EXPLOITATION OF MINERAL RESOURCES

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The Africa continent is so rich with natural resources to name a few; oil, diamonds, gold, iron, copper, cobalt, uranium, bauxite, silver, tropical fruits, forestry and fishery that one can say comes as a ‘blessing’ upon those Countries with such resources. Activating these natural resources endowments as God’s favour or benefit for the common for sustainability and equitability is worthy to be praised and glorified. In this light, whatever Government and international body that embraces this so called ‘blessing’ in the interest of the commons will be doubtlessly a creditable aspiration and vision.

These regions with vast and diverse natural resources, contribute greatly to their Countries’ economy but these economic gains are only realised with good governance. However, negative globalisation and corruption from these governances has seen devastating effect on the commons with competition for land, environmental and socio-economic empowerment for sustainability evaporating.

The roles of institutions set up by governments and their policies have not been helpful in any way to the Countries most especially the communities were these resources have been exploited. Fiscal policies will not be transparent to the nation, low revenue earned by government from the natural resources due to the considerable number of waivers and lower fiscal imposts imposed by Government. How these contracts licences are granted and to whom or what company (ies) creates concerns about institutional deals to the detriment of the Country. This kind of governmental behaviour normally does not create robust checks and balances on company’s responsibilities on the Local community and the entire Country. Sadly, citizens make accusations of the government failure to make known to the public details of negotiation and licences acquirement.

Despite universal acknowledgement that African Countries with natural resources wealth face special opportunities and special challenges. However, if they African Countries are given honest support and direction with appropriate management of their resources, can create greater prosperity for current and future generations; but if used poorly they can cause economic instability, social conflict and lasting environmental damage.

Hence, land continues to hold its values above everything for whatever purpose(s) in considering sustainable natural resources exploitation. It is therefore particularly disappointing to see companies from wealthy nations continuing to connive with corrupt African governance to exploit their natural resources in impoverishment.

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