The Mining Investment Central America 2017 Conference, a strategic mining conference and exhibition for the leaders of the mining, quarrying, and construction materials industries, took place in Panama City on September 5-6, 2017. It brought together 200 attendees from 15 countries. Ministers, mining companies, investors, and service providers traveled from all over Latin and North America, Europe, the Middle East, and Asia for three days of partnering, networking, and business matching.
On September 5, 2017, Adalberto Elias, Natlaw’s Supervising Research Attorney, delivered a presentation entitled “Extending the Economic Benefits of the Cape Town Convention to the Mining Industry: The MAC Protocol.” Mr. Elias provided an overview of the Convention on International Interests in Mobile Equipment (Cape Town Convention) with an emphasis on the Preliminary Draft Protocol to the Cape Town Convention on Matters Specific to Agricultural, Construction and Mining Equipment (MAC Protocol). From 2014 to 2016, Natlaw was a member of the Study Group on the MAC Protocol at the International Institute for the Unification of Private Law (UNIDROIT). Natlaw’s work entailed analyzing different legal issues relevant to the international financing of Mining, Agricultural, and Construction equipment. It is possible that the MAC Protocol will be adopted in 2018.
Using the estimated economic benefits for other Protocols to the Cape Town Convention as a benchmark – for example, it is expected that the Aircraft Protocol will bring about savings in financing costs for aircraft equipment of up to US$161 billion from 2009-2030 – the MAC Protocol could substantially increase the availability of MAC equipment around the world.