Chair of the International Bar Association’s Mining Law Committee

The Model Mining Development Agreement (“MMDA”) is an attempt by the Mining Law Committee to take an important step forward in an area that has long seen its share of conflicts and problems – the contractual relationship between host states and mining investors.

All of us share the vision that in the future mineral investment can increasingly catalyze and support sustainable development of the countries and regions where it occurs, and that we can find ways to avoid or minimize any negative environmental, social or economic impacts of mineral development. In other words, far from how it is so often perceived, mining can be a force for good.

We envision producing, by the time of the IBA’s annual conference in Vancouver in October 2010, a non-prescriptive, web-based, widely available resource that can lead to informed, transparent, and equitable negotiations and contractual outcomes. Our vision is that host countries and investors share an interest in the stability of the investment relationship, and that this stability is best achieved when host countries and regions secure sustainable and meaningful social and economic development.

We accept that a model agreement, albeit one of a non-prescriptive kind, cannot alone solve all of the problems. At most, it can be one element of a better future.

We invite you to participate, comment, and help us achieve the goal of a model contract negotiation tool.

Yours sincerely,

Peter Leon
Chair, IBA Mining Law Committee