Mining companies want partnership

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• KWAME KWAME 11 years ago

  These are indeed opportune moments for our local engineers and entrepreneurs. For many years, Government has been training all sort of engineers - civil, mechanical, electrical, geodetic, mining etc.as well as geologists and ...
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  These are indeed opportune moments for our local engineers and entrepreneurs. For many years, Government has been training all sort of engineers - civil, mechanical, electrical, geodetic, mining etc.as well as geologists and business administration people. These are the skill mix required for any mining operation. If we have these knowledge base in the country, what are we not using them for the good of the country? Instead of looking up to Government to create every business in the country, why don't we start setting up small to mid-size mining companies, run by our engineers and business graduates who have come together to form mining companies. Until we change our minds, we will go no where. Even our Galamseys who never went to any mining school are bold enough to venture into mining business. The next question that one would pose is where is the capital? Since funds may be scarce, we need to start with SURFACE MINING operations where the cost structures are quite minimum. We can then leave the high capital intensive UNDERGROUND MINING ventures to foreign direct investors. Some Bauxite, manganese, gold operations can all be mined using surface mining methods. What government can do is to create a fund with shareholdings from Government, the central bank, private sector organizations and individuals with high net worth to support the financing of such ventures. These are some of the ways we can truly transform our economy as most of the resources we generate (about 90%) from such ventures will be kept in the country (to be used for other investments including the needed infrastructure development) instead of the meagre 10% of revenues we tend receive when we allow these our finite natural resources to be exploited by foreign mining ompanies.

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• Ben, Mining Engineer , South Africa 11 years ago

  Our banking systenm does not support long term entrepreneurs.They support buy and sell ventures.We as a nation too don't empoower our own.Finally if you have a good concept and not politically connected to the ruling governme ...
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  Our banking systenm does not support long term entrepreneurs.They support buy and sell ventures.We as a nation too don't empoower our own.Finally if you have a good concept and not politically connected to the ruling government the pull him down syndrome will make your business a mirage.

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