Ghana Chamber of Mines Engages Journalists in Takoradi, Emphasizes Local Manufacturing for Export Growth

Takoradi: Dr Kenneth Ashigbey, the Chief Executive Officer of the Ghana Chamber of Mines, has emphasized the need to leverage local content by providing incentives for people to start manufacturing in-country to boost exports in the services sector. Dr Ashigbey made these remarks when the new leadership of the Chamber met with journalists in Takoradi in the Western Region. He highlighted that mining should be about sustainable development and not just rent, urging a focus on harnessing the full benefits beyond direct fiscal contributions.According to Ghana News Agency, Dr Ashigbey tasked the media to optimize the inherent value of the mining sector for Ghanaians and act as a catalyst for enhancing local content as well as championing Ghana's sustainable development, especially in local communities. This comes as the Chamber prepares to celebrate a century of mining in Ghana. He described 2024 as a promising year, noting that Ghana's mining industry had witnessed stability and aimed to sustain these gains.Dr Ashigbey reported a broad-based increase in the production of traditional minerals in 2024, with Ghana retaining its position as Africa's leading gold producer and the sixth largest globally. Ghana accounted for 2.8 percent of global gold output in 2024, an improvement from the 2.6 percent recorded in 2023. The Chamber achieved a record high target of 4.8 million ounces in 2024, up from 4.0 million ounces in 2023.He noted the Chamber's vision to be a respected, effective, and unifying voice for the mining industry in Ghana, acknowledging the efforts of predecessors in achieving this goal. The Chamber plans to invest more in exploration, with signs indicating that gold reserves in Ghana could last for the next 900 years. Currently, three firms are undertaking reconnaissance and prospecting activities, with one firm involved for nearly a decade.Dr Ashigbey also addressed the need for a conversation on taxation in the mining sector and the importance of exposing illegal mining activities to safeguard comm unity health and the local economy. Manganese production rose from three million tonnes in 2023 to five million tonnes in 2024, while diamond production improved from 0.202 million carats in 2022 to 0.332 million carats in 2024. Bauxite production increased by 76.5 percent from 0.959 million tonnes to 1.694 million tonnes over the same period.The CEO highlighted the Chamber's significant contribution to revenue, with producing members spending $5.5 billion on local procurement in 2024, translating into 73.7 percent of their mineral revenue. This spending supports local industrial growth, skill development, and employment.