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Dr. Mahamadu Bawumia, the flagbearer of the New Patriotic Party (NPP), has unveiled plans to create a minerals development bank should he be elected president in the upcoming December elections.
The objective of this initiative, as outlined by Dr. Bawumia, is to provide financial support for mining ventures across the country. Addressing participants at the 3rd Annual Transformational Dialogue on Small Scale Mining in Ghana, held at the University of Energy and Natural Resources in the Bono Region, he emphasized that the implementation of this policy would curb the practice of foreign mining companies repatriating all their profits.
He stated, “We also want to, as I said, in collaboration with the relevant state institutions like MIIF, PMMC, the Bank of Ghana, the private sector and others, we want to establish a minerals development bank to finance viable local mineral projects and to mitigate foreign financing of local mining projects, which leads to heavy smuggling of the produce afterwards.”
Source:Omanghana.com
