The Chief Executive Officer of the Chamber of Mines has said despite challenges facing the mining sector in the country, it contributes more to the government revenue.
Sulemanu Koney said the contributions of mining companies in Ghana are in the form of tax payment and procurement of local goods which help to boost the economy.
In 2015 for instance, mining companies spent a total of $1.5 billion dollars on the procurement of local materials for their operations representing about 48% of total revenue.
This, according to him constitutes a significant contribution to the economy considering the recent challenges the mineral sector has been faced with.
Mr Koney made these remarks when he addressed a workshop on electrical cables standardization in the mining sector in held in Accra last week.
The workshop on Electric cables is organized in collaboration with the Minerals Commission, Association of Ghana Industries, Ghana Standards Authority (GSA) and Electrical Cable dealers.
The workshop which was held under the theme “Improving the supply of electrical cables from local manufacturers to the mining industry” formed part of stakeholder engagement by the Chamber.
It is also aimed at bringing together stakeholders in the mining industry to deliberate on ideas of dealing with challenges in the supply chain of electrical materials to the sector.
In an address, Suleimanu Koney hinted mining companies are complying with the local content procurement obligations.
The Head of marketing at Tropical Cables and Conductors Limited, a local electrical cable manufacturer and supplier to the mining sector told JOYBUSINESS his outfit is helping the mining companies to address the challenges encountered in production of materials.
Nana Kwame Oteng Gyasi expressed optimistism that the Chamber would be able to over the challenges in the sector.
The also unearth some quality and standards issues when it comes to the procurement of locally manufactured electric cables hence, the need for such a workshop.
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