Diamond industry still banks on Modi for rescue package
Class people under Gujarat CM Narendra at a forum of the international diamond industry in Surat has left diamantaries surprised in the circumstances.
Industry, which has demanded sops from the state government in the form of electricity tariffs and cut aid package for the diamond workers, have been asked by the CM uncertain terms not to formulate its own bailout package for workers. “It was more disappointment than a surprise,” said one industry player that has been present at the inaugural function of ’shimmer’ in which the face-off occurred.
Some one-third of workers who have left the global economic crisis caused the fall trigger the demand for fine diamonds in the United States.
diamond industry in the U.S. fell from 60% to 25%. This caused a number of diamond units to the bottom of their Shutters. “I do not know why this happened. But the industry is facing big problems such as that you can not do anything other than ask for assistance from the government,” Gems and Jewelry Export Promotion Council Vasant Mehta to head ET.
Mr. Mehta’s emotional speech beseeching the state government and more directly to the CM to come to the rescue of the industry in the state in the international gems and jewelry conference inauguration ceremony on Friday has been rejected directly by the content of Mr Modi. “We also have been pursuing this with the central government for more than one and a half months. We have specifically requested the state government on workers’ bailout package because it falls in the ambit and necessary,” he added.
Mr Mehta further said the industry still hopes that the state government will help them exit from the crisis now.
On Friday the handling of diamond players in Soweto, Mr Modi has refrained from announcing any bribe to the industry. He said the best he can talk to the central and lend necessary support to the diamond workers have been laid off by the industry. “As Mr. Modi said in his speech, industry and government need to sit together to create a solution. We still believe that the government will create something for the industry,” said Chandrakant Sanghvi is the regional convenor of the GJEPC.
Industry, however, has expressed hopes the country from the government to reconsider the decision and make some bailout package. “We have been approached by the central government package to help us out. We also have placed our country with a request that asks the government to cut electricity tariffs. The Government of the country may not agree to it, but consider that the industry has contributed to the country’s economy, the government needs to find several ways to help in the crisis, “said President of the Association of Diamond CP Vanani.
Diamond industry in Gujarat to request a special package Rs.20
Guajarat diamond industry and workers Monday demanded a special package worth Rs.20 billion to help the industry slowing global economy.
Factory owners of the Diamond ‘Association (DFOA) of Banaskantha district and the unemployed workers in Palanpur, Banaskantha district, jointly organized a protest rally here to press for various demands, including free education for their children, special loan for the diamond factory, the monthly unemployment benefits Rs.2500.
The workers also ask for assistance in the bank rate.
DFOA president Amrut Phosi said: ‘Palanpur own approximately 80 percent of the total world diamond trade. ”
Following the global slowdown, and difficult competition from countries such as Sri Lanka, China and Indonesia, have become difficult for the Indian diamond industry.
‘Severe competition has made it difficult to maintain quality and cost’
UPINOR Diamond Drilling Program Results
SIRIOS RESOURCES INC. announced income in the summer of 2008, the company is conducting drilling diamond drilling program on UPINOR uranium properties in James Bay, Quebec. Eight hundred and ninety-three (893) core sample from the cumulative length of 897 meters assayed grade uranium up to 200 ppm (0025% uranium oxide) near the four meters.
Twelve-hole drilling a total of 1,369 meters of NQ core and has finished on 3-km length of the strike zone A1. Extensive radiometric anomaly characterizes this zone, and various classes U3O8 in stone at the surface from 0.05% to 0.8% and more, that more than 2% oxide (Ref.: 10/08/08, 09 / 18/08 and 06/05/08 press release). Initial drilling program report dated 23 December, only accepted by SIRIOS, did not confirm the continuity in depth a significant uranium from the surface zone A1. This may be caused by the distribution of imported Uraninite minerals, is easy to use on the surface, spectrometers, but it is difficult to cut through the drill hole. However, there is no or almost no shallow enrichment, which can have at least explain the high surface occurs.
One half-meter core samples were collected and compiled by IOS Services Geoscientifiques Inc. of Saguenay, Quebec. They were assayed in Saskatchewan Research Council laboratories with the digestion (i). Industry-standard quality that is applied, including blank, and double standards in the sample series. In addition, almost one hundred different samples from the same drill hole that returned uranium grade higher than that published the analysis of total digestion (ii) for the proposed re-assaying in the second laboratory to check twice.
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Myanmar signs gas deal with China
Myanmar’s government and four foreign companies have signed an agreement to sell natural gas from offshore fields to neighboring China, state media said Monday.
The agreement, signed last Wednesday, was the first for sales of gas from Myanmar’s northwestern offshore fields.
The New Light of Myanmar newspaper said South Korea’s Daewoo International and Korea Gas Corporation and two Indian companies — ONGC Videsh Ltd. and GAIL Ltd. — were part of a consortium with the Myanmar government that finalized the deal with the China National United Oil Corporation.
The consortium is led by Daewoo, with a stake of 51 percent.
The report did not mention the value of the deal, when pipeline construction would begin or when the gas flow will start.
Myanmar has exported natural gas from two major offshore fields in the Gulf of Martaban to Thailand since 1998.
The oil and gas sector dominates Myanmar’s foreign investment.
China to increase oil/gas imports, build up reserves amid weak prices
China will take advantage of sliding oil prices to increase imports and build up its strategic reserves, a senior economic planner said.
Zhang Guobao, vice chairman of the National Development and Reform Commission, said in a report carried by the People’s Daily that China will also move forward with phase two of building strategic reserve facilities.
Article Controls. The state planner has finished the draft for Phase II of building the reserves, involving total storage capacity of 26.8 mln cubic meters.
China also encourages companies to use spare storage capacity to increase their stockpiles, Zhang said, adding that overseas investment and exploration conditions are turning favorable.
Crude oil prices fell below 40 usd per barrel recently from the peak in July of 147 usd, making stockpiling cost-effective.
State media reported that around 7.3 mln barrels of oil had been delivered to the Huangdao facility, the third strategic reserve, in November, with more stockpiling planned in December and January.
The first two bases, at Zhenhai and Zhoushan, were filled more than a year ago. Construction of the Dalian facility, the fourth reserve, is due to be completed by year’s end.
