Yes, the changes will benefit Oz cobalt explorers/*********, and...

  1. 2,747 Posts.
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    Yes, the changes will benefit Oz cobalt explorers/*********, and bigtime. Also, the Congo has serious problems, no argument about that. But hey, why is an increase to 5% or 10% in royalties by a soverign government worse than 50% or 100% increase in the LME for cobalt? Glencore and the other international companies are making a killing in the Congo, but as soon as the Congo government decides to take advantage of capitalism they are hammered. Congo has more than 50% of world's cobalt so why can't they try to obtain as much royalty income as the market will pay? We have all heard the alternative argument - it's a corrupt governemnt, child slave labour, etc, etc. But those arguments have nothing to do with a government's right to set royalties. Cobalt is not a renewable resource - once it is all mined out, it's gone. Doesn't every soverign government have the right to claim royalties for its reources? In the same way don't we expect that ARL, CLQ, COB, etc, etc have the right to ask for the highest price that the market can bear? So why are there repeated posts of links to articles which are critical of the Congo's decision? Surely Glencore and the other big miners can do their own media. Bluesamurai, I'm not being critical of you. Your work has brought cobalt to the eyes of so many new investors.
 
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