Ghana to set up $450mn manganese refinery, ban export of raw bauxite

By Kent Mensah in Accra March 4, 2024

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

Johannesburg Stock Exchange eases listing requirements to encourage small caps to stay

South Africa's main bourse, the Johannesburg Stock Exchange (JSE), has amended some listing requirements to make it easier for smaller firms to raise capital and meet compliance costs. The ... more

Equatorial Guinea awards Petrofac $350mn five-year contract centred on Zafiro oilfield

Petrofac has been awarded a $350mn technical services contract by Equatorial Guinea's state oil company to support its operations in offshore Block B when it takes over the asset from ExxonMobil (US) ... more

Namibian community rejects green hydrogen port expansion project serving Germany’s Hyphen

Leaders of Namibia's Nama ethnic group have rejected a proposal by national port authority Namport to expand a facility on Shark Island – a heritage site sacred to the community – to facilitate ... more