West African Mining and Power conference opens in Accra

Alhaji Collins Dauda, Minister of Lands and Natural Resources has tasked stakeholders in the mining sector to collaborate with government to achieve sustainable development through mining.

He said while government would play the lead role to achieve the desired goal of using mineral resources to foster sustainable development, stakeholders should put their hands on deck.

Alhaji Dauda was speaking at the opening of the Eighth West African Mining and Power Conference (WAMPOC), under the theme: "Promoting Sustainable Development through Mineral Resource Development" in Accra on Wednesday.

He said mining companies and other mining industry operators should cooperate with government to improve the local content in their operations by adhering to succession plans, procurement of local goods and services and conscious training of locals to work in the mining and allied industries.

Alhaji Dauda noted that companies should strengthen their community affairs department to actively and efficiently engage host communities on issues relating to their mutual co-existence.

He called on traditional authorities to promote dialogue and consensus building with mining firms to maximize economic and social benefits from the mines, adding that the benefits could be channelled into other economic activities to promote development of independent communities.

"Government would streamline and enhance monitoring and evaluation of fiscal and financial flows within the sector to ensure efficient mobilisation and distribution of the benefits of mining," he added.

Alhaji Dauda said legislation and guidelines would be developed to ensure that disbursement and usage of royalties were returned to mining communities.

"The economy of any community, which depends substantially on mining could in time grind to a halt if the use and management of communities' share of revenues and other benefits are not planned, invested and directed properly" he said.

He noted that the economy would be expanded to ensure that mining communities continued to develop after mining activities were stopped.

Mr Kwame Pianim, an Economic Consultant stated that the country needed to maintain a stable macro-economic environment to ensure sustainable development, adding that the economy should be made attractive to foreign financing through the creation of an environment of policy certainty and sustainability.

"We need to have a good policy environment to help us attain greater heights in the mining sector," he said.

He urged government to strengthen and scale up local banks to finance mining industries, while the International Monetary Fund (IMF), World Bank and other interested companies should be given the opportunity to support the sector.