Director of the Institute of Statistical, Social and Economic Research, ISSER, Prof. Peter Quartey has advocated stricter regulations in Ghana’s gold mining rather than an outright ban.
He said sustainable practices are essential to balancing economic and environmental concerns.
With gold contributing 50 and 57.6 per cent to Ghana’s export earnings in the first and second quarters of 2024, Professor Quartey highlighted its critical role in the economy, especially from small-scale miners.
He called on policymakers to institute measures to curb illegal mining and protect natural resources, whilst preserving vital revenue.
Professor Quartey expressed concerns as Ghana’s cocoa export earnings dropped by 10.2 per cent due to the escalating impact of illegal mining activities.
He cautioned that Ghana’s reliance on primary commodities, including gold, exposes the economy to vulnerabilities from international market fluctuations.
