Mr Mike Hammah, the Minister of Lands and Natural Resources, has said Development Corridors have been established in West Africa for the accelerated development of the mining and minerals sector.
He said the initiative, which was developed under the New Partnership for Africa’s development (NEPAD) Sustainable Development Charter for the Mining and Minerals sector, was targeted at developing infrastructure on a regional scale in the sub-region.
“The development of this infrastructure will not only help in the development of our natural resources but will also help in integrating the economies of the countries of the sub-region,” Mr Hammah said.
A statement issued in Accra on Monday by the Ministry said Mr Hammah was delivering the keynote address at a workshop organized by the Centre for Public Interest Law in Accra on the theme “The importance of mining in the Development of the West African Sub – region.”
The workshop was convened to discuss the Economic Community of West African States (ECOWAS) directive on the Harmonization of Guiding Principles and Policies in the Mining and Minerals Sector.
The directive was formulated in May 2009 and subsequently published in the official journal of ECOWAS, following its adoption by the ECOWAS Heads of State.
Mr Hammah, referring to the three corridors developed under the initiative, cited the Dakar–Port Harcourt Development Corridor covering Senegal, The Gambia, Mali, Niger and Nigeria which is intended to facilitate the development of the substantial reserves of gold, iron, coal, uranium, sands, phosphates and attapulgite found in the area.
The second corridor, he said, was the Sekondi/Takoradi–Ouagadougou Development Corridors covering Ghana and Burkina Faso, which is expected to aid the development of the manganese, gold and iron ore deposits.
The Conakry/Buchanan Development Corridor covering Guinea, Liberia and Cote d’Ivoire would facilitate the development of large mineral deposits in southern Guinea cited as a basis for the development of infrastructure to link the Conakry/Kankan railway line as well as link mineral deposits in the west of Cote d’Ivoire to the Liberian port of Buchanan.
Mr Hammah reaffirmed that the government’s commitment to the development of the mining sector was reflected in the numerous geo-scientific studies conducted over the Volta River and Keta basin which has a high potential for hydrocarbons in a bid to unearth more minerals for the country.
He added that a staggering US$10.8 billion invested in the sector in Ghana over the past decade had led to a substantial increase in the mining sector’s contribution to the economy.
In 2010, the sector accounted for 49 per cent of total merchandise exports, up from 20 per cent in the mid 1980’s; constituted 12 per cent of government revenue; accounted for six per cent of GDP, while gold production posted an unprecedented 3.3 million ounces or 103 metric tonnes.
Updating the workshop on the five–nation group commissioned to draft the ECOWAS Minerals Development Policy and Implementation plan, the Minister said the group had finalized the drafting of the policy which would assist member countries to follow a systematic route in the implementation of the ECOWAS Directive.
The Minister was also optimistic that deliberations at the workshop would contribute significantly to the development of the policy and its implementation would also ensure sustainable development of mineral deposits in the West Africa sub-region.
Ghana was selected during the National Experts and Council of Ministers meeting in Liberia in October 2010 to join a five-nation task group to draft the ECOWAS Minerals Development Policy.