Namibia considers taking stakes in mining and petroleum companies – by Kaula Nhongo (Bloomberg News – May 29, 2023)

Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.

“We are making a case that local ownership must start with the state, which holds ownership of our natural resources,” Mines and Energy Minister Tom Alweendo told lawmakers on Monday. “The proposed state ownership should take the form where the state owns a minimum equity percentage in all mining companies and petroleum production, for which it does not have to pay,” he said.

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Botswana president insists on bigger share of diamonds from De Beers venture (Reuters – May 25, 2023)

GABORONE, May 25 (Reuters) – Botswana will not back down on demands for a bigger share of rough diamonds from its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, upping the stakes as talks for a new sales deal appear to be stalling.

Botswana and De Beers mine the precious stones through their equally owned, 54-year-old mining venture, Debswana Diamond Co. The current diamond sales deal, in place since 2011, has been extended three times since 2020 but is set to expire next month.

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Canadian miners facing big tax hikes as mineral-rich countries look to cash in on commodities boom – by Niall McGee (Globe and Mail – January 27, 2023)

First Quantum Minerals Ltd.’s tussle with Panama over taxes is a microcosm of a global phenomenon that threatens the profitability of some of Canada’s biggest mining companies, but worst-case scenarios of sites being nationalized will be the exception, not the rule, experts say.

Earlier this month, The Globe and Mail reported details of a tentative agreement between First Quantum and the Central American country that would see the big Canadian copper miner pay as much as eight times more in taxes.

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Resource nationalism on the rise in top mining countries — report – by Editor ( – October 25, 2021)

The last year has seen a rise in resource nationalism — or the risk of thereof —in an extensive and fast-rising number of countries, including top mining countries, market analyst Fitch Solutions finds in its latest industry report.

While resource nationalism had been relatively contained geographically speaking in the past to Sub Saharan Africa, and localised countries such as Indonesia, it is spreading across the world and is now noticeable in SSA (the DRC, Mali, Zimbabwe, South Africa, Guinea), Latin America (Mexico, Peru, Chile), North America (the US), Europe (Russia) and Asia (Indonesia, Mongolia), Fitch reports.

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Centerra ups the ante as it accuses Kyrgyzstan of high-grading Kumtor – by Staff ( – September 27, 2021)

Centerra Gold (TSX: CG) has asked an international arbitrator to impose ‘urgent interim measures’ on the Kyrgyz Republic and state miner Kyrgyzaltyn JSC to address alleged “critical operational and safety issues” at the Kumtor mine.

In its latest application, Centerra seeks immediate relief pending a final award in the arbitration to prevent the defendants from “causing irreparable damage to the mine.”

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Mapping the rise of resource nationalism in Africa – by Matthew Hall (Mining Technology – July 12, 2021)

A recent study from risk consultancy Verisk Maplecroft found that the Covid-19 pandemic has contributed to a surge in governments pursuing resource nationalist policies – those that attempt to assert at least some sovereign control over natural resources.

Around the globe, 34 countries saw their Resource Nationalism Index, the score Verisk Maplecroft gives to countries based on resource policy, rise significantly in 2020. Africa is home to the heaviest concentration of countries seeking to increase their control over resources.

Reasons for a surge vary depending on the country – but the economic impact of the pandemic has “aggravated an already growing tendency for government interventionism in the resource sector”, according to Verisk Maplecroft, as governments look to recoup some of the financial losses brought on by Covid-19.

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Resource nationalism surge spells rough times for miners – by Cecilia Jamasmie ( – March 4, 2021)

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.

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When it comes to Canada-China relations, it is time to look North – by Jessica Shadian and Erica Wallis (Policy Options – July 7, 2020)

Policy Options – Institute for Research on Public Policy

Canada could chart a new course for its relationship with China, and protect our interests, by thinking more strategically about the North.

If there is one thing that the COVID-19 crisis has not brought to a halt, it is China’s Belt and Road Initiative, a global network of land and maritime infrastructure projects. In fact, while businesses around the world fold or face bankruptcies, China is taking this opportunity to make the most of the global liquidation sale, including in Canada.

During May’s chaotic lockdown, China entered a bid to buy a struggling Northern mining company, TMAC Resources. TMAC operates the Doris North gold mine at its Hope Bay property in Nunavut. The property up until very recently was labelled as “Canada’s next gold mining district,” but TMAC encountered operational challenges.

In late June, TMAC’s shareholders voted overwhelmingly in favour of the company’s sale to the second-largest gold mine company in China, state-owned Shandong Gold Mining Co. (“SD Gold”). Only five years ago, TMAC had successfully raised several hundred million dollars and began trading on the Toronto Stock Exchange.

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Morneau not committing to keeping tougher foreign investment scrutiny post-coronavirus – by Amanda Connolly ( – May 24, 2020)

Despite warnings from national security experts that Canada needs a strategy to deal with hostile foreign takeover attempts post-coronavirus, Finance Minister Bill Morneau won’t say whether the government will consider keeping new rules in place after the economic crisis ends.

In an interview with The West Block‘s Mercedes Stephenson, Morneau was asked about a warning issued by the federal spy agency CSIS last week on the threat posed by hostile foreign takeovers of key Canadian companies, and what the government is doing to limit that risk.

“We need to make sure we protect our economy for the long term,” Morneau said without offering specifics.

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Politics and Porgera: why Papua New Guinea cancelled the lease on one of its biggest mines – by Jonathan Pryke and Shane McLeod (The Guardian – May 12, 2020)

Late in April, in the middle of a global pandemic and slow-boiling domestic economic crisis, the government of Papua New Guinea made the surprising announcement not to extend the mining lease on a goldmine that contributes roughly 10% of the country’s total exports.

The announcement not to renew the special mining lease for the Porgera mine was a shock, not least to the mine’s operator, Barrick Gold, and their joint venture partner Zijin Mining.

Porgera is one of Papua New Guinea’s longest running goldmines. Operating for 30 years in the highlands province of Enga, this large mine was expected to produce around 250,000 ounces of gold in 2019.

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Papua New Guinea lashes out at Barrick for halting Porgera – by Cecilia Jamasmie ( – April 28, 2020)

Papua New Guinea is threatening to take immediate control of Barrick Gold’s (TSX: ABX) (NYSE: GOLD) Porgera mine after the company’s local unit halted operations over the weekend following news that the mining lease would not be renewed.

Barrick, the world’s second largest gold miners, and its joint venture partner, China’s Zijin Mining, had applied in June 2017 for a twenty-year renewal of the mine lease, which expired in August.

Since then, the company has faced backlash from landowners and residents over what they claim are negative social, environmental and economic impacts from the mine.

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Papua New Guinea to take control of Barrick Gold mine – by Tom Westbrook and Melanie Burton (Reuters U.S. – April 24, 2020)

SINGAPORE/MELBOURNE (Reuters) – Papua New Guinea’s government will take control of the Porgera gold mine after refusing to extend Barrick Gold Corp’s lease over the facility, citing environmental concerns, Prime Minister James Marape said on Friday.

The decision ends months of uncertainty since the lease over the troubled project expired last August, and may end Barrick’s hopes of boosting output from a mine it said held potential as a long-life and high-margin asset.

Marape took power a year ago on a platform of economic nationalism that would review more closely its mineral resource assets, and comes as pressure rises on miners globally to improve their social and environmental responsibilities.

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MINING NATIONALISM RISES IN AFRICA – by Henry Sanderson, Harry Dempsey and Neil Munshi ( – October 13, 2019)

Sierra Leone’s abrupt cancellation of an iron ore mining license last week has raised concerns about a resurgence of resource nationalism across the continent.

The action is the latest in a string of disputes between governments and mining companies in Africa, which is home to rich resources of iron ore, copper, gold and diamonds.

Gerald Group, a metals trader, said last Tuesday that its license to mine the steelmaking ingredient was canceled “with immediate effect” by the government, and it would pursue claims for more than $500 million in compensation.

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New PNG leader “taking back” economy, puts resources firms on notice – by Tom Westbrook, Jonathan Barrett and Sonali Paul (Reuters Africa – May 30, 2019)

SYDNEY/BRISBANE (Reuters) – Papua New Guinea’s new prime minister pledged on Thursday to “tweak and turn” laws governing how natural resources are extracted to help lift the vast South Pacific archipelago out of poverty.

James Marape, a former finance minister who became leader after winning a vote in parliament, put some of the world’s biggest resources companies on notice over a perceived lack of wealth flowing from their projects back to communities.

Marape, who hails from PNG’s poor but gas-rich highlands, had even quit the government in April after questioning a deal with France’s Total, which allows it, Oil Search Ltd and ExxonMobil Corp to begin work on a $13 billion plan to double gas exports.

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Zambia Files Notice of Plans to Seize Vedanta Copper Assets – by Taonga Clifford Mitimingi and Matthew Hill (Yahoo Finance – May 20, 2019)

(Bloomberg) — Zambia’s government filed notification of plans to take over Vedanta Resources Ltd.’s domestic copper assets, President Edgar Lungu said. The southern African nation’s Eurobond yields surged to a record high and the currency hit a 3 1/2-year low.

The move marks an escalation in tension between the government and mine owners, after Lungu last week threatened to “divorce” Vedanta and Glencore Plc, two of the biggest employers in Africa’s second-largest copper producer. Relations have been simmering after the state earlier this year increased royalties and unveiled a plan to overhaul the value-added tax system.

Lungu mainly targeted Konkola Copper Mines, Vedanta’s local unit, in a weekend visit to Zambia’s Copperbelt province, where some companies are cutting production and firing workers.

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