Tag: PMMC
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PMMC appeals for gov’t support to settle its GH¢65 million debt
The Precious Minerals Marketing Company (PMMC) Limited, is calling for government support to settle a legacy debt of over GH¢65 million. The company owes some four banks, and the debt has accrued over a ten-year period. The revelation comes after the 2020 Auditor General’s report, revealed that losses posted by state enterprises and specified entities…
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PMMC reserves 30% of refined gold to local jewelers
The Precious Minerals Marketing Company (PMMC) is reviewing its strategy to make available, gold and diamond needed by jewelers in the country. This also forms part of efforts to sustain the jewelry industry. The move follows complaints by players in the industry over their difficulty in accessing raw materials needed for their operations. In an…
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PMMC workers call off strike
Workers at the headquarters of the Precious Minerals Marketing Company (PMMC) have called off their sit down strike. The aggrieved workers numbering about fifty, had called for the removal of the Managing Director of the company, Kwadjo Opare Hammond and his entire board for a number of infractions. But after a 5 hour meeting between…
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Angry PMMC staff ask Nana Addo to sack MD
Some aggrieved workers of the Precious Minerals Marketing Company (PMMC), are calling on President Nana Akufo-Addo to immediately sack the Managing Director of the firm and dissolve the board. According to the workers, the MD, Kwadwo Opare Hammond, has among other things been circumventing the procurement processes of the company. The workers numbering over 50…
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Give EOCO unfettered access to Menzgold – Asiedu-Mante
A former Deputy Governor of the Bank of Ghana, Emmanuel Asiedu-Mante has backed the investigations into the operations of Menzgold by the Economic and Organised Crime Office (EOCO). In his view, the probe is necessary if the sanctity of the financial sector is to be upheld. Mr. Asiedu-Mante’s comments come on the back of the…
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Gov’t moves in to stop under-valued gold exports
The issue of undervalued revenue generated from Ghana’s export of gold continues to be a challenge to the mining industry. Government has announced some measures to block the leakages in the revenue generated from the export of gold. Citi Business News has been speaking to some industry players to seek their perspectives on the effectiveness…
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![Left to die: Jewellery industry fades away [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/12/jewelry-1-1.jpeg)
Left to die: Jewellery industry fades away [Audio]
The sixth edition of Citi Business News’ series, “Left to die,” focuses on Ghana’s Jewellery industry. The report reveals that although Ghana has abundance of precious minerals that can be used as raw material to manufacture jewellery, local companies are collapsing one after the other. Citi Business News’ Anita Arthur reports that among the numerous factors…