Wednesday 15 December 2010

Emed at last, but Spain is a un-capitalistic country

For a long time I have invested in EMED.L and finally today they are getting last pieces into place to re-open their Rio Tinto mine in Spain.

In many ways it is a sad story that EMED have had to wait so long as a big chunk of the process has been trying to overcome major corruption of interests in Spain. Landowners have held blocking sections that they have wanted to sell only for ransom demands and a local committee supposed to look after the community has been on their side for over 2 years; delaying the mine re-opening and the thousands of jobs that will go with it.

It shows just how difficult it can be to do business in Spain - good luck to BA merging with Iberia. I see their union is up for some more strikes over Christmas so they are certainly getting into the mood of Spanish practices.


James Higham said...

It shows just how difficult it can be to do business in Spain

Try Russia.

Budgie said...

This is "non opposition" to EMED's mine. Do you know whether 'approval' is now a formality, or does a business run a high risk of failing at the approval stage?

CityUnslicker said...

James - not doing that again after Sibir saga.

Budgie - never a certainty, but methinks this will be a done deal now.

Anonymous said...

Actually it's a ballot over Christmas, not a strike. The strike will probably be Easter!!

Old BE said...

It is worth remembering when doing anything Spain-related that it has not been a free and fair country for very long.

CityUnslicker said...

still I am in at an average of 10p odd. I'll eat my hat if it does not touch 40p sometime next year.

Anonymous said...

Too much copy & paste on here,lacking original thought.

Research copied from others & uncredited.
Show where you have taken the research from or provide links