I hesitate to mention any share as they usually tank later, but take a look at Oxus. They are coming to the end of a court case against the Uzbek govt for basically stealing their business from them. The BoD is confident of a win and fair compensation. There may be difficulties in extracting payment, but the Uzbeks are signed up to international conventions so should stump up eventually. It is an out and out binary investment - you could lose your shirt or 5x 10x 20x or even 30x your stake, probably by year end. Don't blame me if it all goes down the pan though! :-)
Helping Countries Tackle “Orphaned” Toxic Pollution Sites - the focus of World Bank Grant to Blacksmith Institute December 12, 2011 WASHINGTON DC, December 12, 2011 - The World Bank is joining forces with the Blacksmith Institute, one of the world’s leading non-government organizations with expertise in cleaning up toxic pollution left over from past industrial activities like mining and smelting.
Through a $700,000 grant under the World Bank’s Development Grant Facility, Blacksmith will design the framework for a global partnership that will bring together local communities affected by “legacy pollution” with development partners, local governments, other NGOs, and the private sector.
Once in place, the partnership is expected to bring a systematic and organized approach to dealing with legacy pollution globally. It will assist countries to build their capacity to assess contaminated sites, prioritize, develop and manage clean-up projects and will enable clear and effective transfer of remediation technologies.
Over the past decade, Blacksmith has reduced health risks from exposures to lead, mercury, chromium and other toxic pollutants in some of the world’s most polluted places in countries including Indonesia, Nigeria, Senegal, Russia, and the Philippines.
The partnership approach was triggered by concerns from governments and local communities at the lack of action to deal with toxic legacy pollution. Many of these sites are “orphaned” – they have no agency with clear responsibility for cleanup. In some cases, the original polluters are unknown or untraceable, are bankrupt or are now-defunct state entities. In other cases, a large number of operators contributed to the pollution, making liability for cleanup nearly impossible to enforce. Health impacts may include significant disability and even death. Lead exposure, for example, can cause neurological damage, reduced IQ, anemia, muscle and joint pain, and at high concentrations, seizures and death.
“Addressing legacy pollution is vital to improving the environment, health and livelihoods of millions of people in developing countries around the world,” said Mary Barton-Dock, Director of the World Bank’s Environment Department. “Through our work with Blacksmith, the World Bank is catalyzing a new approach that supports countries in their efforts to deal with past pollution problems and restore their local environments.”
President of Blacksmith Institute, Richard Fuller said: “High-income countries have largely solved their major toxic pollution problems. The partnership will give low- and middle-income countries the opportunity to do the same. The expertise and technology already exist. We just need to build the capacity of local partners to replicate and implement. In other words, this is a problem we can solve in our lifetime. This is a chan
This arm of the World Bank were the reason for the recent issue. The agreement made in two tranches with warrants attached. Was the outcome of the approval more certain than believed. Hence the 1/2 mill up front. The RNS which clearly banked on success and MA delivered ZEMA approval. If only there was a cloud in this silver lining.
Mining Overview Presentation IFC Proposed Financing for Oyu Tolgoi, Mongolia Mining Infra Report Contacts
Mining IFC’s Mining Group provides equity and loan financing for mining companies to build projects that reward owners, investors, and local communities. We offer an integrated approach that combines financing with industry expertise and assistance in maximizing projects’ social benefits while minimizing their environmental footprints. Under our unique Early Equity Program, we support mining projects at the pre-feasibility stage by becoming a shareholder and long-term partner.
Investment Areas Financial Products Exploration Development Expansions Financial restructuring Rehabilitations Equity Quasi-equity Loans Capital markets access & mobilization
Maybe they want the project to succeed this time. As there is an incentive to make money whilst doing a deep clean they may be more strategically placed to deliver. BMR may make be the ideal partner to finance. The World Bank has had years in Zambia 2003-2011, a little more than BMR and the projects did not get the greatest of reviews, failed to deliver the objectives, overran and overspent. So in comparison MA could be hailed a success. Cofinancing refers to any arrangement under which Bank funds or guarantees are associated with funds provided by third parties for a particular project or program. Official cofinancing, either through donor government agencies or multilateral financial institutions, constitutes the largest source of cofinancing for Bank-assisted operations. The Bank’s objectives in encouraging cofinancing are to:
Mobilize resources to fill a financing gap in a specific project or program. Establish closer coordination with official donors on country programs, policies, and investment priorities. Provide donors with a cost-effective way of extending assistance by using the Bank’s country experience and capacity to manage projects and programs. Under its cofinancing activities, the Bank provides the following services:
Cofinancing Consultations: these consultations provide a forum for both bilateral donor agencies and multilateral institutions to review projects with cofinancing potential and trust fund opportunities. Framework Agreements: the negotiated agreements establish the procedures for processing cofinancing, trust funds and other collaborative modalities. Export Credit Cofinancing Services: we assist the Bank's six regional vice presidencies and export credit agencies in identifying appropriate opportunities for cofinancing in Bank projects and in structuring particular export credit arrangements. Other services: we also assist operational Bank staff, as necessary, in identifying official cofinancing sources and firming up cofinancing commitments.
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