The Vice President and 2024 flagbearer of the NPP, Dr Mahamudu Bawumia, says Ghana must adopt a new approach in negotiating natural resource contracts to ensure that the country fully benefits from its natural resources.
Dr Bawumia said that it is crucial for the nation to focus on value addition and Ghanaian ownership to maximize the benefits from resources such as gold, lithium, and bauxite.
He made these remarks in Accra on Wednesday, February 7, 2024, while unveiling his vision and priorities for Ghana.
In his address, Dr Bawumia outlined several measures that his government would implement to ensure that Ghana maximizes its benefits from natural resources.
These measures include formalizing, regularizing, and regulating environmentally sustainable small-scale mining. Dr Bawumia also highlighted the importance of capacity building and financial assistance to help grow small-scale mining companies into large-scale companies.
Dr Bawumia stressed that his government will support the Minerals Commission and key stakeholders to formalize the Artisanal and Small-Scale Gold Mining sector.
This is to ensure that responsible mining activities are carried out sustainably and responsibly. He also mentioned plans to license all miners involved in responsible mining and to establish District Mining Committees to provide initial temporary licenses to miners.
Dr Bawumia emphasized the importance of responsible mining practices and the need for a paradigm shift in natural resource contracts to ensure that Ghana reaps the full benefits of its natural resources.
