"It is trite learning that the real value of these minerals lie in value addition.

For example, the difference between the prices of bauxite and aluminium ingot, which is produced from bauxite, is over 3,000 per cent," the minister said.

Addressing the 2023 Ghana Mining Expo in Takoradi last Friday, Mr Jinapor said it was for the same reason that the government had since 2017 pursued a number of policies aimed at adding value to the country’s mineral resources.

He said through a public-private partnership, the government had established a gold refinery and was currently working to secure a London Bullion Market Association (LBMA) certification to enable Ghana to trade locally refined gold on the international market.

The government, he said, had also established the Ghana Integrated Aluminium Development Corporation  and the Ghana Integrated Iron and Steel Development Corporation to promote and develop integrated aluminium, iron and steel industries in the country.

The minister said with an estimated bauxite resource base of 900 million metric tonnes, developing an integrated aluminium industry was essential for the substantial growth of the national economy to enable the country to create the jobs needed for its citizens.

The government, he said, was working with all stakeholders to ensure that in the not-too-distant future, “we do not export bauxite and iron ore in their raw state”.

He said while there was the need to mine and add value, “we must remember that it is our collective duty to leverage sustainable mineral resource development for optimal socio-economic growth and development”.

The minister further disclosed that Cabinet was currently considering a policy proposal for the exploitation, management and utilisation of green minerals.

The goal, he said, was to ensure that, as much as possible, "we retain a significant proportion of the value chain of these future and other critical minerals in our country".

Diversification

The minister also called for the diversification of the mineral resource base to exploit other lesser known minerals, including the critical minerals required for the green energy transition.

The Ghana Geological Survey Authority, he pointed out, had conducted considerable geological investigations into such mineral resources, and that the global energy transition made investment in these minerals very viable.

Mr Jinapor said the theme for the event: "Sustainable Mineral Resources Development and Well-Being of Mining Communities" called for an examination of some of the most important issues in the mining industry such as responsible and sustainable mining, and leveraging that for sustainable development and the well-being of people, particularly those affected by mining operations.

"It brings to sharp focus issues of value addition, maximisation of value chain development, environmentally-responsible extraction, formalisation, best practices, upscaling of exploration and above all, optimising all stages of the mining value chain as an anchor for sustainable, inclusive and holistic national development," he said. 

Obligation

He said, government had an obligation to develop mining communities, but added that “all of us, particularly operators in the mining industry, have an obligation too, and if we shirk this responsibility, it will be at our peril”.

“We owe this duty not only to the current generation, but also to generations yet unborn.

We, at the Ministry of Lands and Natural Resources, remain absolutely committed to working with all stakeholders to deliver on this sacred duty,” he said.

The Western Regional Minister, Kwabena Okyere Darko-Mensah, said there was the need for a collective commitment to ensure that all mining activities did not compromise the well-being of host communities and the environment.  

“The 2023 Mining Week seeks the collaboration of all stakeholders to analyse the state of corporate social responsibility of mining companies in the country and their impact on the host communities,” he said.

Mr Darko-Mensah said with that, it would be easy to proffer best ways to regulate mining companies to commit to offering transformational social interventions as a means of creating generational prosperity for host mining communities.

The programme was attended by stakeholders in the mineral resources value chain, and featured an exhibition of products, as well as the new technology named Gold-Kacher that the government is introducing for the community mining programme.