{"id":65639,"date":"2024-01-29T16:41:15","date_gmt":"2024-01-29T16:41:15","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=65639"},"modified":"2024-01-29T15:37:53","modified_gmt":"2024-01-29T15:37:53","slug":"lets-add-value-to-natural-resources-stop-dig-and-ship","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/lets-add-value-to-natural-resources-stop-dig-and-ship","title":{"rendered":"Let\u2019s add value to natural resources, stop \u2018dig and ship\u2019"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Minister for Lands and Natural Resources, Samuel A. Jinapor, MP, has underscored the importance of value addition to the successful and responsible harnessing of nat\u00adural resources, while urging African countries to follow the blueprint being implemented by the government of Ghana.<\/b><\/p>\n

Delivering a speech at the ongoing African Prosperity Dialogue last Thursday, the Lands Minister underlined the key role value addition played in the economic fortunes of African countries and implored African countries to institute measures that would ensure that min\u00aderal resources were exploited effectively.<\/p>\n

Touching on the theme of the Conference, \u201cDelivering Prosperity in Africa: Produce, Add Value and Trade,\u201d Mr Jinapor identified value addition and local participation as the two principles which were fundamental to the extraction of more value mineral resources and making the extractive sector the bedrock of economic turnaround.<\/p>\n

He stated that the pre-colonial practice of \u201cdigging and shipping\u201d should make way for addition of value to the minerals as it enhances the revenue generation capacity of the country which would culminate into the transformation of the economy.<\/p>\n

To encourage the other countries to chart the same path as Ghana, the Minister outlined some policy interventions made by the Ghana government which were already bearing fruits.<\/p>\n

\u201cWe cannot transform our economies if we continue to dig and ship!!! That is why since assuming office in 2017, Ghana\u2019s President, Akufo-Addo, has been working to ensure that we add value to our mineral resources. Today, for the first time in our country, Government has established, through a Public Private Partnership, a four hundred kilogramme (400kg) gold refinery to refine the gold we produce, and we are working to secure a London Bullion Market Association (LBMA) Certification,\u201d he stated.<\/p>\n

\u201cThe Ghana Integrated Aluminium Development Corporation (GIADEC) and the Ghana Integrated Iron and Steel Devel\u00adopment Corporation (GIISDEC), which we established in 2018 and 2019, respectively, have been working to promote and devel\u00adop integrated aluminium and iron and steel industries, from exploration, through refining, to downstream production. And work is far advanced for the commencement of the construction of a US$450million manganese refinery in Ghana,\u201d he added.<\/p>\n

On Local participation, he said the impor\u00adtance of citizens benefitting directly from the resources in their countries could not be over\u00ademphasised, adding that government owed the citizens a duty to facilitate their participation in the exploitation of their resource.<\/p>\n

He further disclosed that government was currently working on policy with Ghana Chamber of Mines that would compel large scale mining companies to list on the Ghana Stock Exchange, which created a platform for Ghanaian ownership of the companies through acquisition of shares.<\/p>\n

\u201cPursuant to this law, we have increased the items on the Local Procurement List of goods and services reserved for Ghanaians from 29 to 50, retaining, here in our coun\u00adtry, some US$3 billion, annually, which would have otherwise been exported.\u201d<\/p>\n

The maiden edition of the Africa Pros\u00adperity Dialogues series, which kicked off today, Thursday, January 25, 2024, will end on Saturday, January 28, 2024.<\/p>\n

The dialogue series which is an initiative of the Africa Prosperity Network (APN) seeks to bring Africa\u2019s political and business leaders together in conference with other thought leaders on Africa. Not only will they brainstorm on the all-important single-market project for the continent, but the dialogues will also create an annual platform for the continent\u2019s leaders to spearhead collaborative implementation of the African Continental Free Trade Agreement.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Minister for Lands and Natural Resources, Samuel A. Jinapor, MP, has underscored the importance of value addition to the successful and responsible harnessing of nat\u00adural resources, while urging African countries to follow the blueprint being implemented by the government of Ghana. Delivering a speech at the ongoing African Prosperity Dialogue last […]<\/p>\n","protected":false},"author":84,"featured_media":65638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[5092,5096,429],"class_list":["post-65639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nLet\u2019s add value to natural resources, stop \u2018dig and ship\u2019 - Ghana<\/title>\n<meta name=\"description\" content=\"The Minister for Lands and Natural Resources, Samuel A. 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