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Modes of Governance and Revenue Flows in African MiningIntroduction

Modes of Governance and Revenue Flows in African Mining: Introduction [Increased investment in the mining sector in Africa is often presented as a key strategy to leverage growth and development on the continent. The reforms introduced to this end in the 1980s and 1990s have indeed contributed significantly to an increase in investment. According to a United Nations Conference on Trade and Development (UNCTAD) study, by 2004 foreign direct investment (FDI) in mining in Africa had reached US$15 billion annually, representing 15 per cent of the global total, up from 5 per cent during the mid-1980s (UNCTAD, 2005, p. 39). These investments boosted the role of the mining sector in mineral-rich economies. As suggested by a World Bank study, gold mining contributed 2.9 per cent of Mali’s gross domestic product (GDP) in 1994, increasing to 12.7 per cent in 2002, and gold’s contribution to Mali’s total exports increased from 18 per cent in 1996 to 65.4 per cent in 2002 (World Bank, 2005, p. 24).] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Modes of Governance and Revenue Flows in African MiningIntroduction

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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2013
ISBN
978-1-349-46675-7
Pages
1 –15
DOI
10.1057/9781137332318_1
Publisher site
See Chapter on Publisher Site

Abstract

[Increased investment in the mining sector in Africa is often presented as a key strategy to leverage growth and development on the continent. The reforms introduced to this end in the 1980s and 1990s have indeed contributed significantly to an increase in investment. According to a United Nations Conference on Trade and Development (UNCTAD) study, by 2004 foreign direct investment (FDI) in mining in Africa had reached US$15 billion annually, representing 15 per cent of the global total, up from 5 per cent during the mid-1980s (UNCTAD, 2005, p. 39). These investments boosted the role of the mining sector in mineral-rich economies. As suggested by a World Bank study, gold mining contributed 2.9 per cent of Mali’s gross domestic product (GDP) in 1994, increasing to 12.7 per cent in 2002, and gold’s contribution to Mali’s total exports increased from 18 per cent in 1996 to 65.4 per cent in 2002 (World Bank, 2005, p. 24).]

Published: Nov 23, 2015

Keywords: Corporate Social Responsibility; Foreign Direct Investment; United Nations Development Program; Mining Sector; African Union

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