The Ministry of Trade, Agribusiness and Industry is set to hold discussions with scrap metal exporters as it weighs the possibility of mandating the sale of a portion of non-ferrous scrap to local processors.
This move follows a strong push by Recyclers Ghana Limited for a ban on the export of non-ferrous scrap metals.
Director of Recyclers Ghana Limited, Manesh Kumar Jangir disclosed that the company is currently operating below capacity.
He noted that the continued export of raw non-ferrous scrap metal is resulting in an estimated $250 million in potential foreign exchange earnings lost annually.
Manesh Kumar Jangir stressed that increasing the company’s operational capacity would be beneficial, not only in boosting revenue but also in creating more employment opportunities.
Speaking to the media after a working visit to the company, Deputy Minister for Trade, Agribusiness and Industry, Sampson Ahi, said the Ministry will consult industry stakeholders to explore options that ensure sustainable supply for local recyclers, including the potential allocation of a percentage of scrap for domestic processing.
“If you look at the capacity of the factory as against the amount of raw materials they get in processing, definitely there is a deficit. There is a shortfall and that is why they are calling on the government to do something about the export of the scraps and so on and so forth. We will look at it. There are people who are also into that export and I have arranged a meeting on Monday where we are going to meet with them and the exporters.
“At that meeting, I am sure we will discuss and find out whether or not they cannot sell some percentage of whatever they want to export outside to the local factories so they can process it here. This is something we will take up but we want to sit down on the table and discuss with the other parties and find a better way to resolve this problem,” the deputy minister said.
