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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


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


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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Newmont to comply with Ahafo mine accident findings


Newmont Ghana Limited says it will address all findings outlined in the investigative committee’s report on its Ahafo mine expansion project. According to the company’s Regional Senior Vice President for Newmont Africa, Alwyn Pretorius, the firm will work to prevent the incident from happening again. “We are all devastated by the loss of six colleagues and will carefully study the ...

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Newmont, others fined $ 2.7m over Ahafo mines accident


A committee set up by the Ministry of Lands and Natural Resources to investigate the Ahafo Mines accident which left six people dead and four others injured has directed that Newmont Ghana Gold Limited be fined US$500,000 for negligence. The company will also been fined US$10,000 for failing to ensure that DRA Company Limited, the company it contracted to supervise ...

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Gold production increase by 10.2% in 2017

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Ghana’s gold output rose to 2.805 million ounces in 2017, up 10.2 percent from the previous year, data from the Ghana Chamber of Mines has indicated. The growth reflected a general increase in output across most of the 12 mining firms operating in the country, the chamber said. Total gold revenues amounted to $3.52 billion in 2017, up from $3.25 ...

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Pambros Salt Company to lay off workers due to encroachers


Salt manufacturing company, Pambros, has served a strong notice that it may be forced to lay off about half of its workers should activities of encroachers on its properties go unresolved. The company is thus seeking an intervention from the government to help them deal with issues. The concerns follow a working visit by the Minister for Environment, Science, Technology ...

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AngloGold South Africa to cut 2,000 jobs

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South African gold miner AngloGold Ashanti plans to cut 2,000 jobs at its domestic operations, it said on Wednesday, as part of plans to cut costs. AngloGold employs roughly 8,200 people in South Africa, where mining companies have had to deal with the risk of volatile labour relations, rising costs, regulatory disruptions and technical issues. “The restructuring will affect employees ...

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