Soumitra
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- Jan 11, 2011
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I never said companies are corrupt. You keep on saying they are corrupt and do illegal mining. I fully support the rights of corporation to do mining and help the economy of the country.Illegal mining is robbing them and they are not getting the real share and profit . Are you saying that there are no companies which will give them fair deals and all the companies are corrupt ? The local community must receive a sizeable share of the royalty from any mine and the royalty must be linked to the globallytraded price of the mineral, and not some arbitrary rate charged by the miner in its first sale, mostly to a related party.
Why must local community receive "sizable" share of profits? They are not taking any risks why should they get the returns?
If they want "sizable" share they should start own company, take a risk, make an investment and start mining. This way they will get the returns. No body is stopping them. Other way is that they can buy the shares in the Mining companies and enjoy benefits as a shareholder