play videoCEO of Minerals Income Investment Fund, Edward Nana Yaw Koranteng
Quarries industry may not support construction and infrastructure needs of the country, MIIF CEO
Encroahcers a threat to quarry industry, MIIF CEO
We'll deal with encroachers, Deputy Lands Minister
Ghana risks importing stones and chippings from its neighbouring countries if the continuous encroachment on quarry lands is not looked at, Chief Executive Officer of Minerals Income Investment Fund (MIIF),
According to him, in the next 15 years, the quarry industry cannot support the construction and infrastructure needs of the country.
Touring quarry sites and interacting with operators in the Western and Ashanti regions on Friday, April 1, 2022, Mr Koranteng noted that encroachment remains a major threat to the quarry industry.
“We are faced with an existential threat to the quarry industry. The problem of encroachment is incurably bad. If we do not do something about it today, there can be no doubt that within 15 years, the quarries in operation in Ghana cannot support the construction and infrastructure requirements of the country," he said.
“We may then have to import stones from Togo, Burkina Faso or Cote d’Ivoire to support our fast-paced infrastructural development,” Mr Koranteng stated.
He noted that GH¢100 million was projected as the money to be received as royalties from the quarry sector but only GH¢3.5 million has been received so far.
Meanwhile, Deputy Minister of Lands and Natural Resources in charge of Mines, George Mireku Duker, has assured that encroachers would be dealt with to preserve the sector.
