Africa: $8.6trn Mineral Endowment Undeveloped in Africa - AFC: [Daily Trust] Africa hosts an estimated US$29.5 trillion in mine-site mineral value, representing about 20% of global mineral wealth, yet captures only a fraction of the economic value embedded in this endowment, a new study released yesterday by Africa Finance Corporation (AFC) has shown. http://newsfeed.facilit8.network/TQvCpR #Africa #Minerals #Wealth #MiningIndustry #EconomicDevelopment






![<p>MANILA, Philippines – A coalition challenging large-scale mining called on the government to pass an anti-dynasty law, echoing a broad progressive movement in protest of the political dynasties connected to the <a href="https://www.rappler.com/topic/corruption-in-the-philippines/">corruption scandal</a> in the country.</p>
<p>“When politicians are beneficial owners or when politicians are part of the value chain of mining operations, we cannot expect compliance with environmental laws and other regulatory policies,” said Jaybee Garganera, national coordinator of Alyansa Tigil Mina (ATM), on Thursday, December 11.</p>
<p>Advocacy watchdog Global Witness and ATM released a report Thursday linking nickel mined in the Philippines to leading manufacturers of electric vehicles.</p>
<p>The report traced ties between <a href="https://marcventuresholdings.com.ph/corporate-profile/">Marcventures Mining and Development Corporation</a> – linked to the President’s cousin and former House Speaker <a href="https://www.rappler.com/people/p84424693-ferdinand-martin-gomez-romualdez/">Martin Romualdez</a> – and Chinese metal traders supplying materials for carmakers. Marcventures operates a nickel mine in Surigao del Sur covering 4,799 hectares.</p>
<p>“There will be failure of governance where powerful politicians are behind [these] mining [corporations],” Garganera said, adding that they have been recommending the passage of such a law as a response to the “call of](https://files.mastodon.social/cache/media_attachments/files/115/699/625/242/672/059/small/a9710684d332228e.jpg)





