QuadTech International, Inc. (OTCBB: QTII)
QuadTech International, Inc. provides a timely solution. In May of 2006, the United States Senate struck a deal that they said would make coal mining safer, requiring better monitoring. This legislation was sparked by the Sago mine disaster that killed twelve miners in West Virginia in January in 2006.
Market Size
The global metals and mining industry has expanded 118% since the year 2001, largely due to the rapid growth of the emerging economies in Asia-Pacific. In 2005, the global metals and mining industry generated total revenues of $1.3 trillion, with coal mining the second largest sector after steel.
The Market in China
China itself has approximately 300,000 working mines and the Chinese mining industry grew by 26.7% in 2005, reaching a value of $352.1 billion. China has 26,000 coal mines and produces 35% of the world’s coal.
Such fast growth, however, has come at a steep price. Over 6,000 people died in accidents last year, making the Chinese mining industry the world’s deadliest. Recently, government officials have pledged safety reforms. In March 2005, Chinese Premier Wen Jiabao announced $360 million in spending on safety technologies at state-owned coal mines in 2005 alone. Industry insiders estimate that it will cost $6 billion to upgrade safety in all state-owned mines.
Stock Info
Trading Symbol : QTII (trading on the OTC.BB)
Issued & Outstanding Shares: Approx. 23,000,000
Float: 10,000,000
Source: Wall Street Journal. (Eastern edition). New York, N.Y.: May 17, 2006. pg. A11
Source type: Newspaper
Source: QuadTech International, Inc.
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