The Chief Executive of the Ghana Chamber of Mines, Dr. Sulemanu Koney, has revealed that Ghana is capable of extending the production of objects used to refine material in the mining sector to increase production.
According to him, Ghana only procures about 30% of its objects used to refine materials also known as grinding media input from local suppliers.
Speaking at a Grinding Media Workshop organized by the chamber in Accra, Mr. Koney said statistics from the Minerals Commission indicates that local procurement of grinding media increased from over $33 million in 2014 to over $126 million in 2022, while true local procurement increased from over $30 million to over $46 million within the same period.
He said this indicates that local manufacturing of grinding media has increased only marginally.
According to Dr. Koney, the data underscores the need for the country to improve the volumes of local procurement of grinding media.
“This should whet the appetite of local manufacturers of grinding media as the mining industry continues to be a captive market for generic industry, provided the products meet requisite quality standards, and are price competitive”, he mentioned.
Dr. Koney also indicated that leveraging opportunities in the mining supply chain will grow the country’s manufacturing base, improve the weight of manufacturing in the economy, and help expand into West Africa using Ghana as a hub.
The Director of Policy Planning and Minerals Titles Directorate of the Minerals Commission, Mr. Collins Anim-Sackey, said it is important that the country finds a solution to increase local production in order to be able to export some of its mining inputs.
The mining and quarrying sector contributed over 56.38 billion in 2022 as fiscal payments to the state, excluding dividends.
The workshop was themed “Ensuring Local Manufacturing of Quality Grinding Media for the Mining Industry,”
