[labo22]

Gold rush in Djibouti, but who benefits most?

Djibouti with population less than one million, it should take full advantage for its strategic position, modern ports, supposedly lucrative land lease with French and Americans military bases, and on top of that the newly discovered natural resource, well with proper management Djibouti should be well off from the rest of the region. Djibouti shouldn’t be heavily dependent on artificial foreign aids by mismanaging that we already have.

As we all know, there is no accountability as to where the money goes from the various intuitions and major contracts. The mediocre management style of Piggy is costing the average Djiboutian dearly. By now it’s obvious for the concerned parties, how poorly Piggy had negotiated with DP World and U S military base in Djibouti without any consideration of national interest.

The last contract with Stratex International (an exploration and development company focusing on gold and high-value base metals in Turkey, Ethiopia and Djibouti) is sham, the simplicity of the contact that satisfied the Djiboutian government is ridiculous to say the least, it even prompted one the Stratex negotiator to say “Stratex has been well received by the authorities in Djibouti. The license terms, and legal and fiscal conditions are competitive whilst the Minister and Secretary General of the Ministry of Energy and Natural Resources have also been very supportive”. This kind of statement is not what you expect from somebody that you are negotiating with, what suppose to be a very complicated national interest click here for the raw deal.

Strangely enough, the regime settled only 5% of the stake for any future earnings of its national wealth the same amount 5% for Don Gustafson’s Green River Geology company just for its discovery only and the remaining whapping 90% for Stratex, no wonder the owners of Stratex wasted no time to praise Piggy and his dodgy government, off course we know Piggy love to be praised and attention and as always Djiboutian people get wrong end of the stick.

By comparison turkey and Ethiopia didn’t just give a simple license with minimum possible interest as the case maybe in Djibouti. The other States foraged a Joint Venture with Stratex. For instance Partnership with Sheba is created in Ethiopia with properly negotiated contract click here

If the government of the day is looking after the national interest of all Djiboutian, at least it would have invested the license fee back to the project by creating a crown corporation, however that way the regime could have acquired more shares for the benefit of its citizens, but unfortunately the regime as always had already embezzled the license fee of the said project.

http://www.labo22.wordpress.com

1-down-3-2-go

Ce message a été modifié par labo22 - 21 octobre 2010 - 06:15 .

[king(1)]

is that you, labo?
there should be Odey Biiqey behind that sort of information: otherwise, you are really making a great progress. bravo!

[labo22]

king(1), le 25 October 2010 - 08:53 AM, dit :

is that you, labo?
there should be Odey Biiqey behind that sort of information: otherwise, you are really making a great progress. bravo!

King(1) for the crown


King(1)

First of all good to see you gain, we miss for while where have you been hiding?
Shame on you Mr. King, You’re having a doubt about 22, the one and only who use his real nickname!!. Perhaps you’ve been misinformed by my adversaries that I publish their names from time to time. Well as they say if there is will-there is way, but then again the information is there in the internet for free of charge. If Piggy tries to hide his incompetency the other parties are cashing-in more and more by posting in the internet to attract more investors for the give way wealth of ignorant government.
Thanks for compliment and please don’t disappear.

Cheers

[king(1)]

hi there!

You know I often disagree wit you on the way you handle things particularly when you talk politics…when you just simplify the whole issue to say IOG is responsible for everything misfortune or irregularity in our country. But I am with you when it comes to how we can protect the common interest of all Djiboutians and their right to take part in decision-making.

There is one thing that I would like to add here. . It is your right to get up and stand up for your rights and that of those you represent …but the pic with the above-mentioned article is not really helping you sound Impartial. To tell the truth here… it is another parade of pigs and dogs unfortunately.

NB. let's give that crown to those poor men and women who struggle for better life in quartiers and bidonvilles in Djbouti. May Eebbe help them to...!

[labo22]

If you single-handedly decide to issue a policy without ever consulting the concerned partie just like if you're managing your house hold affair. On the other hand image If the decision-making strategy is inclusive the concerned parties at least the share part of the blame if the outcome of that policy produces unintended negative result. You know the one-man-show with parallel government of the first lady Odette de Chihuahua exacerbating the already worst situation is a recipe for disaster isn't it?

The alternative avenue is there to explore if the regime is to listen its critics, the regime needs to take a bold decision and reverse the self-destructive policies. We think the regime needs to work with opposition group for the common interest of the nation as whole.

There has to be environment that fosters, mutual respect for these who wants the country to go forward and not committing suicidal mission. The integrity of the social contract should be restored immediately and the outrageous statement like " the country still needs me" ( its common advice that Piggy accustomed from his inner-circle who has to lose everything in-case...) must be retracted.

The opposition groups should unite under one banner and formally denounce any violent means of power-change, in-case of quick unexpected up-rise, there has to be contingency plan from the opposition groups to handle for when power vacuüm occurs.

The list of the reconciliatory tune goes on.....

what is your take on this ?

NB my Eebbei is your Eebbe S W and I think Eebbe S W deserves a proper tittle as we Agreed upon ealiter.

May Eebbe S W help us all

[king(1)]

I think there is a long way ahead to achieve what we are longing for in terms of democracy because, I believe, there has to be first a human development side by side with a durable economic growth in Djibouti. This takes time and effort to create a suitable atmosphere for this. To be realistic, a lot of progress has been done for the last 30 years. We have our Djiboutian teachers, doctors, nurses, intellectuals, well-trained politicians…etc I can say this is a tremendous evolution because having done all this in three decades is really a miracle in my point of view.

It is true that there should be some kind of re-assessment concerning our failure to create a strong judicial system that fights corruption in some areas but I think we still have the time and capacity to reinforce law to put an end to this.



peace.

[labo22]

Although we don’t see any achievement of worth mentioning for the past 3 decades or so, the only mega project we have here in Djibouti is the new Doraleh container terminal and that is an investment facilitated by Mr. Boreh .

It’s a vague statement to say “I think there is a long way ahead to achieve what we are longing for in terms of democracy” you only need to look south of the border, our new neighbour the self-declared Somaliland , I think you need to be reminded their trademark “If I can do it from scratch..... You can it with your institutions “and also remember the unofficial statement of the President Silaanyo “anything less what we have accomplished....... will be uncivilized”.

In Djibouti, it obvious that the regime is the number one obstacle of human development and sustainable growth, when you said “This takes time and effort to create a suitable atmosphere for this” I think you’re referring to the lack of well planned long term policy of the regime, the core problem for this is the combination of lacking well qualified civil servants , technocrats and highly centralized system of governments without proper procedure of every institution of the government ,in other word a chaotic contradicting presidential decree is the way of live in Djibouti.

For sake of comparison, Djibouti is lagging behind the self-declared Somaliland in every measurable human development index. You mentioned that well trained well-trained politicians, nurses, teachers.....Etc, the self-declared Somaliland has four universities in just 2 decades from the ashes ,the first one Amoud University, Borama, in 2007 just less than 7 years from the devastating civil war that is extraordinary accomplishment to say the least. In Djibouti however, Piggy inaugurated the first University Building in Djibouti after more than 3 decades just for campaign, it’s too little too late.


In Djibouti the main hospital looks like war zone, the unfinished construction-site (chantier construction) are everywhere you go, again the major construction contractor is Wilo Company own by eng. Abdi-jabar Forreh . Again in comparison Self-declared Somaliland has the best maternity Hospital with the best infrastructure THE EDNA ADAN HOSPITAL OF SOMALILAND by comparing this to DARA EL-HANAAN its comparing oranges with apples.

WELCOME TO THE EDNA ADAN HOSPITAL OF SOMALILAND

http://www.ednahospital.org/
Djibouti with proper government will have to work overtime just to catch-up with self-declared Somaliland, Mr. King we need to know the tremendous achievement that Djibouti has under Piggy’s hopeless administration.

NB You call A A Farah ( Ali-Dhoore ) a minister and well-trained politicians .... it is embarrassment to have him as minister and the rest all the rest of the cabinet ministers are more or less mediocre like him.

[king(1)]

YOU DO NOT SEE ANY ACHIEVE MENT

It is really disappointing to hear you saying « Although we don’t see any achievement of worth mentioning [/[b]b]for the past 3 decades or so, … » because it seems to me that you focus on the negative side on everything. I just want to remind you that Djibouti has succeeded to turn 180 degrees in those three decades to become, at least, a strong nation with modern institutions relatively. For example , we have done a lot in terms of human development because to move from a nomadic life in which people had no chance to have health care or schools to educate their children into a totally new era in which schools, hospitals, health centers are almost in every town and villages, is a huge progress.

I am not saying that everything is good or rosy. I am not also trying to look like defending the authority in our country. But these are facts on the ground that we have to bear in mind when we speak about what has been achieved and what has to be on on our daily planner to work hard to achieve it.
There is something that makes me get worried when I hear you and others from the opposition groups saying « Zero delopment in three decades ! » this is not really true. You know in Somalia there were a lot of people who fought against Siad Barré for they did not distinguish between what belong to Siad and the Somali State so followed that same tactics that you use now. They kicked him out of the country. They also put the a whole nation into ruins.

As for that comparison of Djibouti to Somaliland, I would not agree with you on it for a very simple reason ; it is unfair. In Somaliland there no strong governmental intstitutions that function to offer public services and the question of democracy is for naive people to believe it ! Silanyo took over the power because this was his turn to become president in order to avoid any clash in the tribal equation there.

Having said that, I would like to salute people of Somaliland for their commitment for peace and stability in their country. A big bravo to them and to those unkown heroes who help them in this.

[labo22]

Stratex profit has surged more than 200% since the last time we have reported, mainly because the regime entrusted whatever little natural resources that the country has to Stratex.

Citation

Stratex International PLC (LON:STI) said it has found new gold mineralisation at its Afar gold project straddling Ethiopia and Djibouti, highlighting the potential prospectivity of the area as an emerging epithermal gold province.

The 3,853 sq km Afar project comprises five Exclusive Exploration Licences (EELs) in the Afar region of Ethiopia and six EELs in the Republic of Djibouti.

Exploration at Afar is currently being funded by joint venture partner Thani Ashanti Alliance Ltd, an AngloGold Ashanti Ltd (LON:AGD, ASX:AGG, NYSE:AU, JSE:ANG) JV.

Stratex discovered new gold epithermal mineralisation within the Tendaho EEL in Ethiopia, extended mineralisation at the Asal EEL in Djibouti and it identified a new target within the Dimoli Khan EEL in Djibouti.

Executive director David Hall said: "To date, Stratex has made five early-stage epithermal gold discoveries in the Afar region, which highlights the potential prospectivity of the area as an emerging epithermal gold province.

"The most recent gold discovery, the Akehil target within the Tendaho EEL, … is some 9 km south-west of our original Megenta hot spring discovery. When sampled this float material returned 14.0 grams per ton gold, which is highly encouraging and illustrates the potential for high-grade veins to be discovered in situ. Follow-up work will be undertaken on the Akehil prospect alongside the 3,000 metre drilling programme at Megenta, which is due to start soon,” he added.

Ce message a été modifié par labo22 - 21 avril 2011 - 02:16 .

[labo22]

Stratex shares are flying high, lately it has been making headline news on international market place ,with 52wk Range 2.90 - 10.50 that is whopping 262% profit , Piggy would have been making an extremely large profit had he invested only the license fee back to the tratex IPO.

Ce message a été modifié par labo22 - 23 mai 2011 - 01:59 .

[labo22]

You can certainly say some dictators are more patriot then others like Piggy when you look how ISAIAS Afwerk of Eritrea had hammered-down the following deal ̶ in comparison of Piggy’s give away the Djiboutian national wealth.

Nevsun Resources Ltd, the Canadian based company is still in talks with the Eritrean government on the final valuation for a 30% stake that the government agreed to buy in Bisha. (It owns a total of 40%, including the 10% free-carried interest to which it is entitled under Eritrean law.)

Nevsun has indicated that the valuation should be agreed on by June, and Guy said he expects the adjustment payment will be around $300-million, to be funded by cash flow from the mine.

Ce message a été modifié par labo22 - 04 juin 2011 - 09:54 .

[labo22]

An Ethiopian and Chinese joint venture company, Makeda, last month conducted gold test production in its gold mine located in north Tigray. Makeda, jointly owned by Ezana Mining and Donia Beijing Resources.

Joint venture is the way that another dictator Males who cares his region Tigray (kelil # 1) of Ethiopia finds the best interest of his fellow countrymen, in comparison of Piggy’s policy of give-away the national wealth.

[labo22]

August 23, 2011

TORONTO – Nevsun Resources, which owns the Bisha gold mine in Eritrea, on Tuesday said the East African country’s government had agreed to pay $253.5-million for its 30% stake in the operation.

In addition to the 30%, Enamco has a 10% free carry stake in Bisha, giving it a total 40% ownership.

By collaborating with international companies, Eritrea is developing a mining industry that provides direct economic benefits, skill enhancement and supply chain expansion.

[labo22]

According to an article published by The New York Times under the tittle "Location Gives Tiny State Prime Access to Big Riches" Nikhil Bhuta, the chief financial officer for the JB Group, an Indian mining company told The New York Times, that if you need something in Djibouti, the government responds very fast, Mr Nikhil Bhuta also said that he had set up mines across Africa but never had he experienced such generous terms of business, like the deal he struck with the Djiboutian government to split gold profits 80 percent for his company, 20 percent for the government.

Djibouti is ranked 149 out of 177 on the United Nations human development index, which measures life span, education and income. Not only Djiboutian wealth was stolen by Djiboutian Enterprise managers like Ahmed Osman Guelleh-Arab, the current chief finance of Djibouti Enterprise but they also has been deemed non-skilled lazy people.

This is one of the main reason why Piggy Chief of Djibouti Enterprise is reluctant to easy his grip on power, he cannot survive one day in parliament with a true opposition scrutinising every foolish move of his Enterprise.

[labo22]

Djama Ali Guelleh (Ali Waraabe)

For the next three years Chief of Djibouti Enterprise is preparing his retirement and who is going to replace him , according to a interview that he gave an African news magazine, However, he forget to plan for his cronies like Djama Ali Guelleh ( Djiboutian Ali Waraabe) director of the Electrique De Djibouti (EDD).

What happens when operational manager like Ali Waraabe assumes tactical and strategic level of energy production management in Djibouti, electricity production remains erratic with increased electric power outages and extremely high pricing, and he always has to resort temporary patch up solution, like purchasing old used equipment from Finland, seasonal energy from Ehiopia and list goes on.

Yet again Ali Waraabe signed recently a contract with Aggreko to provide power and temperature control solutions to customers who need them either very quickly, or for a short or indeterminate length of time.

Aggreko share prices plummeted after London 2012 Olympic and Paralympic Games ended, in which Aggreko supplied the short term extra energy demand during the games. The investors stared to agitate without long term prospective, the managements have to find a new market for the existing equipments and study revenue to keep the shareholder content.

Aggreko managements quickly materialized a project that consists of an initial 5 MW package that suppose to be operational within six weeks from the date of contract signing. The remaining 52 MW was scheduled to be commissioned and operational within May 2013 just before summer hell.

The combination of a huge energy and lack negotiation skills put Djibouti at a disadvantage position. Aggreko is to charge Djibouti both for providing the generating capacity and for the electricity produced even if the seasonal electricity from Ethiopia is flow and alleviate the power shortage in Djibouti.

The news of potential customers (Djibouti and another Caribbean country) for Aggreko reported revenues and trading profit both increased by 13% - to £1,583m and £341m respectively - and the board is recommending an increase in the dividend of 15% to 23.91p per share.