Morocco Unveils Innovative OTC Mining Framework at Global Summit

Wednesday 15 January 2025 - 08:50

By: Dakir Madiha

Morocco Unveils Innovative OTC Mining Framework at Global Summit

Morocco's Minister of Energy Transition and Sustainable Development, Leila Benali, presented an ambitious new sustainable mining initiative at the 4th International Mining Ministers Meeting in Riyadh. The proposal, dubbed the "OTC Corridor" (Origin, Transit, and Certification), aims to revolutionize mineral resource management through a comprehensive three-pronged approach.

The framework emphasizes technological integration and environmental stewardship while streamlining trade processes. A key focus is implementing competitive production methods that minimize ecological impact, coupled with measures to reduce trade barriers and establish robust sustainability regulations.

Speaking to representatives from 85 countries, Benali highlighted Africa's strategic position in the global minerals market. The continent holds substantial reserves of critical minerals, including 55% of global cobalt, 47.65% of manganese, and 5.9% of copper. However, current revenue generation from these resources falls short, with the continent capturing only 40% of potential earnings due to challenges in value addition, governance, and infrastructure development.

The minister emphasized the importance of responsible mining practices, particularly regarding social rights and labor protections. Special attention was given to preventing child exploitation in mining operations, while also calling for increased investment in research and development. Key areas for advancement include recycling technologies, water resource management, and reducing the environmental footprint of mining operations.

The summit marked significant progress in regional development, noting the establishment of three Centers of Excellence across Africa, Western Asia, and Central Asia in 2024. Morocco's Mohammed VI Polytechnic University was recognized among these centers for its commitment to training the next generation of mining professionals in sustainable practices.

Benali concluded by extending an invitation for international collaboration, expressing Morocco's readiness to partner with global stakeholders in developing sustainable mineral value chains. This initiative represents a significant step toward modernizing Africa's mining sector while prioritizing environmental and social responsibility.