What's Happening?
The Ghana Chamber of Mines has reiterated its call for stable and predictable mining policies to ensure long-term investment and sustainable growth in the sector. This appeal was made by Michael Edem Akafia, President of the Chamber, during the 11th Ghana Mining
Industry Awards in Accra. Akafia emphasized the critical juncture at which Ghana's mining industry stands, facing global competition and rising societal expectations. He highlighted the risks posed by frequent changes in regulatory frameworks, particularly fiscal regimes, which could deter investment. The Chamber advocates for a transparent policy environment that balances national interests with business growth. Additionally, the Chamber supports the establishment of a Minerals Revenue Management Act to ensure transparency in the use of mineral revenues. The event also recognized outstanding contributions in the mining sector, with AngloGold Ashanti Iduapriem Mine winning Mining Company of the Year.
Why It's Important?
The call for consistent mining policies is crucial for maintaining investor confidence and ensuring the sustainable development of Ghana's mining sector. Frequent regulatory changes can create uncertainty, deterring long-term investments that are essential for the capital-intensive mining industry. By advocating for a stable policy environment, the Chamber aims to attract more investments, which could lead to job creation and economic growth. The proposed Minerals Revenue Management Act could enhance transparency and accountability in the use of mineral revenues, benefiting the broader economy. The recognition of industry excellence at the awards highlights the sector's potential to contribute to national development if supported by consistent policies.
