The Minerals Fee says authorities’s resolution to reject the lease extension for the Damang Gold Mine will not be a setback, however as a turning level for Ghana’s pure useful resource administration.
In line with Isaac Andrews Tandoh, Deputy Chief Govt Officer of the Minerals Fee, this resolution provides Ghana a uncommon alternative to redefine the trajectory of its extractive business and assert higher nationwide management over its mineral wealth.
“For a lot too lengthy, our nation has watched as immense wealth is drawn from our soil, but native communities stay underdeveloped and the advantages to the state fall quick of what’s simply and sustainable,” Isaac Tandoh stated in a bit sighted by Pleasure Information.
“This second provides us the prospect to reset these dynamics,” he added.
His feedback additionally echo current calls by former Chief Justice Sophia Akuffo for a sweeping evaluation of Ghana’s mining legal guidelines and agreements.
Justice Akuffo described lots of the present preparations as “neo-colonial,” highlighting the rising sentiment throughout the continent that Africa should reassert possession of its pure sources.
Citing Burkina Faso’s current transfer to nationalise a number of gold operations, Isaac Tandoh stated Ghana shouldn’t be left behind within the continental shift towards higher useful resource sovereignty.
“This isn’t a disaster, it’s a clarion name, and we should now prioritise Ghanaian traders and consortia who’ve the capability and dedication to function responsibly and reinvest in our communities. That is about long-term nationwide curiosity, not simply short-term income,” he identified.
To that finish, Isaac Tandoh outlined a three-point proposal to information Ghana’s subsequent steps:
• The Ministry of Lands and Pure Sources ought to give priority to Ghanaian-led bids in future mining lease reassignments.
• A moratorium ought to be positioned on new large-scale overseas mining contracts till a complete evaluation of Act 703 and all present agreements is accomplished.
• A Ghana Minerals Sovereignty Fund ought to be established to reinvest earnings from nationwide mining belongings into infrastructure, training, and healthcare in mining communities.
He additionally emphasised that that is the second for daring imaginative and prescient and strategic partnerships with indigenous entrepreneurs who’re totally invested within the nation’s future.
“Ghana deserves to profit totally from its pure wealth. We should rise with a renewed sense of function and reclaim the dignity and dividends of our land,” he added.
The Damang resolution, whereas signaling a shift in authorities posture, might have wider implications for overseas funding in Ghana’s mining sector.
Nonetheless, officers say the precedence have to be aligning extractive actions with nationwide improvement targets and making certain a fairer share for the Ghanaian folks.
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