Ghana is bolstering local content in its mining sector by supporting small-scale miners, promoting local procurement, and enhancing training for local workers. The forthcoming Mining in Motion Summit will highlight the impact and roles of local entities. Significant results include one million jobs in small-scale gold mining and over $5 billion in 2024 export revenue. The government has introduced several initiatives to further empower local miners and formalize the sector.
Ghana is advancing its local content participation in the mining sector to maximize mineral resource benefits. Efforts include supporting small-scale miners, promoting local procurement, and ensuring that international firms employ and train local personnel. These initiatives aim to create jobs, generate revenue for local businesses, and boost GDP growth through an expanding mining sector.
The upcoming Mining in Motion Summit, scheduled for June 2-4, 2025, in Accra, will emphasize local mining entities’ roles in industry growth. The event will showcase collaborations between the government and international partners focused on stimulating economic advancement via increased local participation.
Ghana’s dedication to local involvement is demonstrating significant results: the small-scale gold mining sector employs one million people, supporting an additional 4.5 million indirectly, and produced over $5 billion in export revenue in 2024.
To empower local stakeholders, the government has implemented vital policy reforms, financing, and skills training initiatives. Notably, the Gold Board will be established in March 2025 to unify gold output from small-scale and industrial projects for international exports, thus facilitating funding opportunities for small-scale miners.
Additionally, in August 2024, Ghana introduced a Cooperative Mining Policy aimed at forming community mining cooperatives. These cooperatives will provide essential training, register miners, and issue concessions, promoting job creation and sector formalization.
Moreover, the Environmental Protection Agency and the Ministry of Lands and Natural Resources received World Bank funding in April 2024 to launch the Ghana Landscape Restoration and Small-Scale Mining Project. This initiative seeks to enhance formalization in small-scale mining through District Mining Committees. Also, the Minerals and Mining Regulations require international firms to procure Ghanaian goods and services, boosting local project development and maintenance involvement.
With ongoing large-scale projects, including Goldstone’s Homase Mine and Atlantic Lithium’s Ewoyaa Project, local content participation in Ghana’s mining sector is clearly strengthening. The Mining in Motion Summit will further facilitate high-level discussions and networking on key trends and advancements in local content development within the industry.
In conclusion, Ghana is strategically enhancing its mining sector through increased local content participation, which generates economic benefits, creates jobs, and promotes the formalization of small-scale operations. Initiatives such as the Gold Board, Cooperative Mining Policy, and support for local procurement underline the country’s commitment to empowering local stakeholders. The upcoming Mining in Motion Summit is poised to underscore these developments and facilitate important discussions for the future of mining in Ghana.
Original Source: africanminingmarket.com
