The Ghana Chamber of Mines (GCM) recently launched a five-year Tertiary Education Fund (TEF) to support the development of Ghanaian human resources and skills in the mining industry, particularly the University of Mines and Technology (UMaT).

The fund will be resourced with $400,000 annual contribution from producing member companies for five years, $3,000 contribution from contract companies and $2,000 from manufacturing member companies annually for five years.

According to Eric Asubonteng, President of GCM, the fund will help to keep the country’s mining industry on an upward trajectory and provide highly qualified and technically astute professionals.

“It is well recognised that any successful economic development strategy must focus on improving the skills of the area’s workforce, reducing the cost of doing business and making available the resources business need to compete and thrive in today’s global economy.

“As a chamber, we see significant value in collaboration with all stakeholders constructively to deliver on initiatives that bring development and progress to our host communities, our country and assures investors of a viable and secure outcome for their investment,” he noted.

The Chief Executive Officer of GCM, Sulemanu Koney, indicated that the Chamber of Mines TEF initiative was borne out of many years of practical partnerships between the chamber and the tertiary institutions in Ghana, with particular reference to UMaT.

The occasion also saw the swearing into office of the TEF board members. Chaired by Mr. Stephen Ndede, members include Michiel Vander Merwe, Joshua Mortoti, Ken Ewuntomah and Irene Yeboah.

Others are Akwasi Amoako-Kankam, Lawrencia Awuah and Prof. S. Y. Kuma and Associate Prof. Grace Ofori Sarpong – two representatives from UMaT.