“I’m losing Due to Low Iron Ore Price on World Market”

first_imgThe General Services Manager of China Union Iron Ore Mining Company, Cloud Gao has said that he is currently operating at a loss due to the drop in the price of iron ore on the world market.According to him, the current world market price of iron ore for a ton is US$55, thereby causing the company to lose up to US$30 for every ton produced.He said though the situation is “very troubling” it will not cause his company to shut down its operations in Liberia.Mr. Cloud said when his company started the production of iron ore in early July 2013, the price of iron ore per ton on the world market was US$150, which later dropped to US$135 at the end of 2013.He said the drop of about 200 percent per ton was causing his company to lose about US$2.7 million per month in production cost.He said currently, there are no indications that the price of iron on the world market will rise, but assured the Liberian government and people that China Union will stay in spite of the difficult times, adding: “In times of difficulties, you never abandon your friend.”He revealed that China Union on a monthly basis produces between 80 to 90 thousand tons of iron ore.He said the management of China Union has officially communicated with the Liberian government on the situation.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

‘We should have been smoking cigars’: Mourinho

first_imgUnited were 3-0 up before half-time at a freezing Vicarage Road thanks to Ashley Young’s double and a goal from Anthony Martial.But after the break the Hornets struck twice through substitute Troy Deeney’s penalty and Abdoulaye Doucoure before United’s Jesse Lingard finally put the result beyond doubt four minutes from time.United’s victory came after two successive away defeats and left Mourinho’s second-placed side five points behind Premier League leaders Manchester City, who are at home to Southampton on Wednesday.But there was no hiding Mourinho’s frustration when he said: “The second half should have been five or 6-0, it was easier to score than the first.“It was an easy match to win comfortably. At 3-2 the game is in the balance then Jesse Lingard had the initiative to kill the game.“Both him and Ashley Young scored great goals. We missed 4-0 with some actions and Romelu Lukaku had an open goal, Paul Pogba had a free header too…We should be smoking cigars but then were in trouble.”Mourinho said Matic’s exit had helped turned what look like a comfortable win into a tougher battle.“We lost stability when Nemanja Matic had to come out but the important thing is the three points,” the former Chelsea manager explained. “I saw happiness from the team and played with a free mind.“Last season I learned what Ashley Young can be, he gives stability in his performances and this season he is playing more regularly.“He has the spirit and experience we need, today he also had the talent to score two beautiful goals.”Mourinho added: “For Matic to tell me he wants to be replaced, he does not do that if it is nothing important. It is muscular.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Manchester United manager Jose Mourinho, pictured on November 25, 2017, expressed frustration that his team allowed Watford to catch up in what he says should have been “an easy match to win comfortably” © AFP/File / Oli SCARFFWATFORD, United Kingdom, Nov 29 – Manchester United manager Jose Mourinho said his side ought to have been “smoking cigars” after they made hard work of an eventual 4-2 win away to Watford on Tuesday.But the Portuguese boss said his side had “lost stability” when midfielder Nemanja Matic went off early in the second half with a “muscular” injury.last_img read more