Govt Prioritising Value Addition In Natural Resources | General News



President Nana Addo Dankwa Akufo-Addo has disclosed authorities is prioritising worth addition within the pure sources sector to make sure the state derives optimum advantages.

The federal government, he mentioned, can also be strengthening native content material and native participation as effectively to make sure Ghanaians have extra roles within the extraction of those sources.

In accordance with him, that is crucial in view of the truth that the world’s poorest nations are these with the biggest deposits of mineral sources.

Delivering the keynote deal with on the Pure Sources Stakeholder Dialogue in Accra on Thursday, eleventh Could 2023, President Akufo-Addo indicated that 60% of the world’s extraordinarily poor dwell in sub-Saharan Africa with most resource-rich nations on the continent being among the many poorest on this planet.

“These embody nations that maintain big deposits of iron ore, diamonds, bauxite and the biggest mineral reserves on this planet; the biggest producer of cobalt, the second largest producer of commercial diamonds, and fifth largest producer of copper; in addition to the world’s largest reserves of bauxite.”

“Worst of all, lots of the areas the place these sources are discovered seem like among the many most disadvantaged areas on this planet. In our nation for instance, Obuasi, which, for years, hosted the richest gold mine on this planet, stays largely underdeveloped. The story isn’t any totally different from different areas equivalent to Tarkwa, Prestea, Wassa, and Bibiani, which have for hundreds of years been the attraction for adventurers and fortune seekers.”

In accordance with the President, many causes account for these together with poor and short-sightedness in negotiations with firms that exploit these pure sources; corruption, incompetence and political instability, failure to place in place the requisite framework to ascertain the best finish of the worth chain of the extractive trade and intensive tax and royalty exemptions amongst others.

These, he mentioned, have resulted in extraordinary earnings to mining firms on the expense of homeowners of those sources.

He careworn that after centuries of exploitation, Africa nonetheless holds some 30% of the world’s mineral reserves, and even increased proportions of gold, diamond, bauxite and manganese however the contribution of those sources to socio-economic growth has been considerably terrible.

“With all these sources, we must always have been the richest continent on this planet. The irony, nevertheless, is that Africa stays the poorest continent on the planet.”

“We can not repeat these errors. Whereas we perceive that mining firms should make a revenue from their enterprise, it’s important that that is carried out not on the expense of the lands and the those that present these sources,” he mentioned.

President Akufo-Addo careworn that these states ought to harness their pure sources for sustainable growth, which requires exploitation of those sources don’t destroy the pure surroundings.

Minister for Lands and Pure Sources, Samuel Abu Jinapor, in his deal with, assured the federal government stays dedicated to working with all stakeholders to assemble a sustainable and value-added pure sources sector anchored on transparency, integrity and utmost good religion for the advantage of the Ghanaian individuals, the true house owners of those sources.

In accordance with him, the administration of pure sources is not only about safety and exploitation, but in addition extra importantly about sustainability, environmental safety, mitigating local weather disaster, and making certain optimum profit for the house owners of those sources.

“That’s the reason, pursuant to the directions of President Akufo-Addo, we now have been taking a number of measures, over the previous few years, to make sure the efficient, environment friendly and sustainable administration of our pure sources, and even, considerably, implementing insurance policies geared toward retaining the worth chain of those sources in-country.”

He expressed hope by means of the Dialogue, a typical path can be charted to handle Ghana’s pure sources sustainably, add worth to them, retain the best finish of the trade, contribute to the nationwide economic system and shield the surroundings for the collective good.




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