QuadTech International, Inc. (OTCBB: QTII)
QuadTech International, Inc. (OTCBB: QTTI) International is the Focus: China is at the Epicenter of Global Mining Growth
QuadTech International, Inc. casts its net far and wide with its sights on China. Its global solution to monitoring of mines provides an international uniform solution to the dangers associated with mining. In March 2005, Chinese Premier Wen Jiabao said that the government will spend this year US$361 million on “safety technologies upgrading” at selected state-owned coal mines.
According to MBendi, a South African-based research and consulting company, China’s mining industry ranks third in the world with about 80,000 state-owned mining enterprises and 200,000 collectively owned mines.
China is the world’s largest gold producer
China is the world’s largest coal producer and coal is by far the largest in China
There are 25,378 state-owned coal mines in China of which:
– 778 are large state-owned (accounted for 57% of coal output in 2004)
– 1,200 medium-sized state-owned mines (accounted for 15% of coal output in 2004)
– 3,400 small township/village coal mines (accounted for 28% of coal output in 2004)
More than 6,000 miners died in accidents in China last year, according to previously released Chinese government figures. Independent estimates say the real figure could be as high as 20,000
In March 2005, Chinese Premier Wen Jiabao said that the government will spend this year US$361 million on “safety technologies upgrading” at selected state-owned coal mines *
In February 2005, the Chinese State Administration of Work Safety (SAWS) mandated US$6.3 billion to be spent over the next three years to improve mine-safety. According to SAWS, the US$6.3 billion will bring safety systems and equipment in line with national standards
SAWS said that China reported 80 per cent of the world’s total coal mining-related deaths, although it produced only 35 per cent of the world’s coal
QuadTech International, Inc. has the right product at the right time, for profit, for safety, for China, for the world. Making mining safe with technology is their strength. QuadTech expects the new compact 810C device to be maintenance free for at least one year. It will be available for delivery in the fourth quarter of 2006 and will be competitively priced.
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