Africa's Mineral-Rich Countries Get Tough With Trade Partners

Source: Christian Science Monitor

Africa's Mineral-Rich Countries Get Tough With Trade Partners
African mining: Will mineral-rich countries start a cartel like OPEC?
By DREW HINSHAW
DAKAR, Senegal, May 8, 2010

African leaders are pushing for tougher terms on mining concessions after 25 years of structural adjustment – when countries cut red tape and offered generous tax holidays to foreign prospectors.

The new dynamic was on display at a recent mining conference in Senegal. The chief executive officer of a multinational Africa mining firm was speaking, but Senegal's president didn't appear to be listening.

Across the hall from President Abdoulaye Wade sat 500 delegates from foreign mining firms. They had come in March to see which new holes were worth digging in this continent whose riches are in demand from booming economies like China's.

When the CEO's presentation ended, Mr. Wade treated his visitors to a rhyme: "I never said, enrichissez-vous." . "I said enrichissons-nous." (Let's enrich one another.)



Read more: http://abcnews.go.com/International/inside-africa-mineral-rich-countries-tough-trade-partners/story?id=10584320

with the oil companies who had been exporting their natural resources for a fairly nominal percentage of the revenues ...

the US has more than enough Predator Drones to go around.

return for the minerals they forgot to take before prior 1961.