Friday, February 23

Dr. Bawumia Outlines Vision for Mining Sector: Transitioning Towards Responsible Practices

In a significant address delivered at the University of Professional Studies in Accra, Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party, unveiled a comprehensive vision for Ghana’s mining sector. Dr. Bawumia emphasized the imperative of effective regulation, support for small-scale miners, and robust environmental protection measures.

Highlighting the substantial involvement of Ghanaians in small-scale mining, estimated at approximately one million individuals, Dr. Bawumia underscored the necessity of transitioning these miners towards responsible practices. He articulated that such a strategy would not only generate more wealth but also contribute to environmental conservation endeavors.

“About one million people are engaged in small-scale mining. Our goal would be to help grow small-scale mining companies into large-scale entities through capacity building and facilitating access to financing for equipment acquisition. We can create many millionaires in the small-scale mining industry if we support them,” stated Dr. Bawumia.

In a bid to formalize the Artisanal and Small-Scale Gold Mining (ASGM) sector, Dr. Bawumia pledged support for the Minerals Commission and other stakeholders. He proposed sustainable and responsible practices throughout the value chain, enabling most gold produced in this sector to be sold to the Bank of Ghana (BoG) and incorporated into the central bank’s gold reserves.

Furthermore, Dr. Bawumia announced a mandatory registration scheme for all Ghanaians engaged in small-scale mining under the Ghana Small Scale Miners Association, utilizing their Ghana Card. He also revealed plans to collaborate with large mining companies to convert abandoned shafts into community mining schemes and establish additional new schemes.

Dr. Bawumia’s outlined vision signifies a concerted effort towards fostering a more sustainable and regulated mining sector, balancing economic prosperity with environmental stewardship. As Ghana navigates its mining future, these initiatives hold the promise of fostering growth while safeguarding the nation’s natural resources for generations to come.