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The 2023 Korea-Ghana Energy Cooperation Seminar was organized by the Embassy of the Republic of Korea in Accra on Thursday, November 30, 2023.
The seminar focused on exploring potential collaboration between Korea and Ghana in the energy and mining sectors, as well as fostering connections between the Embassy and Ghanaian officials in the mining sub-sector.
Mr. Benjamin Aryee, Advisor on Mining to the Minister, represented Hon. Samuel A. Jinapor, the Sector Minister, and delivered a presentation on the theme “Current Situation and Policy of Ghana’s Mineral Industry.” He provided an overview of Ghana’s mining sector, highlighting its contribution to the economy, with an average of 7.9% of GDP, with 7% attributed to gold alone. Mr. Aryee also discussed the regulatory framework for managing mining, including key legislation such as the Minerals Development Fund Act, 2016, and the Minerals Income Investment Fund Act, 2018.
He emphasized attractive incentives for investors interested in mining in Ghana, including the availability of geoscientific information, political stability, and a supportive legal and fiscal regime.
Mr. Seidu Alidu, Principal Geologist with the Ghana Geological Survey Authority (GGSA), presented on the current situation and outlook of Ghana’s Mineral Resources. He highlighted Ghana’s focus on the production and exportation of gold, manganese, bauxite, and diamonds, with efforts to explore industrial energy and other economic minerals such as lithium, iron ore, limestone, and more.
Discussing the market outlook for critical minerals in Ghana and investment opportunities, Mr. Bubune Kofi Sorkpor, Chief Investment Officer with the Minerals Income Investment Fund (MIIF), outlined MIIF’s strategic positioning and its investments in gold, lithium, salt, quarries, graphite, and limestone. He emphasized MIIF’s evergreen nature and co-investment opportunities for market players.
Notable participants included the Deputy Korean Ambassador, Mr. Moon Dong Kyu, and the Korea Trade-Investment Promotion Agency (KOTRA) Director, Mr. Kim Young Sang, who engaged in a question-and-answer session.
Source: Omanghana.com
