Ghana premier, foremost mining investment destination …Lands Minister declares

 Ghana’s burgeoning and stable democracy, ever-improving busi­ness environment makes Ghana the mineral investment destina­tion.

Furthermore, the dramatic shift in policy from mineral discovery to value addition as well as the fledging green min­eral market are elements which makes the country the ultimate and consummate destination for investors, Lands Minister, Samuel A. Jinapor has said.

According to him, the gov­ernment had managed the po­sition of Ghana as the perfect place for investment through initiatives which aimed at “unleashing prosperity for our people, in an environment that is equitable to all stakeholders, particularly investors.”

Addressing participants at the country spotlight session, of the Prospectors and Developers Association of Canada (PDAC) Convention on Tuesday, the minister explained that govern­ment had set out to diversify the mineral resources by ensur­ing the responsible and sustain­able hitherto untapped mineral resources such as lithium.

He made the assertion that government viewed the green mineral as the cornerstone for Ghana’s metal industry and thus pursuing collaborations with the private sector to ensure its effective harnessing.

“Particularly, the government of Ghana had identified the de­velopment of green minerals as a strategic metal development. The government is, therefore, seeking strategic partnerships with the private sector for the exploitation of these miner­als. Last year, Ghana’s cabinet approved a policy for the ex­ploitation and management of these minerals, which include investment incentives and the assurance of optimal return on investment.”

“Based on this policy, we have granted a mining lease to Atlantic Lithium, a company listed on the Australian and London Stock Exchanges, to commence construction, subject to parliamentary ratifica­tion, for the mining of lithium, after the company successfully completed exploratory works and feasibility studies. Available data shows large deposits of lithium from the northern part of the country to the south, and investors are welcome to partner with the government for the exploitation of these minerals.”

Touching on theme ‘Lever­aging a Century of Mining to Enhance Value Addition for the Development of Ghana,’ Mr Jinapor noted that Ghana was already on the path to be­come the mining hub in Africa through the establishment of refineries that would add value to the raw minerals.

“The second pillar is benefici­ation and value addition to min­erals produced in our country, to ensure a mutually beneficial situation for both the govern­ment and investors. Again, the government of Ghana had been working to create the op­erating vehicles to partner with the private sector to promote value addition.

We have, therefore, estab­lished the Ghana Integrated Aluminium Development Corporation (GIADEC), and the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), both state agen­cies, to work with the private sector to promote and devel­op integrated aluminium and iron and steel industries in the country.”

Touching on what he terms to be the final pillar of Gha­na’s tripartite mining policy, he stated that the government continued to engage mining companies in the country to employ more and competent Ghanaian hands so as to ensure employment while protecting the interest of the mining com­panies.

“The final pillar is local content and local participation, to ensure that Ghanaians, who are by law the owners of our mineral resources, benefit from the mining industry. But we do this in a manner that is not detrimental to the interest of investors; for we recognise that investors are our natural part­ners working towards the same goal; that is, the exploitation of the mineral resources for our collective benefit.

In acknowledgement of the critical importance of human resource capacity, the govern­ment of Ghana has built cred­ible training institutions which have produced the manpower for the sector in Ghana, with major spillover to virtually all mining economies, globally,” he said

At a panel discussion aimed at showcasing Ghana’s positive investment climate, some nota­ble mining investors praised the country’s rule of law, stable de­mocracy, right regulatory regime and cordial relationships among stakeholders based on mutual respect and the expectation of equitable distribution of bene­fits obtained as positive factors attracting their investment into the country.

 BY TIMES REPORTER