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Ann: Company Presentation, page-5

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  1. 961 Posts.
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    Here's some video of Kilembe, presumably prior to the 2013 start of Tibet Hima's rehabilitation. Quite a majestic landscape tbh. Apparently the locals were fond of the mining industry and wish for its return. They currently dig river sand for income but this ruins the river's banks. The main road looks good. 

    And here's some more history. In addition to the above, Tibet Hima were caught bribing officials, and the project came to a halt over their attempt to export 30,000 tons of ore for test processing. The govt asked for a feasibility study for the trial mining; this was not forthcoming, and led the presidential cancellation of the concession.

    So the Tibet Hima concession is considered cancelled by the govt, but they are appealing via the court system. My feeling is that they'll settle for $, because the govt will be reluctant to return to a relationship sullied by bribery when they are trying to improve the countries' international standing. (Maybe this has already happened?) Court challenges are hardly unusual in the mining industry!

    A positive point is that Australia is Uganda's second ranking FDI partner, after the Netherlands.
 
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