GIISDEC to ascertain actual value of Ghana’s mineral deposits
The Ghana Integrated Iron and Steel Development Corporation (GIISDEC), has indicated that it will begin a fact finding mission to determine the actual value of Ghana’s mineral deposits.
The move, which is said to begin this year is expected to help the corporation develop an investor memorandum which will support its quest to attract foreign direct investments into the sector.
Faruk Aliu Mahama, Board Chairman of the Corporation, disclosed this and added that it is about time Ghanaians get to know the true value of mineral deposits across the country.
“We have 6.4 million metric tonnes of deposited minerals in this country, we started our last mission in Akpafu which is a virgin area, it is a very rich area too. Yendi which is the biggest area has 1.7 million metric tonnes of deposited minerals as well.
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“We are only looking at getting an investor, this morning I was talking to a Russian ambassador and the Saudi’s, and they are ready to come in for us to look at how we can package and get this started”, he said.
He added that the corporation will be working together with the Ministry of Lands and Natural Resources to get adequate results given the President’s eagerness to know the out come of the findings.
“All in all the President is very very eager to know the result and we will also deliver, together with the minister we should be able to achieve something great”, he added.
Faruk also hinted that the forecast for this year will not only be for revenue generation but also conducting the fact finding mission to know the estimation of the country’s mineral resources.
“We are going to do what we call fact finding to look at actual concession values we have, based on that, we will use it, that’s the mineral resource estimation. If you don’t know your country’s mineral resources estimation, whatever you’re doing, you are going to do it out of no data”, he added.
