Government’s drive to deepen indigenous participation in Ghana’s mining industry faces a financing challenge, with local contractors struggling with securing the capital needed to compete for mining contracts as authorities pursue reforms aimed at strengthening local content.
Gold Fields Ghana Limited has spent US$4.26 billion on goods and services over five years, including US$2.59 billion in its host communities, putting the spotlight on how mining procurement can translate into lasting economic opportunities for local businesses.
Illegal mining is threatening the safety and livelihoods of residents in Ayensuano district of Eastern Region, with farmers facing alleged land encroachment, intimidation and destruction of their farmlands.
The Minister for Environment, Science and Technology has called for stronger enforcement to protect legal mining concessions from encroachment by illegal miners.
The Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Mrs Justina Nelson, has highlighted the importance of investment, data sharing and regional cooperation in helping African countries derive greater value from their mineral resources.
Government has ordered the immediate suspension of offshore gold exploration activities by Goldcoast GRC Ghana Limited, months after granting the company reconnaissance licences to search for minerals in Ghana’s territorial waters.
The Minerals Income Investment Fund (MIIF) is exploring investments and strategic partnerships across the domestic mining supply chain. Steel manufacturer B5 Plus is an identified potential partner as the Fund seeks to increase local participation and retain more value from mineral production.
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