Ghana’s Mining Sector Growth Bolstered Through Local Content Participation

Ghana is enhancing local content participation in its mining sector to boost economic growth. Initiatives include supporting small-scale miners, promoting local procurement, and ensuring international firms hire locally. The Mining in Motion Summit scheduled for June 2025 will discuss local entities’ role in industry expansion. Current policies have led to over one million jobs in small-scale mining, with the sector generating significant export revenue. Additional reforms aim to empower local miners and facilitate gold commercialization.

Ghana is intensifying its efforts to enhance local content participation in the mining sector, focusing on maximizing the benefits derived from its mineral resources. The government aims to support small-scale miners, encourage local procurement, and ensure that international companies hire and train local workers. These measures are designed to stimulate employment, generate revenue for local enterprises, and drive GDP growth through an expanding mining industry.

The upcoming Mining in Motion Summit, scheduled for June 2-4, 2025, in Accra, aims to spotlight the role of local mining entities in industry growth. It will emphasize collaboration between the government and international partners, illustrating how increased local participation can accelerate economic development.

Ghana’s commitment to local involvement is evident, as the small-scale gold mining sector employs approximately one million individuals, indirectly supporting an additional 4.5 million. This sector generated over USD 5 billion in export revenue in 2024 alone, showcasing its significant economic impact.

To further empower local stakeholders, the Ghanaian government has introduced various key policy reforms, along with financing and skills training initiatives. A notable development is the announcement of the Gold Board, set to launch in March 2025, which will unify gold output from both small-scale and industrial mining projects for international export, facilitating funding through certificates of gold sales.

In August 2024, Ghana revealed plans for a Cooperative Mining Policy aimed at establishing community mining cooperatives. This initiative seeks to provide training, register miners, and issue concessions, thereby promoting job creation and formalizing the mining sector.

In summary, Ghana’s mining sector is witnessing significant growth through increased local content participation. With the government’s supportive policies and initiatives, including the establishment of the Gold Board and the Cooperative Mining Policy, local miners are better positioned to contribute to economic development. The Mining in Motion Summit will further catalyze dialogue on enhancing local involvement, demonstrating Ghana’s commitment to optimizing its mineral resources for national benefit.

Original Source: africanminingmarket.com