More Black Africa Mine ownership "political" consideration comments overheard elsewhere this morn, are offered to buttress and supplement my previuos point/counterpoint in our Mali's geo political costs associated with/translated into production costs of gold mining there mini discussion underway:
Background News
The South African Department of Mineral Resources has released details of
the "scorecard" system under which black empowerment will be progressed
in the mining industry. The purpose is to facilitate the implementation of the
Charter that was drawn up under last year's Mineral and Petroleum Resources
Development Act, converting "old order" rights into "new order" rights, aiming to
achieve a minimum of 26% black ownership in the industry within a 10-year period.
The scorecard concentrates on human resource development, employment,
migrant labour (discrimination), mine community and rural development, housing
and living conditions, procurement, ownership and joint ventures, beneficiation
and annual reporting on progress.
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Commentary:
While the above comments are framed within the context of "So. Africa" political
goals and aspirations, Anglo will be VERY hard pressed to "treat So. African's
better than West African's when push comes to shove and the So. African
mining model moves "North by Northwest..."
I doubt seriously the 26% goal espoused in So. Africa--if moved to/thru the West Africa
Mali, (Ghana, Ivory Coite region) will be satisfied by the 20% Mali govt owned mandate
already on the books, which is basically a TAX regardless of "who owns/operates"
these mines, which is the goal as I read the "26% blacks" movement afoot.
The question is not "if" but "when" as I look at West Africa gold development, Bob.
And the ancillary Q is how soon will West Africa share prices be discounting this
"reality on- the-come/" decreased margins results?"
gold & platinum_tutor |
