Business News of Tuesday, 28 December 2021
Source: www.ghanaweb.live
2021-12-28Small Scale mining contributes 35% of Ghana's total gold production - Bawumia
Ghana’s Vice President, Dr Mahamudu Bawumia
Small scale mining key to Ghana become the leading producer of Gold in Ghana
Bank of Ghana to buy Gold from small scale miners
Small scale miners awarded
Ghana’s Vice President, Mahamudu Bawumia, has said that Small Scale mining currently contributes about 35 percent to Ghana’s
Read full articletotal Gold production.
According to the vice president, the contribution of Small Scale mining has been instrumental to the significant increase in the country’s gold production over the years, making Ghana the leading Gold producer in Africa.
"As we all know, Ghana’s Gold production has increased significantly over the past few decades making it the leading Gold producer in Africa. The contribution of Small Scale mining to this trend is commendable. Currently, it is estimated that the Small Scale mining contributes about 35 percent to Ghana’s total Gold production and 35 percent is huge.”
Dr Bawumia who made these remarks at the Responsible Small Scale Mining Awards in Accra said the awards ceremony was to commend and encourage small scale miners who refuse to engage in illegal mining and follow the legal mining process of Ghana.
“All too often, our problem solving turns to focus more on chasing and punishing wrong doers and not recognising and rewarding those who do right and this is what makes this award different.
“The award recognises players in small Scale Mining sector who despite the temptation to join the wrong doing bandwagon, have decided to stay within the relevant regulatory framework for the country and to operate responsibly,” he explained.
He said the government was putting in place a gold purchase programme by the Bank of Ghana to ensure that small skill mining was lucrative.
“We have also persuaded the Bank of Ghana and they have also accepted to start a gold purchase programme, for the first time in history, a deliberate gold purchase programme targeting purchasing gold from small scale mining sector.
“This is going to be a boost for the small scale mining sector when the Bank of Ghana comes in to buy some of your outputs to build the country’s gold reserves.”
