Accra, June 5, 2017//- Ghana Chamber of Mines has initiated a process to launch an online portal on local content to provide in-depth information on mining inputs required by it members which they are inviting local manufacturers and suppliers to bid.
The President of the Chamber, Kwame Addo Kufuor who disclosed this the Chamber’s 89th Annual General Meeting (AGM) in Accra, over the weekend.
The portal, according to him would be launched this year to support potential investors and local entrepreneurs who can provide these inputs with up-to-date and specific information to enhance the implementation of the local content regulations.
The country’s Minerals and Mining Act (2006), Act 703 and the Minerals and Mining General Regulations (2012), Legislative Instrument (LI) 2173 require, among other things that mining companies procure inputs from Ghana to the maximum extent possible.
The LI 2173 was facilitated by the collaborative work between the Minerals Commission, Ghana Chamber of Mines and the International Finance Corporation (IFC) as part of a broad National Supplier Development Programme in the mining industry in 2010.
A key objective of the programme is to support local enterprises to improve their competitiveness to participate in and take advantage of opportunities in the mining value chain, Mr Kufuor noted.
The collaboration identified 28 mining inputs which could be sourced locally albeit with varying degrees of quality improvement, he added.
These inputs Mr Kufuor mentioned include: grinding media; bolts and nuts; heavy duty electrical cables; HDPE/PVC pipes; calico bags; general lubricants; cement & cement products; and plastic sample bags.
Earlier, the government said the mining companies operating in the country purchased 73 percent of their goods and services locally.
The Minister for Lands and Natural Resources, John Peter Amewu said.
He said: “I have been informed that with respect to performance on true local procurement in 2015, the mining industry achieved about 73% of its planned local purchases per the local content regulations”.
“I believe that the industry will do well to achieve 100% of its planned local purchases in the coming years”, Mr Amewu urged.
The local content regulations of the mining sector require mining companies to source a list of items from local vendors.
He added that the mining sector, in 2015 contributed about 14.4% of government revenue and 34% in terms of total merchandise exports and produced about 3.6 million ounces of gold which resulted in export revenue of about US$3.3 billion.
“Also the same year mining companies repatriated about 72% of foreign exchange into the economy”.
African Eye Report
