Dr. Mahamadu Bawumia, the NPP Presidential Candidate has promised he would establish a minerals development bank to ensure growth in the sector.
The Vice President announced this when he addressed a gathering 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 stressed that the era of multinational 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…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.”
Dr Bawumia said the move aims to provide finances for mining projects in the country and expand the mining sector.
