Us libertarians love gold! So I was wondering, has anyone here have experience in gold mining as a habit? I live on the east coast, and it’d be nice to find some place to pan for some precious metals or something.
Please share your experience! Anyone ever hit pay dirt?
I got to do with gold mining (i.e. in Zimbabwe). As if you want me to post more info.
Do you own a gold mine there? I was thinking about starting gold panning as a habit and was hoping where to go on the east coast (USA).
Tell me about your operation in Zimbabwe, i’d be happy to hear about it! You must be rich by now!!
I used to have a company that has mining rights for certain areas there (i.e. Kadoma, Shurugwi). We didn’t put this into operation, but we are looking to set that up again soon. There is panning in rivers of some areas, below where the reefs are. Somewhere I got pictures on crushing, milling, panning etc.
Wow, nice! How do you go about starting a mining company? Isn’t that really expensive? Do you know any other good mining area (what about in the US)?
For Zimbabwe you need local shareholders, register the company, get the prospecting rights, prospect and then apply for mining righst for a certain area. The problem is the capital outlay you may need. There is areas were you can work with panning, but in many cases you will need bigger, and hence more expensive equipment, for which you will need investors, if you do not have the capital yourself.
And of course if you turn a profit, you may be nationalized…
I hate to say it, but i think Matticus will probably be right…so how do you then protect your assets?
You just need to be careful about “showing profits” or just be good connected in the country. Guess what happened, when they tried to take a bigger cut from the miners in Zimbabwe…
What happened? Strike? Rebellion?
Sort of, but rather a silent one. The gold production (on the books) was decreasing to an all time low. At the same time I got more offers to buy gold then ever before.
I’ve been trying for a couple of months to get hired on at the Drumlummon Mine in Marysville Montana, company RX Explorations. Supposedly they mine more than 40 million dollars worth of gold, silver and platinum every day and they pay really well.
I have a lot of friends that pan for gold but not enough to make a living.
How did you go about starting a mining company? That appears to be a very difficult business to start.
Down here in South Africa the government claims the right to all natural resources, irrespective of one’s personal property rights. There is now also a growing faction within the ruling party to nationalize gold mining, which is concerning, but the way it’s set up now is for the benefit of the government and the big mining companies in any case.
Actually it’s not only gold mining and it’s not only a faction of the ruling party (Nationalisation is part and parcel of the ANCs program, despite what some people may claim. They should learn the difference between tactics and actual goals). I wanted to mention it earlier, but the ruling parties youth leader makes a clear statement that they wish to take without paying: