The Minerals Income Investment Fund (MIIF) has hosted its first-ever stakeholder engagement series with Civil Society Organisations and other stakeholders in the mining sector.
The gathering brought together a diverse spectrum of participants, including Civil Society Organisations (CSOs), government agencies, industry experts, and media representatives, to discuss the past, present, and future of Ghana’s burgeoning mining sector.
The primary purpose of this event was to acquaint the gathered stakeholders with MIIF, offering an in-depth overview of its establishment, performance, and its pivotal role in advancing the development of the mining industry.
However, this gathering transcended a mere presentation; it served as a vital two-way communication channel where participants could provide constructive critiques, share valuable insights, and engage in an open dialogue concerning MIIF and its various initiatives.
Speakers at the event, including Mireku Duker, Deputy Minister of Lands and Natural Resources, and Alhassan Andani, the former Managing Director of Stanbic, lauded the concept of MIIF, emphasising the urgent need for similar funds in sectors such as Cocoa and Timber to enhance value creation.
Collaboration was a recurring theme throughout the event, as Alhassan Andani underscored the importance of uniting forces with private, public, and civil society organisations to further enrich the success story of MIIF.
A high-powered panel discussion, featuring industry experts, underscored this need for collective efforts to ensure that the wealth generated from precious minerals is directed toward the nation’s prosperity.
Transparency and civil society involvement were also thrust into the spotlight.
Civil Society Organisations applauded MIIF’s commitment to transparency and stakeholder engagement, with special commendations for the recent publication of MIIF’s audited accounts for the 2021 and 2022 financial years.
These organisations stressed the critical role they play in safeguarding the interests of Ghana and expressed their dedication to maintaining an open channel of communication.
George Mireku Duker, the Deputy Minister of Lands and Natural Resources, delivered a keynote address, underscoring the vital importance of developing the mining sector’s value chain.
He emphasised that Ghana had yet to fully tap into the value of its centuries-old gold mining industry and urged the need to create local wealth, acquire knowledge, and boost employment through value chain development.
The Deputy Minister also highlighted government efforts to align laws to create opportunities for Ghanaians in the mining value chain, ensuring that a significant portion of the sector’s benefits remain within the country.
This MIIF Stakeholder Forum brought together over 90 participants from various sectors, including CSOs, the mining industry, the Ghana Stock Exchange, small-scale miners, and mining suppliers, actively engaging in discussions and planning for the future.
Established under the Minerals Income Investment Fund Act, 2018 (Act 978), MIIF has a three-pronged mandate: receiving royalties from minerals accruing to the government, investing those royalties to secure the country’s future wealth, and managing Ghana’s equity interest in large-scale mining firms.
MIIF has already made substantial investments, such as acquiring equity in Asante Gold Corporation and supporting the Lithium industry’s growth through a significant investment in Atlantic Lithium.
The inaugural MIIF Stakeholder Forum represents a pivotal moment in Ghana’s mining sector, marked by collaboration, transparency, and a shared vision for a brighter future through the strategic management of Ghana’s mineral wealth.
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