Our services
Negotiation support
We support governments to negotiate complex contracts in the extractive industries, energy, and infrastructure sectors. Our advice facilitates commercially viable investment projects that maximise economic, social, and financial benefits for host governments and their citizens.
Financial modelling
We develop financial models of investment projects that are simple, transparent, and accessible, no matter how complex the project. All our models are built to the FAST Standard and we train our clients to use, update, and develop models.
Tax policy and audit
We help governments to design tax policies that are efficient, fair, and generate revenues to fund public services and investment. We also assist revenue authorities to audit taxpayers in the extractive industries with a focus on transfer pricing and mineral valuation.
Case studies and insight
Getting more durable deals in extractives: knowledge is a power best shared
Investors in extractives projects frequently ask for tax incentives that they claim are necessary for financial viability. But how are governments to judge these claims when investors don't share the underlying data?
Negotiating a royalty pricing agreement in Liberia
Countries often collect royalties on the sale of their natural resources, but how can they be sure the price is right when a mining company sells iron ore to its own steel mills?
About us
Iain Steel, Founding Director
Econias was founded in 2020 by Iain Steel, an economist who specialises in fiscal policy and the extractive industries. Iain has advised governments in Africa, Asia-Pacific, and Latin America on negotiations for investment projects in mining, oil and gas, and infrastructure worth tens of billions of dollars. He also advises governments on tax policy, financial modelling, and economic development.
Before becoming a consultant, Iain was a senior policy advisor at HM Treasury, where he was responsible for coordinating tax and spend policy during the global financial crisis.
Stefanie Heerwig, Associate
Stefanie Heerwig is an economist and public policy advisor with experience in mining taxation and the financial modelling of mining projects. Stefanie has worked with governments in West Africa, Asia-Pacific, and Latin America on the improvement of their mining tax regimes and the tax audit of mining companies. She has also advised governments on tax and fossil fuel subsidy reforms.
Stefanie is a former ODI Fellow and is fluent in French and Spanish.