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Business News of Friday, 21 December 2018

Source: citinewsroom.com

Ghanaians partner Chinese-Taiwanese firm to invest heavily in mining sector

A Chinese and Taiwanese investment platform together with Ghanaian partners, known as the Taichiga Corporation, has announced a 2 billion dollar investment in Ghana’s mining sector.

TAICHIGA, which will rely on an innovative 2km deep mining technology, has also fully acquired the Bibiani Gold Mine in the Western Region.

It also has plans to acquire 10 other mines across the country.

The group is also to set up a mining equipment plant in the country which they believe feeds into the government’s One District One Factory agenda.

Speaking to the Media on Monday, December 17 2018, the Director of Operations of Taichiga Corporation, Samuel Suleman, said their platform will bring together all foreign nationals especially Chinese and Taiwanese to practice environmentally friendly mining.

“Our coming has coincided with the lifting of the ban on small scale mining. It is not just a common coincidence. The three prong purpose of Taichiga Corporation, first of all apart from the investment initiative that they are bringing to Ghana’s economy, they are all also investors into the mining sector and have mobilised over 20 wealthy investors who are ready and willing with the support of the Chinese government to move to Africa to invest especially Ghana. They have decided to choose Ghana as their prepared destination for investment”.

Mr. Suleman added that, “to show their seriousness, they have already invested a Hundred million-dollars in purchasing the Bibiani Mines. They want to transform the mining sector of this country. If you recall, the Bibiani Mine in those days was a very rich mine, but the technology they used at the time was very different from the ones used now. Our Director Mr. Yu Siuwai has 20 years of mining experience with 2km deep mining technology. This is the kind of technology we are bringing to Ghana. We have started by purchasing the Bibiani Mines”.

TAICHIGA also has plans to invest in ten other mines in the South and Northern parts of the country.



“Our Chairman, Sun Shaozhang owns about six companies in China. He also has a machinery company called Y-Zing. Y-Zing manufacturers the mining equipment that can go deep. Y-ZING manufactures equipment and machinery for small scale industries and for that matter their intention to support the economy of Ghana is to manufacture some of the machinery that we need for our small scale industries especially the One District One Factory that the government has rolled out. We have had discussion with government agencies”.

Touching on the experiences that Ghana can learn from China, Mr. Suleman said “China used to be a poor country, but over forty years they have transformed to one of the economic powers of the world. They want to bring those techniques to help Ghana in its transformation agenda.”

“TAICHIGA also seeks to change the misconception that most Ghanaians have about Chinese investors.



The Ghanaian view about China is that anytime they see the Chinese engage in the mining sector, it is nothing but illegal mining, popularly known as ‘galamsey’. They want to change this perception because they are real investors who are into proper mining not Galamsey. Taichiga is a platform that will bring together investors from all over China. They will also identify Ghanaian businesses that need capital to start up” he added.