New firm takes over Ghana Diamond Company, plans to invest over $100m in next 5 years
The Great Consolidated Diamond Ghana Limited (GCDGL), a Ghanaian owned company, on Tuesday took over the operations of the erstwhile Ghana Diamond Company (GDC) which was closed down in August 2007.
The GCDGL intends to establish an integrated diamond mining and diamond processing industry and is bringing on board a management team and consultants with in-depth expertise, knowledge and skills in business, finance and community development.
Vice President John Dramani Mahama, who launched the Company, said it was gratifying to know that the company would invest over $100 million in a five-year multi-phase programme to achieve its immediate objective of providing jobs for 2,000 workers and ultimately 50,000 people directly or indirectly.
He said the decision to diverse the GDC stemmed from the fact that the operations of the company proved to be unsustainable and as such could not pay its workers and its debtors.
The Vice President assured Ghanaians that the commencement of operations of the GCDGL was a strong attestation of government’s commitment to invest in its own people and create jobs which would have a rippling effect in alleviating poverty and improving the standard of living for a better Ghana.
He stressed the need for adding values to minerals produced in Ghana instead of exporting them in their raw state.
Mr Mahama gave the assurance that the Precious Minerals Marketing Company (PMMC) was setting up a Diamond Policy facility and offering opportunity to private companies to set up state of the art gold refinery.
He said he was convinced that the new company would exploit the mineral resources for the improvement of the economy and for the transformation of Akwatia into an industrial hub of the Eastern Region.
Mr Mahama was loudly applauded when he announced that government had recommended to Parliament the creation of a new district with its headquarters at Akwatia which would possibly be called Denkyembuo District.
He said he was appalled by the roads in the region and gave the assurance that those roads would be improved soon.
The roads were Suhum-Asamankese, Kade-New Abirim roads which would be resurfaced whereas Akroso-Oda and Oda-Akyem-Swedru roads would be rehabilitated.
He said those areas deserved improved roads since they were not only important for the mining areas but also noted for their agricultural production.
Dr Kwasi Akyem Apea-Kubi, Eastern Regional Minister, said it was gratifying that the new company was a full Ghanaian company and that the ceremony was therefore significant because it would encourage Ghanaian entrepreneurship and create employment for the teaming unemployed youth in the area and beyond.
He entreated the company to ensure that it absorbed all workers provided they had the strength, skills and capacity to work.
“These workers, most of whom came from the Kwaebibirem and adjoining districts, had suffered from hardship when the company was closed down”.
Mr Kwame Gyan, Board Chairman of the GCDGL, said the new Company’s mission was to transform the enterprise into a profitable mining and industrial concern of world class status to drive economic growth in communities in the area of operations.
He promised that the company would provide comprehensive plans to minimize any negative environmental impact on the communities in which it operated.
The chairman said mining activities would be expanded to produce one million karats of diamond per annum within five years of take over.
The new company would reclaim over 40,000 hectors of land and converge it into large tracts of farm lands for commercial farming involving plantation of citrus, oil palm and cocoa, live stock, forestation of reclaimed lands.
The small scale sector called tributary mining would also be accorded much attention by the company.
Mr Gyan said the tributary operations with the Akwatia area had been less vibrant due to inefficient operation and the folding up of GDC and that the new company planned to revamp and manage tributary mining in the area in an environmentally friendly way.
The miners would be provided with lands and machinery to help improve their operations to make it safe and efficient.
Osagyefo Amoatia Ofori-Pinyin, Okyehene, said Akwatia should by now be a modern city but it only had its wealth taken leading the township and its people improvised.
He asked the people not to expect too much now but to adopt a positive attitude and cooperate with the new company since they would soon derive immense benefits from them.
Source: GNA