George Mireku Duker (In white)
The deputy minister of lands and natural resources responsible for mining, George Mireku Duker, has said the proposal by Dr Mahamudu Bawumia to establish a Minerals Development Bank will revolutionize small-scale mining financing in Africa
The flagbearer of the New Patriotic Party (NPP) has announced plans to establish a minerals development bank if he is elected president in the upcoming December polls.
Dr. Bawumia says the move is aimed at providing finances for mining projects in the country.
Speaking at the 3rd Annual Transformational Dialogue on Small Scale Mining in Ghana at the University of Energy and Natural Resources in the Bono Region, Dr. Bawumia said the practice of foreign mining companies exporting all their earnings will end when the policy is implemented.
“We also want to, as I said, in collaboration with the relevant state institutions like MIIF, PMMC, the Bank of Ghana, the private sector and others, we want to establish a minerals development bank to finance viable local mineral projects and to mitigate foreign financing of local mining projects, which leads to heavy smuggling of the produce afterwards.”
Speaking in an interview on Adom Fm on Tuesday (16 July), Duker said the initiative could help raise local champions in the mining sector and also help retain profits from such ventures in the country.
Watch the full interview in the attached video clip below:
