China Coal Company Links To Northwest
The Northwest Mining Association formalized its link with a giant Chinese coal company Thursday when the sides signed a letter of understanding.
The Fujian Provincial Coal Co., now a corporate member of the Spokane-based Northwest Mining Association, will work to hammer out a final agreement with the association.
The idea, is to give the Chinese access to our mining technology and to give association members the chance to do business with Chinese companies, according to Wallace McGregor, outgoing president of the association.
Zheng Song Yan, the general manager of Fujian Provincial Coal Co., began the informal talks when McGregor visited China last year. The two sides hope to have a more detailed agreement completed before the end of 1996. Through an interpreter, Yan said Thursday that the mining convention has been a great success. “We made a lot more friends than we expected,” he said. “We are happy to sign this agreement.”
Convention notes:
Gold and silver in 1996 likely will trade within the same narrow ranges they have last year, according to Richard Hajdukiewicz, vice president of J. Aron & Company, a division of Goldman Sachs.
Gold will likely stay within the $370-$390 range, but could drop to as much as $350, he said.
Strong demand continues for silver as well. “However, if silver gets up to $6, there’s plenty of people willing to part with their silver to stabilize the price,” Hajdukiewicz said.
Zinc prices should remain stable if the economy remains strong, but lead prices could soar, he said.
The longest undefended border between Canada and the U.S. included the American blue line Wednesday night at the Riverfront Ice Arena. The outmanned Canadian squad poured on the goals to trounce the USA team 9-4 in the convention’s annual hockey matchup despite, Canada having barely one line of players. “Our second line was in Chile, our third in Mexico,” said Jack Patterson of Vancouver, B.C. Geologist Scott Weeks scored four consecutive goals to lead the Canadians.
, DataTimes