Chamber of Mines urges formalization of mining industry

Mr. Sulemanu Koney, Acting Chief Executive Officer (CEO) of the Ghana Chamber of Mines, has asked government to strengthen efforts at formalizing the small-scale mining industry, to leverage its enormous potential as a catalyst for economic growth and development.

He said the industry’s diversified grounds for alternative businesses should be harnessed to help sustain the industry, and minimize the negative operational impact on the environment after the exit of mining companies.

The acting CEO, who was handing over a research finding commissioned by his outfit on “Sustaining the Mining Industry” to the Ashanti Regional Minister, Mr. Samuel Sarpong, in Kumasi on Tuesday, said this was the path to travel, to also rein in illegal mining in order to prevent it from destroying the environment.

“The fact that gold ore is a finite commodity should not be lost on anybody, and looking at ways to keep mining communities economically- viable after these areas have been exhaustively mined, is critical,” he said.

Mr Sulemanu pointed out that formalization will facilitate operational permitting and monitoring, to ensure that small-scale miners work within only authorized concessions.

“It would also infuse sanity into the industry by bringing all small-scale miners under one umbrella, for the dual benefit of presenting an organized front to source for funds needed for the capital intensive business, while also simplifying revenue mobilization for government.”

Added to this, the Report is also pushing for the establishment of a plant pool to provide the right equipment to the miners, so as not to destroy the environment, he said, adding that monitoring and supervision from government should guide their operations to ensure sanity.

Mr Sarpong lauded the CEO for the incisive recommendation proposed by the Chamber of Mines in the Report, and said its implementation will help in the radical transformation of the extractive industry to revamp the country’s economy.

He said most companies register as small-scale miners, and are given permits to operate as such, but flout this to use heavy equipment which should only be used by large-scale mining companies.