Close this search box.

PDAC 2024 Summit: Ghana re-affirms commitment for value addition to mineral resources

Ghana’s Minister of Lands and Natural Resources, Samuel Abu Jinapor has reiterated the Government’s policy direction to add value to its natural resources rather than focusing on mere production.

He said the government was pursuing a deliberate and conscious policy to ensure that the indigenes benefited from the country’s resource endowment.

The Minister, thus, cited Ghana’s recent Lithium Agreement with Atlantic Lithium Limited, an Australian mining firm, as a case in point, which emphasised value addition in the entire value chain.

The Minister made the disclosure at the Prospectors and Developers Association of Canada (PDAC) International Mine Ministers Summit ongoing in Toronto, Canada.

Participants in the three-day summit were drawn from Germany, Finland, Ghana, Peru, and Canada to brainstorm on responsible and sustainable natural resources around the globe.

A total of 22 Mine Ministers across the globe were attending the summit, including captains of mining industries from Anglo-American Associatio
ns, Euro Asia Resource Groups, civil society organisations, policymakers and thought leaders.

The Minister also emphasised the government’s decision to explore more of the country’s green minerals and promote energy transition policies to safeguard the environment in view of the rampaging global warming.

Mr Jinapor promoted Ghana’s vibrant mining industry and encouraged investors to take advantage of the country’s stable and peaceful democracy to invest in Ghana.

The summit, dubbed: ‘International Mines Ministers Summit’ was structured to enable the ministers and other stakeholders to deliberate on the various sub-themes coined from the main theme, ‘Striking a Balance for Success: Responsible Mining and the Energy Transition.’

In his contribution to the first session on the theme, ‘Sharing a Path to Success: Building a Framework for Collaboration,’ Mr Jinapor highlighted the far-reaching policies being implemented by the Government and the resilient partnership between the government and mining companies
through the Ghana Chamber of Mines.

He also emphasised the Government’s paradigm shift from ‘digging and shipping’ of natural resources to value addition to reaping more benefits.

The Minister stressed the importance of strong collaboration between government and large-scale mining companies, serving as the fundamental basis for a mutually beneficial avenue for all.

Mr Jinapor underscored the government’s commitment to ensure responsible and sustainable mining practices, not just at the mineral discovery stage but throughout the entire value chain, noting that it’s non-negotiable.

He said the paradigm shift in Ghana’s mining policy from mere production of minerals to value addition was encapsulated in the recent Lithium Agreement, with the government ensuring the establishment of a refinery plant in Ghana and promoting Ghanaian ownership through listing on the Ghana Stock Exchange.

While bemoaning the relatively insignificant benefits African countries derived from their mineral resources, Mr Jinapor cal
led for an ‘affirmative action,’ which would enable mineral resource host countries to benefit more equitably from their natural resource endowment.

That policy, he said, must be deliberate and conscious with the interest of the host countries paramount.

Mr Jinapor re-echoed his long-held view that African countries must take the initiative to contribute to the fight against climate change and be rewarded to motivate them to pursue that path.

While acknowledging energy transition as a noble goal, the Minister underlined the need for producers of the raw materials for clean energy should benefit significantly from the minerals.

The Minister joined his counterparts on the sidelines of the Summit to close the Toronto Stock Exchange amid thunderous applause from global participants.

Source: Ghana News Agency