World Bank To Setup $1 Billion Fund To Map Africa’s Mineral Resources

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World Bank Washington DC photo

The World Bank’s Washington DC headquarters

AFRICANGLOBE – The World Bank wants to launch a $1 billion fund in July to map the mineral resources of Africa, using satellites and airborne surveys to fill geological gaps across the continent where a lack of adequate data hampers mining investments.

The World Bank has committed $200 million to the five-year fund, and was meeting with mining companies and governments from Africa who have expressed interest, a senior bank official told reporters on Wednesday.

“Times are tough, so the mining companies are counting their pennies, but there is a lot of interest because it is exactly when commodity prices are low and the companies are reducing their investment budgets that having the information to guide their priorities is valuable,” said Paulo de Sa, senior manager at the World Bank’s mining unit.

De Sa met with 10 mining companies on the sidelines of an African mining conference, including Rio Tinto and Ivanhoe Mines, who were interested in the fund. Initially targeting southern and eastern Africa, De Sa said the fund would aim to collate existing data onto a single, digital platform that would be accessible to the public.

Besides helping to guide exploration investment, African governments could benefit by being able to negotiate better deals when handing concessions to mining companies, he said.

“If they know what they have in their territory, they are in a better position to fine-tune and calibrate the fiscal regime and mining laws,” De Sa said. When Mozambique, for example, privatised its giant Moatize coal mine, it did not know the true potential of the coal basin until Brazilian miner Vale started exploration work.

De Sa said the bank, which has received expressions of interest from Malawi and Mozambique to assist with geological mapping, hoped to identify copper prospectivity in Zambia, Africa’s top producer of the metal.

“There is a lot more copper in Zambia than what is known, so we hope to identify the areas with more prospectivity and then the government will be able to attract more investment to areas because they know there will be a lot more certainty, a lot less risk,” he said. The data could also be used by governments when planning infrastructure development or water resource allocations. De Sa said the mapping fund hoped to unearth up to $1 trillion worth of new mineral resources on the continent.

 

The Scramble For Africa’s Oil Resources

 
 

 

 

 

 

 

 

 

 

"I'm just trying to make a way out of no way, for my people" -Modejeska Monteith Simpkins

 

AFRICAN AMERICA IS AT WAR

THERE IS A RACE WAR ON AFRICAN AMERICA

THERE IS A RACE WAR ON AFRICAN AMERICANS

THERE IS A RACE WAR ON BLACK PEOPLE IN AMERICA

AMERICA'S RACISTS HAVE INFILTRATED AMERICAN POLICE FORCES TO WAGE A RACE WAR AGAINST BLACK PEOPLE IN AMERICA

THE BLACK RACE IS AT WAR

FIRST WORLD WAR:  THE APPROXIMATELY 6,000 YEAR WORLD WAR ON AFRICA AND THE BLACK RACE

Original Post

Maybe we should re-name ourselves Africa's Human MINERALS and get some attention and some dough from the World Bank.  I'd be a MINERAL over a damn MINORITY any day of the week, especially over the mention of 1 billion dollars and before July!!!!!

 

Mineral Norland  (Yep!!)

J. Paul Getty said, The meek shall inherit the earth but not its mineral rights
 He also said that the Golden Rule means that those who have the gold rule.

Here they have $1B to draw a detailed anatomical map of Africa. After that, send in the butchers and surgeons to cut it up and share the spoils with local top dogs and foreign dog investors.It's just business.

 

You’d think that hypothetically sharing profits in common (communism or socialism) with the .0001% was an unspeakable horror.  The reality is that greedy bastards control the cash under all political systems. Fox News has convinced the average redneck that relative equal sharing of wealth is Anti-American. Worker’s unions are considered criminal. Goodness = greed, the worship of green Capital-ism.   The way socialism is talked about you’d think that it was worse than free  labor chattel slavery!! Africa is in the way of the world. Dogs from Europe, N. America and now Asia are pouncing to make deals with the usual corrupt regimes. 

What kills me is how Africa/Africans just sit back and allow sh!t like this to occur, how Africans just bend over and take all day long from Europeans/the West, how they just let non-Africans, non-Black Race people just keep coming back to f~~k Africa and Africans, over and over and over again.  

Originally Posted by sunnubian:

What kills me is how Africa/Africans just sit back and allow sh!t like this to occur, how Africans just bend over and take all day long from Europeans/the West, how they just let non-Africans, non-Black Race people just keep coming back to f~~k Africa and Africans, over and over and over again.  

 

Yes. I just don't get it. Why do they allow foreigners to take their resources (wealth), giving nothing in return, and run roughshod over them? Wait. I know the answer. THEY REFUSE TO UNITE. As long as they remain disunited, they will continue to be exploited. 

Originally Posted by EarthAndSky:
Originally Posted by sunnubian:

What kills me is how Africa/Africans just sit back and allow sh!t like this to occur, how Africans just bend over and take all day long from Europeans/the West, how they just let non-Africans, non-Black Race people just keep coming back to f~~k Africa and Africans, over and over and over again.  

 

Yes. I just don't get it. Why do they allow foreigners to take their resources (wealth), giving nothing in return, and run roughshod over them? Wait. I know the answer. THEY REFUSE TO UNITE. As long as they remain disunited, they will continue to be exploited. 

 

Unity alone doesn't eliminate the complexity of development, governance and service to the people.  They (like many of us in the US) have not directly confronted the logic of their own decision making.  So from the perspective of the well intentioned and sincere, these decisions "make sense" in the long run given their method of reasoning.  

 

History is filled with these stories on and OFF the Continent.   

Originally Posted by Muhammad Cipher:

 

Unity alone doesn't eliminate the complexity of development, governance and service to the people.  They (like many of us in the US) have not directly confronted the logic of their own decision making.  So from the perspective of the well intentioned and sincere, these decisions "make sense" in the long run given their method of reasoning.  

 

History is filled with these stories on and OFF the Continent.   

 

I believe it has much to do with fear. They have seen too many of their legitimate leaders (e.g. Patrice Lumumba), who attempted to act in the best interest of their people or Africa, end up dead. Now, they also fear drones, foreign military invasions, bombs, and Draconian sanctions if they even think of acting in their own best interest, not in the best interest of greedy western powers.

 

This is where unity is critical. If the people of the Democratic Republic of Congo decided to do it alone and kick all the greedy devils out of their country and affairs, they would be squashed like a bug. However, if every country in Africa united and kicked the devils out, it would be a completely different story. Why? The greedy devils are not going to nuke the entire continent because it wouldn't be in their best interest. Sanctioning every country in Africa wouldn't work either. Why? Because all of those African countries would have complete control over their wealth/resources. They could simply do business with each other. The sanctions would be ineffective, a joke. In a short time (about 20-40 years), Africa would be the wealthiest and most powerful continent on this planet. The tables would be turned.

 

If only they could unite...

If it is just a matter of surveying with satellites and airplanes how much can be done.

 

Nothing can be dons about satellites.  In fact if the people sending up the satellites do not tell us what they do there is no way to know.  How much do African countries control, regulate and enforce what is done in the airspace.  How do you tell what instruments are onboard an airplane?

 

How many Black geologists are there?

 

Xum

Originally Posted by sunnubian:

What kills me is how Africa/Africans just sit back and allow sh!t like this to occur, how Africans just bend over and take all day long from Europeans/the West, how they just let non-Africans, non-Black Race people just keep coming back to f~~k Africa and Africans, over and over and over again.  

uh.. guns..  bombs..  technologies that could bomb them back to the stoneage..   thats why.   Its about military power.  Every country on earth has to negotiate it's existence with a western power.. and thats just the way it is..  and it doesn't matter how much chest thumping you do.. or how much bravado you have.. or how unified you are.. you will fall in line or be isolated/destroyed.   It always trips me out to here folk criticizing black folks for kneeling before the same power that the critics themselves are also kneeling before. 

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