Nigeria, AFDB Back African Mineral Local Value Addition
Alake urged African ministers to adopt a home-grown reporting code and regional processing hubs as the continent seeks more value from its minerals.
- At the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation in Abidjan, Solid Minerals Development Minister Dele Alake urged African nations to pursue strategic interdependence and regional cooperation to maximize mineral wealth benefits.
- Alake emphasized trade fragmentation, noting that intra-African trade accounts for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.
- The Minister proposed adopting the Pan African Resource Reporting Code , a home-grown framework, to replace the outdated Australia-based Joint Ore Reserves Committee standard for assessing mineral assets.
- To lower costs and share development risks, the Minister called for stronger regional cooperation through a West African minerals processing hub modelled on the Lobito Corridor.
- Participants concluded that integrated regional infrastructure, greater control of mineral data, and local value addition are essential to ensuring the continent's mineral wealth translates into broad-based and sustainable economic transformation.
12 Articles
12 Articles
Nigeria, AfDB push for African control of mineral wealth, local value addition
Mr Alake, who chairs the Africa Mineral Strategy Group (AMSG), said Africa must move beyond exporting raw minerals and focus instead on value addition, local processing, and industrialisation to achieve economic independence. The post Nigeria, AfDB push for African control of mineral wealth, local value addition appeared first on Premium Times Nigeria.
Nigeria, AFDB Back African Mineral Local Value Addition
Nigeria and the African Development Bank (AfDB) have called for stronger African control over the continent’s vast mineral resources, advocating data sovereignty, regional collaboration and strategic financing as essential to ensuring that mineral-rich countries in Africa derive greater economic value from their natural assets.Addressing the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformatio…
FG, AfDB seek greater African control of critical minerals
Nigeria and AfDB advocate for stronger African control over critical minerals, urging data sovereignty, regional collaboration, and local processing to boo Read More: https://punchng.com/fg-afdb-seek-greater-african-control-of-critical-minerals/
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Africa Must End Raw Mineral Exports To Boost Industrialisation –Alake
African leaders have been urged to accelerate the local processing of the continent’s vast mineral resources in a bid to create jobs, boost industrialisation and retain more economic value within Africa. Speaking at the African Development Bank(AfDB) Ministerial Forum in Abidjan, the Chair of the Africa Mineral Strategy Group who is also Nigeria’s Minister of Solid Minerals, Dele Alake called on African governments to break the long standing pat…
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