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stabilization clauses in mining

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Stabilization Clauses in International - uni-halle.de

B. Stabilization clauses: background and debate I. Current features of stabilization clauses in investor- state contracts General information about stabilization clauses in contractual practice is difficult to find, as investor-state agreements are not easily publicly accessible. In 2008, a study

Stabilization Clause | Practical Law

A stabilization clause is a means for foreign investors to mitigate or manage the political risks associated with their project. The most common types of stabilization clauses are: Freezing clauses: These clauses fix or freeze for the term of the project the applicable domestic legislation or regulations affecting the project to those in effect

Stabilisation clauses – issues and trends - Lexology

Jun 30, 2010The future of stabilisation clauses: the scope of these clauses is being reassessed by the UN to strike a balance between human rights and the need to promote and enable viable investment *

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STABILIZATION CLAUSES IN NATURAL RESOURCE

STABILIZATION CLAUSES IN NATURAL RESOURCE EXTRACTION CONTRACTS: LEGAL, ECONOMIC AND SOCIAL IMPLICATIONS FOR DEVELOPING COUNTRIES Evaristus Oshionebo* I. INTRODUCTION eveloping countries endowed with natural mineral resources have a number of common features. These countries often lack the

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STABILISATION CLAUSES AND HUMAN RIGHTS -

Stabilization Clauses For the purposes of this study, “stabilization clauses” are those clauses in private contracts between investors and host states that address changes in law in the host state during the life the project. Use of stabilization clauses is widespread across industries and regions of the world.

Investments in the deep freeze? Stabilization clauses in

A few years ago, stabilization clauses in investment contracts became the subject of increased attention by human rights and development groups. A report on Stabilization Clauses and Human Rights, issued by the UN Secretary-General’s Special Representative for Business and Human Rights, John Ruggie, was the first comprehensive study to draw on a range of heretofore

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Freezing government policy: Stabilization clauses in

Stabilization clauses and regulatory chill The most sustained examination of stabilization clauses is in a 2008 study spearheaded by John Ruggie and the International Financial Corporation (IFC) of the World Bank.1 The Ruggie/IFC report mostly understands the problem of stabilization clauses as a tradeoff between the need

Legal Issues Arising from a Review of Mining Development

Any future stabilization clauses must not be for the life of the mine but have a time limit and be subject to periodic review based on the economic equilibrium principle Most MDAs that the GoT has already entered into with foreign investors have clauses that provide for stabilization and give assurances of stability of the fiscal regime

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Evidence and Implications

yet stabilization clauses are typically offered in developing, not developed, countries. Section 3 assesses the effectiveness of such mechanisms by looking at specific countries’ experiences, and discusses the central issues related to the design and implementation of fiscal stabilization measures.

Shemberg - Stabilization Clauses and Human Rights

Shemberg, A., Stabilization Clauses and Human Rights, A Research Paper Conducted for the IFC and the United Nations Special Representative of the Secretary-General on Business and Human Rights, May 27, 2009 (Link to full text). This paper examines whether stabilization clauses, in its application, may affect the duty of a state in implementing its international human rights obligations.

Stabilization Clause | Negotiations Portal

A clause in a contract between an investor and a host state that addresses changes in law in the host state during the life of the project. There are three broad categories of stabilization clauses: Freezing clauses ― that specify that the law that is in effect on the day that a contract is signed will apply to the project for the life of the project notwithstanding any subsequent changes in

Stabilisation clauses and state aid | BDK Advokati

May 30, 2017As a result of this stabilization clause, NIS has continued to pay a mining fee equal to 3% of its oil extraction revenues even after 2011, when this fee was increased to 7% by virtue of a new legislation on mining and geological explorations.

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CONTRACTUAL ASSURANCES OF FISCAL STABILITY

2 Stability clauses have been used to insulate investors from having to implement new environmental and social laws. See, International Finance Corporation, “Stabilization Clauses and Human Rights,” March 11, 2008. 3 Thus the paper is not concerned with fiscal stabilization in a macroeconomic sense.

Stabilisation clauses and state aid | BDK Advokati

May 30, 2017As a result of this stabilization clause, NIS has continued to pay a mining fee equal to 3% of its oil extraction revenues even after 2011, when this fee was increased to 7% by virtue of a new legislation on mining and geological explorations.

Shemberg - Stabilization Clauses and Human Rights

Shemberg, A., Stabilization Clauses and Human Rights, A Research Paper Conducted for the IFC and the United Nations Special Representative of the Secretary-General on Business and Human Rights, May 27, 2009 (Link to full text). This paper examines whether stabilization clauses, in its application, may affect the duty of a state in implementing its international human rights obligations.

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STABILISATION CLAUSES AND HUMAN RIGHTS - ifc.org

Stabilization Clauses For the purposes of this study, ―stabilization clauses‖ are those clauses in private contracts between investors and host states that address changes in law in the host state during the life the project. Use of stabilization clauses is widespread across industries and regions of the world.

Tax Stabilization Clause in Oil and Gas Industry

tax stabilization clause, oil and gas agreement Abstract An investor in oil and gas industry take the risk of concluding a long-term contract with a state counterparty that has the power at any time to change the tax law applicable to its contract.

Stabilization Clauses (Tax or Regulatory) | Investment

Feb 15, 2019September 10, 2018 Mining Disputes, Stabilization Clauses (Tax or Regulatory), UNCITRAL and Ad-Hoc Zoe Williams You are not logged in. If you are a

Stabilisation clauses and state aid | Lexology

May 30, 2017As a result of this stabilization clause, NIS has continued to pay a mining fee equal to 3% of its oil extraction revenues even after 2011, when this fee was increased to 7% by virtue of a new

(PDF) Stabilization Clauses In International Investment

Brownlie defines stabilization clauses as “the term ‘stabilization clause’ relates to any clause contained in an agreement between a government and a foreign legal entity by which a government party undertakes neither to annul the agreement nor to modify its terms, either by legislation or by administrative 20 A total of 30 cases are

The Realities of Stabilization Clauses in Petroleum

Apr 02, 2013The use of stabilization clause was said to have originated in the period between World War I and World War II when US companies used it to preserve concession agreements –

Oil, Gas, and Mining Fiscal Terms | Natural Resource

What are oil, gas, and mining fiscal terms? In most countries, the extractive industries develop and operate through relationships between sovereign governments and private companies. The fiscal terms that govern the relationship between these parties determine how the financial benefits and risks of extractive projects will be divided.

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REGULATORY TAKINGS, STABILIZATION CLAUSES

Sep 22, 2003REGULATORY TAKINGS, STABILIZATION CLAUSES AND SUSTAINABLE DEVELOPMENT Lorenzo Cotula Session 2.2.: The policy framework for investment: the social and environmental dimensions This paper was submitted in response to a call for papers conducted by the organisers of the OECD Global Forum on International Investment.

Freezing Clause | Practical Law

A type of stabilization clause contained in a host government agreement (HGA) or other international investment agreement between a local or host government and a foreign investor concerning a project or other investment which fixes or freezes for the term of the project, domestic legislation or regulations affecting the foreign investor and the project or other investment to those in effect

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Stabilisation Clauses and the Zambian Windfall Tax

Zambia Social Science Journal Volume 1|Number 1 Article 7 5-1-2011 Stabilisation Clauses and the Zambian Windfall Tax Sangwani Ng'ambi University of Zambia

Authors: Sangwani NgambiAbout: Foreign direct investment · International trade · Copper · Tax reform · Law and econo[PDF]

Renegotiation of International Petroleum Agreements

renegotiation of international petroleum agreements 263 agreements. 5 Hence, one may ask why we should have a renegotiation clause. Is it not more stable not to have one? In order to answer this question, a number of considerations have to be taken into account. These are addressed in the remainder of this section. A. Stabilization Clauses

Ghana?s Mining Stability Agreement: The Blame Game is on

By: Fred Yaw Sarpong- Daily Express The mining stability agreement signed between the government of Ghana and companies to protect the investment of the companies due to the risk of mining and it

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REGULATORY TAKINGS, STABILIZATION CLAUSES

Sep 22, 2003REGULATORY TAKINGS, STABILIZATION CLAUSES AND SUSTAINABLE DEVELOPMENT Lorenzo Cotula Session 2.2.: The policy framework for investment: the social and environmental dimensions This paper was submitted in response to a call for papers conducted by the organisers of the OECD Global Forum on International Investment.

(PDF) Ownership of Large Scale Mining in Zambia and

Ownership of Large Scale Mining in Zambia and Stabilisation Clauses. S. Ng'ambi. Download with Google Download with Facebook or download with email. Ownership of Large Scale Mining in Zambia and Stabilisation Clauses. Download. Ownership of Large Scale Mining in Zambia and Stabilisation Clauses.

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TSHEGOFATSO MATSOBANE RAMMUTLA 12108032

explores how and why the fiscal stabilization clause has become a popular option for fiscal risk management. These clauses have been heavily criticized by various stakeholders and yet they remain as relevant today as when they were first shaped in the 20th century. The study also looks at the controversy surrounding the validity of

Resolving disputes in Africa's mining sector | White

Such adverse measures may include expropriation, discrimination, or unfair treatment by government agencies or national courts, violations of stabilization clauses or withdrawals of tax exemptions. If a dispute arises, the mining company will generally have three ways to resort to international arbitration.

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Mongolia’s Missing Oil, Gas and Mining Contracts

Stabilization provisions Mining investor agreements contain stabilization provisions, which insulate projects from changes to certain parts of the legal framework. These terms may limit reforms, usually those relating to taxation but sometimes also extending to other issues. Publication of stabilization clauses is critical for government

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THE RESOURCE NATIONALISM CYCLE,

THE RESOURCE NATIONALISM CYCLE, STABILIZATION CLAUSES AND THE NEED FOR FLEXIBILITY University of Leicester June 2014. i ABSTRACT Foreign direct investment in the mining and oil industries is invariably fostered through the signing of concession agreements between the host State and the investor. stabilization clauses inflexible because

Stabilization Clauses (Tax or Regulatory) | Investment

Feb 15, 2019September 10, 2018 Mining Disputes, Stabilization Clauses (Tax or Regulatory), UNCITRAL and Ad-Hoc Zoe Williams You are not logged in. If you are a

Dispute Resolution in Africa Mining Assets: Exploring the

Jul 11, 2018The majority of host states have promulgated either a mining code or a mining act, which provides the general framework for mining concessions for domestic and foreign investors. 4 In these scenarios, international arbitration provides an effective dispute resolution mechanism because it provides, inter alia, for a neutral forum, a decision

(PDF) Stabilization Clauses In International Investment

Brownlie defines stabilization clauses as “the term ‘stabilization clause’ relates to any clause contained in an agreement between a government and a foreign legal entity by which a government party undertakes neither to annul the agreement nor to modify its terms, either by legislation or by administrative 20 A total of 30 cases are

EI Sourcebook | 7. Fiscal Design and Administration

Reflections on Sovereignty over Natural Resources and the Enforcement of Stabilization Clauses Date - 19/05/2016 An appeal to the legal profession to shift the discourse about the supposed negative attributes of stability clauses to one that centres on how their analysis is situated in a contextualised understanding of such clauses amidst the

Transfer Pricing in the Mining Industry - tpcases.com

Fiscal stabilization clauses are problematic from a tax perspective because they can freeze the fiscal terms in the contract such that changes in tax law may not be applicable to existing mines, foregoing significant government revenue.

GAR Chapter: Of Taxes and Stabilisation

These stabilization clauses, freely accepted by the Government, do not affect the principle of its sovereign legislative and regulatory powers, since it retains both in relation to those, whether nationals or foreigners, with whom it has not entered into such obligations, and that, in the present case, changes in the legislative and regulatory

Legal Update – 3 July 2017 – Law firm in Tanzania

Jul 03, 2017Furthermore, the Government seeks to introduce, particularly in the mining sector, a prohibition on stabilization clauses that entails the ‘freezing of laws.’ In addition it is proposed that any future stabilization clauses must not be for the life of the mine but have a time limit and be subject to periodic review based on the ‘economic

Negotiate the Contract - Draft, Negotiate and Review

A brief and clear introduction to the main issues to be considered when drafting a petroleum contract: type of agreement to enter into, taxes to apply, stabilization clauses to include, termination conditions, and so on. It can also serve as a guide for other large-scale investment projects.