African Leaders Put Rich Nations On Notice That Days Of Cheap Resources Are Ending – by Lisa Vives ( – February 12, 2019)

Global Information Network – NEW YORK | CAPE TOWN (IDN) – African leaders had a new message for foreign companies seeking the diamonds, gold, rubies and emeralds so plentiful in desperate dirt-poor countries and so pricey when polished and sold in New York, Paris and Switzerland.

We’re no longer a cheap date. That message – in so many words – was heard again and again at this year’s posh African Mining Indaba (February 3-6) – a glittering conference in Cape Town, South Africa, that unites investors, mining companies, governments and stakeholders from around the world with the single goal of advancing mining on the African continent.

Not every African leader was threatening to pull “unusual tax incentives” from contracts with western companies. But at least one president drew a line in the sand, declaring it was simply unjust that Africa, rich in minerals sought after by the world, should remain inhabited by the poorest people in the world.

Mining deals must be more beneficial for Africa, declared Ghana’s President Nana Akufo-Addo, as he pressed governments to end fiscal incentives traditionally used to attract investments in countries rich in resources but considered high risk.

“We want you here for the long-term,” he continued, addressing the mining executives from wealthy countries. “Respect the land that provides the riches and be part of the transformation. It’s time to make Africa prosperous and allow her people to attain a dignified standard of living.”

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