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GNPC owned Sankofa mines defaults in tax payments

GNPC

Citi Business News has learnt mining company Prestea Sankofa Limited in 2012 and 2013 failed to pay mineral royalties to Ghana estimated at 6.6 million cedis. This was contained in the Ghana Extractive Industries Transparency Initiative (GHIETI) report on the mining sector for 2012 and 2013. According to the GHIETI report, Prestea Sankofa in 2012 /2013 generated 133, 595,760 cedis ...

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Newmont and Ghana Mineworkers Union resume negotiations

newmont-mining-co-logo

Newmont Ghana and the Ghana Mineworkers Union (GMWU) today March,19,2015 announced they have resumed negotiations on their salary and collective agreements. The parties’ decision to return to the negotiating table follows the GMWU’s recent threat to strike and the company’s subsequent appeal to resume good-faith dialogue. “We recognise that embarking on a strike will not be in the best interest ...

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Newmont urges workers to abandon strike plans

newmont-mining-co-logo

Mining giant Newmont has urged its workers to abandon plans to go on strike over poor conditions of service. Over two thousand workers of Newmont have threatened to strike on Friday,March, 20th, 2015 if a meaningful response from the mining firm on ongoing negotiations is not received. Negotiations for better pay between the two have been ongoing for over eight ...

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Newmont workers threaten to strike over stalled negotiations

newmont-mining-co-logo

Over two thousand workers of mining giant Newmont have threatened to strike on Friday if a meaningful response from the mining firm on ongoing negotiations is not received. Negotiations for better pay between the two have been ongoing for over eight months. The miners want the huge disparity in pay levels in the industry to be addressed. They are also ...

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Kwame Addo-Kufuor moves to Newmont

Newmont Ghana

Citi Business News can confirm that the former Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has moved to another mining firm, Newmont. According to a statement from Newmont, Kwame Addo – Kufuor has been appointed as the Regional Chief Financial Officer for Newmont Africa. ‘Newmont Africa has announced the appointment of Kwame Addo-Kufuor to its Africa ...

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Kwame Addo Kufuor leaves AngloGold

AngloGold-Ashanti-Logo

Citi Business News can confirm the Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has resigned. It is unclear where he will be heading to but a statement from the mining giant said Kwame Addo-Kufuor has moved on to pursue other interests. Kwame Addo-Kufuor has been with AngloGold for 18 years. In his absence Fred Attakumah, Managing ...

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Ministry of Lands seeking amendment to mining law

galamsey

The Ministry of Lands and Natural Resources is seeking to amend the existing mining law governing natural resource in the country. In view of this, the bill has already been sent to Parliament and has gone through first reading. Once passed, the law will criminalize activities of illegal small scale mining leading to arrest and prosecution. It will also allow ...

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Change policies on expatriate recruitment, miners plead

minig

The Ghana Mineworkers’ Union (GMWU) wants mining policies regarding expatriate recruitment, skills shortage and income in the mining industry reviewed. It believes the review must be addressed by all players including the Chamber of Mines and the Minerals Commission. The Union had earlier called on government and mining companies operating in the country to establish fair, equitable and transparent job ...

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Gold prices to increase this year-Minerals Commission

Dr.Tony Aubynn,  Minerals Commission Boss

The price of gold is expected to increase this year on the global market. This is according to the Minerals Commission. The price of gold has been declining on the world market for over three years. The decline hit hard Ghana’s revenue base which relies heavily on gold proceeds. The plunge in gold prices also led to mining companies such ...

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10 Biggest corporate movements in 2014: Part 1

corporte

Corporate Ghana every year witnesses some interesting movements be it resignations, dismissals or what have you. These movements usually make or break the companies or institutions. In 2013 for example the banking industry witnessed the appointment of four women as bank managers of four banks in the country. The move solidified Ghana’s slow but growing grip on Ghana’s banking industry ...

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Citi Business News