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30% of gold to be refined locally – Amewu

Minister of Lands & Natural Resources, John Peter Amewu

The government is working to ensure that 30 percent of gold mined in Ghana is refined locally. The Minister of Lands and Natural Resources, John Peter Amewu said an agreement to implement this new policy direction would be concluded by November. “In the gold industry, plans are far advanced to start refining 30 percent of gold [locally]. I am sure ...

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Anglogold Ashanti appoints new CEO

Kelvin Dushnisky

Anglogold Ashanti has appointed Kelvin Dushnisky as the CEO and Executive Director of the company. His appointment takes effect from September 1st 2018. He replaces Srinivasan Venkatakrishnan who will be exiting the company by the end of August. Mr.  Dushnisky joins Anglogold Ashanti from Barrick Gold Corporation where he serves as the President and Executive Director. A statement from Chairman ...

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Kosmos Energy ruling won’t affect Ghana operations—Tullow Oil

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Tullow Oil has told Citi Business News its performance this year will not be affected despite the outcome of the court case brought against it by Kosmos Energy. Tullow says although they find the ruling very disappointing, their expenditure share will not be affected by it. “It won’t have any effect on that part of our business. This is a ...

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International bodies mount pressure on govt to lift ban on mining

John Peter Amewu, Minister for Lands and Natural Resources

Some international bodies are mounting pressure on government to lift the ban on all small scale mining activities to allow legally registered companies to operate. According to international organization, PACT, the ban is causing legally registered small scale mining companies to lose millions of cedis invested in their operations as well as millions of job loss. PACT also maintains that ...

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Producer Price Inflation for May increases to 7.1%

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The Producer Price Inflation (PPI) for May 2018 has increased to 7.1 percent. This was up by 0.7 percent compared to the 6.4 percent recorded in April. The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services. Speaking to journalists, Government Statistician Mr. Baah Wadieh explained that the ...

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$259m tax waiver: AngloGold moves to revamp Obuasi mine

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AngloGold Ashanti has welcomed the tax waiver granted by Parliament paving the way for it to redevelop its Obuasi mine. The mining company believes the move will lead to increased production from the mine site for at least the next twenty years. Parliament, on Thursday, granted 259 million dollars in tax waivers to Anglogold Ashanti following a request by the ...

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Mine workers wade into $259m tax waiver for Anglogold

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The Ghana Mine Workers’ Union is cautioning against agreements that may impact adversely on the country’s mining sector and erode gains so far made. The concern follows the tax concession granted Anglogold Ashanti as it revamps its Obuasi mine. Parliament has approved 259 million dollars tax concession to the mining company. But according to the Minority Spokesperson on Finance, Cassiel ...

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Oil refiners in Africa push for uniform pricing

Refinery-in-Nigeria

The African Refiners Association (ARA) has initiated steps to ensure a uniform pricing of fuel products in the West African region. According to the Association, the increasing smuggling of fuel products with low standards is the cause of disparities in prices across the region. Ghana lost some 200 million dollars in two years while its counterpart, Nigeria is said to ...

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Gold Fields headlines WAMPEX 2018

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As Gold Fields celebrates its 25 years of operating in Ghana, the company headlined this year’s West Africa Mining and Power Expo (WAMPEX 2018), a major forum that attracted over 1,400 mining and power industry professionals, as well as companies from more than 16 countries. Held at the Accra International Conference Centre, this year’s event was on the theme: “A ...

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Prosecute officials involved in Newmont Ahafo mine accident

Mineworkers in Ghana

The Ghana Mine Workers Union has stated that it would have preferred prosecution of persons involved in the Newmont Ahafo mines accident that claimed six lives and injured four people, in addition to the fines imposed on the companies. Even though the union described the fines imposed on the companies as encouraging, it however argued that the culprits should have ...

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