By Buertey Francis BORYOR
The Chief Executive Officer of the Ghana Chamber of Mines, Kenneth Ashigbey, has said the launch of new Grinding Media Standards could unlock about US$92million in opportunities for local manufacturers and drive industrial growth in the mining sector.
He said the standards would help improve the quality of locally manufactured grinding media, reduce mining companies’ operational costs, create jobs and position the country as a hub for mining support services in West Africa.
“This is not merely the unveiling of a technical document; it is a bold step in advancing a national agenda, one that seeks to harness mining as a transformative force for Ghana’s economic development,” he said at the launch of the Grinding Media Standards in Accra.
Mr. Ashigbey said the initiative was the result of years of engagement by the chamber and its partners to address the limited availability of quality, locally manufactured grinding media.
He noted that procurement of grinding media had risen from about US$33million in 2014 to over US$126million in 2022 and reached US$131million by December 2023; yet, only about US$20million was sourced locally.
“That leaves a local manufacturers’ opportunity of approximately US$92million,” he said.
Mr. Ashigbey explained that grinding media is a critical input in mineral processing and directly affects productivity, recovery rates, operational efficiency and profitability.
He warned that the absence of clear quality standards could lead to increased plant downtime, reduced recovery rates and higher operational costs for mining companies.
According to him, the availability of high-quality and standardised grinding media would strengthen confidence in locally manufactured products and improve reliability across mining operations.
He said the standards are also part of a broader effort to make mining a driver of industrialisation and national development.
He urged the country to adopt a more strategic approach to local content by focusing on the origin of manufacture rather than only the citizenship of suppliers.
He said local content policies should build productive capacity, create jobs and develop industrial skills instead of simply increasing costs in the sector.
Mr. Ashigbey noted that domestic procurement of goods and services accounted for 37.98 percent of mining companies’ revenue in 2024 and rises to 46.4 percent when fuel and electricity are included.
He added that fiscal contributions such as taxes and royalties account for about 18.71 percent.
“This clearly demonstrates that the greatest opportunity for national value capture lies in local procurement,” he said.
The chamber CEO moveover said the standards would open doors for the country’s manufacturers to export across the continent under the African Continental Free Trade Area; and further noted that this would position it not only as a mining nation but also as a manufacturing hub within Africa’s mining ecosystem.
The standards were launched in collaboration between the Ghana Chamber of Mines and the Ghana Standards Authority.
He commended the Ghana Standards Authority for leading the standards development process, acknowledging support from the University of Mines and Technology, the Minerals Commission, manufacturers and other industry players.
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