Introduction

In the last few years, the world has witnessed a resurgence of resource nationalism in minerals producing countries - mainly oil and gas, gold and copper - aimed at 'limiting the operations of private international oil and gas [and mining companies] and asserting greater national control over natural resources development'. Resource nationalism is expressed in several ways; including increased state participation and imposition of 'windfall taxes' - in some cases retroactively. Some have sought to justify the taxes on the ground that it was fair for the producing states to claw back ...