At the formal launch of the ResourceContracts.mn contracts portal on 22 April, Mongolia’s deputy minister of mines and heavy industry reaffirmed the country’s commitment to publishing mining and petroleum contracts and announced the public release of over 150 new contracts. After several years of stuttering progress on contract transparency in Mongolia, this is welcome news.
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.
Civil society actors fighting for better resource governance must engage with reformers in government and business and speak “truth to power” with those parties hampering progress, NRGI president and CEO Daniel Kaufmann tells RAW Talks.
NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.