kores and vlakplaats.....better than you think

The news is out and Korea wants us.

http://joongangdaily.joins.com/article/view.asp?aid=2929013
KOREA JOONGANG DAILY
(International Herald Tribune)

Kores buys Africa coal mine stake

Deal will help diversify supply, investment of Korea?s coal
November 30, 2010

?The recent deal, which allows the country to expand into South Africa, is significant in that it will allow Korea to stabilize its supply and demand.?

According to Kores, Korea imported around 96 million tons of bituminous coal last year, of which 600,000 tons were imported from South Africa.

"The coal mine located in Vlakplaats, a region 65 kilometers (40 miles) to the east of Johannesburg, is part of Witbank, the country?s largest coalfield. The Vlakplaats strip mine has 145 million tons of coal reserves and the established infrastructure there is satisfactory for developing coal because there is already a railway passing through the area.

Kores and Continental Coal will jointly start developing bituminous coal starting next year.

Production will be up to 3 million tons per year starting in 2013 and will be supplied mainly to Korean industry."


Now this is looking good!

Today looks great

NASDAQ UP 2.17%*

DJIA UP 2.28%*

S & P UP 2.12%*

FTSE UP 2.07%*

* at time of posting

What a great start to the day

(doubt you'll get your 6.7 FM)

GL al :)