The Chief Executive Officer (CEO) of the Ghana Chamber of Mines, Dr. Sulemanu Koney believes that the Ministry of Trade and Industry must show commitment to ensuring that mining companies adopt the local content strategy to help bridge the unemployment situation in the country.
Dr. Koney said the chamber is currently advocating for alignment of policy between the Ministry of Lands and Natural Resources and the Ministry of Trade Industry, this could go a long way in deepening local content, especially in the mining sector.
Speaking at the local content workshop and exhibition in Accra on December 16, 2022, Dr. Koney said the Trade and Industry Ministry must show more interest in local content deliberations of the mining industry.
“For us to realise this, we need effective partnerships and collaborations at all levels of decision-making. In this regard, I am pleased with the level of collaboration we continue to receive from the Minerals Commission and the Association of Ghana Industries.
“What is missing and requires some upgrade is policy alignment between our sector ministry, the Ministry of Lands and Natural Resources and Ministry of Trade and Industry,” he added.
“It is a known fact that local content in the mining industry, technically speaking refers to mining inputs which fall under generic industry and not mining per se. It is therefore important that we succeed in getting the Ministry of Trade and Industry to show more interest in local content deliberations of the mining industry,” Koney said.
He said the chamber has sought to leverage mining companies’ presence in the country to support broad-based national economic development through stakeholder engagements where several initiatives are being implemented to grow local content within the mining industry as well as catalyze same to develop a strong and resilient economy.
“As we may be aware, producing member companies return about 75% of their total mineral revenue to Ghana through the payment of taxes, royalties, employee compensation, and payments for goods and services among others.”
“The real question is how we work with local entrepreneurs to produce mining inputs locally and not just act as stockists by importing and supplying same to the industry.”
Dr. Koney revealed that in a joint study of the Chamber of Mines and the International Council of Mining and Metals, a few years ago, it was observed that by increasing the local procurement of mining companies by 25%, the economic value added to the larger economy will be $50 million.
“As we gather here today for this workshop, it is my expectation that we will discuss the issues facing our industry with regards to local content dispassionately and offer concrete solutions to help address them,” the CEO stated.
The Ghana Chamber will continue to pursue an agenda of using mining as a catalyst for development and continue to support government in its efforts to revive our economy.
He added that one way of doing this is to put “our shoulders on the wheel to support and nurture local enterprises to produce and supply to the mining industry. The benefits will be enormous for the state and the industry. Indeed, the critical mass demand of the mining could justify investment in the production of mining inputs.”
Dr. Koney used the occasion to acknowledge the contribution of AECI Ghana Limited, Gold Fields Ghana Ltd, Ramoth Services, B5 Plus, Asanko Gold Ghana Limited and Wayoe Engineering & Construction.
The rest are SGS, Adamus Resources, Servaco PPS, Kal Tire and Antrak Logistics for their irreplaceable support for the workshop.
