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Aker Energy quickens process to start oil drilling in 2021

CEO of Aker Energy - Jan Arve Haugan

Norwegian oil company, Aker Energy, has disclosed to Citi Business News it is hoping to start its oil exploration activities in Ghana by the end of 2021. The company explains that it is working to complete the necessary processes to get clearance from the government to start operations. The CEO of Aker, Jan Arve Haugan outlined the company’s investment plans ...

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ECG will go back to PURC if it make losses


The Managing Director of the Electricity Company of Ghana(ECG), Samuel Boakye-Appiah has given the strongest indication that the power distributing company will not hesitate to go back to the Public Utilities Regulatory Commission(PURC) if the if the implementation of the tariff reduction leads to losses. He stated that even though the ECG was expecting an increase in the tariff, the ...

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ECG tariff reduction to reflect in bills by 1st April

Samuel Boakye-Appiah - MD,ECG

Consumers of electricity should expect the reduction in tariffs from April and not from tomorrow[15th March,2018] as announced by the Public Utilities Regulatory Commission (PURC). This is because the Electricity Company of Ghana (ECG) explains that the implementation cannot reflect on the bills of consumers due to the monthly cycle billing system it uses. The PURC, last week announced that ...

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Parliament to conclude report on Goldfields by end of March


Chairman of the Mines and Energy Committee of Parliament, Emmanuel Akwasi Gyamfi has told Citi Business News the committee will present its report findings on Goldfields to Parliament before it goes on recess. According to him, the committee has engaged the various stakeholders and is in the process of wrapping up their findings to be presented before the House. “Mr. ...

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Layoffs at Goldfields will impact mining sector adversely – Dr. Yao Graham


The Third World Network is predicting a drastic change in large scale mining in Ghana if Goldfields Ghana’s new mining plan is allowed to sail through. According to the Coordinator for the Third World Network, Dr. Yao Graham, this is also likely to impact the revenue from the mining sector going forward. Goldfields Ghana Limited has announced that it is ...

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Goldfields workers demonstrate against contract termination

gold-crop use

Workers of Goldfields Ghana Limited at the Tarkwa mine today (March 12,2018) embarked on a demonstration over what they say is the termination of their contract by management of the company. This, was after an Accra High Court dismissed an injunction application filed by the Ghana Mine Workers Union to stop Goldfields from switching to contract mining. The union argued that about ...

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Reduced tariffs: Mining firms to save 3 million dollars annually


Businesses particularly those in the mining sector, are expected to save millions of dollars to be channeled into other investments to grow their companies following the reduction in electricity tariffs. The Public Utilities Regulatory Commission (PURC), on Monday, March 5, 2018, announced that electricity tariffs will go down between 10 and 30 percent for various categories of consumers. The decision ...

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1D1F companies to benefit from cheap funds

Gifty Ohene Konadu

Government is still in talks with banks in the country, to arrive at a common interest rate for all companies under the One District One Factory Program. That’s according to the National Coordinator for the One-District-One-Factory (1D1F) Secretariat, Gifty Ohene Konadu. So far GCB, Access Bank, UMB and the Ghana Import and Export Bank (EXIM), have signed up to support ...

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Chamber of Mines hits Mineworkers Union over AngloGold Ashanti contract mining


The Ghana Chamber of Mines has described as untenable demands by the Mine Workers Union for AngloGold Ashanti to use owner mining in its redevelopment of the Obuasi Mine. AngloGold Ashanti recently announced that it is set to redevelop its Obuasi Mine at a cost of over 500 million dollars. The company also indicated that it will use contract mining ...

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Mine Workers Union appeals Goldfields Ghana lay off case

file photo

The Ghana Mine Workers Union has appealed a ruling by an Accra High Court dismissing an injunction application filed by some workers of Goldfields Company Limited over the dismissal of 1,500 workers of the company. According to the union, the judge overlooked essential procedural issues they raised. “So virtually we disagree with the ruling and for that matter it has ...

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