7 Steps of the EI Value Chain, Explained

According to the World Bank, the EI value chain provides a framework for the governance of the EI sector. The value chain is meant as a tool to support countries’ efforts to translate mineral and hydrocarbon wealth into sustainable development.

In its 2015 guidance, AFROSAI-E (African Organization of Supreme Audit Institutions – English) expanded the World Bank’s original five step EI value chain to include the steps of establishing the legal framework and resource exploration, as shown in the figure below.

Figure: The 7 step EI Value Chain

Figure sources: Summarized from the World Bank, The Extractive Industries Sector: Essentials for Economists, Public Finance Professionals, and Policy Makers, and AFROSAI-E, Guideline: Audit Considerations for Extractive Industries.