Ghana pushes for incentives to support African Climate Action at PDAC Summit

The Minister for Lands and Natural Resources, Mr Samuel Abu Jinapor, has advocated for incentives and rewards for African nations taking the lead in combating climate change.

He made the appeal at the International Mines Ministers Summit, held during the Prospectors and Developers Association of Canada (PDAC) Convention on Monday in Toronto, Canada.

The summit themed, "Striking a Balance for Success: Responsible Mining and the Energy Transition," brought together ministers, industry leaders and civil society organisations to discuss the future of mining in the face of global warming and the transition towards green minerals.

During Session One, titled "Sharing a Path to Success: Building a Framework for Collaboration, the Minister emphasised the importance of collaboration between governments and mining companies for a mutually beneficial and sustainable mining industry.

He stressed the need for affirmative action that would ensure host countries benefit more equitably from their natural resource endowment.

"African countries who take the initiative to contribute to the fight against climate change must be rewarded and incentivised to pursue that path," Mr Jinapor stated.

He underlined the need for producers of raw materials for clean energy to benefit significantly from these minerals.

While acknowledging the noble goal of energy transition, the Minister highlighted the need for a deliberate and conscious policy that prioritises the interests of host countries.

He advocated for a paradigm shift in Ghana's mining policy, moving from mere mineral production to value addition, exemplified by the recent Lithium agreement with Atlantic Lithium.

The agreement ensures the establishment of a refinery plant in Ghana and the opportunity for Ghanaian ownership through listing on the Ghana Stock Exchange.

Again, the Lands Minister joined his counterparts on the sidelines of the Summit to close the Toronto Stock Exchange amidst thunderous applause from global participants.

Ministers at the summit, were from Canada, Germany, Peru, and Finland, among others.