World Bank to map Africa's natural resources

2014-02-06 07:40
(Shutterstock)

(Shutterstock) (Shutterstock)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Washington - The World Bank plans to launch in July a $1bn plan to map Africa's natural resources with the aim of delineating more clearly the continent's uncovered mineral wealth.

The project, dubbed the Billion Dollar Map, "will unlock the true worth of Africa's mineral endowment," Tom Butler, mining specialist at the Bank's private finance arm, the International Finance Corp., said Wednesday.

Speaking in Cape Town, South Africa, Butler said most of Africa's subsoil resources have not been surveyed.

Doing so, in a public way, would be useful to policy makers, investors and the public, helping to boost development, he said, according to prepared remarks.

"There is yet an enormous amount of wealth left to discover," he said.

"Coupled with in-country training and institutional support, and the work of exploration companies, this initiative will unlock the true worth of Africa's mineral endowment."

The World Bank , which calls accessible data on resources a "public good", said it has already invested over $200m in developing geological data for Africa over the past 10 years.

Currently, it is supporting a comprehensive airborne geological survey of the entire country of Malawi.


SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
8 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
/World

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Deal of the week!

Petrol generators from R1399, save up to R350. While stocks last. Shop now!

30% off Pampers!

Save 30% when you buy 3 or more selected pampers products. While stocks last. Shop now!

This week only - 30% off books!

Get 30% off when you buy 2 or more books. Many titles to choose from. While stocks last. Shop now!

New range of Samsung smartphones!

Samsung Galaxy A3, A5 and Alpha now available at kalahari.com. while stocks last. Shop now!

Buy 3 eBooks & only pay for 2!

The cheapest of the 3 titles will be free. Many more titles to choose from. While stocks last. Shop now!

Horoscopes
Aquarius
Aquarius

You tend to feel more comfortable on an intellectual level. The deep emotional under current today can make you feel a little...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.