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Mining

Refineries threaten boycott of Ghana gold over galamsey

File Photo

Ghana risks a boycott of its gold by major refineries across the globe if it fails to tackle illegal mining activities in the short term. This is the caution from industry players. According to them, the country also risks huge revenue losses from small scale mining which accounts for about thirty percent of the total gold output. “We risk losing ...

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Govt regularizes galamsey to curb the menace in 5 years

Minister of Lands & Natural Resources, John Peter Amewu

Government has launched a new project aimed at curbing illegal mining activities in the country at least within the next five years. To this end, it has commenced a multi-lateral mining integrated project which will regulate the activities of illegal miners and reduce the impact of destruction to the environment. The project among others seeks to regulate the activities of ...

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Ghanaians fronting for foreign companies to face punitive action- Amewu

Amewu

The Minister for Lands and Natural Resources, John Peter Amewu has hinted to Citi Business News government may relook  the laws governing local content participation in the mining sector to prevent instances of locals fronting for foreign companies. According to him, even though the practice is different under the oil and gas industry, the situation is dire in the mining ...

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Minerals Commission predicts 3% increase in gold production

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

The Minerals Commission is projecting an increase of about 3% in gold production by the second quarter of this year. The commission attributes this to the uncertainties of the policy direction exhibited by the U.S President, Donald Trump– which is expected to positively impact gold prices. “There is a certain level of bullishness in the gold price which is good ...

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Chamber of Mines bemoans low investment in mining communities

Some members of the Chamber of Mines with the Minister of Lands and Natural Resource, John Peter Amewu

The Ghana Chamber Mines has bemoaned the proportion of funds that is injected into mining communities for development. According to the chamber, the phenomenon is the result of poor infrastructure development in mining communities, despite their contribution to the national income. Speaking to Citi Business News, the president of the chamber, Mr. Kwame Addo-Kufuor described the situation as disappointing, since ...

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Developing Western region: Minister Nominee to demand specific allocation

Dr Kwaku Afriyie - Western Regional Minister Nominee

The Western Regional Minister Nominee, Dr. Kwaku Afriyie has disclosed plans to push for legislations to back specific allocation of revenue from the country’s mineral resources to the development of the region. He contends that the region’s contribution to GDP from its enormous resources undeniably places in a critical position to merit specific developmental support. Though Dr. Afriyie admits that ...

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Brexit, Trump policies to drive China to Ghana’s gold mines

Gold

China’s decision to seek investment options in Africa and Latin America will lead to the massive growth highly expected of Ghana’s mining sector this year. The development will come on the back of the high levels of uncertainties associated with the administration of US President Donald Trump and the decision by Britain to leave the European Union (EU). The Asian ...

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Govt to revive AngloGold Obuasi Mines- Pres. Akufo-Addo

Prez Nana Addo

President Nana Addo Dankwa Akufo-Addo has announced that international mining firm, Randgold Resources has renewed its interest to partner AngloGold Ashanti to commence operations in its Obuasi mines. The company pulled out of a joint venture with AngloGold Ashanti to redevelop AngloGold’s Obuasi Mines, four months after the deal was announced last year. An official release from Randgold at the ...

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Lands Ministry pushes for review of stability agreements

Minister of Lands & Natural Resources, John Peter Amewu

Lands and Natural Resources Minister, John-Peter Amewu is pushing for Ghana to cancel its stability agreements with major mining companies operating in the country. The Minister Nominee says key in his administration will be to scrap the country’s stability agreements with multinational mining companies. Mr. Amewu asserts that the Ghanaian economy risks being short-changed if the agreements are not reviewed ...

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Lands Minister Nominee proposes new consolidated revenue management law

Minister of Lands & Natural Resources, John Peter Amewu

The NPP government will introduce a new revenue management law to regulate the use of gold revenue just as is done in the oil sector, Minister Nominee for Lands and Natural Resources, John-Peter Amewu has disclosed. Mr. Amewu argues that the law will among others empower local authorities and residents to track the use of all revenue earned from the ...

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Ghana Business News