Category: Mining
-
Ghana’s gold production to go up by 9% in 2021 – Fitch Solutions
Gold production in Ghana in 2021 is expected to grow by about 9 percent, the biggest growth rate in years. This is expected to push the volume of gold produced in Ghana to 4.65 million ounces next year according to a report by Global market analysis outfit Fitch Solutions. The increase in gold production will…
-
GIADEC inaugurates committees in 4 bauxite mining communities to ensure smooth operations
As part of efforts to ensure community buy-in and support for the activities of the Ghana Integrated Aluminium Development Corporation (GIADEC) in its operational areas, the governing Board and Management of GIADEC has set up and inaugurated 4 separate 19-member committees for the various communities where bauxite mining and refining will be taking place. They…
-
Suspension of Agyapa IPO launch a step in the right direction – CSOs
Some Civil Society Organizations opposed to the controversial Agyapa Royalties deal have welcomed government’s decision to put the launching of the deal’s Initial Public Offering (IPO) on hold. This comes after the Finance Ministry served notice that government will not proceed with the IPO until the Special Prosecutor concludes the ongoing corruption risk assessment on…
-
Finance Ministry briefs faith-based organisations on Agyapa Royalty agreement
The Ministry of Finance has held separate virtual meetings with the Social Partnership Council (SPC) and the leadership of Faith-Based Organizations (FBOs) as part of its stakeholder engagement and consultations drive to deepen the understanding of the Agyapa Royalty transaction. The Social Partnership Council is made up of the Labour Unions, Ghana Employers Association and…
-
Investing public will not be swayed by opposition to Agyapa Royalties deal – Ken Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has downplayed fears, that ongoing public criticism and opposition to the Agyapa Royalties Deal could scare aware potential investors. The agreement has for the past weeks sparked controversy among different groups in the country, with some Civil Society groups in the extractives sector describing the Special Purpose Vehicle that has…
-
Basing Agyapa Royalties in tax haven disappointing – Terkper
Former Minister of Finance, Seth Terkper says the Finance Ministry’s defence for incorporating Agyapa Royalties Limited in Jersey of the Channel Islands as a means to avoid paying extra taxes on mining royalties is disappointing. Jersey is a known tax haven and a destination for incorporating companies that want to be listed on the London…
-
Agyapa Royalties agreement best deal for Ghana’s mineral resources – Ofori-Atta
Government has shot down suggestions that the Agyapa Royalties Agreement is a rip-off to the nation. Finance Minister, Ken Ofori-Atta, at a press conference on Thursday, denied claims that the government established Agyapa Gold Mineral Royalty Limited to mortgage the country’s ‘future resources’ to enrich the current administration. It will be recalled that the flagbearer…
-
Government explains motive for basing Agyapa Royalties in tax haven
The government has explained the reason behind basing Agyapa Royalties Limited in Jersey of the Channel Islands which is a known tax haven. The government says it adopted such a decision to ensure that it was not paying more tax on mining royalties than it needed to. The government registered the company in Jersey “because…
-
Why the Akufo-Addo government must freeze the Agyapa Royalties deal [Article]
Kofi Ansah, the founding Chief Executive of the Minerals Commission, and Fui Tsikata, a lawyer with 45 years experience in mineral and energy law and policy, have argued for the freezing of the controversial Agyapa Mineral Royalties deal. In a statement, they said putting the deal on hold will be in “everybody’s interest”. They feel…
-
Jobs and the environment will be protected in sale of Bogoso-Prestea Mine – Golden Star
Golden Star Resources Limited says the agreement with Future Global Resources to trade off 90 percent interest in the Bogoso-Prestea Gold Mine will not affect jobs. The Mine employs about 600 directly and 600 others indirectly. The President and Chief Executive Officer of Golden Star, Andrew Wray, who gave the assurance, says the new owner…