In Ghana’s Oti Region, a landmark drilling phase for the country’s inaugural iron ore resource estimation has concluded, funded entirely by Republic Bank (Ghana) PLC.
The project, led by local firm Africa Exploration and Minerals Group Ltd (AEMG), unfolded at the Gyamurume Iron Ore Block and signals Ghana’s entry into the global iron and steel arena.
Republic Bank’s Managing Director, Dr. Benjamin Dzoboku, emphasized the bank’s commitment to transformative development: “While others stepped back, we stepped forward because we believe in Ghana and African enterprise.”
He noted the bank’s $19.5 billion asset base and 187-year legacy, positioning it as a catalyst for resource-driven growth. The project adhered strictly to local content standards, with 100% Ghanaian expertise a point hailed by geological consultants as a triumph for national self-reliance.
AEMG CEO Isaac Obeng Darko credited Republic Bank as the sole financier of this “historic moment,” revealing early signs of additional high-value mineral discoveries beyond iron ore. Samples now head to Intertek Minerals for analysis, with results expected swiftly.
Deputy CEO of Ghana’s state steel agency, Philip Oppong Amponsah, projected the Oti Region as a future iron ore hub, while local leaders anticipate job creation and infrastructure upgrades.
As the nation eyes industrialization, this venture underscores how strategic finance can unlock mineral potential. Republic Bank’s gamble may soon ripple across Africa’s mining landscape.