RE: Short InterestWell, there are reported shorts i.e. those of those who shorted legally and then there are those short who short in colorful ways.
It really does not mater which way one uses.
What matters, in the end, is that you are betting on the right side.
Else, one pays the price.
This week will be very "interesting."
Secondly, for those really interested in Tanzania, here is something else
---------------------------------------------------------------------
https://www.tanzaniainvest.com
Thursday, 02 December 2010 02:45
The new 2010 Tanzania mining laws have reportedly increased the opportunities
for citizens of Tanzania to benefit from the country’s mineral wealth.
While speaking to the Tanzania Broadcasting Corporation in a recently aired
program, Justice Mark Bomani, the chairperson of the Tanzania Mining Commission,
said most of the recommendations that were made by the Commission were adopted
by the Government when they passed the new Mining Law Act, 2010, in order to act
in the best interest of the country.
Mr. Bomani went on to explain that the Commission visited South Africa, Botswana
and Ghana in an effort to learn more about how the mining laws worked in their
countries, how their mining sectors are run, and how the mineral wealth is
distributed between the respective countries and their foreign investors.
The Mining Commission chairperson also said that one of the recommendations that
he and his colleagues proposed was that the State Mining Corporation (Stamico)
be put back into place in order to regulate all of the mining activities within
the country
“The institution will work in collaboration with National Environmental
Management Council (NEMC),” said Mr. Bomani, “in managing environmental impact
before commissioning, operating and after closing the mine.”
In addition, Stamico will also be in charge of managing any payments that will
be made to eligible citizens that live in the areas where minerals have been
located and will be responsible for recruiting local staff to work in the mines
so as to minimize foreign staff dominance within the country.
Furthermore, the Mining Commission has also recommended that it be mandatory for
all foreign mining companies to reserve 15% of their shares for Tanzanians.
According to Mr. Bomani, the Extraction Industries and Mining Transparent
International in Oslo, Norway has joined with Tanzania and will be responsible
for auditing the mining companies in Tanzania in order to verify mineral
productions records, sales and tax compliances.
Contrary to Mr. Bomani, the Executive Director of a foundation for defense of
land rights, HAKIARDHI, Amani Mhinda, said the new law gives too much power to
the Minister and Commissioner of Mines.
According to Mr. Mhinda, this idea is not in line with the recommendations of
the Mining Commission, saying that “Giving so much power to these executives may
provide them with the leeway to make agreements that are unfavorable to
Tanzania, like what happened to many previous mining agreements.”
In addition, Mr. Mhinda suggested that the new mining law overlooks some of the
recommendations of the Bomani Commission such as the establishment of a special
court to hear any cases involving mining disputes and the establishment of an
authority to help develop the Tanzania mining sector.
In an effort to minimize the opportunities for money to be embezzled by
individuals, the Oslo-based Extraction Industries and Mining Transparent
International has been mandated to verify how the Government is spending the
money that has been acquired from the country’s mineral sources.