The ECOWAS Ministers incharge of Minerals Development have adopted the Draft Regional Mining Act at a just ended meeting in Accra. Ghana’s Minister for Lands and Natural Resources Kwaku Asomah-Cheremeh who chaired the day’s meeting said the document may be used to among other things cover Member States to enable foreign investors know that the region is guided by a common Mineral Resources rules and regulations.
He said “It will also help increase our revenue, open up youth employment and help develop our independent countries’’. Citing South Africa on the Continent as the only infrastructural developed nation, the minister stressed that’’ This Capital flight must stop’’ and requested member States to help themselves and future generations.
The adopted document is expected to be presented to the ECOWAS parliament soon and for onward presentation to the council of Ministers including the Ministers of Finance and foreign affairs.
The Act is centered on: Institutional Structures, Mining rights and Permits, licenses Tax regime, Governance of the sector, local content, Environmental protection, gender issues among others.
Note: Group photograph of mining Ministers of ECOWAS and Technical participants.