Model Mining Development Agreement
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The MMDA project recognizes the fundamental role that foreign investment in the mining sector plays in the growth of many developing countries and, therefore, in improving living standards in the mining industry or in the vicinity of mining communities. Host governments have developed strong views on the role that mining companies should play in the sustainable development of mining communities in order to counter the growing opposition of these communities to mining operations that are of little use to them. In addition, anti-corruption laws have become more widespread under both the law of many developing countries2 and international law3.3 International organizations, non-governmental organizations and civil society organizations have called for greater transparency in international commodity extraction agreements4. if a mini-code requires a supplement by a private contract or as a model for agreements with mining state entities. The MMDA will work to address issues that a potential investor, mining company, government or civil society representative can expect in a fundamental agreement on mine development, such as operational safety, legal security and clarification of government and investor rights and obligations. As a result, it has become imperative that foreign investment in the mining sector promote sustainable development while equitably protecting the interests of host governments, mining communities and investors. However, many developing countries have not developed mining codes to address these issues. Many of the concerns expressed about the clarity, quality and balance of mining agreements are ultimately concerns about the imbalance of resources and the capabilities of the parties negotiating the agreements. To some extent, the comments also suggest that negotiating effective mining development agreements is a very complex task that requires multidisciplinary assistance from accountants, tax experts, mining lawyers, geologists and perhaps others.
