Mining: Lands Minister urges stakeholders to explore new investment opportunities in the sector
The Minister for Lands and Natural Resources, Mr Samuel Abu Jinapor, has urged stakeholders in the mining and power industries to explore sustainable investment opportunities that benefit industry and host communities.
Speaking at the 2024 West African Mining and Power Conference and Exhibition (WAMPOC/WAMPEX) on Wednesday in Accra, he announced a new era of sustainable mining and power investment in Ghana.
Mr Jinapor highlighted Ghana’s status as Africa’s leading gold producer and a central hub for mining services in West Africa.
Emphasizing the theme, “The Mining and Power Hub: Driving Sustainable Investment Opportunities in West Africa,” he underscored the government’s efforts to balance resource extraction with environmental protection and community development.
He said the government had constructed new offices for the Minerals Commission across Ghana, to decentralise its operations and improve regulatory efficiency.
The Minister highlighted incentives for exploration activities and measures to enhance local participation to ensure the long-term viability of the mining industry.
“We are promoting investment in exploration to uncover new mineral reserves. For example, we are working with the Ghana Revenue Authority and the Ghana Chamber of Mines to explore the best framework for treating critical imposts such as VAT on exploration,” he said.
He noted the listing of Atlantic Lithium Limited on the Ghana Stock Exchange, giving Ghanaians the opportunity to own part of the company and its operations.
The Minister stated the construction of a gold refinery and disclosed plans to restrict raw bauxite exports.
“We have constructed a four hundred kilogramme capacity gold refinery to refine the gold we produce and work on a $450 million manganese refinery will soon commence. Furthermore, a new Legislative Instrument will be enacted to restrict the export of raw bauxite, fostering an integrated aluminium industry within the country,” he said.
The Minister called for continued collaboration between the government, industry players and local communities to ensure sustainable development.
“We must continue to work together to overcome the challenges that confront the industry, including the issue of illicit financial flows. As we work to drive sustainable investment opportunities, we must ensure that these investments benefit host communities who bear the immediate consequences of our work,” he stated.
WAMPOC/WAMPEX24 is an international networking conference and exhibition for the Mining and power industry in West Africa that pools together captains of the mining and power companies, West Africa Ministers for mining and power, international and local investors, NGOs, researchers and traditional leaders.
