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  • 1
    ISBN: 9780192849052
    Language: Undetermined
    Pages: 1 Online-Ressource (224 p.)
    Series Statement: Critical Frontiers of Theory, Research, and Policy in International Development Studies
    Keywords: Agricultural economics ; Agricultural and rural economics ; Africa, Congo, mining, industrialization, development, corporations, labour, global value chains, conflict, gold
    Abstract: Since the turn of the century, low-income African countries have undergone a process of mining industrialization led by transnational corporations. The process has been sustained by an African Mining Consensus uniting international financial institutions, African governments, development agencies, and various strands of the academic literature. The Consensus holds that transnational mining corporations are best placed to drive structurally transformative processes of mining-based development on the continent. State-owned enterprises and local forms of labour-intensive mining are deemed unsuitable. The former is characterized as corrupt and mismanaged, and the latter as an inefficient, subsistence activity with links to conflict financing. Through a detailed case study of gold mining in the Democratic Republic of the Congo, Disrupted Development in the Congo reveals the fragile foundations on which this consensus rests. The book documents how foreign mining corporations in the Congo have been prone to mismanagement, inefficiencies, and rent-seeking, and implicated in fuelling conflict and violence. In addition, the book details how structural impediments to the transformative effects of mining industrialization in low-income settings occur irrespective of ownership and management structures. In light of these constraints, and the levels of overseas surplus extraction and domestic marginalization associated with foreign-owned industrial mining, a shift to domestic-owned forms of mining-based development would better meet the needs of low-income African economies for rising productivity, labour absorption, and the domestic retention of the value generated by productive activity than the currently dominant but disarticulated and disruptive foreign corporate-led model
    Note: English
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  • 2
    Online Resource
    Online Resource
    Oxford : Oxford University Press
    Language: Undetermined
    Pages: 1 Online-Ressource (24 p.)
    Keywords: Agricultural economics
    Abstract: This introductory chapter sets out the book’s aims and contributions, outlines its main lines of argument, and details the theoretical foundations underpinning the African Mining Consensus, which holds that transnational mining corporations are best placed to drive structurally transformative processes of mining-based development on the continent. It then moves on to document how, in establishing this Consensus position, proponents have tended to misrepresent or disregard some of the classic critiques mounted by a group of pioneering early development economists. These critiques focused on the specific challenges and constraints faced by income-poor peripheral countries seeking development through deeper integration with the global capitalist economy. Returning to these earlier critiques provides helpful lenses with which to explore, with some adaptation, several axes of tension within the ongoing process of foreign corporate-led mining industrialization in low-income African countries that are overlooked by the absent or simplistic representation of these critiques by Consensus proponents
    Note: English
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  • 3
    Online Resource
    Online Resource
    Oxford : Oxford University Press
    Language: Undetermined
    Pages: 1 Online-Ressource (22 p.)
    Keywords: Agricultural economics
    Abstract: By the 2010s, the view that state mismanagement and inefficiencies underlay the Congo’s economic malaise had become so commonplace as to permeate nearly all thinking about development in the country. The aim of this chapter is to challenge this line of thinking and question the Consensus wisdom of moving from domestic-owned to foreign-owned industrial mining based on a belief in the superior efficiency of the latter. By charting the rise and fall of Belgian-owned SOMINKI (1976-1997) and Canadian-owned Banro (1995-2019) in eastern Congo, its main line of argument is that foreign-owned and managed mining corporations are no less vulnerable to mismanagement, firm inefficiencies, and volatile prices than their state-owned counterparts. This included, in the case of Banro, rent-seeking behaviour, redirecting value to overseas directors and shareholders at the expense of productive capacity and to the detriment of the Congolese state and Congolese firms and labour
    Note: English
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  • 4
    Language: Undetermined
    Pages: 1 Online-Ressource (19 p.)
    Keywords: Agricultural economics
    Abstract: The aim of this chapter is to historically situate the case of mining in the Congo within its broader regional context. It is organized in three sections, each corresponding to a separate stage of the process that led to transnational mining corporations once again becoming the dominant force assuming ownership and management of industrial mining projects across the continent. The first stage involved a diagnosis of the economic challenges faced by African economies from the mid-1970s as due to misguided state intervention and government corruption. Based on this diagnosis, during the second stage, the IMF and the World Bank advocated for, financed, and in many instances directly oversaw the liberalization, privatization, and deregulation of mining sectors in low-income African economies. The third stage required criminalizing African miners involved in labour-intensive forms of production and, if required, forcibly displacing them to make way for the construction of capital-intensive, foreign corporate-owned mines
    Note: English
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