African nations are reportedly considering a single standardised set of continental mining policies, Zambian officials say.
Speaking yesterday, Christopher Yaluma, the Zambian mining and energy minister, said African countries are looking at forming an alliance to standardise the very different mining policies across the continent, according to The People Daily.
Yaluma explained that it is also aimed at deterring companies from exploiting countries with rich resources.
“Zambia, like many other countries, has not maximised benefits from the mineral resource. We have come together to look into ways of ensuring that the same mining standards are applied everywhere so that, if say, Zambia turns down a mining prospector, [the investor] will not go to Zimbabwe or Angola because the standards will be the same,” he told the Zambia Daily Mail.
He went on to say there will also be a greater push, in a similar vein to Australia, for more locally manufactured content on site.
There is currently no word from other African countries on the potential of a cross border standardised set of mining policies.