The Ghana Chamber of Mines has bemoaned the worsening security situation around some mining installations in the country, noting that disruptions could affect the industry’s contribution to economic growth.
In 2022, gold output reached 3.7 million ounces – enabling the country to replace South Africa as number-one producer of the precious yellow metal in Africa. Last year’s production was 32 percent more than the previous year.
Production from the Chamber’s producing members is projected to reach 3.2 million ounces at the end of 2023, driven by a broad-based increase in output. Consequently, the country’s overall output is expected to range between 3.3 to 3.5 million ounces in 2023.
However, it is feared that incessant disruptions such as encroachment on mining concessions by illegal miners and protests in certain mining communities could derail the country’s capacity to reach these production goals.
Chief Executive-Chamber of Mines, Dr. Sulemanu Koney, commenting on the matter said security stands as a critical pillar in the success of any mining operation, and that rising threats to mining installations could erode gains made in making this country the preferred destination for mining investments on the continent.
To this end, he said, the safety and well-being of mining companies’ workforces and host communities, the protection of assets and investment, as well as preservation of the environment are paramount.
He asserted that effective security measures play a role in fostering a conducive environment for broad-based socio-economic development and investment through responsible mining investment.
Dr. Koney was speaking at the opening session of the ‘5th Ghana Mining and Energy Summit and Exhibition 2023’ in Accra – and noted that through collaborative efforts, deployment of appropriate technology and adopting a holistic and integrated approach to development, a secure and stable environment can be created.
He suggested that this will allow industries in various sectors to co-exist and leverage the presence of each other to create synergies which undoubtedly create value for the country.
The 5th Ghana Mining and Energy Summit and Exhibition was held under the theme ‘Harnessing mining and energy potential for sustainable national development’.
The Chamber of Mines boss said the summit is a reflection of commitment to advancement for the mining and energy sectors, and provides a platform for stakeholders to engage, collaborate and chart a course toward a future of prosperity and sustainable development.
Among others, he mentioned that: “The quest for socio-economic development of host communities is a goal we strive to achieve through the responsible operations agenda. With the right attitude and deliberateness, the partnership between the mining and energy sectors can and should engender economic growth, create employment opportunities, support skills transfer and uplift communities.
“Through responsible and sustainable practices, we endeavour to strike a balance between harnessing these resources for our current benefit and preserving the environment for future generations,” he added.
Also, the Minister of Lands and Natural Resources, Samuel Abu Jinapor, speaking at the ceremony said: “Some of our policies and contracts have, unfortunately, resulted in extraordinary profits to mining companies at the expense of the country. And we have, until recently, failed to put in place a proper framework that ensures we benefit optimally from these resources”.
Furthermore, he said, the overdependence on exports of raw minerals has denied the country benefits which accrue from these minerals across the value chain.
“But other actors in the extractive industry, particularly extractive companies, cannot escape blame. Is it not alarming that the extractive sector continues to be the major contributor to illicit financial flows from the continent, as the data show?”
Mr. Jinapor noted that illegal exploitation, tax evasion, trade mis-invoicing, transfer pricing, and under-declaration are some of the practices contributing to this illicit menace.
“As we embark on this journey to harness our mining and energy potentials for sustainable development, we must prioritise sustainable practices and adopt an approach that balances economic growth, social equity and environmental stewardship,” he added.
Speaking in an interview on the event’s side-lines, the Director-Communications and External Relations at Newmont Ghana-Ahafo North, David Ebo Johnson, said that given the conversation about energy transition and green technology, the event provides a platform for mining companies to demonstrate the steps they are taking toward the global energy ambition.
Source: thebftonline.com