Mineral Development Agreements: Variations from the Statutes
Despite the presence of elaborate financial and mining codes, contemporary mineral developments in less developed countries are effected by means of another instrument — the Mineral Development Agreement. All of the less developed countries in the study sample have concluded agreements with various mining companies to search for, exploit and market minerals found in their national borders. A mining agreement between the government and a multinational is a complex document which sets forth in detail the rights and obligations of the parties in the course of the various stages of the project. The legal basis for negotiation of the agreement is the mining code and other legislation relating to taxation, foreign exchange controls and imports, but government negotiators are usually given some freedom in negotiating provisions of the agreements to suit the prevailing circumstances.
KeywordsHost Country Exploration Programme Mineral Development Local Participation Statutory Provision
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