May 19, 2020

Mining On Top: Africa Summit- Focusing on a new era of sustainability and investing in Africa’s mining industry

African mining
Press Release
Mining on Top: Africa Summit
Frankfurt
BERK GÜNDÜZ
3 min
Mining On Top: Africa Summit- Focusing on a new era of sustainability and investing in Africa’s mining industry

Frankfurt, Germany – July, 2017 – The 4th edition of Mining on Top: Africa Summit taking place from 6-7 July in Frankfurt, Germany will gather industry players and stakeholders to discuss the future in African mining projects and challenges in the mining sector to date. The conference will explore the issues of integrating mining into development policies at international, national and regional levels to attract and increase investment.

 

The global mining industry is currently experiencing a fluctuating precious metals market, with high volatility of commodity prices and rising exploration costs. Africa, being one of the most mineral-rich continents looked is to as a resource in solving these growing issues. The continent accounts for about 30% of the world’s total mineral reserves and has huge potential with regard to resources and production capacity. Investors globally are seeking opportunities to expand into new ventures in Africa, as it presents a new frontier for the mining sector.

 

The mining industry has emerged as a powerful engine of economic growth in Africa.  The continent hosts about 30% of the world’s total mineral reserves producing over 60 different metals and minerals and has huge potential for exploration and production in the future. ‘The boom in investment have contributed to the continent’s Gross Domestic Product (GDP) growth by 64 percent between 2000 and 2017.’ (https://www.ifc.org) Mining projects have contributed to development in the infrastructure by creating jobs and local procurement and through community investment projects. Through their engagement with the key stakeholders mining companies are identifying and building up on key sustainability issues, strategizing and then implementing the policies.

 

Africa’s mining potentials have increased in the recent past due to improvements in political systems and changes in fiscal and regulatory environments, leading to a rise in investments.  The increasing transparency of the extractive industry has had significant positive correlative effect on the revenue flows to the host countries. ‘Most of the African mining countries have joined the Extractive Industry Transparency Initiative (EITI) iv and through the EITI reporting process, the revenues accruing to governments from extractive sectors are documented and publicly disclosed. This process enables citizens to understand how much money is being paid to the government from different sources, which can help to ensure accountability for how those resources are managed.’ (https://www.ifc.org)


Mining on Top: Africa Summit will once again serve the mining community by providing a formidable platform to asses and synergise with the key players of the industry. Attendees will discuss the future of the African mining industry, share best practices for growth through sustainable operations and how to reduce environmental damage. Consequentially, this would encourage mining growth and thus lead to wider economic growth.

More information can be found at: http://ametrade.org/miningontopafrica/

 

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