On March 7, 2016, Gowling WLG was pleased to host its first ministerial roundtable on mining. The event was chaired by the Honourable Michael Gravelle, Ontario's minister of northern development and mines, who was joined by mining ministers and deputy ministers from Sierra Leone (Hon. Minister Alhaji Minkailu Mansaray), Kenya (Hon. Principal Secretary Dr. Ibrahim Mohamed), Rwanda (Hon. Minister Evode Imena), South Africa (Hon. Deputy Minister Godfrey Oliphant) and Sudan (Hon. Minister Dr. Ahmed Mohamed M. Elsadig Elkaroui). The session was moderated by Gowling WLG's Avril Cole and Glenn Mullan, first vice-president, PDAC, and president, chief executive officer and chairman of Golden Valley Mines.
During the session, the ministers outlined mining sector opportunities and challenges in their respective jurisdictions, including various initiatives being contemplated or underway to encourage investment in South Africa and Sierra Leone during this period of economic downturn and uncertainty.
The discussion covered a broad range of topics of significance to all nations present, as well as for the province of Ontario, such as the importance of fiscal reform, certainty in the regulatory landscape, development of infrastructure and the role of innovation. The ministers from Africa also commented on the continuing importance of China's role in the development of Africa's infrastructure and mining sector, and the significance of corporate social responsibility and human rights due diligence - especially for countries such as Rwanda, a producer of 3T minerals, which has to contend with regulatory obligations imposed under the Dodd-Frank Act.
The ministers spoke of the need to look beyond boom and bust cycles and address the issues facing the mining industry on the African continent in a manner that enhances value for both industry and host governments, as reflected in the Africa Mining Vision.
It was made clear that despite the current market conditions, Africa is open for business and continues to present some of the best investment opportunities for the mining sector. Those investors prepared to take a long-term view will win out in the end.
Find out more about events hosted by Gowling WLG during PDAC 2016.
Gowling WLG has a long and successful track record of advising on transactions in the natural resources, energy, infrastructure, transportation and financial services industries across Africa. Our sector-focused groups are supported by our highly regarded white collar defence, international disputes and global tax teams. Learn more about our Africa Group here.