DIANNA GAMES: All over Africa, states skirmish with mining companies
Governments remain suspicious of miners in particular
Mining frameworks and regulations are always contested terrain, mostly between the multinational companies that dig up the riches and the governments that host them. In Africa, the issue of how to manage resource endowments among stakeholders is even more emotional, and urgent, because of the poverty of mineral-rich countries. The debate is always underpinned by a focus on mining companies, particularly foreign multinationals, and the lingering belief that companies are benefiting unduly from Africa’s resources.Defenders say the requirements are not out of kilter with regional norms and that miners are enjoying high-quality mineral deposits and low taxes. In Tanzania last week, the government submitted three bills to parliament that have caused alarm among investors. They aim to allow the state to force mining and energy companies to renegotiate their contracts. This comes in the wake of a long-running spat with the country’s biggest investor, gold miner Acacia, over alleged underre...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.