Dr. Mahamadu Bawumia, the president candidate of the New Patriotic Party (NPP), has unveiled intentions to institute a minerals development bank should he secure the presidency in the imminent December elections.
Dr. Bawumia asserts that this initiative aims to furnish financial support for mining ventures within the nation.
Addressing attendees at the 3rd Annual Transformative Discourse on Small Scale Mining in Ghana, held at the University of Energy and Natural Resources in the Bono Region, Dr. Bawumia emphasized that the prevalent practice of foreign mining corporations repatriating all profits will cease once this policy takes effect.
“We also aspire, in collaboration with pertinent state bodies such as MIIF, PMMC, the Bank of Ghana, the private sector, and others, to establish a minerals development bank. This bank would fund feasible local mineral endeavors and curtail the reliance on foreign funding for domestic mining projects, which often results in rampant smuggling thereafter.”
