‘Deliberate policies, investment in mining will raise mineral revenue’

The Chief Executive Officer of Minerals Commission, Martin Kwaku Ayisi, has stressed the need for deliberate policies and investment in the mining sector to ensure that Ghana, through mining raise the billions here for development.
He was speaking as a panelist on the topic: “Harnessing mineral resources responsibly for national development,” at a two-day strategic stakeholders dialogue organised by the Graphic Communications Group Ltd (GCGL), in collaboration with the Ministry of Lands and Natural Resources, in Accra.
The event, which was on the theme: “Harnessing our natural resources for our sustainable collective good”, provided a platform for participants to deliberate and share practical perspectives on the nation’s progress about harnessing its natural resources for the sustainable collective good of the citizenry.
“Let’s design strategies and policies that people will raise money here. We should develop our mining industries here,” he added.
Investment
Mr Ayisi explained that the more mining companies invested in their operations, the more inputs and services they would procure, and that would stimulate local participation and growth.
This, he said, will be especially immense as the merchandise exports were bigger than the taxes and royalties the companies paid to the state.
He added that it would ensure succeeding generations did not lose out when the resources eventually ran out because natural resources were finite assets.
“As we go about the exploration and exploitation of our natural resources, we should have at the back of our minds that revenue from it should be channelled into other ventures so that when the minerals run out we can fall on such investments,” Mr Ayisi added.
Chile example
Citing the Chile example, Mr Ayisi said the country, which is the top copper producer in the world with 28 per cent of global copper production, was investing in fisheries and agriculture, and putting away much funds in sovereign bonds and other productive assets to secure inter-generational value.
“We must do the same so that whatever we are getting from the exploitation of our minerals must be channelled into other productive sectors so that when the minerals are exhausted we can have something to fall on,” he said.
“Institutions sitting on pensions like SSNIT should also invest in the mining industry,” he indicated.
The Minerals Commission CEO added that mining reforms would further boost small-scale mining, adding that the reforms were anchored on integrity and transparency to ensure that industry players went about their businesses in confidence for enhanced productivity.
Value Addition
He also called on stakeholders in the natural resource sector to support the government’s agenda to add value to the country’s resources.
He underscored the fact that building strong infrastructure for value addition was crucial as it would ensure a paradigm shift in the exportation of gold and other green minerals in their raw form.
Mr Ayisi stressed that the discovery of Lithium, iron ore and other green minerals in commercial quantities in some parts of the country showed the promise of improving the fortunes of the country, with the right structures to be laid to promote value addition along the chain.