The State of Mining in India
FPX Nickel (FPX), US Cobalt (USCO), etc.
I recently watched a movie Newton, a heart-wrenching story of exploitation and abuses of tribal people by the Indian government and its armed forces. Having been to that area many times, I have found the portrayal of characters very real. If you carefully watch the events and the characters in the movie you might understand several of the entrenched problems of India. Despite that the movie will horrify, sadden and anger you, the reality of the abuses tribal people face is much worse.
Dr Madhusudan Raj of Mises India reviews the movie here.
In the linked article in the Mining Journal, I explain the complexity—actually impossibility—of investing in the mining sector in India. I also discuss some of the same issues with Maurice Jackson here.
Indian mining sector is in the hands of the mafia, and extraordinarily corrupt and abusive bureaucrats, politicians and armed forces. Manufacturing revolution bypassed India, and Indian services sector is ridden with frauds, incompetence and crumbling institutions, something I discuss with Sunny Pannu of Minaurum Gold (MGG), one of my favorite companies:
Here are the names of companies that I mentioned during my speech at the just-concluded International Mining Investment Conference:
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