The Minerals and Mining (Local Content and Local Participation) Regulations, 2020 (L.I. 2431) came into force on 22 December 2020. The purpose of the Regulations among others is to:
(a). Promote job creation through the use of local expertise, goods and services, businesses and financing in the mining industry value chain and their retention in the country;
(b). Achieve the minimum local level and in-country spend for the provision of the goods and services in the mining industry value chain;
(c). Increase the capability and international competitiveness of domestic businesses;
(d). Create mining and mineral related support industries that will provide jobs and sustain economic development.
Pursuant to Regulation 7 of L.I. 243 1, the Commission is required to publish in the Gazette, the website of the Commission and a newspaper with nationwide circulation a local procurement list which stipulates the goods and services with Ghanaian content which are to be procured in the country.
Regulation 7(3) of L.I. 2431 further states that the Commission shall review the procurement list annually.
There are currently forty-one (41) items on the Procurement List which is the fourth edition and was published by the Minerals Commission in early 2022. The Commission commenced the implementation of the fourth edition in 2022.
The new list which is the fifth edition has fifty (50) items as set out below.
The implementation shall commence on I st January 2023.