ABSTRACT
This chapter discusses the general evolution of the principle of permanent sovereignty over natural resources. It looks at the rights under the principle of permanent sovereignty over natural resources. There are various rights associated with the doctrine of permanent sovereignty of natural resources. The chapter focuses on the right to freely dispose of natural resources, the right to explore and exploit natural resources freely, the right to use natural resources for development and the right to regulate foreign investment. The chapter discusses the duties of States under the principle. There are also a number of duties espoused under the principle of permanent sovereignty over natural resources. These include the duty to exercise permanent sovereignty over natural resources for the purposes of national development, the duty to respect the rights of indigenous groups, the duty to treat investors in accordance with international law and the duty to compensate the investor in the event that the State unilaterally terminates a concession agreement.
