Ghana is set to make significant strides in its mineral sector with the construction of a $450 million manganese refinery, a strategic initiative announced by Mr. Martin Ayisi, CEO of the Minerals Commission.
This project, born out of a partnership between the Government of Ghana and a Chinese manganese company, is expected to dramatically increase the country’s manganese revenue and create substantial economic benefits.
Mr. Ayisi made this significant announcement while speaking at the 7th Annual Mining on Top Africa Summit in Paris, France on Wednesday, July 3rd, 2024. During his address on the topic, “Mining Partnership for Long-Term Successful Projects: Meeting Obligations and Exploring New Avenues,” he emphasized the economic benefits of the new refinery.
“The construction of this refinery is not just about boosting revenue. It’s about creating jobs and ensuring that our youth have opportunities within their own country.
“We anticipate that the refinery will generate approximately 400 jobs for Ghanaian youth, significantly impacting local employment and economic growth.”
Mr. Martin Ayisi, CEO of the Minerals Commission
Ghana has been exporting raw manganese since 1916, but the current administration is committed to ending this practice. Mr. Ayisi highlighted the government’s dedication to adding value locally, which is a key component of their broader strategy to transform the mineral sector.
“The era of exporting raw materials is over. We are now focused on processing our resources locally to retain more value within the country. This refinery will enable us to do just that, increasing our manganese revenue and ensuring that the benefits of our natural resources are felt by all Ghanaians.”
Mr. Martin Ayisi, CEO of the Minerals Commission
The construction of the refinery is set to begin in August 2024. This timeline reflects the government’s urgency in implementing projects that can quickly contribute to the country’s economic development. The refinery is expected to not only increase revenue from manganese but also set a precedent for future mineral processing projects in Ghana.
Additionally, Mr. Ayisi revealed plans for establishing a lithium mine by the end of 2024, further enhancing Ghana’s local processing capabilities.
“This project is expected to take 22 months to complete, and it will add significant value to Ghana’s mineral resources,” Mr. Ayisi noted. This ambitious plan is part of a broader strategy to diversify and deepen the value chain of Ghana’s mineral sector.
Advocacy for Local Participation
Mr. Ayisi’s address at the summit also included a call to other African countries to emulate Ghana’s approach to mineral resource management. He urged governments to adopt policies that facilitate local participation in the mining industry, ensuring that citizens benefit directly from their countries’ natural wealth.
“Local ownership and participation in the value chain are crucial. We need policies that allow our people to own shares in mining companies and be active participants in the industry. This will ensure that the benefits of our resources are shared more equitably among our citizens.”
Mr. Martin Ayisi, CEO of the Minerals Commission
In his remarks, Mr. Ayisi also emphasized the importance of stable governance in fostering long-term partnerships in the mining sector. He advised investors to carefully consider the governance practices and stability of countries before making commitments.
The announcement of the $450 million manganese refinery represents a significant milestone in Ghana’s journey towards greater economic self-reliance and value addition in its mineral sector. By focusing on local processing and advocating for increased local participation, the government is laying the groundwork for a more prosperous and equitable future.
Mr. Ayisi’s vision for the mineral sector extends beyond mere revenue generation. It encompasses job creation, local empowerment, and sustainable economic growth.
As Ghana embarks on this ambitious project, it sets an example for other African nations to follow, demonstrating the power of strategic partnerships and forward-thinking policies in transforming natural resource management.
The construction of the manganese refinery and the establishment of a lithium mine are poised to reshape Ghana’s economic landscape, fostering a more inclusive and robust mineral sector. With the government’s commitment to initiating construction in August 2024, the future looks promising for Ghana and its citizens.
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