During the Ministerial Roundtable yesterday, which kicked off the annual Africa Natural Resources and Energy Investment Summit (AFNIS) in Abuja, stronger measures to reduce raw mineral exports and increase value addition were the main topic of discussion amongst African mining ministers.

The actions include supporting indigenous miners, reviewing license fees, royalties, and charges upward, and requiring value addition in order to obtain a license.

African Minerals Strategy Group (AMSG) chair and minister of solid minerals development, Dr. Dele Alake, urged members to take control of their mineral resources and make the most of the world’s transition to renewable energy sources.

The Minister underlined how important it was for the summit to promote communication, exchange expertise, and reinforce the African Minerals Strategy Group’s (AMSG) emphasis on value addition for quick economic growth.

Dr. Alake emphasized the significance of Africa prudently exploiting its natural resources and efficiently using the generated revenue for the benefit of its citizens in her capacity as Chairperson of the AMSG, a forum of African Ministers of Solid Minerals/Mineral Resources.

“The Africa Natural Resources & Energy Investment Summit (AFNIS) presents an additional chance for us to further integrate our concepts and move them forward in order to achieve our declared goals. At the conclusion of our discussions, I hope Africa will understand and acknowledge our seriousness. “We are optimistic that with the backing of the ministers in attendance, we can secure our heads of state’s approval for the essential policy measures,” Alake remarked.

The Roundtable, with the theme “Sustainable Development for Africa’s Natural Resources,” offers a forum for exchanging ideas, sharing experiences, and providing policy guidance for transformative actions toward sustainable development, as AMSG Secretary-General Moses Engadu from Uganda emphasized in his remarks.

In her presentations, Malawi’s Minister of Mining Monica Chang’anamuno urged cooperation among African nations based on comparative advantages and urged the creation of concrete plans for infrastructure development, which is essential for the development of mineral resources.

Oumar Moussa, the deputy minister of petroleum, mines, and geology in Chad, suggested setting up centers of excellence for innovation and clean technologies, as well as an African fund for exploration and the development of continental expertise in the mining value chain.

Other speakers stressed that in order to fully utilize the natural resources of the continent for shared prosperity, agreements must be kept to and cooperation must be improved.

Insisting that his colleagues emulate Nigeria, Dr. Alake argued that significant indigenous representation in mining operations should be required for local content.

“We in Nigeria have a policy that states that licenses to foreigners cannot be granted without the involvement of a Nigerian partner. It is recommended that other African nations implement this policy. We have introduced initiatives like intra-African trade since AMSG’s founding, and I think we can not do this effectively without the active participation of our private sector, everywhere,” the Minister declared.

Secretary-General Engadu revealed the upcoming launch of the “Africa for Africans” initiative, which aims to establish the Africa Minerals Development Fund (AMDF) and innovative programs for mineral resource development. This announcement provides a glimpse into the action plan of the AMSG.

He said, “This fund will be championed by Nigeria and structured to assist local miners across the continent access necessary funding. It is inspired by Nigeria’s Solid Minerals Development Fund (SMDF).”

Nigeria, Uganda, Malawi, Democratic Republic of the Congo (DRC), Sierra Leone, South Sudan, Liberia, and Chad are among the nations represented at the Ministerial Roundtable. In addition, representatives from the continental private sector were present, including Nigeria’s Minister of Steel Development, Shuaib Abubakar Audu; Minister of State, Uba Maigari; and Minister of State for Environment, Iziaq Salako.