Category: Mining
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TWN presses Goldfields to publish investment plan
The Third World Network (TWN) is challenging mining firm Goldfields Ghana Limited to publicly disclose fully its investments plan for the new development agreement it secured from government. According to TWN, development agreements are for future investment of not less than 500 million dollars which should be justified with a business plan. [contextly_sidebar id=”t0oUyGF5CjfJMq6mMHSEBXeLml95vgwe”]The call…
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Goldfields’ agreement with government illegal – Third World Network
The Third World Network has described as illegal the development agreement between the government of Ghana and Goldfields Ghana Limited. According to the Network, Parliament’s waving of a notice period and ratifying the development agreement raises questions which need to be answered. The government of Ghana through Parliament agreed to a new development agreement with…
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Goldfields re-engages 400 sacked workers
Goldfields has re-engaged workers who were laid off at its Damang mine. The company tells Citi Business News it has been able to transfer the about 400 workers who had to be laid off following impacts of developments within the mining industry. [contextly_sidebar id=”qhzOr5afbUslh4j2F7u8M1ClAz8f6Hs9″]The Chief Executive Officer and Executive Director of Gold Fields, Nick Holland…
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Minerals Commission predict gold price will end 2016 at $1,300
The Minerals Commission has predicted the price of gold is likely to hit $1,300 an ounce by the end of 2016. According to the Commission the figure will be good for Ghana, which depends largely on the revenue earned from gold export for development. [contextly_sidebar id=”bBsO9n3HKGauoOGEk40V8ZtlDGeZlHj0″]Ghana’s commodity driven economy has been hit hard by the…
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Govt implores mining firms to halt layoff plans for 2016
Government has begun negotiations with mining companies in the country to halt any move to lay off workers this year over fallen gold prices. According to the Ministry of Lands and Natural Resources, government is putting in place measures to cushion mining companies from the price plunge. [contextly_sidebar id=”vv0dR0Dzzp9B4SYKapsGSTfoF1lhJd3v”]Most mining companies in Ghana last year,…
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Govt grants GoldFields Ghana tax and royalty concessions
Government has granted tax and royalty concessions to mining firm Gold Fields Ghana Limited. This is part of the stability agreement reached after three year talks with the government to ease its tax burden on Gold Fields. [contextly_sidebar id=”t3qixLWwR58074GmWnhUe6YoRY9OQte3″]The mining industry, is currently reeling under threats of increased resource rent tax and excessive demands to…
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End invasion of Anglogold’s concessions: Minerals Commission to Small Scale miners
The Minerals Commission is appealing to Artisanal and Small Scale Mining members who continue to occupy AngloGold Ashanti’s Obuasi concession to end their invasion. [contextly_sidebar id=”fFXVBG0nkwiQb0y85QXIah4l8onHzy8S”]This comes after AngloGold Ashanti Ghana Limited successfully completed the process of surrendering 60% of the Obuasi concession to government. AngloGold Ashanti continues to complain about an invasion of its…
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Gold Smuggling : Minerals Commission to punish culprits
The Minerals Commission has served notice to deal with any person or companies found culpable in smuggling gold out of Ghana. According to the Commission, the country stands to lose huge revenue as long as smuggling continues. The Commission’s warning comes after the country lost an average of 1.925 billion dollars from the smuggling of…
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‘Stay away from our lands’ – Quarry operators to estate developers
The Commercial Quarry Operators Association has served notice to prosecute property owners who site properties within 500 meters of licensed concession. The quarry operators have urged property owners to relocate or be forcibly ejected to prevent fatal accidents. There have been growing public concerns over citing of quarries close to developing residential communities. “People are…
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Govt targets gold processing to increase revenue
Government is moving to cut down on unprocessed gold export to add value to the commodity before they are exported. Delivering the State of the Nation address in parliament on Thursday , President John Mahama stated that the move is part of diversifying the economy to add value to the country’s major export commodities which…