MinBane

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Archive for the tag “Guernsey”

Burundi: Rainbow Rare Earths Ltd (‘Rainbow’ or ‘the Company’) Admission to Trading on the London Stock Exchange (30.01.2017)

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Shareholders in the Rainbow Company:

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My letter to Jean-Claude Juncker on the proposed EU Army!

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Dear Jean Claude Juncker, the President of European Union Commission and former Prime Minister Luxembourg; you had a moment of glory or you might thought so honourable Jean-Claude.

I am just a member of EFTA by default as a Norwegian citizens and since my country isn’t a Member State; I’m sure in your opinion my opinions doesn’t exists because the ones that matters are the citizens inside the Union. Still, I want to write to you as citizen of the world and worried about you Napoleon complex and hereditary idea of stronger federalism of Europe. This happens in the same week the underlings of you doesn’t’ want to be accountable in the European Parliament; this are the Member States who has Members of European Parliament (MEPs). So with this in mind are these the men and woman who should be responsible for deciding warfare in the name of the Europeans when we can’t know how much they spend on the taxpayer’s funds while representing their states in the Union?

Well, I know I am trading waters now and sound a bit strange, but the hesitation on the matter is the inaccurate faith you have in the EU and their institutions. The general European is not there with you as the disregard for the daily life of European feels estranged from the boulevards of Brussels where you are stationed unless you commute from Luxembourg. That is not for me to judge. What I will more judge is the idea of a European Army!

European Army is setting the precedence that the 28 Member State’s will comply and accept to donate and keep the strengthen defence and military upkeep through the Union. That is also to connect the defence budgets and the military equipment production stronger in the EU. That must be put into the calculation. Not only keep a solidified borders as the Commissioners fear the Islamic Terrorism and the refugee crisis to the levels that Europe needs a bigger and wider army. That is controlled by the unaccountable MEPs and EU Head of States, the Consilium that will order this giant army.

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A unknown giant army that will base by the 28 member states and put a prerogative of the federal state controlled by Brussels, as they already have issued currency, bills and now a Army. So the missing piece for you is the army and king. Honourable Jean-Claude you are acting with spite and fear if you enforcing the idea of an European Union Army and Defence. That is not the sign of peace or collaboration Europe needs. Especially with the ways that Cyprus and Greece economy has been liberated and sold to foreign investors while the taxations are slimming even more with the policies from the Central Institutions of the EU.

With those acts of spite and diligent betrayal of common sense in the banking industry of Greece and Cyprus; not even saving but bailing out with the whole-sale of nations. That coming with effect of the Brexit recently, you want the unaccountable MEPs to run an Army from Brussels. Do you know how insulting that is the European people and citizens, Jean-Claude?

Can’t you just take control of the Eurovision Song Contest or something; make sure the trade-laws and negotiations between Member States are following the guidelines of the Brussels accords. The Union you currently abide to is a currency-union, free-movements of people and goods and ‘universal’ policies that they have to follow no matter which country you live in. In that sense an army is needed, but that gives powers to Union and something Europe not seen before.

We have had the NATO that many of the current members of Union are obliged to serve and follow the codes of the agreement. As much as the European States has co-operated in military unifications it’s been training and peace-operations that many of the Member States has participated in.

If you think it is healthy to have a giant army directed from Brussels than the powers of the Union is more giant multi-national state, federalism and centralized in Belgium than people might express wishes for. Europeans want their states to have power and keen that their representatives have power and accountability within their domain; if the Brussels thinks it is good idea to take the guns and ammunitions from Madrid, Prague, Vienna and Copenhagen. Than they will have to ask what their own armies are supposed to do? How are the pecking orders of the EU General and Danish General? Are the orders from Brussels trumping the ones of Stockholm?

An European Army is the answer to fatigue and gesture of complex gravitas as the European Member States deserves their sovereign and rights to defend themselves within the military alliances and military benefits the nations. If the EU thinks it is wise to counter this and control it centrally than they can initially take over all powers and make a EU Police. Then all of the law’s and orders will controlled by the Brussels under the new federal jurisdiction of EU Commission and the Consilium. That in the end will be voted over by the unaccountable MEPs in EU Parliament. So they can decide if the army need to invade or guard Gibraltar or Guernsey from the Pirate Bay.

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Let’s be clear Jean-Claude Juncker, the one man in Europe with clearly a Napoleon complex! It’s time to whine down and take a beer. It is time to render the times of not-so much peace in Europe and wonder what the EU has lost. What powers the EU has taken in times of Peace and less hostility. What kind of powers the centralized Brussels decrees are burdening the towns and villages of Europe that you never will put your foot in Mr. Jean-Claude.

The Army you propose to counter foreign invaders is absurd and worrying. The EU Army will only be beneficiary for a un-elected aristocrats who will use it to silence criticism and the citizens who disobey the command of Brussels. It will not be a defence organization that can be sustainable to keep greater powers out. This army will only cause frictions and be a power that can be used in Neo-Colonial affairs for the former European Empires to control their former colonies. This will not be an army for peace; it will create more bloodshed in the names of spoiled rich EU observers and their elites. Is that what you want Jean-Claude?

Your EU Army will not be a tool for peace, but for rivers of blood, for loss of lives and loved ones. For the concern of foreign dignitaries and their allies; this create a hatched hiccup of world order and the destination unknown as the EU Parliament who will obey the command of their leaders will send their citizens to wars for resources at one point or another as recessions and market-crash’s happen once in-while. It is just a matter of time before a legit war intervention becomes an excuse to export needed minerals to Europe. That is what the Army will be for right, Jean-Claude?

You should first implement the Federalism fully before pledging the idea and dream of multi-national army those bounds of future conquests and current problems as they want to have fortified walls and gates of Europe. If the EU Commissioners start to think of the EU as Rome Empire than he has also lost the plot as the twist and turns of the vague Union; if he wants the weak Union to grow stronger there needs more trust between Berlin, Prague and other capitals nota army to silence the ones who disobey. Does he want to be emperor… new royal lord of Europe instead of a possible statesmen; the greed of a man who forgot the principals and dynamic of Europe as he sits in the bureaucracies of Brussels. Peace.

#PanamaPapers: A little reflection on the reason why these operation exisist and thrieving on the Fortunate

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For those who have been surprised by the recent allegation and findings in the #Panama Papers that incites lots of politicians, the general elites and businessmen connected close to the governments. The money always talks, the money always moves and by any means possible.

For the wealthy and close connected they have the ability to forge networks and find businesses that earns coins on helping to move that money. But that is not for the ordinary people, as we pay a fortune to use RIA or Western Union to move between usually loved ones. But the Panama Papers are for whole other ordeal.

BVI Tax Evation

This here is for Tax Aviation’s and getting rid of extra burdens on the solid amount money they have gained. The persons and companies are set-up Shell-Companies to stack up money in British Virgin Island (BVI), Panama or Luxemburg. As this places doesn’t have that many inhabitance or sheep to earn money on, they earn tiny percentage on being “big-banks” for all kind of operations, while securing that the companies and persons involved can keep it discreet and silence. Until cover-ups like the recent ones shows the true color of the amount of money, that are dished away. The money that are stashed-away is millions upon millions of American Dollars; dipped away in a treasury chests that most economies would dream of having in circulation!

That should not be surprising as all of well-known government leaders are setting up and making it possible to have sophisticated economic systems that cross-borders for the benefit of trade; while these are used to ship the money from the places that have initially no taxes and programs that made up to build societies. This is also the places where they can have it without any concern, except some extra sunshine and a family resort at the beach, though I would not consider that in Luxemburg, unless suits and gas-stations are your thing.

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The business-men and government officials, even relatives usually walks around with that without problems for decades as the banks, and the legal advocates set-up this fixed businesses to secure the fueling of their money. The worst thing is the loopholes and the ways that this decisive methods to undermine the local public to create and secure more funds for already wealthy clients. Where the bank as HSBC and lawyers of Mossack Fonseca divided fees to pocket the money that the client needed to send away from the shores and country-sides; where the money was raised and earned. While getting away from local agony of having fortunes and paying taxes on the high-incomes earned to the local communities.

If you we’re shocked of the values and the persons that was involved in the scandal of late, I wasn’t as the government officials, presidents sons and daughters; kin and other close connections have always gained extra through the cronyism or nepotism have been a thing since the Roman Empire, and does not stop any time soon. That the President Museveni of Uganda owns businesses and would have dashed a fortune for his grandchildren in an tax-haven through multiplied shell-companies. The same would not also be surprising on the Kenyan President Kenyatta who recently brought Sameer Diary and Livestock Limited who sells ‘Fresh Diary’ in Uganda through his company Brookeside. Surely his kins and family have some money abroad to secure in dire times might come. The same is certainly with President Kagame, who even been seen during the scandal that RPF-Elite men have been insiders in the scandal, as President Kagame have control and ease over it; surely he would skim over the top and gain some extra funds as the Executive. Similar is it in Democratic Republic of Congo where President Kabila sister is central profile in the scandal and shows how the monies and funds appear in tax-havens as she owns businesses and also the centralized economy around nepotistic and cronyism. Something that should not  be shocking for anyone.

Hard to Hide

What this scandal shows is the amounts and estimates, this is through to major companies who serves this clients that are close by this totalitarian and big-men leaders who have close connected with central industries as they have to be granted and get contracts with government to drill oil, mining or even gain markets in the countries. With that power comes also embezzlement, kick-backs and percentage of the top that get skimmed through the advanced economic products that the blue-collar lawyers and bankers offers; they do that legally, but in a moral grey area as this thieving of government controlled funds in the name of the beneficiary or the shell-company in discreet secrecy. It’s not only dictators and their wives who are into it, I am sure if it wasn’t for the failed ‘Wonga Coup’ Mark Thatcher would still be up to game as the son-fallen from grace and proud family tradition; as even David Cameroon have been put into the mix. There is no shortfall when it comes to greed, and corporate greed never stops.

As the world leaders tries the best to hide their businesses and ownership through shell-companies and strawmen, or getting a cousin to run the business kind of like what Trump does to his son, just a little more subtle.

Human Being

The governments are taking the sides of happy uncles as they all tries to open trades with tax-havens to keep businesses in their countries. The Companies who in many countries are seen as “Legal Person” can own land, own other businesses and be sued. Certainly with that power as stakeholders and shareholders does not care about other things than the bottom-line, they want to sell or sell enough services so that their earning a profit, by any means. That is why big businesses have been taken for tax-evasion in the UK this was Amazon and other online-retailers as they we’re officially legal unit in a tax-haven and not in the United Kingdom, though the products bought on Amazon was sent from a warehouse in UK, and sent to UK houses. The transaction between costumer who got the book from Amazon payed to a British account, but before the cash kissed the taxation to the Government of UK, it was sent to multiply Amazon shell-companies before ending at a Tax-haven. So that the United Kingdom get only pennies in tax compared to the Pound Sterling the UK state was supposed to earn from the Amazon LLC. That is just an example, but still important as a precise maneuvers the companies and international companies do, so they does not pay full-taxes or truthfully through sophisticated economic programs and revisions get the monies through foreign banks and tax-havens with help of legal teams in companies similar to Mossack Fonseca.

Scrooge McDonald

How to set up shop:

The LLC and Shell Companies will be used in market strategies as ghost straw-men for the owners sending monies through networks of intricate syndicates and money-laundering operations; That make Uncle Scrooge or Scrooge McDuck wishing he was a real person and not a cartoon character made up by Carl Barks in 1952; instead he is owning a Oil Company drilling oil in either Kazakhstan, Nigeria or North Dakota. Where he got the proceedings through UBS AG or HBSC; where the profit gets through manufactured holding companies and sent to BVI or Guernsey; where the McDuck Oil Company has headquarter, by official paperwork. That paperwork is written and made by lawful actions through Mossack Fonseca; while most of the Blue-Collar men are working in the unofficial Headquarters in the heart in the City of London or New York. But their taxing is little or near none there, because of McDonald Oil is fixed in Guernsey; Where they only have a Post-Box at the island; which by my reckoning would forward the mail to London or New York as the employees would actually be there.

This is a way of getting the bottom-line and the more of the ends directly to the stakeholders and owners of these companies tries to advance with this opportunities, that we the ordinary citizen, commoner, person or fellow human being would not be offered, since we don’t have the money to fix this or hire these men to forward our money, as we need the cash we have to get a home rent or buy, get food on the plate, pay electricity, airtime, taxes and then trying to get a chocolate bar once in a while. There is where we are. The once who was surprised about these papers have had too much faith in their rich, the elites and the once who has fortunes. They do not want to share that fortune that they have earned on our governments and our consumption; while trying to avoid giving something back to society, and giving the government more funds to develop the society the rich are doing business in. Peace.

Burundi – Under the Rainbow

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There isn’t everyday are Rare Earth Mineral site get a different companies from all over the globe into action. This didn’t happen today. Still it’s worth researching and doing background checking. I wish I had all the pieces to the puzzle. I miss the contract or agreement between the Government of Burundi (GoB) and Rainbow Rare Earth Limited. Not that had seen the one between Southern Crown and GoB. This story will be what I have had the ability to uncover at this point. Hope you will enjoy.

Pre-Rainbow:

In 2011 February update from the Australian based mining company was awaiting cabinet approving in the Burundian Parliament, even with being approved by the minister at the time. The Australian company was Southern Crown. The license was to be for the area called Garaka Project in the Garaka and Karonge. The area is a area filled with REE (Rare-Earth Minerals). By the 2010 prices they estimated that the Ore in the area with carbonated REE was valued up to $5169M (Southern Crown). Two years later on the same company Southern Crown did release on 27. April 2012 they shut down the Garaka Project because of cooling of the rare earth market and also funding (Southern Crown2).

So this happen and the business on the ground of Garak Project went sour when Southern Crown went through with business in mining in Zambia instead of Burundi. To give an issue on how business deals are set in Burundi. After that I will tell you the timeline for the new companies on the ground. Look under timeline:

International Crisis Group reported in March 2012 how the agreements were between companies and the Burundian government:

“The allocation of mining and oil concessions also poses a problem. Under previous regimes, consideration of applications for mining exploration permits was entrusted to experts and an inter-ministerial committee, which reported to the Council of Ministers. However, this committee has not met since the CNDD-FDD came to power. The contract to exploit the rich nickel deposits in Musongati in eastern Burundi,71 which could amount to 5 per cent of world reserves, was negotiated at the highest level and in the greatest secrecy.72 Permits have since been granted in a non-transparent way: although licenses are granted by presidential decree on the proposal of the appropriate ministry, as in many countries, applications for exploration and exploitation are handled by a committee restricted to the presidency before being presented to the Council of Ministers” (International Crisis Group).

Timeline – Under the Rainbow:

President Pierre Nkurunziza was the Chairman under the Cabinet Meeting the 25th February 2015 where this was the outcome on the matter:

“The Rainbow Company has received the exploration permit for REE and related ores in May 2011 on Gakara perimeter and that permit was renewed in July 2014. After three and a half years of research, the company filed a feasibility study containing the entire technical and economic requirements for the exploitation of reserves located in an area of 39 square kilometers contained in its prospect perimeter measuring 135 square kilometers” (…)“The exploitation agreement was the result of a consensus between the Burundian technicians and those of Rainbow. The company plans to produce 5,000 tons of rare earth ores per year, with an investment of 7.7 million US dollars” (Council of Ministers).

On the 8th April Rainbow Rare Earths Ltd. could announce that they got funding from Pala Investment Limited to do develop the Gakara project. The financing they got to was up to $12M. The first stage of the project is use $6M in a 6 month period to get the trial mining starting. Second stage is to get the capital and get more effective mining. The Pala Investment Limited has an option if the phasing up more loan to another $6M to build and facilitate infrastructure on the site of Gakara Project. Martin Eales commented on this saying: “We are very pleased to have secured this investment from Pala, who will provide both financial and technical advice and will be a valued partner going forward. Their detailed due diligence and subsequent participation provides significant third party endorsement of the potential and quality of our project.” (…)“With the recent approval of the Mining Licence and Mining Convention from the Burundian government, we can now make rapid progress, and I look forward to reporting on further developments in due course” (Rainbow Rare Earths Limited).

If you wonder where the monies for the loan is from it’s from the independent London based Chrystal Capital Limited Liability Partnership (LLP). “The financing agreement is for an investment of up to US$12m, subject to the completion of certain milestones, which will fund the project through to full production” (Chrystal Capital).

So for you who can read can see that the funding from Chrystal Capital Partners is the initial loaner of $12M who will be used on the 2 first phase, that supposed to be spent by Pala Investment Company. Pala Investment Company is financing Rainbow Rare Earth Limited who also happens to be a subsidiary of Pella Resources Limited, who also happens to be a subsidiary of Pella Resources Limited, who is actually the mining-company on the Gakara Project. So the Monies are going from London (Chrystal Capital) – Switzerland (Pala) – Guernsey, UK (Pella Resources Ltd) who happens to run the subsidiary Guernsey, UK (Rainbow Rare Earth Limited). Well this story has not ended.

On 14th April 2015 the German Company of ThyssenKrupp Metallurgical Products signed an agreement with Rainbow Rare Earth Limited to sell their resources and future production to the German counterparts. Kai-Norman Knötsch who is a Chairman in the Management Board of the company commented: “We look forward to successful cooperation with Rainbow Rare Earths. As the exclusive marketer of these high-quality products, we will have the opportunity to strengthen our customer relationships long term and gain further market share around the world” (ThyssenKrupp). This will secure the economic and the future of the Garaka Project. Since the Germans will buy the RRE from Rainbow (Pella) who then can pay the loans for the funding to Pala and Chrystal Capital. Do you follow me?

This is how it is so far. I wonder how it will go and how reports on the ground will be. And if the agreement between Rainbow Rare Earth Limited and the Government of Burundi will ever surface and come into light again. If so a brother wants to read that one. In the meantime we have to wait on reports on the earnings on the mining and how that will be spent in the country. That can be exiting read as well. Peace.  

Reference:

ThyssenKrupp – ‘ThyssenKrupp Metallurgical Products signs offtake agreement for rare earth elements’ (14.04.2015) Link:  https://www.thyssenkrupp.com/en/presse/art_detail.html&eid=TKBase_1428993710593_117572636

Chrystal Capital – ‘Chrystal Capital raises $12 million for Rainbow Rare Earths’ Link: http://www.chrystalcapital.com/chrystal-capital-raises-12-million-for-rainbow-rare-earths/

Rainbow Rare Earths Limited – ‘Funding secured for the development of the Gakara Rare Earth Project in Burundi’ (08.03.2015) Link: http://www.pala.com/images/media/44_Funding%20agreement%20with%20Pala%20-%20Final%20-%2008.04.15.pdf

Republic of Burundi-Council of Ministers – ‘MEDIA RELEASE CONSECUTIVE TO THE CABINET MEETING HELD ON WEDNESDAY 25TH OF FEBRUARY 2015’ (26.02.2015) Link: http://www.burundi-gov.bi/IMG/pdf/cabinet_meeting_three-1.pdf

Southern Crown – ‘February Company Update’ (02.2010) Link: http://southerncrown.com.au/joomla/images/announcements/pp.pdf

Southern Crown – ‘MARCH 2012 QUARTERLY ACTIVITIES REPORT’ (27.04.2012) Link:  http://www.infomine.com/index/pr/PB503217.PDF

International Crisis Group – ‘Burundi: A Deepening Corruption Crisis ‘(21.03.2012) Link: http://www.crisisgroup.org/~/media/Files/africa/central-africa/burundi/185-burundi-la-crise-de-corruption-english.pdf

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