Business News of Wednesday, 21 October 2026

Source: www.ghanaweb.com

Mining in Motion: African leaders push for more jobs and value from mineral wealth

MIM was held under the theme One Continent, One Policy: Aligning Africa’s Mineral Future play videoMIM was held under the theme One Continent, One Policy: Aligning Africa’s Mineral Future

Africa’s drive to turn its mineral wealth into jobs, stronger industries and improved living conditions took centre stage at the African Minerals Policy Forum, Mining in Motion 2026.

The summit focused on how countries can retain more value from their natural resources while attracting investment and protecting mining communities.

Held under the theme “One Continent, One Policy: Aligning Africa’s Mineral Future,” the gathering brought together political leaders, traditional authorities, policymakers, investors and industry players.

Discussions covered local mineral processing, mining reforms, environmental restoration and cooperation among African countries.

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A central concern was how Africa could leverage growing global demand for minerals to expand its manufacturing capacity. Speakers called for investment in reliable electricity, transport, technology and skills to help countries process minerals locally and create opportunities for domestic businesses.

President John Dramani Mahama announced a target to end Ghana’s export of raw mineral ores by 2030. He said the government would support the goal with legal measures and clear implementation timelines, alongside plans to modernise the Volta Aluminium Company (VALCO) and develop domestic alumina refining.

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, said Cabinet had approved a revised Minerals and Mining Policy and endorsed proposed amendments to the mining law for parliamentary consideration. He said the changes would strengthen local participation, protect communities and provide investors with clearer rules.

Liberia’s Vice President called for mining development to support the wider economy through investment in electricity, transport, agriculture, manufacturing and skills. He stressed that infrastructure developed for mining should also benefit households and local businesses.

African Union Commissioner Francisca Tatchouop Belobe said Ghana’s efforts to promote local participation and mineral processing offered lessons for other African countries. She also acknowledged President Mahama’s leadership on continental financial institutions and said the forum could help shape priorities ahead of Ghana’s anticipated 2027 AU chairmanship.

On gold trade reforms, President Mahama commended GoldBod for helping to increase recorded small-scale gold exports and foreign exchange earnings.

GoldBod Chief Executive Officer Sammy Gyamfi said stronger oversight was aimed at addressing trade leakages. He cited a SWISSAID analysis that identified an estimated US$11.4 billion gap between Ghana’s reported gold exports and trading partners’ import records from 2019 to 2023.

The summit’s partnership with Investing in African Mining Indaba seeks to connect these policy priorities with international investors and financing opportunities.

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Throughout the discussions, dignitaries urged African countries to pursue practical reforms and regional partnerships that translate mineral production into lasting economic and social benefits.

DR/MA

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