Mineral Resources
The East African Community land mass is blessed with a myriad of minerals and gemstones of varying values in international markets. Most of the EAC Partner States have many rare minerals.
The mining sector contributes about 2.3% of the GDP in the East African region and is one of the leading components in generating foreign exchange earnings within the non-traditional exports. Further, the secor has great potential for employment opportunities and spearheading both the forward and backward linkage of the regionβs economy.
The EAC Treaty, article 114 requires that for the purpose of co-operation in environment and natural resources management, the Partner States agree to take concerted measures to foster co-operation in the joint and efficient management and the sustainable utilization of natural resources within the Community for the mutual benefit of the Partner States. With regard to the management of the mineral resources sector, the Partner States agree, inter alia, to promote joint exploration, efficient exploitation and sustainable utilization of shared mineral resources.
A Baseline survey was conducted in the Partner States to gather baseline mineral information; country mineralization reports were prepared, and the capacity building on best practices on mineral sector regulations and value addition promotion strategies was conducted in June 2012.
The harmonization of the different Partner States policies is to be conducted as a follow up to these efforts.