We saw a wave of protectionist measures in the 70’s, 80’s and 90’s including full blown expropriations. Are we seeing another trend? Nationalism generally has been on the rise across the globe over the past several years. It appears to have been accelerated by the pandemic and a reorientation of global power structures, with nations rethinking access to critical resources and their national security.
This has all coincided with commodity prices rising since 2019 - resource-rich nations often increase their demands for a share of the pie with such rises. Resource nationalism can manifest itself in many forms – revisions to mining codes, new or increased mining taxes or royalties, targeted environmental standards, domestic trade controls, refusal to renew exploitation licenses, or expropriation. Companies can seek legal protection by incorporating and investing in a country that has a bilateral investment treaty (BIT) with the resource-holding nation. As additional protection, companies can also seek political risk insurance. Many disputes are often resolved through negotiations without the need to commence proceedings through a BIT, though the potential for such an arbitration can provide important leverage.
Join us for a discussion with an experienced panel which will review these issues as well as due diligence measures for institutions or companies looking to finance, joint venture or acquire ongoing projects.
- Willem Jacobs, Chief Operating Officer, Africa and Middle East, Barrick Gold Corporation
- David Codd, former Chief Legal Officer of Addax Petroleum
- Frank Kelly, Director, Extractive Industries | Structured & Project Finance, EDC (Export Development Canada)
- Peter Mantas, Partner, Fasken (Toronto, London)
- Karim Maalioun, Partner, Fasken (London)
- Geoff Cowper, Partner, Fasken (Vancouver)
- 12:00 - 13:30 ET Webinar and Q&A
This event is only available by webinar
This programme contains 1.5 hours of accredited content for the purposes of the Law Society of British Columbia’s annual Continuing Professional Development (CPD) requirements. The session has been loaded with the LSBC and is titled “Resource Nationalism is on the Rise Again - It’s Time for a Quick Refresher! – June 2021”. It is available for claiming through your LSBC Member Portal.
A confirmation of participation will be sent to you for your continuing education hours with the Barreau du Québec.
For CPD/CLE in other jurisdictions, please contact your local Law Society.