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Article

1 Mar 2011

Author:
Albert ten Kate & Joseph Wilde-Ramsing, Centre for Research on Multinational Corporations (SOMO) and World Information Service on Energy (WISE)

[PDF] Radioactive revenues: Financial flows between uranium mining companies and African governments

Uranium mining operations in Africa are conducted by multinational corporations, and there is continuous debate about the investment agreements (including tax breaks) between these enterprises and the African host states. Some feel that mining companies are driving a hard bargain, offering the host states little revenue while making big profits. Others criticise the secrecy surrounding investment agreements (which have a law-making function) and the lack of transparency in the book-keeping of companies as well as host states. This report focuses on the revenues from uranium mining operations for the African host states. It also examines the transparency with regard to payments made by multinational corporations to the host states...The overall long-term aim of this report is to contribute to sustainable and fair economic development in Africa and to the elimination of the structural causes of poverty exploitation and inequality. [refers to Rio Tinto, AREVA, Paladin Energy, AngloGold Ashanti]