The second article is really about nickel mines (which I largely agree with) but the gist is clear for the industry as a whole.
With regard to Oceana I hope that this is a beat up as Oceana are a first class operator. If they are found to be non compliant through this sort of rubbish then there is no hope for anyone.
I see people on various threads talk about how western operators have a real advantage through being answerable to shareholders and doing things better than locals but everyone misses the underlying desire to remove westerners from all primary industries and put these assets that belong to all in the hands of local operators.
In reality this is all about local governments getting only little of the tax purse. For mining of metals the taxes mostly go to the central government wheras a quarry would pay most taxes to the provincial governments. The locals are using Lopez as a tree shaking exercise to try and get money but she is using their unfounded complaints as the basis to close mines that have been on her radar for a long long time.
Why on earth was the fox put in charge of the henhouse?
OGC Price at posting:
$4.77 Sentiment: Hold Disclosure: Not Held
