BB, I agree. Award wage is a miserable AUD 140/month but less...

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09/03/18

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Post #: 31640611
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Originally posted by BarrenBuffett ↑

It is not only that.
Cokal is operating their mine in one of the poorest areas of Indonesia (and by that extensions of the world)

70% of their current workforce is local Dayak people and having a livelihood has huge implications for not just the 70 Odd people employed but also for the flow on effect it has on the supporting infrastructure.

The local politicians/influencers of the area also have had meeting with the management and have extended their support. While offtake remains the bottom line requirement for getting this done - having a social license to work in that area is equally important. I have put money in companies operating in Thailand etc and the government shut them down willy nilly because of poor relations with the locals. Cokal on the other hand have a good working base to build on and have been offered soft support from these local authorities.

this is the first mine to start in the region in the last 5 yrs - its a big deal

@dannyleb - heard anything new on production/barging etc ?

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BB, I agree.
Award wage is a miserable AUD 140/month but less than 50% have the luxury of drawing a wage.
I was in a company that was approached by Peter Lynch (different floor but same building in Jakarta) to assist with Community Relations. Dayaks are different people. Legendary head hunters of Borneo. If they get upset they revert to old practices.

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BB, I agree. Award wage is a miserable AUD 140/month but less...

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