The mining industry have been urged to adapt and adopt modern technology and innovations to achieve long term growth for the benefit of all stakeholders.
Ghana’s minister for Lands and Natural Resources, Kwaku Asomah-Cheremeh said here in Accra, the capital on Wednesday during the opening of the 10th West and Central Africa (WaCA) mining summit & Expo under the theme: “Energising for Growth & Profitability.”
The West and Central Africa regions, the minister emphasized is endowed with abundant mineral resources and that presents an opportunity for industry players on the African continent to optimize efficiency and profitability of exploration and production activities.
He said, “From the outset of exploration through the development to the mining phase, both government and investors need to adopt strategies that seek to minimize cost and environmental impacts while optimizing sustainability in the context of the rapid evolution of technology around us.
The mining industry must position itself to adapt and adopt the latest technology and innovations to enhance the outcomes of investment into the sector to achieve long term growth, profitability and sustainability for all stakeholders, investors, government and all others.”
Asomah-Cheremeh urged participants for the summit to discuss measures to revitalize growth and profitability.
“I will urge you all to be mindful of issues of sustainability of the sector. Sustainability goes beyond just responsible environmental and safety practices and cost cutting strategies. It might be said that the true test of sustainability is whether today’s people, as well as generations yet unborn will reap benefits in a balanced way from the mining practices in place today.
Ghana is endowed with substantial mineral resources, the major ones being gold, diamond, manganese and bauxite.
Besides these major minerals, the country also has potential for iron ore and base metals including copper, zinc, nickel, chrome and lead, while holding large deposits vast deposits of industrial or development minerals such as sand, gravel, granites and salt among others.
Currently, a number of countries in the West and Central Africa are major gold producers globally with Ghana being the largest producer in Africa having produced 4.9 million ounces in 2018.
The Ghanaian Lands Minister further urged governments in the respective countries worked towards ensuring that the people’s interest and that of the environment were not exchanged with money.
“As laudable as this feat may be, the priority of governments should be to translate these volumes of mineral production into wealth to benefit the larger populace as optimally as possible. However, governments should be mindful to continue to implement mining-friendly policies to sustain this achievement while ensuring the interest of citizens and environmental responsibility are not just traded off with monetary considerations,” he stated.
The 10th West & Central Africa (WaCA) Mining Summit & Expo 2019 which opened here on Wednesday will end on Thursday October 3.
The event has brought together extractive sector officials, producers and operators, investors and service and technology providers from the West and Central African mineral-rich region to engage and discuss the latest mining opportunities, projects and challenges.
Recent mining reforms and improvements in fiscal and regulatory frameworks have attracted new investments into the region and the Summit is among others expected to provide participants with first-hand insights into the latest mining updates on Ghana, Burkina Faso, Cote d’ Ivoire, Senegal, Nigeria, etc.
The 10th WaCA Mining Summit is organized by Magenta Global Singapore with support from key industry stakeholders including the Ministry of Lands and Natural Resources Ghana and the Minerals Commission of Ghana. Enditem