GCM will push mining to accelerate devt of Ghana – Dr Koney

The Ghana Chamber of Mines (GCM) will con­tinue to pursue an agenda of using mining as a catalyst for development, the Chief Execu­tive Officer (CEO), Dr Sulemani Money, has said.

That, he said, would be done through supporting local enter­prises to produce mining inputs locally.

Dr Koney said this at the GCM 2022 Local Content Workshop and Exhibition on the theme “Local Content in the Mining Industry: A Catalyst for Economic Development”.

He indicated the focus of the GCM was ensuring that Ghana became a mining support services hub in West Africa.

“Over the years, the Cham­ber has sought to leverage min­ing companies’ presence in the country to support broad-based national economic develop­ment,” he stated.

He said through the Cham­ber’s stakeholder engagements, several initiatives were being implemented to grow local con­tent within the mining industry as well as catalyse same to develop a strong and resilient economy.

Dr Koney said a joint study of the GCM and the Interna­tional Council of Mining and Metals revealed that increasing the local procurement of mining companies by 25 per cent would inject about $50 million into the Ghanaian economy.

Dr Koney said the GCM and its member companies were committed to achieving the local content goals, and for which rea­son were grateful to all panellists and participants for showing heightened interest in this year’s workshop.

Dr Koney stated that the producing member companies re­turned about 75 per cent of their total minerals revenue to Ghana through the payment of taxes, royalties, employee compensation,

 and payments for goods and services.

The Chief Executive Officer (CEO) of the Association of Ghana Industries, Seth Twum Akwaboah, in his remarks, said it was encouraging that both the mining companies and suppliers were committed to the cause of producing and sourcing mining supplies locally.

To this end, he said the capaci­ty of local companies should be built to be able to produce mining inputs locally.

Mr Akwaboah entreated the mining companies to be flexible with the local supplies, saying with time and support, the local companies would grow to meet international standards.

“Mining companies should not give orders local companies cannot meet,” Mr Akwaboah stated.

He called on all stakeholders to support the Local Content Law for it to work, saying “We must move beyond the rhetorics


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