Institute gold festival in Ghana to showcase responsible mining practices
Oral tradition and official sources indicate that our forebears had the relative skills of their time to mine and process gold for ornamental and commercial purposes, especially, during the trans-Atlantic trade. The talents of salt miners, gold and black smiths among others were harnessed to oil the economies of the various traditional settings, localities and socio-political configurations of the time.
Metallic craft objects dating as far back as several centuries with religious/spiritual and social significance can be found across West Africa, be it in Nigeria, Benin, Togo, Ivory Coast and Ghana.
In Ghana for instance, the Manhyia Palace is not only the citadel of Ashanti/Asante history, culture, and traditions, but, it is the seat of the Ashanti/Asante Kingdom and the official residence of the Asantehene, where the Golden Stool, “Sika Dwa Kofi” resides. The Golden Stool, apart from it being a priceless possession, it is a symbol of power and unity in the Ashanti Kingdom.
The present day Ghana was once known as Gold Coast, because of the abundance of gold coupled with the expertise of our ancestors/forebears managing gold and gold dust to promote their socio-economic as well as politico-religious endeavours.
Folktales support the view that after heavy down pours, communities down south could pick gold straight from the soil. Indeed the gold rush across Ghana for some time now by some licensed and unlicensed actors, with its attendant environmental degradation is a testimony or affirmation of the pedigree of our beloved Ghana/ (Gold Coast) as the land of gold.
We have to act fast as a country to stop the impunity in the mining sector of the country else, we risk an environmental calamity that will eventually consume all of us. In fact, we are already seeing the challenges the Ghana Water Company Limited is facing at some of its water extraction points as a result of illegal mining.
In spite of the dangers associated with illegal mining, if we are able to manage the exploration and exploitation sector very well, it can put the country on better footing, in terms of the positive returns we can get from the mining sector.
Statistics about Ghana’s gold products and reserves are encouraging. According to the International Trade Administration (www. trade.gov) Ghana’s gold reserves are estimated at 1,000 metric tonnes which has remained constant since 2023.
The country’s gold production in 2024 was around 130,000 kilograms. Again in 2023 Ghana produced approximately 4.2 million ounces of gold with the Bank of Ghana’s gold reserves increasing by 56 per cent in the past year reaching 30.5 tonnes in 2024.
The country is a significant gold producer in Africa, with major gold producing regions including Ashanti, Western and Eastern regions.
Key gold mines include Ahafo and Akyem mines (Newmont), the Obuasi mines-Anglogold Ashanti and Damang mines-Gold fields.
The Ashanti gold belt is a major gold producing area hosting several large gold deposits including the Obuasi mine.
At a recent public forum in Sunyani, Bono Regional capital, Dr Steve Manteaw, Co- Chair of Ghana Extractive Industries Transparency Initiative (GHEITI) proposed that the time is rife for Ghana to institute a gold festival.
From Dr Manteaw’s perspective, the gold festival will serve as a platform to exhibit ornaments, artefacts, machinery and equipment, documents as well as all processes that relate to gold mining for the benefit of the general public and investors at a go. He intimated that the one spot event (the festival) will bring culture, heritage, science, engineering and business together “to celebrate responsible mining and the true value of Gold”.
This festival, Dr Manteaw noted can be spearheaded by the Ghana Tourism Authority as one of its projects to further project the country’s image globally.
One can just imagine the tourist/visitor traffic that this festival could generate with its attendant revenue benefits to the state.
Dr Manteaw highlighted that gold mining in Ghana, which has been ongoing for more than a century, has brought some benefits that need to be extolled.
“Along the gold value chain, lies a huge business opportunities found in the area of procurement as stipulated in the Minerals and Mining (Local Content and Local participation) Regulations, 2020(LI.2431).
The purpose of the regulations among others is to promote job creation through the use of local expertise, goods and services, businesses and financing in the mining industry value chain and their retention in the country.
Pursuant to Regulation 7 of LI 2431, the commission is required to publish in the Gazette, the website of the commission and in a newspaper with nationwide circulation and local procurement list which stipulates the goods and services with Ghanaian content which are to be procured in the country.
Regulation 7(3) of LI2431 further states that the commission shall review the procurement list annually.
The new list is to increase the Ghanaian content by preserving more items for companies or entities whose shareholders and Directors are citizens of Ghana.
The overall aim is to deepen local participation and enhance true local procurement as only about half of the three billion dollars (40 per cent of mineral revenues in 2023) that was spent on goods and services by the mining companies was undertaken by Ghanaians.
With Gold receipts of nearly 11 billion dollars at the end of 2024, the case for a strong local content and local participation cannot be overemphasised.
Dr Manteaw said multinational mining companies such as Newmont, Anglogold and Obuasi mines operating in the country rely on both foreign and local sources for their food needs.
It is a common knowledge that most of these multinational mining companies had to import most of their food needs outside because local companies providing such services do not have the capacity to meet demands thereby creating jobs in those economies.
“Local companies need to come together or engage in joint ventures to be able to produce to meet demands of these multinational mining companies in the area of food supplies so as to create jobs for the local community,” he stated.
Attempt to get official information on budget allocation on food imports by some of these mining companies prove futile as they claim such information are classified.
Looking at what is currently happening at the mining sector, a deliberate government policy to build capacities of local entrepreneurs with financial support would go a long way to enable them provide such services to create sustainable and meaningful jobs for the people.
Instituting and celebrating gold festival just like the Akwasidae by the Asantes, Hogbetsotsoza by Ewes and Kundum by the Nzemas would not only project the rich cultural heritage of our dear country, but would also help to showcase the waves we are making in Ghana’s mining sector for others in the West African sub-region to emulate.
The writer is a Journalist.
(0248523868).
BY DANIEL BRUCE DZIRASAH
🔗 Follow Ghanaian Times WhatsApp Channel today. https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
🌍 Trusted News. Real Stories. Anytime, Anywhere.
✅ Join our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
