C2C Exploration Raises Fourth Quarter Revenue Expectations as Iron Ore Exportation Increases

Oct. 18, 2012 - C2C Exploration C.E.O Mr Chris Jarvis is quoted as saying “C2C Exploration has had an excellent year, and it appears from our financial data that we will see earnings slightly higher throughout the fourth quarter of 2012 due to increased... More

Oct. 18, 2012 - C2C Exploration C.E.O Mr Chris Jarvis is quoted as saying “C2C Exploration has had an excellent year, and it appears from our financial data that we will see earnings slightly higher throughout the fourth quarter of 2012 due to increased iron ore sales”. C2C's iron ore mine, is located in Northern Brazil, close to the famous Carajas iron ore mine, which is owned by the worlds second largest mining company Vale (VALE, VALE5.BR). Inconsistently, Vale reported only yesterday a fall to 83.9 million tonnes in its iron ore production; although this was attributed to heavy rains at Vale's mines in south-eastern Brazil earlier this year. Furthermore, due to its size and stature, Vale has had environmental licensing problems which have curtailed the company's rapid expansion. This has meant that rather than being able to commence extraction in new areas, the company has been forced to continue mining old deposits, meaning lower than expected productivity of 83 million Less