Minerals – who are the beneficial owners

In an earlier post, we had discussed who owns minerals in India under the Constitution. In broad terms, state governments usually own onshore minerals, all offshore minerals are owned by the union government. There are two additional aspects of minerals to consider, the public trust doctrine and the intergenerational equity principle. The Public Trust Doctrine, an integral part of common law …

Scroll : Goa mining judgement is a first

A beautiful, albeit dated, summary by Mridula Chari of the unprecedented nature of the Goa mining judgement for we the people, our children, and our future generations. “Observing that natural resources belonged to the state, which is a trustee of its citizens, the court ordered that a part of the profits from the sale of iron ore be set aside for a permanent …

P2P Foundation blogs on the Goenchi Mati campaign

David Bollier, author, activist, blogger and consultant on the commons, calls the Supreme Court order in the Goa mining case setting up the Permanent Fund as a bold precedent, “the first time that a court anywhere had ordered such a remedy, and it resulted in the first permanent fund in India.” Something Goa should be proud of!

Avoid resource curse through Permanent Funds – Brookings

The Brookings Institute has recommended that US states Pennsylvania and Ohio establish Permanent Funds from their taxes from oil & gas fracking. This is similar to our proposal relating to the Goenchi Mati Permanent Fund. Devashree Saha & Mark Muro in their report titled “Permanent trust funds: Funding economic change with fracking revenues” advance five elements of good fund governance and management …

Nauru’s Citizen’s Dividend

The tiny pacific island of Nauru is a cautionary tale for mineral royalties being saved in a Permanent Fund and paying out a Citizen’s Dividend. The island was covered by guano, a form of phosphate, a fertilizer. The royalties from phosphate mining resulted in Nauru having the highest per capita income in the world. The phosphate royalties were paid into the Nauru …

Iron ore mining in Goa

The Navhind Times carried a couple of interesting articles by Dr. Nandkumar Kamat titled “How Goa missed the bus in iron ore exports”. His articles show clearly how Goa lost out during the mining stoppage. This new article titled “Mining of past 8 years was a total loss for our future generations” published by Navhind elaborates on Dr. Kamat’s articles. You can …