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Business News of Friday, 7 June 2024

    

Source: thebftonline.com

Govt moves to restrict raw bauxite exports

Samuel Abu Jinapor Samuel Abu Jinapor

Ghana plans to introduce legislation restricting raw bauxite exports, announced Samuel Abu Jinapor, Minister of Lands and Natural Resources, at the 2024 West African Mining and Power Conference.

The new law, pursuant to the Ghana Integrated Aluminium Development Corporation Act, aims to leverage Ghana's 900 million metric tonnes of bauxite to develop an integrated aluminium industry.

The government is also investing in infrastructure and regulatory improvements to support sustainable mining.

Efforts include decentralizing the Minerals Commission, updating regulatory frameworks, and incentivizing exploration to uncover new mineral reserves, promote local content, and ensure economic growth and job creation in the mining sector.

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