Thaksin advising PM, digging for gold

Thaksin said he spoke a few times a week, or more, to Yingluck – often on family affairs but also to advise on official matters.
“Sometimes when there’s a hot issue we talk more. Because I know the people, I know the law, I know international protocols. She is new. She doesn’t need to call me, but when she does, I can give her the answers immediately. Because I am sitting here doing nothing.”
Regarding his behind-the-scenes role in the party and policy, he is not shy.
“I am the one who thinks. Like our slogan during the campaign, ‘Thaksin thinks, Pheu Thai acts’.”
Forbes reported that before the interview, Thaksin had mixed with Thai tycoons and others at an evening event at the Forbes Global CEO Conference in Dubai.
A tycoon himself prior to gaining office in Thailand in 2001, Thaksin remains one of Thailand’s richest. Forbes conservatively estimated his family’s holdings at US$600 million (Bt18.5 billion) this summer, but he told the magazine that if he’s returned the $1 billion of funds seized by a succeeding government, that would substantially increase the wealth estimate.
Thaksin also said that soon after Yingluck took power in 2011, his Thai passport was restored and he has been able to travel widely on it. He continues to have backup passports issued by supportive governments such as Montenegro where he has property. He said he recently visited the US and was received by Henry Kissinger for a chat.
Thaksin confirmed reports that, through his Global PS business, he has invested “so far…about $30 million” in African mining concessions. These are for gold, platinum and titanium in Uganda, Tanzania and Zimbabwe, where exploration studies are in various stages of progress and could begin to be filed next month in prelude to a possible public offering. He said he is out of a troubled coal venture in South Africa.
Although these projects have arisen at the invitation of friendly leaders of the governments, Thaksin said his firm was not sharing investment stakes at this point.
“In doing mining, if you brought a strategic partner in the beginning you have no value… Because they are big and you are small. I am like a start-up again. Starting up at 60 is not fun. But anyway this is not serious for me. It’s a type of venture.”
Thaksin admitted that he knew nothing of mining going in, but said he has spurned other international opportunities in telecoms, the major source of his fortune. Returns in that industry no longer justify getting back into it, he said.