An Africa Mining Vision (AMV) Compact was forged between the mining industry and African host governments at an event on the sidelines of the annual Investing in African Mining Indaba held in Cape Town this month.
The Compact outlines a number of commitments and undertakings by host governments and mining companies to realise the benefits outlined in the Africa Mining Vision.
Formally adopted by African heads of state in 2009, the Africa Mining Vision is the continent’s own response to tackling the paradox of great mineral wealth existing side by side with pervasive poverty. Simply put, the AMV outlines the roadmap to the transparent, equitable and optimal exploitation of mineral resources to underpin broad-based sustainable growth and socio-economic development in Africa.
Frank Dixon Mugyenyi, Senior Trade Advisor of the Department of Trade and Industry in the Africa Union Commission (AUC) delivered the keynote speech on behalf of H.E. Mrs Fatima Acyl at a dinner hosted by the African Development Bank, under the leadership of its African Natural Resources Center.
“This Compact is a concrete step forward in aligning key interests around the implementation of Africa Mining Vision with those of the business community,” said the Commissioner.
“The goal of the Compact is to strengthen trust and mutual understanding of challenges as well as opportunities for implementing the Africa Mining Vision,” he said.
The Compact outlines a number of commitments and undertakings by host governments and mining companies to realise the benefits outlined in the AMV.
Its launch was acknowledged by Simon Tuma Waku on behalf of the Mining Industry Association of South Africa (MIASA), representing Chambers of Mines from across the Southern African Development Community region, who also addressed the dinner audience.
“The Compact contains a set of standards that would serve as a benchmark for companies and governments to assess performance, resulting in robust policies that cover a range of principles,” Mugyenyi said.