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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (26582)	4/17/2007 1:51:12 PM
From: fp_scientist	Read Replies (1) \| Respond to of 79155

Re: TX The issue with the Venezuela government now is more serious than last time. This is the Ministro de Mineria saying they want control over their mines and ore. There was a glitch on iron ore prices about a year ago (or so) when the government demanded a renegotiation of the prices Sidor pays for the mineral... Now it's deja vu on iron ore plus the added majority control of the company by the state... Ouch. This is going after Sidor's profit source. Labor costs have gone up on that plant... now the pressure is on the raw material... what is next? energy? Look what Chavez did to PDVSA. He is bound to repeat the same mistakes with Sidor, I'm afraid.