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A policy dialogue at the 2017 Mining Indaba heard strong endorsements from public and private sector speakers for the Africa Mining Vision (AMV) Private Sector Compact.
The AMV Compact was launched at last year’s Mining Indaba, where it won early support from the Mining Industry Association of Southern Africa (MIASA). The Compact is designed to close existing gaps between mining communities, the private sector and governments. It consists of a set of twelve principles designed to offer improved value and benefits to all parties involved. Governments and mining companies are being encouraged to sign up for the Compact themselves, using one of a number of flexible governance options.
The Indaba special session was set up to facilitate an open dialogue, guided by Compact principles, between governments and the private sector to explore areas of consensus and possible win- wins.
In her welcoming remarks, African Union Trade and Industry Commissioner, Fatima Haram-Acyl, said:
“The rationale for this year’s policy dialogue is based firmly on the reality that time has come for serious conversations on the need to identify strategies and mechanisms for promoting shared values and share benefits in this sector.”
All the 54 African Union member countries have adopted the African Mining Vision in order to ensure that mining activities contribute to economic transformation and benefit all African citizens. However, successful implementation hinges on buy-in from the private sector and other key stakeholders in Africa, at both regional and country levels.
Former President Thabo Mbeki, guest of honor of the special session, said:
“The Vision is important to the continent and we need a realization for this vision.”
The AMV Private Compact encourages cooperation by leveraging the business benefits that the private sector will derive from AMV implementation at national and regional level. It primarily targets mining companies including oil and gas, Chambers of Mines and other mining associations.