DGAP-News: North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High
(firmenpresse) - DGAP-News: North Thunder Bay Mining Co. Ltd. / Key word(s):
Miscellaneous
North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High
25.02.2011 / 14:00
---------------------------------------------------------------------
North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High
Toronto, Canada - (For immediate release) - February 25, 2011
North Thunder Bay Mining Co. Deutsche Börse symbol: 84N
(www.norththunderbay.com), is expecting to see continued upward pressure on
the cost of Copper. Management is optimistic regarding the potential
success of its Lubo-Boneng copper mine prospect.
Copper was trading at historical lows of USD $0.70 per pound in the 1990s,
but has skyrocketed in recent years and is trading well above USD $4.00.
On a tonnage basis, we are looking at a price of USD $10,000 per tonne.
Once again, China is a major part of the rise in price, as their economy
continues to expand. India is another major market that is growing.
With key uses of the product in electronic/electrical and construction, the
base metal is tied strongly to economic performance on a global basis.
After taking a major hit in price in 2009, the price of copper has
rebounded strongly and now trades at approximately $4.50 per pound.
Despite weak economies in the western world, China and other emerging
economies are driving demand, and have been more than picking up the slack
from the developed world. Simply put, China is an enormous market that is
growing at breakneck speed.
The continued urbanization of the population is driving demand for
construction related materials. In the past 30 years, the population shift
to cities has been unprecedented. The number of people living in cities
has more than doubled to reach 45% of the total population. To put that
into perspective, China has about 170 cities with a population over one
million people. All of Europe has roughly 35.
As for the longer term, analysts suggest that an additional 300 to 400
million more people will move the larger cities over the next coming 20
years. That more than the total population of the U.S.
It must also be remembered that copper is not easily replaced by a less
expensive metal. As an example, aluminum electrical wiring (popular in the
1960s) carries a significant risk of fire, and is no longer used in new
home construction. Similarly, because of its high level of conductivity,
there are no other base metals regarded as an obvious substitute in
electronic devices.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of North Thunder Bay Mining Co.'s plans, goals and expectations
regarding its future financial condition, performance, results, strategy
and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans',
'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will'
and variations of these words or similar expressions are intended to
identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or
other characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. Forward-looking
statements in this press release are not promises or guarantees of future
performance and are subject to risks and uncertainties that could cause
North Thunder Bay Mining Co.'s actual results to differ materially from
those anticipated. North Thunder Bay Mining Co. cautions the reader not to
place undue reliance upon any such forward-looking statements. These
forward-looking statements involve known and unknown risks as well as
uncertainties, including those discussed herein as well as the following:
(i) domestic and global economic and business conditions; (ii) market
related risks and the performance of financial markets generally; (iii) the
policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future
acquisitions or combinations within relevant industries; and (vi) changes
in capital, solvency or accounting standards as well as tax and other
relevant legislation or regulations in the jurisdictions in which North
Thunder Bay Mining Co. operates. The actual results that North Thunder Bay
Mining Co. achieves may differ materially from any forward-looking
statements which are based on management's beliefs and opinions at the time
the statements are made. North Thunder Bay Mining Co. does not undertake
any obligation to update forward-looking statements should circumstances or
management's beliefs or opinions change.
For further information please contact:
North Thunder Bay Mining Co.
Hudson Bay Center
2 Bloor Street East
Suite 3500
Toronto ON
M4W 1A8
Email: info(at)norththunderbay.com
End of Corporate News
---------------------------------------------------------------------
25.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
113527 25.02.2011
Datum: 25.02.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 33306
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 173 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High"
steht unter der journalistisch-redaktionellen Verantwortung von
North Thunder Bay Mining Co. Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
