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The flagbearer of the New Patriotic Party (NPP), Dr. Bawumia disclosed that he will set up a minerals development bank if he wins the 2024 general elections.
According to him, this will provide financial support for Ghanaians in the mining and natural resources sector.
Speaking at the 3rd Annual Transformational Dialogue on Small Scale Mining in Ghana at the University of Energy and Natural Resources in the Bono Region, Dr. Bawumia said the practice of foreign mining companies exporting all their earnings will end when the policy is implemented.
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But Alan Kyerematen disagreed and described his policy as misleading and amounts to populist propaganda.
He emphasized that according to Article 257 (6) of the 1992 Constitution, minerals in their natural state within Ghana and its territorial waters are already owned by the citizens, as they are vested in the President on behalf of the Ghanaian people.
This ownership extends to both solid and liquid minerals, with distinct laws governing their access and management, he added.
He noted that "So, Ghanaians already own 100% of their mineral resources by law. The impression being created by the Vice President that he will make Ghanaians own 100% of their natural resources is misleading and amounts to populist propaganda."