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so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it
    #6698804 -

yeah, im into realestate development out west, and one of the properties that i was looking at has the mieral rights available,

i did some research on old surveys and samples of the area and there is about 35 million tons of ore (30% pure) left under the ground on the property, with iron worth about $70/ton, there could be some money in re-activating the site....

but i know absolutely nothing about mining, and i was curious if anyone on here might have any sory of perspective on the subject.


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698823 -

Mining seems like hard work... Can't you just do the legwork of getting the property, then flip it over to someone who can mine it, for a profit?

You don't plan on actually running the mining operation, do you?

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: RoosterCogburn]
    #6698834 -

filp that shit y0!

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698852 -

You'll have to factor in the cost of refining the ore to figure out if the mine is profitable or not. Many mines are abandoned because the ore that is left is no longer profitable.


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Once, men turned their thinking over to machines in the hope that this would set them free.
But that only permitted other men with machines to enslave them.

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698854 -

You could start by getting a pick axe and a hard hat with a little light on the front.


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All the people you knew were the actors

Edited by LoFiFunk (03/22/07 10:53 AM)

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: FunkyLoFi]
    #6698878 -

yeah trendal,

the refining would be a big cost, but this area was being mined back in the 50's and 60's (profitably) when ore was only goingn for $20/ton....

now that most of the surveying and locating of the mineral deposits has been done, and the price is back up, its quite possible that it has brought the whole operation back up to profitable....

also its worth nothing, that most of the other iron mines in the area are suddenly being bought up by mining companies, one of which i have to call today, as the only entrance to their mine is over one of my roads :smile:

I wouldnt ever run an operation like this on my own, but im sure that i could hire someone to do it for me.


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698886 -

also, its just so damn cheap, the mineral rights in all would cost about $$15,000, which is alot of money, but in the end, a very resonable cost for such a large amount of mineable ore


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698922 -

find a property with gold and ill help ya otherwise mining is a tedious pain the the ass


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If you're frightened of dying and you're holding on.you'll see devils tearing your life away.
But...if you've made your peace, then the devils are really angels
Freeing you from the earth.

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6698974 -

Quote:
The principle ores of iron are Hematite, (70% iron) and Magnetite, (72 % iron). Taconite is a low-grade iron ore, containing up to 30% Magnetite and Hematite....Hematite deposits are mostly sedimentary in origin, such as the banded iron formations, consisting of alternating layers of chert (a variety of the mineral quartz), hematite and magnetite. They are found throughout the world and are the most important iron ore in the world today.

.... depends on what type of ore...


--------------------

"All mushrooms are edible; but some only once." Croatian proverb. BTW ...
  Have You Rated Ythans Mom Yet ?? ... :taser:  ... HERE'S HOW ... (be nice) .  :mod: ... :peace:

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: vinsue]
    #6698997 -

mostly heamite and some magnetite, no precious metals, but alot of trace elements such as titanite and some others.....

i i hear that there is also some platinum in the area, but nothing like that showed up on the mineral survey apparently

as for gold, there is about 60 million worth in an active mine north in the valley, but most of the gold mineral rights are owned by big companies such as newmont mining (the devil )


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

Extras: Filter Print Post Top
Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6699034 -

so u can own the rights to a property but not the gold???


--------------------
If you're frightened of dying and you're holding on.you'll see devils tearing your life away.
But...if you've made your peace, then the devils are really angels
Freeing you from the earth.

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6699046 -

Capatalistc nomad said:
the refining would be a big cost, but this area was being mined back in the 50's and 60's (profitably) when ore was only goingn for $20/ton....




$20 in the sixties is worth more than $70 today

Make sure you do your homework on this one... I'm sure there's a reason it's still available.


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Welcome evermore to gods and men is the self-helping man.  For him all doors are flung wide: him all tongues greet, all honors crown, all eyes follow with desire.  Our love goes out to him and embraces him, because he did not need it.

~ R.W. Emerson, "Self-Reliance"

:heartpump:

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: WhiskeyClone]
    #6699058 -

well yeah, im obviously not going to just go jump in and do it, i just thought the possibilty was extreemely exciting.


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

Extras: Filter Print Post Top
Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6700832 -

Mining companies don't just sell off mines if they could turn a decent profit from them still.

They do sell them, however, when they learn that the cost of mining them is prohibitive to making a profit.


--------------------

I find your lack of faith disturbing

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: Konnrade]
    #6700893 -

its not owned by a mining company, its owned by a realestate development company, which happens to be one of the largest private land owners in several states.

but yes, the cost is probably prohibative


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

Extras: Filter Print Post Top
Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6701050 -

If it's a mine, then it was owned by a mining company at some point was it not?

Unless it's an undeveloped land parcel that just happens to have iron in it...


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I find your lack of faith disturbing

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: FunkyLoFi]
    #6701069 -

LoFiFunk said:
a hard hat with a little light on the front.


a "mining helmet" of sorts.

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: WhiskeyClone]
    #6701119 -

Capatalistc nomad, great idea to think about!

WhiskeyClone said:
Capatalistc nomad said:
the refining would be a big cost, but this area was being mined back in the 50's and 60's (profitably) when ore was only goingn for $20/ton....



$20 in the sixties is worth more than $70 today

Make sure you do your homework on this one... I'm sure there's a reason it's still available.


This is what I found, Inflation Calculator:
"What cost $20 in 1960 would cost $133.62 in 2006"

Edited by Annom (03/22/07 09:42 PM)

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Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: Annom]
    #6701213 -

it was mined after the second world war ended and alot of the ore was shipped to japan, after prices dropped off in '52 production stopped, then it was resumed somewhere around the late 50's and run untill somewhere in the mid 60's.
it produced about 1.1 million tons
with abour 30 million tons of 30% iron ore......

but, i dont even really know if thats worth anything... long story short, i want to buy the surface rights regardless, and the mineral rights might as well be bought along with them (the mine and iron) so i dont get kicked off of the land, or have it developed out from under me


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."

Extras: Filter Print Post Top
Re: so oi have the opportunity to buy an iorn mine, with 35 million tons of ore remaining in it [Re: ZippoZ]
    #6702092 -

You need to know the specifics. Is there something undesirable in the soil, such as arsenic? Would it be doable to ship tons and tons of ore or is it out in the middle of nowhere?

Starting up a mine requires investment in extremely expensive hardware to dig up and process the ore. Just think of the most basic supplies, such as a digger and dump trucks, and you're well over a million dollars with just the means to scoop up and move the ore on your lot. Transport of the ore is expensive too. In the ideal case there is a river nearby so you can use barges. In less ideal circumstances you'd have to lay some railroad track to transport your ore like that.

You are talking about megatons of materials that have to be shipped over great distances. Since "30% ore" may mean theres like 5-10% iron in your material. You'd want to at least refine it to more or less pure ore before shipping, or preferably even set up a plant where you smelt it into ingots. Many, many millions of dollars away.

You can just about forget about exploiting this resource yourself, in the best case you can be intermediary and resell it to a mining company.

If iron ore is $70/T then your soil mix has to be dug up, moved and purified, then shipped and sold at a price well under $20/T which includes wages for your employees and such.

If it can be profitable at all, it can only be made profitable after a massive initial investment to kickstart the operation. I think that if there is a profit to be had by you, it should be through owning the mine & mineral rights and then cashing in on that.

Have a mine engineer take a look at your specific situation, don't l;et us hippies talk you in what may be a perilous (or wonderful) investment.


--------------------
Omnicyclion.org
personal empowerment for the world

:nyan: LGBT - Love God Before Tradition :nyan:

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