Duker: Bawumia’s Minerals Development Bank will deepen participation of locals in mining sector

The deputy minister of lands and natural resources responsible for mining, George Mireku Duker, has said the proposal by the NPP presidential candidate, Mahamudu Bawumia to establish a Minerals Development Bank will revolutionise small-scale mining financing in Ghana and deepen the participation of indigenes in the sector.

Currently, most locals are not actively participating in the mining sector due to the huge capital involved in owning and operating a concession.

The development has forced many indigenes to front for foreign nationals, thereby, leaving them with a minimal stake in such concessions.

Speaking on Joy News on Tuesday (16 July), Duker said the Minerals Development Bank will be a game changer.

“The small-scale mining alone in Ghana could create not less than one million direct employments. So the small-scale mining sector if encouraged could do a lot to address the unemployment situation we have in the country.

“It says we will establishment Minerals Development Bank. That’s a game changer…”

“So, If Minerals Development Bank is established, for these people, then they could access funding by themselves and pay whatever interest as they mine. So your concession will be assessed by the bank and if it is feasible, then we can think of getting some funding from the bank,” Duker said.

Listen to George Mireku Duker in the attached audio clip below:

Reporting by Fred Dzakpata in Accra

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