African leaders call for greater local processing of minerals

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African leaders used Monday's platform to press a common message on mineral policy: closer cooperation between governments, and more of the refining work done at home. They asked countries on the continent to align their mineral rules so that policies pull in the same direction from one state to the next. Their central demand was greater local processing, meaning ores should be refined and turned into finished products within Africa instead of being exported raw. The goal, as they framed it, is to create jobs and build industries at home, with the stated aim that the continent keeps more of the value of its natural wealth. Shipping out unprocessed raw materials has long been the dominant model, and it leaves mining states with thin revenue while larger margins are earned elsewhere. The statement available gave no binding targets and did not single out particular minerals. The appeal adds to a running debate in recent years over domestic value addition, in which several African governments have already moved to restrict raw mineral exports.

African leaders on Monday called for stronger cooperation among countries on mineral policies and increased local processing of mineral resources to create jobs, develop industries and ensure the continent retains more value from its natural wealth.

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