{"id":149582,"date":"2024-02-09T13:55:54","date_gmt":"2024-02-09T13:55:54","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/02\/09\/new-natural-resource-management-contracts-needed-bawumia\/"},"modified":"2024-02-09T13:55:54","modified_gmt":"2024-02-09T13:55:54","slug":"new-natural-resource-management-contracts-needed-bawumia","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/02\/09\/new-natural-resource-management-contracts-needed-bawumia\/","title":{"rendered":"New Natural Resource Management Contracts Needed &#8211; Bawumia"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Dr. Mahamudu Bawumia<\/strong><\/p>\n<p>The Vice President and Flagbearer of the NPP, Dr. Mahamudu Bawumia, has said the country needs a new paradigm in natural resource contracts to ensure the nation maximises benefits of its natural resources.<br \/>Successive governments have often come under criticism for the type of agreements entered into with external interests for the exploitation Ghana\u2019s natural resources.<br \/>Speaking to the nation in Accra on Wednesday February 7, 2024, to unveil his vision and priorities for Ghana, Dr. Bawumia outlined a number of measures, including value addition and Ghanaian ownership, describing them as key.<br \/>\u201cAs President, I will usher Ghana in a Golden age for the maximization of the benefits from our natural resources like gold, lithium, bauxite, and so on,\u201d he said.<br \/>\u201cThe key to doing this is value addition and Ghanaian ownership. We need a new paradigm in natural resource contracts.\u201d<br \/>Dr. Bawumia said some of the key policies his government will implement to maximize the country\u2019s benefits from its natural resources will include measures to \u201cformalize, regularize and regulate environmentally sustainable small scale mining.\u201d<br \/>\u201cAbout one million people are engaged in small scale mining. Our goal would be to help grow small scale mining companies into large scale companies with capacity building and assisting them to access financing to acquire equipment. We can create many millionaires in the small scale mining industry if we support them,\u201d he said.<br \/>\u201cMy government will support the Minerals Commission and key stakeholders to formalize the Artisanal and Small-Scale Gold Mining (ASGM) sector with the objective of ensuring that the activities of the entire value chain are sustainably and responsibly done so that most of the gold produced by this sector can be sold to the Bank of Ghana (BoG) and be eligible to be part of the gold reserves of the Central Bank.\u201d<br \/>Dr. Bawumia added that in line with this, his government, \u201cwill license all miners doing responsible mining. District Mining Committees, including chiefs, will provide initial temporary licenses to miners.\u201d<br \/>\u201cAs long as miners mine within the limits of their licenses, for example no mining in river or water bodies, there will no longer be any seizure or burning of excavators.\u201d<\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Mahamudu Bawumia The Vice President and Flagbearer of the NPP, Dr. Mahamudu Bawumia, has said the country needs a new paradigm in natural resource contracts to ensure the nation maximises benefits of its natural resources.Successive governments have often come under criticism for the type of agreements entered into with external interests for the exploitation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":148993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-149582","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Natural Resource Management Contracts Needed - Bawumia - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/02\/09\/new-natural-resource-management-contracts-needed-bawumia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Natural Resource Management Contracts Needed - Bawumia - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dr. Mahamudu Bawumia The Vice President and Flagbearer of the NPP, Dr. Mahamudu Bawumia, has said the country needs a new paradigm in natural resource contracts to ensure the nation maximises benefits of its natural resources.Successive governments have often come under criticism for the type of agreements entered into with external interests for the exploitation [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/02\/09\/new-natural-resource-management-contracts-needed-bawumia\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T13:55:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/02\/Bawumi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/02\\\/09\\\/new-natural-resource-management-contracts-needed-bawumia\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/02\\\/09\\\/new-natural-resource-management-contracts-needed-bawumia\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"New Natural Resource Management Contracts Needed &#8211; 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