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$Colombia and Latin America
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Ambatovy lateritic nickel mine, Madagascar workers on strike Sherritt International (S.to) has integrated nickel, oil and gas and electrical generating assets in Cuba. But this is about Madagascar off the south east shore of Africa. The Ambatovy nickel mine just reached 90% nameplate capacity and a union of mine-site workers went on strike about a week ago. Apparently, an ex-pat worker with an existing health condition was air-lifted to the Republic of South Africa. The workers are striking because they want the same benefit. There is already a small hospital with a doctor on staff on the mine-site. I would guess that the workers already receive excellent health care, but perception of 'fairness' matters. This is an interesting issue. I do not know much about this job action or the union in question but apparently so far the union has been non-violent. There have not been any incidents of political violence. Sherritt International is nickel focused. If you believe that nickel prices are going higher from the current 10-year lows, then Sherritt is an appealing albeit risky buy. Moreover, is it not the coolest thing in the world to invest in a company where some of the executive officers are barred from travel to the USA? Yet the company and partners were able to raise debt for a US$7B project all the same. You get to play the rebel and go up against 'the man' by investing in a company run by folks wearing nice suits and a tie. Long live free market capitalism and global financial markets! |
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