SUPPORTING HAITI ECONOMIC DEVELOPMENT VIA ITS OWN RESOURCES
BACKGROUND INFO, IMPORTANT NOTE, PRODUCTION HAITI INVESTMENT STABILIZATION FUND (HSIF)
CASPER, WYOMING, UNITED STATES, August 21, 2023/EINPresswire.com/ — Resource Générale Corporation, a U.S. Registered Company under the State of Wyoming herein refers as ( “RGC”) formerly known as VCS Mining, Inc. is pleased to provide an updated status of its mining claim Morne Bossa in Haiti located in the North of Haiti under its wholly owned subsidiary Haitian registered Company Delta Société Minière S.A. (DELTA) here together referred as the (Company).
Delta is a Registered Haitian company under the law of Haiti who held a mining exploitation license in accordance with the “CONVENTION MINIERE” published in the Haitian le Moniteur.
Current state:
On December 21st, 2012; Delta received an exploitation permit after providing the feasibility study in accordance with the Haitian mining law as the key conditions to obtain a mining license. Within weeks of the permit issuance, the Director General of the “Bureau of Mines (BME)” at that time issued a letter to the Company to halt the permit, stated such request has been pushed directly by the current Prime Minister, after immediate legal intervention, the letter was withdrawn.
Subsequently and incongruously, a meeting was held by a by senators in January 2013. A publicized communication was issued on February 20, 2013, signed by 3 Haitian Senators (Simon Dieuseul Desras, Steven Benoit Irvenson, and Joseph Joel John). Such publication was sent to the Executive Branch for approval. The Executive Branch never approved such publication.
Evidently, this was a tactical approach made to create negative public opinion, perception, and doubt, as well as creating media and investors’ confusions toward any development to the sector.
The Company have contiguously requested annually a certification and attestation validation from the BME. The Management of the BME certified and attest “ The Exploitation Permit held by Delta since December 2012 remains valid and legal”. However, no “mining operation” work should be conducted until a review of the new law is ratified.”
The Company has agreed and abide by the BME’s requirement as the autonomic governing body of the mining sector.
Important Note: The Company has spent millions of dollars of development work (including but not limited to “exploration, drilling, testing, metallurgy, administration, operations, services etc.). The Company, together with its Partner companies and have spend over $10M USD to date.
In 2012, the Company stated, the mining sector is a major sector toward the economic development of the country which will help increase the GDP and attract foreign businesses. Such must be done transparently and responsibly. In 2012, the Company stated to the Government of Haiti, that its priority and goal was to ensure the proper framework for sustainable development of these resources which include environmental protections, appropriate define rehabilitation methods, transparency, and accountability.
The Board of Directors and Management of the Company have agreed upon production occurrence down the line, the majority of the “Net Revenue post EBIDTA” generated by the Company should be use in the following fashion by:
Creating the Haiti Investment Stabilization FUND (HSIF), The HSIF investments will be used as direct capital investment “key enablers” to provide solutions to address the immediate vicinity and near vicinity of the mining operations’ neighborhood key challenges toward a sustainable, and equitable program to support following sectors (Technology, Healthcare, Education, Urban Infrastructure development, job creations, financial inclusion and SME programs, Agriculture).
HSIF Fund Usage Estimated Assumption:
o Technology : 5% of the Fund would be used to provide readily internet access to schools, universities, companies to help enhance students’ access to technology and knowledge, as well as providing local businesses access to increase their communications, trade capabilities.
o Healthcare : 5% of the Fund would be used to support healthcare programs including cancer studies.
o Education : 5% of the Fund would be used to support education secondary education programs, vocational school programs, and innovation development programs.
o Urban Infrastructure Development:10% of the Fund would be used to support various urban communities’ development programs, including support for low-income families.
o Job creations: 5% of the Fund would be used to provide financial assistance of existing companies create sustainable jobs to the local communities.
o SME General program: 6% of the Fund would be used to provide small loans to local businesses, new businesses, and support entrepreneurship programs.
o SME Women empowerment program: 4% of the Fund would be used to provide small loans to promote women leadership business development and empowerment.
o Agriculture: 10% of the Fund would be used to support agriculture development, agriculture jobs, trade enhancement.
o Sport Programs: 5% of the Fund would be used for local athletic programs.
o HSIF Management and oversight: 15% of the Fund would be used to create a transparent, accountable team to oversee, manage, implement, administer, investigate, validate all funds delivered and ensure appropriate return on investment are obtained and reinvest properly.
o FUND Supplement: the remaining 35% of the Fund will be use as emergency assistance fund upon disaster or special programs that need funding.
Note: all investments regardless of its size will require the majority approval of the board.
The Company management clearly understands, the sensitivity of mining in Haiti. Upon production, the Company would explore the best Clean Mining approach to ensure safety to the people and its environment. It is clear this sector and resources have been a target by many (both foreign and domestic).
IMPORTANT DISCLOSURE
The Company’s management views are clear and concise; as a U.S. Company, we like to remind everyone, we abide by U.S. Laws and regulations above and beyond the U.S. Foreign Corrupt Practice Act as amended, 15 U.S.C. §§ 78dd-1, et seq. (“FCPA”) (https://www.justice.gov/criminal-fraud/foreign-corrupt-practices-act ) and (18 U.S. Code § 1831 – Economic espionage) and sabotage regardless of the location; we would like to reiterate that any threat(s) regardless of its form that may be poised to the Company its subsidiaries, its partner companies, its assets, its officers, directors, consultants will be immediately reported to the appropriate authorities and appropriate legal measures will be enforced publicly and transparently.
Sincerely,
Management
Resource Generale Corporation
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