The government has assured mining companies in the country of a stable power supply to boost productivity and contribute to sustainable economic development.
The provision of reliable and affordable power is expected to enhance the operations of mining firms and avoid interruptions to their operations due to the high dependency of their machinery on power.
John Abudulai Jinapor, Minister of Energy and Green Transitions, gave the assurance at the opening of the 18th Edition of the West African Mining and Power Exposition Conference (WAMPEX) in Accra on Wednesday.
More than 5,000 registered delegates and 220 exhibitors from 30 countries are participating in the three-day event, themed “Driving Sustainable Investment Opportunities in West Africa.”
Mr Jinapor said the mining and energy sectors were the backbone of global development and that power fluctuations in those sectors could affect production, safety, and profitability.
The Minister stated that recent reports indicated stable power generation, adding that measures were underway to ensure transmission efficiency.
In that regard, Mr Jinapor announced that he had approved the Electricity Company of Ghana (ECG) to inject 200 new transformers in major capital cities in the country to enhance transmission efficiency.
“I’ve granted approval to ECG as a matter of urgency to inject about 200 new transformers in our major capital cities to ensure that we do not just generate power, but we can transmit that power and distribute that power to consumers effectively and efficiently”, he said.
Mr Jinapor said drilling activities along Ghana’s offshore basin had begun as part of policy actions that would revitalise and ensure regulatory certainty and predictability for investors in the power and petroleum sector
“The government has embarked on a couple of policy actions aimed around to ensure that there’s regulatory certainty, predictability for investors in both the power and petroleum sector,” he added.
Emmanuel Armah Kofi Buah, the Minister for Lands and Natural Resources, said the global energy transition and climate action had informed the need to rethink traditional mining extraction models.
He said the $1.2 billion foreign direct investment recorded in Ghana’s mining sector last year was an indication that the policies the Government had put in place had boosted investor confidence.
“With decades of commercial mining experience that has made Ghana Africa’s largest gold producer and a top 10 global supplier, we have learned that true wealth lies not just in what we take from the earth but in how we develop it,” Mr Buah said.
Michael Edem Akafia, President, Ghana Chamber of Mines, said sustainability must be at the centre of mining operations and emphasised the need for long-term survival and viability of the mining sector without compromising the environment.
He urged players in the sector to develop the supply value chain by strengthening capacity to ensure effective local participation.
Mr Akafia said the Chamber fully supported the Government’s newly created Gold Board and pledged to support its successful operationalisation.
Source: GNA
