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S U B S C R I B E
Tuesday, 8 May, 2012
Mining industry fights nationalisation
The mining industry is planning to fight what it calls resource nationalism. That’s according to Ivan Glasenberg, CEO of Glencore, speaking last week. Glencore is the world’s largest commodities trader based in canton Zug. He was referring to a pattern of countries seeking ever higher shares of mining profits. He also said that miner Xstrata, which Glencore partly owns, was holding back on a big copper investment in Argentina. Possibly he had in mind the spectre of nationalization after Bolivia took control of a power company and Argentina an oil company, both Spanish-owned. WRS’s Pete Forster talks to Professor Marc Hufty, who specializes in resource politics at the Graduate Institute:
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