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Abstract
In recent years ‘resource nationalism’ has topped or been prominent in the concerns of the international mining industry.1 The opposite side of the same coin has been host nations seeking larger and wider benefits from their mineral endowment. The consequence of host nation aspirations has been reviews of and revisions to statutory and contractual terms. Mining companies have responded by seeking to expand and make more visible their contributions to host nations while also stressing (and not infrequently protesting) that states reviewing existing laws, regulations or contractual terms creates unpalatable investment risk in an already inherently risky business. Can there be an approach and a legal framework that create durability of agreement by satisfying the needs and wants of investors and of host nations? The authors – who are both highly experienced in negotiating and implementing complex mining agreements (often in under-developed nations) – propose guiding principles for creating modern and durable mining agreements. The principles are particularly relevant for large composite projects2 to meet the new and evolving socio-economic and geopolitical realities of the 21st century, alongside meeting the abiding needs of very large, risky and long-term investments that are inherent to large mining projects.
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Notes on contributors
Marc Frilet
Marc Frilet is the managing partner of the French law firm Frilet Société d’Avocats, a boutique Paris firm specialising in private and public infrastructure as well as mining projects and joint ventures for complex projects both in France and internationally, with a special focus on projects in developing nations. He can be contacted by email at [email protected].
Ken Haddow
Ken Haddow is an independent consultant advising companies and others seeking to develop new opportunities in mining and minerals. He is an engineer by degree, has an MBA from the London Business School and worked for 28 years with Rio Tinto, 19 of them taking Rio Tinto into new countries for exploration and leading major development projects in new places. He has worked in over 30 countries, mostly in emerging markets and the developing world. He can be contacted by email at [email protected].