Comparative issues in civil and common law contracts

"At first glance, the activities related to mining and mineral exploration appear to be local or domestic, rather than international, in nature. Minerals, as corporeal or tangible property, form an integral part of the land in which they are found until extracted and exploited commercially. Even in the latter phase, the tangible nature of minerals gives the impression that the law governing the commercialization of minerals is the law of their situs at any given time. The nature of minerals appears to negate the international aspect of mineral enterprises.The fundamental flaw in the above analysis is its focus upon the nature of minerals, rather than the role of persons in mineral enterprises. The high costs of mineral exploration and commercialization invariably require the involvement of international consortiums or joint ventures. Governments may not have access to the funds necessary to exploit the mineral resources that they control. Local or domestic enterprises may not have sufficient expertise for mineral exploration. Further, markets for various types of minerals are far from localized or static. For these and other reasons, the tangible and localized nature of minerals belies the fundamentally international nature of mineral exploration and commercialization."