Interview On Mining Potential Of West Africa Two

Last time, we analyzed the the first prat of the mining potential of West Africa

, and today we will continue to go on to proceed on this interview. TGR: Is economic nationalism here to stay? ML: We saw a report the other day that listed 25 countries that the authors felt had become more nationalistic. I think economic nationalism lines up with a couple of things. One, some countries look at higher commodity prices and feel they should get a larger part of the revenues associated with these higher commodity prices. Two, in some countries you have opposition from environmentalists or the people who live nearby. I think this opposition will continue to rise in some parts of the world. TGR: Will it be more prevalent in established jurisdictions or jurisdictions new to mining? ML: One would anticipate more issues in the newer jurisdictions, but if you look around the world, even getting permits in parts of the U.S. is extremely difficult. Some states are very easy; others are quite difficult. Countries change over time. It has become easier to do business in some countries in the Americas. In others, political problems have created more difficult business conditions. The same is true in Africa. Stability is in the eye of the beholder. You constantly have to stay on top of how countries and their regimes can change. TGR: In late February, gold tumbled more than $100/oz in one days trading after Fed Chairman Ben Bernanke dismissed the notion of a third round of quantitative easing. Should gold investors expect more one-day tumbles or price spikes for the foreseeable future? ML: I would not consider that $100/oz move typical; it was a somewhat overblown reaction. However, there is more volatility in the commodity markets and in the markets in general than in the last 5 or 10 years. Investors will have to learn to live with that. TGR: Is volatility driving investors out of the space? And if so, is that a mistake on their part? ML: I think it depends on the type of investor. If people want no or little volatility, they can gravitate to other sectors. I used to be in the pipeline business, where there is little volatility and limited returns. In the commodities sector, specifically the gold sector, I try not to look at daily movements. It is just noise. Day traders will react to all the daily events. If you are more of an investor, daily events should not influence your decision making. We at Pope have a view as to where we think commodities and relative companies are headed. This article is sponsored by Hongxing Machinery specializing in mining equipment manufacturing such as vibrating screen and cone crusher. We look out to the next 3, 6 or 12 months, as opposed to reacting to daily events. Is it a mistake to pull out? For any investor experienced in the mining and commodities sectors over the years, it would be a mistake to pull out. Other people with no experience in the mining sector have to determine their own risk preference and comfort levels.

by: hxjqyang

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