Adopt more sustainable mining practices to promote sustainable economic growth – Prez
President Nana Addo Dankwa Akufo-Addo has emphasized the need for more sustainable mining practices that promote sustainable economic development within communities where extractive industries are located.
“As a government, we expect industry to also continue to be a reliable partner for the sustainable development of the economy and the population… We are also aware that all private actors in the industry also seek stability, security and certainty in the economy, adding that unlocking the potential of mining for development in Ghana also meant building a sector that thrived on transparency and community development.
“That’s why I think the establishment of the Ghana Gold Expo Mining Week initiative is a necessity to create synergies that contribute to a stronger economy, based on long-term sustainable growth.”
The President, whose speech was read on his behalf by Dr Kwaku Afriyie, Minister of Environment during the third Ghana Mining Week in Takoradi, added that the synergies of the event should lead to opportunities for people to get a good education and jobs; improve infrastructure so that citizens have equal access to benefits from mining revenues.
He said the potential of mining for sustainable development was an important topic for every citizen, as it had a direct relationship with the country’s foreign direct investment (FDI).
“As we all know, the Western Region and Ghana are endowed with immense economic mineral resources and Ghana being one of the major gold producers in Africa, such an initiative is needed to promote our mineral resources in the world”.
According to him, currently, geological maps and reports showed that Ghana had gold, diamond, manganese, bauxite, clay, kaolin, mica, columbite-tantalite, feldspar, chromium, silica sand, quartz, salt, iron ore, copper and newly discovered lithium.
“Meanwhile, the cooperation and integration of technical and economic activities in the mining sector under the aegis of the Ministry of Lands and Natural Resources, the Ministry of Finance and other key stakeholders have ensured economic growth, ecological protection of natural resources and the environment; and social development, including workplace safety and community development.
He said the government had repositioned the industry and created a sustainable environment that ensured the growth of existing businesses and new entrants.
“We have promoted an effective partnership between the Minerals Revenue Investment Fund (MIIF) and the Central Bank of Ghana (BoG), in particular, as the Bank launched its domestic gold buying program in the as part of efforts to build gold reserves… My government is committed to ensuring the transparent use of mining royalties.”
On illegal mining, the President noted interventions such as the expansion of the Community Mining Scheme under the Minerals Commission and exclusively for Ghanaians with 5,000 direct and indirect jobs through the initiative.
Drawing attention to other mineral deposits, he said Ghana had become West Africa’s top lithium-producing country, following a binding conditional agreement Iron Ridge Resources reached with Piedmont Lithium to fully finance and accelerate production of the Ewoyaa Lithium project.
He said lithium and its compounds also have several industrial applications, including heat-resistant glass and ceramics, lithium grease lubricants, flux additives for the production of iron, steel and ceramics. ‘aluminum. “It’s a big win for our economy and our efforts to create a sustainable economy.”
He commended some key mining companies for helping to develop and bring infrastructure to various communities.
Mr. Kwabena Okyere Darko-Mensah, Western Regional Minister, was grateful to the government for congratulating him for launching such a commendable initiative that was gradually transforming the minerals sector and giving hope to the African mining industry .
He said the feedback revealed that the experiential value gained through Ghana Mining Week served his purpose and had a positive impact on corporate and personal goals.
The regional minister said the concept of Ghana Mining Week recognizes the interaction between mining and other sectors of the national economy.
Ghana Mining Week 2022 under the theme “The Potential of Mining for Sustainable Development”, is a call to investors in exploration, mining, processing, refinery, jewelry, mining tourism, financing, infrastructure development, environmental management, among others.
Ghana Mining Week ensured a safer mining environment through responsible mining.
The regional minister said the mining week project is advancing discussions with the University of Mines and Technology (UMaT) for the two entities to train community mining enterprises in the West region.
He said the government through the Ministry of Lands and Natural Resources has formalized the small-scale mining sector, six of the twelve district mining committees – Tarkwa-Nsuaem, Prestea-Huni Valley, Wassa East, Wassa Amenfi East, West and Central have been reactivated.
Mr. George Mireku Duker, the Deputy Minister of Lands and Natural Resources said the mining industry was positioned for long-term growth, consolidation and reform with tougher regulation.
“One of the main policies of the government to achieve its goal for the mining industry is the diversification of our mineral resources, our country is blessed,” he noted.
Ghana Gold Expo provides the platform to discuss and highlight Ghana’s mining sector, particularly the key trends, drivers, opportunities, challenges and strategies needed to develop the sector and drive economic development and growth.