Madam Hannah Owusu-Koranteng, the Associate Executive Director of WACAM, a mining advocacy group, has called on authorities to formulate a viable mining policy to direct the country’s mineral laws.Madam Owusu-Koranteng, who was speaking at a press conference, said the lack of a viable mining policy had contributed to the country’s inability to benefit from the windfall profits in the period of high gold prices.
She said whilst the country had succeeded in attracting huge investments in the mining sector, “We have failed to regulate the sector in such a way that we would reap short and long term benefits from the sector”.
She said the mining sector of Ghana was bedevilled with many problems because of the absence of a policy direction for the sector, which must be sensitive to the plight of citizens and organisation of mining to maximise profit to the state.
Madam Owusu-Koranteng said the country’s mining laws ought to be reformed immediately to ensure the protection of the country and maximisation of profits. She said: “Our laws do not have ‘No Go Zones’ provisions that could protect the heritage sites of the nation, forest reserves, water bodies and settlements among others.”
On his part, Mr Daniel Owusu-Koranteng, the Executive Director of WACAM said the policies and laws of the country did not conform to realities on the ground, which is making the country worse off, though endowed with huge mineral deposits.
He said the country did not have a clear vision on drawing a balance between extractions of the mineral, managing the other important sectors of the economy as well as maintain the equilibrium of the environment.