RE:Ivanhoe pleads for calm on Congo tax hikeFriedland has been here before. He specializes in dealing with impossible people you would just love to strangle. It's a trade off. Places like Congo and Mongolia are largely unexploited because mining companies don't want the headaches. Yet if you have the patience to stay the course and not get emotionally overwhelmed by uncertainty surrounding government intentions, it usually works out. Why? Because the government wants a deal as well. They need the money.
Mongolia was worse. They seized 34% of Oyu Tolgoi. And passed a 68% windfall tax on super profits over $1.18 copper and $500 oz gold. Eventually the tax was overturned, although the loss of 34% of Oyu Tolgoi remained. IVN still went up to $29, before falling back. So, Friedland delivered, under equally challenging circumstances. I don't think this new mining law caught him by surprise. If you don't quit, sometimes you win just by hanging in there and patiently keeping at it. I'm talking about the mining business, not trading. What you do as a trader is your own business.