Home  |  Login  |  FAQ  |  Advertise  |  Services  |  Recommend  |  FeedBack  |  Contact Us  
Home
News

 Other Sections
ACN Ghana 2008
Sports
Finance
Business Directory
Online Forms
Real Estate
Classifieds
Auto
Jobs
Events
Downloads
World Cup 2010
Travel
About Ghana
Our Services
News Headlines
 More
Ghanaians encouraged to enter into legal mining
News Date: 12th February 2010


There are policies to encourage Ghanaian investment in mining related and ancillary industries which do not require as much capital injection, Mr Collins Daoda, the Minister of Mines and Forestry, has said.

Mr. Daoda told the house in answer to a question tabled by Mr. Christopher Addae, the Member of Parliament Bibiani Bekwai, on Thursday that areas in which government adopted policies to support Ghanaians to effectively participate in the mining industry were Differential Fees, Local Content, Staffing, and Small Scale mining.

Under differential Fees, he said government had operated a differential mineral right fee structure which required Ghanaians to pay an average of 10 per cent of what foreign applicants paid, a total of some 200 exploration right holders, Ghanaians account for about two-thirds (66%), he added.

Mr Daoda said since government saw the mine support sub-sector as an opportunity for local entrepreneurs to readily participate, a legal framework has been provided.

The Minister said two small gold refineries had operated in recent times, one of them -ASAP VASA- was Ghanaian owned and operated and continues to supply the refined product needs of some major local jewelleries, other companies with Ghanaian ownership include Hufra-Compu Techs limited which had a state of the art facility producing all kinds of metal components and

parts while Western castings produced grinding media.

He said the provision of catering, laundry, haulage, transport and security service for the mining are being considered to be reserved for

Ghanaians under the legislative instrument which was currently at the Attorney General's office.

Mr Daoda said government has advanced loan facilities to some well organized licensed and creditable small scale mining in their operations some of which are Konongo, Bolgatanga, Bibiani Mining cooperatives for gold and at Elmina for solar salt winning.

Mr. Isaac Kwame Asiamah, member for Twimah Mponua also asked the Minister when the Nyinahin Bauxite Mining project would take off.

Mr Daoda said four companies have been granted access to the resources area at Nyinahin, they are VIMETCO, Alara, Aluminium Company of

America, and Global Ventures.

He said after cross validation the existing results, the companies may apply for license to mine.

Evaluating the applications of the companies would be done by the Minerals commission and appropriate recommendation would be made to the Minister as required by law, Mr Daoda noted.

He said based on the recommendations of the Minerals commission the Minister may grant a mining licence for the exploration of Bauxite at

Nyinahin.


Source: GNA


 More
 Search News
 
 Advanced Search

ADVERTISEMENT
  Latest News Headlines
Ingenico Group earns Award for 'Financial Inclusion Platform of the Year' 'Best Mobile Money ...
Young Nigerian Business Owners Meet to Promote Entrepreneurship and Innovations
Airtel customers to enjoy 5% discount on purchase of UnlimiNet bundle via Airtel Money
eLearning Africa: African Union Warns of Threat to Skills Revolution
New director of IRB Brasil RE for Africa participates in the AIO Conference in Tunisia
This Weekend on Box Office
Ablekuma to Host Greater Accra edition of the iCAN Examination Mentorship Program
Uganda will host the Kampala Private Equity and Venture Capitalist Conference 2015 from 24th to 25th
eLearning Africa: Ministers Call for Urgent Investment in African Youth
Bet Announces Official Nominees for the 'Bet Awards' 2015
 More latest news
 Popular News Items
Tigo Ghana's CEO is 2nd on Sweden's list of 75 young and promising women
eLearning Africa Report: ICTs boosting growth but teachers reluctant to change
Ghana committed to eliminate child labour on cocoa farms - Veep
Ghana's Fourth Republic has become too partisan - Dean
Alcatel-Lucent and NITA successfully complete the new Eastern Corridor Rural Fibre ...
Farmers design agric-financing model
Five tips for success by Africa's top young entrepreneurs
Sara Nana Yeboah Receives 2015 Africa Reconnects Award
Invest in tourism development - Dr Addo
Euroget's hospital project behind schedule

Copyright BusinessGhana. All Rights Reserved.

Legal