According to Samuel A. Jinapor, Minister of Lands and Natural Resources, gold export revenues will produce $6.6 billion in 2022 to maintain its position as the primary source of export revenue. Mr Jinapor revealed at a news conference in Accra that four additional large-scale mining enterprises would begin production over the next two and a half years.
"After the revival of the Obuasi mine in 2019, the Bibiani mine, which had been dormant for seven years, has also been restored, with production set to begin in October 2022 to improve mineral production and government revenue," he stated.
He stated that talks with Rand Refinery of South Africa, a London Bullion Marketing Association (LBMA) referee, were ongoing in order to acquire certification to easily export and trade refined gold on the international market. He added that the government intended to develop a Gold Souk, a marketplace for the manufacturing and distribution of gold products, and that "PMMC's jewellery business is presently making gold tablets, engrave and plate jewelry." The Minister stated that the government was evaluating the Mining Policy, which was approved in 2014, as well as the Minerals and Mining Act, which was passed in 2006, in order to encourage more investment in the sector.
Concerning natural resource diversification, the Minister stated that the Ghana Geological Survey Authority had increased limestone exploration activities in the Mamprusi West Area in order to establish limestone mines to feed the cement sector. The Authority has also located and examined around 1,275 metric tonnes of clay deposits in the Assin North and Central Districts of the Central Region, suitable for the production of high-quality assay crucibles, bricks, tiles, and electrical porcelain at Assin Fosu and its environs. He added that the government cut the withholding tax on unprocessed gold by small-scale miners from 5% to 3% in 2015 to encourage the sector.
The Minister emphasized that this had resulted in a significant increase in gold exports from small scale mining, from 3,429.91kg in 2021 to 22,158.25kg in 2022. He stated that the Government was implementing the Minerals and Mining Regulations, 2020 (L.I. 2404), in order to track 4,000 excavators and other earth moving equipment, and that a control room had been established at the Minerals Commission, with 75 excavators equipped with tracking devices at various mine sites. Mr Jinapor stated that the National Alternative Employment and Livelihood Programme, which will be implemented in 2021, will provide alternative forms of income for communities impacted by the fight against illegal mining.
He stated that the Programme's Apprenticeship, Skills Training, and Entrepreneurship module would be implemented this year and would teach 5,000 adolescents in agriculture, technical, vocational, industrial, and mining skills.
