UK exploring ways to invest in Ghana’s extractive sector

By
Godwill Arthur-Mensah, GNA

Accra, Sept. 20, GNA – The United Kingdom (UK)
is exploring various investment opportunities in the mining sector, especially
in value addition to mineral resources and the reclamation of degraded mined
areas in the country.

The move would enable the UK to strike
partnerships with the Government and the Business Community, which would create
jobs and engender economic growth.

Mr Adam Afriyie, the UK Prime Minister’s Trade
Envoy to Ghana and Guinea, announced this when he paid a courtesy call on Mr
Kwaku Asoma Cheremeh, the Minister of Lands and Natural Resources, in Accra on
Thursday.

Mr Afriyie stated that Ghana had rich natural
resources and the UK was uniquely positioned to support it to utilise them
through investments and technological transfer to propel the country’s
industrial transformation, which would inure to the benefit of Ghanaians.

The UK Trade Envoy emphasised: “If you work
with the United Kingdom and UK-based businesses, your interest will be at the
top of our agenda.

“We’re, particularly, focused on the
environmental and social values of the projects we deliver, and we do mine
that, we’re an international country, and can work in international consortium
and have the best interest to trading with Ghana,” he added.

Mr Iain Walker, the British High Commissioner
to Ghana, on his part, said the UK had spent about two billion pounds on health
and education related initiatives in Ghana and would now like to move towards
investments that would engender economic growth and the creation of jobs.

He said the UK shared common ambitions and
values with Ghana; therefore, she would support the nation in areas of
technology transfer and sharing of expertise to accelerate economic growth,

Mr Benjamin Aryee, a Minerals Advisor to the
Lands and Natural Resource Ministry; and Mr James Dadson, a Technical Director
of Lands at the Ministry, took turns to explain the various areas available for
exploration for investments.

They said it was the Government’s ambition to
add value to the bauxite ore, refine 30 per cent of gold ore locally, reclaim
mined out areas, provide alternative livelihood programme for artisanal
small-scale miners and automate land records.

It also wanted to continue with the land
reforms that was started a decade ago to enhance land title registration and
improve transparency.

Mr Dadson, for instance, cited the
Government’s plans to develop the marine drive in Accra into a tourism enclave
for hotels and places for leisure, and said the laudable project would require
investments to make it a reality.

The Minister of Lands, for his part,
emphasised the Government’s vision and commitment to embrace Foreign Direct
Investments through partnerships with the local businesses.

Mr Cheremeh said the ban on illegal
small-scale mining was done to ensure sanity in the mining industry and, thus,
encouraged potential investors in the sector to come on board, saying that, the
Government had instituted measures to vet licensed small-scale miners and
regularise their activities.

GNA

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