Managing political and regulatory risks while operating abroad is now a business imperative for mining operators. Julian Turner talks to Rob Foulkes and Charlie Pembroke of consultancy Critical Resource about sustainability, licence to operate issues and avoiding mistakes of the past.
Anyone in search of a cautionary tale about the myriad risks faced by energy and mining companies operating abroad need look no further than Acacia Mining and its ongoing travails in Tanzania.
In 2017, the East African nation accused the London-listed gold miner of under-reporting output at its three mines and banned it from exporting powdered gold concentrate. The embargo cost Acacia’s chief executive and chief financial officer their jobs, and the company around $1m (£760,000) a day. Continue Reading →