Globalcrossroadscapital.com reports on mining sector of "12 Market Factors" forum

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 15, 2009 -- As a result, the State of Nevada flag says "Battle Born" and a panhandling miner is featured on the State of Nevada seal.

Today, silver and gold are among the top exports and Switzerland is one the biggest buyers of gold from Nevada.

Gypsum mining is another southern Nevada commodity that that contributes as a binding agent to dry-wall sheets in commercial and residential construction.

Future mining of molybdenum may make boomtowns of Eureka and Tonapah in central Nevada. The publicly-traded mining firm General Moly already has commitments from the world's largest manufacturer of mining equipment to deliver 793 Caterpillar trucks with 240 ton capacity each.

The mining firm already has a long term purchasing agreement from the largest steel producer in the world based in Luxembourg and world's 3rd largest steel producer in Korea. It also has granted commodities distribution rights to a Japanese trading firm for both Japan and Korea.

Molybdenum has applications for hardening steel in ship building (Korea is world's 3rd largest ship building nation) as well as stainless steel materials for oil exploration, pipelines, and crude oil refineries.

The first moly mine is planned on a 9,000 ft. mountain top overlooking the historic Pony Express route. It was bought from Exxon Oil who had anticipated the expansion of the local
oil industry. The firm projects to break even on it's investment in 2 years with a current site net value of $1.4B.

Molybdenum is described as a "vital, versatile metal" according to The Bull & Bear Financial Report and J.P Morgan reports "supply squeeze will push moly prices higher". Current prices of $9 a pound are projected to more than double as early as next year.

Mining jobs in Nevada pay well and average $70,000 a year and employ over 12,000 people. The National Mining Association holds it's frequent MINExpo at the Las Vegas Convention Center.

This mining sector report is 1 of 12 parts of the "12 Market Factors" forum found at the bottom of the homepage of Globalcrossroadscapital.com.

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