Prior to the commencement of the official 'Investing in African Mining' Indaba, held in Cape Town in February 2016, the Mining Industry Association of Southern Africa (MIASA) at its meeting on 6 February 2016, expressed support for the African Mining Vision Compact with the private sector.
Formally adopted by African heads of state in 2009, the Africa Mining Vision (AMV) 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. During Mining Indaba, the African Union Commission and the African Mineral Development Centre (AMDC) announced the launch of the compact with the private sector, in order to incorporate mining companies into the AMV process and close the existing gap between mining communities, the private sector and governments. The AMV Compact was presented to MIASA during a meeting held in Cape Town on the Saturday before Mining Indaba's official commencement.
During the meeting it was agreed that a refining of mineral policies would be necessary in order for them to align with the African Mining Vision. The envisaged roles of MIASA and Chambers of Mines in realising the Compat were also clarified.
Speaking about the Compact at a speech delivered at Mining Indaba, AU Commissioner of Trade and Industry Her Excellency Mrs Fatima Acyl said, "This Compact represents a mutal acknowledgement between states and mining companies that the transformation intended by the African Mining Vision requires the involvement of all players in the sector. We believe it is an important - and exciting - step towards even greater collaboration and coordination between African governments and private industry in achieving development."
For more information, please contact:
Daisy Leoncio, Communications Officer, African Mineral Development Centre
