Tag: Mining
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Small-scale mining fetched Ghana almost US$1.2 billion in 2022 – Lands Minister
Samuel Abu Jinapor, the Minister of Lands and Natural Resources has stated small-scale mining has been contributing increasingly to the nation’s gold output as the sector produced a total of 712,405 ounces of gold last year. This he said brought the nation almost US$1,200,000,000 in export receipts, adding that all diamonds produced in the country in 2022,…
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Mining propels Ghana to beat growth estimates in fourth quarter
Ghana’s economy grew more than forecast in the last quarter of 2022, even as the nation dealt with inflation well above 40%, a debt-payment moratorium and rising interest rates. Gross domestic product expanded 3.7% from a year earlier in the three months through December, compared with upwardly revised growth of 3.1% in the previous quarter,…
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Gov’t slaps Maxam company with $6 million fine over Appiate explosion
The government has imposed a fine of $6 million on Maxam Ghana Limited, the company at the centre of the explosion that occurred at Appiate in the Prestea Huni-Valley Municipality of the Western Region, which killed some 13 people and destroyed the entire community. This was disclosed by the Minister for Lands and Natural Resources,…
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Maxam Limited’s closure will affect mining companies – AngloGold Ashanti
The Senior Manager in charge of Mining at AngloGold Ashanti Iduaprim mines, Steven Asante Yamoah, says although it supports the Minerals Commission’s decision to regulate the manufacture and transport of explosives following the Appiate disaster, the closure of Maxam Company Limited will have adverse impact on the operations of over six mining companies in the…
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PPI for November 2020 increased slightly to 8.8% – Statistical Service
New figures released by the Ghana Statistical Service (GSS), indicate that the Producer Price Inflation rate for November 2020 was 8.8 percent. This rate indicates that between November 2019 and November 2020 (year-on-year), the PPI increased by 8.8 percent. It also represents a 0.4 percentage point increase in producer inflation relative to the rate recorded…
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![Why the Akufo-Addo government must freeze the Agyapa Royalties deal [Article]](https://citibusinessnews.com/wp-content/uploads/2020/08/Finance-Minister-Ken-Ofori-Atta.jpg)
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…
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Tanzanian miner becomes overnight millionaire
A small-scale miner in Tanzania has become an overnight millionaire after selling two rough Tanzanite stones – the biggest ever find in the country. This is according to the BBC. Saniniu Laizer earned £2.4m ($3.4m) from the country’s mining ministry for the gemstones, which had a combined weight of 15kg (33 lb). “There will be…
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Sandvik Mining West Africa attains new ISO Certifications
Mining equipment and technology solutions provider, Sandvik Mining & Construction (Sales Area West Africa), has achieved what managers say, is a significant milestone in its Safety, Health, Quality and Environment record. The company says it recognised that the only way to guarantee its business growth and customer satisfaction was to implement a robust Safety, Health…
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Review of mining policies to boost Ghana’s benefit from surge in gold prices – Economist
Economist, Dr. Adu Owusu Sarkodie has advocated possible amendments to Ghana’s production system in the mining industry if the country is to benefit fully from the resources in the sector. It follows the increase in global prices of gold which is to benefit producers of the commodity. As at the afternoon of Friday, January 10,…
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Kinross Chirano Gold Mines pays $5m in dividends to gov’t
Kinross Chirano Gold Mines Limited, a subsidiary of Kinross Gold Corporation in the Western Region, has declared its dividend for the fiscal year 2018 to its shareholders, following a strong 2018 operational performance. The government of Ghana, which has a 10% carried interest in the company, was paid a $5 million dividend on December 23,…