Resource nationalism has spiked in more than 30 countries over the last year and more than half of those nations are key producers of minerals and hydrocarbons, a new study reveals.
The growing trend, paired with the economic impacts of covid-19, has heightened governments’ rising appetite for greater control over mineral revenues, the latest research from risk consultancy Verisk Maplecroft shows.
The consultancy identified 34 countries in which a trend to take control over natural resources or ensure higher profits from them has grown since 2017. At least 18 of those nations, including Ghana, Mali, Colombia, Chile and Canada, are resource-dependent economies.
Verisk Maplecroft warns that miners in Africa and Latin America are expected to bear the brunt of new government measures to cash in on its resources over the next two years.
Interventionism, expropriation and indigenization are expected to be the key mechanisms states will use to claw back lost revenue during the pandemic-triggered economic slowdown.
For the rest of this article: https://www.mining.com/resource-nationalism-surge-spells-rough-times-for-miners/