Ghana Consolidated Diamonds bounces back

Thursday August, 18, 2011
By Edmund Mingle
The Management of the Great Consolidated Diamonds Ghana Limited (GCDGL) the company that won the bid to take over the affairs of Ghana Consolidated Diamonds (GCD) Limited at Akwatia in the Eastern region, says it is to deliver on its promise of revamping the company for the benefit of the nation.
According to the management, it is adequately prepared to operationalize its multi-dimensional strategy to revive the fortunes of the company which was once the main economic pillar in the region.
“We are ready for the task”, the management said.
GCDGL, will on August 23, officially commence mining operations after winning the take-over bid in which over 18 mining firms contested. GCD went under in 2007, leaving over 800 workers jobless.
The planned revival of the nation's only large scale diamond mine, it is in government’s ambition to revamp the diamond industry to contribute to the nation’s economic growth and advancement.
Describing the bidding for the collapsed company as a challenging venture, the management indicated in a statement, however noted that the outcome demonstrates the government’s confidence in Ghanaian firms to deliver when given the opportunity.
“We will endeavour to deliver on the trust imposed in us to justify the support being given to local firms to participate in the mining industry,” it said.
Apart from the main operations, he said the company has developed a comprehensive plan to ensure that sustainable employment was provided for the host communities.
Like many West African countries, Ghana has diamond resources, but it has yet to become a major producer. In 2009 the country produced 376,371 carats of rough diamonds with a total value of just under $7 million, representing a major decline in diamond production volumes in the country.
The traditional leaders of Akwatia and its surrounding areas have welcomed the new company, describing the commencement of operations as a lease of life for the area.
In a joint statement, the chiefs hoped the restart of operations of the mine would help in saving the local economy from total collapse.
“Ever since Ghana Consolidated Diamond (GCD) Limited closed down its operation in August, leading to the severance of almost a thousand workers, who, while in employment, kept the small town of Akwatia alive and functional the township of Akwatia is steadily and gradually becoming a ghost town hanging on critical life support in need of an urgent new lease of life.
“It is our prayer that the youth and people of Akwatia and the entire country will take advantage of the commencement of the operations of GCDGL to offers the opportunity related; direct and indirect services in other to contribute to socio economic development of the communities in particular and the country in general
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