Accra: The University of Mines and Technology (UMaT) has launched the Institute of Mineral Resource Investment and Governance (IMRIG) to strengthen research, policy development, and capacity building in Ghana's mining and extractive sector.
According to Ghana News Agency, the institute will provide evidence-based analysis on mineral resource governance, investment frameworks, and regulatory reforms in Ghana and across Africa, while supporting dialogue on sustainable development in the extractive industry. Speaking at the launch in Accra, Mr. Issac Tandoh, Chief Executive Officer of the Minerals Commission, described the establishment of IMRIG as a significant milestone, saying the challenges confronting the mining sector required rigorous analysis, evidence-based policy, and multi-stakeholder dialogue to strengthen governance.
He stated that the Minerals Commission was enhancing the sector's regulatory and fiscal framework through the Mineral Royalty Prices Schedule Regulations, as well as reviewing the 2014 Minerals and Mining Policy and the Minerals and Mining Act, 2006 (Act 703), to address emerging challenges. Mr. Tandoh explained that the Mineral Royalty Prices model would enable the State to capture a greater share of revenue while maintaining a competitive investment environment when global prices of gold, lithium, and other strategic minerals increased.
Additionally, Mr. Tandoh pledged the Commission's support for the institute and urged it to provide the Government with sound policy advice on issues affecting the mining sector. He emphasized that IMRIG is being established at a critical time for Ghana's extractive sector, noting its potential to be a beacon of excellence, not only serving Ghana but setting a standard for the entire African continent.
Dr. Frank Boateng, Acting Director of IMRIG, highlighted the institute's goal to become a premier center of excellence in Africa for research-driven policy insights and capacity building in mineral resource governance. He outlined its activities, including training programs, quarterly stakeholder meetings, recruitment of research fellows, and strategic communication and stakeholder engagement in collaboration with industry partners.
Dr. Boateng appealed for institutional support to enable the institute to make a meaningful contribution towards addressing Ghana's mineral resource governance challenges. Meanwhile, Professor R.K. Amankwah, Vice-Chancellor of UMaT, unveiled the institute's founding fellows and urged them to deliver on its mandate.
The launch, themed 'Bridging Investment and Governance for Sustainable Development,' gathered government officials, industry leaders, development partners, academics, and civil society organizations to discuss emerging challenges and opportunities in Ghana's extractive sector.