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. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

US development finance institution DFC commits $412mn to build Sierra Leone power station

The US International Development Finance Corporation (DFC) has committed $412mn to support the construction of Sierra Leone's first major power station. The funding package includes a $292mn loan ... more

South Africa’s Eskom refutes claims of excessive diesel-burning to keep lights on pre-election

South Africa’s state-owned power utility Eskom has refuted claims circulated by media outlets that it has been burning excessive amounts of diesel to avert power outages, locally called load ... more

Atlantic Lithium to start trading on Ghana Stock Exchange on May 13

Atlantic Lithium Ltd., the African-focused lithium exploration and development company aiming to establish Ghana's inaugural lithium mine, will begin trading on the Ghana Stock Exchange (GSE) on ... more

Follow Us On

Most Read

  1. Ukraine’s strategy of hitting Russian oil refineries is working
    4 days ago
  2. RAGOZIN: Exhausting Russia, strategies and fantasies
    11 days ago
  3. Azerbaijan, Kazakhstan and Uzbekistan join forces to power Europe
    5 days ago
  4. Think-tank warns UN vote on Srebrenica genocide could trigger Republika Srpska’s secession from Bosnia
    6 days ago
  5. April 2024 sets global moisture record
    6 days ago
  1. Iran vs Israel: Who is better equipped for war?
    1 month ago
  2. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    27 days ago
  3. Saudi Arabia to scale back plans for Neom city
    1 month ago
  4. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    27 days ago
  5. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    12 days ago

Reports

Dismiss