At this link is an interview with Anglo American’s Mark Cutifani on the past progress and promised future performance of Anglo American. His message: we will get there, with there being a 15% return on capital employed (ROCE). (more…)
Archive for the ‘Investing & Finance’ Category
Posted in About the news, consulting, Human relations and mining, Investing & Finance, Jobs and Salaries, Latin America, mining, Peru, tagged argentina, Barrick, Chile, pascua lama, Peru on May 14, 2014 | Leave a Comment »
The news report today that caught my attention is this. Politicians say such strange things!
Argentina’s mining minister, Jorge Mayoral, surprised quite a few of the 300 executives present an annual luncheon last week, by calling its neighbouring Chile and Peru mining models “a failure.”
According to Mining Press (in Spanish), the official was especially critical of the other two countries openness to foreign investors. Mayoral said Argentina did not want mining in a Chilean or Peruvian way:
“We want mining our way, which means we want to favour domestic suppliers, local management, make sure jobs are taken by technical and professionals coming out of our universities, that respect for the environment is a priority, and most importantly, that all this is done in a safe matter,” he was quoted as saying.
Ironically, the minister also called on his Chilean peer, Aurora Williams, to expedite a decision on Barrick Gold’s Pascua Lama project, which has been halted since last year, after a number of defeats in local courts about water use and the impact on glaciers in the area. While later Barrick stopped construction of the $8.5 billion project as part of its debt-reduction and cost-cutting program, it is still facing major fines and a class action lawsuit because of it.
A report released by the government in March shows Argentina’s mining sector is expected to attract about $4 billion this year, with US and Indian companies reportedly interested in developing the nation’s copper and lithium.
Posted in About the news, British Columbia, Community relations, consulting, Investing & Finance, Jobs and Salaries, Mining history, People, tagged canada pension plan, escobal, Guatemala on May 10, 2014 | 2 Comments »
Four short stories and one succinct opinion. No pictures. You decide.
Story 1 – Gambling
A father took his young daughter with him to gamble. The men sat gambling until late in the night and into the early morning. The daughter busied herself as only teenagers can when their parents are at play. The father’s luck was fierce. He won a great deal and the losers were sore. Finally the father left with his daughter, but the losers were not happy. They wanted their money back. They waylaid the father and daughter and an altercation broke out. Guns were pulled. The daughter was shot and killed. The father, bereft, is in hospital fighting for his life. (more…)
Posted in About the news, California, environmental, Human relations and mining, Investing & Finance, mining, Mining history, People, tagged graphite mining, henry petroski, honda, pencil, prius, tesla on March 11, 2014 | 2 Comments »
In his book The Pencil: A History of Design and Circumstance, Henry Petroski tells at length of early graphite mining and its impact on the development of the pencil. From what I recall, for many years there was but one deposit in England that produce graphite of the right quality to produce workable pencils. As one reviewer of the book writes: (more…)
I do not own any shares in Anglo American. Although I suspect some of the mutual trust funds where my money sits do hold Anglo shares. I consult to a number of Anglo mines. Thus this opinion is colored and you should think things through yourself, and not take my every word as a good word. (more…)
Posted in About the news, blogs, brandy, California, Community relations, consulting, environmental, feasibilty studies, First Nations, Investing & Finance, Law (Mining), mining, Mining history, North America, People, tagged Alaska, Anglo American, bristol bay, EPA, Pebble Mine on January 16, 2014 | 5 Comments »
The EPA’s decision about the prudence of developing the Pebble Mine or any other mine in the area of Bristol Bay is in–see this link. This blog (I/me) has been a consistent critic of the idea of developing the Pebble Mine. In short, I cannot see how a mine could be developed in such an environment without unacceptable impact. (more…)