To bolster industrialization and maximize the value of its natural resources, Ghana's government has announced ambitious plans during President Nana Addo Dankwa Akufo-Addo's State of the Nation Address in Parliament.
One of the key initiatives unveiled is the establishment of a US$450 million refinery to refine manganese produced within the country. This move is aimed at adding value to locally produced minerals and enhancing Ghana's industrial capacity.
Additionally, the government intends to pass a new Legislative Instrument (LI) to prohibit the export of bauxite in its raw state. This measure seeks to encourage local beneficiation of bauxite, ensuring that Ghana derives maximum value from its resources.
Furthermore, Ghanaian investors will be given priority in acquiring Newmont Corporation's Akyem Mine, the country's third-largest gold mine located in the Eastern Region. This initiative aims to ensure that Ghana's mineral resources benefit its citizens and contribute to national development.
In line with efforts to add value to Ghana's gold production, a 400-kilogram capacity gold refinery, established through a public-private partnership, is in the final stages of negotiations for a London Bullion Market Association (LBMA) Certificate. This move is expected to enhance Ghana's competitiveness in the global gold market.
Moreover, a policy framework has been developed for the exploitation and management of green minerals, including lithium, to ensure beneficiation across the value chain, emphasizing Ghana's commitment to sustainable resource management.
Environmental conservation remains a priority, with efforts including tree planting initiatives under the Green Ghana Project and forest reclamation efforts. Over the past three years, 42 million trees have been planted, and 690,000 hectares of degraded forest have been cultivated under the Ghana Forest Plantation Strategy.
These initiatives underscore Ghana's determination to leverage its natural resources for sustainable development and economic growth.