African mining ministers adopt unified reporting code, hail Alake’s leadership
Ministers of mining from across Africa have adopted the Pan-African Resources Reporting Code (PARC) to enhance transparency and standardization in the continent’s mineral resource management.
The decision was reached during the sixth inter-ministerial meeting of the Africa Minerals Strategy Group (AMSG), where Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, was praised for his leadership in steering the group since its inception over a year ago.
Liberia’s Minister of Mines and Energy, Wilmot Paye, and South Sudan’s representative, Eruaga Jackson, commended Alake for promoting the AMSG on the global stage and boosting international interest in Africa’s mineral value addition agenda. They lauded his communication expertise and diplomatic engagement, which have attracted global partnerships.
In his remarks, Alake said the group’s achievements were due to collective efforts and revealed that Nigeria had completed the ratification process of the AMSG charter, paving the way for President Bola Tinubu to formally sign it.
He also briefed participants on the African Mineral and Energy Resources Classification and Management System (AMREC), developed by the African Minerals Development Centre (AMDC) in collaboration with PARC. Alake stressed the need for a harmonized reporting code to restore investor confidence and unlock development financing.
“The absence of a transparent mineral resource reporting framework has hindered asset valuation and development funding. Adopting the AMREC-PARC code will bridge this gap,” Alake said.
Gambian Minister of Petroleum, Energy & Mines, Nani Juwara, and Somalia’s Deputy Minister of Petroleum & Mineral Resources, Abdiwahab Abdi Omar, endorsed the proposal, describing it as a step forward in aligning Africa’s mining practices with global standards.
General Secretary of the AMSG, Moses Engadu, presented the group’s annual budget and announced plans to hold sideline events at the United Nations General Assembly, the African Minerals Summit in Kenya, and the African Natural Resources and Energy Investment Summit in Abuja.
