HASBROUCK HEIGHTS, N.J., May 24, 2012 (GLOBE NEWSWIRE) -- All Grade Mining (OTCBB:HYII), a development-stage company focused on the extraction of iron ore, cites a forecasted global increase in demand for iron ore in the developing world and favorable mining regulations in Chile where its current and prospective properties are located, as drivers for company growth.
According to a March 19, 2012 report by Raw Materials Group (RMG), iron ore demand is set to double to around 3.5 billion tons per year by 2030.1 RMG also reports that India2 and China3 will continue to drive the market for iron ore by purchasing vast amounts of the material crucial for steelmaking. This increased demand for steel is also being fueled by the rapid expansion of a middle class4 across India and throughout Asia, Latin America and Eastern Europe, resulting in a major surge in commodity pricing.5
Additionally, the company cites the fact that contrary to most emerging market nations, the Chilean government has enacted favorable new mining legislation,6 protecting ownership over mining concessions and creating incentives to facilitate mining, exploration, exploitation, and the creation of mineral processing plants by foreign companies, investors and local private firms.7
Gary Kouletas, CEO of All Grade Mining, stated, "Favorable market conditions for iron ore and other precious metals now and in the future will be a very important driver of growth for the company. Prices for iron ore are forecast to double over the next 18 years and we are positioning ourselves to ramp up operations at our Salitrosa iron property to provide significant iron production by year-end of 2012. We also strongly believe that Chile's favorable mining regulations where our current and prospective properties are located, will contribute greatly to the growth of our holdings, operations and revenues."
- www.rmg.se/images/news/global_iron_ore_demand_set_to_double_19_march_2012.pdf
- Infrastructure 2011 - Ernst & Young publications
- China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters
- The Emerging Middle Class in Emerging Countries, H Kharas -2010 www.oecd.org/dataoecd/12/52/44457738.pdf
- Recent Surge in Global Commodity Prices – Bank of Japan review, march 2011.
- www.amchamchile.cl/UserFiles/File/Mining%20Industry.pdf
- Mine 2011, The game has changed Review of global trends in the mining industry –PWC 2010
About All Grade Mining, Inc.
All Grade Mining is a development-stage company whose mission is to acquire mining concessions in all phases, all sizes and all minerals. The Company is currently focused on the extraction of iron ore in South America, primarily in Chile and has established an experienced team of executives and mining professionals to lead its exploration and excavation efforts.
For more information please visit: www.AllGradeMining.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.