Alhaji Dr. Mahamudu Bawumia, the Vice President of the Republic of Ghana, has hinted that in conjunction with the Bank of Ghana (BoG), government is going to start a deliberate gold purchase programme which will target purchasing gold from the Small Scale Mining sector.
According to the Veep, after series of deliberations, the Bank of Ghana has been persuaded to start this programme which is going to be the first of its kind in the history of the nation, adding that the programme when started, will boost the Small Scale Mining sector as purchases made will build the country’s gold reserves.
He made this known at the maiden edition of the Responsible Small Scale Mining Awards held at Alisa Hotel, Accra.
Dr. Bawumia explained that Ghana as a country has benefited from Small Scale Mining over the years, touting that he believes Small Scale Mining has contributed immensely to Ghana becoming the leading Gold producer in Africa.
“As we all know, Ghana’s Gold production has increased significantly over the past few decades, making it the leading Gold producer in Africa. The contribution of Small Scale Mining to this trend is commendable. Currently, it is estimated that the Small Scale Mining contributes about 35% to Ghana’s total Gold production and 35% is huge.
“We have also persuaded the Bank of Ghana and they have accepted to start a gold purchase programme, for the first time in the history, there is a deliberate gold purchase programme targeting purchasing gold from small scale mining sector.”
Dr. Mahamudu Bawumia
Small Scale Mining Must be Done Properly
Dr. Mahamudu Bawumia, however, cautioned that regardless of the many advantages of Small Scale Mining, if the act is not done responsibly, it can and will damage the environment.
He therefore, called on the Miners to mine responsibly to help save the environment and the country’s natural resources.
The Vice President commended the efforts of the Minister, Hon. Samuel A. Jinapor and his two Deputy Ministers for their leadership role in clamping down galamsey and protecting the environment.
“The Minister has since his assumption of office, brought a renewed approach to the process of ending galamsey through diverse initiatives.”
Dr. Mahamudu Bawumia
He thus, cited an example of how the Minister made a passionate plea for the 3% withholding tax being paid by Gold producers to be slashed down to 1.5%.
The Veep went on to applaud the organisers of the programme for working tirelessly to achieve such a great feet for the mining sector and for Ghana.
Dr. Bawumia used the opportunity to congratulate the winners of the various categories of Awards, saying that the award should be a motivator to other Miners to do better at their jobs and also keep the environment safe while at it.
The Minister for Lands and Natural Resources Hon. Samuel A. Jinapor in his welcome address, expressed his profound gratitude to the Vice President of the Republic and to the Chief of Staff for taking time off their very busy schedule to honour his invitation and for all the support.
He also sent out his appreciation to leadership and members of the Ghana National Association of Small-Scale Miners (GNASSM) for partnering with the Ministry of Lands and Natural Resources, to institute this all-important award scheme and for their tremendous support of Government’s quest to sanitise the small-scale mining industry.
The Minister also disclosed that in the coming year, the Ministry, will continue to pursue measures that are necessary to restore sanity into the small-scale mining industry.
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