The 2028 flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia has discussed plans to establish a Minerals Development Bank which will be dedicated to supporting Ghana’s small-scale mining sector with accessible financing for responsible operations.
Speaking at an engagement with the Ghana National Association of Small-scale Miners in Accra, Dr Bawumia stressed that any intervention in the sector must protect the interests of artisanal and small-scale operators.
“I wanted to make sure that in pursuing this programme, we did it without disadvantage to the small-scale miners,” he said.
The proposed bank, he explained, would provide targeted funds to help miners acquire modern, responsible mining equipment.
“This bank will be for small-scale miners to help them access funds for responsible mining equipment. With the right tools, our miners can work efficiently and safely, building wealth for themselves and their communities without compromising the environment,” he said.
Dr Bawumia linked the initiative to a wider goal of reducing reliance on foreign financing of local mining projects, which he said often results in heavy smuggling of mineral produce.
“We want to establish a Minerals Development Bank to finance viable local mineral projects and to mitigate foreign financing of local mining projects, which leads to heavy smuggling of the produce afterwards,” he stated.
The bank will form part of a broader package of reforms aimed at improving governance and efficiency in the mining sector.
These include decentralising the Minerals Commission and the Environmental Protection Agency (EPA) to all mining districts, establishing District Mining Committees that include traditional leaders with the authority to issue temporary licences, and increasing the involvement of the Geological Survey Department in mapping gold deposits.
Source: Starrfm.com.gh
