“Ghana’s Mineral Resources: A Catalyst for Industrialization and Progress” – Lands Minister

Ghana is on the cusp of a revolution in the mining industry, driven by innovation and a commitment to adding value to its critical minerals. The government has put in place policies and frameworks to incentivize investment in value-added activities, and institutions like the University of Mines and Technology are promoting research and development to drive innovation.

The story begins with the discovery of lithium in commercial quantities, which led to the development of a special policy for the exploitation and management of green minerals. This policy ensures that Ghana retains as much of the value chain as possible, with a focus on local participation, listing on the Ghana Stock Exchange, and value addition and beneficiation.

The government has signed a mining lease for lithium that incorporates these provisions, including a 10% royalty rate and a requirement to establish a chemical plant for refining. This sets the stage for Ghana to become a major player in the global lithium industry, with the potential to benefit from the growing demand for electric vehicles and renewable energy.

But Ghana’s ambitions go beyond lithium. The government is expanding its policy to cover other green minerals, including bauxite and manganese. A new mining lease for bauxite provides for an 8% royalty rate and mandatory provisions for the establishment of a refinery solution. A legislative instrument is also being laid before Parliament to restrict the export of bauxite in its raw state.

The story is one of collaboration and innovation, with government, industry players, universities, and research institutions working together to drive investment in smelting, refining, and manufacturing. It’s a story of Ghana’s preparedness to unlock the full potential of its mineral wealth, ensuring prosperity for all Ghanaians.

As the Minister for Lands and Natural Resources, Hon. Samuel A. Jinapor declared at the 8th UMaT Biennial International Mining and Mineral Conference, “Ghana is indeed prepared for value addition to our critical minerals, and this preparedness rests on collaboration, innovation, and sustainable practices.”