The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, has declared that the government will be reluctant to extend mining leases to companies that fail to contribute meaningfully to the country’s development.
His statement underscores the administration’s renewed commitment to ensuring that mining benefits are translated into tangible socio-economic progress for host communities.
The minister made this assertion during a high-level meeting with the management of Goldfields Ghana Limited on Friday, February 21, 2025, in Accra. The engagement aimed to strengthen government-industry relations and reinforce corporate accountability in the extractive sector.
Hon. Emmanuel Armah-Kofi Buah emphasized that the government expects mining firms to take responsibility for the socio-economic well-being of host communities.
He highlighted the significance of integrating local content policies and development initiatives into mining operations to ensure long-term sustainability and national progress.
“We want mining companies to understand and appreciate their responsibilities to host communities.
“The government is committed to ensuring that the benefits of mining are channeled into community development and the enhancement of local capacity.”
Hon. Emmanuel Armah-Kofi Buah, Minister for Lands and Natural Resources
His remarks align with broader policy efforts to improve the extractive industry’s contributions to local economic development, especially through employment generation, infrastructure projects, and social interventions.
One of the key topics discussed at the meeting was the joint venture between Goldfields and AngloGold Ashanti, aimed at creating Africa’s largest gold mine.
Hon. Armah-Kofi Buah assured Goldfields that the government would expedite the necessary processes to facilitate the establishment of the mega mining project. He reiterated that Ghana’s ambition is to solidify its status as a mining hub in Africa.
The joint venture is expected to boost Ghana’s gold production significantly and attract further investment into the country’s mining sector.
By leveraging the strengths of both mining giants, the initiative could drive job creation, technological advancements, and enhanced infrastructure development in mining communities.
Goldfields Commit to Local Content and Sustainability
Acknowledging Goldfields as a key stakeholder in Ghana’s mining sector, Hon. Armah-Kofi Buah urged the company to scale up its local content initiatives.
He noted that fostering stronger local participation in mining operations is essential for bridging development gaps in host communities.
Goldfields Ghana Limited, a major gold producer, reaffirmed its dedication to sustainable mining practices. Mr. Elliott Twum, Acting Managing Director of Goldfields, assured the Ministry of the company’s commitment to expanding its socio-economic contributions.
“We remain dedicated to environmental and social interventions, the promotion of local content, and enhancing business supply chains that support the growth of indigenous enterprises.”
Mr. Twum also highlighted the company’s commitment to developing mining projects that not only generate revenue but also positively impact host communities.
The meeting also provided an opportunity for Goldfields’ executives to congratulate Hon. Armah-Kofi Buah on his appointment and to reaffirm their support for his leadership.
The campany expressed optimism that enhanced collaboration between the government and mining companies would foster more responsible and sustainable mining practices.
With the government prioritizing sustainable resource management, mining firms operating in Ghana face increasing expectations to align their business strategies with national development goals.
The administration’s stance on mining lease extensions serves as a clear signal that compliance with local content regulations and community development commitments will be key determinants in securing government support.
The firm stance taken by Hon. Emmanuel Armah-Kofi Buah reflects Ghana’s growing emphasis on ensuring that its natural resources yield maximum benefits for its people.
As the government seeks to transform the mining sector into a vehicle for socio-economic advancement, mining companies will need to enhance their corporate responsibility efforts to align with national development objectives.
By holding mining firms accountable for their contributions to local economies, Ghana is positioning itself as a leader in responsible and sustainable resource management.
The success of initiatives such as the Goldfields-Anglogold joint venture will be pivotal in shaping the country’s future as a mining powerhouse, ensuring that resource extraction leads to long-term prosperity for all stakeholders involved.
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