GREY:COLUF - Post by User
Comment by
BebeRebozoon Apr 24, 2010 1:06pm
560 Views
Post# 17027591
RE: Question
RE: QuestionDo your DD dude. Vale didn't "part with it" willingly, the government of Brazil handed over control of Serra Pelada to the grampieros as compensation for their forced eviction back in the 1980's. The deal that was struck is a testament to the great management of CSI, and the forward thinking government of Brazil, such that everyone wins in this deal, and the only loser is Vale, who is focused on iron ore and nickel anyway, not gold and platinum. This entire story is feel good - you have extremely poor hard working people being rewarded finally with a stake in a mine and jobs and a great company like CSI getting to be a part of it, with us shareholders winning big too - and we're all good guys who deserve it too right? :) If Vale had not been forced to give Serra Pelada up, nothing would be happening there right now, no mining permit would be issued, and Vale would just be sitting on it, still trying to decide what to do, but with no real options, as you can bet the gramperios would not have allowed much of any development on the property without their permission and some sort of compensation.
Hopping on the plane ride home in an hour - sad to be leaving such a beautiful country like Belize!!