April 16, 2024
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Egypt Mining Forum: Africa must have a say in Gold pricing ~ Mireku Duker

George Mireku Duker, the Deputy Minister for Lands and Natural Resources, is currently attending the 2023 Egypt Mining Forum, a two-day seminar aimed at providing a platform for policymakers and stakeholders to discuss strategies for the mining industry’s significant contributions to various economies.

During a panel discussion on maximizing benefits from African resources, Mr Duker emphasised the importance of major mineral producers on the continent coming together to determine fair pricing for their commodities.

Recognising the establishment of the African Continental Free Trade Area, he urged African nations to deepen their relationships and consider that at least 30 per cent of the continent’s natural resources are within their purview.

Highlighting Ghana’s role as a significant gold producer, Mr Duker revealed that in 2021, Ghana accounted for approximately 22.2 per cent of the world’s total gold production. However, he issued a cautionary note, stating that if Africa fails to proceed cautiously, prosperity may elude the continent.

The Deputy Minister stressed the importance of ensuring that investors are not seen as mere exploiters, but rather as partners seeking mutually beneficial outcomes.

He emphasised the need for a “win-win” situation, where investors contribute to the growth of the mining industry while African countries derive substantial benefits from their resources.

The Egypt Mining Forum serves as a platform for thought-provoking discussions, enabling participants to explore ways to enhance Africa’s mining sector.

Deputy Minister Duker’s participation and his call for collaborative pricing strategies reflect the commitment of African nations to assert greater control over their mineral wealth.

As the seminar continues, attendees eagerly anticipate further insightful contributions that will pave the way for sustainable and equitable development in Africa’s mining industry.

Source: ClassFM

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