Mkhululi Ncube, programmes officer at the African Minerals Development Centre, emphasized that the newly launched African Mining Vision (AMV) will revitalize Nigeria’s mining sector and foster broader economic transformation across the continent. The AMV focuses on integrating mining into industrial and social development, enhancing local industries and promoting economic growth through the linkage of mining activities with various sectors.
The AMV was introduced at the ongoing Nigerian Economic Summit in Abuja, presenting a private sector-led platform aimed at sustainable and responsible mineral sector development based on shared benefits. The initiative seeks to facilitate Nigeria’s adoption and implementation of the AMV while fostering collaboration among the government, communities, and private enterprises. It also establishes a partnership between the Nigerian Economic Summit Group (NESG) and the African Minerals Development Centre (AMDC) to oversee the AMV Private Sector Compact in Nigeria.
“This vision will transform the continent’s mining sector into a catalyst for broader economic transformation, emphasizing the integration of mining into industrial and social development,” said Ncube. He noted that this transformation will be driven by investments in linkages, resource-based industrialization, and enhanced local content and participation in the minerals sector.
Ncube also highlighted that the AMV Compact aligns with the core values and strategic plans of mining companies, moving beyond mere compliance with national legislation. He compared it to the UN Global Compact, which encourages businesses to align their strategies with ten universal principles regarding human rights, labor, the environment, and anti-corruption. He identified challenges in the sector, such as the absence of a regulatory commission, exclusion of sub-national governments, misaligned exploration strategies, and weak economic linkages.
“The AMV Private-Sector Compact offers a cost-effective way for the private sector to engage with key stakeholders,” he added, stressing the importance of this engagement in creating a thriving, transformative, and sustainable mining sector that meets the needs of the government, society, and businesses through the utilization of the AMV and its instruments.
