Dr. Mahamadu Bawumia, the NPP flagbearer, has announced intentions to create a minerals development bank if elected president in the upcoming December elections.
The aim is to provide funding for mining projects within the country. Speaking at the 3rd Annual Transformational Dialogue on Small Scale Mining at the University of Energy and Natural Resources in the Bono Region, Dr. Bawumia emphasized that this initiative would put an end to the practice of foreign mining companies exporting all their earnings.
He outlined plans to collaborate with relevant state institutions such as MIIF, PMMC, the Bank of Ghana, the private sector, and others to establish the minerals development bank.
This bank would finance viable local mineral projects and reduce reliance on foreign financing, thus curbing smuggling of the produce afterward.
