World Bank-led, online database brings transparency to Africa's mining sector

By mahlokoane percy ngwato

Laws and regulations covering mineral resources across all 53 African countries will become freely available via a World Bank-led online mining database, the African Mining Legislation Atlas (AMLA) by the end of the year.

Recently-appointed SARChI Research Chair for Mineral Law in Africa, Professor Hanri Mostert at UCT, which is AMLA’s curating partner, said: “It is well known that one of the barriers to investment in the African resource sector is the absence of certainty about legal frameworks for investors’ trying to make decisions on whether to invest in a particular jurisdiction or not.

“More astonishing is how inaccessible information to these legal frameworks can be, even in jurisdictions that have comprehensive laws governing the mineral resource sector. In some countries, documents as basic as mining statutes are not freely available at all. That can be a major deterrent to international investors.”

Apart from enabling a more transparent mining sector, accessibility of information and making resource investment decisions in Africa easier, AMLA also aims to build indigenous capacity for the creation and implementation of legal frameworks and governance.

Monstert said: “There is a real need for laws in African countries to take into account the realities of a modern day market economy and current mining techniques, but also the value systems of the jurisdictions that must be served by these laws.

“Right now, doom and gloom seem to dominate debate about African mineral resource extraction, due to the drop in commodity prices. However, an economic slump provides a window of opportunity for many African countries to consolidate and improve their legal frameworks governing extractive enterprises.”

Stay Connected! Follow @AfricaBizReview and @MrNLon on Twitter. Like our Facebook Page.

Read the October Issue of African Business Review. 

SOURCE: [Mining Review]

Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology