“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

Motorcyclist killed after slamming into signboard

first_imgAn unlicensed motorcyclist was the first road fatality recorded in Berbice for the year. Bhojram Hemraj, 24, of Number 67 Village, Corentyne, was killed on Wednesday evening after he lost control of the motorcycle he was driving and slammed into a metal signboard.Dead: Bhojram HemrajRegional Commander Calvin Brutus told this publication that even though he is dead, a blood test will be conducted to determine his alcohol level.“We were told that he was unlicensed and was using a trade plate on the motorcycle. He had no licence to use the cycle and he was travelling at a fast rate of speed. The only other part we need to check now and confirm is whether there was alcohol in the blood,” the Commander stated.There were 17 deaths as a result of road accidents last year in the Region, which was the same number for the previous year. Of that figure, seven were motorcyclists.The motorcycle that Hemraj was driving at the time of his demiseAccording to the Commander, as road users, persons need to pay attention to the rules of the road. “There are established speed limits for different zones and this is done based on analysis; my engineers that had the speed limits fixed at that rate because of the general circumstances surrounding the quality of the road, the housing and communities close to the road and the width of the road”.Those factors, he added, were all taken into consideration in coming up with the speed limit for a particular area.“Some areas have a certain speed limit while others have a different speed limit on the same road,” Brutus explained.last_img read more

UEFA to hold hearing into Mamadou Sakho’s failed drug test for Liverpool in July

first_img1 Liverpool defender Mamadou Sakho’s hearing over a failed drugs test has been scheduled for next month.The France international, who was initially suspended by UEFA for 30 days when the offence came to light, tested positive for a fat-burning substance after the Europa League tie against Manchester United in March.UEFA subsequently did not extend the ban once it had expired at the end of May as the governing body launched its own investigation into whether the substance the centre-back took should even be on the banned list.Press Association Sport now understands Sakho’s case will be heard next month, although no exact date has been set.Sakho, after consultation with the club, decided to remove himself from selection when news of the failed test came to light in April, meaning he missed the Europa League final defeat to Sevilla and scuppered his chances of making France’sEuro 2016 squad.The 26-year-old submitted his defence to UEFA’s disciplinary committee last month and as part of that process his legal team questioned whether the substance in the supplement should even be on the prohibited list given some apparent scientific evidence concerning its effects.With Kolo Toure released and Martin Skrtel likely to move to Turkey after the European Championship, manager Jurgen Klopp is likely to have only three senior centre-backs at the club for the start of pre-season and one of those is new signing Joel Matip.The outcome of Sakho’s hearing, and whether or not he receives a suspension, is likely to impact on Klopp’s transfer strategy as any ban would leave him with just Matip, Dejan Lovren and youngster Joe Gomez, who is returning from a nine-month absence caused by a cruciate knee ligament injury.Liverpool have added a friendly against Klopp’s former club Mainz to their pre-season programme.The match will take place on August 7, the day after their high-profile game against Barcelona at Wembley, which follows on from four friendlies in the north of England and a trip to the United States. Mamadou Sakho last_img read more