The Finance Minister, Dr Cassiel Ato Forson has announced aggressive timelines to halt the export of raw minerals and boost local processing.
Presenting the 2027 Budget Statement in Parliament, Finance Minister Cassiel Ato Forson detailed a comprehensive roadmap aimed at retaining mineral wealth within the country.
According to him, at least 70% of Ghana’s artisanal and small-scale (ASM) gold will be refined locally by the end of next year under the new fiscal framework,
“The government aims to achieve 100% local refining capacity by December 2028, at which point all exports of raw ASM gold will be prohibited,” he said.
The policy, he said, extends to industrial minerals as well where at least 50% of Ghana’s manganese and bauxite will undergo domestic processing by the end of 2028, culminating in a total ban on raw manganese and bauxite exports by 2030.
“The state plans to leverage bauxite production to support a domestic alumina refinery and aluminum smelting industry. Furthermore, lithium development will commence with local refining, progressing step-by-step into battery-grade chemicals, components, and cells,” he said.
“To support these industrial targets, the government is establishing a 24-hour critical mineral processing enclave in the Western Region, backed by Pillar 3 power infrastructure. Beginning in 2027, state resources will fund the construction of a strategic railway line running from Takoradi to Yenyinyi in the Ashanti Region, passing through key mineral hubs such as Insuta and Awaso. The rail network will transport manganese and bauxite directly to the western processing enclave for value addition.
“To strengthen regional trade, the Port of Takoradi is slated for development as Ghana’s principal maritime gateway to the Sahel. By 2030, the railway will extend northbound from Nyinahini to Hamile in the Upper West Region, complemented by a modern inland port designed to serve landlocked neighbors including Burkina Faso, Mali, Niger, and the wider Sahel region. This railway must power Ghanaian industries, support local processing, and create jobs for our people,” Dr. Forson told Parliament, emphasizing that the overarching goal is to shift the nation’s minerals toward greater value and its citizens toward greater prosperity,” he said.
Source: Starrfm.com.gh
