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NEW YORK, Nov. 15 /PRNewswire-FirstCall/ —

flag.gifAllied Energy Corporation (OTC: AGYP) is pleased to announce that Company representatives will be visiting Zambia next week to inspect the producing tin, tantalite and mica concessions (mining title and leases) in the area of Choma, Zambia collectively, the “Starfield Mine”).

As previously announced, the Company has entered into a Memorandum of Understanding with Starfield Minerals Ltd. (”Starfield”), for the purpose of acquiring Starfield itself or its sole asset, being the Starfield Mine.

Located in continental Southern Africa, the Republic of Zambia is one of the world’s principal tin producers and is extensively resource rich in other metals and minerals (e.g. copper, tungsten and nickel).

Allied Energy Corporation will focus on the profitable development of the Starfield Mine; however, the Company intends to aggressively pursue additional acquisitions complimentary to this initial transaction.

Production at the Starfield Mine is currently conducted by artisanal
workers using hand-labour and it is anticipated that extensive production efficiencies and volume improvement can quickly be achieved using mechanization.

When mining plant and equipment is installed, production is expected to increase, over time as implemented, from current nominal levels to potentially 400 tonnes per month of tin concentrate.

Due to current and forecast demand for tin, driven principally by demand in China and India, it is forecast that the price of tin will be sustained or increased from current levels. Currently, tin trades for $16,500 per tonne ($7.48 per pound) on the London Metal Exchange.

Tin (Sn) is classified in the group of base metals, which consist of
non- precious metals of great importance and utilization in the
infrastructure of society and industrialization.

Due to its low melting point, Tin easily binds to iron (steel), lead, copper, and zinc, which makes it an important coating material for prevention the rusting or oxidation.

The main industries that utilize tin are: food preservation canned foods), telecommunications, electric circuits, semiconductors, and architectural engineering.

For the year 2006, the global tin market was estimated at 360,000 tonnes, which translated into a total global USD value of approximately $5.5 Billion. This number is expected to grow significantly due to the rapid modernization and GDP growth of the large and emerging Asian economies (i.e. China, India, Indonesia).

As the Choma site is expected to be developed further, it is anticipated that most if not all of the current artisanal miners will be employed in this venture.

Additionally, adjacent sites have been identified for potential acquisition as part of expanded exploration and development activities.

Production will be delivered to market via South Africa or Tanzania.
Zambian, South African and American based entities have expressed a
willingness to purchase the product.

About Allied Energy Corporation:

Allied Energy Corporation is a publicly traded Company actively seeking a potential acquisition target within the natural resources sector. On October 31, 2007 the Company entered into a Memorandum of Understanding to acquire Starfield Minerals Ltd. or its assets. Starfield Minerals Ltd. owns a Zambia, Africa based tin and tantalite deposit (the “Starfield Mine”) in the vicinity of Choma, Republic of Zambia.

Contact: Antonio Treminio, Investor Relations, Allied Energy
Corporation, Tel: 212-315-9705, e-mail: Antonio@hotequities.com

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The factors boosting commodity prices such as copper, uranium, gold, cobalt, sugar, etc. are likely to continue, keeping those prices up …

The good times are here to stay in the short to medium term. Sugar is in high demand in the European Union and Nakambala can reap high returns from this. 

The price of gold, South Africa’s biggest export, has surged 16 percent this year, helping to underpin the currency for instance.  Copper has climbed 25 percent, benefiting Zambia, Africa’s biggest producer of the metal.

Overall, Sub-Saharan Africa is benefiting from rising prices of gold, oil and copper, helping the region’s economy expand an estimated 6.8 percent this year, from 5.5 percent last year. The challenge now is for countries like Zambia that are dependent on commodity exports to properly “manage” the commodity boom.

If we respect the truth, then we need to admit that commodity boom phases have not been managed well in the past, and we are at risk of making the same mistakes again. The main factors underpinning commodity prices were strong demand for platinum in devices that cut pollution in cars and rising demand in China and other emerging markets.

Still, commodity prices might drop, hurting growth in some African countries. To assume that current prices and the current boom phase reflects a permanent shift, rather than a temporary opportunity, would be a naive and risky approach to adopt. 

If our analysis is correct, then the slump will come and it will bring with it a significant decline in commodity prices but prudent asset management now would help governments that are diversified enough to transition into manufacturing, construction and service sectors.

 

 

 

However, with norminal GDP rising from $3.24 billion in 2000 to well over $10.71 billion in 2006; per capita GDP income thriving from $303.00  in 2000 to $902.00 in 2006; inflation falling from 26.1% in 2000 to just 9.2% for fiscal year 2006; tourism at its highest peak and a combination of other factors … the Zambian Enterprise is headed for some good times, that’s the memo this week from us at the Zambian Chronicle … thanks a trillion

 

Brainwave R Mumba, Sr.

CEO & President – Zambian Chronicle  

Copyrights © 2007 Zambian Chronicle. All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom.

Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc.  

Copyrights © 2007 Microplus Holdings Int., Inc.  

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HOPING TO BOOST FOREIGN INVESTMENT

 

Zambia is to defer payments on a 30% customs duty for mining equipment for one year to allow foreign mining companies time to get operations running smoothly.

LUSAKA (Reuters)  – 

Zambia will defer payments on customs duties in a bid to boost foreign investment in its mining industry, finance minister Ng’andu Magande told Reuters in a weekend interview.

Magande said Zambia’s Treasury will defer payments on a 30 percent customs duty on imported mining equipment for up to one year to give companies a chance to get operations going smoothly and gain profits from copper and cobalt projects.

“I can’t tax somebody who is not making profits,” he said.

The Treasury has said it would raise mineral royalties to 3.0 percent from 0.6 percent and corporate tax to 35 percent from the current 30 percent for mining companies following a rise in global metals prices.

Magande said negotiations on royalties, which were scheduled to start in September because Zambia was hiring foreign consultants on the talks.

“We should be able to start this process by the end of September or October. Everybody thinks that perhaps within three months we should be through with the negotiations,” he said.

Copper mining earns the bulk of Zambia’s foreign exchange but analysts say the country does not reap enough benefits becaue the mines are owned by foreigners.

He noted there was no fresh investment from new foreign companies but that existing projects were expected to raise output.

“Most of the big companies that have already had (investment) plans are saying to us that the highest curve of investments is this year and then next year we will see production coming up,” said Magande.

Foreign firms operating in Zambia include London-based Vedanta Resources Plc , Canada’s First Quantum Minerals , Swiss firm Glencore International AG and Australia’s Equinox Minerals Ltd.

Most of Zambia’s big copper mines are majority-owned by foreign firms, with the government holding no more than a 14 percent stake in any one venture.

Zambia forecasts finished copper output to hit 670,000 tonnes in 2007 from 515,000 tonnes the previous year.  

http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=25358&sn=Detail

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classy-daddy-3.gifThe Munali Nickel-Platinum project has been assigned at 100% to Albidon Limited traded at the London Stock Exchange which successfully listed on the Alternative Investment Market (AIM) and ASX with an initial capitalization offer that raised over $15 million dollars for full prospecting purposes almost three years ago. 

This deposit is a member of the gabbroid-hosted class of nickel sulphide deposit with a considerable “platinum” component in it. This high grade allows Munali if fully mineralized to be the first platinum mine for the Zambian Enterprise. 

It means that as Albidon carries out their mining franchise activities in Munali for Nickel, platinum will also come along. Strong electromagnetic conductor targets in the western portion of the Munali structure have already yield some very positive domino effects. 

It is therefore up to the ministry of Mines and Mineral Development to get on this ball as quickly as possible and work with Albidon in order to materialize this venture as well as operationalize it as quickly as possible. 

Platinum demand around the world is at an all time high as expectations that global demand for platinum will exceed supply will underpin value going forward, analysts say, even if near-term prices ease as labor tensions recede.

Anglo Platinum is the latest South African producer to slash its 2007 production forecast, with output seen down by some 8%, or around 250,000 ounces, as a result of labor and health and safety concerns.

Last month, Lonmin PLC, the world’s No. 3 producer, said it will defer between 70,000 and 80,000 ounces of platinum sales to 2008, while Aquarius Platinum logged some lost production as a result of a five-day strike in their country of operations.

The sooner this Munali project is mineralized for the benefit of the Zambian Enterprise, the better but with Albidon having operations in as many countries as Botswana, Tanzania, Tunisia and Malawi apart from ours, they may as well end up shaving our prospect as they look at other already operating ventures for maximum profits …

The president (HE Levy P Mwanawasa, SC) recently said that the ministry of Mines and Mineral Development will soon start revolking prospecting licenses under what he called a “use it or lose it policy”; but we are yet to see any such action taken thus far; other serious investors are still out there … thanks a trillion.

Brainwave R Mumba, Sr. 

CEO & President – Zambian Chronicle 

Copyrights © 2007 Zambian Chronicle.  All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom.

Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc. 

Copyrights © 2007 Microplus Holdings Int., Inc.