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Everything posted by JSB

  1. Apologies if already posted: CR Jenny Hill "...Cr Hill said there was a stigma surrounding Adani. “Some people, including (Dawson MP) George Christensen, have stated there’s an element of racism being driven out of places like Sydney and Melbourne,†she said. “We know there are other mines looking to begin operation. “After investing into Sun Metals, that brought about 600 jobs. “We will be investing in the battery plant to get that up and running. “This is no different.â€ÂÂÂÂÂ..."
  2. Seems like Oman is starting to firm up a little more since mentioned in this article The former Macquarie Bank property guru Mr Moss has drawn together the manufacturing expertise of Eastman Kodak with the technology of Nasdaqlisted C4V and Australia’s Magnis Resources, which is developing a high-purity graphite mine in Tanzania to supply a battery factory in the US, and potentially Australia and Oman. S Whittingham at 5:26 - "There are similar activities in Oman, Germany and Australia" No guesses for where the next plant, if any, might be announced
  3. It's all gotten a bit too hysterical - I'm closed down over there too. When baseless opinions trump facts, research, and logic, there's a problem. Finally got set up here, so I hope to be able to contribute in a meaningful way. Cheers Blacksheep
  4. These are our Priorities The newly-sworn-in Minister for Minerals, Ms Angellah Kairuki, said she will start by improving relations with investors with a view to ensuring that the Mining sector as a whole contributes to its full capacity to Tanzania’s economic growth. Her second priority is to ensure efficacious implementation of the three Mining laws which entered into force in July this year. Doing this will no doubt pave the way for substantial increases in royalties on gold and other minerals. To that end, it might be found necessary to revisit and overhaul some of the already existing contracts and other mining arrangements. “On ensuring effective delivery of my targets, I will use the available experts, as I’m sure that they are also determined to increase productivity in the areas of their expertise,†Minister Kairuki stated. She also took the opportunity to reassure all and sundry that the prevailing investment climate is truly investor-friendly – and that the Tanzania government has always been ready to receive prospective investors with an open mind and open hands.
  5. Hi Blacksheep, from what I can see Resettlement costs are to be paid out within 6 months of the Chief Valuer; Payment of Compensation: (Step 5) • After the valuation, the MLHHSD considers the submitted claims, and offers what it believes to be appropriate compensation to the affected persons. As stated in Section 11 of the Land Acquisition Act, where any land is compulsorily acquired by the President, the Minister [responsible for lands] on behalf of the Government shall pay compensation to persons with rights to the land. TanzGraphite would provide the funds to Government required for payment of compensation. If the affected persons would prefer replacement land and assets, TanzGraphite may at their own discretion offer replacement land and houses (if eligible under the criteria set out in the RAP) at the relocation site in line with the provisions in Section 7 of this RAP. • The compensation for loss of any interest in land to be paid to the owners of land acquired compulsorily should be approved by the Chief Valuer and included in the proposed compensation schedule submitted by the Project’s Registered Valuers (in this case PML) to the Chief Valuer for verification. The CV may request adjustments as they consider necessary. • As stated in the Valuation and Valuers Registration Act (section 52(8)), compensation should be paid “promptly†and if compensation remains unpaid 6 months from the date of approval of the valuation by the Chief Valuer, then interest becomes due, chargeable at the average percentage rate of interest offered by commercial banks on fixed deposits until the compensation is paid. Interest is also payable if the affected person is dispossessed of his land before payment of compensation (section 15(1) Land Acquisition Act). KNL indicated that the RAP would be sent to the Chief Valuer in their announcement on 6 September Certainly sounds "glum" indeed. I have spoken with another company undergoing a similar process with KfW and was advised that everything is "on ice" until the regulations were published. KNL's grinding halt certainly contradicts their "progressing discussions with its banking partners". Understandable that KNL would still be trying to progress discussions, but have KfW been reciprocal? Good to see you still kicking TJ, I was disheartened by your treatment elsewhere. 241
  6. The Citizen: No Plans to Nationalise I've spoken with management from at least four different Tanzanian oriented mining companies, of varying minerals and stages of development, and the privately held opinion is in line with Hassan Abbasi's comments. This article has the first official step in communicating the national ambitions of the law changes, with the intent of largely cleaning up the existing base metal operations (mainly gold) to the benefit of the Tanzanian people with minimal interruptions to new investment (provided the new investment also equally benefits the Tanzanian people!). Appreciate Poullas' conservatism in the AFR article over the weekend, outlining the business prospects in the worst case scenario that Nachu doesn't get developed, but I highly doubt the project will be dropped as a result. From memory, there were a few comments from Bill Moss surrounding the lower wages and power costs in NY (and potentially Oman) offsetting the absolute need for Nachu flake, but not so for Townsville. Provided a stable investment climate can be reached, I don't see any reason why Nachu wouldn't proceed to development if the lithium-ion plans firm up.
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