Alexander Malden, Toyin Akinniyi, Zira John Quaghe
This level of immediate national press coverage reaffirms the importance of payments to government data to citizens in resource-rich countries, and how it is increasingly informing national debates on countries’ natural resources management.
Political parties can help ensure that their country gets the best deal for the extraction of its resources, manages revenues for the long-term best interests of citizens and avoids the resource curse.
In a report, Rio Tinto was accused of “illegitimately lowering” its withholding taxes paid to the government of Mongolia in relation to the Oyu Tolgoi copper mine. Rio allegedly did this by using a double tax agreement between Mongolia and the Netherlands, in addition to which it negotiated an even lower rate of withholding tax in its amended mining agreement in 2011. This piece reviews Rio’s tax arrangements.
Unlike in the resource-rich country in the film Black Panther, much of Africa’s mining sector is currently dominated by foreign direct investment; its raw minerals are often exported with limited local participation in the sector and tax revenues are eroded.
Carole Nakhle, the founder and CEO of Crystol Energy and a new NRGI board member, spoke with NRGI before International Women’s Day about the growth of AccessWIE, “anemic” female participation in the extractives sector, and the roles NRGI can play in addressing gender inequality and women’s empowerment.
Tolonen’s research focuses on how natural resources affect labor markets, criminal behavior, health and social welfare, and, in particular, gender inequality. Tolonen also focuses on the economics of gender in the household and child health in developing countries.
French oil giant Total is the latest company to make a policy statement in support of contract transparency in the extractive industries. This is the first policy statement of its kind by one of the so-called “supermajors”—the world’s largest publicly traded oil and gas companies.
If ExxonMobil and Chevron truly support transparency and wish to retain the reputational benefits of leadership in initiatives like the Extractive Industries Transparency Initative, they should support full implementation of Dodd-Frank 1504 in the U.S. (in line with laws in Europe and Canada) and disclose their tax payments in the U.S. and all other countries where they operate.