Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has announced that if elected, his government will invest in the Ghana Geological Survey Authority (GGSA) to explore mineral resource deposits across the country.
The aim is to increase earnings from the country’s mineral deposits, as Mahama believes that the current situation is not in the best interest of Ghana.
Presently, foreign investors often undertake geological surveys and benefit more from successful mining operations.
“When they explore and discover the mineral, they apply for mining lease to mine. Because they are funding it, it is very difficult to spell out the terms,” Mr. Mahama said.
Former President John Dramani Mahama addressed the issue of mineral deposits in Ghana during a Town Hall meeting in Ayeldo-Abura-Asebu Kwamankese in the Central Region.
He highlighted the need for Ghana to benefit more from its mineral resources and emphasized the NDC’s plan to invest in the Ghana Geological Survey Authority to explore and maximize the potential of these deposits for the benefit of the country’s economy.
“What we benefit now is ten percent current interest, three percent royalties and corporate income tax of 35 percent. That is what we get. The foreigners take away the rest,” he said.
After the discovery of lithium in commercial quantities in the Central Region, there has been increased debate on the exploration deal. The Chief of Ayeldo, Okakaben Idun Andoh X, stated that initial geological investigations had confirmed commercial quantities of lithium in the area. The community anticipates improved fortunes from mining the mineral.
However, John Dramani Mahama emphasizes the importance of implementing the right policies to maximize the benefits of such mineral resources for the country.
“We will make laws that will allow the country to make the necessary income. We must make more from the mineral resources than what we are making presently,” he added.