Gold! Haiti eyes potential $20 billion bonanza

[4318michaeljohnson4318]

inb4 ninjahoods "da gold" post


hemis 4 the whole heights

 

[thunderchunk69]

I feel guilty, just by knowing what comes next.

 

[atlien seeko]

hmmmmmmm...

 

[cincoseisdos]

Da Dominicano Cuban Linx , B

 

[pharelfor3]

i will be watching this closely. This will probabaly not end well though

 

[uptownsdotnetstacky]

*Waits for government's excuse to enter Haiti*

 

[RustyShackleford]

Originally Posted by 1C3M4M

Good for haiti

No it's not. 

 

[ninjahood]

Originally Posted by RustyShackleford

Originally Posted by 1C3M4M

Good for haiti

No it's not. 

Better then nothing.

 

[nachobroadweezy]

Hispanola on the come up!

 

[sreggie101]

Originally Posted by bkzkurse

Forgive my lack of expertise in this, but is this good for the economy of haiti or bad?
How come everyone seems so worried - is it because of the situation in Sierra Leone with the diamonds?

its a big economic plus if a country discovers an abundance of natural resources. the question is whether or not that money would go to the gov't or be controlled by a foreign power. Haiti was generally robbed of much profit from its natural resources/exports. A weakly structured gov't within which the U.S has political and economic influence, doesn't make for a sustainable haitian economy. But in the last decade Haiti has suffered from natural disasters (earthquake, and hurricanes) the latter of which poses a yearly threat...a big threat really. the country's infrastructure is already devastated so a direct hit from a hurricane would not be good to say the least. So hence the need for foreign aid. The haitian govt has no money to invest in reconstruction

self edited for rambling

 

[dabottom305]

Haiti's new PM: Mining laws being drafted

By TRENTON DANIEL, Associated Press – 23 hours ago  




PORT-AU-PRINCE, Haiti (AP) — The Haitian government is drafting legislation for the newly emerging mining industry to help this impoverished Caribbean nation reap benefits, the new prime minister said Tuesday.

Laurent Lamothe, who saw his Cabinet and policy plan approved hours earlier, told The Associated Press during an interview that the legislation will be sent to Parliament soon. It will lay out rules apportioning royalties for the government and setting protections for the people and environment that could be affected by mines.

"The most important thing is to have the correct mining law," he said. "It ensures that the right portion comes to the state. It ensures that the people living in the region where the mines are, that their rights are protected. It ensures environmental protection."

The plans to draft the mining legislation come after the AP reported that two mining companies have begun drilling in Haiti's northeastern mountains. The companies say testing indicates the precious metals such as gold, copper and silver is worth potentially $20 billion.

That would be a boon for Haiti, which is one of the world's poorest countries. Most of its 10 million people live on less than $2 a day.

Until the story, few Haitians knew about the recent efforts to mine their country. Mining camps are unmarked, and the work is being done in remote villages on the opposite side of the country from the capital, Port-au-Prince.

U.S. and Canadian investors have spent more than $30 million in recent years on exploratory drilling along with camps for workers, new roads, offices and laboratory studies of samples.

Haiti's mining potential has been known for several decades. In the 1970s, United Nations geologists documented significant pockets of gold and copper ore, but foreigners weren't willing to take a risk in a country where corruption and political instability have long discouraged foreign investment.

Mining laws in Haiti haven't been revised since 1976.

Lamothe said the legislation being drafted is meant to benefit Haiti while also making the country attractive to outside investors by allowing companies to profit from mining.

When asked how much he would like Haiti to receive, Lamothe said: "As much as possible without hampering also the revenue of the party, allowing them to do business."

The interview came after Lamothe introduced the ministers of his Cabinet, which was approved by Parliament on Monday. The government includes two new posts, a minister to deal with poverty and another to support farmers.

In addition to the mining legislation, Lamothe said his government wants to introduce programs that will clean Port-au-Prince's garbage-strewn streets by using firefighters and other workers, better maintain roads and help mothers living in the capital's poorer neighborhoods.

Lamothe, a former telecommunications executive, officially became prime minister Monday night following the approval of his Cabinet and government plan. There had been a nearly three-month vacancy after President Michel Martelly's first prime minister resigned after only four months on the job.

The absence of a prime minister and fully functioning government has hobbled efforts to rebuild after the 2010 earthquake.

http://www.google.com/hostednews/ap...Qp_Lvg?docId=c02b74d0f66e49c68d307bdb41ddfaa5

 

[jfmartimcdandruff]

Originally Posted by RustyShackleford

Originally Posted by 1C3M4M

Good for haiti

No it's not. 

sadly

 

[akajae]

SAK PASE?


Wyclef will scam them out of it doe.

 

[dabottom305]

Originally Posted by akajaedeuce

SAK PASE?


Wyclef will scam them out of it doe.

Lost a lot of respect for that guy. 

 

[savraj1]

Originally Posted by CJ863

Originally Posted by bkzkurse

Forgive my lack of expertise in this, but is this good for the economy of haiti or bad?
How come everyone seems so worried - is it because of the situation in Sierra Leone with the diamonds?

Because the white man will rape another country of its natural resources. They don't give a single damb about Haiti's economy or the well being of Haitians. The country will be pillaged and all we'll see is a nation geographic article about how Haiti lost all its gold.

You forgot China

 

[dabottom305]

Haiti Awards Gold, Copper Mining Permits

Haiti's government announced Friday that it has awarded permits for the first time in the country's history to allow two companies to openly mine for gold and copper.

The nation's mining director, Ludner Remarais, said he hopes the move will bring a badly needed burst of money to the impoverished Caribbean country of 10 million people where many live on a $1.25 a day.

Remarais issued a gold and copper exploitation permit to SOMINE SA, which is jointly owned by Canadian company Majescor Resources Inc. and Haitian investors. Remarais issued a second gold exploitation permit to VCS Mining LLC, a North Carolina-based mining company with offices in Haiti.

"It allows us to finally produce and make money, at least get to that step," Majescor CEO Dan Hachey said in a phone interview. "It's also a great step forward for the mining industry in Haiti."

The company still has to submit a preliminary environmental assessment, although obtaining the permit is the final step to allow open-pit mining, Hachey said. He added that a deadline hasn't been set.

The company will do additional drilling to better determine where the minerals are located, Hachey said.

"You want to see how far these deposits are, how broad, how wide, how deep, how long," he said.

Hachey said the company expects to invest about $75 million to get to the production stage for gold mining. He added that It will take hundreds of millions of dollars more to reach the production stage for copper mining, which he described as more difficult.

SOMINE engineer Michel Lamarre said he expects exploration to start in 36 to 42 months, adding that the company has already spent $10 million in research.

VCS CEO and Chairman Angelo Viard said in a phone interview that the company will start open-pit mining within two or three years.

"We are going to do things the right way," he said. "We are not going to rush. Our number one priority is the environment."

Viard said that company will likely invest between $25 million and $30 million in the process.

Friday's announcement comes after U.S. and Canadian investors spent more than $30 million in recent years on exploratory drilling and other mining-related activities in Haiti. In the past year, mining companies launched exploratory drills in Haiti's northeast region, saying they found precious metals that could be worth up to $20 billion

http://abcnews.go.com/story?id=18038145#.UNTyYG_AeSo

 

[rawsheed]

environmental degradation and injustice in exchange for resource extraction coming to a documentary near you

 

[ryda421]

 

[T Lo Sweater]

Wyclef boutta b richer

Edit

In b4 the us finds Haiti "interesting" and tries to be friendly

 

[mastamind89]

Welp...

 

[RustyShackleford]

China will rape that country for all it's worth.

 

[milestailsprowe]

"If the mining companies are honest and if Haiti has a good government, then here is a way for this country to move forward," said Bureau of Mines Director Dieuseul Anglade.

No.

This will not end well for the small nation. That country needs a boost so it can invest in industry and more. The country will see pennies while the ones in charge will run with it.

 

[thunderchunk69]

FYI Haiti's current sugar industry runs off the back of current day slavery