The African Mining Vision (AMV) was adopted by the Heads of State and Government of the African Union as a continental framework for transparent, equitable and optimal exploitation of Africa’s mineral resources for broad-based sustainable growth and inclusive socio-economic development.
The VMA was motivated in particular by the paradox between the poverty of African people and the abundant mineral resources available to these countries. The VMA is thus intended as a response to the natural resource curse on the continent and aims to strengthen transparency, equity and optimal development of mineral resources.
The VMA principles recognize that in-depth knowledge of mineral resources and reserves, full transparency in the processes for awarding mining licenses and contracts, effective institutions, transparent and accountable management of generated revenues, economic diversification, creation of local added value, a formalized artisanal and small-scale mining sector as well as consideration of environmental and social issues are the foundation of sustainable management of mineral resources on the continent.
As part of the pilot phase of the diagnosis and assessment of the status of implementation of the VAM, the African Minerals Development Center (AMDC) selected the Democratic Republic of Congo (DRC), one of the countries on the continent with extraordinary mining potential and whose mining sector has experienced spectacular growth over the past two decades.
The DRC holds more than half of the world’s known cobalt reserves, more than 60% of coltan reserves, and 10% of the world’s copper reserves. The country is the world’s leading producer of cobalt, the world’s second-largest producer of copper, and also has significant deposits of diamonds, gold, zinc, lithium, nickel, uranium, and manganese. Thanks to the abundance of transition minerals in its subsoil (cobalt, coltan, copper, lithium, etc.), the DRC is now one of the key countries for achieving global clean energy transition goals in the fight against climate change.
Source: African Union
