Mining players have called for wider consultation on any revision to the prevailing fiscal policy regime that has a potential to affect the industry.
While recognising that “fiscal issues sit with the Ministry of Finance”, Chief Executive of the Ghana Chamber of Mines, Sulemanu Koney, said the sector ministry and Minerals Commission should be given a say in potential changes to the fiscal regime. This, he said, will prevent such decisions impacting the industry negatively.
This development comes on the back of concerns that fiscal policy adjustments arrive with ‘serious ramifications’ on mining investments, hence the need to consider sustainable investment policies.
The Chief Executive-Ghana Chamber of Mines, who was addressing mining industry stakeholders at the ‘Pre-Mining Indaba Network Forum’ in Accra, reiterated the need for government and private sector players to continue deepening collaboration.
This, he added, will help attract mining capital into the country to engender broad-based socio-economic development – especially at the back of present global economic challenges.
Also, Mr. Koney noted that the country’s participation in the annual Mining Indaba and other international conferences underscores a desire to showcase its mineral potential and competitive mineral policy regime to the international investor community.
“While this laudable initiative is certainly a key element of promotion, exhibitions by themselves are unable to market a country or product optimally,” he said.
Furthermore, he opined that with the support of government, the mining sector can be positioned as the country’s anchor in its industrialisation drive.
To this end, he proposed that the Ministries of Trade and Industry, Lands and Natural Resources and Finance synchronise policies to realise a mining industry that is fully integrated into the non-minerals economy.
The ‘Pre-Mining Indaba Network Forum’ was organised by the Ministry of Lands and Natural Resources in partnership with the Minerals Income Investment Fund, Minerals Commission and Ghana Chamber of Mines.
The event was held under the theme ‘Leveraging over a century of mining to enhance value addition for the development of Ghana’.
The Deputy Minister for Lands and Natural Resources, George Mireku Duker – also speaking at the event, noted that the aim is to bring all stakeholders together for a conversation on expectations for the event.
It was also to enable the ministry share plans for the 2023 Mining Indaba and assess gains made from the previous year’s event.
The previous year’s event influenced government’s resolve to double its efforts to realise the vision of making Ghana the mining hub of Africa.
