Ghana to develop import substitution companies for mines

The Ghana Chamber of Mines, in collaboration with the Minerals Commission and other partners, are supporting Ghana-based industries for the production of some selected products for the mining industry.

This is to help the country to retain some of the large amount of money used by the mining companies to import some items which can be produced locally at competitive advantage.

This was disclosed by Mr Ahmed D. Nantogmah, Director of Public Affairs and Environment of the Ghana Chamber of Mines, at a media interaction in Koforidua.

He explained that the project was expected to serve as a catalyst for the country to develop companies to build a supply chain for the mining companies and to create employment.

Mr Nantogmah mentioned some of the selected items for local production to include general lubricants, emulsion explosives, grinding media, cement and cement products, quicklime and hydrated lime, heavy duty electrical cables, HDPE and PVC pipes and tyre re-treading.

He said research indicated that in 2013 the direct and indirect procurement by the mining companies in the country amounted to 1,556 million dollars, and that for every one million dollars procurement made, it created 105 jobs in the local economy.