Partnerships with global mining stakeholders are vital for Africa to formalize its artisanal and small-scale mining (ASM) sector, said Kwaku Nsiah-Asare, CEO of Ghana-based gold mining firm Typhoon Greenfield Development.

Speaking at African Mining Week 2025 on Thursday, Nsiah-Asare stressed that cooperation with global institutions as well as regional governments, the private sector and local communities is the best path toward formalization.

“Global and regional cooperation allows for inclusive regulation, affordable compliance, access to finance and equipment and smooth integration of ASM into the formal market,” he said.

He noted that Ghana’s ASM sector employs more than one million people - making formalization not just important, but essential.

“Formalization of the ASM industry is a must, not an alternative. Although tough, it is possible with partnerships,” Nsiah-Asare added.

Highlighting practical examples, he pointed to Ghana’s work with the World Bank and World Gold Council, as well as Typhoon’s partnerships with Rand Refinery, TDI Sustainability, MKS PAMP and the Development Gold International to align with national and global standards.

“Typhoon is proof that ASM can meet international standards. We employ 70% of our workforce from local communities, have reclaimed 180 acres of land from illegal miners and planted 15,000 trees,” he said.