I THINK MINING

   Sometimes you just have to shake your head in disbelief.  You must wonder how can these people say what they say with a straight face. 

Let us start with the amazing news that the California alcohol industry is opposing legalization of marijuana, or dagga as we used to call it in South Africa.  Part of the report I read goes:

On September 7th, the California Beer and Beverage Distributors contributed $10,000 to the No on Prop. 19 campaign, which calls itself “Public Safety First.” Proposition 19 would establish a legally regulated marijuana market in which marijuana is controlled and taxed in a fashion similar to alcohol.  It’s clear why the alcohol industry is in this fight — to protect its turf and keep Californians drinking. This is the same California Beer and Beverage Distributors gave $100,000 to oppose Proposition 5, the Nonviolent Offender Rehabilitation Act (NORA), which would have reduced marijuana possession from a misdemeanor to an infraction. With marijuana being the second most popular recreational substance (despite its prohibition), the booze industry must recognize the threat legal marijuana poses to its bottom line. Thus, it has a vast financial interest in keeping marijuana illegal and steering Californians away from using it.

   Then let us consider this report that touts Zimbabwe as a new mining investment opportunity.  Surely this claim is in the same class of hypocrisy as claiming alcohol is OK but marijuana is not.   Here is the call to action paragraph:

In its Zimbabwe Mining Sector Review, investment group Imara Capital said while the country had a lot of potential, now was the opportune time to take an in-depth look at the mining sector in Zimbabwe, which has established large deposits of coal, gold, platinum, asbestos, base metals and diamonds.

At least the author has the decency to admit in closing:

..key constraints within the [mining] sector would be: the continued political uncertainty affects the sector’s ability to attract capital (FDI); government dragging its feet on issues that affect investment such as amendments to Mines and Minerals Act, and Indigenisation and economic empowerment regulations; the release of ground for EPOs, which has been sluggish, inhibiting progress in mineral exploration; and electricity supply constraints which would take time to resolve.

   I have not seen the word Indigenisation before.  Kind of ugly, for it could hide a multitude of sins.  Or could we indigenize marijuana?   Any rate good weekend.  But watch those investments in dubious places and substances.  I for one will just have to stick to booze, preferably good French brandy that I will have to work hard to buy; can’t rely on those Zim investments just yet.