Accra, July 8, GNA – The University of Mines and Technology (UMaT) has launched the Institute of Mineral Resource Investment and Governance (IMRIG) to strengthen research, policy development and capacity building in Ghana’s mining and extractive sector.
The institute will provide evidence-based analysis on mineral resource governance, investment frameworks and regulatory reforms in Ghana and across Africa, while supporting dialogue on sustainable development in the extractive industry.
Speaking at the launch in Accra, Mr Issac Tandoh, Chief Executive Officer of the Minerals Commission, described the establishment of IMRIG as a significant milestone, saying the challenges confronting the mining sector required rigorous analysis, evidence-based policy and multi-stakeholder dialogue to strengthen governance.
He said the Minerals Commission was strengthening the sector’s regulatory and fiscal framework through the Mineral Royalty Prices Schedule Regulations, as well as the review of the 2014 Minerals and Mining Policy and the Minerals and Mining Act, 2006 (Act 703), to address emerging challenges.
Mr Tandoh said the Mineral Royalty Prices model would enable the State to capture a greater share of revenue while maintaining a competitive investment environment when global prices of gold, lithium and other strategic minerals increased.
He pledged the Commission’s support for the institute, and urged it to provide Government with sound policy advice on issues affecting the mining sector.
“IMRIG is being established at a time when Ghana’s extractive sector is at a crossroad…We see IMRIG as part of the solution. We are not looking for an echo chamber. We are seeking a robust and constructive partner.
“We believe IMRIG has the potential to be a beacon of excellence, a centre of research that does not only serve Ghana, but also set a standard for the entire African continent,” he said.
Dr Frank Boateng, Acting Director of IMRIG, said the institute sought to become a premier centre of excellence in Africa for research-driven policy insights and capacity building in mineral resource governance.
He said its activities would include training programmes, quarterly stakeholder meetings, recruitment of research fellows, strategic communication and stakeholder engagement in collaboration with industry partners.
Dr Boateng appealed for institutional support to enable the institute to make a meaningful contribution towards addressing Ghana’s mineral resource governance challenges.
Professor R.K. Amankwah, Vice-Chancellor of UMaT, unveiled the institute’s founding fellows and urged them to deliver on its mandate.
The fellows are Dr Eric Asubonteng, Mr Joshua Mortoti, Dr Sulemanu Koney, Dr Ken Ashigbe, Dr Samuel Boakye Pobee, Mr Price Osisiadan and Mr Martin Kweku Ayisi.
The launch, held on the theme: “Bridging Investment and Governance for Sustainable Development,” brought together government officials, industry leaders, development partners, academics and civil society organisations for discussions on emerging challenges and opportunities in Ghana’s extractive sector.
GNA
Edited by Kenneth Sackey
Reporter: Ernest Nutsugah
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