Category: Mining
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Kwame Addo-Kufuor moves to Newmont
Citi Business News can confirm that the former Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has moved to another mining firm, Newmont. [contextly_sidebar id=”2MqYjCGgfB9QLR5Hdp2oMKRssXL8VkF0″]According to a statement from Newmont, Kwame Addo – Kufuor has been appointed as the Regional Chief Financial Officer for Newmont Africa. ‘Newmont Africa has announced the appointment…
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Kwame Addo Kufuor leaves AngloGold
Citi Business News can confirm the Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has resigned. [contextly_sidebar id=”dOSltHsLSxjQp7uYNTHwyNVDoO1VYGAw”]It is unclear where he will be heading to but a statement from the mining giant said Kwame Addo-Kufuor has moved on to pursue other interests. Kwame Addo-Kufuor has been with AngloGold for 18 years.…
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Ministry of Lands seeking amendment to mining law
The Ministry of Lands and Natural Resources is seeking to amend the existing mining law governing natural resource in the country. [contextly_sidebar id=”GJYqYfaTGRqWQfbYm4M9iTsL7JIolN6X”]In view of this, the bill has already been sent to Parliament and has gone through first reading. Once passed, the law will criminalize activities of illegal small scale mining leading to arrest…
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Change policies on expatriate recruitment, miners plead
The Ghana Mineworkers’ Union (GMWU) wants mining policies regarding expatriate recruitment, skills shortage and income in the mining industry reviewed. It believes the review must be addressed by all players including the Chamber of Mines and the Minerals Commission. The Union had earlier called on government and mining companies operating in the country to establish…
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Gold prices to increase this year-Minerals Commission
The price of gold is expected to increase this year on the global market. This is according to the Minerals Commission. The price of gold has been declining on the world market for over three years. The decline hit hard Ghana’s revenue base which relies heavily on gold proceeds. The plunge in gold prices also…
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10 Biggest corporate movements in 2014: Part 1
Corporate Ghana every year witnesses some interesting movements be it resignations, dismissals or what have you. These movements usually make or break the companies or institutions. In 2013 for example the banking industry witnessed the appointment of four women as bank managers of four banks in the country. The move solidified Ghana’s slow but growing…
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Perseus fires workers
Perseus Mining Ghana Limited has sacked 48 workers of the company as part of measures to cut down on cost. The company together with Goldfields Ghana Limited recently alerted the Ghana Mine Workers Union of their intentions to lay off some workers. The dismissal comes a few days after AngloGold Ashanti laid off over 4,000…
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More miners to be sacked over “Dumsor”
The Ghana Mine Workers Union is lamenting that the worsening power crisis and ongoing load shedding exercise has contributed to the growing dismissal of miners across the country. This comes after the Electricity Company of Ghana(ECG) announced a 25% cut in power supply to mining companies translating into 6 megawatts of electricity. Industry was roped…
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AngloGold sacks over 4,000 workers
Citi Business News has gathered AngloGold Ashanti Ghana has finally laid off 4,300 of its workers as part of cost-saving measures. This comes after the company announced the planned retrenchment in May this year. The move is part of measures being undertaken by the mining company to make the Obuasi mine profitable. AngloGold Ashanti budgeted…
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Gold set for biggest weekly rise
Gold prices steadied on Friday,12th December,2014 on track for their biggest weekly rise since June, as the dollar retreated and sliding oil prices hurt risk appetite, prompting another drop in stocks. Gold was up 3% this week. Weakness in stocks has prompted some investors to buy the metal as an alternative asset, while a drop…