Emerging markets expert Manraaj Singh names his #1 investment...

"I can’t believe that one of the biggest mines in the world looks set to re-open after twenty years... and not many people seem to have noticed," say’s Manraaj "It’s got 691 million tons of ore in there... and I’ve made an 84% gain on my investment already"

Small islands in the south west of the Pacific are about as far off most investors’ maps as you can get. But it is also home to one of the biggest profit opportunities you will ever see.

We recommended that you invest in this mine back in January 2005. Since then we have seen the shares gain by 84 per cent. Not bad considering that this company doesn’t really have an operating business these days...

What’s even better is that this 84% gain is going to look like a pittance if the company manages to restart its mining operations. The mine had to shut down its operations when an armed rebellion broke out on the island.

At that time, its giant mine was the biggest open-cut mine on the planet. And enormous amounts of gold and copper were being extracted. Too much of a good thing led to trouble though...

The colossal wealth that was extracted from the mine was one of the triggers for the escalation of violence. Local residents were unhappy with benefits from mining flowing straight off their island and not into their community.

That was almost twenty years ago...and most of the world seems to have forgotten about the giant mine.

But we saw a brilliant profit opportunity...

We bought into this company because we believed that if peace ever came and mining resumed... we’d be sitting on a gold mine...literally.

Our investment was always a risky play - and it still is. It’s all or nothing with this investment. But we’ve just received some very exciting news...

While most of us here in the U.K. were still snug in bed this morning, the Annual General Meeting of the controlling company was taking place.

Things have changed a lot since we bought in...

The mine was estimated to hold 691 million tons of ore, with concentrates of 0.4% copper and 0.47 grams a ton of gold.

As we mentioned in an update last month, the mainland government and the Autonomous government of the island recently signed a memorandum of understanding to give the autonomous government control of the island’s mineral, oil and gas resources.

The two governments will meet in June to discuss the transfer of those powers, which should pave the way for further prospecting. It’s part of the strategy to boost development on the war-scarred island and should also benefit the mine.

You see, both governments have good reason to want the mine re-opened. Mining accounts for around half of the mainlands exports. And, right now, the value of the island mines mineral deposits is soaring.

The three-month copper contract on the London Metals Exchange closed at US$8,430 a metric ton yesterday - almost triple its price when the mine was abandoned. Gold has almost doubled since then, to about US$870 a troy ounce now. So the profit potential here is staggering.

The mainland government holds a 19% stake in the islands mining company, so they stand to profit directly from re-opening the mine. And they have made clear that they plan on holding on to that stake. We take that as a very good sign.

And revenue from the mine could provide crucial funding for the impoverished island. As the chairman said in his speech to shareholders "World demand for copper, particularly in China, has created an unprecedented opportunity for (the mine) to kick start its economic growth through mineral resource development."

Things are looking very good

Of course, none of this is a done deal and the company has a lot of work ahead of it.

To quote the chairman, "There are many challenges in reopening the mine, but there is also a confluence of factors today which the board considers to be favorable."

And then he said exactly what we were hoping to hear ..."The company is better positioned now than at any time in the past 19 years to make a return to active exploration and profitable mining."

The company’s stock has just jumped 4% and the time to get in is now... learn more about this opportunity and check out the rest of my emerging market portfolio right now...