Resource-rich countries are increasingly looking to consultants, advocacy groups, and development agencies to help them negotiate with miners from a more informed position. And miners are doing the same in the hope of avoiding the conflicts that have plagued them in the last few years. The upshot is that, over the next few years, the resource-extraction industry, and mining in particular, will become more transparent than ever. Mining firms will probably see less profit, and poor and middle-income resource countries will get more. That can go toward addressing their populations’ basic needs and speeding up development — or it can be lost to corruption.
S&P 500 Materials Sector ended 2013 up almost 23% as heavily-weighted steel companies registered better-than-expected earnings and aggressively cut costs