Illegal diggings a threat to AU mineral-wealth vision
As commodity prices rise, the problem of illegal mining will worsen — unless governments and other stakeholders deal with it
The AU Commission created the Africa Mining Vision in 2009 that says it is "Africa’s own response to tackling the paradox of great mineral wealth existing side by side with pervasive poverty". Many governments in Africa have made major progress over recent years – mining companies are working hard to "put back" into society through skills development and environmental protection policies. The African mining industry has matured. Kenya’s 2016 mining act sets out the country’s aim of attracting up to 20 new mining companies. It provides for simplified permits for small-scale operations and simplified licences for larger companies. And the Angolan government is working on a new special tax regime for the sector that may include new incentives on tax-deductible costs and losses. Commodity prices are an important factor. After several years of unstable, low prices, the World Bank’s April 2017 Commodity Markets Outlook report forecasts that metal prices will rise 16% by the end of 2017. T...