Vey nice!

very nice..........

Natural gas pipeline explodes in southern Manitoba, sending flames into air

ST. PAUL, MN | January 28, 2014
Saint Paul RiverCentre

Minn. copper mine review to be made public in Nov.

DULUTH, Minn. - A long-awaited revised environmental review of a proposed copper mine in northeastern Minnesota will be released Nov. 24.

The Minnesota Department of Natural Resources announced the date Friday.

The proposed PolyMet mine would be the first copper-nickel mine in northeastern Minnesota. The 1,800-page Supplemental Draft Environmental Impact Statement has been years in the making.

The mining project has been substantially reworked since the original version in 2009 to meet concerns of regulatory agencies.

The U.S. Environmental Protection Agency rejected the original environmental impact statement in 2010 as inadequate.

The new version originally was expected to be made public this summer. But the Duluth News Tribune reports a DNR official says the release is several months behind schedule because "of some really good comments that came in" from other agencies.

http://www.kare11.com/news/article/1036704/14/Minn-copper-mine-review-to-be-made-public-in-Nov

Hello:

You'll find hereafter the web site link to a video & interview of The Wall Street Analyzer with PolyMet Mining CFO Douglas Newby as well as a copy of the transcript:

http://thewallstreetanalyzer.com/polymet-mining-tsxpomnyse-mktplm-cfo-douglas-newby/

PolyMet Mining Corp. is a publicly traded company exclusively focused on developing the NorthMet copper-nickel-precious metals project, through its wholly owned subsidiary, PolyMet Mining. The NorthMet Project is located in the established Mesabi Iron Range mining district in northeastern Minnesota.

Interview Transcripts:

WSA: Good day from Wall Street. This is Juan Costello with the Wall Street Analyst and joining us today is Douglas Newby, the Chief Financial Officer of PolyMet Mining. The company trades on the New York Stock Exchange, their ticker symbol is PLM and on the Toronto Stock Exchange, ticker symbol is POM. Thanks for joining us today, Douglas.

Douglas Newby: Thank you, Juan.

WSA: Great. Now, starting off, give us a brief history and overview of the company for some of our listeners that are new to your story.

Douglas Newby: Absolutely. PolyMet Mining is a Canadian company, but we are focused on developing a very large copper, nickel and platinum group metals project in northeastern Minnesota. We're located very close to the eastern end of the Mesabi Iron Range, which produced most of the iron ore that produced most of the steel that literally built industrial America, so in a very strong mining community, although completely separate from the iron range geologically.

WSA: And can you give us a overview of the NorthMet project and some of the recent results you had there?

Douglas Newby: Sure. There are two aspects to the project. We were able to acquire a large processing facility that was originally built to process iron ore so we will convert to copper and nickel and we have the ore body located about six miles away and connected by an existing railroad. So the challenge for any mine development in the US is completing the environmental review and permitting process and for any large project that takes a lot of time and is an expensive process, we've been working on it for about eight years now. We've had some real progress however in the last 12 months or so. Juan, you reminded me that we did an interview about a year ago. At that point, we had just appointed a new CEO, Jon Cherry, who joined us from Rio Tinto. Jon's background is an environmental engineer. He has made a lot of progress working with the rest of the team and making some changes to the team to make some huge strides forward. So we're expecting the state of Minnesota to publish a new environmental impact statement this summer and then it will go out for public review. The study makes it clear that the project meets state and federal regulatory standards.

WSA: Excellent. And can you talk a little bit about your recent rights offering?

Douglas Newby: Indeed. A couple of weeks ago we closed the $60 million rights offering. This is obviously not a very common way of financing these days in the US, is a little more common in Canada and still fairly well known in Europe. So, basically, we gave all our shareholders the right to buy one new share for every two shares they owned. We have a strategic investor with Glencore out of Switzerland. Glencore took up its rights. Management took up our rights. We had a total of over 80% of the shares, was subscribed directly by the existing holders.
So of the 60 million we raised, 40 million came from non-strategic investors and about 20 million from Glencore, which I think in the current market environment for development stage mining company was a really tremendous demonstration of support by the broad shareholder group. What the $60 million does for us is that it gets us very well financed; complete the permitting process, it also gives us the funds to be able to complete pre-construction engineering and potentially make some down payments on long lead-time equipment if needed so that once we are permitted, which we think will be about this time next year, we'll be able to move very rapidly into the construction phase and we expect to be able to build projects in about 15 months, again, once we're permitted.

WSA: Well, good and what are some of the trends that you're seeing right now in the sector and how are you positioning the company to capitalize on some of the copper, nickel and precious metal trends?

Douglas Newby: As your listeners and readers probably know that the metal market has been under a lot of pressure recently as a combination of concerns about economic slowdown in China and some inventory build, so metal prices have been under a lot of pressure. The industry as a whole is going through a fairly major change. Companies have been focused on developing very large projects, often in difficult parts of the world where massive infrastructure is needed. There have been changes in senior executives of the big mining companies and a lot of regrouping within the industry. I think what we're beginning to see is China maybe bottoms out, if you can call 7% growth bottoming out, so fairly high-class problem to have, but as China stabilizes it will begin to rebuild metal inventories and the rest of the world continues to grow albeit fairly slowly. So, some of the big-picture changes are going on in the industry. Some new projects are getting deferred. Some high-cost old mines are getting shut down, so while the industry has been through a fairly challenging couple of years, we think over the next two to three, five years there will be prospects where metal prices looks pretty good and we are optimistic that PolyMet will be starting up in a couple of years' time into a fairly healthy commodity cycle.

WSA: And what are some of the factors, Douglas, that you feel makes PolyMet unique from some of the other players in your sector?

Douglas Newby: The amount of infrastructure we have in place with the existing plant. The fact that we're in the US. The challenge in the US, as I said earlier is the time getting through the permitting process, but clearly skilled labor, infrastructure, rule of law are all very strong in the US once you get through that process. I think the fact that we're able to look to develop a major asset producing metals to support US industry is going to be pretty significant and as we move forward and get some recognition, the progress we're making with the project and then we can build out the project over the next couple of years.

WSA: Excellent. And you talked a little bit about the background of your CEO, Jon Cherry. Perhaps you could walk us through our background and experience, Douglas, and talk a little bit more about the management team there.

Douglas Newby: Sure. I come from the mine finance sector. I was top-ranked mining analyst in London and then New York and then moved into corporate and project finance in New York. I've spent the last 10 years in corporate management. I was chairman and CEO for a while of a company called Western Goldfields, which subsequently became New Gold, which has become a pretty successful gold producing company. I've been with PolyMet for eight years. The rest of the team, we've got a pretty strong team of environmental engineers, people with lot of experience in environmental permitting, management, operating experience, construction experience, so it's a pretty strong bunch of people.

WSA: And what are some of the goals and milestones that you and the team are hoping to accomplish over the course of the next year?

Douglas Newby: Juan, the main focus is on environmental review and permitting with the draft environmental impact statement this summer and permits in about a year from now. The other key areas will be completing construction finance so that we can build the project rapidly once we have permits and preparing for construction and then operations.

WSA: As far as investors in the financial community are concerned, Douglas, do you believe that the PolyMet story and your message as well as the company's upside are completely understood and appreciated by them and if not, what do you wish investors better understood about the company or your sector?

Douglas Newby: I think the biggest misunderstanding is where we are on the permitting side, frankly because we and others have had some setbacks in the past, there is a great deal of skepticism about the ability to get new mines permitted in the US. I think what we're seeing is that if you do it properly, if you work with regulatory agencies and try to solve problems as opposed to fighting them, you can make progress and succeed. So, I think if we are able to demonstrate the support and agreement on the permitting side then the investment community will begin to realize that mining is still possible in US and we've got a great opportunity to both establish best practice for environmental purposes and create jobs and create good return for our investors.

WSA: Excellent and once again joining us today is Douglas Newby, the Chief Financial Officer of PolyMet Mining. The company trades on the Toronto Stock Exchange, ticker symbol is POM and on the New York Stock Exchange, ticker symbol PLM. Currently trading at 80 cents a share, market cap is now close to 200 million and before we conclude here, Doug, to briefly recap some of your key points. Why do you believe investors should consider the company as a good investment opportunity today?

Douglas Newby: Thanks. The key points are that we're working through the completion of the environmental review and permitting process, expecting some significant good news over the next 12 months. The company is well financed for the next stage of the project. We've got a very strong management team and I think we may be somewhere near the bottom of the commodity cycle at this point. So, hopefully, we'll be making project progress in a good overall market environment.

WSA: Well, we look forward to continue to track the company's growth and report on your upcoming progress and we'd like to thank you for taking the time to join us today, Douglas, and update our investor audience on PolyMet Mining. It's always good to have you on.

Douglas Newby: Thank you, Juan. It was a pleasure. Thank you.


MZ Group
61 Broadway, Suite 3035 New York, NY 1006

PBS Frontline Nails It On How Wall Street Screws Main Street
Read more: http://www.businessinsider.com/the-retirement-gamble-pbs-frontline-exposes-how-wall-street-screws-main-street-2013-5#ixzz2SRce47wC
The show
http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/

Buy window 7 and format HD and load with 7

Thank Z for the update.Us "The Cities" folks like to
know what is going on the da range.

Romo signed big time. Turkey to go with that ham on Easter

A lot of great tips in this book

http://www.amazon.com/Lower-Your-Taxes-Time-2013-2014/dp/0071803408/ref=sr_1_1?ie=UTF8&qid=1364344781&sr=8-1&keywords=lower+your+taxes+big+time

Thanks for the post,I just turned the game on and saw both!

China, primed by government spending to boost growth, will need enough copper every month to circle the globe more than 100 times.

The nation required 4.2 million kilometers (2.6 million miles) of copper cables in December, the most in nine months, to satisfy demand for electric grids, housing, autos and exports. That’s enough to go around the 40,075-kilometer equator about 105 times. Manufacturing and exports are growing at the fastest pace in two years, while cars are selling like never before in China, the world’s most-populated country and responsible for about 40 percent of world copper consumption.

Copper use in China will jump 8 percent to a record 8.833 million metric tons this year, boosting global demand and creating a 6,000-ton product deficit versus a surplus of 216,000 tons in 2012, according to Goldman Sachs Group Inc. Prices in London probably will climb 15 percent to $9,000 a ton in six months, more than double the advance for all of last year, New York-based Goldman said in a Feb. 19 report.

“Copper is the preferred way to play China growth, and it should be very strong,” said John Stephenson, who helps manage C$2.7 billion ($2.7 billion) at First Asset Investment Management Inc. in Toronto. “The commodities that will do well are the ones that China doesn’t have a hammerlock on in terms of their ability to produce, and copper certainly would be that.”

Price Rally
Prices have slipped 1.2 percent on the London Metal Exchange this year after a 4.4 percent rally in 2012. The Standard & Poor’s GSCI Spot Index of 24 raw materials has advanced 1.9 percent in 2013, and the MSCI All-Country World Index of equities added 3.4 percent. Treasuries lost 0.8 percent, a Bank of America Corp. index shows.

China’s growth in the three months ending in June will accelerate to 8.25 percent, the fastest pace since 2011, after government stimulus measures helped pull the world’s second- largest economy out of a seven-quarter slowdown at the end of last year, according to a Bloomberg survey of economists. China is the biggest user of copper.

Manufacturing in China has expanded for four straight months, a Feb. 1 government report showed. January exports gained the most since April 2011, and passenger-vehicle sales surged 49 percent to a monthly record, data released Feb. 7 and 8 showed.

China Imports
The country needs to import copper because domestic production of 6.541 million tons will fall short of demand by 2.168 million tons, Barclays Plc said in a Feb. 15 report.

More than 21 million Chinese -- almost the population of Australia -- left their rural homes for jobs in cities in 2012, according to China’s National Bureau of Statistics. The migration creates greater demand for housing, new appliances, cars and electricity transmission lines, all requiring copper.

Vehicle sales in China, including trucks and buses, will probably accelerate this year and surpass 20 million for the first time on a rebound in economic growth and urbanization, according to estimates by the China Association of Automobile Manufacturers. The transportation industry accounts for about 11 percent of the country’s copper use, according to data from Bloomberg Industries.

China will rebuild 3 million homes for rural residents in 2013, the official Xinhua News Agency reported Feb. 10, citing the Ministry of Housing and Urban-Rural Development. New-home prices rose in December in the most Chinese cities in 20 months, according to a government report on Jan. 18.

‘Electric Grid’
“China is planning on urbanizing 100 million people over the coming decade, and the No. 1 usage for copper in China is the electric grid,” John Goldsmith, who help manage C$5.2 billion at Montrusco Bolton Investments Inc. in Toronto, said in a telephone interview. “That’s a boatload of copper they’re going to need.”

Accelerating inflation may prompt the government to reign in growth. The People’s Bank of China drained a record 910 billion yuan ($146 billion) from the financial system last week. The government told local authorities on Feb. 21 to “decisively” curb real-estate speculation and take steps to cool the property market after January prices rose the most in two years. Builders account for about 9.4 percent of Chinese copper demand, compared with 50 percent in the U.S., where about 400 pounds of the metal is used in the average home.

Stockpiles of the metal monitored by the Shanghai Futures Exchange have climbed 49 percent since the end of June, data from the exchange show.

Oyu Tolgoi
A 3.4 percent surge in copper output may overwhelm demand and keep prices in check, according to Barclays. Mines scheduled to open this year include Codelco’s Ministro Hales near Calama, Chile, and Rio Tinto Group’s (RIO) Oyu Tolgoi Mongolia’s South Gobi Desert. Production will jump the most since 2004 this year, creating a surplus of 56,000 tons, Barclays estimates. The London-based bank forecast prices will decline 0.3 percent on average in 2013, according to the Feb. 15 report.

Chile, the world’s biggest copper-producing nation, said Jan. 28 that domestic output will probably reach a record this year.

“I’m not convinced we’ll see a bull market in copper any time soon,” Jack Ablin, who helps oversee about $66 billion of assets as chief investment officer of BMO Private Bank in Chicago, said in a telephone interview. With the increase in China demand, “it’s a favorable environment, but the rising supplies are going to get in the way of that.”

Copper consumption is also poised to rise in the U.S., the world’s second-biggest user, and the outlook for U.S. housing will be an “important contributor” to demand growth, Goldman said in a Feb. 19 report.

U.S. Housing
Builders broke ground in January on the most U.S. single- family homes in more than four years, Commerce Department data showed Feb. 20. The U.S. will account for 9.7 percent of demand this year, while China will use 44 percent, according to Goldman.

The world’s mining companies have fallen short of forecasts by an average of 6.5 percent annually since 2006, data from the Lisbon-based International Copper Study Group show. Companies from Melbourne-based BHP Billiton Ltd. (BHP) to Phoenix-based Freeport-McMoran Copper & Gold Inc. (FCX) have contended with labor stoppages and aging mines. Refiners must process about 15 percent more ore than in 2000 to extract the same amount of metal because of declining grades, according to Macquarie Group Ltd.

Morgan Outlook
Rio Tinto, the world’s s largest mining company, said Feb. 14 its $6.6 billion Oyu Tolgoi copper mine won’t start until disagreements with the government are resolved. London-based Rio has twice rejected Mongolia’s demands in the past 18 months for a greater share of profits from the mine.

The outlook for new supply will have a “muted” effect on the market in the medium-term, in part because of the risk of project delays, Morgan Stanley said in a Jan. 24 note. The bank estimated prices will rise to $8,554 this year from $7,952 in 2012.

“The Chinese will continue to urbanize as they want to bring more of their population to the middle-class platform, and that means more infrastructure, and that in turn means more copper demand,” said Quincy Krosby, a market strategist for Newark, New Jersey-based Prudential Financial Inc., which oversees more than $1 trillion of assets. “The economic data in the U.S suggests that the economy continues to grow, and particularly in the housing market, and that is positive.”

http://www.bloomberg.com/news/2013-02-26/copper-winding-earth-105-times-shows-deficit-commodities.html

China, primed by government spending to boost growth, will need enough copper every month to circle the globe more than 100 times.

The nation required 4.2 million kilometers (2.6 million miles) of copper cables in December, the most in nine months, to satisfy demand for electric grids, housing, autos and exports. That’s enough to go around the 40,075-kilometer equator about 105 times. Manufacturing and exports are growing at the fastest pace in two years, while cars are selling like never before in China, the world’s most-populated country and responsible for about 40 percent of world copper consumption.

Copper use in China will jump 8 percent to a record 8.833 million metric tons this year, boosting global demand and creating a 6,000-ton product deficit versus a surplus of 216,000 tons in 2012, according to Goldman Sachs Group Inc. Prices in London probably will climb 15 percent to $9,000 a ton in six months, more than double the advance for all of last year, New York-based Goldman said in a Feb. 19 report.

“Copper is the preferred way to play China growth, and it should be very strong,” said John Stephenson, who helps manage C$2.7 billion ($2.7 billion) at First Asset Investment Management Inc. in Toronto. “The commodities that will do well are the ones that China doesn’t have a hammerlock on in terms of their ability to produce, and copper certainly would be that.”

Price Rally
Prices have slipped 1.2 percent on the London Metal Exchange this year after a 4.4 percent rally in 2012. The Standard & Poor’s GSCI Spot Index of 24 raw materials has advanced 1.9 percent in 2013, and the MSCI All-Country World Index of equities added 3.4 percent. Treasuries lost 0.8 percent, a Bank of America Corp. index shows.

China’s growth in the three months ending in June will accelerate to 8.25 percent, the fastest pace since 2011, after government stimulus measures helped pull the world’s second- largest economy out of a seven-quarter slowdown at the end of last year, according to a Bloomberg survey of economists. China is the biggest user of copper.

Manufacturing in China has expanded for four straight months, a Feb. 1 government report showed. January exports gained the most since April 2011, and passenger-vehicle sales surged 49 percent to a monthly record, data released Feb. 7 and 8 showed.

China Imports
The country needs to import copper because domestic production of 6.541 million tons will fall short of demand by 2.168 million tons, Barclays Plc said in a Feb. 15 report.

More than 21 million Chinese -- almost the population of Australia -- left their rural homes for jobs in cities in 2012, according to China’s National Bureau of Statistics. The migration creates greater demand for housing, new appliances, cars and electricity transmission lines, all requiring copper.

Vehicle sales in China, including trucks and buses, will probably accelerate this year and surpass 20 million for the first time on a rebound in economic growth and urbanization, according to estimates by the China Association of Automobile Manufacturers. The transportation industry accounts for about 11 percent of the country’s copper use, according to data from Bloomberg Industries.

China will rebuild 3 million homes for rural residents in 2013, the official Xinhua News Agency reported Feb. 10, citing the Ministry of Housing and Urban-Rural Development. New-home prices rose in December in the most Chinese cities in 20 months, according to a government report on Jan. 18.

‘Electric Grid’
“China is planning on urbanizing 100 million people over the coming decade, and the No. 1 usage for copper in China is the electric grid,” John Goldsmith, who help manage C$5.2 billion at Montrusco Bolton Investments Inc. in Toronto, said in a telephone interview. “That’s a boatload of copper they’re going to need.”

Accelerating inflation may prompt the government to reign in growth. The People’s Bank of China drained a record 910 billion yuan ($146 billion) from the financial system last week. The government told local authorities on Feb. 21 to “decisively” curb real-estate speculation and take steps to cool the property market after January prices rose the most in two years. Builders account for about 9.4 percent of Chinese copper demand, compared with 50 percent in the U.S., where about 400 pounds of the metal is used in the average home.

Stockpiles of the metal monitored by the Shanghai Futures Exchange have climbed 49 percent since the end of June, data from the exchange show.

Oyu Tolgoi
A 3.4 percent surge in copper output may overwhelm demand and keep prices in check, according to Barclays. Mines scheduled to open this year include Codelco’s Ministro Hales near Calama, Chile, and Rio Tinto Group’s (RIO) Oyu Tolgoi Mongolia’s South Gobi Desert. Production will jump the most since 2004 this year, creating a surplus of 56,000 tons, Barclays estimates. The London-based bank forecast prices will decline 0.3 percent on average in 2013, according to the Feb. 15 report.

Chile, the world’s biggest copper-producing nation, said Jan. 28 that domestic output will probably reach a record this year.

“I’m not convinced we’ll see a bull market in copper any time soon,” Jack Ablin, who helps oversee about $66 billion of assets as chief investment officer of BMO Private Bank in Chicago, said in a telephone interview. With the increase in China demand, “it’s a favorable environment, but the rising supplies are going to get in the way of that.”

Copper consumption is also poised to rise in the U.S., the world’s second-biggest user, and the outlook for U.S. housing will be an “important contributor” to demand growth, Goldman said in a Feb. 19 report.

U.S. Housing
Builders broke ground in January on the most U.S. single- family homes in more than four years, Commerce Department data showed Feb. 20. The U.S. will account for 9.7 percent of demand this year, while China will use 44 percent, according to Goldman.

The world’s mining companies have fallen short of forecasts by an average of 6.5 percent annually since 2006, data from the Lisbon-based International Copper Study Group show. Companies from Melbourne-based BHP Billiton Ltd. (BHP) to Phoenix-based Freeport-McMoran Copper & Gold Inc. (FCX) have contended with labor stoppages and aging mines. Refiners must process about 15 percent more ore than in 2000 to extract the same amount of metal because of declining grades, according to Macquarie Group Ltd.

Morgan Outlook
Rio Tinto, the world’s s largest mining company, said Feb. 14 its $6.6 billion Oyu Tolgoi copper mine won’t start until disagreements with the government are resolved. London-based Rio has twice rejected Mongolia’s demands in the past 18 months for a greater share of profits from the mine.

The outlook for new supply will have a “muted” effect on the market in the medium-term, in part because of the risk of project delays, Morgan Stanley said in a Jan. 24 note. The bank estimated prices will rise to $8,554 this year from $7,952 in 2012.

“The Chinese will continue to urbanize as they want to bring more of their population to the middle-class platform, and that means more infrastructure, and that in turn means more copper demand,” said Quincy Krosby, a market strategist for Newark, New Jersey-based Prudential Financial Inc., which oversees more than $1 trillion of assets. “The economic data in the U.S suggests that the economy continues to grow, and particularly in the housing market, and that is positive.”

http://www.bloomberg.com/news/2013-02-26/copper-winding-earth-105-times-shows-deficit-commodities.html

So Sorry............
Cowboys believe Tony Romo is the QB of the present, future

http://cowboysblog.dallasnews.com/2013/02/cowboys-believe-tony-romo-is-the-qb-of-the-present-future.html/

Thanks for the good laugh

so sorry to hear that

US Steel's subtle message on its frustrations with regulators
Posted by: Lee Schafer Updated: February 1, 2013 - 2:41 PM

The theme of John Surma’s speech this week to the Economic Club of Minnesota was that the company he serves as CEO, US Steel Corp., has operated taconite mines a long time in the state and remains a major contributor to the economic vitality of northeastern Minnesota
.
It was a hardly controversial message, delivered by a genial CEO to a friendly audience.

There was an agenda, of course, if you listened for it. It turns out US Steel is frustrated with regulators.

“There just seems to be a lot more people involved,” Surma said after the speech, when asked about what’s changed in how his industry is regulated in Minnesota. “There seems to be a lot more discussion, and a lot more people who seem to want to be in a position to say no.”

There is a “lack of clarity” in the process as a result.

What also changed for US Steel is the presence of companies like PolyMet Mining Corp., which is seeking permits to begin production of copper, nickel and precious metals at its mine and processing facility at the eastern end the Mesabi Iron Range.

Behind PolyMet are other copper-nickel mining projects not as far along.

Mining for taconite is hardly a clean industry, but it’s had nothing close to the kind of problems that have cropped up with copper and nickel mining in other parts of the world. PolyMet has been grinding away on its permitting process for years.

Has greater environmental review of mining as a result of copper and nickel projects changed the dynamic for US Steel? Surma responded that copper and nickel mining was a different business and he wished those firms well.

US Steel, no matter how aggravated it becomes, obviously can’t move its mines. Short of a dramatic - and unlikely - contraction in North American steel demand, Surma said, there is not much that would cause US Steel to significantly reduce its level of investment in the state. About a quarter of the company’s $800 million capital budget this year will go to Minnesota.

On the other hand, there are choices that will come up someday, on where to build plants with newer technology or otherwise invest the company’s capital.

US Steel's subtle message on its frustrations with regulators
Posted by: Lee Schafer Updated: February 1, 2013 - 2:41 PM

The theme of John Surma’s speech this week to the Economic Club of Minnesota was that the company he serves as CEO, US Steel Corp., has operated taconite mines a long time in the state and remains a major contributor to the economic vitality of northeastern Minnesota
.
It was a hardly controversial message, delivered by a genial CEO to a friendly audience.

There was an agenda, of course, if you listened for it. It turns out US Steel is frustrated with regulators.

“There just seems to be a lot more people involved,” Surma said after the speech, when asked about what’s changed in how his industry is regulated in Minnesota. “There seems to be a lot more discussion, and a lot more people who seem to want to be in a position to say no.”

There is a “lack of clarity” in the process as a result.

What also changed for US Steel is the presence of companies like PolyMet Mining Corp., which is seeking permits to begin production of copper, nickel and precious metals at its mine and processing facility at the eastern end the Mesabi Iron Range.

Behind PolyMet are other copper-nickel mining projects not as far along.

Mining for taconite is hardly a clean industry, but it’s had nothing close to the kind of problems that have cropped up with copper and nickel mining in other parts of the world. PolyMet has been grinding away on its permitting process for years.

Has greater environmental review of mining as a result of copper and nickel projects changed the dynamic for US Steel? Surma responded that copper and nickel mining was a different business and he wished those firms well.

US Steel, no matter how aggravated it becomes, obviously can’t move its mines. Short of a dramatic - and unlikely - contraction in North American steel demand, Surma said, there is not much that would cause US Steel to significantly reduce its level of investment in the state. About a quarter of the company’s $800 million capital budget this year will go to Minnesota.

On the other hand, there are choices that will come up someday, on where to build plants with newer technology or otherwise invest the company’s capital.

Hope the EIS is soon.The company has been quite too?

Like this part best from the Bloomberg News...

"Northeastern Minnesota has one of the world's largest deposits of untapped copper, nickel, platinum, palladium, cobalt and gold."

More volume these days

Price and volume has picked up also

Traders don't see fool's gold as they invest more in copper
Article by: NICHOLAS LARKIN , Bloomberg News Updated: February 2, 2013

Copper traders are the most bullish in 15 months on mounting confidence that the U.S. economy will rebound at a time when China's recovery is gaining momentum.

Copper climbed to a three-month high Friday after data showed faster economic growth and higher profits for industrial companies in China, the biggest user of the metal.

Global equities rallied to an almost 21-month high last week after China's expansion accelerated for the first time in two years and an index of U.S. leading indicators rose the most in three months.

"The U.S. will show at least moderate growth going forward this year, and U.S. stimulus should lead to higher commodity prices," said Daniel Briesemann, a commodities analyst at Commerzbank AG in Frankfurt. "China's economy is definitely gaining momentum and ... will be the main driver."

Northeastern Minnesota has one of the world's largest deposits of untapped copper, nickel, platinum, palladium, cobalt and gold.

The potential for copper clearly has gotten the attention of traders. The metal jumped as much as 11 percent from a two-month low set Nov. 9, reaching $8,318 as of Friday. Since December 2008, when the Federal Reserve expanded asset purchases, copper has more than doubled in price.

North America consumes roughly 11 percent of the world's copper and China 42 percent.

But there are signs that copper consumption is slowing. China's refined-copper imports slid 41 percent last year, according to customs data. Copper inventories in warehouses monitored by the LME, the largest metals bourse, are at the highest in 13 months after jumping 78 percent from an almost four-year low set Oct. 16, exchange data show. The stock buildup points to "weak physical demand," said Robin Bhar, an analyst at Societe Generale SA in London.

Traders don't see fool's gold as they invest more in copper
Article by: NICHOLAS LARKIN , Bloomberg News Updated: February 2, 2013

Copper traders are the most bullish in 15 months on mounting confidence that the U.S. economy will rebound at a time when China's recovery is gaining momentum.

Copper climbed to a three-month high Friday after data showed faster economic growth and higher profits for industrial companies in China, the biggest user of the metal.

Global equities rallied to an almost 21-month high last week after China's expansion accelerated for the first time in two years and an index of U.S. leading indicators rose the most in three months.

"The U.S. will show at least moderate growth going forward this year, and U.S. stimulus should lead to higher commodity prices," said Daniel Briesemann, a commodities analyst at Commerzbank AG in Frankfurt. "China's economy is definitely gaining momentum and ... will be the main driver."

Northeastern Minnesota has one of the world's largest deposits of untapped copper, nickel, platinum, palladium, cobalt and gold.

The potential for copper clearly has gotten the attention of traders. The metal jumped as much as 11 percent from a two-month low set Nov. 9, reaching $8,318 as of Friday. Since December 2008, when the Federal Reserve expanded asset purchases, copper has more than doubled in price.

North America consumes roughly 11 percent of the world's copper and China 42 percent.

But there are signs that copper consumption is slowing. China's refined-copper imports slid 41 percent last year, according to customs data. Copper inventories in warehouses monitored by the LME, the largest metals bourse, are at the highest in 13 months after jumping 78 percent from an almost four-year low set Oct. 16, exchange data show. The stock buildup points to "weak physical demand," said Robin Bhar, an analyst at Societe Generale SA in London.

IT'S ALIVE...................

Health insurance from Wal-Mart?
By Jay MacDonald · Bankrate.com
Friday, January 25, 2013

In news that lends an exciting new dimension to the phrase "clean up on aisle five," Wal-Mart, the world's largest retailer, reportedly has big plans to expand into one of America's top growth markets: health care and health insurance.

It's not such a stretch. As the Orlando Business Journal observed, Wal-Mart is already the fourth largest pharmacy in the nation, routinely administers on-site vaccinations and even sells health insurance through its big-box Sam's Club chain. In fact, health and wellness products and services accounted for 11 percent of Wal-Mart's sales and 5 percent of Sam's Club business in 2011, according to the company's annual report.

But now, apparently inspired by the state health exchanges scheduled to open in 2014 under health care reform, Wal-Mart has set its sights on establishing its own branded health insurance exchange aimed at small businesses looking for a big hand with their health care plans.

Private health exchanges are popping up with some frequency these days. Recently, the consulting firm Aon Hewitt announced plans to set up a health insurance exchange for employees at Sears and at Darden Restaurants, which owns Olive Garden and Red Lobster. A competing consulting firm, Mercer, also is building a health insurance exchange for employers.

One advantage a Wal-Mart health exchange would have over the new federal-state exchanges is traffic -- lots and lots of traffic. But the government health exchanges will offer something that Walmart cannot: a small-business tax credit to qualifying employers.

Nor does the retail giant plan to ignore the profits possible from in-store clinics. While Wal-Mart lags well behind corner-pharmacy brands CVS and Walgreens with just 150 clinics nationally, Kaiser Health News reported that the company planned a huge expansion of its clinics more than a year ago. The Orlando Business Journal reports that Wal-Mart plans to offer full primary care services at its clinics in the next five to seven years. Wal-Mart has denied both reports.

Then again, the retail giant plays things pretty close to the vest these days after its ambitious plans to expand its MoneyCenters into a full-blown banking enterprise ran afoul of federal regulators a few years back.

One thing is certain: With U.S. health care spending at a staggering $2.7 trillion annually, or nearly 18 percent of the U.S. economy, Wal-Mart won't be the last major company to explore ways to affix its brand to American health care.

http://www.bankrate.com/financing/insurance/health-insurance-from-walmart/?ec_id=cmct_comm_finhp

Nite.......

Brother vs Brother!

thats the one

http://www.canberratimes.com.au/opinion/editorial/a-real-risk-in-south-china-sea-20130120-2d14p.html

That might just be the pass that lost the game?

How was the pizzzzzzzzaaaaaaa?

Oil under the sea

REPORT: 3 Chinese Ships Enter Japanese Waters Near Disputed Islands — Nikkei Turns Sharply Negative
http://www.businessinsider.com/report-3-chinese-ships-enter-japanese-waters-near-disputed-islands-2013-1

BA short?

Another Dreamliner emergency landing. This one in Japan. http://www.reuters.com/article/2013/01/16/boeing-ana-idUST9N09U05C20130116

WSJ: Demand For The iPhone Is Weak And Apple's Cutting Orders

Read more: http://www.businessinsider.com/wsj-demand-for-the-iphone-is-weak-2013-1#ixzz2HusYGPVs

WSJ: Demand For The iPhone Is Weak And Apple's Cutting Orders

Read more: http://www.businessinsider.com/wsj-demand-for-the-iphone-is-weak-2013-1#ixzz2HusYGPVs

WSJ: Demand For The iPhone Is Weak And Apple's Cutting Orders

Read more: http://www.businessinsider.com/wsj-demand-for-the-iphone-is-weak-2013-1#ixzz2HusYGPVs