Flagbearer of the ruling New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has unveiled plans to establish a Mineral Development Bank aimed at supporting small businesses in Ghana’s extractive sectors.
This initiative, announced during the 3rd Annual Transformational Dialogue on Small-Scale Mining in Ghana, held at Shila’s Executive Hotel in Fiapre near Sunyani, underscores the government’s commitment to promoting responsible mining practices and curbing illegal mining activities.
Dr. Bawumia emphasized that the Mineral Development Bank will provide financial and technological assistance to small and medium-scale businesses in the extractive sector, making their operations more viable.
The establishment of this bank aims to offer an alternative to illegal mining by providing accessible support and resources to those engaged in small-scale mining activities.
The Vice President further elaborated on the objectives of the initiative. He stated that the program will promote responsible mining by providing training to small-scale miners on sustainable mining practices, ensuring the protection of water bodies and forests.
Additionally, the program will collaborate with mining schools to leverage the expertise of mining engineers and ensure that mining operations are carried out with the appropriate expertise.
Furthermore, Dr. Bawumia announced the plan to establish a plant pool with mining equipment to help the sector maximize its yield, as most miners currently rely on manual methods and lack access to the necessary tools and machines.
The Vice President also mentioned that the Precious Minerals Marketing Company (PMMC) will be resourced to establish more buying centers in mining communities, allowing miners to access the market easily and at fair prices.
The Vice President expressed his confidence that this comprehensive approach, which has proven successful in other countries, will also work for Ghana in addressing the issue of illegal mining
