Tuesday, May 08, 2012

(AZOMINING) Rio Tinto Eyes Equinox Minerals

Rothshild family owned Rio Tinto is looking to take over Equinox Minerals, which has mining operations in Zambia like Lumwana Copper Mine. Nat Rothschild is also a non-executive director of Barrick Gold, to which the Zambian government sold it's share in Equinox. He also owns half a billion dollar worth of shares in Glencore AG, which owns Mopani Mine, and was caught evading taxes.

Rio Tinto Eyes Equinox Minerals
Published on February 16, 2011 at 5:37 PM
By Joel Scanlon

Rio Tinto may be focusing on Equinox Minerals as a takeover target. The mining giant is said to be looking at small to medium sized new acquisitions may be happy to get the pure copper play as per analysts at the Royal Bank of Scotland.

Equinox Minerals is a mining and exploration company with corporate offices in Perth, Australia and Toronto, Canada. It has operations in Peru, Australia and Zambia but most of its current activity is concentrated in Zambia where through subsidiary the Lumwana Mining Company, it operates mines in the Zambian copperbelt region.

In a research note Lyndon Fagan said that Equinox was one of the few pure copper plays out there and that it would be a logical fit for the diversified, British-Australian, multinational mining and resources group.

With the decline in copper grades across Rio Tinto mining operations worldwide, Mr Fagan said that the company would need more copper projects to maintain its production levels. Since its bid for Riversdale Mining, the company is obviously open to investing in Africa to further its growth prospects.

Equinox is a dual listed company with is found on both the Australian and Toronto Stock Exchanges. It will accord Rio Tinto a foothold into Zambia with its large Lumwana mine. It will also give them a significant land position to undertake further exploration as per the client note written by Mr Fagan.

Zambia is also seen as a lower risk region compared to Mozambique which is where Riversdale Mining is located. This means that Equinox is an easier acquisition from a geopolitical risk point of view for Rio Tinto as well.


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4 Comments:

At 2:53 PM , Blogger MikeTe said...

Barrick Gold Bought Equinox Minerals in 2011 for $7.8 Billion

First Quantum mineral (FQM) will be the next takeover target...

 
At 3:16 AM , Blogger MrK said...

Hi MikeTe,

The more things change, the more they stay the same. NM Rothschild funded De Beers when it was started by Cecil Rhodes, whom they also funded.

NM Rothschild did the privatisation of ZCCM-IH and with it the entire Zambian mining industry in the 1990s. This was after the squeeze was put on the Zambian government by the IMF and World Bank to privatise the mines - they are in collusion.

Same family, same business, same goals.

It is not a conspiracy theory to say that the powerful and wealthy are after more power and wealth. And are going after it the only way they know how.

This is what happened after the end of the Cold War. Only the oligarchs were left standing.

 
At 5:49 AM , Blogger MrK said...

(United Nations) General Assembly resolution 1803 (XVII) of 14 December 1962, "Permanent sovereignty over natural resources"

The General Assembly,

Recalling its resolutions 523 (VI) of 12 January 1952 and 626 (VII) of 21 December 1952,

Bearing in mind its resolution 1314 (XIII) of 12 December 1958, by which it established the Commission on Permanent Sovereignty over Natural Resources and instructed it to conduct a full survey of the status of permanent sovereignty over natural wealth and resources as a basic constituent of the right to self-determination, with recommendations, where necessary, for its strengthening, and decided further that, in the conduct of the full survey of the status of the permanent sovereignty of peoples and nations over their natural wealth and resources, due regard should be paid to the rights and duties of States under international law and to the importance of encouraging international co-operation in the economic development of developing countries,

Bearing in mind its resolution 1515 (XV) of 15 December 1960, in which it recommended that the sovereign right of every State to dispose of its wealth and its natural resources should be respected,

Considering that any measure in this respect must be based on the recognition of the inalienable right of all States freely to dispose of their natural wealth and resources in accordance with their national interests, and on respect for the economic independence of States,

Considering that nothing in paragraph 4 below in any way prejudices the position of any Member State on any aspect of the question of the rights and obligations of successor States and Governments in respect of property acquired before the accession to complete sovereignty of countries formerly under colonial rule,

Noting that the subject of succession of States and Governments is being examined as a matter of priority by the International Law Commission,

Considering that it is desirable to promote international co-operation for the economic development of developing countries, and that economic and financial agreements between the developed and the developing countries must be based on the principles of equality and of the right of peoples and nations to self-determination,

Considering that the provision of economic and technical assistance, loans and increased foreign investment must not be subject to conditions which conflict with the interests of the recipient State,

Considering the benefits to be derived from exchanges of technical and scientific information likely to promote the development and use of such resources and wealth, and the important part which the United Nations and other international organizations are called upon to play in that connection,

Attaching particular importance to the question of promoting the economic development of developing countries and securing their economic independence,

Noting that the creation and strengthening of the inalienable sovereignty of States over their natural wealth and resources reinforces their economic independence,

 
At 5:50 AM , Blogger MrK said...

Desiring that there should be further consideration by the United Nations of the subject of permanent sovereignty over natural resources in the spirit of international co-operation in the field of economic development, particularly that of the developing countries,
I

Declares that:

1. The right of peoples and nations to permanent sovereignty over their natural wealth and resources must be exercised in the interest of their national development and of the well-being of the people of the State concerned.

2. The exploration, development and disposition of such resources, as well as the import of the foreign capital required for these purposes, should be in conformity with the rules and conditions which the peoples and nations freely consider to be necessary or desirable with regard to the authorization, restriction or prohibition of such activities.

3. In cases where authorization is granted, the capital imported and the earnings on that capital shall be governed by the terms thereof, by the national legislation in force, and by international law. The profits derived must be shared in the proportions freely agreed upon, in each case, between the investors and the recipient State, due care being taken to ensure that there is no impairment, for any reason, of that State's sovereignty over its natural wealth and resources.

4. Nationalization, expropriation or requisitioning shall be based on grounds or reasons of public utility, security or the national interest which are recognized as overriding purely individual or private interests, both domestic and foreign. In such cases the owner shall be paid appropriate compensation, in accordance with the rules in force in the State taking such measures in the exercise of its sovereignty and in accordance with international law. In any case where the question of compensation gives rise to a controversy, the national jurisdiction of the State taking such measures shall be exhausted. However, upon agreement by sovereign States and other parties concerned, settlement of the dispute should be made through arbitration or international adjudication.

5. The free and beneficial exercise of the sovereignty of peoples and nations over their natural resources must be furthered by the mutual respect of States based on their sovereign equality.

6. International co-operation for the economic development of developing countries, whether in the form of public or private capital investments, exchange of goods and services, technical assistance, or exchange of scientific information, shall be such as to further their independent national development and shall be based upon respect for their sovereignty over their natural wealth and resources.

7. Violation of the rights of peoples and nations to sovereignty over their natural wealth and resources is contrary to the spirit and principles of the Charter of the United Nations and hinders the development of international co-operation and the maintenance of peace.

8. Foreign investment agreements freely entered into by or between sovereign States shall be observed in good faith; States and international organizations shall strictly and conscientiously respect the sovereignty of peoples and nations over their natural wealth and resources in accordance with the Charter and the principles set forth in the present resolution.

 

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