Investment Policies and Investment Promotion in the Mineral Industries

(, T.W. Wälde

doi:10.1093/icsidreview/6.1.94

Cited by 11 publications

(7 citation statements)

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“…This should be contrasted with the previous situation during the 1960s-80s, when countries were more rigid in exercising control of their rights of permanent sovereignty, with much government discretion and interference together with restrictions on foreign investment. 3,7,13,15 No matter how attractive a mining code or the mining legislative framework may appear, it relies on the relevant government agencies and institutional framework for successful implementation.…”

Section: Mineral Title Management and Regulatory Proceduresmentioning

confidence: 99%

“…This can often determine whether a particular country's mining investment regime is viewed as attractive or unduly restrictive and, consequently, unattractive by foreign mining companies. It is difficult to obtain information on this, but certain issues have been identified as potential problem areas: 14 new policies to encourage investment becoming thwarted by bureaucratic processes, delays, administrative discretion, decisions and rules; absence of a clearly defined jurisdiction for setting rules and negotiation arrangements with foreign companies; lack of a state agency with sufficient power or interest in promoting many investment projects; involvement of too many government agencies with organizational rivalry and jealousies; finally, when projects are to be implemented, the relevant government mining agency should have a sufficiently strong influence on other government agencies with conflicting interests to overcome any log jams-e.g. mines department versus finance, customs, forestry, environment departments, etc.…”

Section: Mineral Title Management and Regulatory Proceduresmentioning

confidence: 99%

“…Specifically, the administration and management of mineral titles often form the main point of contact and interaction between foreign investors and government and thus become, in the perception of the former, the practical realization of the policy. 14,15 Notwithstanding the importance of the subject, it appears to have attracted little attention in the form of published studies. An attempt is made here to identify the key features of a mineral title management system that can have an influence in attracting foreign mining investment in the context of a mining legal/regulatory framework; an analytical, descriptive and prescriptive methodology is adopted.…”

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confidence: 99%

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Mineral title management—the key to attracting foreign mining investment in developing countries?

Morgan¹

2002

Applied Earth Science

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Many developing countries are reforming their mining legislation to attract private foreign investment. The effectiveness of this legislation depends on its proper implementation by the regulatory and administrative regime; mineral title management is considered the cornerstone of this implementation.An analysis of the main criteria to which mining companies refer in making investment decisions reveals that a significant proportion-including security of tenure, regarded as the most important apart from geological potential-reflect perceptions of a country's administrative procedures and government agency functions. An attempt is made to identify the key features of a mineral title management system and to show how in an effective system these features can be made to match the investors' criteria, thus helping to attract foreign mining investment.

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Section: Mineral Title Management and Regulatory Proceduresmentioning

confidence: 99%

Section: Mineral Title Management and Regulatory Proceduresmentioning

confidence: 99%

mentioning

confidence: 99%

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Mineral title management—the key to attracting foreign mining investment in developing countries?

Morgan¹

2002

Applied Earth Science

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“…Given those constraints, one observer has stated that even a majority ownership by a government 'can be quite meaningless' ( [8], p 18). He referred to the fact that, in the past, 'agreements concluded with government majority in Guinea (both with Western companies and the USSR) have generated relatively little income to the government' ( [8], p 19).…”

Section: Fiscal Effects Of Participationmentioning

confidence: 99%

Government participation in mining projects

Padmore¹

1992

Natural Resources Forum

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Governments of developing countries may obtain ownership participation in national mining projects in the hope of receiving greater policy control over, financial rewards from, and information about such projects. These objectives could be achieved by using their sovereign authority to tax, regulate and monitor projects more effectively. The principal problem is likely to be the administrative inability fully to enjoy rights that they lawfully possess. As such projects are nearly always controlled by foreign entities, and involve the exploitation of irreplaceable mineral wealth, they may engender feelings of suspicion and hostility. Government participation may sometimes be necessary to mitigate those feelings and to lead to more stable and successful projects. If these political objectives are fully recognized, then government participation may be structured so as to minimize any detrimental effect it might have on the fiscal and financial structure of the project. It may also prove to be a vehicle for future participation by private local interests, thereby eliminating the alien enclave feature generally characteristic of such projects.

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“…2 Governments in many resource-rich developing countries have actively implemented investment promotion policies to attract these investors (Walde, 1993).…”

Section: Introductionmentioning

confidence: 99%

Creating an Institutional Environment for FDI-facilitated Development: The Case of the Jamaican Bauxite Industry

Barclay

2010

Eur J Dev Res

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The recent resurgence in resource-seeking foreign direct investment (FDI) in developing countries is especially critical to these countries, as their small domestic markets and weak productive sectors inhibit other forms of FDI. Developing-country governments are now challenged to create policies, which ensure that these renewed FDI inflows translate into sustained economic development. This article argues that resource-driven, FDI-facilitated development occurs when industrial policy is made in environments characterised by embedded autonomy. This is where the bureaucracy, which is autonomous and competent, shares a strategic collaborative relationship with the private sector (Evans, 1995). Based on evidence from the Jamaican bauxite industry, this article contends that resource-driven, FDI-facilitated development occurs when developing countries, constrained by inadequate fiscal and human resources, create bifurcated bureaucracies that are not only well funded, but also embedded with both local and foreign firms.La reprise re´cente des investissements directs a`l'e´tranger (IDE) re´alise´s dans le but d'acce´der a`des ressources naturelles dans les pays en voie de de´veloppement est un phe´nome`ne particulie`rement critique pour ces pays car la petite taille de leurs marche´s inte´rieurs et la faiblesse de leurs secteurs productifs ne les permettent pas d'encourager d'autres formes d'investissements. En meˆme temps, les gouvernements des pays en voie de de´veloppement sont confronte´s a`la taˆche difficile de mettre en place des politiques assurant que ce regain d'investissements directs conduise a`un de´veloppement e´conomique soutenu. Cet article montre que le de´veloppement facilite´par les IDE ayant pour but d'acceder aux ressources naturelles d'un pays se produit lorsque des politiques industrielles sont mises en place dans des environnements caracte´rise´s par une ) autonomie encastre´e *, c'est a`dire des environnements u`l'administration -autonome et compe´tente -entretient des relations de collaboration strate´giques avec le secteur prive´ (Evans, 1995). S'appuyant sur l'exemple de l'industrie de la bauxite en Jamaı¨cet article soutient que le de´veloppement facilite´par les IDE re´alise´s afin d'obtenir un meilleur acce`s aux ressources naturelles se produit quand les pays en voie de de´vel-oppement, geˆne´s par une insuffisance des ressources fiscales et humaines, cre´ent des syste`mes administratifs bifides bien finance´s et bien relie´s aux firmes locales et e´trange`res.

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Investment Policies and Investment Promotion in the Mineral Industries

Cited by 11 publications

References 0 publications

Mineral title management—the key to attracting foreign mining investment in developing countries?

Mineral title management—the key to attracting foreign mining investment in developing countries?

Government participation in mining projects

Creating an Institutional Environment for FDI-facilitated Development: The Case of the Jamaican Bauxite Industry

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