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| Image Source: huffingtonpost.com |
These aboriginal actions may seem noble and historic, but the mining industries fear what these actions could lead to. In the 2012/13 survey of the best mining jurisdictions across the globe, Canada lost the top spot for the first time in six years as mining companies sensed that Idle No More constituents appear much less willing to accommodate them than in the past. Ironically, Canada holds 75 percent of the world’s mining operations, and the situation could stain the nation’s reputation as a source of low-risk resource development.
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| Image Source: cbc.ca |
Experts believe that the historic actions could lead to drastic and less realistic changes in contract agreements. Changes in land rights, compensation, and the inclusion of profit-sharing clause on business deals are some of the challenges which the industries have to prepare for.
It is believed that these changes spurred from a series of broken promises made by the Harper administration for the indigenous people since its rise to power. Jeff Dennis, assistant professor at McMaster University, asserts that the government has, among others, abandoned land claims, tried to cover underfunding of schools and welfare agencies, gutted environmental regulations, and eased restrictions on Canadian territories, much to the dismay of the natives.
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Experts would believe that it’s up to the mining companies to renegotiate parts of the agreements and bear the brunt of the pro-natives movements or transfer to other mining operations.
This blog on Richard Fifer digs deep into the issue on aboriginal protests and the mining industries in Canada.
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