Samuel A. Jinapor, Minister for Lands and Natural Resources has proposed three strategic measures to enhance the relationship between the government and the Ghana Chamber of Mines, aiming to boost the mining sector’s contributions to the national economy.
Speaking at the 10th Ghana Mining Industry Awards held at the Kempinski Hotel Gold Coast in Accra on Friday, November 22, 2024, Mr. Jinapor highlighted the significant achievements of his ministry in collaboration with the Chamber. He credited the partnership for positioning Ghana as Africa’s leading gold producer and achieving record-breaking production figures.
“Since assuming office, I have enjoyed a fruitful partnership with the Ghana Chamber of Mines. Together, we have not only overtaken South Africa as the continent’s top gold producer but also consistently increased output, reaching 4 million ounces last year,” he stated. Preliminary data for 2024 already shows over 2 million ounces produced in the first half of the year, indicating Ghana is on track to surpass last year’s figures.
The minister praised the Chamber’s leadership, including past and current presidents and CEOs, for their collaborative spirit. He noted that their joint efforts have made the mining sector a cornerstone of Ghana’s economy, with gold alone contributing $4.67 billion in export receipts as of August 2023 and $5 billion in the first half of 2024. Projections for the year suggest export revenues from gold could exceed $10 billion.
To sustain and enhance these gains, Mr. Jinapor proposed three key actions:
Revisiting VAT on Exploration: Emphasizing exploration as the lifeblood of the mining industry, the minister urged the next government to prioritize addressing VAT on exploration activities. He highlighted past efforts to review the tax but acknowledged that political constraints had delayed progress.
Strengthening Mine Security: Ensuring the safety of mining operations is crucial, the minister said, noting that specialized security forces have already been trained and deployed. He urged future administrations to implement agreed recommendations to safeguard mines.
Community Development: Mr. Jinapor stressed the importance of developing mining communities to foster goodwill and security. “When local communities are satisfied, the mines are safer. Let us work together to promote their development while combating illegal mining,” he stated.
The event also celebrated excellence in the mining sector, with awards presented to companies and individuals for their contributions. Anglogold Ashanti Iduapriem Mining Limited took home the coveted “Mining Company of the Year” award, presented by Mr. Jinapor.
Chief Executive Officer of the Ghana Chamber of Mines, Sulemanu Koney, lauded Mr. Jinapor’s visionary leadership, describing him as a committed and amiable advocate for the sector. He noted that the minister’s tenure has seen remarkable growth in gold production and strengthened relations between the government and industry players.
The awards ceremony underscored the critical role of the mining sector in Ghana’s economy, with stakeholders pledging to continue fostering innovation, collaboration, and sustainable practices.
