In an effort to enhance value addition and reduce the export of raw minerals, African ministers have incorporated a series of stiffer measures aimed at regulating the industry.
The Minister of Solid Minerals Development, Dr. Dele Alake, who chairs the African Minerals Strategy Group urged member countries to ensure control of their mineral resources, leveraging the global shift to green energy to maximize the benefits.
“The proposed measures include an upward review of license fees, royalties, and charges, as well as support for indigenous miners and making value addition a condition for licenses,” A statement on Wednesday by the Special Assistant on Media to the Minister, Segun Tomori read.
Emphasising the summit’s role, Alake stated, “The Africa Natural Resources & Energy Investment Summit 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 recognize 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.”
AMSG Secretary-General, Moses Engadu from Uganda highlighted the Roundtable’s theme, “Sustainable Development for Africa’s Natural Resources,” as a platform for exchanging ideas, sharing experiences, and offering policy guidance for transformative actions toward sustainable development.
Malawian Minister of Mining, Monica Chang’anamuno, stressed the need 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 centres of excellence for innovation and clean technologies.
Alake called 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 the board,” Alake asserted.