Accra, Ghana

GSE Feed

Forex Rate


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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

Court dismisses injunction case against layoffs at Goldfields


An Accra High Court has dismissed an injunction application by some workers of Goldfields Company Limited over the dismissal of some 1,500 workers of the company. According to the court presided over by Justice Laurenda Owusu, the mining company risks losing more if the court halts the ongoing layoffs before a determination of the substantive matter on whether they acted ...

Read More »

PMMC must examine all gold before it leaves Ghana—Dr. Bawumia


Government has directed the Ghana Chamber of Mines to work with the Precious Minerals Marketing Company (PMMC) to check the real amount of gold exported out of the country. The directive follows a number of undervalued quantity of gold declared in Ghana against high values of the commodity recorded abroad. A recent case was revealed when the gold export record ...

Read More »

AngloGold Ashanti to redevelop Obuasi Mine


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. ...

Read More »

Court to rule on Goldfields workers’ case on March 2


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 ...

Read More »

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. ...

Read More »
Citi Business News