The Managing Director of Heath GoldFields Ltd has called for Ghana and Africa to move beyond the extraction of natural resources towards greater ownership, processing and control of the industries built around those resources.
Speaking at the celebration of the birthday of Ghana’s first President, Osagyefo Dr Kwame Nkrumah, the Managing Director said the next major question facing Africa nearly seven decades after independence is whether the continent can take control of its economic destiny.
He said while Nkrumah’s generation answered the question of whether Africans could govern themselves through Ghana’s independence, the current generation must confront the challenge of developing its own resources, building institutions, financing its ambitions and creating prosperity for its people.
“For those of us at Heath GoldFields, this question has a very practical meaning,” he said.
According to him, Ghana’s mineral wealth should not be measured only by the amount of gold extracted from the ground, but by what the country is able to create and retain above ground.
“The real measure must be what we leave above the ground,” he said.
He said this should be reflected in the development of Ghanaian engineers, geologists, metallurgists and technicians with world-class capabilities, as well as employment opportunities for young people and the growth of Ghanaian businesses participating in the mining value chain.
He added that the benefits of mining should extend to thriving mining communities and opportunities that remain after the last ounce of gold has been produced.
Ultimately, he said, Ghana and Africa must develop the capacity to build, own and manage globally competitive enterprises.
‘Economic independence will not come from slogans’
The Managing Director said Heath GoldFields sees its role as extending beyond gold production to demonstrating Ghanaian capability in the mining industry.
“Our responsibility is not simply to mine gold. Our responsibility is to demonstrate Ghanaian capability,” he said.
He said this involved demonstrating that a Ghanaian-led mining company could mobilise capital, deploy modern technology, develop world-class professionals, operate responsibly, protect the environment, work with communities and compete to international standards.
“Because economic independence will not come from slogans. It will be built through competence. It will be built through discipline. It will be built through enterprise. It will be built through technology and innovation. And above all, it will be built through confidence in ourselves,” he said.
Bogoso–Prestea redevelopment
The Managing Director also expressed appreciation to the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, for his support for the redevelopment of the Bogoso–Prestea gold mine.
He said the revival of the mine was more than the reopening of a mining operation, describing it as the restoration of livelihoods, rebuilding of communities and renewal of hope.
According to him, the operations currently provide employment to about 2,000 Ghanaian nationals.
He noted that the jobs also support families and dependants, while local contractors, suppliers, traders and communities depend on the economic activity associated with the mine.
He described the Minister’s support for the redevelopment of the Bogoso–Prestea mine as significant and expressed appreciation on behalf of the company’s board, management and workforce.
‘From extraction to processing’
The Managing Director said political independence was not intended to mark the end of Africa’s journey, but rather provided the opportunity and responsibility for Africans to determine their economic future.
He said one of the greatest tributes the current generation could pay to Nkrumah would therefore be to continue what he described as the unfinished work of African self-determination.
He said Heath GoldFields wants young Ghanaians who see its operations to understand that no industry, technology or enterprise is too complex or advanced for Africans to lead successfully.
“We must move from merely possessing resources to mastering the industries built around those resources,” he said.
He outlined the shift he believes is required as one “from extraction to processing; from employment to entrepreneurship; from participation to ownership; from dependency to capability.”
He described that transition as one of the major economic assignments of the current generation.
