AUC looks to boost Africa's economy with low value minerals sector
The initiative was spearheaded by the African, Caribbean, and Pacific (ACP) Group of States and funded through the European Union (EU) and United Nations Development Programme.
Since Africa is experiencing growth in its economy and infrastructure, the need for urban development is increasing, creating the demand for construction materials, dimension stones, industrial minerals and semi-precious stones.
“The African Mining Vision (AMV) represents the main continental vision of translating Africa’s mineral resources for economic growth and structural transformation of mining economies," Fatima Haram Acyl, AUC commissioner for trade and industry, said.
The LVMM sector in Africa has historically been largely ignored. And with the sector's policies not being well-designed or implemented, miners don't have access to the rights, financial services, market information and technology they need to perform their jobs safely and efficiently.
"Many ACP countries, African countries, have adopted policies, legislation and regulatory frameworks that place the LVMM subsector at the centrer stage of development,” Patrick I. Gomes, secretary general of the ACP Group of States, said.
This climate makes developing these policies even more critical.
“This will ultimately contribute to sustaining the higher level equitable development trajectory that ensures that no one is left behind,” Lebogang Motlana, director of UNDP’s Regional Service Centre for Africa, said.