Resource nationalism remains a dominant talking point in the African mining and minerals sector as governments on the continent continue to take a hard line approach to extract more gains from their natural resource. According to Sylvestre Ilunga Ilunkamba, prime minister of the Democratic Republic of the Congo (DRC), mining stakeholders need to respect the changes countries in Africa have made to their mining codes.The DRC changed its code in 2018 amidst much opposition from mining houses – including the likes of Barrick Gold, one of the world’s leading gold producers.The main aim of changes, not only in the DRC but in several countries including South Africa, has been to increase the state’s share of the revenue generated by the sector, which historically has been low.“Mining codes are being revised to ref lect the aspirations of our people,” said Ilunkamba. “In the DRC we maintain that mining laws should be implemented in such a manner that they allow the Congolese people, first and foremost, to enjoy the benefits of the resources.”This, he said, did not mean that countries wanted to exploit mining companies. “The goal remains to create good environments for investors and to promote partnerships in the mining sector that are win-win for all the parties.”The DRC in particular has come under fire over the past few years as many companies claim that the new code has introduced instability into the mining sector.Ilunkamba said this was not true and that the revised mining codes being developed across the continent were in fact introducing more stability than ever before.“What we seek to do is no different from what every country does the world over. We want to enhance benef iciation in the best interests of our citizens,” said Julius Maade Bio, President of Sierra Leone. “We want to increase the proportion the extractives contribute to our GDP and to boost our country’s economic resilience. We are sure our investor partners understand this.”As companies, we know that your primary motive is to get adequate returns on your investment. Clearly, an investment would only make sense if it is profitable.”He said it was therefore imperative to jointly foster – as business and governments – ecosystems of predictability and trust in Africa.
INSERT: Mining laws should be implemented in such a manner that they allow the Congolese people to enjoy the benefits.– Sylvestre Ilunga Ilunkamba