Develop Ideas to Reshape Mining and Energy Sector- Ghana

BY YESMAN ANTOH-

Dr Mohammed Amin Adams, Deputy Minister of Energy
Photo Credit: Mynewsgh

NEW AFRICA BUSINESS NEWS, Accra, Ghana- THE PRESIDENT of the Ghana Chamber of Mines, Eric Asubonteng, has stated that despite the challenges the country had faced with the ban on illegal mining, Ghana, for the first time, became the leading producer of gold in Africa, overtaking South Africa in 2018.

“It is vital that we put in the appropriate win-win measures to be able to tap all the value within the sector in order for the State to fully benefit from the minerals,” Asubonteng said.

He said in spite of the performance of the country in gold production, most large-scale gold producers continued the necessary discipline of reorganizing and streamlining their business process.

“As a country, [we have to acknowledge that] the time has come to ask ourselves whether we are adequately taking advantage of Ghana’s mining opportunities to enhance the nation’s chances at improving livelihood and reducing poverty.”

Asubonteng made this statement in Accra on Wednesday, June 12, 2019, at the 2019 Ghana Mining and Energy Summit, which sets the agenda to foster growth and prosperity within the two sectors of the economy.

The event, which was organized by the Ghana Chamber of Mines was on the theme ‘Harnessing Mining and Energy to Accelerate National Development,’ brought together experts in the energy and the mining sectors to chart the way forward for the industry.

He said the Chamber would continue to work with stakeholders in the industry in advocating a realistic fiscal and regulatory regime based on fair participation by all players.

Speaking at the opening session, the Deputy Minister of Energy, Dr. Mohammed Amin Adam, who read a speech on behalf of the Minster of Energy, John Peter Amewu, said the conference was timely because the industry was going through the process to develop critical and generational ideas that would reshape Ghana’s mining and energy sector.

Dr. Adam said the conference was essential because it provided a platform for manufacturers across the world to discuss the chances available in the value chain of mining and energy industries.

“At this moment in our development history, it has become necessary for us to deepen the contribution of mining and energy towards the growth of our economy,” he said.

Dr. Adam said the aim of moving Ghana to the elevation of economic freedom had clearly shown that there should be more emphasis on reliable energy to propel industry and transform Ghana into a modern industrialized economy.

“This is why the government has worked tirelessly for the past two years to ensure that the availability of energy, be it power or fuel, is given the much-needed attention it deserves from a strategic planning point of view,” he said.

He said the energy sector was critical to a nation building, adding that “the key elements of adequate, reliable and cost-effective electricity supply to industry are not lost on us as a government. We are aware that to industrialize, we need to create enterprises which are not only competitive but also viable in the long-term.”

The Chief Executive of the Ghana Chamber of Mines, Suleiman Koney, said the summit gave opportunity to stakeholders to interrogate the issues affecting the growth and development of the two important sectors of the economy.

BY YESMAN ANTOH, NEW AFRICA BUSINESS NEWS, BUSINESS & POLITICS, GLOBAL CORRESPONDENT

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