Negative propaganda on mining could affect investor confidence - Anaman

Accra, June 12, GNA - Mr. James Kwamena Anaman, a corporate affairs consultant, on Monday condemned the negative propaganda being sent out by some commentators on the mining industry, saying it was sending dangerous signals to the global investor community.

Speaking to a cross-section of journalists in Accra, Mr Anaman said some of these concerns by the commentators were either not borne out by the facts or were just plain mischief to discredit the hard-won achievements of the Ghana Chamber of Mines and the industry in general. Mining companies have faced accusations, mostly from non-governmental organisations, that their activities degrade the environment and destroy community livelihoods.

"It is my humble opinion that any assault on the industry which does not review the meaningful innovations may in the process remain warped and unimpressive in the very least," he said. Mr. Anaman, who is also a past President of the Chamber of Mines, said it was important that well-meaning stakeholders endeavoured to assist like-minded collaborators to correct the already negative perceptions that investors had about the African continent. Admitting that there were challenges in the industry, he said, efforts should rather be channelled to engage in open-minded dialogue to resolve any problems that currently were being faced by the industry. He said the government about three decades ago adopted the local mining industry as a beacon to attract investment into other areas of the national economy, which was floundering for want of fresh capital and investor guarantees.

"The welcoming signals sent out by government had led to a stream of investments in various areas of the national economy." Mr Anaman said the Chamber and its members had over the years adopted a new posture to consolidate the significance of the industry in the economy and society by adhering to good community relations and environmental practices.

He cited the 80 MW power plan funded by four chamber members at the cost of $50 million, the creation of the Gold Fields Ghana Foundation, the payment of three per cent royalty, the investment into the railway sector and the setting up of various community funds to engender development in the mining communities as contributions by the companies. Besides the companies are also paying high attention to responsible management of the environment.

The Chamber's aim is to foster an effective regulatory climate that encourages minerals industry development alongside high standards of environmental performance. A cross-section of members of the Chamber present at the meeting expressed their readiness to work with the NGOs to address any concerns they might have.

They will also want to encourage community participation in the monitoring and evaluation of the environment. On the activities of illegal miners, he said, the onus lay on government to find appropriate response to the menace. The Chamber recently marked its 80th anniversary on the theme: "Life Without Mining is Impossible," to highlight the contribution of the sector to the country's economic growth and development. Activities held as part of the anniversary included medical outreach programmes, tree planting exercise and football gala. A golf competition, photo exhibition and public lectures will also be undertaken in the course of the year. 12 June 08