Kodjo Adams, GNA
Accra, May 31, GNA - Mr John Peter Amewu, Minister of Lands and Natural Resources said government in collaboration with stakeholders would come out with a solid refinery policy to set the targets and directions of the country’s strategic mining agenda.
The Minister said even though the country had a good regulatory framework in terms of the mining policy that directed and determined the approaches to extract gold, the processes and its implementation was not the best and needed to be looked at.
He said this in Accra when a team of entourage including his two Deputies: Mr Benito Owusu Bio and Madam Barbara Oteng Gyasi visited the Gold Coast Refinery in Airport to familiarise with the operations of the company.
The 110 million-dollar Gold Coast Refinery was established by the Banking and Financial Services, Euroget Group of Investors from Egypt and local shareholders with the capacity to refine raw dust and scrap gold.
The Minister noted that the country was losing more revenue from raw gold, and that the establishment of the refinery would help to add value to the products to be competitive in the international market economy.
He said the refinery would also deepen the relations between Ghana and Egypt which started many decades ago.
He said the establishment would complement government's policy on value addition to the country’s raw materials and export diversification programme.
Dr Said Deraz, the Chief Executive Officer of Euroget Group said the refinery had the capacity of 180 metric tonnes per annum in a single shift production, first of its kind in West Africa and second largest in Africa.
Dr Deraz said the refinery, which commenced full operation in December, produces 600 kilogrammes per shift of eight hours and provides 300 direct and 1,200 indirect jobs.