The African Development Bank (AfDB) and OpenOil, a Berlin-based financial analysis firm, have jointly produced a report on how African governments use financial models to manage oil & gas and mining projects. Mining companies and miners’ associations such as Newmont Mining Corporation, AngloGold Ashanti, Anglo American and International Council on Mining and Metals (ICMM) also attended. “Financial models are essential throughout the life-cycle of extractive projects,” said Johnny West, Director of OpenOil. “This study forms a crucial part of the Center’s support to African countries in realising the full potential of their natural resources”, Traore said. Partners doing so already were encouraged to not just supply financial models as part of isolated technical assistance, but to also invest in equipping government officials with skills to create and use models.

Source: News Business Ethiopia October 20, 2017 06:00 UTC