Mining tools and equipment will be produced locally – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has stated that government is looking at blocking mining expenditure leaks from the domestic economy.

It is, therefore, seeking to integrate the value chain of the mining industry with other sectors of the economy.

This was contained in a speech read for him by the Vice President, Dr. Mahamadu Bawumia, at the launch of the Ghana Gold Mining Week in Takoradi in the Western Region.

The Ghana Gold Mining Week aims at showcasing Western Region’s mineral resources potential, promoting Ghana’s mining sector to the international community, and building strong partnerships to develop mineral resources for the sustainable development of the country.

The initiative, introduced by the Western Regional Coordinating Council in 2020, is an annual event.

He said he is aware of the significant leakages from the mining sector expenditure and seeks to change it.

“I am aware of the fact that significant amount of the mining sector expenditure leaks from the domestic economy through the importation of several tools and equipment, which Ghana has the capacity to produce.

“This government seeks to change this narrative. We are equipping the private sector in ways to fill these leakages and build capacity for such production locally.

“We are doing this by working closely with industry and academia, like the University of Mines and Technology, to equip young professionals with the skills required to operate competitively in the sector and perform innovative researches.

“I believe with our structured efforts of integrating the mining industry to propel the local industries, the entire mining value chain would be ready to create jobs, and we intend to tap into it to develop our economy,” Vice President Bawumia said.

The President is urging all stakeholders in the mining sector to help integrate it with the other sectors of the economy.

“I will ask all stakeholders in the sector to continue to work with us to deepen the integration of the mining sector with the non-mineral sectors of the economy.

“I am certain that integrating the mining sector with the other sectors of the economy will not just develop the entire economy, but will promote inclusive and sustainable growth within the very communities within which the mining is done,” he stated.