Mines only bring wealth and prosperity, IF, the country has Rule of Law and a strong legal system. If not, be prepared for possible pictures of Grasberg 2. Some people have wealth and prosperity, whilst others, like the native Papuans still have little.
Another possible outcome could be, Dutch diease, aka, an overvalued currency. When coupled with corruption it can waste countries, see
- Nigeria
- Venezuela
- Bolivia
- Congo
- Burma
After WW2, Burma was the richest country in SE Asia and was described as the next Japan to industrialise. So much for Burma MK1
But you have to sometimes be an optimist
MYL Price at posting:
7.7¢ Sentiment: Buy Disclosure: Not Held