Steve Pearce: “We will do more on this same subject at another time. In the closing minutes, let me talk about the hostility that we…”

“We will do more on this same subject at another time. In the closing minutes, let me talk about the hostility that we find against business in this country. Behre Dolbear publishes an annual survey entitled ``Ranking Countries For Mineral Investments.'' This survey ranks the 25 countries with the largest mining industries and/or the most significant mining industry potential. To establish the annual rankings, the survey considers seven criteria that influence investments by the mining industry in each of those 25 countries. These criteria include economic systems, political systems, social issues, permit issues, corruption, currency stability, and tax regimes. A review of each country relative to each of the above criteria is performed, using the general assumption that a technically viable mining operation is being considered in that country. The countries are then given a ranking from 1 to 10 in each category, with 10 being the most favorable. Recently in 2004 the USA scored well in economic systems and currency stability, et cetera; but it had a dismal ranking in the category of permit issues. This ranking is based on the time and expense required to get permits, not on stringency of regulations. In 2004, the U.S. had a numerical score of 4. That score puts the U.S. 19th out of 25 countries. The U.S. ranks below Peru, Ghana, Colombia, South Africa, Argentina, Canada, Brazil, Namibia and Bolivia. Only seven countries rank below the U.S.…”