The Ghanaian government has announced plans to establish a $450mn refinery aimed at refining locally produced manganese, according to Joy News.
This initiative was unveiled alongside a legislative move to ban the export of raw bauxite, signaling a shift towards value addition within the country's mining sector.
President Nana Akufo-Addo told Parliament that these measures are aimed at fostering economic growth and ensuring optimal utiliation of Ghana's mineral resources.
Acknowledging achievements in the mining sector, Akufo-Addo celebrated Ghana's reclamation of its position as Africa's leading gold producer, citing policies that have revitalised dormant mines and spurred growth in the small-scale mining sector.
Notable among these policies is the reduction of withholding tax on unprocessed gold, which has led to a significant increase in gold exports from small-scale miners, writes Joy News.
Akufo-Addo also added that the West African country is committed to environmental conservation, detailing initiatives such as the Green Ghana project, which has seen the planting of 42mn trees over three years.
Related Articles
Higher oil prices pose risk to Egypt’s strained budget
Officials from Egypt’s government told Al Borsa on June 16 that every $1 increase in global oil prices above the budgeted level adds roughly EGP 4bn–4.5bn ($76.9mn-$89.5mn) per year to public ... more
Petredec to build first VLGC-ready LPG terminal in Tanzania's Tanga Bay
Privately owned liquefied petroleum gas (LPG) shipper Petredec has announced plans to build Tanzania’s first large-scale, open-access LPG terminal at Tanga Bay, in ... more
South Sudan loses 5 tonnes of gold annually to smugglers via Uganda, SWISSAID reveals
At least 5,000 kilogrammes of gold mined by artisanal workers in South Sudan each year is escaping government oversight, with most of it smuggled through neighbouring Uganda to the United Arab ... more