Governments from Mongolia to Mali seek to reopen mining deals
02/18/2021 | 04:11am EDT
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TORONTO/JOHANNESBURG (Reuters) - Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies favor.
Any move to renegotiate agreements will trigger pushback by miners wary of threats to their profit margins, experts said, and previous attempts have caused protracted disputes.
Mongolia became the latest country to demand better terms, asking for more tax revenue from Rio Tinto s Oyu Tolgoi copper-gold mine while it waits for dividends. In West Africa, Mali has said it would try to reopen mining contracts that leave the state waiting years for dividend payments.
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Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies' favor.