The Ministry of Lands and Natural Resources has begun an engagement with the Ghana Chamber of Mines and some mining companies to locally process 30% percent of the gold mined in the country.
This is to tap into the synergies along the value chain of the mining industry to ensure that the State derives fair returns from the extractive sector.
The Minister of Lands and Natural Resources, Hon. Kwaku Asomah-Cheremeh, said it was the government’s policy to add value to the country’s minerals resources. He therefore called on the multinational mining firms to help achieve this objective.
He said this at 91st Annual General Meeting (AGM) of the Ghana Chamber of Mines held in Accra on 14th June, 2019.
According to the Minister, the Ministry can attest to periodic engagements with the Chamber to iron out thorny issues and also, address concerns that can derail investor confidence in the mining space.
The periodic meetings, he added, were admirable platforms where decisions taken were to be effectively implemented in order to maintain Ghana’s position as a leading force in the mining business environment
Touching on policies and strategies, Hon. Asomah-Cheremeh disclosed that government had instituted several policies and strategies to grow the mining sector, key among them include, enhancing good governance of the sector through transparent and effective utilization of the revenue and making a deliberate effort to integrate the extraction sector into the economy.
Part of the policies and strategies, he said, was to streamline the fiscal regime in order to make appropriate and mutually beneficial for both investors and the host country.
He, therefore, expressed the hope that the initiative would enhance Ghana’s reputation as a mining hub in the sub-region.
The President of the Ghana Chamber of Mines, Mr. Eric Asubonteng stated that the mining industry in the country has made some significant progress, key among them being the upstaging of South Africa as the largest producer of gold in Africa.
