Development of an African mineral resource classification system now underway

Abstract

A pioneering initiative to set up an African Mineral Resource Classification (AMREC) system based on the United Nations Frameworks Classification for Fossil Energy and Mineral Reserves and Resources (UNFC) is now underway. Spearheaded by the African Minerals Development Centre (AMDC), AMREC is the continental framework that will harmonize, adapt, and develop the UNFC according to the principles of the Africa Mining Vision (AMV). The African-based framework, which is based on the UNFC and AMV, will enhance regional cooperation in sustainable development by providing a classification framework for management all energy and mineral resources on land, continental shelf and seabed. “Adopting the UNFC in the African context can be a tool to achieve transparent, equitable, and optimal exploitation of mineral resources for broad-based sustainable growth and socioeconomic development for the region.” He added that the new classification system for the region could add value to implement the AMV by supporting decision-making for investment and governance along the mining value chain in African countries.