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EFEDCOM President Urges Regional Unity for Mining Transformation 

December 21, 2024
Prince Agyapongby Prince Agyapong
in Extractives/Energy
0
Ghana mining industry

Ghana mining industry

The President of the West Africa Federation of Chambers of Mines (EFEDCOM), Mr. Adama Soro has emphasized the urgent need for regional cooperation to unlock the subregion’s full potential.  

Speaking at the EFEDCOM General Assembly, Mr. Soro outlined a bold vision for transforming West Africa into a global leader in sustainable and inclusive mining. 

“West Africa stands as a beacon of opportunity in the global mining landscape.

“Blessed with abundant natural resources, our subregion has the potential to lead the world in sustainable mining practices, economic transformation, and community empowerment. Yet, despite our shared ambitions, we lack true synergy.” 

Mr. Adama Soro, President of EFEDCOM

West Africa is home to some of the world’s richest deposits of gold, bauxite, iron ore, and other critical minerals.  

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However, despite the region’s immense natural wealth, the mining sector faces challenges that undermine its potential. Fragmented policies, inconsistent regulatory frameworks, and limited cross-border collaboration have resulted in suboptimal outcomes for many countries. 

Mr. Soro acknowledged the progress made by regional organizations like the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU).  

However, he lamented their limited impact on fostering mining sector collaboration. According to the EFEDCOM President, these institutions must move beyond rhetoric to practical, results-driven implementation. 

“Our mining policies remain too fragmented, and as a result, we miss out on opportunities for regional collaboration.

“True integration requires us to go beyond individual efforts and think collectively as a region.” 

Mr. Adama Soro, President of EFEDCOM

As the umbrella body for mining chambers in the region, EFEDCOM has a pivotal role to play in realizing this vision. Mr. Soro positioned the organization as the bridge between public and private sectors, capable of driving policies that reflect the collective ambitions of West African nations. 

“EFEDCOM has the power to unite our region and spearhead transformative policies,” he asserted. “By fostering collaboration, we can ensure a legacy of cooperation and prosperity for future generations.” 

Key Proposals for Regional Integration 

Mr. Adama Soro, President of EFEDCOM
Mr. Adama Soro, President of EFEDCOM

Mr. Soro outlined several actionable steps to achieve a cohesive and prosperous mining sector in West Africa. One of the central themes of Mr. Soro’s address was the need for a harmonized regulatory framework for mining across the region.  

He highlighted how disparate laws and regulations create operational uncertainties and deter foreign investors. 

“Each country currently drafts its own legislation, often restricting cooperation even with neighboring nations.

“Let us work with ECOWAS and WAEMU to develop a mining legislation model that inspires and guides our individual countries.” 

Mr. Adama Soro, President of EFEDCOM

A unified framework, Mr. Soro argued, would create a more predictable and attractive environment for international investors while reducing bureaucratic hurdles for cross-border projects. 

West Africa’s mining industry often relies on foreign expertise and resources. Mr. Soro proposed policies to harness local content and leverage regional supply chains. 

Artisanal and small-scale mining (ASM) represents a significant share of West Africa’s mining activity, often involving cross-border operations. However, it is plagued by issues such as environmental degradation, unsafe labor practices, and limited government oversight. 

Mr. Soro called for a regional strategy to manage ASM, emphasizing sustainability and formalization. “By working together, we can ensure better control, greater accountability, and sustainable development in this crucial sector,” he stated. 

Drawing inspiration from global mining platforms like Mining Indaba in South Africa and the PDAC in Canada, Mr. Soro proposed establishing a flagship event to represent West Africa’s mining sector.  

“West Africa’s mining sector stands at a crossroads. Will we continue to walk separate paths, or will we join hands to build a future defined by cooperation, resilience, and shared prosperity?

“The choice is ours to make, and the time to act is now.” 

Mr. Adama Soro, President of EFEDCOM

This call to action resonated with the General Assembly attendees, many of whom expressed support for the President’s vision.  

READ ALSO: Prof. Asare Calls for Bold Measures to Combat Corruption 

Tags: Critical mineralsForeign Investorsminingnatural resourcessmall-scale mining
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