Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-15

First 15 Last

Share
Profile

Follow
52570

4,731 Posts.

511

04/05/24

09:16

Post #: 73662259
Share

Originally posted by Gwaihir: ↑

As Barrick have stated in their release and webinar, and in the financials, they have been ordered to replace Western staff by training up Malians to take over all those jobs and run the gold plant.

Companies like Leo have also been ordered to do the same.

Barrick paid an additional $370 million in taxes last year, on no production increase.

And the Russians are building, for free, the Malians a gold refinery in Bamako.

If you read between the lines, this looks like it will eventually add up to only one (1) conclusion.

That is the nationalization of all mines in Mali by the government, once all the Western companies have obeyed the new laws and trained all the Malians up in running all the mines.

It may take 2 or 3 years, but this seems inevitable to me now.

And it's not unusual. For example, Mexico has nationalized all Lithium mines, and Niger has nationalized all oil and gas projects, and there are many other examples now of similar resource nationalism sweeping continents like Africa and South America.

This does not bode well for Barrick or Leo, or the other gold miners in Mali.

The only winners from this will be the Junta and Wagner.

Gw

Expand

The 'only problem' , I see with that hypothesis, is that if Mali nationalized every mine it might be a win in the shorter term. But longer term a poor country needs offshore capital to develop new mines etc?

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

CKA

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI

BCI reaches close of funding facility for salt-first part of Mardie project

BUX

Buxton projects new graphite province discovery at WA Narryer play

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

WCN

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

SLS

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

NTI

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

There are more pages in this discussion • 3 more messages in this thread...

First 15 Last

Add FFX (ASX) to my watchlist

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-15

Top Stories

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Buxton projects new graphite province discovery at WA Narryer play

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Featured News