Global mining’s dangerous new reality: Guns, hostages, arrests
Live MintNeil Warburton was finishing up his breakfast of porridge and local honey when the armed soldiers converged. “It was scary," said Warburton, executive chairman of an Abyssinian Group company. “This situation is extremely frustrating," said Stephen Miller, an Abyssinian Group company executive, who added that the company had been invited to deploy its money and expertise in Ethiopia in part to benefit the country. Helaina Matza, a U.S. State Department official, said while countries should expect fair investments into their mining sectors, the U.S. is concerned about the “increasingly aggressive actions" toward Western investment in some markets. Australia’s Resolute Mining recently agreed to pay the Malian government $160 million after authorities detained the company’s chief executive and two other employees for nearly two weeks.
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