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Africans Inability To Benefit from Mineral exploitation is Our Own Cause -- Land minister.


Reported by, Nsor Paul Mensah.

The minister for Lands and Natural  Resources, Samuel Abu Jinapor has lamented on the inability of the African people to benefit from mineral resources exploitation on the continent.

He stated this, when addressing delegates in this year’s Africa Prosperity Dialogues being held at the Peduase Lodge in the Aburi Hills, Eastern Region.

According to the minister, the African continent can still boast of about thirty percent (30%) of the world’s global mineral reserves with large deposits of green and emerging minerals like platinum, cobalt, manganese, chromite, bauxite, graphite , copper and many others.

He attributed the failure of the people to enjoy maximum benefits to the dominance of the industry by foreign interests and the exportation of raw minerals , without any value addition or linkages to other sectors of the African economy.

In finding solutions to these problems, Honorable Jinapor admonished that mineral deposits for exportation must be processed before taken to the international market. Again, he said the African people must be equipped to encourage fully across the entire value chain of the mineral industry.

On the interventions of the government of Nana Addo Dankwah Akuffo-Addo to address these challenges, the minister stated that, the government on assumption of office in 2017 has established a four hundred kilogram (400kg) gold refinery, through Public Private Partnership and is in the process to secure London Bullion Market Association (LBMA) certification.

 He said the government is working with Ghana Chambers of Mines to ensure that large scale mining companies, operating in Ghana be listed on the Ghana stock exchange to enable Ghanaians to acquire shares in these companies. He noted that, the Mineral and Mining Regulations, 2020 (L.I 2431) has been enacted to promote local content in the mining industry.

Finally, he advised African countries to come together under the African Continental Free Trading Area Secretariat to adopt a common position on exploitation and management of mineral resources.

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