Ghana is set to start mining iron ore by the end of 2022, this is according to the Board Chairman of the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), Farouk Aliu Mahama.
Speaking to JoyNews’ Samuel Kojo Brace, the Yendi legislator said ten companies are currently working to determine the total iron deposits in the country.
“Government alone cannot invest in this alone. The cost of doing MRA is very expensive and we’ve been able to do a block. And it takes a lot of investments. So through the direction of government, we’ve decided to do a private sector participation.
“It is a chain process but the first achievement we’ve done is to get big steel companies who have the capacity and who have understood that they are coming to do an investment of their own resources at their own risk at the block. So that at least we will have some activities based on the timeline that the President wants to see his achieved aim,” he said in the interview on The Pulse.
He further added, “They’ve started and as we speak they are on the verge of commencing and some of them are going to complete in the next six months and after that they will give us the report.”
Mr. Aliu Mahama also believed that such exploitation will help realise government’s vision of manufacturing steel and related products in Ghana.
Which will in turn, reduce steel products manufactured in the country.
Meanwhile, the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has embarked on a stakeholder engagement tour in various iron ore host communities.
It forms part of efforts to promote a mutually beneficial relationship between GIISDEC, and critical stakeholders, potential investors and host communities.