President John Dramani Mahama has announced a new direction for Ghana’s mining industry, pledging his administration’s commitment to moving from extraction to transforming the sector through innovations and value addition.
Speaking during an event to mark the opening of the Ghana Mining in Motion in Accra on Monday, June 2, the president said his government will prioritize refining, processing and industrialization to ensure Ghanaians benefit fully from the country’s mineral wealth.
President Mahama noted that mining was a key driving force of the economy contributing, significantly to GDP growth and creating employment opportunities. However, it had yet to transform the lives of Ghanaians involved in the sector, he admitted.
“We export raw materials, raw minerals and we import finished goods but the real value which is jobs, technology and revenue is captured elsewhere. My administration is committed to moving beyond extraction to transformation and this means that we will be investing in the downstream industry of the mineral value chain,” President Mahama said.
To achieve this, the president said his government intend to implement measures towards “refining our gold and developing our jewel industry, processing our bauxite into aluminum, converting lithium into battery components for exports and using iron ore to feed industry”.
Ghana’s mining sector contributed a record GH₵17.7 billion in revenue to the government in 2024, marking a 51.2% increase from GH₵11.7 billion in 2023, according to the Ghana Chamber of Mines.
Dividends paid to the state soared by over 600%, reaching GH₵1.03 billion, highlighting the sector’s growing role as a cornerstone of domestic revenue generation.
The president, who offered a path forward observed that it would benefit if mining were included in mainstream conversations regarding key pillars of the economy.
Source: Ghana/Starrfm.com.gh/Mitchell Asare Amoamah
