In an move welcomed by observers and oversight actors, the regulatory body overseeing the Lebanese oil and gas sector has published exploration and production agreements by the government and a consortium for two offshore blocks.
There is growing momentum to define the core objectives and principles of local level agreements in Mongolia. But the national government itself must do a better job of facilitating a national dialogue.
In Mongolia, resource companies are encouraged to use local level agreements (LLAs), and though the quality and uptake of these agreements is not consistent, the country's experience provides important lessons for any resource-rich country that seeks to improve agreement-making in communities.
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.
Guinea’s Ministry of Mines and Geology (MMG) has just released an updated, expanded mining contracts portal. This is the latest milestone in a multi-year journey toward better and more complete online disclosure of agreements critical to the country’s development.