On Wednesday, 5th June 2024, the Minister for Lands and Natural Resources, Hon. Samuel A. Jinapor, unveiled a transformative vision for sustainable mining and power investment during the 2024 West African Mining and Power Conference and Exhibition (WAMPOC/WAMPEX).
Addressing delegates from across the region, Jinapor emphasized the importance of prioritizing sustainable investment opportunities that not only bolster the mining and power sectors but also enrich host communities.
Hon. Jinapor, speaking on behalf of President Nana Addo Dankwa Akufo-Addo, reaffirmed Ghana’s ambition to become the premier mining hub in Africa. He detailed strategic initiatives aimed at driving sustainable investment and development within these vital sectors. Highlighting Ghana’s position as the leading gold producer in Africa and a pivotal mining services center in West Africa, Hon. Jinapor underscored the government’s commitment to balancing resource extraction with environmental stewardship and community upliftment.
“This afternoon, I will have the privilege of commissioning a new Office Complex for the Minerals Commission at Akim Oda in the Eastern Region. We are poised to take the regulatory mandate of the Minerals Commission to where mining actually takes place, thereby promoting efficiency in service delivery and effective monitoring of mining operations.”
Hon. Samuel A. Jinapor, Minister for Lands and Natural Resources
To ensure the long-term viability of the mining industry, Hon. Jinapor highlighted incentives for exploration activities and measures to enhance local participation.
Hon. Samuel A. Jinapor stated, “We are promoting investment in exploration to uncover new mineral reserves. For example, we are working with the Ghana Revenue Authority and the Ghana Chamber of Mines to explore the best framework for treating critical imposts such as VAT on exploration.”
Additionally, the Lands Minister noted the listing of Atlantic Lithium Limited on the Ghana Stock Exchange, allowing Ghanaians to own part of the company and its operations.
Hon. Samuel A. Jinapor also announced the construction of a gold refinery and plans to restrict raw bauxite exports. “We have constructed a four-hundred-kilogram capacity gold refinery to refine the gold we produce, and work on a $450 million manganese refinery will soon commence,” he disclosed. Furthermore, a new Legislative Instrument will be enacted to restrict the export of raw bauxite, fostering an integrated aluminum industry within the country.
“We must continue to work together to overcome the challenges that confront the industry, including the issue of illicit financial flows. As we work to drive sustainable investment opportunities, we must ensure that these investments benefit host communities who bear the immediate consequences of our work”
Hon. Samuel A. Jinapor, Minister for Lands and Natural Resources
Charting of Sustainable Paths
Delivering the keynote address on behalf of the Asantehene, His Royal Majesty, Otumfuo Osei Tutu II, the Omanhene of Essumeja and Asanteman Bekumhene, Odehene Okyere Kusi Ntrama, encouraged participants to adopt greener methods, such as wind or solar energy, to combat climate change.
“Feel it as a duty to ensure that mining and power can be carried out in a sustainable manner to help save our environment. Do not shy away from this,” Odehene Okyere Kusi Ntrama added.
The Asanteman Bekumhene also urged investors to see the need to invest in Ghana, assuring them that they would not be disappointed, and emphasized the importance of developing catchment communities. He entreated all to commit to sustainability, highlighting that government and industries have a role to play in making the theme of the 17th WAMPOC/WAMPEX24 Conference a success.
On his part, the Chairman of the Conference and President of the Ghana Chamber of Mines, ESQ. Michael Edem emphasized the importance of the WAMPEX/WAMPOC Conference at this crucial juncture. He expressed hope that the 3-day event would provide participants with the opportunity to reflect, explore opportunities, and chart sustainable paths for the future of the mining and power industries.
The CEO of the Ghana Chamber of Mines, Mr. Suleman Konney, in his welcome address, announced that while the conference portion of WAMPOC concludes today, the exhibition WAMPEX will continue until June 7, 2024. He emphasized that this year’s theme, “Driving Sustainable Investment Opportunities in West Africa,” reinforces the need for businesses in the mining and power sectors to remain viable amid economic challenges, while also transforming the sub-region.
WAMPOC/WAMPEX24 is an international networking conference and exhibition for the mining and power industry in West Africa, bringing together industry leaders, West African ministers for mining and power, international and local investors, NGOs, researchers, and traditional leaders.
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