Mining Companies Urged to Improve Local Content, as WAMPOC 2012 launched


Prosper Agbenyega

A premium platform for Mining and Power exhibition that will bring together stakeholders in the Ghanaian mining and power industries close to sub-regional and African market players (WAMPOC) has been launched in Accra.

The Exhibition and conference will also give opportunities to leading experts to present papers on opportunities, challenges and future prospects of Africa’s mining and power sectors with specific focus on sustainability of the industries.

Speaking at the Media Launch of the 10th West Africa Mining and Power Conference and Exhibition (WAMPEX) and the 9th West African Mining and Power Conference (WAMPOC), scheduled to be held at the International Conference Centre from 6th to 8th June 2012 under the theme, “Deepening partnerships for the sustainable development of Africa’s mineral and energy resources,” the Chief Executive Officer (CEO) of the Ghana Chamber of Mines, Dr. Toni Aubynn, has called on mining companies operating in the country to improve their local procurement systems.

According to him, about 70% of mining expenditure goes into the supply chain area, therefore the need to support the growth of local businesses to provide the basic materials to mining companies.

He averred that there was the need to develop a national vision on local content in the mining industry, saying, “We need to develop a local content vision in the industry if we want to develop the full benefits from mining.”

The Chamber of Mines CEO further stated that there will be a Memorandum of Understanding (MOU) signed between International Finance Corporation (IFC), the Ghana Chamber of Mines, and the Minerals Commission to boost local content in the mining industry and will further support the growth of local businesses working in the mining industry.

On his part, CEO of Minerals Commission, Benjamin Aryee, indicated that in view of the attractive investment climate, along with the favorable precious metal prices on the international market, Ghana has made giant strides in attracting major players into the mining industry over the past decade. For him, this stride has led to the production of an unprecedented 3.3 million ounces of gold in 2010.

He pointed out that, the role of WAMPOC/WAMPEX in this success cannot be over emphasized, adding, “for investors who are interested in mining, the WAMPOC/WAMPEX 2012 forum provided a platform to access such opportunities and also get to meet representatives of government agencies responsible for managing mining in West Africa.”

It is indeed notable that West Africa is considered one of the world’s fastest growing regions in terms of gold production in the world. However, Ghana’s gold production output is expected to increase by 30% in the next four years.

Hence, the WAMPOC/WAMPEX will bring together captains of the energy and mining industries, international investors and corporate executives as well as Ministers of Mines & Energy in Africa, with about 56 local and foreign companies so far registered for participation.

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