Comments on: Strong Arm Tactics in the DRC Threatens Copper and Cobalt Projects http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/ Sourcing & Trading Intelligence for Global Metals Markets Wed, 23 May 2012 01:31:00 +0200 hourly 1 http://wordpress.org/?v=3.3.2 By: Arsene http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/comment-page-1/#comment-13390 Arsene Wed, 22 Jul 2009 05:03:08 +0000 http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/#comment-13390 Sir, i do find your comment fair enough. However, let me give you an example. A Chinese or Korean telecommunication company wanted to in the DRC in the telecommunication sector of course. This company was asked to pay some funny amount of money which were meaningless to the nature of the agreement and they decided to leave. Another instance is with the Chinese Government which has agreed to invest about 9 billions USD in infrastructure in exchange of minerals in order to avoid the mismanagement of funds. I have no idea of what you think of that, but we would agree that if a person has been striving chronically he might be able of all sort of misbehaving actions. My call, is for investors to be aware of all the suffering that the Congolese people have been through and to help that country get up from his knees. I agree with you on the irresponsibility of the leaders of the DRC but in order for that to change a dynamic involvement of everybody including foreigners (investors, etc) would bring a great change in that country. Thank you again for conveying the good message to the world. Sir,
i do find your comment fair enough. However, let me give you an example. A Chinese or Korean telecommunication company wanted to in the DRC in the telecommunication sector of course. This company was asked to pay some funny amount of money which were meaningless to the nature of the agreement and they decided to leave. Another instance is with the Chinese Government which has agreed to invest about 9 billions USD in infrastructure in exchange of minerals in order to avoid the mismanagement of funds. I have no idea of what you think of that, but we would agree that if a person has been striving chronically he might be able of all sort of misbehaving actions. My call, is for investors to be aware of all the suffering that the Congolese people have been through and to help that country get up from his knees. I agree with you on the irresponsibility of the leaders of the DRC but in order for that to change a dynamic involvement of everybody including foreigners (investors, etc) would bring a great change in that country. Thank you again for conveying the good message to the world.

]]> By: stuart http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/comment-page-1/#comment-6852 stuart Fri, 24 Apr 2009 11:56:21 +0000 http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/#comment-6852 Dear Arsene, Thank you for your comments, you make a fair point that historically some countries where the mines are located did not always benefit in the distribution of wealth as much as they should have done. But the world has (largely) moved on from the days of corporate or colonial exploitation and companies like Freeport McMoRan and First Quantum, who have invested hundreds of millions of dollars into the DRC and are (or will) be paying tens of millions of dollars a year back in taxes, are behaving ethically and to the letter of the contracts they agreed with the authorities. It is not the part of foreign mining companies to manage the affairs of the country, that is the role of the democractically elected government. If the taxes and roylaties they pay to that government are not spent prudently for the benefit of the people I dont think you can blame the mining company. The governments of Chile, Australia, Brazil and other prominent sources of minerals manage their revenues wisely, why would the same companies be at fault in the DRC but not anywhere else? Are you seriously suggesting the DRC's problems are the result of companies like those mentioned above forcing corruption onto individuals in power? I think mismanagement is a more realistic explanation, I don't doubt Gecamines think they are doing the right thing for the DRC in threatening to renege on their contracts - they are just misguided. Ed Dear Arsene,
Thank you for your comments, you make a fair point that historically some countries where the mines are located did not always benefit in the distribution of wealth as much as they should have done. But the world has (largely) moved on from the days of corporate or colonial exploitation and companies like Freeport McMoRan and First Quantum, who have invested hundreds of millions of dollars into the DRC and are (or will) be paying tens of millions of dollars a year back in taxes, are behaving ethically and to the letter of the contracts they agreed with the authorities. It is not the part of foreign mining companies to manage the affairs of the country, that is the role of the democractically elected government. If the taxes and roylaties they pay to that government are not spent prudently for the benefit of the people I dont think you can blame the mining company. The governments of Chile, Australia, Brazil and other prominent sources of minerals manage their revenues wisely, why would the same companies be at fault in the DRC but not anywhere else? Are you seriously suggesting the DRC’s problems are the result of companies like those mentioned above forcing corruption onto individuals in power? I think mismanagement is a more realistic explanation, I don’t doubt Gecamines think they are doing the right thing for the DRC in threatening to renege on their contracts – they are just misguided.
Ed

]]> By: Arsene http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/comment-page-1/#comment-6849 Arsene Fri, 24 Apr 2009 11:10:34 +0000 http://agmetalminer.com/2009/04/23/strong-arm-tactics-in-the-drc-threatens-copper-and-cobalt-projects/#comment-6849 Dear editor, we ought to note that these types of writting are just there to give a bad side to the DRC without actually trying to find out where the problem really lies. Your writings suggest that DRC decision makers are wrong.. but it is not mentioned here that the very same investors are the ones promoting corruption in that country! Instead of companies tryiing to flatter their shareholders while accusing the DRC and its people, those companies should be more responsible in where they intend to invest. In DRC, all we can see is the mineral wealth leaving the country and the people being poorer... I believe that these companies should have an honnest relationship with the country by properly guiding it and making it their own instead of bringing corruption and misbehave in the country... Stop blaming the DRC and take your responsabilities as writters and investors.. Arsene Kipayko Mining Engineering Student. Dear editor,
we ought to note that these types of writting are just there to give a bad side to the DRC without actually trying to find out where the problem really lies. Your writings suggest that DRC decision makers are wrong.. but it is not mentioned here that the very same investors are the ones promoting corruption in that country! Instead of companies tryiing to flatter their shareholders while accusing the DRC and its people, those companies should be more responsible in where they intend to invest. In DRC, all we can see is the mineral wealth leaving the country and the people being poorer…
I believe that these companies should have an honnest relationship with the country by properly guiding it and making it their own instead of bringing corruption and misbehave in the country…
Stop blaming the DRC and take your responsabilities as writters and investors..

Arsene Kipayko
Mining Engineering Student.

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