Karat Chat


Is it exploitation or a series of blunders?


Is it exploitation or a series of blunders? While we don’t chance processing mined materials, we do hear story after story such as the one here, of investors investing in an industry they know very little about.  Investors facilitating industrial growth for desperate governments and societies to build much needed infrastructure and aid for communities. Or are these companies malicious, greedy, money launderers like we are led to believe?

In the end does it really matter the intent when the result is a community left in ruins and thousands living in abject poverty that turns to extreme violence? We appeal to all who deal with gold – Green gold should not be a choice.


Click on the link below for the full Wall Street Journal video or article.  Very interesting.

http://on.wsj.com/1Wv5cvq

Evy Hambro came to the 2013 Mining Jamboree hunting for more gold.

At the conference, featuring lingerie models strutting before a South African sunset, theBlackRock Inc. fund manager scouted for a mining company needing financing. His search led him to double down on an earlier bet—a gold miner named Banro Corp. he knew had troubled operations in a troubled African country.

Mr. Hambro is discovering just how troubled.

Falling gold prices have battered Banro, as have operational setbacks. It has faced sometimes-violent unrest around its mines in the Democratic Republic of Congo and questions about payments it made to entities controlled by a government official. Local residents blame it for several deaths.

Check out the full article:

http://on.wsj.com/1Wv5cvq

 


Again, we appeal to all who deal with gold.  Green gold should not be a choice.