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

 
/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

Month End Madness Sale!

Save up to 60% on across a wide range of goods from books to electronics, DVDs and many more. Sale end 31 January 2015. Shop now!

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

OLX Free Classifieds [change area]

Horoscopes
Aquarius
Aquarius

Something is blocking the flow of things today and it is easy to become frustrated and pessimistic. The problem is that your mind...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.