Tag: Mining
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Chamber of Mines calls for better engagement with stakeholders to sustain mining sector growth
The Ghana Chamber of Mines has called for prioritization of improved collaboration among all stakeholders in the mining sector in the coming year. This, the chamber says, will ensure sustained growth of the sector, which continues to be a key driver of economic growth in the country. According to the 2020 budget Statement and Economic…
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Activities in mining and quarrying push June PPI to 7.6%
The Producer Price Inflation (PPI) for June 2019 has increased to 7.6 percent compared to the same period in the previous year. This rate represents a 0.9 percentage point increase in the producer inflation relative to the rate recorded in May 2019 which was 6.7 percent. The Producer Price Index measures the average change over…
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Gov’t must prioritise investment in artisanal and small-scale mining – Third World Network-Africa
Mining industry stakeholders have called for improved and sustained support for artisanal and small scale mining of both salt and gold in Ghana. According to them, the downgrading of artisanal and small scale mining (which directly employs an estimated one million people and supports approximately 4.5 million more) in favor of large scale mining is…
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Ministerial reshuffle: Expectations of business related ministers
Expectations for ministers affected by President Akufo Addo’s reshuffling are high. The President, in his first reshuffle, moved fifteen ministers, three of whom are those whose portfolio affects the business related sectors of the economy. The first is the current Aviation Minister, Cecilia Dapaah who is heading to the Ministry of Sanitation and Water Resources.…
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Ghana to adopt new formula for royalties in mining sector
Dividends accruing to Ghana from mining activities should increase significantly with the adoption of a new formula for calculating the figure. The new system has become necessary as the country is reported to have been losing millions in revenue to the mining sector over reports of little or no profits by the mining companies. These…
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Court to rule on Goldfields workers’ case on March 2
An Accra High court has set the 2nd of March to deliver its ruling on the fate of some 1,700 workers of Goldfields Ghana who have been laid off by the company. The Judge, Laurenda Owusu said she will rely on the relevant provisions in civil procedure rules, CI 47 and all the processes filed to deliver…
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Lands Ministry to audit exports of mining firms
The Ministry of Lands and Natural Resources has announced plans to roll out an operational audit system for all mining companies in the country. The move, according to the ministry is to ensure that revenue received by government from the country’s mining industry is accurate. This follows a recent disclosure of undervalued revenue received from…
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Environment Ministry to ban mercury use in mining
The Minister for Environment, Science, Technology and Innovation, Professor Frimpong Boateng has revealed government’s intentions to drastically reduce the use of mercury in mining activities in the country as it poses serious health hazards. As a result, Ghana has signed an agreement with the MINAMATA Convention. The Convention seeks to ban the use of mercury…
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Lands Ministry sets July 19 to start integrated mining project
The Ministry of Lands and Natural Resources has indicated that it will by the 19th of July, 2017, implement the Multilateral Mining Integrated Project (MMIP) aimed at sanitizing the country’s mining sector. According to a resource governance index report by the Natural Resource Governance Institute (NRGI), Ghana ranked 24th out of 81 countries involved in…
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We’ll prosecute defaulting taxpayers in mining sector – GRA
Suppliers of mining equipment in Ghana who default in filing tax returns risk prosecution if they fail to reconcile with the Ghana Revenue Authority (GRA). It follows plans by the GRA to clamp down on defaulting tax payers especially in the mining sector, this year. Under the law, mining companies are entitled to refunds of…