RE: Acacia10 Mar 2021 11:07
Quote -"One of the great things about Shanta is that working with the host government and genuine and substantial community development projects are both laudable in themselves, but protect us the investors and will, in time, deliver us a 'fair' reward."
Sorry, but you are deluding yourself. This statement about working with the host government and genuine and substantial, laudable community development projects was also true for Acacia, but Acacia's generosity to the locals didn't protect them, and before the Tz gov't turned nasty, Acacia had many years of "working with the host government". They had to, in order to develop their mines. After years of the ACA management working hard to build up the company, the Tz gov't saw a chicken ready for plucking they turned nasty and decided to raid the company. First they said ACA owed unpaid tax. A Tz court ruled that ACA had paid all the tax they owed, so, having failed in that attempted raid, the Tz gov't then came up with the claim of undeclared gold. It was theft - and so is withholding the VAT refunds from SHG and other miners. The last I read, AngloGold was owed $150 million.
African governments steal from honest decent mining companies and it doesn't matted how many millions the companies give to local community projects, they will still be targetted for theft.
How do you explain my points about the capacity of the processing plant and the grades?
I don't care if the modern term is CSR, it is charity. Miners pay licence fees, royalities and taxes - anything above that is charity even if you try to dress it up in fancy language like CSR.