BusinessInvestmentPolitics

Time for new dialogue and cooperation in mining – Addo-Kufuor Jr

1 Mins read

Mr. Kwame Addo-Kufuor Jr, President of the ECOWAS Federation of Chambers of Mines (EFEDCOM), has called for new approaches and stakeholder dialogues to create enabling environments to attract foreign and local investment into sustainable and responsible mining.

He said the time has come to think differently on how to position local companies to actively participate in mining value chains by manufacturing and selling more to the industry which will benefit other sectors of the local economy.

Mr Addo-Kufuor Jr., who was speaking at the maiden Annual General Meeting of EFEDCOM held virtually, said the COVID-19 pandemic provided a timely opportunity for governments to do deep internal introspections of their domestic economies to identify areas of competitive advantage.

“It is a well-known fact that West Africa has huge mining potential, much of which is untapped. Now is the time for new approaches and stakeholder dialogues on how to create enabling environments to attract foreign and local investment into sustainable and responsible mining,” he said.

Mr Addo-Kufuor Jr. expressed the disappointment that most mining operators seeking to meet and exceed current legislation on local sourcing of inputs of production are unable to find manufacturers of inputs who could supply commercial quantities at the acceptable standards of quality.

He, therefore, called on stakeholders to work together with the mining industry, as well as entrepreneurs in manufacturing, fabrication and services provision, to provide the right incentives to help develop competent local producers of critical mining inputs.

“Mining operators will proudly buy from reliable local sources not only in compliance with local content laws but beyond that as part of our corporate social responsibility to support the creation of jobs, reduction of poverty- and taking the benefits of mining beyond tax and royalty payments into the realm of multiplier impacts on the wider economy,” he said.

Related posts
BusinessCovid-19News

Court dismisses embattled FDA lawyer’s application against Manasseh Azure

1 Mins read
n Accra High Court, General Jurisdiction 5, this morning threw out an application by lawyers for the embattled FDA lawyer against Manasseh…
BusinessEntrepreneurs

France to Support AfCFTA

1 Mins read
French Ambassador to Ghana, Anne Sophie Ave, has said the African Continental Free Trade Area (AfCFTA), which came into full force on…
Investmentlocal

CHY Century Heng Yue Group Case Goes To EOCO

1 Mins read
Deputy Director General, Legal, of the Securities and Exchange Commission (SEC), Deborah Mawuse Agyemfrah, has indicated that the case involving CHY Century…

Leave a Reply

Your email address will not be published. Required fields are marked *