A wholly Ghanaian-owned company, the Great Consolidated Diamonds Limited (GCDL), has reactivated operations at the defunct Ghana Consolidated Diamonds Limited (GCD) at Akwatia in the Eastern Region. The company is investing $100 million in a five-year multi-phase programme, which is expected to produce one million carats of diamonds per annum within the period. The GCDL is also expected to create 2,500 direct jobs and 50,000 indirect jobs for support services. The Vice-President, Mr John Dramani Mahama, on Tuesday inaugurated the new company at a colorful durbar of chiefs and people of Akwatia. GCD was put on divestiture in 1989 by the then PNDC Government and Marigold Limited eventually won the bid. The company was to be divested in 2000, when a change of government occurred. The new administration decided to the divestiture programme on hold. The company was later divested to Sappers Company but the company could not operate, leading to its closure in 2006. When the current administration took over power in 2009, it opened bids for the company, and out of a number of companies, including foreign ones, GCDL won the bid. The GCDL intends to establish an integrated diamond mining and diamond processing industry with the prime objective of turning around the fortunes of the mine. It would also bring on board a management team and consultants with in-depth expertise in mining, business development and finance, and community development. Furthermore, GCDL has put in place an action plan and a turn-around strategy that should lift the company from its current situation into a major multi-faceted mining firm in Africa. Performing the inaugural ceremony, Mr Mahama said the beginning of operations marked an important milestone in the mining industry in Ghana and signaled the rejuvenation of mining on a large scale. He said Ghana used to produce more carats of diamonds, but production dwindled over the years, making it difficult for the defunct GCD to pay salaries and honour payment to its creditors, leading to the closure of the company. Mr Mahama recalled that the then candidate Mills promised the people of Akwatia that he would ensure the payment of severance allowances to GCD employees and ensure the reactivation of its operations. He said President John Evans Atta Mills had since completed payment of severance allowances to all GCD staff members, and indicated that the start of operations at the GCD concession was also in fulfillment of that promise. The Vice-President said the current divestiture was “unique” because the company was wholly Ghanaian-owned and assured the company of the government’s commitment to provide a conducive atmosphere for it to succeed in its operations. He commended GCDL for initiating moves to integrate the activities of the small scale miners into their operations, and indicated that it would be a model to solve the incidence of illegal mining or ‘galamsey’ operations in the country. Mr Mahama stressed the need for the country to have trust in local entrepreneurs as it would boost their confidence and encourage more to come up. The Eastern Regional Minister, Dr Kwasi Akyem Apea-Kubi, urged the GCDL to consider employing former employees of the GCD who were still active. He asked the company to put in place environmental measures that would help to reduce the destruction and degradation of the environment. The Deputy Minister of Lands and Natural Resources, Mr Henry Ford Kamel, said his ministry had developed a policy to promote local participation in the mining sector. The Okyenhene, Osagyefo Amoatia Ofori Panin, who chaired the occasion, expressed joy that it was a local company that had won the bid to reactivate operations at Akwatia and said the start of the operations would restore life to the area.