NewswireToday - /newswire/ -
London, United Kingdom, 2011/02/11 - London based Mineral Mining PLC today confirmed its discovery of large deposits of Chrome, worth several hundred million euros - Mineral-Mining.co.uk. FSE: M8M
London based British company Mineral Mining PLC (mineral-mining.co.uk, share symbol: M8M Frankfurt exchange)
Mineral Mining today confirmed its discovery of large Chrome deposit near northern Bosnia that could produce 10,000 to 12,000 tons a year.
Company also expressed its intentions to setup plant at mine site to produce Chromic Acid. According to its director, plant could be running by late 2012.
So now, Bosnia can become player in growing & lucrative Chrome market, along with Turkey!! Mineral Mining plans to serve Chrome hungry Chinese and Indian market. These deposites, being not too far from port of Northern Bosnia, can be easily be exported. This discovery shall not help Bosnia gaining over 100 jobs & tax revenues, but also add another over $100M per year to rapidly growing revenue stream of Mineral Mining.
Mineral Mining (mineral-mining.co.uk) is also close to acquiring rights to extract Lithium in Balkans. Lithium is a soft, silver-white metal that is a good conductor of both heat and electricity. Because of these properties, lithium is used in the manufacture of lithium-ion batteries. Lithium batteries generate 3 volts of electricity, compared to 1.5 volts for lead/acid or zinc cells.
Lithium is used primarily in the manufacture of car batteries for hybrid cars. These cars are becoming more popular, with the major domestic and foreign car makers using lithium batteries. Hence, lithium has become a highly sought-after commodity.
Known deposits of lithium are found mainly in Chile, which has a base reserve of 7,520, 000 metric tons, and Argentina, with a base reserve of 6,000, 000 metric tons.