Informed by his mining arbitration experience, partner Simon Batifort spoke at the 3rd ITA Conference on International Arbitration in the Mining Sector which took place in Toronto earlier this month. His panel was entitled “Hot Topics in Critical Materials Mining: Global Perspectives”. The panel provided a perspective on hot topics in critical materials mining from key regions of the globe, considering the perspectives of States as regulators and of private companies investing in this field.
Simon points out that, with the current global context of a “gold rush” over critical minerals:
It is no surprise to see many African States take additional measures to regulate their mineral resources sector.
A state has a responsibility to take legitimate measures to obtain its fair share of the economic value of natural resources on its territory.
Foreign investors and their advisors often criticize such measures as amounting to “resource nationalism,” and pursue international arbitration; but,
“resource nationalism” is not necessarily reprehensible, and arbitral tribunals have frequently recognized the appropriateness of disputed State measures.
Ultimately, developed and developing States share common interests in securing strategic resources and maximizing their economic benefits in an increasingly competitive global market.
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