These should be the best of times for the big miners. The global economy is booming, demand for the minerals they dig up is high and even a lack of investment in new production is helping to push up prices. Yet instead of watching the profits roll in, the industry’s giants are having to fight for them.
In a series of disputes that reverberate all the way back to the City and from there to millions of British investors and pension-holders, national governments are taking on the multinationals.
According to Paul Collier, a development economist and author of The Bottom Billion, governments are trying to replenish their coffers after the price slump of 2014 and 2015. Morever, he added: “The bad behaviour of many companies…
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