Rethinking Risk: Jurisdiction
Excellent article - some key quotes:
- The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent.
- “The reality is that the resources the world wants are typically located in difficult places,” said Steven Fox, executive chairman of New York-based political risk consultancy Veracity Worldwide.
- The U.S. administration wants to position itself as a strong supporter of battery metals projects in sub-Saharan Africa, he said. “While Africa presents its challenges, those challenges are no more difficult than the corresponding set of challenges in Canada. It may be easier to actually bring a project to fruition in Africa, than in a place like Canada or the U.S.,” he added.
- The United States has voiced support for new domestic mines, but projects have stalled. Rio Tinto’s Resolution copper project, for example, was halted over Native American claims on the land, and conservation issues.