The CEO of the Ghana Chamber of Mines, Dr Kenneth Ashigbey, has emphasised the need to leverage local content by providing incentives for people to start manufacturing in-country to boost exports in the services sector.

He said this when the new leadership of the Chamber met journalists in Takoradi in the Western Region.

“Mining is about sustainable development and not just rent. We should focus on harnessing the full benefits beyond the direct fiscal contribution,” Dr Ashigbey concluded.

He tasked the media to optimise the inherent value of the mining sector for Ghanaians and also act as a positive catalyst for enhancing local content as well as champion Ghana’s sustainable development, especially in the communities, as the Chamber prepares to celebrate the centenary of mining in Ghana.

He described 2024 as a good year, saying Ghana’s mining industry witnessed stability and would sustain the gains.

“We hope to continue on that trajectory, only just to have the production and the revenues going up.”

According to him, Ghana recorded a broad-based increase in the production of traditional minerals in 2024. The historic level of gold production enabled Ghana to retain its position as Africa’s leading gold producer and the sixth largest gold producer globally.

Ghana accounted for 2.8 per cent of global gold output in 2024, an improvement over the 2.6 per cent recorded in 2023.

The chamber achieved an all-time high target of 4.8 million ounces in 2024, from the 2023 performance of 4.0 million ounces.

He noted that the vision was to be a respected, effective and unifying voice for the mining industry in Ghana.

“We believe that our predecessors have done a great job at that.”

He said the Chamber would conduct and invest more in exploration as there were signs of enough gold underground in Ghana, which could last for the next 900 years.

The CEO announced that three firms were undertaking reconnaissance and prospecting activities, with one of them prospecting for almost 10 years.

Dr Ashigbey spoke about some members providing mining services even globally, and creating jobs, and called for a conversation on taxation on mining in Ghana and also to expose those involved in illegal mining operations to safeguard the health of communities and the local economy.

Manganese production, he told journalists, also showed a rise from three million tonnes in 2023 to five million tonnes in 2024, while diamond improved from 0.202 million carats in 2022 to 0.332 million carats in 2024.

Bauxite saw an increase of 76.5 per cent from 0.959 million tonnes to 1.694 million tonnes over the same period, Dr Ashigbey stated.

The CEO described the chamber’s contribution to revenue as very significant and reported that, in 2024, producing members spent $ 5.5 billion on local procurement, translating into 73.7 per cent of their mineral revenue with spillover supports to local industrial growth, skill development and employment.