Wednesday 29 May 2019

Investors should be very careful when choosing a country for investment

Many countries are changing legislation and require huge environmental fines from mining enterprises.
Now they introduce preventive measures. That is, you have to pay for what you did not do.
For my part, I will say that, as a rule, the harm from most mining enterprises is small.
But you cannot prove it. They are not interested in the truth.
A few examples.
  • Copper mining company "Caserones", which operates in the northern part of Chile and is owned by a large Japanese company, JX Nippon Mining & Metals, will pay a fine of $ 10.8 million (2019)
  •  Gold silver mine "Pascua Lama" of the Canadian campaign "Barrick Gold" will pay the largest fine of $ 16 million (2013)
  •  Chilean court ruled Canadian Barrick Gold to close the project Pascua-Lama, located in Chile (2018)
  • Canadian gold mining company Kinross Gold is going to sell its assets in Chile (Maricunga and La Coipa - Kinross Gold). It is assumed that the company’s management decided to take this step after stopping production at its largest Chilean gold mine, Maricunga, caused by a local regulatory concern about the state of the environment. (2019)
  • The government of Chile decided to take money from the enterprises for tailings. That is, businesses must pay twice for the same thing? According to preliminary data, the amount is $500 million from each (2019)
  • The Australian local environmental court rejected the appeal of the coal mining company Gloucester Resources and forbade it to start mining work on its Rocky Hills section. Greens  organized the persecution of this company. The Rocky Hill Coal Project “it is contrary to the principles of ecologically sustainable development because the direct and indirect greenhouse gas emissions of the mine will contribute to climate change.” (2019)
P.S. This information for those who laughed that I can not sell my apartment in Chile. Let's see how quickly they sell their assets in Chile and how much they will get (or lose)

References
1. https://iclg.com/practice-areas/mining-laws-and-regulations/chile
2. https://gold.1prime.ru/news/20181015/283901.html
3.  https://zolotodb.ru/article/11343
4.  http://www.min-eng.com/
5.  http://krasugol.ru/index.php/novosti-ugolnoj-promyshlennosti/722-avstraliya-teryaet-ugolnye-milliardy-oni-mogut-dostatsya-rossii
6.  http://climatecasechart.com/non-us-case/gloucester-resources-limited-v-minister-for-planning/
Ph.D. Natalia Petrovskaya 



1 comment:

  1. I wrote "Investors should be very careful when choosing a country for investment " and they blocked my access to Twitter, and then blocked the internet. This happened between 15 and 19 o'clock local time. They've hacked my accounts today.

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