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AngloGold Ashanti to redevelop Obuasi Mine

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AngloGold Ashanti has signed an agreement with government to re-develop its Obuasi goldmine. Under the agreement, the government of Ghana is expected to provide a tax concession arrangement, security, and a reclamation plan. In 2016, AngloGold Ashanti shut down the Obuasi Mine, following an impasse with illegal miners that resulted in the tragic death of the Communication’s Manager, John Owusu. ...

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Court to rule on Goldfields workers’ case on March 2

Goldfields

An Accra High court has set the 2nd of March to deliver its ruling on the fate of some 1,700 workers of Goldfields Ghana who have been laid off by the company. The Judge, Laurenda Owusu said she will rely on the relevant provisions in civil procedure rules, CI 47 and all the processes filed to deliver its ruling on the set ...

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Petroleum Commission halts fast paced contract approvals

Egbert Faibille

The Petroleum Commission has warned that it will not approve any petroleum contract that does not fulfill the three months’ mandatory notice ahead of its implementation. The caution follows what the Commission describes as the abuse of the law by oil companies. According to the CEO of the Petroleum Commission, Egbert Faibille, the issue also prevents proper scrutiny of contracts. ...

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Ghana Beyond Aid achieved yet?

President Akufo Addo 620x330

One of the key priorities of the NPP administration is to move ‘Ghana Beyond Aid’. The government has been tough on working to reduce the over-dependency on donor support for development. In the build up to President Akufo Addo’s State of the Nation Address on Thursday, February 8, 2018, Citi Business News takes a look at how far government has ...

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Gov’t moves in to stop under-valued gold exports

Gold

The issue of undervalued revenue generated from Ghana’s export of gold continues to be a challenge to the mining industry. Government has announced some measures to block the leakages in the revenue generated from the export of gold. Citi Business News has been speaking to some industry players to seek their perspectives on the effectiveness of the interventions in raking ...

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Amewu woos investors into Ghana’s mining industry

John Peter Amewu

The Minister for Lands and Natural Resources, John Peter Amewu is leading a nine-member Ghanaian delegation to attract business opportunities in the mining sector as part of the 2018 Mining Indaba Conference which opens in Cape Town, South Africa, tomorrow[February 5, 2018] . A statement from the ministry copied to Citi Business News said Amewu will speak on the topic: ...

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Chamber of mines backs auditing of mining companies

Director responsible for Public Affairs and Environment at the Ghana Chamber of Mines, Ahmed Nantogmah

The Ghana Chamber of Mines has welcomed the decision by the Lands and Natural Resources Ministry to roll out an operational audit for all mining companies in the country. The audit which will be rolled out in the next two to three weeks, is to ensure that revenue received by government from the country’s mining industry, is accurate. This also ...

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Lands Ministry to audit exports of mining firms

Minister of Lands & Natural Resources, John Peter Amewu

The Ministry of Lands and Natural Resources has announced plans to roll out an operational audit system for all mining companies in the country. The move, according to the ministry is to ensure that revenue received by government from the country’s mining industry is accurate. This follows a recent disclosure of undervalued revenue received from gold export to the United ...

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Don’t stampede gov’t into lifting ban on small scale mining

President of the Ghana Chamber of Mines Kwame Addo-Kufuor

The Ghana Chamber of Mines is cautioning against stampeding government into lifting the ban on small scale mining before a proper assessment is done. Government placed a ban on all small scale mining last year to check and halt illegal mining, popularly known as galamsey, to stop the destruction of forests and contamination of water bodies. Speaking to journalists to ...

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Minerals Commission must block leakages in gold export

Kwaku Addae Antwi-Boasiako

The Association of Gold Exporters of Ghana has called on the Minerals Commission to take steps to prevent recalcitrant gold exporters from exploiting the commission’s systems. According to the treasurer of the association, Dr. Abu Grant, the Minerals Commission needs to be steadfast in its operations, in order to stop the leakage of gold revenue from Ghana. His comments follow ...

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