Uganda doomed - ca 31 million tons of gold ore found, value ~12 trillion US$ - Politics Forum.org | PoFo

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#15237035
https://www.tbsnews.net/worldbiz/africa ... usd-452806

Uganda announced that it had discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. [...]

Refining gold locally could enhance job creation, and improve social service delivery to those living close to where the mineral is extracted. Ugandan President Yoweri Museveni has called for the local refinement of the the commodity, calling any external refinery criminal. "It is criminal for anybody to argue for the continued exports of raw materials in Africa, when there is 90% more value in that product that you are giving to the outsiders" he said.


https://kenyanwallstreet.com/uganda-to- ... -deposits/

Uganda has announced that it has struck a deposit of 31 million tonnes of gold ore, with extractable pure gold estimated to gross 320,000 tonnes.

President Museveni provided little detail, pointing in general that it would fetch the country more than $12 trillion.



I think Uganda will find that the USA will soon figure out they have to bring "democracy" to the african country.
#15238512
They will not keep corruption at bay. This does spell doom for them, and it will be mostly their own doing.

There is strong correlation between how resource rich a nation is, and how corrupt its government is. There's lots of research supporting this point.

It is in fact, doomed, and the corruption is more likely to be encouraged by China than the West.
#15243759
Ugandan Governement ordered: "the gold has to be procesed from 80% to gold standard to pure in the country."

Just a Chinese company is processing it to chip grade gold 99.99% pure. Now Uganda has a bit chemical knowledge int the country. Uganda needs to attract with laws a chipproduction in the country (this can only the west offer), but also asian smartphone makers...

The Zuahelis are a presidents loyal army, it will not end like DR Congo.
..
Last edited by Skynet on 21 Aug 2022 08:23, edited 2 times in total.
#15243788
Sandzak wrote:Ugandan Governement ordered: "the gold has to be procesed from 80% to gold standard to pure in the country."

Just a Chinese company is processing it to chip grade gold 99.99% pure. Now Uganda has a chemical knowledge, they need to attract with laws a chipproduction in the country (this can only the west offer), but also chinese smartphone makers...

The Zuahelis are a presidents loyal army, it will not end like DR Congo.
..

Museveni is an (ex-)Marxist. He understands how international capitalism works. The real money is not made by digging the gold out of the ground, but by adding value later, by refining it. It’s whoever refines and distributes the gold who makes the real money. Just as it’s not the farmers who grow the stuff who make the big money from the drug trade, but the cartels who refine it and distribute it. It’s the same capitalist system governing both industries.
#15296301
Potemkin wrote:Museveni is an (ex-)Marxist. He understands how international capitalism works. The real money is not made by digging the gold out of the ground, but by adding value later, by refining it. It’s whoever refines and distributes the gold who makes the real money. Just as it’s not the farmers who grow the stuff who make the big money from the drug trade, but the cartels who refine it and distribute it. It’s the same capitalist system governing both industries.



Refining is simple the Romans knew this technique Aqua Regia

#15297681
Potemkin wrote:Museveni is an (ex-)Marxist. He understands how international capitalism works. The real money is not made by digging the gold out of the ground, but by adding value later, by refining it. It’s whoever refines and distributes the gold who makes the real money. Just as it’s not the farmers who grow the stuff who make the big money from the drug trade, but the cartels who refine it and distribute it. It’s the same capitalist system governing both industries.


It is always Africa and Latin America with the big finds. But they never get rich off of their own resources. I think it is time to strangle these greedy corporations and hit them very very hard.
#15297682
Tainari88 wrote:It is always Africa and Latin America with the big finds. But they never get rich off of their own resources. I think it is time to strangle these greedy corporations and hit them very very hard.

Industrialisation beats raw resource extraction every time. It’s not who digs the gold out of the ground, it’s who refines. If you have no industry, then finding huge quantities of raw resources on your land is not a blessing, it’s a curse. Just ask the Native Americans about that….
#15297684
Potemkin wrote:Industrialisation beats raw resource extraction every time. It’s not who digs the gold out of the ground, it’s who refines. If you have no industry, then finding huge quantities of raw resources on your land is not a blessing, it’s a curse. Just ask the Native Americans about that….


Mexico built an oil refinery because they had to send Mexican origin petrol for refining in the USA. They forced Mexico into that shitty deal. PEMEX had a total monopoly on oil and gasoline stations all over Mexico. But the other PRI presidents and PAN presidents Peña Nieto and Fox etc all signed deals to let the old USA gas and BP gasoline stations in to the Mexican market. Sellouts of the worst sort too.

It is an expensive endeavor to built oil refineries. Many complained. But if you have the USA holding you hostage with your own oil production because like you said you failed to industrialize? You are in a deep hole.

You have to be able to diversify your economy but develop it without having to lose control of anything of productive value in your society.

Puerto Rico is a case study on what NOT TO DO.
#15297687
Potemkin wrote:Industrialisation beats raw resource extraction every time. It’s not who digs the gold out of the ground, it’s who refines. If you have no industry, then finding huge quantities of raw resources on your land is not a blessing, it’s a curse. Just ask the Native Americans about that….


Again worker owned industries, worker decisions over wealth and tight controls on the plutocrats, the end goal is being able to create security and reliability with the majority. It can be done. But you got to discard old and obsolete models of trickle down crap Reaganomics that never worked. It did not work for Margaret for the working class in the UK in Margaret Thatcher's administration either. None of them give a damn about that group of people in any nation.

Just make sure that the working class have control of industrialization, sustainable development and their own goods and services, surplus value and they have infrastructure that is about being invested in the majority of the society and the common good.

They keep wanting these lopsided unequal systems that are wasteful and terrible Pote.

Why do they continue to believe some single individual super duper billionaire is the best system to make the society go forward? If the majority never get their basic needs met and have problems with living lives of dignity? It has to change. Why is that so hard for the Right-wing freaks to understand that?
#15297689
Tainari88 wrote:Mexico built an oil refinery because they had to send Mexican origin petrol for refining in the USA. They forced Mexico into that shitty deal. PEMEX had a total monopoly on oil and gasoline stations all over Mexico. But the other PRI presidents and PAN presidents Peña Nieto and Fox etc all signed deals to let the old USA gas and BP gasoline stations in to the Mexican market. Sellouts of the worst sort too.

It is an expensive endeavor to built oil refineries. Many complained. But if you have the USA holding you hostage with your own oil production because like you said you failed to industrialize? You are in a deep hole.

You have to be able to diversify your economy but develop it without having to lose control of anything of productive value in your society.

Exactly. But before you can do that, you need to have national sovereignty, and you need to have a ruling elite who aren’t sellouts and who are willing to invest in their own nation.

Puerto Rico is a case study on what NOT TO DO.

Puerto Rico was and is a colony. Their economic and social policies were decided for them by the USA, and they were decided in the interests of the coloniser, of course.
#15297690
Potemkin wrote:Exactly. But before you can do that, you need to have national sovereignty, and you need to have a ruling elite who aren’t sellouts and who are willing to invest in their own nation.


Puerto Rico was and is a colony. Their economic and social policies were decided for them by the USA, and they were decided in the interests of the coloniser, of course.


Yes, something that is hard to find. No sellouts? Very hard to find non sellouts. Once you find people who are not sellouts? The plot to kill them quickly happens with the US intelligence community. He is not buying our deal Harry, let us make sure he dies in a plane crash. Omar Torrijos. lol.

Puerto Rico will always be in that position until they finally wake up and realize that unless they gain control of their own national territory? And do for themselves and unite as one to get that accomplished the US government will never do what is best for the island.

Never.

Left to rot until further notice. Then the US government is shocked by violence and the ones doing the violence against the US government are TERRORISTS. Everyone is a terrorist of a government that is full of injustice, lying ways and crappy policies. That is life. You suck with your one way street advantages eventually you have to realize the blowback is coming your way.

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