Are you really surprised for him to suggest that Pakistan is a lovely place to invest and we are going to invest more because the sovereign risk is manageable. Dont see BHP/RIO/WMR racing to do exploration there even though the propectivity is high, (in BHP's case, returning there.)
Having been to the Dadar(?) zinc deposit when PAS had it in jv with two Paki authorities-the infrastructure in the region was completely corrupt, as were the two Paki authorities.-this was pre Sept 11.
The TYC deposit is terrific-but trade the stock, dont fall in love with it.
PS .Grassberg/Ertzberg has been the world's greatest mine for the past 30 years producing a massive proportion of the world's copper and gold. From a sovereign risk point of view it is not immune-but it has a unique contract of work in an exceptionally remote region where its operations are not visable to the powers that be in Jakarta.
TYC
tethyan copper company limited
