Business & Finance

Ghana Seeks LBMA Certification For Processed Gold Exportation

Pieces of jewellery from Precious Mineral Marketing Company Jewelry Limited may soon be easily exported onto the international market for sale.


This will be after Ghana receives certification from London Bullion Marketing Association (LBMA) and the Rand Refinery.


This was disclosed by the Minister for Lands and Natural Resources, Samuel Abu Jinapor, during a press briefing on Tuesday, February 28, 2023.


He said PMMC Jewelry Limited, a subsidiary of the PMMC produces gold tablets, engraved and plate jewellery and these will be exported if the ongoing discussions with Rand Refinery of South Africa, and London Bullion Marketing Association (LBMA) push through.


“Discussions are ongoing with Rand Refinery of South Africa, and London Bullion Marketing Association (LBMA) refinery to secure LBMA certification to enable easy export and trade of our refined gold on the International Market.”


This forms part of the country’s quest to add value to mined gold.


The establishment of a gold souk for manufacturing and marketing of gold articles in Accra is also part of the government’s plans to add value to the gold mined in the country.


Gold Mining

Updating the country on gold mining, he said, the sector gave the country US$6.6 billion in 2022.


He noted that there have been significant investments in the redevelopment and expansion of existing mines.


“After reviving the Obuasi mines in 2019, the Bibiani mine which had been dormant for seven years has also been revived and production started in October last year.”


According to him, these investments will result in a significant increase in mineral production and government revenue.


He continued, “To promote more investment in the sector, we are currently undertaking a general review of the mining policy adopted in 2014 and the Minerals and Mining Act which was passed in 2006 to align them to current developments in the mining industry, local content and local participation.”


He said four new large-scale mining operations will start production within the next two and half years in the country.


Other Minerals

For Aluminium mining, he stated that the implementation of the Ghana Integrated Aluminium Development Corporation’s four project agenda is on course and at various stages.


With respect to Iron Ore, Hon Jinapor said, the mineral resource estimation is underway at the Akwafo deposit to determine its tonnage, grade and value.


Touching on limestone mining, he said, “The Ghana Geological Survey Authority continues to intensify limestone exploration in the Mamprusi West District of the NorthEast region to develop limestone mines to feed the cement industry.


“Over 3, 000 acres of land have been identified as suitable for clinker production. The Authority has also identified and evaluated over 1,275 metric tonnes of clay resources at Assin Fosu and its environs in the Assin North and Central Districts of the Central Region suitable for the production of high-quality acid crucibles, bricks, tiles and electrical porcelain.”



Source: Fuseini

Related Articles

Back to top button