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Old 01-15-2013, 12:23 PM
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Default France, Mali & Gold



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Anyone else been tracking the events in Mali and wondering why France is so interested in a poor African country? I went here:
http://en.wikipedia.org/wiki/Norther...0%93present%29

And there's no mention of the fact that Mali was a French colony, and no mention of the word "gold".

It turns out that Mali is quite rich in gold (http://www.mbendi.com/indy/ming/gold/af/ml/p0005.htm) and some of the "western" companies operating there have some poor human rights reputations (for example, http://en.wikipedia.org/wiki/AngloGold_Ashanti). Human trafficking, kids working the mines, etc.

Anyway, I wasn't sure whether this belonged in the political forum or here, but is there a financial angle to how this will effect gold prices? Evidently they're the third largest producer in Africa. Overall speaking:

"In 2008, AngloGold produced 4.98 million ounces of gold from its [overall] operations"
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Old 01-15-2013, 12:36 PM
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Hmmm...very interesting since Germany stated today that it will remove all the gold it has in France and bring it back home.

Gearing up for WWIII??
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Old 01-15-2013, 12:52 PM
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France needs the gold... they are pretty insolvent from a sovereign debt standpoint...
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Old 01-15-2013, 12:54 PM
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Yay for France! More killing for resources!
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Old 01-15-2013, 01:26 PM
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The colonial wars of Africa never really ended, they just went from direct control to collaboration governments...
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Old 01-15-2013, 02:07 PM
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Sounds like some countries might be prepping for a financial collapse, doesn't it?
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Old 01-15-2013, 03:40 PM
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It could be that a number of countries (ourselves included) were interested in regime change in order to "get a better deal" on a particular resource (oil, gold, etc.) with a new government. Or could it be that these huge mining concerns backdoor-lobbied the French government/taxpayer into involvement? The question will be whether gold fix goes up or down, or whether the mining companies (some are publicly traded) go up after the dust settles and a new government is stablized... One thing is most likely, though -- it will remain one of the poorest countries in the world.

Evidently when gold was discovered in SA before the Boerr War, that government was extremely worried and already knew the consequences (war). Sometimes it's best for the locals to not have anything of interest...

But there's no way to explain rich gold reserves + rampant national poverty without talking about despots, puppet governments and neo-colonialism...
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