Mineral development,financing and cooperation: New forms of international participation?

Although relations between direct investors and host countries must steadily evolve to meet continually changing circumstances, this should be within a broadly stable framework. The basic technical and economic characteristics of mining should dictate the nature of that framework. In contemplating their experiences during the past decade many international mining companies might ruefully agree with Benjamin Franklin that: ‘in this world nothing can be said to be certain except death and taxes’. The aim of this paper is to highlight some of the important factors that must be taken into account by governments, international agencies and private investors contemplating large-scale mining projects. These inevitably dictate the forms of international participation in mining ventures.