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Canada’s Ivanhoe to start copper production at new DRC mine in 2018

Canada’s Ivanhoe Mines (TSX: IVN) expects to begin mining copper from its giant Kamoa project in the Democratic Republic of Congo in late 2018, as the company foresees a looming deficit in the market and rising global demand.

The Vancouver-based miner believes conditions should favour the launch of the mine, located around 25 km. west of the major mining town of Kolwezi, in the Katanga copper belt.

Even if China is running out of steam or slowing down today, other countries are still asking for copper,” said Louis Watum, the head of Ivanhoe DRC

"Even if China is running out of steam or slowing down today, other countries are still asking for copper,” said Louis Watum, the head of Ivanhoe DRC, AFP reports. So in the two or three years (to come) we can easily foresee a deficit of copper on the market just as we go into production," he added.

China’s Zijin, a large gold, copper and zinc producer, agreed in May to pay $412 million for a 49.5% stake in Kamoa Holding, the Ivanhoe’s unit that owns the majority of the Kamoa copper project in Congo’s southern province of Katanga. The deal came just two months after the firm agreed to acquire a nearly 10% stake in Ivanhoe for about $85 million.

Challenging scenario : 

Copper prices, however, are not helping to boost enthusiasm for the new mine. The industrial metal has fallen about 25% in the last 12 months as a result of excess in the market.

On the supply side, companies such as Glencore (LON:GLEN) and Freeport-McMoRan (NYSE:FCX) have recently announced plans to reduce output, raising hopes that this could alleviate a global oversupply.

“It’s just not making sense. We’ve never seen copper inventories down at these levels and prices, because these levels, you normally have a much higher copper price,” said Glencore’s CEO Ivan Glasenberg during the company’s earnings call Aug. 19.

Many blame China, the world’s No.1 source of metals demand, for souring the mood in the market. On Monday, the country reported its slowest economic growth since the financial crisis, at 6.9% in the third quarter.

“The positive effect from cuts is rapidly waning as investors are concentrating more on the demand side, on Chinese weakness, and they got one more evidences of it in data from the beginning of this weak,” Julius Baer analyst, Carsten Menke, told The Wall Street Journal.

Ivanhoe Mines estimates that Kamoa, discovered in 2007, holds the equivalent of at least 45 million tonnes of pure copper. The company aims to extract 300,000 tonnes per year once the mine is operating at full tilt.

The Africa-focused miner expects a feasibility study, as well as the joint venture with Zijin and the Congolese state, to be completed by year-end.

Source <> http://www.mining.com/canadas-ivanhoe-to-start-copper-production-at-new-drc-mine-in-2018/

BlackBerry Leap smartphone launched in India

Canadian manufacturer BlackBerry has unveiled its Leap smartphone in India at Rs 21,490. The mid-range smartphone, which was unveiled at the Mobile World Congress in Barcelona earlier this year, will be available starting May 12 at all BlackBerry Exclusive Stores. 

BlackBerry Leap sports a 5-inch HD (720x1280p, 294 PPI) touch display. Powered by a relatively older 1.5GHz Qualcomm Snapdragon S4 dual-core processor, the phone has 2GB RAM and 16GB flash storage in addition to a microSD card slot that supports card up to 128GB. 

Leap runs BlackBerry 10 OS (version 10.3) and supports BlackBerry Blend desktop software. It supports Android apps and comes with both Amazon Appstore and BlackBerry World. 

The phone sports an 8MP rear camera with auto-focus and flash and support for 1080p video capture, and a 2MP fixed-focus front-facing camera that supports 720p video capture. 

BlackBerry Leap comes with a 2800mAh battery with a claimed backup time of 25 hours with heavy use. In terms of connectivity, the phone supports 3G, Wi-Fi 802.11 b/g/n, Bluetooth 4.0 Low Energy and EDR, GPS, FM radio and 4G (FD-LTE 1800MHz only). 

"The BlackBerry Leap was designed specifically for the young power professionals who see their smartphone device as a powerful and durable productivity tool that also safeguards sensitive communications, while on-the-go" said Sunil Lalvani, managing director, BlackBerry India. "With BlackBerry Leap complementing the latest BlackBerry portfolio, including BlackBerry Passport and BlackBerry Classic, we continue to provide products and services that meet the needs of our consumer and enterprise customers," 

source: timesofindia.indiatimes

China Fiber Optic invests $50 Million in Canada

China Fiber Optic Network Systems Group Ltd. has invested $50 million to set up a plant in Surrey, British Columbia, for the manufacture of components for China's fiber-optic communications network. The plant is set to employ 200 people and is targeted to be up and running in June to produce $100 million worth of export sales to be brought back to China. The plant will be manufacturing ceramic ferrule banks, the tiny components used to manufacture fiber-optic wire connectors.

China Fiber is the supplier for Chinese state-owned telecommunications firm China Telecom, which figures in the government's plans to push fiber-optic networks as the standard for nationwide high-speed Internet. It will also be setting up its North American headquarters in Vancouver, according to company chairman Zhao Bing. Its Canadian subsidiary F-Pacific Communications also set up a research-and-development facility in Redmond last year.

F-Pacific CEO Bei Nie said that the main reason that we established manufacturing in Canada was first, B.C.'s electricity cost is very competitive. The lower cost of electricity offsets the higher cost of Canadian labor, according to the CEO.The plant represents a $50-million investment by F-Pacific in the Candian city, and Nie said that this initial investment could expand up to $100 million.Nie also cited Canada's intellectual property protections, which will help protect the patented technology that China Fiber and F-Pacific will be using to produce the ceramic ferrule banks.

Canada's temperate, less-humid climate is also expected to help in the production of the components, which are sensitive to temperature and humidity. Initial production is meant for use in China, but eventually China Fiber is looking to cater to the North American market.

Nie said that we will provide our specialized equipment to Canadian telecommunication companies bring high-speed fiber-optic connectivity to more homes.

Yuen Pau Woo, president of China Fiber's Vancouver headquarters, voiced out the plans China Fiber has for North America. He said that if can penetrate the North American market working Telus, Rogers, Bell and Sprint, and all the other suppliers, imagine the kind of expansion we could see in North America.

source : http://en.yibada.com/

Manufacturers Canada, Canada Manufacturers, Canadian Manufacturers, Manufacturing Companies in Canada

Canada is the 7^th largest manufacturing country as per Global Manufacturing Competitiveness Index 2013. Manufacturers of Canada heavily rely on resource based manufacturing. Canada has established manufacturing industry. Canada’s manufacturers export more motor spares and motor vehicles, aircraft, industrial machinery, electronics and telecommunications equipment. Canadian manufacturers do more exports and its economy depends on manufacturing exports. Canadian manufacturers’ most trading partners are from United States.

Manufacturers of Canada enjoy several advantages in manufacturing industry which are offered by Canadian government. Canada has efficient regulatory environment which is favorable for business people like manufacturers. The cost of obtaining licenses is reduced recently. There is no minimum capital required for starting a company. Government has flexible labour regulations for business. Canadian manufacturers have low trade or non-trade barriers which allows for open markets. Government encourages manufacturers by providing incentives to invest in under-developed areas in Canada. 

Canadian manufacturers are blessed with abundant natural resources like energy, forest and mineral resources. They are the leading exporters in natural resources and resource-based technology. The major challenge for manufacturers is to find out technically skilled labour for rapid evaluation of technology used in manufacturing. Appreciation of Canadian dollar affects exports by manufacturers. Canadian manufacturers are the major contributors to the Canadian economy. They are also best in food processing, pharmaceuticals, shipbuilding and primary metals among others. 

Many of the Canadian manufacturers are utilizing latest technology in automation, nanotechnology, robotics and bio technology. Canadian manufacturers used to invest more on research, transformation of new discoveries into advanced products and technology. They are the global leader in innovation and advancements. 

Bizbilla.com provides a huge platform to get connected with innovative manufacturers of Canada. Trading with Canada now becomes easier with the help of Bizbilla.