears of covert Iranian efforts to develop atom bombs. Iran says it is enriching uranium only for electricity.

(Reporting by David Sheppard; Editing by Louise Ireland) "

[Popeye82]

H1N1 to cause more deaths in northern winter: WHO - Reuters, GENEVA - 05 NOV 2009 17:56 GMT

- By Stephanie Nebehay -

- GENEVA (Reuters) - The H1N1 swine flu virus has picked up steam in the northern hemisphere and is expected to cause more serious infections and deaths as cold weather sets in, the World Health Organization (WHO) said on Thursday. -
www.reuters.com/article/healthNews/idUSTRE5A227820091105

[Popeye82]

Microsoft CEO sees Yahoo partnership outside U.S. - Reuters, TOKYO - 05 NOV 2009 18:51 GMT

- TOKYO (Reuters) - Microsoft Corp Chief Executive Steve Ballmer said on Thursday the company's search engine partnership with Yahoo would not be limited to the U.S. but would be introduced around the world, once it gets regulatory approval. -
www.reuters.com/article/technologyNews/idUSTRE5A41PM20091105

[Popeye82]

Who built Berlin Wall? Most Russians don't know - Reuters, MOSCOW - 05 NOV 2009 19:11 GMT

- MOSCOW (Reuters) - More than half of all Russians do not know who built the Berlin Wall, one of the most enduring symbols of the Cold War, an opinion poll showed Thursday. -
www.reuters.com/article/worldNews/idUSTRE5A44NR20091105

[Popeye82]

Exxaro takes coal business into high-margin downstream arena - Mining Weekly, LEPHALALE - Nov 5, 2009

- Martin Creamer -
www.miningweekly.com/article/-1970-01-01-10

[Popeye82]

GM readies Opel plan - Reuters, DETROIT/RUSSELSHEIM - 06 NOV 2009 06:48 GMT

- By Kevin Krolicki &Christiaan Hetzner -

- DETROIT/RUSSELSHEIM, Germany (Reuters) - General Motors Co on Thursday said it was readying a plan to restructure Opel and could pay off debt due this month as German workers went on strike to protest the automakers decision to keep the European unit. -
http://in.reuters.com/article/businessNews/idINIndia-4372972…

"DETROIT/RUSSELSHEIM, Germany (Reuters) - General Motors Co on Thursday said it was readying a plan to restructure Opel and could pay off debt due this month as German workers went on strike to protest the automakers decision to keep the European unit.

Thousands of auto workers put down tools at German factories, saying GM had betrayed their interests by reversing a decision to sell a majority stake in Opel to a Russian-backed consortium led by Magna International.

GM's board decided earlier this week to keep Opel -- stepping away from months of painstaking negotiations -- and to seek government aid in Europe for a restructuring plan expected to cut thousand of jobs.

About half of Opel's 50,000 workers are in Germany, where government aid to support the GM unit has been a source of controversy for the government of Chancellor Angela Merkel.

Merkel, who lobbied for the Magna-led takeover of Opel, raised her concern over GM's decision with U.S. President Barack Obama. In a telephone conversation with Merkel late on Wednesday, Obama said he had not been involved in the surprise decision by the GM board which has angered the German government, representatives of both sides said.

"The Chancellor made clear that the German government would urge General Motors to present a new plan as quickly as possible and to repay bridge financing by the end of November," said the spokesman in a statement.

Hesse state Premier Roland Koch, one of the biggest advocates of Magna's bid, told rallying workers at Opel headquarters on Thursday that he would fight for the firm.

"We want Opel to continue to exist," he said, warning GM not to "maximise profits by taking German workers hostage."

Several workers said they did not believe the company could preserve its European arm, blaming it for incompetence.


GM: CONFIDENT WE CAN FIND THE MONEY

GM Chief Executive Fritz Henderson told reporters in Detroit he was confident that GM can find the 3 billion euros in financing needed to keep and restructure Opel.

Henderson declined to say how many jobs would have to be cut at Opel or what plants would be closed, saying those details would be presented to Germany and other European governments soon as part of a restructuring plan.

Opel has the liquidity it needs to pay off the 900 million euros ($1.34 billion) remaining on a bridge loan from the German government.

At the same time, GM can find ways to provide financing to Opel from its U.S. operations even after a restructuring funded by U.S. taxpayers that had placed some initial restrictions on the automaker's ability to shift funds to its overseas units.

"We will be very shortly presenting our plan," Henderson said. "We feel confident that the plan will be financeable."

Henderson said GM could provide liquidity to Opel by reducing the royalties that the European unit would otherwise pay to headquarters.

The terms of GM's exit from bankruptcy in the United States after taking $50 billion in U.S. government financing also allow GM to send funding directly to Opel if needed, he said.

"We are able to run a global business. We certainly need to be prudent about it. We need to be careful about it but we can run a global business," Henderson said.

Henderson acknowledged that the automaker had "work to do to repair" its relations with the European unions.

In Moscow, Russian Prime Minister Vladimir Putin also lashed out at GM.

"We will have to take into account this style of dealing with partners in the future, though this scornful approach toward partners mainly affects the Europeans, not us," Putin told a cabinet meeting in Moscow.

"GM did not warn anyone, did not speak to anyone ... despite all the agreements reached and documents signed. Well, I think it is a good lesson."

One of the concerns for GM about the sale of Opel to Magna had been how to keep intellectual property from spilling over to Russia, a market it expects to contribute to a growing share of sales in coming years.

British Business Secretary Peter Mandelson said GM's decision had created uncertainty. But he also said the decision could benefit European taxpayers, especially in Britain, Germany and Spain, and that workers at GM's Vauxhall unit in Britain would prefer to keep the same management.

Vauxhall employs about 5,500 people.

Countries with GM-owned plants -- Germany, Britain, Spain and Belgium -- were originally expected to provide aid for the rescue of loss-making Opel.

(Writing by Elizabeth Piper; Editing by Andrew Callus, Phil Berlowitz) "

[Popeye82]

Insider trading probe ensnares 14 more - Reuters, NEW YORK - 06 NOV 2009 00:08 GMT

- By Matthew Goldstein &Jonathan Stempel -

- NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers. -
http://uk.reuters.com/article/idUKTRE5A43DF20091106

"NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers.

In complaints that read like scripts for the TV series "The Sopranos," investigators alleged suspects dropped off bags full of cash, used prepaid cellphones to dodge wiretaps, and used nicknames such as "the Greek" and "the Octopussy."

"Some of the defendants -- taking a page from the drug dealer's playbook -- deliberately used anonymous, hard-to-trace, prepaid cellphones in order to avoid detection," U.S. Attorney Preet Bharara told a news conference on Thursday.

"When sophisticated business people begin to adopt the methods of common criminals, we have no choice but to treat them as such," he added.

Federal prosecutors have alleged $40 million (24 million pounds) of insider trading profits from their investigation so far. The U.S. Securities and Exchange Commission has alleged $53 million of illegal profits in its own civil investigation. The SEC total includes some profits not reflected in the criminal probe.

The latest charges involve some of the same companies and individuals implicated in the Galleon Group insider trading scandal that broke three weeks ago. It was unclear whether the illegal networks were linked.

"People will probably ask just how pervasive is insider trading these days? Is this just the tip of the iceberg?" Bharara said. "We aim to find out."


RAJARATNAM BAIL REMAINS $100 MILLION

In the largest branch of the investigation, Zvi Goffer, manager of New York-based trading firm Incremental Capital, was accused of leading an insider trading ring that netted $11 million.

Prosecutors said they had uncovered illegal profits of more than $20 million, on top of the $20 million that authorities say was pocketed by the Galleon Group.

The Galleon case is already the biggest hedge fund insider trading scheme in Wall Street history, and in Thursday's complaint one of the suspects admitted to years of insider trading apparently overlapping with his time at a former job at SAC Capital, perhaps the nation's best-known hedge fund.

Raj Rajaratnam, Galleon's billionaire founder, is accused of masterminding the operation. He lost a bid to have his $100 million bail reduced, though a U.S. magistrate judge agreed to ease his travel restrictions.


BACK ON THE BEAT?

The Galleon case is turning into one of the biggest insider trading rings since the Ivan Boesky scandal of the 1980s led to the end of a gilded age for Wall Street and ultimately brought down Michael Milken's Drexel Burnham Lambert.

Investigators' aggression in the current probes contrasts with the years of failure to spot the Ponzi scheme masterminded by Bernard Madoff.

"The regulatory cops are saying in a very loud voice, 'We're back on the beat,'" said Michael Holland, founder of the money management firm Holland & Co in New York.

Prosecutors introduced a new group of suspects including Goffer, who previously worked at Galleon, and Michael Kimelman, an Incremental Capital co-founder and former Sullivan & Cromwell LLP merger lawyer.

A former Moody's Corp (MCO.N) analyst, an executive with a wireless networking firm, and others were among those charged with leaking confidential information about takeovers and other activities.

Calls recorded by law enforcement officials were littered with nicknames, like "the Greek" and "the Rat," and jokes about getting information from a guy fixing a pothole. Targets were code-named "the Hilton Hit" and "the Apple."

"Someone's going to jail, going directly to jail, so don't let it be you, OK?" Goffer said according to a criminal complaint. "That's a ticket right to the (expletive) Big House.


ATHEROS LINK

Also arrested were Ropes & Gray LLP lawyer Arthur Cutillo; Craig Drimal, who worked in Galleon's office; Emanuel Goffer, Zvi's brother; Jason Goldfarb, also a lawyer; and David Plate, both also associated with Incremental Capital.

Investigators said Zvi Goffer, 32, identified as the Octopussy for his supposed ability to gather information, provided tipsters with prepaid cellphones to minimize the chances of getting caught.

He worked for almost all of 2007 at Schottenfeld, a New York-based broker dealer that has been tied to previous allegations of improper trading. investigators said. He then moved to Galleon in 2008, where he worked for about eight months before quitting to start Incremental Capital.

His scheme involved shares of network equipment maker 3Com Corp (COMS.O), telecom equipment maker Avaya Inc and drugmaker Axcan Pharma Inc TPGPH.UL, according to the criminal complaint.

Prosecutors also charged Deep Shah, a former Moody's ratings analyst, and Ali Hariri, a vice president at wireless networking chipmaker Atheros Communications Inc (ATHR.O), with leaking confidential information.

The government said Shah, 27, lives in India. A spokeswoman for Bharara's office declined to say whether prosecutors would seek Shah's extradition.

Moody's spokesman Michael Adler said Shah had not worked at the company since 2007. Moody's will cooperate with investigators, and has "strict policies against divulging confidential information," he added.

Hariri, 38, was arrested in San Francisco. Atheros said it put him on leave pending the results of an internal probe into his alleged insider trading.


ROOMY KHAN

Another five individuals, who were previously charged, have pleaded guilty to insider trading charges, prosecutors said, including current or former executives of hedge funds S2 Capital and Spherix Capital LLC.

Also pleading guilty was Roomy Khan, a convicted felon and former Intel employee widely cited as a central cooperating witness in the Galleon probe.

Ali Far, the founder of Spherix, a California-based hedge fund, and Richard Choo-Beng Lee, its former president, have admitted to engaging in illegal insider trading for many years, according to their cooperation agreements.

In the case of Lee, the agreements suggest that he engaged in illegal insider trading while working at Steven Cohen's SAC Capital, a Connecticut-based hedge fund. SAC did not immediately return a call seeking comment.

At a hearing before U.S. Magistrate Judge Theodore Katz, bail was set for Cutillo, Drimal, Emanuel and Zvi Goffer, Goldfarb, Kimelman and Plate at between $100,000 and $500,000 each, with limited travel including the surrender of passports. The defendants were arrested in the pre-dawn hours.

(Writing by Steve Eder and Christian Plumb; Additional reporting by Elinor Comlay, Anupreeta Das, Steve Eder, Edith Honan and Dan Wilchins in New York; Svea Herbst-Bayliss in Boston; Alexandria Sage in San Francisco, and Gina Keating in Los Angeles; editing by John Wallace, Gary Hill and Leslie Gevirtz) "

[Popeye82]

Blackstone in U.S. mall deal with Glimcher - Reuters, NEW YORK - 05 NOV 2009 23:08 GMT

- NEW YORK (Reuters) - Private equity firm Blackstone Group is to buy stakes in two of Glimcher Realty Trust's malls by setting up a joint venture with the group, the pair announced on Thursday. -
www.reuters.com/article/euPrivateEquityNews/idUSTRE5A46ER200…

[Popeye82]

DOE to fund seven clean energy small hydro upgrades; The US Energy Department will provide up to $30.6m in economic stimulus funds for infrastructure modernization at seven small hydroelectric sites, part of an agency program to increase clean hydropower generation and efficiency - ReCharge - Nov 5, 2009

- Richard A. Kessler -
www.rechargenews.com/energy/wave_tidal_hydro/article198002.e…

"The expanded hydro generation projects will have estimated incremental costs of less than 4 cents a kilowatt hour on average.

Facility operators will deploy innovative technologies such as high-efficiency, fish-friendly turbines, improved water intakes and advanced control systems, says Energy Secretary Steven Chu.

“One of the best opportunities we have to increase our supply of clean energy is by bringing our hydropower systems into the 21st Century,” he says.

“With this investment, we can create jobs, help our environment and give more renewable power to our economy without building a single new dam,” he adds.

DOE sought cost-shared projects that upgrade existing hydropower facilities without requiring significant civil works modifications to dams, allowing for them to be developed quickly to help create jobs and stimulate the local economy.

The solicitation sought two classes of projects: those larger than 50 megawatts of installed capacity and those of 50MW or smaller.

The selected projects will increase generation by an estimated 187,000 megawatt hours a year, enough to meet the annual electric usage of more than 12,000 homes.

This incremental generation is virtually carbon free, and it represents a reduction in carbon dioxide emissions of over 110,000 tons a year compared to electricity from the average U.S. grid, according to Chu.


The following projects have been selected for negotiation of awards for the amount listed:

Project upgrades at units larger than 50MW

*Alabama Power Company, Mitchell, Alabama, up to $6m. The project will raise efficiency and upgrade four units at three hydroelectric plants on the Coosa River by replacing 1940s to 1960s vintage turbines with new high-efficiency stainless steel ones that maximize each unit’s ability to utilize the limited available water. Power generation will increase 7.3%.

*Alcoa, Robbinsville, North Carolina, up to $13m. The project will replace four 90-year-old Francis turbines with four new high-efficiency stainless steel turbines, generators, and transformers, providing an additional 22 MW of generating capacity at Alcoa’s Tapoco Cheoah plant. Power generation will increase 23%.

*City of Tacoma, up to $4.67m, for a project in Potlach, Washington state. Project will add two 1.8 MW Francis turbines to the existing 81MW Cushman No. 2 Dam. Power generation will increase 14%.


Project upgrades at units less than 50MW

*City of Boulder, Colorado, up to $1.18m. The project will upgrade the 100 year-old Boulden Canyon hydro facility by replacing two older turbines with a single, high-efficiency unit. Hazardous asbestos will be removed.

**Energy Northwest, Packwood, Washington, up to $800,000. The project will design, manufacture, and install a new state-of-the-art Pelton Wheel turbine at the Packwood Lake Hydroelectric facility.

*County of Los Alamos, New Mexico, up to $4.56m. This project will add a new turbine/generator to boost output by 3MW at a hydroelectric plant in Abiquiu. The project’s environmental benefits include higher dissolved oxygen content in downstream water and increased minimum flows. Power generation will increase 23%.

*North Little Rock Electric Department, Arkansas, up to $450,000. This project will install an automated intake maintenance device at its 39MW hydroelectric facility on the Arkansas River to clear debris currently obstructing the intake. It will allow the facility to operate consistently at near peak efficiency and significantly reduce the high cost of dredging. "

[Popeye82]

Spanish wind power output hits peak of 45% of demand; Spain’s wind power output reached a new peak of 45.1% of total demand during the early hours of 5 November, grid operator Red Electrica de Espana (REE) said - ReCharge - Nov 5, 2009

- Ben Backwell -
www.rechargenews.com/energy/wind/article197989.ece?utm_sourc…

[Popeye82]

EU, US to increase cooperation through Energy Council; Officials from both sides of the Atlantic launched a new EU-US Energy Council was launched today in Washington. The launch was attended by EU Energy Commissioner Andris Piebalgs and US Secretary for Energy Steven Chu - ReCharge - Nov 4, 2009

- Ben Backwell -
www.rechargenews.com/business_area/politics/article197698.ec…

"The EU said that the Energy Council will provide a “new framework for deepening the transatlantic dialogue” on issues such as energy supply security and the transition to low carbon energy sources while strengthening scientific collaboration on energy technologies.

"The Energy Council is a timely initiative in the context of growing global concerns on energy security and the important role that the energy sector has in climate change. Elevating these discussions between us to a political level underscores the importance we both attach to this area of our relationship", said Piebalgs.

The council will meet annually, alternating between the EU and the US and report to the EU-US Summit. The EU will be represented by the EU Commissioners for External Relations, for Energy, and for Science and Research, as well as the EU

Presidency, while the US side will be represented by the Secretaries of State and of Energy.

The wind sector welcomed the initiative. Christian Kjaer, Chief Executive of the European Wind Energy Association said: “The focus of this new cooperation has to be on the technology that is ready to be deployed and deliver CO2 reductions targets in the short term - by 2015 according to the IPCC. This means that wind energy has to be a key element of the new cooperation and top of the new Council’s agenda. “ "

[Popeye82]

An Experimental Study of Auctions versus Grandfathering to Assign Pollution Permits - RFF, Discussion Paper - Sep09

- Jacob Goeree, Charles Holt, Karen L. Palmer, William Shobe &Dallas Burtraw -

- Abstract
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot market should erase inefficiencies due to initial mis-allocations. In the experiment, high emitters exercise market power in the spot market and permit holdings under grandfathering remain skewed towards high emitters. Furthermore, the opportunity costs of “free” permits are fully “passed through.” In the auction, the majority of permits are won by low emitters, reducing the need for spot-market trading. Auctions generate higher consumer surplus and slightly lower product prices in the laboratory markets. Moreover, auctions eliminate the large “windfall profits” that are observed in the treatment with free, grandfathered permit allocations. -
www.rff.org/RFF/Documents/RFF-DP-09-39.pdf

[Popeye82]

Resources Magazine - RFF - Nov09
http://video.rff.org:8000/~rff/uniflip/resources173/index.ht…
http://video.rff.org:8000/~rff/uniflip/resources173/document…

[Popeye82]

Backtest Indicates Accuracy of Audit Integrity Bankruptcy Risk Model - Research Recap - Nov 7, 2009
www.researchrecap.com/index.php/2009/11/06/backtest-indicate…

[Popeye82]

Highly Leveraged Borrowers to Compete for Limited Dollars; Companies to vie for lenders’ attention as $800bn wave of debt comes due in next five years - Research Recap - Nov 7, 2009
www.researchrecap.com/index.php/2009/11/06/highly-leveraged-…

[Popeye82]

Today's headlines - Point Carbon - Nov 7, 2009
www.pointcarbon.com

"Today's headlines

*Scientists lower deforestation emissions estimate
*Carbon falls 3.5%
*Phase 3 EUAs needed early, Ieta warns
*Japan prepares ETS design
*Russia won’t budge on AAU surplus
*US pledge essential for climate pact: de Boer
*Rich country 2020 pledges 16-23%: UN
*Indian PM dashes hopes for targets
*Czech coal power output down 7.5%
*Japan to cut emissions 80% by 2050: PM
*Climex auction sells VERs at €7
*Apec to call for 50% carbon cuts
*CDM investors wary of Philippines energy plan
*RGGI plateaus in thin trade "

[Popeye82]

Iamgold erzielt höchsten Quartalsgewinn aller Zeiten - Financial.de - Nov 5, 2009
www.financial.de/experten/2009/11/05/iamgold-erzielt-hochste…

[Popeye82]

TopStory: Metallpreise durch sinkende Gradierungen und neue Funde gestützt - Financial.de - Nov 4, 2009
www.financial.de/news/top-stories/2009/11/04/topstory-metall…

"metalsTopStory: Sinkende Erzgradierungen und größere neue Funde dürften die Metallpreise nach Ansicht von Analysten auf längere Sicht abstützen. Nach Aussage von Charl Malan, Chef-Analyst bei Van Eck Global, hat sich bereits die durchschnittliche Kupfermenge in einer Tonne geförderten Gesteins von 1,5% in den frühen 1990er Jahren auf nunmehr 1,25% verringert. Bis zum Jahr 2012 rechne er mit einem weiteren Rückgang auf 1,09%. Der Grund hierfür liege im Älterwerden der Minen. Bei Beginn der Förderung befinde sich das Metall näher an der Oberfläche und sei leicht zugänglich. Wenn man jedoch in tiefere Schichten vordringen müsse, sei ein höherer Aufwand nötig, um die gleiche Metallmenge zu gewinnen. Das bedeute höhere Kosten für die Produzenten und in der Konsequenz höhere Preise für das Produkt. So hat die größte Kupfermine der Welt, Escondida in Chile, einen Rückgang des Outputs in den ersten neun Monaten des Jahres um 21% auf 788.126 von 997.001 t im Vorjahr bekanntgegeben und diesen hauptsächlich mit sinkenden Erzgradierungen begründet. Diese Entwicklung gibt es auch bei vielen anderen Basis- und Edelmetallen.

So befinden sich die traditionellen Nickelsulfidvorkommen in Kanada und Russland auf dem Rückzug. Der Markt sei zusehends auf kleine Projekte mit niedrigeren Gradierungen oder auf Nickellaterite angewiesen, die schwerer zu verarbeiten sind, meint Catherine Virga von CPM Group. Der Einbruch der Rohstoffpreise im vergangenen Jahr hat dazu geführt, dass einige Projekte von 2010-11 auf 2012-13 verschoben wurden. Allerdings werden immer seltener große neue Funde getätigt. Charl Malan berichtet, dass während des Siebenjahresabschnitts bis 1998 in sechs Jahren zwischen vier und sechs Goldvorkommen der Weltklasse entdeckt worden seien. Seit Anfang dieses Jahrzehnts seien es dagegen nicht mehr als zwei Funde pro Jahr gewesen, und in manchen Jahren seien sogar überhaupt keine neuen Vorkommen aufgedeckt worden. Dieser Trend gelte auch für die Basismetalle, und das trotz erheblicher Explorationsausgaben. "

[Popeye82]

Peruvian port workers protest against privatization; The group said it started a two-day strike on Thursday against privatization and the modernization of Paita - Reuters, LIMA - Friday , 06 Nov 2009
www.mineweb.com/mineweb/view/mineweb/en/page504?oid=92034&sn…

[Popeye82]

"==============================================================
01. INFO-KICKER: WIEDERVEREINIGUNG ALS IDEOLOGISCHE CHANCE - HT - Nov 7, 2009
==============================================================

Liebe Börsenfreunde,

es ist modern, die Kursanstiege kritisch zu sehen und
Reichsbedenkenträger haben nun wieder Hochkonjunktur, denn die
positiven Quartalsberichte werden wieder seltener. Die Zeit der
Quartalsberichte geht zu Ende. So ist jeder Anleger sauer auf
den Analysten, der ihm eine falsche Aktie empfohlen hat, aber
niemand ist sauer auf den Analysten, der einen am Anfang einer
fulminanten Rallye vor einem Einstieg gewarnt hat. Komisch,
oder?

Nun, ich denke dass wir noch immer eine ganze Menge von
günstigen Aktien an der Börse haben und sehe die aktuelle
Korrektur wieder einmal als Einstiegschance. Nicht einmal die
hohe Arbeitslosenquote, die heute in den USA gemeldet wurde,
vermochte diesen Bullenmarkt in die Knie zu zwingen.

Im Kapitel 02 zeige ich Ihnen die positiven Entwicklungen der
vergangenen Wochen auf und beschwere mich darüber, wie diese
positiven Entwicklungen zu negativen Schlagzeilen führten.
Lassen Sie sich nicht in die Irre führen.

Im heutigen Ausblick habe ich die wichtigsten Indizes einer
charttechnischen Analyse unterzogen. Ich tue dies einmal im
Monat, um die Entwicklung mit etwas Abstand besser einordnen zu
können. Diesmal ist mir aufgefallen, dass der schwache US-
Dollar zu unterschiedlichen Reaktionen bei DAX und Nikkei
gegenüber dem Dow Jones geführt hat.

Im Kapitel Kolumnen Ticker habe ich Ihnen meine Wunschanalyse
zu Amazon eingefügt, die ich am Mittwoch erstellte. Das
Unternehmen ist bewundernswert, der CEO konsequent und pfiffig.
Doch das Bewertungsniveau ist bereits zu hoch.

Die heutige Leserfrage beschäftigt sich mit dem Thema
Spracherkennung für Smartphones. Ein interessantes Thema, doch
die vom Leser vorgeschlagene Aktie ist bereits sehr hoch
bewertet – zu hoch in meinen Augen.

Bitte schauen Sie auch in Kapitel 06, dort gibt es eine ganze
Reihe von Updates zu unseren offenen Positionen.

20 Jahre Wi(e)dervereinigung und wir haben noch immer keine
blühenden Landschaften im Osten. Als Wessi sind mir manche
Entscheidungen der Biene Merkel viel zu rot, jedoch muss auch
ich in diesen Tagen eingestehen, dass die von Westerwilli
vertretene Linie der freien Marktwirtschaft nicht einmal in den
USA die Arbeitslosigkeit in den Griff bekommt. Irgendetwas
anderes läuft da noch immer falsch.

Ihr Autor ist gerade in Südafrika und sieht die Heerscharen von
Schwarzen, die einem Taschen nachtragen, den Einkauf einpacken,
die Tür aufhalten, den Garten instandhalten, usw. ... Dinge,
die wir eigentlich alle alleine tun können. Und die Schwarzen
bekommen dafür Stundenlöhne, die bei uns als unmoralisch
abgetan würden.

In Deutschland haben wir gut bezahlte Jobs und diejenigen, die
das Privileg haben, in einen solchen Job zu passen, arbeiten
rund um die Uhr und werden ihrer Arbeitslast kaum Herr.
Gleichzeitig gibt es in Deutschland eine ganze Reihe von
weniger qualifizierten Arbeitskräften, für die es nicht genug
Arbeit gibt. Wenn man diese beiden Länder gegenüberstellt, dann
wird der Mindestlohn zu einem Luxusgut, den wir uns in
Deutschland leisten. Doch der soziale Unfriede, der aus der
daraus folgenden erhöhten Arbeitslosigkeit folgt, ist
gleichfalls wieder eine Belastung.

Nun ist also der Kommunismus gescheitert, niedrige Löhne für
unausgebildete Arbeitskräfte sind unmoralisch, die Mindestlöhne
der sozialen Marktwirtschaft lösen das Problem nicht und die
freie Marktwirtschaft läuft inzwischen ebenfalls in eine
Sackgasse. Vielleicht müssen wir uns einmal neue Gedanken über
unsere Idee der Beschäftigung machen. Und warum nicht in
Deutschland, wo zwei unterschiedliche Systeme in einer Kultur
zusammen gewachsen sind. Die Wi(e)dervereinigung hat auf beiden
Seiten zu vielen Verbesserungen geführt. Vielleicht entsteht ja
aus unserer interessanten ideologischen Mischung eine
Betrachtungsweise für die Beschäftigung, die das Problem der
Arbeitslosigkeit löst oder zumindest vermindert. Ich würde es
mir wünschen.

Ich wünsche Ihnen eine angenehme Lektüre,

take share, Ihr
Börsenschreibel

Stephan Heibel

Chefredakteur und
Herausgeber des
Heibel-Ticker

P.S.: Lassen Sie mich Ihre Meinung, Kritik oder
Verbesserungsvorschläge wissen (selbst Lob ist willkommen ;-)
und schreiben Sie mir an leserbrief/at/heibel-ticker/./de.

==============================================================
02. SO TICKT DIE BÖRSE: POSITIVE FAKTEN, NEGATIVE SCHLAGZEILEN
==============================================================

Fanni Mae erlaubt es den gestrandeten Immobilienbesitzern, die
ihre Immobilie nicht sicher durch die Immobilienkrise
manövrieren konnten, in der eigenen Immobilie gegen eine
Mietzahlung wohnen zu bleiben. Jeder erstmalige Hauskäufer
erhält ein Steuergeschenk in Höhe von 8.000 US-Dollar und
dieses Programm wird weiter ausgeweitet. Der Finanzierungszins
für Hypothekenkredite steht unter 5%, also fast so niedrig wie
kurz vor der Immobilienkrise. Und Wells Fargo bietet allen
säumigen Hypothekenkreditschuldnern die Fortführung der
Hypothek bei Zahlung der „nur-Zinsen“, also ohne Tilgung.

In den schlimmsten Regionen der Immobilienkrise der USA, in
Florida und Kalifornien, haben sich die Preise stabilisiert.
Ein großes Angebot an Zwangsversteigerungen findet auf diesem
Preisniveau Käufer, der Markt wird also bereinigt. All das sind
Zeichen dafür, dass die Immobilienkrise ausgestanden ist. Die
USA, ein Zuwandererland, braucht neuen Wohnraum und nachdem es
davon in den vergangenen Jahren zuviel gab, wird dieser
Überhang nun abgearbeitet. Das ist die Voraussetzung für einen
gesunden Immobilienmarkt. Ich finde die Entwicklungen also
durchaus ermutigend.

Doch was lesen wir in der Presse: Mit Schlagzeilen wie „Mehr
Zwangsversteigerungen denn je“ oder „Lockere
Hypothekenkreditvergabe durch Wells Fargo birgt die Gefahr
einer Wiederholung der Immobilienblase von 2007 / 2008“... mit
solchen Schlagzeilen wird suggeriert, dass das Schlimmste noch
bevor steht. Doch das ist, zumindest auf Sicht von 3-4 Jahren,
falsch. Der Markt erholt sich, die Preise stabilisieren sich
und die Wirtschaft gewinnt an Fahrt.

John Chambers, CEO von Cisco, sprach diese Woche davon, dass
die Konjunkturerholung an Schwung gewinne. Die gesamte Chip-
Industrie meldete gute Zahlen und gab sich für die Zukunft
optimistisch, doch Morgan Stanley stufte die gesamte Branche ab
mit der Bemerkung, der Chip-Zyklus liefe nicht ordentlich an.
Die Käufe der vergangenen Monate waren nur Ersatzkäufe für die
leeren Lager. Doch Cisco, Intel, Qualcomm, Novellus, Nvidia,
und viele mehr sprechen eine andere Sprache: Sämtliche CEOs
haben deutlich zwischen Ersatzkäufen und anziehender Nachfrage
unterschieden. Und alle sprachen von einer anziehenden
Nachfrage. Was hat den Analysten von Morgan Stanley geritten?

Warren Buffet hat diese Woche den größten Kauf seines Lebens
getätigt: Für 44 Mrd. USD kaufte er Northern Burlington Santa
Fe Railroads, die zweitgrößte Eisenbahnlinie der USA. Eine
Eisenbahn! Die Eisenbahn gilt in den USA als extrem
konjunkturabhängig. Auf ihr werden die Güter mit endlos langen
Zügen durch das Land gefahren. Schwächelt die Konjunktur, so
schwächelt auch die Eisenbahn. Der Kauf von Warren Buffet ist
ein Statement für eine Genesung der US-Konjunktur. Aber in den
Schlagzeilen liest man nur die Frage „Is Buffet out of his
mind“? (Hat Buffet seinen Verstand verloren?)

So gibt es eine Reihe von positiven Anzeichen, die von den
Massenmedien nicht aufgegriffen oder falsch interpretiert
werden. Und dann kommt am heutigen Freitag die Meldung, auf die
alle Bären gewartet haben: Die Arbeitslosenquote in den USA ist
auf über 10% gestiegen. Erstmals seit 1983 steht die
Arbeitslosenquote wieder bei 10,2%. „Jobless recovery“ –
„Aufschwung ohne Arbeitsplätze“ tituliert man in den USA diese
Situation, denn wie Sie gesehen haben, geht es den Unternehmen
nicht schlecht, aber Arbeitsplätze werden nicht geschaffen.

Damit können wir die Amerikaner nun willkommen heißen in diesem
elitären Club. Auch hierzulande ist es heute bereits soweit,
dass die Steuereinnahmen unseres Landes von lediglich einem
Drittel der Bevölkerung gezahlt werden. Der Rest erhält unterm
Strich mehr als er zahlt. Sozialer Zündstoff steckt in dieser
Feststellung, denn wie kann ein nachhaltiger Aufschwung
getragen werden, wenn zwei Drittel der Bevölkerung unterm
Strich nichts für den Wohlstand des Landes beitragen, sondern
quersubventioniert werden müssen? Eine Arbeitslosenquote von
10,2% ist schon ein deutliches Zeichen dafür, dass die soziale
Schere immer weiter aufgeht, die Steuerlast wird auf immer
weniger Schultern verteilt.

10,2% Arbeitslosenquote ist eine Hausnummer, die jedem Bären
seine schlimmsten Befürchtungen bestätigt. Ich hätte erwartet,
dass die Weltuntergangs-Double-Dip, so-kann-es-nicht-
weitergehen-Fraktion diese Arbeitslosenquote nimmt und als
Beweis für ihre Behauptungen heranzieht. Und in Folge dessen
müsste der Dow Jones schon bald wieder auf 7.000 Punkte fallen.
Vor diesem Hintergrund hätte mich heute ein Ausverkauf mit
einem Minus von 5% oder mehr nicht überrascht. Schauen wir mal,
wie sich die Börse heute hält: Ups, grüne Vorzeichen. Hmmm, und
das trotz der katastrophalen Arbeitslosenquote? Hmmm,
vielleicht ist also diese Situation bereits im Kursniveau
enthalten. Vielleicht sind 10% Arbeitslose noch nicht genug, um
ein System zum Kippen zu bringen.

Ich für meinen Teil sehe, wie profitabel die Unternehmen sind
und wie günstig noch immer in vielen Branchen das
Bewertungsniveau ist. Vor diesem Hintergrund wundert es mich
nicht, dass die heutigen Arbeitsmarktdaten aus den USA nicht
für einen Ausverkauf sorgten. Schauen wir uns die
Wochenperformance der wichtigsten Indizes einmal an:

INDIZES 5.11.09

Dow Jones 10.005 0,4%
DAX 5.480 -1,9%
Nikkei 9.789 -2,4%
Euro/US-Dollar 1,485 0,1%
Euro/Yen 133,41 -1,2%
10-Jahre-US-Anleihe 3,53% 0,0
Umlaufrendite Dt 3,09% 0,1
Feinunze Gold USD $1.095,60 4,8%
Fass Crude Öl USD $78,61 -2,5%
Baltic Dry Shipping I 3.335 10,7%

Der Dow Jones kann im Plus schließen, DAX und Nikkei hingegen
haben kräftig abgegeben. Ich führe das darauf zurück, dass der
US-Dollar in den vergangenen Tagen die schlimmsten
Befürchtungen genährt hat: Ein neuer Angriff der Tiefs bei 1,60
USD/EUR ist nun wahrscheinlich, entsprechend wird auch der US-
Dollar gegenüber dem Yen weiterhin schwach bleiben. Diese
Entwicklung hilft den Exporten der US-Unternehmen, die
Gewinnsituation der US-Unternehmen wird verbessert. Die
Leidtragenden sind deutsche und japanische Unternehmen, die
ihre im teuren Inland produzierten Güter zu billigen US-Dollars
verkaufen müssen.

So wenden die USA wieder einmal ihre als Rückgrat der
Weltfinanzen verwendete Währung an, um ihre eigene Schuldenlast
zu senken (Geld drucken, Abwertung). Wenn dem so ist, dann
flüchten einige Anleger weg vom US-Dollar und finden ihren
sicheren Hafen im Gold, das neue Allzeithochs schreibt.

Man sollte meinen, dass in einem solchen Umfeld die
Verunsicherung wächst. Schauen wir einmal, was die
Privatanleger und die Analysten dazu sagen:

SENTIMENTDATEN

ANALYSTEN:
Empfehlungen (Anzahl Empfehlungen):

Kaufen / Verkaufen
16.-23. Okt (172): 73% / 27%
23.-30. Okt (145): 72% / 28%
30.10.-6.11.(134): 73% / 27%

ANALYSTEN KAUF
Fresenius Medical Care, GEA Group, Linde

ANALYSTEN VERKAUF
Commerzbank, Hugo Boss, Beiersdorf

PRIVATANLEGER:
Aktuell 57% Bullen (+2%, 70 Stimmen)
Durchschnittlich erwarteter DAX-Endstand für heute: 5.417

PRIVATANLEGER KAUF
Infineon, United Internet

PRIVATANLEGER VERKAUF
CIT Group

Die Sentiment-Daten wurden in Zusammenarbeit mit Sharewise
erstellt: http://www.sharewise.com?heibel

Während Analysten schon seit einigen Wochen unverändert eine
Kaufempfehlung nach der anderen raushauen, ist der Optimismus
unter den Privatanlegern mit 57% Bullen relativ verhalten. Da
haben wir schon wesentlich bullischere Zahlen gesehen. Das Bild
passt in meine obige Erklärung: Wer sich die Ertragssituation
von Einzelunternehmen anschaut, wie es Analysten tun, dem fällt
das günstige Bewertungsniveau auf. Wer sich jedoch von den
Massenmedien in seiner Meinungsbildung beeinflussen lässt, wie
es leider noch immer viel zu häufig die Privatanleger tun, der
wird verunsichert.

Ich bleibe bei meiner mittelfristig positiven Erwartung,
wenngleich wir uns inmitten einer kurzfristigen Korrektur
befinden. Einen Überblick über die charttechnische Situation
und der daraus abzuleitenden Erwartungen für die nächsten
Wochen habe ich Ihnen im nächsten Kapitel gegeben.

==============================================================
04. WUNSCHANALYSE: AMAZON NUTZT DAS INTERNET IM KAMPF UM
EINZELHANDELS-MARKTANTEILE
==============================================================

Amazon wird als Internet-Unternehmen verstanden, doch das
Unternehmen nutzt lediglich das Internet. Den Einzelhandel
kennt das Unternehmen besser als jedes andere, die Logistik ist
effizienter als jede andere und das Management ist konsequenter
als jedes andere. Ein Marktführer, der bereits ein stolzes
Bewertungsniveau erreicht hat.


DER LETZTE ÜBERLEBENDE INTERNET-DINOSAURIER

Amazon gehört schon zu den Internet-Dinosauriern: Riesengroß
und uralt. Die meisten Dinosaurier sind inzwischen
ausgestorben: Altavista, Excite, AOL, Infospace, Inktomi, ...
Ein paar letzte kämpfen noch ums Überleben, wie beispielsweise
Yahoo! und eBay. Doch so schnell, wie man im Internet Erfolg
haben kann, so schnell kann man seine Führungsposition auch
wieder verspielen. Yahoo! hat es über Jahre nicht geschafft,
den Offline-Werbemarkt auf das Internet umzuschreiben. Google
hat dies mit AdWords geschafft, Yahoo! ist heute nur noch damit
beschäftigt, Werbeplakate auf die langsam seltener werdenden
Werbeflächen zu kleben (Banner).

eBay hingegen hatte sich eine quasi-Monopolstellung für Online-
Auktionen erkämpft. Doch statt das Auktionsgeschäft auszubauen,
wurden neue Abenteuer eingegangen: Skype wurde gekauft, Paypal
als Zahlungsmittel groß gemacht. Insbesondere der Vorstoß in
den Einzelhandel brachte neues Umsatzwachstum, zerstörte jedoch
die für das Internet so typischen großen Gewinnmargen.

Amazon begann als Online-Buchhandel und fügt seither sukzessive
neue Geschäftsbereiche hinzu. Dabei ist Amazon bis zum heutigen
Tage stets seinem ursprünglichen Geschäftsmodell treu
geblieben: Durch gute Kenntnisse über den Kunden kann Amazon
extrem günstige Logistikkosten realisieren und bietet somit
fast immer nahezu den günstigsten Preis für jegliche Produkte
an.

Die Gründerzeit im Internet dauerte nur wenige Jahre. Schon ab
Anfang 2000 ging der Eroberungskampf in einen Verteilungskampf
über. Amazon hatte bereits große Marktanteile beim Online-
Buchhandel erobert und Investoren wollten nun die Früchte ihrer
Investition ernten. Doch Gründer Jeff Bezos hat sich von Anfang
an mit seinen Investoren angelegt: Jahr für Jahr forderten sie,
„abzukassieren“, die Gewinnmargen zu erhöhen und weniger zu
investieren. Teilweise wurden diese Forderungen sogar
quartalsweise auf jeder Analystenkonferenz nach den
Quartalsergebnissen diskutiert. Doch Bezos, der selber mit über
20% größer Eigner von Amazon ist, investierte und investierte
immer weiter in den Ausbau der Logistik sowie der Software. So
ist Amazon heute komfortabel, informativ, günstig und schnell.

Das Resultat: Die operative Gewinnmarge ist mit 4,5% für ein
Internetunternehmen extrem gering, doch für einen Einzelhändler
in Ordnung. Und noch immer erobert Amazon weitere Marktanteile
hinzu, Quelle und Karstadt haben dies am eigenen Leibe erfahren
müssen. Längst erhalten Sie bei Amazon nicht mehr nur Bücher,
sondern auch Elektronikartikel, Küchengeräte, Drogeriebedarf,
Spielsachen, Baumarktartikel und Bekleidung.

Der geniale Schachzug von Jeff Bezos war, vielen Einzelhändlern
Amazon als Plattform zur Verfügung zu stellen. Amazon hat da
mit der Abwicklung nichts zu tun, das Unternehmen stellt
lediglich die Plattform und den rechtlichen Rahmen zur
Verfügung. Doch alle Transaktionen laufen über die Amazon-
Software und entsprechend lernt Amazon wieder mehr über die
Vorlieben seiner Kunden. Und dieses Wissen kann Amazon sodann
dazu nutzen, um die beliebtesten Produkte selbst anzubieten.

Denn je mehr Amazon über die Nachfrageseite weiß, desto
gezielter kann es die Logistik, die Lagervorräte, die
Produktzusammenstellung etc. danach ausrichten und desto
günstiger werden die Stückkosten. Quelle und Karstadt sind nur
zwei alte große Versandhändler, die nun die Tore schließen
müssen. Kleine Einzelhändler müssen jedoch ihre Flexibilität
nutzen, um immer wieder bessere Produkte und günstigere Preise
anbieten zu können. Andernfalls werden auch sie von Amazon
überrollt. Und für das Überrollen von unzähligen kleinen
Einzelhändlern gibt es keine Schlagzeilen.


DAS MANAGEMENT: JEFF BEZOS

Jeff Bezos ist heute 47 Jahre alt. Zwar entspringt er der
Generation der Internetgründer, doch in Turnschuhen und T-Shirt
hat er niemals gearbeitet. Er war von Anfang an ein
Geschäftsmann, der mit Investoren knallhart verhandeln konnte
und seine geschäftlichen Interessen zielstrebig verfolgte.
Bezos ist keine markante Persönlichkeit, an der man Amazon
aufhängen könnte, so wie Apple an Steve Jobs oder Microsoft an
Bill Gates. Aber als Gründer, CEO, Präsident und
Aufsichtsratsvorsitzender (ja, das geht in den USA in
Personalunion) gibt es niemanden bei Amazon, der nicht nach
seiner Pfeife tanzt.

Anders als alle anderen Internetunternehmen hat er nicht die
riesigen Gewinnmargen gesucht, sondern war von Anfang an clever
genug zu wissen, dass er sich gegen die kleinen Margen der
Offline-Welt behaupten muss.

Und anders als alle anderen Internet-Unternehmen hat Jeff Bezos
nicht nur die kreative Gründungsphase geleitet, sondern managte
auch erfolgreich den harten Verteilungskampf.

Und anders als alle anderen mir bekannten Internetunternehmen
hat er sein Geschäftsmodell bis zum heutigen Tage nicht
verändert. Er erweitert nur das Produktspektrum.

Der Erfolg des Internetunternehmens Amazon liegt also in meinen
Augen zu einem großen Teil darin begründet, dass Bezos zwar das
Internet nutzt, aber gleichzeitig die Offline-Welt versteht.


SAUBERE BILANZ ABER HOHES BEWERTUNGSNIVEAU

Langfristige Schulden hat Amazon nicht, es liegen 4 Mrd. USD
liquide Mittel auf den Konten und jährlich kommen aus dem
freien Cashflow weitere 1,7 Mrd. USD hinzu. Beneidenswert. Der
Umsatz wuchs in den vergangenen fünf Jahren mit
durchschnittlich 25% p.a., diese Wachstumsrate wird auch für
die kommenden 5 Jahre erwartet. Solange die Konjunktur stabil
läuft, ist ein KGV von bis zu 50 denkbar.

Derzeit notiert Amazon bereits auf einem KGV von 70. Auf Basis
der Schätzungen für 2010 würde das KGV auf 50 fallen. Viel
Spielraum für einen weiteren Kursanstieg gibt es da dann nicht
mehr.

So ist auch das Bewertungsniveau mit einer Marktkapitalisierung
von 50 Mrd. USD für einen Jahresumsatz von 30 Mrd. USD ein
stolzer Preis. Da darf dann nicht mehr viel schief gehen bzw.
viel Raum für positive Überraschungen gibt es nicht.


GUTES MOMENTUM FÜR DIE WEIHNACHTSZEIT

Der größte Teil des Jahresumsatzes wird auch bei Amazon in der
Weihnachtszeit erzielt. Nachdem Amazon in den letzten Quartalen
regelmäßig die Erwartungen um über 30% übertreffen konnte,
rechnet man auch für das laufende Quartal mit einem guten
Ergebnis.

30% besser als von bezahlten, professionellen Analysten
erwartet, ist schon eine gute Leistung. Diese Analysten
beobachten den Markt und die Wettbewerber und ziehen daraus
ihre Schlüsse. Sie sprechen mit dem Unternehmen und gleichen
ihre Einschätzungen ab. Da gibt es nicht viel, was ein
Unternehmen noch verstecken kann. Lediglich wenn das
Unternehmen wesentlich besser abschneidet als die Branche
kommen solche großen Überraschungen zustande.

Und dies ist Amazon wiederholt gelungen. Schauen Sie sich eBay
an: Das Unternehmen versucht verzweifelt, den Umsatz seines
Einzelhandelsnetzes zu steigern, doch als Auktionshaus ist das
schwer. Darüber hinaus hat Amazon einfach eine gute Abwicklung
und steht bei den meisten Produkten für eine schnelle,
kostengünstige Lieferung ein. Da kann eBay nicht mithalten.

Solche Überraschungen sind in dieser Berichtssaison sonst nur
Apple und Google gelungen. Nun gibt es eine Menge Hedgefonds
und Momentum-Jäger, die Aktien kaufen, die gerade „einen Lauf“
haben. Und bei Amazon stehen die Zeichen weiterhin auf Grün,
denn das Weihnachtsgeschäft steht vor der Tür.

Ich erwarte für die nächsten zwei Monate, dass Apple, Google
und Amazon drei der wichtigsten Aktien an der Börse sein
werden. Wann immer für den breiten Markt steigende Kurse
erwartet werden, wird sich die spekulative Gemeinde der Trader
auf diese drei Aktien stürzen, um möglichst überproportionale
Gewinne einzufahren.

Dies wird solange funktionieren, bis eines dieser drei
Unternehmen eine enttäuschende Meldung ausgibt, oder aber bis
Weihnachten ist.


FAZIT

Bezos wird Amazon auch in den nächsten Jahren weiter ausbauen,
das heutige Kursniveau wird sich sicherlich in ein paar Jahren
als günstig herausstellen. Doch mittelfristig ist der Kurs zu
stark angesprungen: Ein KGV 2010e von 50 ist selbst für einen
Branchenführer zu hoch.

Kurzfristig hat Amazon die Trader-Gemeinde hinter sich, denn
das Unternehmen bringt all das, was sich ein Trader wünscht:
Umsatzwachstum und eine wachsende Wachstumsgeschwindigkeit.
Gewinnwachstum und auch dort eine wachsende Geschwindigkeit.
Und auch die Gewinnmarge, wenn sie auch klein sein mag, wächst
derzeit etwas an. So stehen die Zeichen auf Wachstum. Doch wer
den Markt des Einzelhandels kennt, der weiß, dass die Margen
nicht zu stark wachsen können und somit wird diese Entwicklung
schon bald ein Ende haben. Kurzfristig kann man gerne in der
Aktie spekulieren. Doch nach Weihnachten, vielleicht schon ein
paar Wochen zuvor, dürfte der Kurs seinen Wachstumspfad
verlassen. Es stehen dann zumindest ein paar Quartale mit einer
Seitwärtsbewegung bevor, wenn nicht sogar eine Korrektur folgt.

===============================================================
05. LESERFRAGE: SPRACHERKENNUNG BEI SMARTPHONES
===============================================================

Ihre Fragen schicken Sie bitte an leserfragen/at/heibel-
ticker/./de. Ich werde künftig nur noch eine Leserfrage
veröffentlichen. Den Rest beantworte ich direkt. Bitte fragen
Sie mich nur zu Unternehmen mit einem Marktwert von mindestens
100 Mio. Euro bzw. USD.

=================

FRAGE:

Hallo Herr Heibel,

es gibt ein weiteres Wachstumsfeld, auch im Zusammenhang von
Smartphones interessant: Spracherkennung, Sprachsteuerung.

Dieses ist begleitet von einer Konzentration der relevanten
Anbieter (durch mehrere Übernahmen), die zukünftig den Markt
beherrschen dürften. Nuance und Svox, wobei Nuance wohl die
Nase vorn haben dürfte. Es wird ein ordentliches Wachstum
anvisiert, lässt sich auch an der Entwicklung der letzten Jahre
hochrechnen.

Die technische Situation (Chartbild etc.) stimmt mich auch
zuversichtlich. Nuance hat 2008 auch korrigiert, aber die
Kursentwicklung ist im Vergleich zu anderen Anlagen doch ganz
gut ausgefallen.

Viele Grüße, Peter aus Ulm


ANTWORT:

Besten Dank für den Hinweis: Das mobile Internet wird derzeit
zum Massenmarkt. Für die Spracherkennung könnte es in meinen
Augen noch ein wenig dauern, bis die soweit ist. Dennoch
funktioniert sie inzwischen recht gut, wie ich an meinem iPhone
sehen kann. Bei den Navigationssystemen wird Spracherkennung
inzwischen heftig eingesetzt.

Nuance Communications ist immerhin schon 4 Mrd. USD wert, und
das bei einem Jahresumsatz von rund 1 Mrd. USD. Das KGV 2010e
beträgt 13 und die Wachstumsraten sind nachhaltig über 15%. Der
Schuldenstand ist in Ordnung: 900 Mio. USD Schulden bei 420
Mio. USD freien liquiden Mitteln. Ich finde das
Bewertungsniveau vor diesem Hintergrund in Ordnung. Für einen
Wachstumsmarkt sind Wachstumsraten von 15% bestenfalls in
Ordnung, wie eben auch das Bewertungsniveau. Ich kann hier also
keinen Run auf diese Aktien sehen.

Zu Svox kann ich keine Aktie finden. "

[Popeye82]

Constitutional Court of Costa Rica Issues Initial Ruling
On 1:31 pm EST, Friday November 6, 2009
http://finance.yahoo.com/news/Constitutional-Court-of-Costa-…

[Popeye82]

Critical Path to Finalize Formation's Idaho Cobalt Project Mine Plan Established
On 11:47 am EST, Friday November 6, 2009
http://finance.yahoo.com/news/Critical-Path-to-Finalize-iw-7…

[Popeye82]

Labrador Iron Mines Environmental Impact Statement Accepted for Schefferville Area Iron Ore Project
On 9:01 am EST, Friday November 6, 2009
http://finance.yahoo.com/news/Labrador-Iron-Mines-cnw-418648…

[Popeye82]

Lake Shore Gold and West Timmins Mining Complete Business Combination
On 3:30 am EST, Friday November 6, 2009
http://finance.yahoo.com/news/Lake-Shore-Gold-and-West-iw-74…

[Popeye82]

Precious Metal Stock Review - Nov 7, 2009
www.preciousmetalstockreview.com/downloads/November 7, 2009 …

[Popeye82]

"Groesste Pleite seit Lehman
- Dr. Bernd Niquet -

An dieser Stelle muss ich zugeben, dass ich derzeit das Ge-
schehen rund um die internationalen Finanzmaerkte nicht mehr
genau verfolge. Schon Mitte des Jahres war ich der Meinung,
dass wir weitgehend durch sind durch die Krise, auch habe ich
meine Positionen festgezurrt und werde mich selbst in der
Korrekturphase nicht davon trennen.

Umso staerker bin ich daher auf die Presse angewiesen. Doch
was war das wieder fuer ein Fiasko in dieser Woche. Der Wirt-
schaftsjournalismus ist wirklich so schlecht wie der Journa-
lismus in keinem anderen Bereich. Man ist rettungslos verlo-
ren, wenn man darauf angewiesen ist. Wie ich am Dienstagmor-
gen.

Da lese ich in meiner Hauspostille "Die Welt": "CIT-Insolvenz
soll neuen Lehman-Schock verhindern - Groesste Bankenpleite
seit zwoelf Monaten". Oh je, denke ich. Den Sportteil habe
ich gerade durch, doch jetzt muss ich mich wohl daran machen.

"Der US-Mittelstandfinanzierer ist zahlungsunfaehig", lese
ich. Und: "In den Buechern von CIT stehen derzeit Verbind-
lichkeiten von 65 Mrd. Dollar nur noch Vermoegenspositionen
in Hoehe von 71 Mrd. Dollar gegenueber." Ich stutze. Das wird
wohl eine Verwechslung der Zahlen sein, kann ja mal passie-
ren. Doch warum wird erst gesagt, ein Unternehmen sei zah-
lungsunfaehig, wenn es doch in Wirklichkeit ueberschuldet
ist? Das hat ja nicht unbedingt zwangslaeufig etwas miteinan-
der zu tun.

Schon nach dem ersten Absatz spuere ich die Widersprueche, da
geht alles durcheinander. So wird man nicht informiert, son-
dern jetzt muss ich mir selbst alles zusammen suchen. Es soll
anscheinend ein Insolvenzverfahren durchgefuehrt werden, wo-
mit man "... Schulden in Hoehe von zehn Mrd. Dollar loswerden
will". Doch wie kann eine Schuldenreduktion Liquiditaet
schaffen? Und was ist hier ueberhaupt los?

Auch im Weiteren bleiben die Erklaerungen mysterioes: "In
Schwierigkeiten geriet CIT, nachdem sie ins Geschaeft mit
Studenten- und Subprimekrediten einstieg. In den vergangenen
neun Quartalen machte CIT fuenf Mrd. Dollar Verlust." Jetzt
sind also die Studenten schuld. Und die Subprimekredite ma-
chen sich erst jetzt bemerkbar? Und selbst wenn, dann fuehrt
das zu Abschreibungen, doch die sind nicht liquiditaetswirk-
sam.

Wie die Insolvenz ablaufen soll, wird so beschrieben: "Der
Wert von Schuldtiteln schrumpft auf 70 Prozent. 90 Prozent
der Glaeubiger stimmten dem Insolvenzverfahren zu. Dies war
die entscheidende Voraussetzung, damit die CIT ueberhaupt den
Antrag stellen konnte. Sie duerften den Grossteil der neu
auszugebenden Aktien erhalten." Und um noch eine Prozentzahl
hinzu zu addieren: Ich wette, dass 99 Prozent der Leser mit
diesem Text gar nichts anfangen koennen. Zumal von einer an-
scheinenden Kapitalerhoehung vorher gar nichts gesagt wurde.

So wird Information zur Desinformation. Das duestere Lehman-
Gefuehl kocht erneut hoch, doch Aufklaerung wird nicht ge-
leistet. Dadurch, dass man heute anscheinend Grundschueler
Wirtschaftsartikel schreiben laesst, wird eine grosse Nebel-
wand gezogen, die selbst den Interessierten nur noch ab-
schreckt, weil er das Gefuehl bekommt, die Dinge nicht ver-
stehen zu koennen. Doch er kann sie deswegen nicht verstehen,
weil die Berichte unverstaendlich sind, nicht jedoch die Ma-
terie.

Und an dieser Stelle entschuldige ich mich explizit bei allen
Grundschuelern. Denn sie haben den Vergleich mit Wirtschafts-
journalisten nicht verdient.

++++++

Bernd Niquet ist Boersenkolumnist und Buchautor. "

[Popeye82]

Berkshire Hathaway takes a $34 billion bet on future of US economy - Mineweb - Nov 4, 2009

- by Dorothy Kosich -
www.proactiveinvestors.com/companies/news/2913/berkshire-hat…

"Warren Buffett's $34 billion bet on the future of the U.S. economy puts Berkshire Hathaway in charge of the U.S's biggest shipments of cleaner, western coal to major utilities including its own MidAmerican Energy Holdings.

Burlington Northern Santa Fe (BNSF), which hauls enough coal to power one out of every 10 U.S. homes, has become Berkshire Hathaway's largest acquisition. The railway controls the critical rail lines linking coal from the Powder River Basin, the Northern Great Plains, the Western Interior Basin and the Illinois Basin to the major utility companies of southern California.

Jack Albin, chief investment officer at the Harris Private Bank in Chicago, told Reuters, "Buffet is trying to get into coal but doing it in a cheaper way."

"It's leveraged against coal's demand without actually having to buy the commodity itself," he said.

Buffett already owns 22% of the nation's second largest railroad and is now spending $34 billion in cash and stock in order to buy up all of Burlington Northern Santa Fe. He will also assume about $10 billion of the railroad's debt. Berkshire will pay $16 billion in cash and the rest in stock.

In a news release Tuesday, Buffet said, "Berkshire's $34 billion investment is BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry."

"Most important of all, however, it's an all-in wager on the economic future of the United States," he said. "I love these bets." Buffett already has holdings in the Union Pacific Railway (1.9% stake) and a 0.5% stake in the Norfolk Southern.

It should be noted that imports of coal to China are up 20% year to year. Burlington Northern ships the coal to through western U.S. ports. Coal shipments accounted for half the tonnage moved by Burlington Northern in this first nine months of this year. BNSF also is a key shipper of Asian products into the U.S. Interior.

In addition to the deal, Buffet announced Berkshire Hathway's board has approved a 50-for-1 split of its Class B common stock. The great majority of stock issued by Berkshire in the railroad acquisition announced Tuesday will be "A" shares. "B" shares will be needed to accommodate holders of smaller amounts of BNSF shares who opt for a share exchange rather than a cash payment.

"By splitting Berkshire ‘B' shares 50-for-1, we can accommodate even the smallest holding of BNSF shares that elect a tax-free exchange," the company said. Berkshire has agreed to purchase the railroad shares for $100 a share.

The Class B shares trade at over $3,000 while the Class A shares trade at more than $100,000.

Over the years Berkshire has acquired more than 60 subsidiaries and has major holdings in Coca-Cola and Wells Fargo. The company's biggest acquisition before BNSF was the $16 billion stock purchase of General Reinsurance Corporation in 1998. "

[Popeye82]

New agreement deals Starpharma Holdings into US$35.8b pesticides market - Proactive Investors - Nov 5, 2009

- by Andrew McCrea -
www.proactiveinvestors.com.au/companies/news/3149/new-agreem…

"Melbourne based Starpharma Holdings (ASX:SPL; OTCQX:SPHRY) has struck a research and collaboration agreement with a prominent US-based agricultural chemicals company.

Confidentiality reasons prevent the disclosure of the name of the collaborating company in the US.

DNT Inc, wholly owned subsidiary of Starpharma will work with the US chemicals company to enhance the performance of existing pesticides - utilising Starpharma's Priostar® dendrimer technology.

Under the agreement the parties will use DNT’s Priostar® world-leading dendrimer technology to enhance the performance of existing pesticides.

The agreement relates to specific classes of pesticides, this does not prevent Starpharma’s further commercialisation of dendrimers more widely in the agricultural chemicals sector.

The wider global market for agricultural chemicals for 2008 was estimated to be US$123.5 billion, of which pesticides represented US$35.8 billion.

The agreement enables Starpharma to leverage its existing dendrimer techology, used in drug delivery work, into completely new applications for the lucrative and large agricultural chemical market.

Dendrimers extend the persistence of an active molecule, potentially reducing the amount of active that is required for a given effect.

CEO of Starpharma Jackie Fairley said agricultural applications offer an exciting and significant opportunity for the company in what is a completely new market for Starpharma’s proprietary technology.

She said Starpharma is committed to building revenues through partnerships with market leaders in selected, commercially attractive industry sectors - as this deal and previous partnerships illustrate.

The advantage of the deal and this strategy is the company can rely on the partners' product knowledge and market position to more rapidly achieve revenues for Starpharma, leveraging SPL's core technologies into new markets, enabling Starpharma to focus its resources on its lead products.

Despite the US company unable to be named, the size of the agricultural chemicals market is vast in size, dealing Starpharma into a new market with strong revenue upside - taking a leaf through past Starpharma deals.

Investors may recall Starpharma’s core commercialisation of dendrimer technology is used in: sexual health (VivaGel® coated condoms – licensed to SSL International, and VivaGel® topical microbicide); drug delivery with GSK’s Stiefel laboratories; in vitro diagnostics through Siemens Healthcare; laboratory reagents through Qiagen and EMD Merck and animal health through Eli Lilly’s Elanco. "

[Popeye82]

High grade uranium hits continue for Thundelarra Exploration at Thunderball - Mineweb - Nov 5, 2009

- by Ross Louthean -
www.proactiveinvestors.com.au/companies/news/3135/high-grade…

"Thundelarra Exploration (ASX: THX) has announced its best intercept in this field season, when hole TPDD26 hit 11 metres at 3.4% U308, including 4.6m @ 8% U308.

Managing director Brett Lambert said two diamond drill rigs are on site, 50 kilometres north west of Pine Creek - a discovery that the company holds a 70% stake with an option to acquire the balance from private company Crocodile Gold.

One hole at Thunderball, detailed in the recently released September quarter report, intercepted 15m @ 1.5% U308, including a 1m section at 20.3%.

Mineralisation at Thunderball occurs as disseminated to massive uraninite and, from drilling to date, the target is open down-plunge.

Lambert said that with cash and receivables of more than A$25 million (US$22.6 million) the company was "very well funded" to progress Thunderball and to pursue its other targets in the Pine Creek and Ngalia Basin regions of the Northern Territory.

The company also has farmed-in on the Cleo's uranium project in the Pine Creek region, the most advanced property held by Atom Energy Ltd (ASX: AXY) which is now taking a strong interest in gold leases north of Kalgoorlie and also dormant northern leases on Kalgoorlie's famous Golden Mile.

As major shareholder in Western Australian iron ore explorer United Minerals Corporation, Thundelarra recently realised A$3 million (US$2.71 million) from the sale of some of its holdings - when BHP Billiton decided to make a takeover bid for that company. Thundelarra retained another 18 M shares valued at BHP's offer of $A1.30/share at A$23.4 million (US$21.17 million).

Indirectly Thundelarra became a base metals producer last month when stockpiled nickel-copper ore at its 40% owned Copernicus mine development was processed by partner Panoramic Resources Ltd at its adjacent Savannah nickel-copper mill, and the concentrates were shipped to China.

Copernicus was mothballed last year when commodity prices crashed and it remains on care and maintenance.


Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment. "

[Popeye82]

Exco Resources may soon be in play, says Shaw Stockbroking - Proactive Investors - Nov 4, 2009

- by Andrew McCrea -
www.proactiveinvestors.com.au/companies/news/3125/exco-resou…

[Popeye82]

BP and CNPC sign technical services deal to develop Iraq’s Rumaila oil field - PIC - 2009-11-03

- by Andre Lamberti -
www.proactiveinvestors.com.hk/market_news/1881-bp-and-cnpc-s…

"BP PLC (LSE: BP) and China National Petroleum Corporation (CNPC), announced today that they have signed a technical service contract with Iraq's state-owned South Oil Co (SOC) to expand production from the Rumaila oil field near Basra.

The signing follows BP's successful bid for the contract with CNPC in Baghdad in June.

The consortium, led by BP with 38 percent, with partners CNPC, 37 percent, and the Iraq government's representative State Oil Marketing Organisation, holding 25 percent, has agreed to nearly triple the Rumaila field's output to almost 3 million barrels of oil a day, which would make it the world's second largest producing oilfield.

BP and CNPC plan to invest approximately US$15 billion in cash over the 20 year lifetime of the contract with the intention of increasing plateau production to 2.85 million bpd in the second half of the next decade. Once production has been raised by 10 per cent from its current level of about 1 million bpd, costs will start to be recovered, and fees of US$2 a barrel earned on the incremental oil production.

The Rumaila Field Operating Organisation (ROO) will manage the rehabilitation and expansion project. ROO will be staffed mainly by employees from SOC and will contain a small number of technical experts and managers from BP and CNPC.

BP has already gained information about the Rumaila field through a three year memorandum of understanding to provide technical assistance from 2005 and historically has knowledge of the field's geology dating back to discovery in 1953. "

[Popeye82]

Thomson Reuters finds R&D boom could put China ahead of US within decade - PIC - 2009-11-03

- by Sergei Balashov -
www.proactiveinvestors.com.hk/market_news/1878-thomson-reute…

"It turns out China has not just been the world's leading consumer of raw materials during the economic downturn, but has also outpaced other nations in R&D (research and development) activities during the period, according to a study by Thomson Reuters.

The report titled Global research Report: China, offers a review of the country's research and collaboration potential along with its increasing role in the global scientific development.

The study concluded that should China's scientific output progress at the current pace, it will soon put its on equal footing with its G8 partners, on which it will no longer depend to support its development.

The country's output jumped almost six times from 20,000 research papers in 1998 to 112,000 last year, doubling since 2004 to help China surpass Japan, the UK and Germany in 2006 and put it on track to beat out the United States within the next decade, the only nation it's still trailing. The US itself has in part been behind China's explosive growth as the study found US based writers contributed to 9% of all papers that came out of Chinese institutions from 2004 to 2008. China is currently strengthening ties with regional partners, such as Japan, South Korea, Singapore and Australia.

China's research is concentrated on physical sciences in technology, focusing on materials science, chemistry and physics. According to the report, agricultural sciences and life sciences such as immunology, microbiology and molecular biology and genetics could see rapid growth.

"If China's research growth remains this rapid and substantial, European and North American institutions will want to be part of it... China no longer depends on links to traditional G8 partners to help its knowledge development. When Europe and the USA visit China they can only do so as equal partners," said Jonathan Adams, director of search evaluation at Thomson Reuters. "

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IKCO unveils nanotech car - MN, TEHERAN - Nov 6, 2009
www.mehrnews.com/en/NewsDetail.aspx?NewsID=978033

"TEHRAN, Nov. 6 (MNA) – Iran’s first car equipped with nano technology built by Iran Khodro Industrial Group (IKCO) was showcased at nano festival from November 4 to 8.

Moj news agency quoted Hamidreza Taqavi Deputy Director of Strategy and Planning at IKCO stating that the new Samand Soren is equipped with nano technology, adding that nano composites are used in the dash board, engine parts, filters and lubrications.

He said that this improvement was made with the aim of enhancing domestic production, decreasing dependency on importing raw material, reducing the price of finished products, improving product quality, increasing customer satisfaction, pride and national self-realization in industry.

Taqavi noted that nano technology usage is increasing day by day in the automotive industry, pontig out that 60 percent of designing and production of light and heavy vehicles in the next 10 years will be influenced by nano technology.

Iran Khodro was founded 1962 and has become the largest vehicle manufacturer in the Middle East, Central Asia and North Africa.

In Iran it has an average share of 65 percent of domestic vehicle production.

By 2006 Iran Khodro was producing 550,000 vehicles (for the Iranian year 1384, starting on 21 March 2006). "

[Popeye82]

Nile Perch Market Report - August 2009; Helga Josupeit describes the situation for Nile perch as 'disastrous' in this FAO Globefish Report - TFS - Oct09
www.thefishsite.com/articles/788/nile-perch-market-report-au…

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Biofuels, Biosecurity and Seafood Safety - TFS - Oct09
www.thefishsite.com/articles/781/biofuels-biosecurity-and-se…

"Danette Olsen of Cawthron Institute in New Zealand explains how research there is improving our knowledge of how algae impact food safety issues in shellfish, and how they can be put to good use for biofuel production. Her article is published in New Zealand Aquaculture.

Cawthron Institute has established a specialised team to lead the development and application of new and emerging technologies for environmental monitoring, management of risks to seafood safety and new products from marine and freshwater micro-organisms. The Aquatic Biotechnologies Group will provide technology-based solutions to resource planners, environmental managers, councils and the seafood industry, as well as to start-up businesses looking to develop new high-value products.

Dr Susie Wood working with Cawthron Institute's culture collection of micro-algae

While New Zealand already has a significant reputation in seafood safety, researcher on harmful algae, Dr Lesley Rhodes, sees aquatic biotechnologies as the key to providing industry with the ability to stay at the leading edge.

Dr Rhodes said: "Our role will be to develop accurate, cost-effective tools and technologies to better understand the safety of products and detection of harmful algae. This knowledge will be critical to ensure that New Zealand seafood product continues to meet food safety standards."

Because of stringent international seafood safety standards, Dr Rhodes says industry needs to be sure that any product leaving our shores is not going to be rejected when it arrives at market.

She explained: "We will be looking to provide tools that not only provide the answers faster and cheaper than before, but also techniques that can be used easily in the field to detect whatever may be in the water, long before shellfish have the chance to take them up."

Dr Rhodes is confident that the Aquatic Biotechnologies Group brings together the capabilities to address industry needs. "Together we have the expertise to ensure we can provide answers to questions around water quality, especially those of concern to the shellfish industry in terms of knowing which harmful algal blooms, viruses and bacteria may impact on their product."

Many of the new methods will rely on molecular-based techniques. Such techniques are very powerful because they can identify specific features of molecules at very low concentrations thus being sensitive and specific at the same time. Researcher, Dr Susie Wood, says these techniques will also provide new solutions to help manage environmental problems, resulting in improved environmental management.

Microbial Source Tracking, or MST, is an example; providing a powerful, rapid and accurate tool for councils and industry to identify and trace the origin of unwanted micro-organisms in freshwater or marine systems.

Cawthron is also working with Waikato University to develop a suite of molecular-based techniques to detect and determine toxin production potential of blue-green algae (cyanobacteria) which form blooms in lakes and rivers. Skin rashes and digestive upset in swimmers and fatalities in dogs have been ascribed to such toxins. Rapid and accurate identification of problem alga species can, for example, help councils determine when to issue health warnings while minimising false alarms.

Quantitative PCR analysis

The techniques being developed will also support biosecurity efforts, for instance, by detecting new invasive species in ships' ballast water. This will improve our ability to reduce the risk of new marine incursions and provide early warning of non-native species in our waters.

Algal technologies leader, Dr Mike Packer, says the new technologies will provide ways to generate value from the many micro-organisms in marine and freshwater environments, especially algae.

Along with the potential to explore high value products, nutraceuticals and raw ingredients for many industrial processes, he says another driver will be on commercial opportunities for renewable energies and waste mitigation, including greenhouse gases.

Dr Packer said: "Given that algae are the fastest growing primary producers on the planet, at least an order of magnitude faster than any terrestrial crop, if one is considering any biomass to commodity products process, such as biofuels, it makes sense to consider algae in the mix."

While there are several hurdles to overcome, he believes turning our attention to areas of innovation required for true biofuel production will mean focusing aquatic biotechnologies on higher value products from large-scale algal farms in the near term.

"This will allow us to get our teeth into it in an economically sensible way and apply creative solutions to those problems," Dr Packer said.

The Aquatic Biotechnologies Group will not be limiting its investigations to energy. There are many other potential co-productions, such as nutritional oils, animal feeds, biopolymers, building materials, bioplastics and raw materials for cosmetics. "

[Popeye82]

Chariot Oil &Gas Crunches The Seismic Data On Namibia As It Prepares To Open Data Room In Q1 2010 - OB - Nov 5, 2009

- By Stewart Dalby -
www.oilbarrel.com/nc/news/display_news/article/chariot-oil-g…

"As the graphic on the home page of the Chariot Oil & Gas website makes clear, this AIM-quoted explorer believes its licences offshore Namibia to be a geological partner to the sedimentary riches of the Brazilian margin, separated only by the Atlantic and the evolutionary drift of shifting continental plates. This view was seemingly endorsed in May when Brazilian energy giant and deepwater specialist Petrobras agreed to farm-in to one of Chariot’s southern licences, Block 2714A.

This was a key milestone for Chariot, which only listed on AIM last year, providing credible third-party endorsement of its Namibian acreage. Importantly, the Brazilian powerhouse agreed to the farm-in terms before the AIM firm had completed a 3D seismic shoot over the licence. Petrobras agreed to pay US$16 million to cover past costs in order to earn a 50 per cent interest as well as agreeing to a production bonus worth up to US$118 million in the event of a commercial discovery.

The company was delighted to attract a partner of this calibre, saying: “'Petrobras has a wealth of experience and marked success in deep water exploration - notably in the counterpart margin offshore Brazil where they have announced giant oil discoveries,” the company said: “This agreement also dovetails with their stated strategy of searching in deep and ultra deep water opportunities offshore West Africa where they already have a significant presence in Angola.”

Block 2714A is one of Chariot's eight exploration blocks located offshore Namibia and covers 5,481 sq km in the southern Orange Basin. It also has interests in blocks 1811A&B (the Northern Blocks), 2312A&B and 2412A&B (the Central Blocks) and Block 2714B (which together with Block 2714A comprise the Southern Blocks). Having completed its current work commitments on the blocks, it recently secured licence extensions that run until October 2010 (Blocks 1811A & B and 2714B) and August 2011 (Blocks 2312 A & B, 2412 A & B and 2714A).

Chariot has been busy acquiring seismic over its frontier acreage in order to mature its inventory of prospects and leads. This work load included 900 sq km of 3D over the Northern Blocks with a further 600 sq km of 3D to be acquired before the end of January 2010 plus some 3,000 km of 2D over the Central blocks, with initial results due in January, and another 3,000 sq km of 3D over the Southern blocks, with the processed results due in Q2 2010.

The AIM newcomer now plans to open a data room in Q1 2010 to seek additional farm-in partners to help explore these frontier waters. Chariot reports that there have already been “multiple expressions of interest” to view the newly acquired seismic data over the licence areas and it is hoping that increased industry interest in previously under-explored parts of West Africa following recent successes offshore Ghana and Sierra Leone, will extend to its Namibian acreage. Investors will view the outcome of this farm-out process as a key test of the prospectivity of these waters and the future growth potential of Chariot.

Certainly partners with bigger pockets than Chariot will be required to undertake this kind of deepwater wildcatting. The AIM posted an operating loss of US$1.49m for the six months ended 31 August 2009 and, given the ongoing tightness in the debt and equity markets, these can be tough times for pure exploration outfits. Even so, Chariot isn’t too badly placed: it is debt free and pretty well capitalised, with a cash balance at the end of August of US$19.4 million.

In the meantime, the company is seeking new opportunities to balance out its risk profile. It hopes to secure assets that offer a faster route to first oil and is seeking lower risk, near term production deals elsewhere in Africa. The Petrobras deal has certainly strengthened the company’s position, giving it cash in hand to expand its portfolio. Some progress on this front would also be welcomed by investors as some near-term production would help shore up the balance sheet and add operational credibility. "

[Popeye82]

Magma Metals - Drilling Update - Thunder Bay North - Nov 9, 2009

KEY POINTS

+ Strongly mineralized area outlined in the Bridge Zone, results include:

- BL09-155: 35m @ 5.47g/t Pt+Pd, 0.70% Cu & 0.36% Ni from 140m,
including 19m @ 9.31g/t Pt+Pd, 1.17% Cu & 0.56% Ni.

- BL09-156: 17m @ 8.25g/t Pt+Pd, 0.93% Cu & 0.47% Ni from 155m,
including 13m @ 10.35g/t Pt+Pd, 1.15% Cu & 0.56% Ni.

+ 50,000m infill diamond drilling program in progress in the Bridge Zone and Beaver Lake areas to upgrade Inferred Resources to the Indicated category.

+ Further encouraging results from wide-spaced drilling at Steepledge Lake:

- SL09-33: 27.4m @ 1.84g/t Pt+Pd, 0.36% Cu & 0.18% Ni from 61.6m,
including 10m @ 2.13g/t Pt+Pd, 0.48% Cu & 0.23% Ni.
http://stocknessmonster.com/news-item?S=MMB&E=ASX&N=468339

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Goldsource Announces Initial Border Coal Resource - Nov 09, 2009
www.marketwire.com/press-release/Go.....-VENTURE-GXS-1072811…

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Shaw River Resources - Drilling Commences at Baramine Manganese Project - Nov 9, 2009
www.shawriver.com.au/reports/SRR20091104BaramineDrillingComm…

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Weekly Review - Ocean Equities - Nov 6, 2009
www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August…

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Douglas Lake Signs an Agreement on the Mkuvia Project - Nov 09, 2009
www.marketwire.com/press-release/Douglas-Lake-Minerals-Inc-O…

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Allana Resources Announces Closing of $2.0 Million Strategic Investment - Nov 09, 2009
www.marketwire.com/press-release/Allana-Resources-Inc-TSX-VE…