Business Analyst - June 30

Thursday, June 30, 2022
Small-scale mining
sector growing
• As Lands Ministry presents
95 Mining Licenses to GNASSM
STORY: FREEMAN
KORYEKPOR AWLESU
tHE Ministry of Lands
and Natural Resources
has presented Ninety-
Five (95) signed licenses
to Members of
the Ghana National Association of
Small-Scale Miners (GNASSM).
Addressing journalists at a
brief ceremony held on tuesday,
June 28, 2022, to present the mining
licenses to Members of the Association,
the Minister for Lands
and Natural Resources, Mr. Samuel
Abu Jinapor explained that the issuance
of the licenses is an affirmation
of the government’s
commitment to the growth of the
Small-Scale mining sector.
the Minister relayed the vision
of the government which is
to create a complete value chain
that will result in value retention
in the mining sector.
He disclosed that government
is in the process of building a completely
new small-scale mining
sector typified by responsible mining,
employment, and improved
living conditions for miners and
mining communities.
He said the government’s plan
to achieve the above-stated objectives
has seen the adoption of two
approaches.
these approaches, he mentioned
as being reformation and
law enforcement exemplified by
the policies of reform at the Minerals
Commission and allied agencies
as well as effective
enforcement of anti-galamsey
laws.
He warned that government
will be ruthless in its fight against
illegal mining, adding that lawbreakers
will be dealt with in accordance
with the law.
"those who will not come
under the umbrella of the Responsible
Small-Scale Mining should
know that the Ministry will come
after them ruthlessly. All measures
will be thoroughly enforced with
no apologies," Abu Jinapor said.
According to the Minister, the
seizure and decommissioning of
“He disclosed that
government is in the
process of building a
completely new
small-scale mining
sector typified by
responsible mining,
employment, and
improved living
conditions for
miners and mining
communities.
mining equipment will continue
unabated as the government continues
to crack down on illegal
mining activities.
He revealed that the Vice President,
dr. Mahamudu Bawumia is
leading a drive to build a new gold
purchasing model, similar to that
of the Produce Buying Company
in the cocoa sector.
under this model, he said gold
purchasing will be done in a robust
regime led by the Bank of
Ghana and therefore appealed to
the members of the small-scale
mining association to support the
government to achieve the purpose
of the new drive.
George Mireku duker, the
deputy Minister in charge of
Mines, in a presentation outlined
the government’s support for the
small-scale mining sector including
the improved relations between
the Ministry and the
GNASSM.
He further disclosed that the
government through the Minerals
Commission has introduced a
mechanism that allows for easy
application and granting of mining
resources.
the General Secretary of the
GNASSM, Mr. Godwin Armah expressed
gratitude to the Sector
Minister for accommodating and
implementing some proposals
made by the group.
He said the Association will
continue to partner with the government
to ensure that the mining
sector is developed to its apex.
Ghana’s trade volume could multiply
tHE African development Bank has
stated that Ghana’s trade volume could
multiply if deeper integration with the
continent and the region is pursued.
Aware of this opportunity, AfdB, said
in a country brief, Ghana, home to the
secretariat of the African Continental
Free trade Area (AfCFtA), is promoting
spatial inclusion and more linkages with
Africa and the world.
From 2012–2021, Ghana’s trade flows
concentrated increasingly on non-
African countries.
In 2019, for example, Asia, Europe,
and America accounted for 87% of the
country’s trade in merchandise.
But intra-African fell from 27.5% in
2012 to 8.2% in 2021.
this reflects the persistently large
share that raw commodities (oil, cocoa,
and gold) contribute to Ghana’s exports.
It is also a result of the country’s importing
goods not sourced in Africa (motor
vehicles, petroleum, processed foods,
etc.).
despite this trend, AfdB, said Ghana
is aware of the opportunities associated
with regional integration, both in terms
of partners and in terms of diversification.
It also said Ghana values integration
with Africa outside the ECoWAS region,
as seen by its rapid ratification of the
AfCFtA Agreement.
• If deeper integration with
continent is pursued – AfDB
“Facilitating African trade, both continentally
and regionally, would give
Ghana a chance to make its basket of exports
more heterogeneous Africa’s growing
demand for processed products and
intermediate goods could drive domestic
industrialization. this is particularly
true in the ECoWAS region, where
Ghana is strategically located to trade
with the landlocked countries of Burkina
Faso, Mali, and Niger. Yet limited domestic
and cross-border infrastructure
has kept regional trade to only 7% of all
trade”.
Way forward
the AfdB said acknowledging the
importance of linking Ghana with its
trading partners while expanding spatial
inclusion at home, the Bank’s country
strategy for 2019–2023 features a pillar
for developing infrastructure that enables
domestic, regional, and global
trade.
Within this framework and drawing
on the success of the Fufulso–Sawla
Road Project, the Bank is duplicating its
integrated approach to infrastructure
development in other projects.
one is the Eastern Corridor Road development
Programme, which seeks to
deepen inclusivity, stimulate socioeconomic
development, and facilitate domestic
and regional trade along the N-2
road that links the southern seaports to
the hinterland and Ghana’s landlocked
neighbours in the north.