ACCRA, Nov 16 (Reuters) - Sam Jonah, the chief executive of Ashanti Goldfields Company (AGC), on Tuesday published a statement in Ghana's most popular newspaper denying reported allegations of criminal conduct.
He said in the Daily Graphic that according to press reports the allegations were attributed to Ghanaian President Jerry Rawlings.
``I am compelled to issue this release because of statements made by or attributed to the President, His Excellency Flight Lieutenant J. J. Rawlings, that he believes that there is criminal conduct on the part of companies in the gold industry and that some individuals in AGC are involved,'' Jonah said.
``The President appears to think that some mining companies keep government revenue in their own accounts and make profit from it before surrendering it to government. AGC certainly does not do that. We keep our income from gold sales in the company's account and pay our obligations when they fall due,'' he said.
If the president knew of criminal conduct, he should provide details and let the law courts deal with it.
``I wish to assure his excellency, my friends, well-wishers and, indeed, all shareholders of AGC, that there is no basis whatsoever for anybody to suspect me of criminal conduct,'' Jonah said.
No officials were immediately available for comment at the president's office.
Ashanti has recently fended off a takeover bid from 32-percent shareholder Lonmin Plc and came to an agreement with counterparties to hedge contracts which meant it did not have to pay hefty margin calls.
Jonah said AGC was still in delicate negotiations with its counterparties and unsubstantiated allegations could heighten their perception of the risk associated with dealing with Ashanti.
``This will certainly undermine the company's position in those negotiations and the country will ultimately suffer as a result,'' he added.
The advertisement was paid for by Jonah personally.
