Mr. Fred Attakumah – Managing Director of AngloGold Ashanti Ghana, who is also the 1st Vice President of the Ghana Chamber of Mines, recently opened the 87th Annual General Meeting of the Chamber in Accra. Below are excerpts of his remarks.

IMG_6062?The theme for this year?s AGM of Ghana Chamber of Mines is ?Leveraging the Mining Sector to catalyze National Development? and it is geared towards re-examining our strategies for deploying the mining industry as a critical partner in national development while we continue to further affirm the industry?s position as a major contributor to Ghana?s economic progress.

This is notwithstanding the sustained headwinds of depressed metal prices, high input costs and energy security challenges against which our industry has had to contend over the period. It is our view that the industry and its stakeholders are presented with a unique opportunity to innovatively position mining as a critical agent for catalyzing broad-based sustainable growth and socio-economic development. This will require recognition of the important role the sector plays in the Ghanaian economy and a broader understanding of its beneficial multiplier effect across the socio-economic spectrum of our country.

Specifically, we need to look beyond the traditional contribution of fiscal flows, foreign exchange generation, job creation and technology acquisition to the broader opportunity of strategically leveraging the sector a lot more for SME development by taking advantage of upstream, downstream and direct value chain opportunities that the mining industry presents.

In this regard, industry players must ensure that benefits generated by the sector are sustained through active support for local procurement initiatives, integration of local businesses into our supply chains, catalyzation of diversification and pragmatic resource management.

It is our ardent belief that given the context set, and supported by a robust policy framework, mining can take a centre stage in the development of skills, expertise and revenues necessary to catalyze national development.

Honourable Minister, distinguished ladies and gentlemen, let me conclude by saying that the Chamber will continue to leverage our industry as a critical growth pole for national socio-economic development. This will be further strengthened by our members? existing interventions and strategic objectives. ?

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