Topic > Governance of the mining sector

The increasing failure of mineral prices on the international market, the growing debt crisis and the decline in revenues to finance socio-economic development in many African countries have refocused attention on how to use efficient and more conducive to the continent's vast mineral resources sector through the timely application of the African Mining Vision (AMV). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The Vision explores ways to stimulate open, fair and maximum exploitation of mineral resources to establish broad-based sustainable growth and socio-economic progress. This sustainable gain should shift from an extraction-led expansion model that puts interests first, towards a minerals-centric model that places progress front and center of the minerals value chain, alongside upstream opportunities , downstream and secondary to renew the sector to reach a higher level. engine for architectural transformation through industrialization and diversification. African countries did not prosper from the boom of the industrial revolution and continued to suffer from deindustrialization and lack of progressivity in economic tools, including illegitimate losses. Yet, seven years after African heads of state adopted the AMV at their February 2009 summit, very few countries have adapted their mining policy to the reform agenda, which seeks ways to encourage standard change in mineral resources governance. Nonetheless, these new developments have spurred the resumption of efforts to move towards AMV compliance. In 2015, the AMDC (Africa Mineral Development Centre) announced an AMV company with the private sector. In March 2016, AMDC hosted a technical workshop to outline an African mining governance framework to strengthen the use and control of AMV. It is against this framework that the African Union Commission (AUC) and the United Nations Economic Commission for Africa (UNECA) convened a two-day high-level continent-wide roundtable on 21 and 22 March 2016 in Addis Ababa, Ethiopia, to further explore ways to promote and develop the African Minerals Governance Framework (AMGF) for the AMV. The all-encompassing meeting brought together approximately 120 stakeholders from various African governments, AU, UNECA, AMDC, pan-African institutions and civil society. The supervisory structure directs all seven key foundations of the AMV, particularly the tax regime and revenue management; geological and mining information systems; build human and institutional capacity; artisanal and small-scale mining; governance of the mining sector; connections, investments and diversification; and environmental and social issues. (TJNA, 2016)