New Almaden hydrothermal deposition of cinnabar from deep within the earth is found in a gangue of silica-carbonate rock formed locally by hydrothermal alteration of serpentine. The Guadalupe mine produced about 10% as much mercury as the New Almaden. There are several smaller mines in the mining district, but their ore production was not significant. The only significant quicksilver ore is cinnabar; other sulfides are present in small quantities. Mining, other than a single placer deposit of cinnabar, was underground. There is a high probability of undiscovered high-grade ore which could be found and exploited using modern techniques. Mining operations resulted in
Iron ore addition to swaps. The CME group has been the venue most utilised for clearing of options written against TSI, with open interest at over 12,000 lots in August 2012. Singapore Mercantile Exchange (SMX) has launched the world first global iron ore futures contract, based on the Metal Bulletin Iron Ore Index (MBIOI) which utilizes daily price data from a broad spectrum of industry participants and independent Chinese steel consultancy and data provider Shanghai Steelhome's widespread contact base of steel producers and iron ore traders across China. The futures contract has seen monthly volumes over 1.5 million tonnes after eight months