Challenges for Bre-X Minerals in Indonesia Bre-X Minerals Ltd. faced numerous challenges in 1996, largest among them being the potential loss of the majority stake in property that could yield upwards of 100 million ounces of gold. The Indonesian government was threatening to redistribute ownership of Busang, the mining region in which Bre-X had property rights, due to its fear that Bre-X was a short-term player not serious about extracting the gold or a long term commitment in Indonesia. These fears were justified given Bre-X’s small size (it had a net loss of $Cdn. 366,677 in 1995 compared to a net income of $Cdn. 218 million from Barrick Gold Corp., a potential government-corporate partner) and limited connections within the …show more content…
The Indonesian government has shown, through its interactions with Bre-X, that it is easily influenced by the demands of President Suharto’s family and by pressures from respected individuals. For example, the Barrick proposal received endorsement from the government only after Barrick hired Suharto’s daughter (Tutut) and encouragement from former U.S. President George Bush and former Canadian Prime Minister Brian Mulroney. Despite making an alliance with PT Panutan Duta in late October, Bre-X was late in recognizing the importance of relationship building in conducting business in Indonesia. With only eight days to negotiate the deal with Barrick, Bre-X does not have time to develop the necessary connections to succeed in Indonesia without a competent partner. Strong property rights are an essential component in any successful market economy. Although Indonesia has regulations regarding mineral exploration and extraction, the government has found ways to manipulate the regulations to best serve its interests. Making it through the various stages of mining approval requires complex paperwork and numerous negotiations with various government offices. Bre-X had navigated this system and received a Contract of Work (CoW) to mine the Southeast Zone. However, after Kuntoro Mangkusubroto declined to revoke Bre-X’s CoW, Sudjana had transferred the
The novel River Of Earth by James Still is a story about life in e Appalachia just before The Great Depression. The story provides a very clear description of the problems and challenges the mountain people faced after the settlement of their land. Even though the novel is shadowed by other writings of the time period dealing with poor southern life, it is still considered a great neglected masterpiece.
Rain of Gold, is a true story about the history of Mexican people, their culture, traditions and customs that were passed down from the Euro-Indian heritage of Mexico. Rain of Gold was written by Juan Villasenor in search for his ancestral roots. The people of this story are real and not fiction. The places that are discussed are true. And the incidents did actually happen to his family. There are several underlying themes that need addressing. Such as: the importance of family, the importance of religion and spiritualism, woman as center of home and family, respect--protection of woman's virtue; ideal of women as pure, power of the woman--the mother, being a man-man as protector of the family, pride of man to be a
Ancient river valley civilizations are one of the earliest societies in the world. The rises of these ancient river valley civilizations started the first cradle of civilization. The Indus Valley Civilization, Ancient Egypt, Ancient Mesopotamia, and Ancient China are the earliest civilizations that were successful enough to make enough food for everybody. Every one of these civilizations had three things in common: they all had a special relationship with the river, they created their own writing system, and they all relied on trade.
Complied during the Warring States Period, the Daodejing is widely known as one of China’s famous philosophy literature. This text reflects the general lament of a civilization that has been worn down from war and seeks to find peace by teaching people how to live by “the Way”. From a war-torn perspective, the Daodejing deems war and government corruption as evil and traces them back to greedy and power-hungry motives. As a successor to Confucius, it still carries some of his ethics. Because of its mystical overtones, it has acquired a large variety of interpretations. Its main teaching is if a person does nothing, then peace will be restored; it is the concept of non-action or 无为。When a person does not try to interfere and allows things to
WEST ELMIRA (WENY) - Multiple agencies throughout Chemung County are working together to make the Chemung River safer for paddlers and anglers.
4. Should Lincoln go ahead with its investment in Indonesia? If so, what should be its entry strategy with respect to
During the outward-looking rule of China's Tang dynasty (seventh-ninth century C. E. ), sophisticated people in northeastern Iran developed such a taste for expensive, imported Chinese pottery that they began to imitate it in great quantity for sale to people who could not afford the real thing. And in northern China there was a vogue for beautiful pottery figurines of camels laden with caravan goods or ridden by obviously non-Chinese merchants, musicians, or entertainers. Non-Chinese camel figurines found in Mesopotamia carry loads that duplicate the distinctive appearance of the loads on the Chinese figurines. So it is clear that by the time of the rise of Islam in the seventh century, contact across the Silk
The Chinese people have experienced rapid change, in government and culture in the 20th century. Although the common people seemed to have risen up against oppression from the ruling class, liberty and equality often remains out of their grasp. For centuries the dynastic cycle has dominated the culture and collective consciousness of the Chinese people. This process is characterized by unification, followed by prosperity and success, followed by corruption and instability, and finally rebellion and overthrow. This gives way to a new dynasty that was said to have received the mandate of heaven. This cycle, in some ways, ended with the fall of the Qing dynasty. This marked the end of over 2000 years of
Ang Lee’s Crouching tiger Hidden Dragon is probably one of the most successful foreign films to ever be screened in America. Being the number one film of the year in 2000. On the other hand it was reportedly considered a flop in China. While it was influenced by American film styles, it still kept true to many aspects of its Chinese film heritage. With very apparent love story, it lacked the Extreme amount of Kung Fu fight scenes eastern audiences have come to enjoy. This is a stunning love story between a monk and widow. While it does have its share of over the top fight scenes, when you start to dig deeper the films many social implications become apparent. With ties to subjects such as religion, martial arts, philosophy, love, and even gender issues. This film is a representation of the modern era and how long practiced traditions are being challenged. Each character and plot line allows a glimpse into the Social and Traditional understanding of a culture.
Yiyun Li’s collection of short stories in Gold Boy, Emerald Girl share the common theme of loneliness in a collection of short stories: “Souvenir,” “Sweeping Past, and “A Man like Him.” While the characters of each story encounter different hardships and tragedies, each character seemed to show development. At first glance, they seemed to have grown from their experiences. However, they eventually fall into a downward spiral of regret and sorrow after having epiphanies of their mistakes. The identifiable protagonists’ grief-stricken experiences dramatically shift their perspective, becoming hopeless in the harsh reality they have grown accustomed to.
Through comparing different translations of the same texts one can get an idea of the meanings for the Chinese words used by Chuang Tzu in his work. In comparison to the English language the difference in the translations of the text gives the impression that the Chinese words used are much broader terms and must be simplified before we can describe them in English. This paper will assess the second section of the Chuang Tzu, specifically Discussion on making all things equal translated by Burton Watson.[1]
In the 1957 film classic The Bridge on the River Kwai, Lieutenant Colonel Nicholson accepts torture through isolation rather than allow his officers or himself to be used as prisoner of war (POW) laborers along with his men (Spiegel & Lane, 1957). His refusal to compromise their Geneva Convention protections in the face of Japanese pressure presents us with an interesting ethical question: to what end does a leader continue to cling to his/her rights as a POW? By closer examination of the duty of a POW and the role of leaders in captivity, it can be argued that LTC Nicholson did not act in the best interest of his men.
To create a competitive advantage, a mine has to properly manage its exposure to gold price fluctuations. This is not an easy thing to do since there are so many factors to consider: when, how much, and how to hedge the gold production. Firms in this industry differentiate themselves based on the risk management strategies they implement. Furthermore, mines should also be able to minimize the cost of gold production along with making large sunk costs. Operating in
Rio Tinto is a multinational company that deals with mineral and metal mining, refining, processing, and marketing. Founded in 1873, this Australian-British company has grown into one of world’s leading mining and Metals Company, dealing in aluminium, copper, diamonds, coal, and iron ore. Refining of bauxite and iron ore are also part of its operations. The transformed metals and minerals give Rio Tinto access to markets across a diverse economic development spectrum, and exposure in varied sectors, including
1. What is the strategic position of Baosteel and what are its motives for negotiating a three-way cross border, cross-shareholding alliance?