The government’s ban on small scale mining in its bid to clamp down on illegal mining has thus far resulted in the industry losing over $500million.

This is according to the Small Scale Mining Association and it covers the nine-month period since the inception of the ban.

Government imposed a six-month ban on all forms of small-scale mining in a bid to clamp down on the destructive activities of illegal miners.

The ban which was expected to be lifted by the end of October this year was extended for three more months prompting protest by the Small Scale Miners Association.

Speaking to Starr Business the General Secretary of the Association Godwin Armah apart from the ban causing them to lose huge sums of money it has affected “those within the supply chain of mining.”

He added “it is something that you have staff that you need to pay while they are not working and then the cost even retaining and starting again is really on the higher side. A lot of us have lost our investments, businesses and some the interest on their investments has also gone up. So, it is having a really bad effect on our businesses.”

Meanwhile, the Land and Natural Resources Minister, John Peter Amewu, hinted last month that the ban may be lifted by the end of January 2018.

Government imposed a six-month ban on all forms of small-scale mining in a bid to clamp down on the destructive activities of illegal miners.

That he said will be done after the auditing exercise of the current small scale mining licenses are completed and a recommendation made to cabinet for the ban to be lifted.

“…Definitely we going to recommend to cabinet approval for [the lifting] of the ban,” he assured in an interview with Accra based Joy FM.