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Ghana’s parliamentary committee raises issues over proposed Steel Corp

Steel News - Published on Wed, 15 May 2019

Image Source: GhanaWeb
Graphic reported that Ghana’s Parliamentary Select Committee on Mines and Energy has advised the government to ensure that the mandate of the proposed Ghana Iron and Steel Development Corporation does not conflict with that of the Minerals Commission as provided under Article 269 (1) of the 1992 Constitution. The committee raised issues over the inclusion of iron which was a mineral in its raw form and, therefore, fell under the mandate of the Minerals Commission. It, therefore, advised that the role of the proposed corporation should be restricted to the promotion of the commercial aspect of the industry and not the unprocessed mineral.

This was contained in the committee’s report on the Ghana Iron and Steel Development Corporation Bill, 2019, which seeks to establish a corporation that will develop and promote an integrated iron and steel industry.

The corporation will be required to collaborate with investors for the development of the integrated iron industry, ensure the development and implementation of a local content policy across a value chain in the industry and also ensure that the minimum total equity held by the State and the Ghanaian private sector in any joint venture in the industry is not less than 30 per cent of the total equity.

The corporation will also be empowered to enter into joint venture operations, ensure that minimum part of the equity as may be determined by law is held by the Ghanaian private sector and in collaboration with relevant government agencies.

It is also expected to establish a mechanism to ensure the requisite transfer of skills and know-how to Ghanaians in the iron and steel industry value chain.

Source :

Posted By : Rabi Wangkhem on Wed, 15 May 2019
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