The Deputy Minister of Lands and Natural Resources, George Mireku Duker, yesterday reiterated government’s commitment to translating the volumes of minerals such as iron ore the country is endowed with into wealth for the development of the country.
Addressing participants at the opening of a two-day workshop by the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) in Accra, the minister said  the exploitation of minerals has contributed significantly to the development of the country, with gold alone providing approximately 40 per cent of export earnings while accounting for more than 90 per cent of gross mineral revenues.
He said “the priority of the government of President Akufo-Addo, going forward, has, however, been the translation of the volumes of minerals production into wealth to benefit all stakeholders equitably, through value addition and linkage development with the rest of the economy.”
The minister indicated that the Government of Ghana under the “Ghana Beyond Aid Agenda” and in response to key provisions of the Africa Mining Vision has also moved from raw exports of mineral resources to export of value added products, and has adopted strategies to promote value development along value chain of our iron ore resources in order to diversify the economy through the establishment of the Ghana Integrated Iron and Steel Development Corporation.
The Ghana Integrated Iron and Steel Development Corporation was formed by an Act of Parliament in 2019 (Act 988) with the mandate to promote and develop an Integrated Iron and Steel Industry in collaboration with investors, both local and foreign.
The minister, however, indicated that though mining has played significant role in the development of the country, it usually occurs in the upstream side, giving little attention to the downstream, which holds more potential for sustainable development.
He, therefore, urged GIISDEC and its strategic partners involved in the development of the integrated master plan to work and come up with a workable master plan to pave way for an investor road show in the shortest possible time.
For his part, the Board Chairman of GIISDEC, Farouk Aliu Mahama, said the corporation is poised to achieve the President’s vision of an integrated iron and steel industry as another milestone for the development of the country.
He said the master plan developed will provide technical guidance and full scope of iron ore reserves and steel development that will provide the right steps and full utilisation of the iron and steel value chain to boost Ghana’s economy.
He further stated that the four major areas of the master plan which include mining, smelting, refinery and the downstream, which is critical to the development of the steel industry, would be enhanced as a result of the workshop. This, he added, will enable stakeholders to embrace best environmental practices with the vision of Ghana becoming the best iron and steel hub in Africa.
The CEO of GIISDEC, Kwabena Bonsu Fordjour, also mentioned that steel was the backbone of every economy as it plays roles in the aviation, automobile and other sectors such as railway and construction.
He, therefore, believes the workshop would among other benefits provide a road map for the company to achieve its core mandate within the expected time frame.
The two-day workshop brought together representatives from the Ministry of Lands and Natural Resources, Ministry of Finance, Ghana Ports and Harbours Authority, Forestry Commission among a host of other stakeholders.
By Ebenezer K. Amponsah