‘Opportunities abound in Ghana’s mining sector’— Koney
The Chief Executive Officer (CEO) of the Ghana Chamber of Mines, Mr Sulemanu Koney, has made a strong case for more investment in the mining industry in Ghana in view of the fact that the country ranked 6th in Africa on the World Bank’s Ease of Doing Business barometer.
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He also made reference to the predictable, stable, competitive fiscal regime and the useful geological data on some mineralised concessions, coupled with a fairly developed infrastructure to support mining and other related economic activities in the country.
Mr Koney, who was speaking at a business session at the Mining Indaba conference in Cape Town last Tuesday, further observed that with the mining history predating the colonial era, Ghana provided a well-manicured environment for investment in the minerals and mining industry.
The session was organised by the Australian Trade Commission and Export Finance and Insurance Corporation, dubbed, “Chamber of Mines Briefings”.
Overview
Giving an overview of Ghana’s mineral industry, Mr Koney mentioned gold, diamond, manganese and bauxite as the mainly exploited minerals, with kaolin, mica, salt, iron ore and limestone as the less exploited.
He said there were profitable opportunities throughout the entire spectrum of mining and that there were also significant deposits of unexploited gold across the country especially in eastern and northern Ghana.
Opportunities
Mr Koney stated that the industry’s annual import of Activated Carbon was estimated at $5 million, indicating that the industry could serve as a foundation customer to provide the critical mass necessary to make the production of Activated Carbon economically feasible.
“It is relevant to note that Activated Carbon also finds use in other industries such as water and sewage, petrochemical and breweries,” he added.
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He explained that the industry consumed a large volume of rubber products in the form of vehicle and earth moving equipment for which reason, “companies interested in rethreading of tyres could also find opportunities in the mining industry.”
Ghana, he stated, possessed one of the largest proven renewable solar production potentials along the entire West African coastline of a distance of more than 500 km.
He assured investors of a proper legal framework in the country with the establishment of relevant institutions that regulated the mining sector.
Writer’s email: sebastian.syme4@gmail.com