Crow
Silver Member
- Jan 28, 2005
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Gidday amigos nothing is inevitable but just potential problems that could arise.
Depending where you are in the Andes some people see through as if ya ghosts. Their perception of the world is very different. From western line of thinking we are programmed time is money attitude and have in general an aspirational out look on the world. Most of these have a very simplistic way of life without the aspirations to get rich. Most work to live not live to work. However in the last 50 years the concept of ownership has been more ingrained in indigenous communities and sense of entitlement. There is a deep seated resentment of seeing westerners profit from what they consider theirs.
While these days media focus has been on us evil white guys seeking to exploit the vulnerable native. Its not always the case. Some times the case is in reverse. But that never gets reported in the media. To even suggest such thing you will get the race card pulled....
And it does get exploited, Boy does it get exploited.
For example many years ago I will drilling in north west Queensland in the gulf of Carpentaria. At a site east of Mount Isa. The mining exploration lease was held by a MIM sold it for a dollar to another mining company. Well the lease was on an old cattle farmstead called Lawn hill station. Under ratification under the native title act the huge property was giving back to the Waanyi people of the region. Well they protested and squealed that us evil white people colonizers have given them back worthless land that they had no cultural ties with. That was their words....
One week after protests in mount Isa that they had complained they had a dud deal and did not want the Lawn Hill property. News come out of the discovery of the worlds biggest lead zinc deposits on the lawn hill property. With in one week the protests shifted from crying worthless dud deal by evil guys to "sacred site" being chanted by the mob.
It was one of most pathetic hypocritical back flips I ever saw. As miners you have to be aware that even some indigenous people will exploit the situation if they think they can get some thing out of it. While its in everyone's interest to see the local population benefit from such projects there is always some one who misses out wgo feel entitled.
lawn Hill and Riversleigh, two iconic pastoral properties with great meaning to the people of the Gulf, were acquired during the 1990s to enable development of Century.
A key provision of the Gulf Communities Agreement (GCA) was that these pastoral properties would be joined to form the Lawn Hill Riversleigh Pastoral Holding Company (LRHPHC). Ownership of these properties was also to be progressively transferred to the Traditional Owners of Country, the Waanyi people.
The formation of Lawn Hill and Riversleigh created a 539,000-hectare pastoral property – a property with great potential for the Waanyi people and the region.
When New Century Resources acquired Century from its previous owners, the Waanyi people owned 51% of the company with Century retaining the remaining 49%.
In 2020, New Century finalised arrangements to transfer full ownership of the Pastoral Company to the Waanyi People, achieving a long-held ambition of the people of the Gulf Communities.
This is why some large mining projects takes years to develop. Century zinc had a 16 year open cut mine producing life and pumped heaps on money into region improving port infrastructure providing mining construction transport hospitality jobs. And employed and trained many indigenous people into well paying jobs. Money went to local cultural grants education. housing schools and infrastructure. As well a as income for the country.
Even thou its closed at present its in the process of being reopened for leach mining until 2050.
If you are into large scale commercial mining you have to have a long term vision for project. But the stark reality some projects will eventuate and others will flounder. Size and scope does not matter. Each project has its own unique set of problems to resolve.
In new guinea The Trio had interests in Nautilus Minerals, one of the world's first seafloor miners, after obtaining all the permits environment assessments building and designing deep see equipment equipment. the company was hampered by continued legal challenges by environmental groups as well as people hoping to get their finger in the pie. The lawsuits constantly hampered getting the company to start producing. Compounded as by direct interference from China. They reneged on a deal of specially designed mother ship. The hold up was catastrophic for the company. Finally the major backer pulled out because of pressure indirectly on another deal with china.
Nautilus Minerals, one of the world's first seafloor miners, officially, its court-appointed monitor, Price Waterhouse Cooper reported. ... In August 2019, court approval was obtained for creditors to liquidate the company to get back a fraction of what they were owed.
Solwara 1 and its former parent Nautilus Minerals Inc. (in liquidation) have been successfully restructured and acquired by DSMF in the course of 2019. DSMF now has full ownership of interests and rights to Solwara 1, key assets, intellectual property, and subsidiaries and is well positioned to progress Solwara 1 into commercial production.
We have treated our investment as a loss so we elected to be shareholders in Deep Sea Mining Finance Limited (“DSMF”) is a privately owned group aiming to become the first in the world to mine Seafloor Massive Sulphide (“SMS”) deposits commercially, starting with its high grade copper-gold Solwara 1 project (“Solwara 1”) in the territorial waters of Papua New Guinea (“PNG”). DSMF is a joint venture between international holding group “USM Holdings Limited” and Sultanate of Oman group “MB Holding Company LLC”.
However we shall see if this new company Deep Sea Mining Finance Limited can resurrect the project. What was frustrating was we did not get to if these underwater robotic mining machines actually worked.
So we took a very big loss in which I am not ashamed to say it hurt. But one thing the trio has done diversified risk by having a small part in many projects. Some will fail others with prosper.
There is much wisdom in not keeping all of ones eggs in the same basket.
Crow
Depending where you are in the Andes some people see through as if ya ghosts. Their perception of the world is very different. From western line of thinking we are programmed time is money attitude and have in general an aspirational out look on the world. Most of these have a very simplistic way of life without the aspirations to get rich. Most work to live not live to work. However in the last 50 years the concept of ownership has been more ingrained in indigenous communities and sense of entitlement. There is a deep seated resentment of seeing westerners profit from what they consider theirs.
While these days media focus has been on us evil white guys seeking to exploit the vulnerable native. Its not always the case. Some times the case is in reverse. But that never gets reported in the media. To even suggest such thing you will get the race card pulled....
And it does get exploited, Boy does it get exploited.
For example many years ago I will drilling in north west Queensland in the gulf of Carpentaria. At a site east of Mount Isa. The mining exploration lease was held by a MIM sold it for a dollar to another mining company. Well the lease was on an old cattle farmstead called Lawn hill station. Under ratification under the native title act the huge property was giving back to the Waanyi people of the region. Well they protested and squealed that us evil white people colonizers have given them back worthless land that they had no cultural ties with. That was their words....
One week after protests in mount Isa that they had complained they had a dud deal and did not want the Lawn Hill property. News come out of the discovery of the worlds biggest lead zinc deposits on the lawn hill property. With in one week the protests shifted from crying worthless dud deal by evil guys to "sacred site" being chanted by the mob.
It was one of most pathetic hypocritical back flips I ever saw. As miners you have to be aware that even some indigenous people will exploit the situation if they think they can get some thing out of it. While its in everyone's interest to see the local population benefit from such projects there is always some one who misses out wgo feel entitled.
lawn Hill and Riversleigh, two iconic pastoral properties with great meaning to the people of the Gulf, were acquired during the 1990s to enable development of Century.
A key provision of the Gulf Communities Agreement (GCA) was that these pastoral properties would be joined to form the Lawn Hill Riversleigh Pastoral Holding Company (LRHPHC). Ownership of these properties was also to be progressively transferred to the Traditional Owners of Country, the Waanyi people.
The formation of Lawn Hill and Riversleigh created a 539,000-hectare pastoral property – a property with great potential for the Waanyi people and the region.
When New Century Resources acquired Century from its previous owners, the Waanyi people owned 51% of the company with Century retaining the remaining 49%.
In 2020, New Century finalised arrangements to transfer full ownership of the Pastoral Company to the Waanyi People, achieving a long-held ambition of the people of the Gulf Communities.
This is why some large mining projects takes years to develop. Century zinc had a 16 year open cut mine producing life and pumped heaps on money into region improving port infrastructure providing mining construction transport hospitality jobs. And employed and trained many indigenous people into well paying jobs. Money went to local cultural grants education. housing schools and infrastructure. As well a as income for the country.
Even thou its closed at present its in the process of being reopened for leach mining until 2050.
If you are into large scale commercial mining you have to have a long term vision for project. But the stark reality some projects will eventuate and others will flounder. Size and scope does not matter. Each project has its own unique set of problems to resolve.
In new guinea The Trio had interests in Nautilus Minerals, one of the world's first seafloor miners, after obtaining all the permits environment assessments building and designing deep see equipment equipment. the company was hampered by continued legal challenges by environmental groups as well as people hoping to get their finger in the pie. The lawsuits constantly hampered getting the company to start producing. Compounded as by direct interference from China. They reneged on a deal of specially designed mother ship. The hold up was catastrophic for the company. Finally the major backer pulled out because of pressure indirectly on another deal with china.
Nautilus Minerals, one of the world's first seafloor miners, officially, its court-appointed monitor, Price Waterhouse Cooper reported. ... In August 2019, court approval was obtained for creditors to liquidate the company to get back a fraction of what they were owed.
Solwara 1 and its former parent Nautilus Minerals Inc. (in liquidation) have been successfully restructured and acquired by DSMF in the course of 2019. DSMF now has full ownership of interests and rights to Solwara 1, key assets, intellectual property, and subsidiaries and is well positioned to progress Solwara 1 into commercial production.
We have treated our investment as a loss so we elected to be shareholders in Deep Sea Mining Finance Limited (“DSMF”) is a privately owned group aiming to become the first in the world to mine Seafloor Massive Sulphide (“SMS”) deposits commercially, starting with its high grade copper-gold Solwara 1 project (“Solwara 1”) in the territorial waters of Papua New Guinea (“PNG”). DSMF is a joint venture between international holding group “USM Holdings Limited” and Sultanate of Oman group “MB Holding Company LLC”.
However we shall see if this new company Deep Sea Mining Finance Limited can resurrect the project. What was frustrating was we did not get to if these underwater robotic mining machines actually worked.
So we took a very big loss in which I am not ashamed to say it hurt. But one thing the trio has done diversified risk by having a small part in many projects. Some will fail others with prosper.
There is much wisdom in not keeping all of ones eggs in the same basket.
Crow
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