ACET convenes African Ministers for Mining to share how natural resources can be used for economic transformation
On the occasion of the 2013 Africa Mining Indaba in Cape Town, South Africa, ACET brought together four officials whose work significantly affects the contribution of mining to Africa’s economic transformation.
With more than 7,000 in attendance, the 19th Indaba, which ran from February 3 to 7, 2013, was a who-is-who affair for African mining. Titled “Harnessing natural resources for national development,” the panel comprised:
- Hon. Lamine Fofana, Ministère des Mines et de la Géologie, Republique de Guinée
- Hon. Sam Russ, Deputy Minister of Lands and Mines, Republic of Liberia
- Ismael Diakite, Managing Directior, Rio Tinto Guinée
- Antonio Pedro, Director, UNECA ` `
Panelists tackled the major steps in the extractive industries value chain, including attracting investment, monitoring and regulating operations, tracking government receipts, and spending revenue wisely to transform host country economies. Cutting across all these steps, transparency and accountability were highlighted as fundamental determinants of citizen benefit.
The session was hosted jointly by ACET and africapractice, an investment and communications consultancy. Marcus Courage, Managing Director of africapractice, served as host and Sheila Khama, Director of ACET’s Extractive Resource Service, moderated.
In a separate event hosted by DuPont sustainability solution and attended by about 200 industry professionals, Sheila Khama was a panelist together with representatives from IFC, Newmont and Vale. Ms. Khama highlighted the tensions between government and investors, which often leave many projects performing below their potential or, worse, leading to strife. She emphasized that both ssides need to make more concerted efforts to manage expectations and clarify roles.