Why isn't there any mines in Puntland?

[codewebsduh]

Puntland Government has a budget of nearly 300 million dollars per year. Why hasn't their been any mining in the state?

Furthermore is there any mines in the state?

 

[Mozart]

I’m guessing you mean mining for minerals. FGS refused in 2008. Range Resources were given all rights, didn’t find much on their first go, but were due to go back but the contract was termed invalid.

 

[codewebsduh]

I’m guessing you mean mining for minerals. FGS refused in 2008. Range Resources were given all rights, didn’t find much on their first go, but were due to go back but the contract was termed invalid.

I heard they failed after looking for oil in Puntland and only finding water.

I think they spent too much money on the first pipe and hence bailed, however they believed a high amount of oil was present.

Why isn't Puntland pushing for this?

It has similiar terrain to Arabia in Some areas and so we expect large deposits of oil.

 

[Mozart]

I heard they failed after looking for oil in Puntland and only finding water.

I think they spent too much money on the first pipe and hence bailed, however they believed a high amount of oil was present.

Why isn't Puntland pushing for this?

It has similiar terrain to Arabia in Some areas and so we expect large deposits of oil.

Yeah they gave up after three basins when it usually takes up to 15. It depends on the President and their ideas. I know Faroole cared a lot about those ‘resources’ but Gaas opted for a more connected Puntland with roads and infrastructure. Given the opportunity cost I think Gaas made the right decision.

 

[Xanibacal bin Barqa]

Puntland Government has a budget of nearly 300 million dollars per year. Why hasn't their been any mining in the state?

Furthermore is there any mines in the state?

source:
https://thediggings.com/som

 

[codewebsduh]

Yeah they gave up after three basins when it usually takes up to 15. It depends on the President and their ideas. I know Faroole cared a lot about those ‘resources’ but Gaas opted for a more connected Puntland with roads and infrastructure. Given the opportunity cost I think Gaas made the right decision.

Road and Infrastructure is fine but imagine the pay off from oil and mineral extraction. Long term the state can't survive on hotels.

Its why FGS is pushing for oil in the ocean to have consistent funds. I have noticed countries like Iraq begin with oil and grow based on that.