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Exploring in New Frontiers : Overview of Key Local Issues

Exploring in New Frontiers : Overview of Key Local Issues. Yves Baratte, Partner Iain Duncan, Partner 31 October 2012. Disclaimer.

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Exploring in New Frontiers : Overview of Key Local Issues

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  1. Exploring in New Frontiers: Overview of Key Local Issues Yves Baratte, Partner Iain Duncan, Partner 31 October 2012

  2. Disclaimer • This document is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.

  3. Misconceptions about mining in developing countries / new frontiers • “The law does not matter there; the local governments do not apply their own laws” • “In these countries, natural resources are linked to national sovereignty and governmental relations are all that matters” • “In these countries, mining transactions are not as sophisticated as in developed countries”

  4. Challenges in developing countries / new frontiers • Governmental authorities sometimes do not know / do not apply their own Codes • … subject to more scrutiny • NGOs and international institutions • lenders • anti-corruption laws (e.g. the UK Bribery Act 2010) • More unstable • political contexts • unreliability of local courts • Lack of infrastructure

  5. Overview: mining codes in selected “frontier” countries • Key mining laws • Key regulatory bodies • Significant terms of exploration and mining licences • Mining conventions / investment agreements / stabilisation arrangements • Security over and transfer of licences • Land acquisition rights • Obligations to divest to the State and/or local investors • Domestic market obligations • Benchmark selling obligations • Import restrictions • Production royalties / taxes • Forum for settlement of disputes

  6. Key mining laws: Africa

  7. Key mining laws: Asia

  8. Key regulatory bodies: Africa

  9. Key regulatory bodies: Asia

  10. Significant terms of exploration and mining licences: Africa

  11. Significant terms of exploration and mining licences: Africa

  12. Significant terms of exploration and mining licences: Africa

  13. Significant terms of exploration and mining licences: Asia

  14. Mining conventions/investment agreements/stabilisation arrangements: Africa

  15. Mining conventions/investment agreements/stabilisation arrangements: Asia

  16. Security over and transfer of licences: Africa

  17. Security over and transfer of licences: Africa

  18. Security over and transfer of licences: Africa

  19. Security over and transfer of licences: Africa

  20. Security over and transfer of licences: Asia

  21. Land acquisition rights: Africa

  22. Land acquisition rights: Africa

  23. Land acquisition rights: Asia

  24. Obligations to divest to the State and / or local investors: Africa

  25. Obligations to divest to the State and / or local investors: Asia

  26. Domestic market obligations: Africa

  27. Domestic market obligations: Asia

  28. Import restrictions

  29. Production royalties / taxes: Africa

  30. Production royalties / taxes: Africa

  31. Production royalties / taxes: Asia

  32. Forum for settlement of disputes: Africa

  33. Forum for settlement of disputes: Asia

  34. Yves Baratte T +33 1 53 29 16 14 Yves.Baratte@simmons-simmons.com Iain Duncan T +44 207 825 31 37 Iain.Duncan@simmons-simmons.com simmons-simmons.com elexica.com

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