Ghana's democracy, strong legal framework conducive for investment – Mireku Duker to Peru investors

The Deputy Minister for Lands and Natural Resources, Hon. George Mireku Duker has outlined the effective legal and regulatory framework as well as the country’s thriving peace and democracy as factors that guarantees success for investment in the country’s viable artisanal small-scale mining sector.

According to the Deputy Minister, the determination of the government to sanitize the small-scale mining industry and eliminate the excesses that incur losses for industry players should be enough to stimulate the interest of investors in the sector.

Addressing a five-member delegation from Ansong Askew Company Limited, a mining company based in Peru, at the Ministry on Wednesday, 23 August 2023, Hon. Duker outlined that Ghana’s mining regulatory regime is second to none on the continent.

He disclosed that the government views the small-scale mining sector as a platform to create local giants in the mining industry and that any investment that guarantees benefits for the locals without harming the environment is welcomed.

“Ghana has a well-regulated industry as well as the ASM is concerned. We have a legal framework. Democratically, we all know Ghana is one of the most stable countries in Sub-Saharan Africa and choosing Ghana as the place for your entry to Africa is the right choice”, he said.

Mr James Askew, the Chief Executive Officer of Ansong Askew Company Limited outlined the processing capacity of his outfit, indicating that they are the biggest gold exporters in Peru.

He disclosed that the company has the capacity to transform the Ghanaian small-scale mining as it operates in a transparent manner and ensure traceability of the minerals they purchase.

He added that his company raised over $200m from exportations last year with 97% of the proceeds staying in the country and being used to grow the sector.

According to him, local miners stand a chance of tripling their investment if they decided to transact business with his outfit.

Mr. James Askew indicated awareness of Ghana’s ban on the use of mercury for mining, detailing that his company will not conduct their activities in a way that will have no negative ramifications on Ghana’s environment.

After learning of the company’s capacity and commitment to the protection of local interest, Hon. Mireku Duker expressed delight, indicating that it aligns with the government’s policy and plan for the sector.

He further disclosed that the promise that over 95% of generated revenue will circulate in the Ghanaian mining economy is in accordance with Act 703 which dictates that the small-scale mining sector should be the preserve of Ghanaians.

He assured the delegation that the ministry will take measures to facilitate their smooth establishment in Ghana.

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