ECOWAS Holds Africa Mining Vision, Mineral Policy Meeting
Wriiten by Francis Tandoh | From Spy Ghana
Public Officials from the Economic Community of West African States (ECOWAS) are meeting here in Accra to discuss the Africa Mining Vision (AMV) and the ECOWAS Mineral Development Policy (EMDP).
Ben Aryee, Advisor to the Minister for Lands and Natural Resources observed that the fiscal regimes on the African continent were not generating enough revenue for their respective economies.
He emphasized mining has the potential of contributing to the growth of economies but little has been achieved in the sector.
“We are not going to get different results if we continue to do the same old things with regards to how we have conducted affairs in the mining sector,” Aryee said.
Associate Economic Affairs Officer, Special Unit on Commodities of the United Nations Conference on Trade and Development (UNCTAD), Komi Tsowou said China has become a dominant force regarding the importation of minerals from Africa.
Speaking on the topic, “Global mineral commodity trends and their implication for Africa”, Tsowou observed that “China is increasingly becoming important in the mining sector on the continent as it is the leading importer of global commodity markets.”
The Asian country between2011-2012, he noted imported between 60 and 30 percent respectively of iron ore and copper from nearly 10 and 5 percent in 1995-1996.
Similarly, exports of minerals, iron ore and metals (MOM) from ECOWAS countries to developing countries, especially China he emphasized, have increased significantly between 2003 to 2013.
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