Category: Mining
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AngloGold Ashanti dismisses fake recruitment for Obuasi, Iduapriem mines
Anglogold Ashanti is cautioning the public to be wary of a fake recruitment process for its Obuasi and Iduapriem mines. The company tells Citi Business News some unknown persons have succeeded in luring unsuspected persons into paying monies to secure employment in the mining company’s two mine sites. “These individuals and/or companies write to unsuspecting…
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30% of gold to be refined locally – Amewu
The government is working to ensure that 30 percent of gold mined in Ghana is refined locally. The Minister of Lands and Natural Resources, John Peter Amewu said an agreement to implement this new policy direction would be concluded by November. “In the gold industry, plans are far advanced to start refining 30 percent of…
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Anglogold Ashanti appoints new CEO
Anglogold Ashanti has appointed Kelvin Dushnisky as the CEO and Executive Director of the company. His appointment takes effect from September 1st 2018. He replaces Srinivasan Venkatakrishnan who will be exiting the company by the end of August. Mr. Dushnisky joins Anglogold Ashanti from Barrick Gold Corporation where he serves as the President and Executive…
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Kosmos Energy ruling won’t affect Ghana operations—Tullow Oil
Tullow Oil has told Citi Business News its performance this year will not be affected despite the outcome of the court case brought against it by Kosmos Energy. Tullow says although they find the ruling very disappointing, their expenditure share will not be affected by it. “It won’t have any effect on that part of…
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International bodies mount pressure on govt to lift ban on mining
Some international bodies are mounting pressure on government to lift the ban on all small scale mining activities to allow legally registered companies to operate. According to international organization, PACT, the ban is causing legally registered small scale mining companies to lose millions of cedis invested in their operations as well as millions of job…
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Producer Price Inflation for May increases to 7.1%
The Producer Price Inflation (PPI) for May 2018 has increased to 7.1 percent. This was up by 0.7 percent compared to the 6.4 percent recorded in April. The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services. Speaking to journalists, Government Statistician Mr.…
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$259m tax waiver: AngloGold moves to revamp Obuasi mine
AngloGold Ashanti has welcomed the tax waiver granted by Parliament paving the way for it to redevelop its Obuasi mine. The mining company believes the move will lead to increased production from the mine site for at least the next twenty years. Parliament, on Thursday, granted 259 million dollars in tax waivers to Anglogold Ashanti…
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Mine workers wade into $259m tax waiver for Anglogold
The Ghana Mine Workers’ Union is cautioning against agreements that may impact adversely on the country’s mining sector and erode gains so far made. The concern follows the tax concession granted Anglogold Ashanti as it revamps its Obuasi mine. Parliament has approved 259 million dollars tax concession to the mining company. But according to the…
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Oil refiners in Africa push for uniform pricing
The African Refiners Association (ARA) has initiated steps to ensure a uniform pricing of fuel products in the West African region. According to the Association, the increasing smuggling of fuel products with low standards is the cause of disparities in prices across the region. Ghana lost some 200 million dollars in two years while its…
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Gold Fields headlines WAMPEX 2018
As Gold Fields celebrates its 25 years of operating in Ghana, the company headlined this year’s West Africa Mining and Power Expo (WAMPEX 2018), a major forum that attracted over 1,400 mining and power industry professionals, as well as companies from more than 16 countries. Held at the Accra International Conference Centre, this year’s event…