Ghana To Become Mines Support Services Hub

Mr. Sulemanu Koney

THE GHANA Chamber of Mines is conducting a research to help position the country as the hub for mines support services.

 

The Chamber is also providing funds for research, as a complement to a similar one being done by the University of Mines and Technology, in Tarkwa.

 

Interacting with journalists in Takoradi recently, Sulemanu Koney, Chief Executive Officer (CEO) of the Ghana Chamber of Mines, disclosed that the research would scrutinize local entrepreneurs who would want to take advantage of such opportunities and incentives in the sector.

 

He observed how the developmental impact of the mining industry, in most cases, tended to be assessed from its headline contributions, to its fiscal purse, employment and local infrastructure, adding that the Chamber’s foremost priority, was to support local manufacturers to enable them capture the commanding heights of the input-market.

 

He said that for instance, in 2019, the 13 mineral-producing members of the Chamber spent $3.1 billion on goods and services, incidental to the production of minerals, and that if expenditures had been captured by firms domiciled in Ghana, the total amount of $3.1 billion, would have remained in the country as revenue for third-party suppliers.

 

“It is instructive to note that  the mining industry’s expenditure on inputs was four times greater than its fiscal contributions in 2019”, he revealed, adding that generally, there were three classes of suppliers in the mining industry comprising local manufacturers, retailers and foreign vendors.

 

He explained that the retail class of suppliers comprised firms that imported and resold goods and services to mining companies, namely, SECOROC, Rikair and Servaco PPS.

He said that the foreign suppliers typically provided specialized inputs that were not available in Ghana, such as spares from original equipment manufacturers (OEM) to the mining companies.

 

He noted that the Western region presented vast opportunities, and exhorted residents and entrepreneurs, to take advantage of responsible mining practices, to ensure that the country obtained maximum value from its resources.

 

He also suggested the creation of industrial parks, for firms that provided mining support services in the region, particularly in the Tarkwa area, which hosted most of the big mining companies in the region.

 

From Emmanuel Opoku, Takoradi