The country mining vision: towards a new deal

Abstract

The Africa Mining Vision (AMV) adopted by the African Union Heads of State and Government in February 2009 represents a paradigm shift away from a resource development model anchored on extractives toward one in which mineral resources are harnessed to accelerate broad-based development and build resilient, diversified, and competitive economies. The vision is premised on a broad understanding of value beyond mineral revenues. Those are to be managed in a transparent manner and invested in other forms of capital that can outlast the currency of mining. The AMV calls for strong economic and social linkages between the extractive sector and other sectors of the local economy as evidenced by the share of wealth that is retained locally and higher levels of value addition and local content. The successful implementation of the AMV requires strong and well-coordinated institutions, coherent and well-administered policies, and regulatory frameworks. Of vital importance, especially at country level, is the need to build multi-stakeholder platforms for dialogue and decision making. This paper discusses the Country Mining Vision (CMV) as an instrument to facilitate the implementation of the AMV at country level.