Accra: The Government has assured mining companies in the country of stable power supply to boost productivity and contribute to sustainable economic development. The provision of reliable and affordable power is expected to enhance the operations of mining firms and avoid interruptions to their operations due to the high dependency of their machinery on power.
According to Ghana News Agency, Mr. John Abudulai Jinapor, Minister of Energy and Green Transitions, gave the assurance at the opening of the 18th Edition of the West African Mining and Power Exposition Conference (WAMPEX) in Accra on Wednesday. More than 5,000 registered delegates and 220 exhibitors from 30 countries are participating in the three-day event on the theme: 'Driving sustainable investment opportunities in West Africa.'
Mr. Jinapor stated that the mining and energy sectors were the backbone of global development and that power fluctuations in those sectors could affect production, safety, and profitability. He noted that recent reports indicated stable power generation, with measures underway to ensure transmission efficiency.
In that regard, Mr. Jinapor announced that he had granted approval to the Electricity Company of Ghana (ECG) to inject 200 new transformers in major capital cities in the country to enhance transmission efficiency. He emphasized the urgency of this initiative, aiming to ensure effective and efficient power generation, transmission, and distribution.
Furthermore, Mr. Jinapor mentioned the commencement of drilling activities along Ghana's offshore basin as part of policy actions to provide regulatory certainty and predictability for investors in the power and petroleum sectors.
Mr. Emmanuel Armah Kofi Buah, the Minister for Lands and Natural Resources, highlighted the impact of global energy transition and climate action on traditional mining extraction models. He cited a $1.2 billion foreign direct investment in Ghana's mining sector last year as evidence of boosted investor confidence due to government policies.
Mr. Michael Edem Akafia, President of the Ghana Chamber of Mines, stressed the importance of sustainability in mining operations for the sector's long-term survival and viability. He called for the development of the supply value chain by strengthening capacity for effective local participation and expressed the Chamber's support for the Government's newly-created Gold Board.
