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Article: Falling metal prices lead to a retreat on nationalisation.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- February 12, 2009
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BYLINE: James Macharia
The DROP in metal prices had forced a retreat in resource nationalism after boom times led governments to seek more benefit from their countries' minerals, an official of the World Bank's private sector lender said yesterday.
The global financial crisis has hit demand for metals, forcing a rethink by governments intending to nationalise assets. Others, such as Zambia, have been forced to remove onerous new taxes.
"The boom in the commodity prices led to a real resurgence in resource nationalism and participation in mining companies by governments across the world, including Africa," said William Bulmer, who heads the ...