Whole Africa Adopts Mining Vision, Expects Private Sector Buy-in

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All the 54 African Union member countries have adopted the African Mining Vision in order to ensure that mining activities contribute to economic transformation and benefit all African citizens and are optimistic that it will further accelerate private sector participation.

A policy dialogue at the 2017 Mining Indaba heard strong endorsements from public and private sector speakers for the Africa Mining Vision (AMV) Private Sector Compact which was launched at last year’s Mining Indaba.

The Compact is designed to close existing gaps between mining communities, the private sector and governments. It consists of a set of twelve principles designed to offer improved value and benefits to all parties involved. Governments and mining companies are encouraged to sign up to the Compact for themselves, using one of a number of flexible governance options.

In her welcome remarks, African Union Trade and Industry Commissioner, Fatima Haram-Acyl, said:

“The rationale for this year’s policy dialogue is based firmly on the reality that time has come for serious conversation on the need to identify strategies and mechanisms for promoting shared value and share benefits in this sector.”

All the 54 African Union member countries have adopted the African Mining Vision in order to ensure that mining activities contribute to economic transformation and benefit all African citizens. However, successful implementation hinges on buy-in from the private sector and other key stakeholders in Africa, at both regional and country levels.

South Africa’s Former President Thabo Mbeki, guest of honor of the special session, said:

“The Vision is important to the continent and we need a realization for this vision.”

The AMV Private Compact encourages cooperation by leveraging the business benefits that the private sector will derive from AMV implementation at national and regional level. It primarily targets mining companies including oil and gas, Chambers of Mines and other mining associations.

Daniel Kazungu Muzee, Mining Minister of Kenya, added:

“Our new mining act borrows heavily from the Africa Mining Vision. The AMV paves the way of sustainable utilization of mineral resources and good governance. To achieve this vision, we need to go back to the private sector.”

Kaijuka Richard, Uganda Chamber of Mines and Petroleum, was quoted as saying, “Whatever comes out of our resources must transform the society and we need the private sector for that.”

Other speakers included: Hon. Daniel Kazungu Muzee, Mining Cabinet Secretary, Ministry of Mines – Kenya; Hon. Osheak Tahir, Minister of State, Ministry of Minerals, Republic of the Sudan; Kaijuka Richard, Uganda Chamber of Mines and Petroleum; and moderator Frank Mugyenyi, Senior Industrial Advisor, African Union Commission.

The event was hosted by the African Union Commission in partnership with the United Nations Economic Commission for Africa through the African Minerals Development Centre (AMDC).

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