Ghana’s campaign to process its gold domestically will push up expenses for the sector, but the nation must bear part of the financial load to retain more mineral wealth, according to the head of the country’s mining body.
Dr Ken Ashigbey, Chief Executive Officer of the Ghana Chamber of Mines, acknowledged that local content and processing initiatives inherently carry a price tag.
“But before I even get to the time scale, in terms of the issue about the cost, you know, and again, we should all realise the fact that you know, when you want to do this local content, it comes with some cost,” he said.
Dr Ashigbey urged a shared approach, maintaining that commercial viability depends on close cooperation between the state and mining firms rather than placing the burden entirely on private enterprises.
“All of us need to chip in. The more we do in this country, and the more we all work together, government needs to put its skin in the game,” he said.
He recommended that ministers review existing levies that artificially inflate processing expenses. Simultaneously, he noted that private operators must deploy modern technology to lower overheads and boost operational efficiency.
“The issue, of course, is that it is coming from the taxes and the levies that are on; government would have to look at that, and I know that conversation is going on,” he said.
“The issues of these private sector people who own the refineries in terms of the technology that they need to put in to be able to ensure that they reduce their cost, it’s something that we need to do,” he added.
High energy tariffs also remain a key operational challenge for the domestic refining sector, he added.
By: Rainbowradioonline.com/Ghana