Delegates discuss challenges of mining and petroleum contract negotiations in Africa
The United Nations Economic Commission for Africa here in Addis Abeba has hosted a two day meeting starting April 5 to address some of the challenges African countries are facing in relation to securing benefits from natural resources.
The Policy Dialogue on the Challenges Faced by African States in Mining and Petroleum Contract Negotiations was organized in collaboration with the African Minerals Development Centre (AMDC) and the African Institute for Economic Development and Planning (IDEP) and the African Mining Vision.
The delegates from mining and petroleum producing African states have deliberated to establish, among other things, a network of African Experts for negotiations of mining and petroleum contracts.
Mining and petroleum contracts throughout the continent, thus far, are limited to technical experts in the sector. The dialogue is aimed at broadened it to include specialists such as lawyers, tax specialists, economists, environmentalists, sociologists, or political scientists. During the dialogue ‘model contracts’that may be used by member States in the process of mining and petroleum contract negotiations were formulated. These negotiations can culminate in “win-win” partnerships, taking into account both international legal rules and specific requirements established by the African Mining Vision.
The African Mining Vision was adopted by heads of states and governments at the 2009 AU summit as a response to tackling the paradox of great mineral wealth existing side by side with pervasive poverty.
Directors of mining, natural resources, high level officials of petroleum producing member States, regulators, environmentalist and beneficiation experts and practicing lawyers have attended the dialogue.
