Over many decades, on all of the continents, we have see time and again, in many mining operations, a repeating scenario; this being: “Promise the land owners everything; reduce it, with ‘operational costs’ (prior to payments); deliver very little to them; leave the owners with nothing for cleaning up the ‘malignant’ messes left behind.” There are very minor iterations to this general theme, be it for ‘below ground’ or ‘open pit’ operations regardless of the minerals involved. These “Capitalists” do NOT share the wealth (thus avoiding ‘Capitalism With A Conscience’).
A continued theme to these Mining Scenarios, regardless of continent or country, is that typically the Indigenous Peoples who own the lands, as cases may be, are NOT given respect as to their inputs on the projects. Instead, governmental bureaucrats speak ‘on their behalf’! We, in International Business, understand how that really works [to the chagrin of the landowners].
In Papua New Guinea, we hope the government will be able to realize gains for its citizens, as it re-negotiates the contractual elements. For past damages to the ecology of the area, how does one properly assess it? For future damage, how does one assure substantial site remediation funds are available? What about health benefits long term for employees who suffer any contamination?
We think that this offered framework by the Canadians and Chinese, is a ‘giant step’ forward towards all participants ‘winning in this card game’; Certainly 51% ownership to the Papua New Guinea Government helps. Since the Chinese are “Masters of the Long View” of business transactions [their not being mere ‘day-traders’], we think stability to this new contract will be evidenced by them. By and large, we applaud “C.E.O.” Mr. Mark Bristow, for his ‘Paradigm Shift’ as to what Contracts can become: “Winning Hands For All Players In The Biggest Gambles Of All: Mining”. As for ‘Gold (Aurum) itself, we say: “Go long as to the ‘play’, you will smile each day.”
Reality: A ‘Good Deal’ for all ‘anxious’ parties requires: a New Deck of Cards; a ‘Clean Shuffle’; Card distribution by One with Integrity; and, Satisfaction in each party’s play.