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BRICS' Approach to Resource Management

BRICS' Approach to Resource Management
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On July 15-17, BRICS members held a roundtable discussion about the ways in which the bloc members can cooperate to use their mineral resources sustainably. AfroVerdict host discusses the advantages of such collaboration for the African continent with participants from Nigeria and South Africa.
During a recent BRICS roundtable discussion, the head of Russia's Mineral Resources Agency suggested creating a "BRICS Geological Platform." This platform will be a "collective voice" for BRICS member states, according to Prof. Paul Omaji, President of The Consortium of Universities “Subsoil of Africa”, Rector of Admiralty University of Nigeria.
"If there are challenges for different countries to be able to optimize the value of that convention, you have a situation where collectively the countries that belong to a particular bloc will be able to harness their voices and ensure that they are able to get the benefits of sovereignty over their subsoil," he states.
Working on "securing the long-term future" is another driver of establishing the BRICS Geological Platform, according to Mr. Mosa Mabuza, CEO of the South African Council for Geoscience.
"I think in the main is our ability to safeguard or determine the possibilities of what the future looks like for BRICS member countries[...] There are very many areas of collaboration that we would be able to pull from one another to determine programs that we believe will augment and strengthen the BRICS as a multilateral unit," Mr. Mabuza explains.
Likewise, "developing mineral potential" of African countries as well as "legalizing the trade of these minerals globally" are two ways in which BRICS can assist African countries, as stated by Dr. Costantinos Berhetesfu, Ethiopian economist and former UN Senior Policy Advisor.

"Definitely, the BRICS countries have the resources to do this; they have the knowledge, the technological know-how, and also the willingness to do this," the expert believes.

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