[ad_1]
Company News from Wednesday, February 6, 2019
Source: Lambert Akwa
2019-02-06
President Akufo-Addo and President Ramaphosa at the Indaba Mining 2019
The African mining sector has always been a center of global interest; Countries such as Ghana and South Africa continue to be world leaders in gold mining and the continent as a whole holds 22% of world gold production.
Congo and Botswana also produce 55% of the world's diamonds and, globally, 30% of the world's mineral reserves are on the continent.
These include gold, diamonds, cobalt, oil and natural gas, among others. Despite previous exploration efforts, sustained investment and prospects for the African mining sector, various reports indicate that only 5% of the total budget for exploration and mining is invested on the continent.
While this may be considered a slow development, in many ways it highlights the potential of the African mining industry, especially given the appropriate regulatory and legal framework.
The potential and growth of the mining industry, as well as the need for transparency and regulation, were among the main issues discussed at the annual Mining Indaba 2019 conference in Cape Town, South Africa. Officially called Investing in African Mining Indaba, the conference is dedicated solely to the successful capitalization and development of mining interests in Africa.
Over the past 25 years, this event has brought together investors, mining companies, governments and other stakeholders from around the world to learn and build relationships, all for the sole purpose of advancing the mining sector on the continent.
As Chief Advocate at Mining Indaba 2019, Her Excellency Nana Addo Dankwa Akufo-Addo has highlighted the importance of minerals as a public resource and the need for transparency in negotiations between countries and companies . In recent years, the issue of legal frameworks that facilitate this transparency, in relation to the development and sustainability of mining, has been a hot topic in the industry.
In the past, critics have suggested that mining in Africa has returned to pre-independence standards, in which a legal regime existed primarily to facilitate the profits of mine owners. The legal debate thus served as the basis for deliberations on the importance of respect for investor integrity and respect for the sovereign wealth of African countries, as well as a crucial rallying point for all key stakeholders.
ENSafrica, Africa's largest law firm, facilitated the debate on these and other mining issues at its annual VIP luncheon attended by President Akufo-Addo, President Ramaphosa, senior officials from all over the world. Africa, as well as members of the Australian Government, who co-organized the lunch.
The company operates mining development, project financing, mergers and acquisitions, occupational and mine health and safety, conflict resolution, labor law, mining taxes, mining titles and mining law. as well as the engagement of communities and stakeholders in Africa. advised on operations in the mining sectors across the continent.
The company, which has 12 offices in Africa, has helped international and regional mining companies solve a variety of issues related to the acquisition, development, operation and closure of mining badets.
The facilitation of ENSafrica in the Mining Indaba discussions was therefore important and in line with President Akufo-Addo's appeal: "Africa must have its own clever and clever lawyers, accountants and engineers to negotiate business transactions transparent and honest. "
This call for a good representation of the interests of Africans is particularly crucial, as investors are often confronted with a constantly changing legal landscape and the lack of certainty as to the legal frameworks to try to decide to invest in them. particular African jurisdictions.
President Akufo-Addo further stated: "We must conclude fair deals for both sides and rebadure Africans, who have suffered for a long time, that they are no longer treated unfairly," adding that Mining contract review is important for more to earn more revenue. "
While recognizing that companies that come to do business in Africa must make profits, the president also stressed the need to operate in conditions similar to those of other regions of the world.
With the rapid growth of the mining sector, and the mining industry in particular, it is clear that Africa is also developing to address the legal and regulatory challenges that accompany the territory. The emergence of local legal expertise from companies such as ENSafrica allows Africa to be heard when it negotiates its place in the international market and its interests are well represented.
Source link
