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Mining

Minerals Commission debunks TWN allegation against Goldfields

Chief Executive Officer of the Minerals Commission”, Dr. Toni Aubynn

The Minerals Commission has debunked allegation made by Civil Society Group, Third World Network (TWN) that Goldfield Ghana Limited was granted a development agreement without an investment plan. The Commission told Citi Business News government followed all laid down procedures in granting the mining firm a development agreement. According to the commission, the development agreement would not have been approved ...

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Goldfields hits back at TWN; describes allegation as untrue

Goldfields

Goldfields Ghana Limited has described as untrue a publication by Third World Network that the mining company has been granted a development agreement without an investment plan. According to the company, it has planned to invest in excess of one billion dollars in two of its mines in Tarkwa and Damang. The reaction comes at a time that a civil ...

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TWN presses Goldfields to publish investment plan

Coordinator of the Third World Network Dr. Yao Graham

The Third World Network (TWN) is challenging mining firm Goldfields Ghana Limited to publicly disclose fully its investments plan for the new development agreement it secured from government. According to TWN, development agreements are for future investment of not less than 500 million dollars which should be justified with a business plan. The call comes after Third World Network described ...

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Goldfields’ agreement with government illegal – Third World Network

Goldfields

The Third World Network has described as illegal the development agreement between the government of Ghana and Goldfields Ghana Limited. According to the Network, Parliament’s waving of a notice period and ratifying the development agreement raises questions which need to be answered. The government of Ghana through Parliament agreed to a new development agreement with Goldfields Ghana limited which according ...

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Goldfields re-engages 400 sacked workers

Gold+Fields+Driefontein

Goldfields has re-engaged workers who were laid off at its Damang mine. The company tells Citi Business News it has been able to transfer the about 400 workers who had to be laid off following impacts of developments within the mining industry. The Chief Executive Officer and Executive Director of Gold Fields, Nick Holland in an interview with Citi Business ...

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Minerals Commission predict gold price will end 2016 at $1,300

Gold

The Minerals Commission has predicted the price of gold is likely to hit $1,300 an ounce by the end of 2016. According to the Commission the figure will be good for Ghana, which depends largely on the revenue earned from gold export for development. Ghana’s commodity driven economy has been hit hard by the fall in the price of gold ...

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Govt implores mining firms to halt layoff plans for 2016

Mineworkers in Ghana

Government has begun negotiations with mining companies in the country to halt any move to lay off workers this year over fallen gold prices. According to the Ministry of Lands and Natural Resources, government is putting in place measures to cushion mining companies from the price plunge. Most mining companies in Ghana last year, began massive downsizing of their operations, ...

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Govt grants GoldFields Ghana tax and royalty concessions

mining

Government has granted tax and royalty concessions to mining firm Gold Fields Ghana Limited. This is part of the stability agreement reached after three year talks with the government to ease its tax burden on Gold Fields. The mining industry, is currently reeling under threats of increased resource rent tax and excessive demands to provide basic infrastructure in mining communities ...

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End invasion of Anglogold’s concessions: Minerals Commission to Small Scale miners

Illegal mining in Ghana

The Minerals Commission is appealing to Artisanal and Small Scale Mining members who continue to occupy AngloGold Ashanti’s Obuasi concession to end their invasion. This comes after AngloGold Ashanti Ghana Limited successfully completed the process of surrendering 60% of the Obuasi concession to government. AngloGold Ashanti continues to complain about an invasion of its mine by illegal miners leading to ...

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Gold Smuggling : Minerals Commission to punish culprits

Dr. Tony Aubynn- CEO, Minerals Commission

The Minerals Commission has served notice to deal with any person or companies found culpable in smuggling gold out of Ghana. According to the Commission, the country stands to lose huge revenue as long as smuggling continues. The Commission’s warning comes after the country lost an average of 1.925 billion dollars from the smuggling of gold to India over the ...

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Ghana Business News