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Essay / Governance of the mining sector
The growing failure of mineral prices in the international market, the growing debt crisis and the decline in revenues intended to finance socio-economic development in many African countries have refocused the attention to how to efficiently and most favorably utilize the continent's vast mineral resources. mining sector in rapid implementation of the African Mining Vision (AMV). Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get the original essay The Vision explores ways to stimulate open, fair and maximum exploitation of mineral resources to establish viable growth and progress socio-economic on a large scale. This sustainable gain is expected to shift from an interest-driven expansion model focused on extraction to a mineral-driven model that places advancement at the forefront and center of the minerals value chain, as well as upstream, downstream and secondary opportunities to reorganize the sector towards an engine of architectural transformation through industrialization and diversification. African countries did not prosper from the boom of the industrial revolution and continued to suffer deindustrialization as well as a lack of progressivity in economic instruments, including illegitimate leakages. Yet seven years after African heads of state adopted the AMV at their February 2009 summit, very few countries have adjusted their mining policies to the reform agenda, which seeks ways to encourage standard change in the governance of mineral resources. Nevertheless, these new developments have prompted new efforts to move towards achieving the AMV. In 2015, the AMDC (Africa Mineral Development Centre) announced the creation of an AMV company with the private sector. In March 2016, the AMDC organized a technical workshop to define a mining governance agenda in Africa to strengthen the use and auditing of the AMV. It is against this framework that the African Union Commission (AUC) and the United Nations Economic Commission for Africa (UNECA) organized a two-day high-level continent-wide roundtable. on March 21-22, 2016 in Addis Ababa, Ethiopia, to further examine ways to promote and implement the African Minerals Governance Framework (AMGF) for the AMV. The inclusive meeting brought together 120 stakeholders from various African governments, AU, ECA, AMDC, Pan-African institutions and civil society. The supervisory structure governs the seven key foundations of the AMV, in particular the tax regime and revenue management; geological and mineral information systems; strengthen human and institutional capacities; artisanal and small-scale mining; governance of the mining sector; linkages, investments and diversification; and environmental and social issues. (TJNA, 2016)