Participants at the just ended Africa Downunder conference in Perth, Australia, have been assured of investment prospects in the minerals and mining sector of Ghana.
Dr. Toni Aubynn, the Chief Executive Officer (CEO) of the Minerals Commission gave this assurance in an address at the plenary session delivered on behalf of the Minister of Lands and Natural Resources, Nii Osah Mills.
The event was attended by several ministers of mines in Africa, business leaders, and executives from the mining service industries. The participants discussed the global human resources service within the African market.
The CEO said the congenial atmosphere existing in Ghana continued to attract foreign investors into the country’s mining sector.
“The availability of abundant mineral resources with basic geo-scientific data, a propitious investment framework and an effective and predictable legal and institutional system to reduce corruption, enforce the rule of law and enhance transparency in the management of Ghana’s mineral resources makes Ghana attractive investment destination,” he said.
Dr. Aubynn said in order to ensure that grounds for mining were available for prospective investors, the ministry is currently cleaning up the concessions map, following a 90-day moratorium imposed on new applications for gold exploration last year.
He explained the move was to weed out speculators who had held on to viable concessions for a considerable length of time without developing them.
“The report on the exercise is currently under ministerial review and very soon viable concessions would be made available for serious investors in the minerals and mining sector of Ghana,” he said.
Dr. Aubynn noted, “Beside gold, Ghana produces significant volumes of bauxite and manganese. These two minerals have been exported for several decades without any value addition. It is, therefore, government’s policy, going forward, that new licences for the exploitation of these bulk minerals (bauxite and manganese deposits) will be linked to value addition.”
In addition, Dr Aubynn said, Ghana was endowed with huge deposits of other untapped minerals such as iron ore, brown clays, kaolin, silica sand, granite and related industrial minerals, including solar salt, alkali and decorative stones which offered great business opportunities for foreign investors.