Since the end of World War 2, many European countries have become popular places for international investors to sink their capital into large projects with many leading tothe success of long term investment strategies. Countries like Germany, England, France and Switzerland have all had had very successful runs over the course of the last 6 decades of world economic growth. But how about the nations that are considered by European standards to be poorer countries emerging from troubled times in regions of Eastern Europe that in the past 60 years have seen many changes in regime and government policy. Some changes are as drastic as going from communism to capitalism style governments and business practices as we now witness countries striving to advance their economic outlook going into the future.
As some of history’s less capitalistic nations look to emerge as new leaders in economic growth within Europe, many of the richer nation’s large companies are looking to increase profits and corporate revenues by cutting costs and lowering operating expenses by operating their businesses out of the places in Europe like Albania. Albania has attracted many foreign companies to open offices domestically and has recently been responsible for bringing in large amounts of foreign investment into the country. Although Albania remains to be considered as a poorer country by European standards, it is now being realized as an option for business as part of the current massive global cost-cutting exercise we are seeing more and more of in today’s business models.
Albania is bordered by Montenegro to the northwest, Kosovo to the northeast, the Republic of Macedonia to the east and Greece to the south and southeast. It has beautiful beaches on the Adriatic Sea on the west coast and another coastline on the Ionian Sea to the southwest. Albania is a member of the United Nations, NATO, the Organization for Security and Co-operation in Europe, Council of Europe, World Trade Organization, and one of the founding members of the Union for the Mediterranean. Albania is also a candidate for joining the European Union and is expected to become a member by the year 2013. The Albanian capital, Tirana, is home to approximately 607,467 of the country’s 3.2 million people.
Albania and Cyprus are the only countries in Europe that recorded economic growth in the first quarter of 2009.The International Monetary Fund (IMF) predicted 2.6% growth for Albania in 2010 and 3.2% in 2011. There are signs of increasing investments, and power cuts are reduced to the extent that Albania is now exporting energy. These are all very good signs and indicators of Albania’s strength leading into 2011.
CANADIAN MINING COMPANIES EXPLORING ALBANIA
In the past 5 years, we have seen a huge increase in the worlds mining industries due to a direct result of huge price increases for both precious and base metals. These major price increases have been driven by strong consumer buying from SUPER CONSUMER countries like China and India. Another factor causing a rise in metal prices is the addition of billions of dollars in investment capital going into gold and other precious metals in an effort to store wealth in something other than a sinking and deflating US dollar.
With an increase in the price of commodities produced by mining, easierprofits are being made by mining companies around the world. Albania is becoming a major center for Canadian mining companies looking to strike it big within the countries rich geological VMS districts that resemble similar geology to that of the mineral rich RING OF FIRE geological hotbed found in northern Canada’s Ontario, and Manitoba provinces. Here is some examples of a few Canadian Mining companies operating within Albania and looking to help develop the countries natural resources sector.
LETS TAKE A CLOSER LOOK AT A FEW CANADIAN
MINING COMPANIES EXPLORING ALBANIA:
TIREX RESOURCES LTD
Trading Symbol on the TSX V: TXX.V
Trading Symbol on Frankfurt Stock Exchange: 3TI
Shares Issued and Outstanding: 66,420,912
Market Cap: Approx – $68,500,000
THE MIRDITA MINING DISTRICT
The opportunity that Tirex Resources (TXX.V) has at Mirdita is unique because of the company’s first-mover status in this geologically rich country. Tirex was one of the first Canadian mining companies to capitalize on the economic emergence of Albania after the mid 1990’s. Tirex was able to acquire a potentially world-class Mineral District at a time when companies in other countries are simply looking for good individual projects. It is believed that Tirex’s exploration and development team that Mirdita has the potential to become one of the world’s great VMS Districts with multiple large economic deposits. Instead of looking for a great Albanian mining project, Tirex Resources acquired a great mining district as a result.
HIGHLIGHTS OF TIREX’S MIRDITA DISTRICT:
- Great roads and infrastructure to the district. Electricpower and running water is installed on Tirex exploration sites. The project is also close to sea port.
- Tirex holds the largest mining concession in the countries northern copper, zinc, and gold prospecting locations.
- 65 meters of 2.7 grams per ton Au (gold) discovered from Tirex’s previous drill program. High grade sections include 14 meters of 5.5 grams per ton Au (gold).
- Tirex enters into a production agreement with Turkish company Ekin Maden to start producing copper and gold that the Mirdita District. Ekin Maden is currently the owner of the largest copper mine in Albania, theBERALB copper mine.
For more information on Tirex Resources, please visit their official company website at:
GOLDEN TOUCH RESOURCES CORP.
Trading Symbol on the TSX V: GOT.V
Trading Symbol on Frankfurt Stock Exchange: 0GT
Shares Issued and Outstanding: 26,000,000
Market Cap: Approx – $41,200,000
NOR THERN ALBANIAN CLAIMS PACKAGE- A JAB AT MINING SUCCESS
In the past 6 months, Golden Touch Resources (GOT.V) has made fast work out of becoming a major player in the Albanian mining sector with huge announcements such as a merger / takeover completion of another company in the advanced stages of exploration and development in northern Albania, Jab Resources. Jab had previously spent over $5 Million dollars on exploration and development in northern Albania prior to Golden Touch taking over 100% ownership in the claims package situated in the northern section of the emerging mining country. Another major step forward for Golden Touch Resources was the recent announcement that they were immediately moving ahead with a 2000 meter verification drill testing program on their flagship gold project named the Gjuzuj.
Golden Touch Resources (GOT.V)is primarily focused on the development of commercially viable mining, crushing, and production facilities for gold, chromite, and platinum group elements. From the total of the 5 million dollars spent on exploration by Jab Resources since 2008, GOT walked right into a very good mining situation and is becoming one of the leading Canadian mining companies expanding their work efforts in Albania.
HIGLIGHTS OF GOLDEN TOUCH RESOURCES IN ALBANIA
- 2011 verification drilling program underway on the company’s flagship gold project. Analysis from the drill results will help determine the true size of the Gold zone at the Gjuzuj. 6 new additional zones with gold showing at the surface will be testing to help increase the company’s estimated gold resources within Albania. .
- GOT has an estimated $200 million dollars N.P.V. worth of chromite located on the Albanian claims. A pre-feasibility study has indicated an approximate 20 year chromite mine life.
For more information on GOLDEN TOUCH RESOURCES, please visit their official company website at:
EMPIRE MINING CORP.
Trading Symbol on the TSX V: EPC.V
Shares Issued and Outstanding: 51,021,116
Market Cap: Approx. – $29,580,000
EMPIRE ON THE HUNT FOR CHROMITE IN ALBANIA
Empire Mining Corporation (EPC.V)has acquired exclusive exploration and development rights to four exploration licenses, totaling 64.5 km2, within the historically productive, chromite-bearing Bulqiza Ultramafic Massif, Albania. The Bulqiza chromite deposits are noted for exceptional strike and dip extension and are among the largest folded stratiform occurrences in the world with the famous Bulqiza-Batra mine containing production plus reserves of about 18 million tons. The ores are characterized by exceptionally high grade (+40% Cr2O3) and metallurgical quality (CrFe ratios of 3:1) and command premium prices in global markets.
Empire Mining’s chromite district, the BULQIZA, is located in northeast Albania approximately 40 km from the capital and commercial center of Tirana. The Empire project areas are accessible by paved highway to Bulqiza town and by a network of mine access roads throughout the district.
The Albanian chromite ores were discovered in 1942 and the famous Bulqiza mine developed in 1948. During the communist era the chromite industry in Albania, operated through the state company Albkrom and largely centered on Bulqiza, became a major export business and the third largest producer of chromite in the world reaching 1.2 million tons annually in the late 1980′s. Following the collapse of communism in 1989 the industry rapidly declined, becoming effectively dormant in the commodity recession years of 1997-2002, before a period of modest recovery with improving chromite prices since 2003. Production in 2007 was 285,000 tons with roughly half from the privatized Bulqiza mine (now operated on a modest scale by the Russian-Austrian group DARFO) with the balance from small scale surface and underground pillar-robbing operations by local miners.
UPDATE ON DRILLING AT BULQIZA CHROMITE PROJECT
On April 14th, 2012, Empire Mining announced it has begun drilling at the Bulqiza chromite project. This commencement of drilling required Empire’s development team to complete the rehabilitation of Gallery 25 in harsh winter conditions which severely hampered progress. Overhead power-lines were installed from the main grid to the entrance of Gallery (adit) 25. Insulated cables and water lines were installed along 1.36 km in the gallery to support the operation of the drilling rig. Empire now has access to an important underground drill chamber where previous state drilling intersected thicker high Cr2O3 grades
For more information on Empire Mining Corp, please visit their official company website at: