Sulemanu Koney, the CEO of the Ghana Chamber of Mines has stated that without the mining industry the Ghana cedi would have been worse of trading at ¢25 to $1.
The CEO speaking on Joy News’ PM Express stated, “Trust me, if you didn’t have the mining industry, we would probably be heading to around ¢25 to $1.”
He admitted that while there are misconceptions about the mining industry’s contribution to the economy, the facts speak for themselves.
According to the CEO, a significant portion of the country’s foreign exchange profit comes from the mining industry.
“Over the last few years, we’ve had a collaboration with the Bank of Ghana where part of our gold is sold to them as part of their reserves. This has been voluntary, not compulsory, but we still do it,” Mr Koney he stated.
Amid growing concern of illegal miners, known as galamsey that have left our water bodies and environment in a sorry state, there have been calls by many Ghanaians to place a ban on all mining activities in the country.
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