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Investors will pull out if we don’t fix galamsey – Chamber of Mines CEO warns

Sulemanu Koney, CEO of the Ghana Chamber of Mines, stated that the solutions to the galamsey issue are attainable but will necessitate strong political determination and continuous effort. During an interview on PM Express Business Edition, he outlined a strategy for ending illegal mining in Ghana, emphasizing the importance of collaboration and rigorous policy enforcement.

Mr Koney highlighted the importance of segmenting the mining sector to address the distinct challenges faced by small-scale and large-scale miners. “As a student of marketing, I trust in segmentation. You have a problem, segment the problem,” he advised, stressing that each sector requires tailored solutions.

“Let’s look at small-scale mining, help them with proper, effective regulation, and provide technical support where necessary.” He urged the government and stakeholders to ensure that small-scale miners receive the necessary training and resources to comply with regulations, pointing out that lack of technical expertise is one of the root causes of illegal practices.

“We need to know who is in charge of the small-scale mining operations, and we need technical experts approved by the Minerals Commission to assist with regulation,” Mr Koney said. Despite the challenges, Mr Koney is optimistic about the future.

He believes that with the right political will and commitment from all stakeholders—including traditional authorities and business leaders—Ghana can finally put an end to the galamsey problem.

If we mean well as a state, as a country, we can handle this. The solutions are very close to us,” Mr Koney. “We need to be on the ground and make sure what is right is right, and what is wrong is wrong.” He also expressed concerns about the long-term effects of galamsey on the environment and the nation’s international reputation.

The Chamber of Mines boss warned that international investors might soon shy away from Ghana if more stringent measures are not implemented. Very soon, investors in large-scale mining companies who are green-conscious may pull their funds if we don’t show that we are serious about sustainability,” Mr Koney cautioned.

He called for a more holistic approach to solving the illegal mining issue. “We need to raise Indigenous capital for small-scale mining through exploration and investment, but we can only do that if we are serious about effective regulation,” Mr Koney stated.

 

Benjamin Mensah
Benjamin Mensahhttps://freshhope1.org
Benjamin Mensah [Freshhope] is a young man, very passionate about the youth of this Generation. Very friendly, reliable and very passionate about the things of God and all that I do. The mission is to inform, educate and entertain. Feel free to send your whatsapp messages to +233266550849 and call on +233242645676
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