Freeport McMoran (FCX) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Freeport McMoran (FCX)

FCX 41.70

-0.1%

Oct 31 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Elizabeth Andrews who wrote (63)	11/15/2000 10:17:33 AM
From: teevee	Read Replies (1) of 141

Elizabeth, Its not positioning. Its done. Mining companies such as Au and PDG etc only are allowed to keep mineral rights immediately surrounding existing operating mines. Mineral rights on undeveloped tenements and under private land have been expropriated. The rational by the government is that other companies may now come and apply to the government for mineral rights to explore for minerals and develop mines on tracts of land with high mineral potential, that until now, were tied up by Anglo Group, other companies and individuals. An example would be the Bushveld Igneous Complex. The governments rational is that the net effect will be to stimulate economic activity. The crown will now also receive permit or license fees in addition to royalties. In reality, it probably means that if a company wants to acquire a tenement or mineral claim or exploration permit, it will mean paying a bribe to some ANC official in the form of a new Mercedes Benz or something like that. Such changes in other African countries has invariably led to institutionalized corruption. regards, teevee

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next