There is no dispute in the Horn
  
Presse Release
SC/8023
SECURITY COUNCIL EXTENDS MISSION IN ERITREA, ETHIOPIA UNTIL 15 SEPTEMBER UNANIMOUSLY ADOPTING RESOLUTION 1531 (2004) 12 Mar 20
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Canadian mining firms in Eritrea victims of ‘Third World policy’?            

2004-09-23 - The Vancouver Sun reports in a Canadian Press dispatch Thursday that gold-mining companies whose shares plunged early this month over troubles at their Eritrean properties say they still have no indication when they can restart exploration projects in the East African country. CP's Nancy Carr writes that the government of Eritrea has so far refused to explain why it ordered Quebec-based Northern Mining and three Vancouver-based miners (Nevsun Resources and juniors Sanu Resources and Sunridge Gold) to halt their operations in early September. And despite personal visits by the miners' executives to the capital, Asmara, the companies have been unable to tell shareholders what is going on. "I don't think it's [the miners'] fault," said John Ing, president of investment firm Maison Placements Canada Inc. "It's the problems of dealing in Africa ... and it's unfortunate for investors, but it's the risk of working in these Third World countries -- you get Third World policies." Those policies usually revolve around money and can include everything from bribery to increased taxes after a contract has been signed. "Investors will, unfortunately, vote with their feet," Mr. Ing said. Stockwatch.com

 

 
  
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