African Mining Ministers Unite to Adopt Pan-African Resources Reporting Code
By Charity Nwakaudu, Abuja
In a landmark decision aimed at transforming Africa’s mineral sector, mining ministers from across the continent have unanimously adopted the new Pan-African Resources Reporting Code (PARC). The resolution was reached during the sixth inter-ministerial meeting of the Africa Minerals Strategy Group (AMSG) held in Abuja, Nigeria.
Leadership Praised as Key to Progress
The gathering saw ministers commend Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, for his exceptional leadership in steering the AMSG. Liberian Minister of Mines and Energy Wilmot Paye and South Sudan’s representative Eruaga Jackson particularly highlighted Dr. Alake’s efforts in promoting the group’s agenda on international platforms.
“Dr. Alake has successfully marketed AMSG at various global conferences, bringing much-needed attention to our campaign for value addition in Africa’s mining sector,” Minister Paye stated during the proceedings.
Nigeria Leads by Example
In his opening remarks, Dr. Alake emphasized that the group’s achievements resulted from collective effort while announcing Nigeria’s progress in formalizing its commitment. “The procedures for full ratification of the AMSG charter by the Federal Republic of Nigeria have been completed, awaiting President Bola Tinubu’s formal signature,” he revealed.
The minister also encouraged more African nations to join the initiative, stressing the importance of continental unity in mineral resource management.
New Framework to Transform Reporting Standards
A central focus of the meeting was the presentation of the African Mineral and Energy Resources Classification and Management System (AMREC), developed in collaboration with PARC. Dr. Alake explained the critical need for this harmonized approach:
“The absence of a unified mineral resource reporting framework across Africa currently undermines investor confidence, hinders asset valuation, and limits access to development financing. This new system will establish common standards aligned with global best practices.”
The minister urged member states to implement the AMREC-PARC code for all exploration projects, whether government-funded or private sector-led, highlighting its potential to:
- Create a universal reporting language for African minerals
- Enhance the credibility of exploration results
- Provide an investor-grade foundation for project development
Continental Support for the Initiative
The Gambian Minister of Petroleum, Energy & Mines, Nani Juwara, and Somalia’s Deputy Minister of Petroleum & Mineral Resources, Abdiwahab Abdi Omar, both expressed strong support for the African Union’s efforts in developing this framework. Their endorsements underscored the growing continental consensus on the need for standardized reporting.
Future Engagements and Implementation
AMSG General Secretary Moses Engadu outlined upcoming engagements to promote the initiative globally, including:
- Sideline sessions at the United Nations General Assembly (UNGA)
- The African Minerals Summit in Kenya
- The African Natural Resources and Energy Investment Summit in Abuja
The meeting concluded with all participating ministers committing to facilitate the code’s implementation in their respective countries, marking a significant step toward unified mineral resource management across Africa.
Full credit to the original publisher: The Sun Nigeria