The best way to benefit the African people of these mineral riches is to transform them on the Continent. Africa also needs to develop a know-how and a firm political will by adopting new mining codes in each country respecting all the guidelines of the African Mining Vision adopted by the African Heads of State in 2009.
As long as we are sellers of raw materials and buyers of finished products, Africa will become poorer and one day we will end up with holes and the materials will dry up in a definitive way. “
African policies must require mining companies to register at the local stock exchange level, giving Africans more stock-buying facilities for these structures. “In Africa, there are no major mining companies listed on local stock exchanges”. Today, if we want to invest in mining, as Africans, we are obliged to do so via North American and European stock exchanges, essentially.
African states would also benefit from being more selective in the choice of their partners. “Not all mining companies operating in Africa are listed on the stock exchange, so they do not often care about their image, visibility, accountability and compliance with international standards. Hence the imperative for our states to be more selective in choosing their partners.
Over the last decade, several African mines have been under the Chinese flag, including those owned by major majors. The great fear is that Chinese companies are ignoring environmental and social rules, while Africa is trying to strengthen its control in terms of respect for the environment and the social rights of local people. “The environmental problem has to be taken into account upstream. Initially, the State should require an environmental and social impact study, to be validated by its technicians. The validated document must be the basis of the collaboration “although in Africa, the problem of the management of the mining operations arises especially at the level of the follow-up and the execution of the texts.
To ensure optimal exploitation of mineral resources, African states are also required to be more selective by opting for serious mining companies in the exploitation of their mining potential.
It is also very essential for a sustainable development of the continent, the African States must organize themselves to set the prices of mineral resources in Africa and not in London and Canada among consumers