In his opening remarks on Tuesday 7 July 2015 in the Ghanaian capital at the preparatory meeting for this regional event, Prof. Banoeng-Yakubu called on members of the ECOMOF 2015 organising committee to carefully examine the work programme submitted for their consideration.

For four days, committee members will adopt the report of their previous meeting and finalise the schedule of activities already carried out, alongside planning for the remaining tasks yet to be completed. They will also prepare the communication and marketing plan designed to raise the event’s awareness at national, regional and international level.

The theme of the first ECOWAS Mining and Oil Forum (ECOMOF 2015) will be «Harnessing West Africa’s mining and oil resources through regional cooperation». It will be graced by mining sector Ministers and public and private decision-makers operating in the Community’s mining and oil industry.

ECOMOF 2015 will involve interactive workshops, training sessions, plenary sessions, trade shows, country presentations, visits to industries as well as round tables aimed at highlighting and promoting the development of mining and oil resources in West Africa.

The ECOWAS Mining and Oil Forum (ECOMOF) was institutionalized by the Authority of Heads of State and Government on the proposal of the ECOWAS Council of Ministers, and recommendation of ECOWAS Member States’ Ministers of Mining Resources.

It aims, inter alia, at enhancing the Community’s mining and oil potentials, promoting regional socio-economic integration, developing artisanal and small-scale mining and creating geological, mining and oil databases in ECOWAS Member States.

Ghana was chosen to host the first edition of the Forum owing to its huge contribution to the harmonisation of ECOWAS mining policies and programmes, coupled with its long mining experience.

In 2013, Ghana was the world’s ninth largest producer of gold and bauxite, a fact that consequently endowed the country with a good data coverage as a result of its aerial surveys. It also boasts considerable reserves of iron ore, bauxite and iron, minerals besides rock salt, chlorine and caustic soda, as well as industrial minerals. What is more, the country recently acquired the largest gold refinery in West Africa.

Regarding the mining sector, Ghana has an attractive legal and fiscal regime consistent with international best practices, as well as a stable regulatory environment that ensures transparent and fair treatment of the sector’s investors and operators.

The various legal and regulatory regimes introduced into the sector, for instance the Ghana Petroleum Revenue Management Act, draw on international best practices from other oil-producing countries, with emphasis on oil revenue collection and distribution mechanisms.