Inusah Fuseini, Minister for Lands and Natural
Resources has said that Government could leverage on the expertise of the
Precious Minerals Marketing Company (PMMC) to establish a “Gold City” in the
country.
The concept could be modelled along the lines of
similar facilities in Dubai, United Arab Emirates and Johannesburg, South
Africa.
“The world-class facility will provide a unique opportunity for the accelerated transformation of the mining industry in the country through enhanced value-addition by offering an excellent platform to nurture, sharpen and develop the skills of our indigenous craftsmen to international standards,” he said.
The management of PMMC can submit for consideration to Government a strategy spelling out the necessary modalities, specific guidelines and time-frames for the implementation of a similar project.
“The world-class facility will provide a unique opportunity for the accelerated transformation of the mining industry in the country through enhanced value-addition by offering an excellent platform to nurture, sharpen and develop the skills of our indigenous craftsmen to international standards,” he said.
The management of PMMC can submit for consideration to Government a strategy spelling out the necessary modalities, specific guidelines and time-frames for the implementation of a similar project.
“This could
help to recapitalise the organisation.” Fuseini made the announcement when he
visited PMMC as part of his familiarisation tour of agencies under his
Ministry.
The occasion afforded the sector Minister an
opportunity to acquaint himself at first hand with the operations of the
facility and brainstorm with management on possibly solutions confronting the
state-owned organisation.
The Minister said that PMMC was fulfilling one of the Government’s desires to make jewellery fabricated with the nation’s precious minerals available locally to Ghanaians and visitors to the country while providing a ready market required for the development of small- scale mining sector in Ghana.
Mr. Reuben Damptey, Managing Director of PMMC, revealed that the company which was established in 1963 has honoured all statutory payments to government and has generated over US$1.6billion in repatriated export foreign exchange earnings for Government since 2007.
The Minister said that PMMC was fulfilling one of the Government’s desires to make jewellery fabricated with the nation’s precious minerals available locally to Ghanaians and visitors to the country while providing a ready market required for the development of small- scale mining sector in Ghana.
Mr. Reuben Damptey, Managing Director of PMMC, revealed that the company which was established in 1963 has honoured all statutory payments to government and has generated over US$1.6billion in repatriated export foreign exchange earnings for Government since 2007.
Highlighting the challenges confronting the company,
Mr. Damptey cited lack of capital to renew plant and equipment as an issue of
major concern and pleaded with the minister to follow-up on the company’s
application for a “Public Private Partnership”.
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