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The aim of this article is to discuss the principle of permanent sovereignty in light of compensation to foreign investors in the event of expropriation. I intend to show that while permanent sovereignty is a legitimate concept under international law, it can be surrendered by host states through concessions. Once this happens, the sanctity of contracts becomes overriding policy. If a state breaches its contract with a foreign investor, there are consequences. This is particularly reflected in the fact that not only does the state have to pay compensation to the investor, the award for compensation may also include the payment of lost future profits or lucrum cessans. The next section discusses permanent sovereignty and the sanctity of contracts including relevant case law. The third section will discuss compensation standards and will incorporate a discussion of lucrum cessans. The fourth section will consist of a conclusion.
This book explores the nexus between natural resources ownership and the right to development in Africa. The right to sovereignty over natural resources and the right to development are recognised and protected in an extensive framework of international, regional and domestic instruments. They guarantee people's entitlement to fully and freely utilise their natural resources as a means of subsistence and for economic, social and cultural development. Yet, despite the abundance of natural resources in Africa a majority of the people on the continent remain largely impoverished. This book articulates the central argument that to achieve the right to development in Africa requires appropriate governance of the continent’s natural resources to which the people of Africa are guaranteed sovereign ownership. With case study illustrations from Zimbabwe, Ghana, Ethiopia and the Democratic Republic of Congo, chapters explore the normative measures, specific guarantees and community entitlements to natural resources for the realisation of the right to development. The book will be an invaluable guide to scholars and postgraduate students of Natural Resources, Development and African studies as well as policymakers and practitioners in these areas.
Fifty years after the adoption of the Declaration on Permanent Sovereignty over Natural Resources by the General Assembly of the United Nations in December 1962, this volume assesses the evolution of the principle of permanent sovereignty over natural resources into a principle of customary international law as well as related developments. International environmental and human rights law leave unresolved questions regarding the limitations of this principle, e.g. extraterritorial and international influences such as the applicable criminal and tort law, as well as the extraterritorial and international promotion of good governance, including transparency obligations.
This work aims to be the definitive exploration of the possibility to conceptualize permanent sovereignty over natural resources vested in indigenous peoples rather than in States under international law.
Despite expectations that the celebrated second wave of constitutional democracy in the 1990s would facilitate economic development, Africa remains the continent with the highest level of poverty in the world. The fight against poverty hinges on a vibrant economy that creates jobs and income by generating enough revenue to enable the state to take pro-development measures. However, instead of the economic benefits that were supposed to accrue from the constitutional reforms of the last three decades (including entrenching a market economy), African economies remain weak, a situation that has been aggravated by the COVID-19 pandemic. By focusing on the relationship between constitutionalism and economic growth in Africa, this volume addresses five questions: (1) In the constitutional reforms of the 1990s and thereafter, did constitutions also reflect the shift towards a market economy, and if so, in what manner? (2) Given that agriculture and extractive industries are the main sources of state revenue in many African economies, how are matters of land and other natural resources dealt with constitutionally? (3) Where the market economy is captured in a constitution, what is the state's relationship to that economy: interventionist or laissez-faire, or somewhere in between? Have constitutions also established a 'social' state that provides its citizens with the basic elements of a dignified life? (4) In the process of constitution-making and implementation concerning the economy, what impact has globalization had on constitutionalism and economic growth in Africa? (5) Finally, how has the relationship between constitutionalism and economic growth played out in practice? Is there a symbiotic relationship? Has constitutionalism led (or may do so) to greater economic prosperity? Constitutionalism and the Economy in Africa offers a range of comprehensive arguments and case studies that will be of interest and use to academics, post-graduate students, judges, lawyers, economists, and policy makers involved in the economic role of the State, the impact of globalization, and the constitutional foundations for land and natural resources exploitation.
This rigorous book explores the opposing investor-state relationship and argues that a stable investment environment is achieved when the rights of both parties are recognised and balanced. Stanislava Nedeva examines how both certainty and predictability can be achieved in oil and gas investment agreements and identifies the ways in which political risks to contractual stability and indirect expropriation can be mitigated.
This book explores the various issues that characterise the African mining sector, drawing examples from different African countries and regional organisations. Although there is a massive literature on the subject, some issues have been neglected, including the crucial role of digitalisation and technological advancement in resolving the environmental and social challenges faced in Artisanal and Small-Scale Mining (ASM), deep-sea mining, mining contract negotiations and modernising mining laws to reflect the increasing role of critical minerals, to mention but a few. Therefore, the book unpacks the critical issues associated with the mining sector, explicitly reflecting on the practical solutions needed to address the challenges in the African mining sector. This book uniquely analyses and adds flavour to international mining’s fundamental concepts by describing a simulated annealing-based approach appropriate for complex mining projects in Africa. Book contributors comprise of academics from different universities including professors, practitioners, government policymakers, NGO executives and a variety of different experts. This multidisciplinary book will be of interest to African policymakers, governments, academics, industry professionals, energy and mining institutions, international organisations, universities across the globe and companies.
Placing security studies in the context of contemporary discourses about the colonial comeback and posthumanism, this book postulates the notion of staticide which avers that the effacement of African state sovereignty is crucial for the security of the oncoming empire. Understood in the light of posthumanism, antihumanism, animism, postanthropocentrism and transhumanism; African human security has evidently been put on a recession course together with African state security. Much as African states are demonised as so failed, defective, corrupt, weak and rogue to require recolonisation; transhumanism also assumes that human bodies are so corrupt, imperfect, defective, failed, rogue and weak to require not only enhancements or augmentation but also to beckon recolonisation. Also, deemed to be ecologies, human bodies are set to be liberalised and democratised in the interest of nonhuman viruses, nanobots, microchips, bacteria, fungi and other pathogens living within the bodies. The book critically examines the security implications of theorising human bodies as ecologies for nonhuman entities. Reading staticide together with transhumanism, this book foresees transhumanist new eugenics that are accompanying the new empire in a supposedly Anthropocene world that serves to justify the sacrifice and disposability of some surplus humans living in the recesses and nether regions of the empire. Paying attention to the colonial comeback, the book urges African scholars not to mistake imperial transformation for decolonisation. The book is invaluable for scholars and activists in African studies, anthropology, decoloniality, sociology, politics, development studies, security studies, sociology and anthropology of science and technology studies, and environmental studies.
This Handbook provides an in-depth analysis of the multiple ways in which oil has shaped, changed and affected international relations and global politics. Theoretically innovative, it provides new insights into the interaction between the materiality of oil and its social, economic and political manifestations.