ECOMOF is an initiative of the ECOWAS Commission who, on 8th October 2010 at the meeting of ECOWAS Ministers responsible for Mineral Resources Development, in Monrovia, Liberia recommended that a regional mining and petroleum forum was required as part of the activities to promote and develop the mining and oil potentials of Member States.
Coupled with West Africa’s geological potential, the mining sector is still not saturated. The region is clearly establishing itself as an international gold belt with a strong pipeline of major mining projects taking place. Between 2006 and 2017 several new mines have been commissioned in countries like Côte d’Ivoire, Mali, Burkina Faso, Ghana, Guinea, etc. this has made West Africa overtake South Africa as the new gold mining hub. Apart from gold, West Africa also has significant volumes of mineral resources supplying 10% of the global manganese ore, 8% of Bauxite and 7% of Uranium.
The ECOWAS region contributes to 40% of Sub-Saharan Africa Oil Production. Nigeria remains one of the largest players in the region, and is currently the biggest oil and gas producer in Africa. Recent Oil discoveries on the West Africa Transformation Margin have incentivized major E&P companies to further invest in the region. On the Natural Gas front, the discoveries made on the Mauritania/Senegal basin have also garnered tremendous international attention, significantly impacting the levels of production in the region.
The main outcomes that are expected from this event are to:
This is a great addition to the 2nd edition of ECOMOF. It gives miners, petroleum experts, investors and government officials and all stakeholders of the mining industry to learn and discuss investment opportunities, upcoming and development of projects, intricacies if the new mining code and long-term sustainability plans in an informal environment.
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