The CEO of Chamber of Mines Sulemanu Koney, has said that gold was a major contributor to the cedi’s stability this year during the coronavirus pandemic.
According to him, the high price of gold during the pandemic led to the cedi’s stability.
He advised government not to wait for a crises to realized that the mining industry is a major contributor to the economy.
Sulemanu Koney while addressing the media on Monday said that “As a lesson, we don’t want to wait to as a country to go through a crises before we realise the mining industry as a major contributor to the economy. If we didn’t have the good fortunes of AngloGold Ashanti, we wouldn’t have been in the position to support and take advantage of the healthy price of gold.”
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International bodies projected the contraction of the global economy when the Covid-19 pandemic hit the world but Ghana’s major mineral mine, gold, traded at a higher price during the pandemic.
He noted that the price of gold increases anytime there is a global crises because of its safe revenue status hence it is important to focus on the mining industry.
Koney added the gold mining companies do not only provide employment to people living around the mining area. He said that “we need to take advantage of the value chain to exploit more opportunities aside employment”.
He also called for an intensified collaboration with the other sectors to produce more local input for the mining industry.
Source: Fauzeeya Jamal-deen
