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Gold/Mining/Energy : Tenke Mining Corp (TNK)
TNK 61.01+2.5%Nov 5 3:59 PM EST
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To: Elizabeth Andrews who wrote (267)11/6/1998 9:56:00 AM
From: Gunnar  Read Replies (1) of 486
 
Though I admire your writing about ARP I think that you take the easy way out of this, E A.
"The idea of countries in Africa is only a western fantasy and something that has been imposed on the tribes. They're going to have to work it out and it may take a few decades. Make it so."
In some parts of Africa is what you state true, but not at all over the entire continent. The OAU has accepted the borders and life that is connected with "modernisation" (beside the old farmer life or something like that?) has to, and does deal with the borders as a social fact. Taxes, laws, communication and so on.
Should Tenke shareholders give up? The ARP play was fixed during unstable political conditions in Argentina. Is that a problem today? Do you mean that there is no possibility to run a mine here for decades? There have been tremendous changes in Europe (-89) and South America due to the post cold war era. Even if the problems is not of the same sort in Africa I am more of an optimist about the situation.
The process that you are referring to is under way right now and maybe further on for some decades. That's right. The people of Congo have fought that struggle since 1950. Don't you want to participate in that process? Because of political reasons or a risk/reward analysis, or both?
Adolf Lundin once stated that ". The coming 100 years belongs to Africa." Let's hope his right. We just live ones.

Regards,
Gunnar
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