03.Jul.2019 15:49
Economy

Georgia Joins IGF as 73rd Member, Reforms Mining Sector for Sustainable Development

Georgia Joins IGF as 73rd Member, Reforms Mining Sector for Sustainable Development

The Government of Georgia, through its National Agency of Mines, expressed its commitment to good governance of the mining sector by joining the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF).

“We are pleased to welcome Georgia as the IGF’s 73rd member,” said Greg Radford, Director, IGF. “Every nation that joins the forum brings a unique perspective and adds depth to the dialogue. We look forward to Georgia’s participation and welcome their efforts to leverage mining for sustainable development.”

Mining contributes significantly to Georgia’s economy, contributing 1.1 per cent towards the country’s gross domestic product (GDP) and about 27 per cent of the exports from the region. Mining also employs approximately 30,000 people in Georgia.

“The IGF is an excellent platform to share experiences with other governments and to learn about the latest developments and international best practices,” said Natia Turnava, Minister of Economy and Sustainable Development of Georgia. “We anticipate the sector will grow significantly in the coming years. Our goal is to attract the right kind of investment from socially responsible companies that maintain high environmental standards. The IGF will help us to manage the sector responsibly.”

The Government of Georgia is pleased with the reform of its mining sector, conducted with support from the European Bank for Reconstruction and Development. This reform will bring fundamental improvements to the sector, enhancing the region’s contribution to sustainable development.

There are three phases to Georgia’s mining sector reform: strategic planning, legislation and capacity building.

  • Phase one: Create policy and strategy documents in accordance with international standards, including a Mining Sector Policy.
  • Phase two: Create legal framework within 2019 to inform the new mining legislation.
  • Phase three: Strengthen human resources and provide capacity-building opportunities in the sector in 2020 and beyond.

To ensure the success of Georgia’s mining sector reform, experts are currently collaborating with administrative bodies, industry representatives and non-governmental organizations. The government is also upgrading its mineral exploration model, fostering free access to geological information, improving systems for reporting mineral resources and ore reserves, and creating transparent and flexible licensing systems.

As a result of the reform, Georgia will create a transparent, commercially attractive and economically valuable mining sector, fostering environmental sustainability and socioeconomic beneficiation.

More information is available on the Ministry of Economy and Sustainable Development’s website (in Georgian).

The IGF supports more than 70 nations committed to leveraging mining for sustainable development to ensure that negative impacts are limited and financial benefits are shared. It is devoted to optimizing the benefits of mining to achieve poverty reduction, inclusive growth, social development and environmental stewardship. The International Institute for Sustainable Development has served as Secretariat for the IGF since October 2015. Core funding is provided by the Government of Canada.




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