CAPE TOWN (miningweekly.com) – Delegates at a policy dialogue forum during the 2017 Investing in African Mining Indaba heard strong re-endorsements from public and private sector speakers for the Africa Mining Vision (AMV) Compact.
The AMV Compact was launched at last year’s Mining Indaba, where it received early support from the Mining Industry Association of Southern Africa (Miasa). The compact was designed to close existing gaps between mining communities, the private sector and governments.
It comprises a set of 12 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, outgoing African Union Commission (AUC) trade and industry commissioner Fatima Haram-Acyl explained that the rationale for this year’s policy dialogue was that the time had come for a “serious conversation” on the need to identify strategies and mechanisms for promoting shared value and shared benefits in Africa’s mineral resources sector.
She pointed out that all 54 AU member States had adopted the AMV Compact to ensure that mining activities contributed to economic transformation and benefited all African citizens.
However, Haram Acyl stressed that successful implementation of the compact hinged on buy-in from the private sector and other key stakeholders in Africa, at both regional and country levels.
Former South African President Thabo Mbeki, who was guest of honour at the special session, said the AMV Compact was important to the continent and it was crucial that its aims were realised.
He noted that the compact encouraged cooperation by emphasising the business benefits the private sector would derive from the AMV Compact’s implementation at national and regional levels.
Further, Kenya Mining Minster Daniel Kazungu Muzee informed the gathering that Kenya’s new Mining Act “borrowed heavily” from the AMV Compact.
“The compact paves the way for sustainable use of mineral resources and good governance and, to achieve this vision, we need to go back to the private sector,” he highlighted.
Uganda Chamber of Mines and Petroleum VP Kaijuka Richard added that whatever resulted from a country’s resources had to transform the society and, for this to be realised, the private sector needed to play its part.
Sudan Minister of Minerals Osheak Tahir also confirmed his country’s support for the AMV Compact.
The session was moderated by AUC senior industrial adviser Frank Mugyenyi and the event was hosted by the AUC in partnership with the United Nations Economic Commission for Africa through the African Minerals Development Centre.