Business
STIFFER measures to cut raw mineral exports and boost value addition topped talks among African ministers of mining at the Ministerial Roundtable held yesterday to flag off the annual Africa Natural Resources and Energy Investment Summit (AFNIS) in Abuja.
The measures include an upward review of licence fees, royalties and charges, support for indigenous miners, and value addition as a condition for licences.
The Minister of Solid Minerals Development, Dele Alake, who chairs the African Minerals Strategy Group (AMSG), urged member-countries to ensure control of their mineral resources, leveraging the global shift to green energy to maximize the benefits of its mineral resources.
The Minister emphasized the summit’s role in fostering dialogue, sharing knowledge, and strengthening the African Minerals Strategy Group’s (AMSG) focus on value addition for rapid economic development.
As Chairperson of the AMSG, a forum of African Ministers of Solid Minerals/Mineral Resources, Alake highlighted the importance of Africa judiciously exploiting its natural resources and effectively utilizing the generated revenue for the benefit of its citizens.
” The Africa Natural Resources & Energy Investment Summit (AFNIS) is another opportunity to further consolidate our ideas and put them in motion towards attaining our stated objectives. I hope that at the end of our deliberations, Africa will know and recognise our seriousness. We are confident that through the support of Ministers here present, we can get the endorsement of our heads of state for necessary policy actions, “Alake said.
In this remarks, AMSG Secretary-General Moses Engadu from Uganda underscored that the Roundtable, themed “Sustainable Development for Africa’s Natural Resources,” provides a platform for exchanging ideas, sharing experiences, and offering policy guidance for transformative actions toward sustainable development.
Leading a cross-section of ministers in presentations, Malawian Minister of Mining, Monica Chang’anamuno, called for concrete plans for infrastructure development, critical for mineral resource development, and advocated for collaboration based on comparative advantages among African countries.
Chadian Deputy Minister of Petroleum, Mines and Geology, Oumar Moussa, proposed the creation of an African fund for exploration, development of continental expertise in the mining value chain, and centers of excellence for innovation and clean technologies.
Other speakers emphasized the need for commitment to agreements and enhanced collaboration to harness the continent’s natural resources for shared prosperity.
Urging his colleagues to take a cue from Nigeria, Dr. Alake made a case for local content, mandating substantial indigenous representation in mining operations.
“In Nigeria, we have a policy that we refrain from granting licenses to foreigners wholly; there must be a Nigerian partner. This is a policy other African countries should adopt. Since the inception of AMSG, we’ve introduced initiatives like intra-Africa trade, and I believe that we can not do this effectively without the active collaboration of our private sector, across board,” the Minister asserted.
Giving a glimpse into the action plan of the AMSG, Secretary-General Engadu announced the upcoming launch of the “Africa for Africans” initiative, aimed at innovative programs for mineral resource development and the establishment of the Africa Minerals Development Fund (AMDF).
According to him, “This fund, inspired by Nigeria’s Solid Minerals Development Fund (SMDF), will be championed by Nigeria and structured to assist local miners across the continent access required funding”.
Countries represented at the Ministerial Roundtable include Nigeria, Uganda, Malawi, Democratic Republic of Congo (DRC), Sierra Leone, South Sudan, Liberia, and Chad. Nigeria’s Minister of Steel Development, Shuaib Abubakar Audu; Minister of State, Uba Maigari; and Minister of State for Environment, Iziaq Salako, along with other continental private sector players, were also in attendance.
A.I
July 17, 2024
Tags: Dele Alake
