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>From Vision to Action: Mining Africa's Opportunities. <http://web.worldbank.org/shared/images/shim.gif> <http://web.worldbank.org/shared/images/shim.gif> Oby Ezekwesili with ministerial panel <http://siteresources.worldbank.org/INTSDNET/Images/O-Ezekwesili-@-Ministerial-Panel_1.jpg> World Bank Africa Vice President, Oby Ezekwesili with high level African Ministerial Panel February 13, 2012 When the curtain fell last Thursday at the “Investing in African Mining Indaba” conference in Cape Town, South Africa, countless business meetings and presentations had already taken place at the most important mining event on the African continent. Some 6,000 participants had come and gone, learned about the latest trends in the mining industry, exchanged views and leads about potential opportunities in Africa, and perhaps initiated and even closed some important deals. Participants represented more than 1,000 international companies and approximately 40 African and non-African government delegations. _____ S. Vijay Iyer <http://siteresources.worldbank.org/INTSDNET/Images/svijayiyer120_140.jpg> The Bank Group aims to improve the ability of resource-rich countries to effectively manage the mineral sector and attract investment, while enhancing the benefits for local communities. || S. Vijay Iyer, Director, Sustainable Energy Department, The World Bank For the World Bank Group, represented by a high-level delegation led by Vice President for Africa Obiageli Ezekewesili and top representatives from the IFC and MIGA, the annual Mining Indaba conference was a unique opportunity to showcase its latest thinking and practice on mining policy reforms, and discussed crucial governance issues like transparency and accountability in the sector. The World Bank also facilitated important dialogue between governments and industry to ensure that mineral-rich countries seize the development dividend from the wealth generated by the current commodities boom. “The Bank Group aims to improve the ability of resource-rich countries to effectively manage the mineral sector and attract investment, while enhancing the benefits for local communities,” said Vijay Iyer, the World Bank’s Director for Sustainable Energy, which includes the Oil, Gas and Mining unit. “It is crucial for governments to create enabling environments for responsible mining investment through appropriate policy and regulations that ensure a fair share of revenues to their most vulnerable populations.” Challenges & Opportunities Africa is rich in minerals. It is the world’s largest producer of gold, diamonds, and bauxite and has extensive iron ore, copper, and other mineral reserves. These mineral deposits do not follow political boundaries for they are located in mineral belts that often cross country borders. Developing these mineral resource corridors to the benefit of each country’s population poses challenges and opportunities to respective governments in terms of appropriate legal, fiscal, and regulatory frameworks, capacity building, and cross-border coordination – all of which are optimized on a regional rather than country-by-country basis. Mineral production and exports can make substantial contributions to government revenues and benefit communities, but for most African countries mineral resources have not yet translated into a source of sustainable development. In this context, and in line with the “Africa Mining Vision” (AMV) developed through the African Union, the World Bank is developing a framework for technical assistance to support African countries to address challenges and harness opportunities from mineral production for the benefit of their populations. What is the AMV? The Africa Union Summit of African Heads of State held in February 2009 adopted the AMV as a vehicle to resolve Africa's natural resource paradox. This vision states that the structural transformation of African economies must be an essential component of any long-term development strategy to ensure the achievement of the Millennium Development Goals (MDGs) in Africa, eradicate poverty and underpin sustainable growth across the region. The African Heads of State deemed urgent to root any resource-based African industrialization and development strategy in the utilization of Africa’s significant natural resources to catalyze diversified industrial development. This calls for strong collaboration from multi-stakeholder groups (including civil society and the private sector), most of which are increasingly endorsing the AMV. >From Vision to Action » How Can Mining Challenges be Addressed? • Improve sector governance and transparency. • Establish fair and stable fiscal and regulatory regimes. • Improve institutional and human capabilities to manage the sector. • Gather, record, and disseminate additional geo-scientific information. • Establish social and environmental regulatory frameworks and capacities. • Develop frameworks for ppp to foster inclusive, mineral-driven infrastructure development. • Encourage mining linkages to other local economic sectors.. The 2nd Ordinary Session of the Conference of Ministers Responsible for Mineral Resources Development, hosted by the African Union last December in Addis Ababa, launched the African Mining Vision Action Plan, an attempt to translate the AMV into concrete actions. The World Bank aims to play a catalytic role in helping countries implement the AMV’s action plan by considering policy interventions on the following topics: * Improving geological and mining information systems; * Building human and institutional capabilities to better manage and regulate the sector; * Promoting the formalization of artisanal and small-scale mining into the overall economy; * Establishing linkages from mining to other economic sectors and promoting local procurement of services and products as a way of boosting employment. The World Bank at Cape Town held a half-day session on Monday to discuss these topics, and also launched a new study, Increasing Local Procurement by the Mining Industry in West Africa, that calls on mining companies to boost economic growth in West Africa by purchasing more equipment, supplies and services from local companies. “Buying local goods and services is a catalyst for private sector development and sustainable growth,” said Obiageli K. Ezekwesili, World Bank’s Vice President for the Africa region, and a former Nigerian Minister of Extractive Industries. “Mining companies need to be transparent about informing local communities on procurement opportunities, so that these communities can benefit economically from mining operations. Mining companies should not only extract wealth, they must inject opportunity.” Paulo de Sa on a panel at Indaba <http://siteresources.worldbank.org/INTSDNET/Images/Paolo-de-Sa-at-Indaba_2.jpg> Paulo de Sa (Extreme left), Manager, Oil, Gas & Mining Policy Unit, The World Bank, on a panel discussion Ministerial Dialogues RELATED CONTENT Websites • <http://go.worldbank.org/DQLO7TWPR0> Mining, Oil and Gas Riches: From Elite Plunder to Development Promise • <http://go.worldbank.org/2Z7FZN9OY0> Making Gold Mining a Force for Development • <http://go.worldbank.org/95SG8YD8A0> World Bank’s Oil, Gas and Mining Unit • <http://www.gold.org/about_gold/sustainability/socio-economic/> World Gold Council • <http://eiti.org/> Extractive Industries Transparency Initiative • <http://go.worldbank.org/B1H1S35S70> EITI Multi-Donor Trust Fund • <http://siteresources.worldbank.org/INTSDNET/Resources/World_Bank_Brigitte_Bocoum_Presentation_WM_AMV_Indaba_2012_Cape_Town_Event_5Feb2012.pdf> Presentation of the Africa Mining Vision (AMV) • <http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTSDNET/0,,menuPK:4812133%7EpagePK:64885066%7EpiPK:4812134%7EtheSitePK:5929282,00.html> Sustainable Development Network The World Bank also held two high-level events, one focusing on the need to raise the bar of the Extractive Industries Transparency Initiative (EITI) process by broadening its scope beyond the mere publication and verification of payments received by governments. This session was co-moderated by Hon. Clare Short, Chair of the EITI Secretariat, and Obiageli Ezekewsili, World Bank VP for Africa. The other event focused on the international support to the AMV. Several ministers of mines participated in both of these dialogues at the Cape Town International Convention Center, along with representatives from civil society organizations and the private sector. The World Bank and the World Gold Council also co-hosted a session on “Gold for Development”. “The ultimate goal is to build a coalition to ensure great effectiveness and timely delivery of the AMV implementation,” explained Paulo de Sa, World Bank’s manager of the Oil, Gas and Mining Policy Unit. “Countries need to take advantage of the commodities boom to translate those revenues into much-needed schools, hospitals, roads, electricity, and other key infrastructure.” Contributed by Mauricio O Rios, Communications _____ No virus found in this message. 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