Minister for Lands and Natural Resources Mr. Samuel A. Jinapor has stated that Ghana’s vibrant democratic culture and strong political stability make her mining sector very attractive for investment.
He told foreign investors that Ghana’s government was keen to making the country the mining hub of Africa where all mining and mining-related activities from exploration to downstream production, and from research to innovation will be centred.
“We will share innovations through research and development, share policies and learn from each other to improve the sector and ensure the industry contributes meaningfully to sustainable development. We do all these in an atmosphere of transparency and in accord with the highest standards of integrity”, he added.
Mr. Jinapor stated these when he addressed the 20th Edition of the African Down Under Conference in Perth, Western Australia yesterday.
He assured the investor community of ease of access to geological information, good mining governance institutions and highly skilled personnel, which he said has contributed to Ghana becoming a leading mining enclave in Africa and urged investors to take advantage of these opportunities.
According to him, the government’s goals in the mining sector require continuous engagement with industry players and other resource-rich countries to build the right and strategic partners and make new discoveries.
Mr. Abu Jinapor disclosed that Ghana’s mining industry predates the arrival of the first Europeans in the 15th Century and stressed its contribution to the economy has been phenomenal with gold alone providing some 40% of export earnings and accounting for more than 90% of gross mineral revenues.
“In addition to gold, we mine bauxite, manganese and diamond. There are, also, deposits of other green minerals like lithium and iron ore; base metals, such as copper, zinc, nickel, chrome and lead, as well as vast deposits of industrial or development minerals, including sand, gravel, granite and salt.
“Our national Constitution, which forms the basis of our legal and regulatory regime, vests all minerals in their natural state in the President of Ghana, on behalf of, and in trust for the people of Ghana. No individual, thus, owns any mineral in its natural state in the country, and no one can grant a concession for the exploitation of our mineral resource apart from the Government,” he added.
15 large-scale mining operations
Mr. Jinapor disclosed that Ghana currently has over 15 large-scale mining operations with 13 producing gold and two producing manganese and bauxite, which include Australian companies like Cardinal Namdini, Azumah Resources, Perseus Mining and Castle Minerals.
The priority of the Ghana government, he stressed, continues to be the translation of the huge volumes of mineral production into wealth to benefit all stakeholders equitably, including the larger populace as optimally as possible.
The Government, he added, is therefore, mindful of the need to implement mining-friendly policies to sustain these achievements while ensuring environmental sustainability, and protecting the interest of citizens and investors alike.
“Fortunately, the rule of law is the norm in Ghana and not the exception. It is the pivot around which our governance architecture revolves.
“With a stable democracy, spanning over 30 years, peaceful elections and successful change of government from one political party to another, investors are assured of the protection of their rights, regardless of the outcome of national elections. Our respect for the rule of law has earned us the enviable title of the beacon of democracy in Africa.
“Anchored on this business-friendly environment, the Government of Ghana continues to adopt policies to improve transparency in the industry, beneficiation and value addition, upstream and side-stream linkages, and to ensure a win-win situation for both investors and host country.”
Mr. Jinapor indicated that the strategic location of Ghana, allows investors to use Ghana as a base for their operations in the West African region and averred that Accra as the host of the new African Continental Free Trade Area (AfCFTA), will open the doors to investors to tap into the over 1.2 billion African markets.
