A resource governance expect, Mr Kwabena Niamah Mensah says a linkage in the value chain of mineral resources in Ghana must be built.

According to him, he is glad government has taken a bold initiative to guard other minerals like bauxite and iron.

This, he believes it would be a game changer if government can do the same for gold.

He said people mining gold on the shores for over 500 years with nothing to show for it happened as a result of “asymmetry of knowledge between the host country and investors that come in we end making not so good deals so we always tarred of at a disadvantaged even from the agreement stage.”

Speaking at the Public Forum on Monetization of Mineral Royalties, Mr Mensah cited a value chain of mineral resourced developed across the globe which has helped to turn the economy round.

“If you go to Botswana, they are a diamond producing country like ours, with just under 5million people. Sierra Leone, our next-door neighbour has basically the same geology and kind of gold that Botswana has but this is what Botswana did, they stroke a deal with DBS that only 50 per cent value of the diamond will go to them and the rest of it will stay in the country.

“And they went further and insisted that the diamond is polished, value addition is made to the diamond in Botswana and it has turned their economy around making them the fastest growing economy for a long time. And this is what we haven’t done,” he stressed.

He further asked how the country would have to monetize its gold such that the capacity in the local industry would be built.

He added that “Monetizing gold gives you the upfront funding that we can use to set up what will be required to have the value chain developed effectively and efficiently in Ghana.

“It is one sure way of getting the funding that we need to build capacity, to build the local content, to build the local industry that will add value apart of from the Royalties will get us.”