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Business News Thu, 23 May 2019

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Small scale miners and individuals encouraged to establish large scale mining companies

The Board Chairman of the Minerals Commission , Mr Sampson Kwaku Boafo has asked Ghanaians both home and abroad with mining expertise to come together to engage in large scale mining in the country instead of doing small scale mining or illegal mining which has a lot of negative effects on the environment.

He pointed out that mines like Asanko, Azumah and Adamus which are purely Ghanaian mining companies were performing very well and could be emulated by small scale miners.

He suggested that two or three small scale mining companies could come together and go for the best practices training at the University of Mines and Technology (UMaT) in Tarkwa to qualify them to operate as large scale mines.

Mr Boafo said this when the board members embarked on a day's familiarization tour of the Adamus Resources Limited Mines site (Nzema Gold Operations) at Esiama in the Nzema East district of the western region.

The Board chairman explained that the visit was in line with the Board’s strategy to familiarize with mining operating companies in the country to help shape policies for the sector.

He commended the mining companies the board has so far visited stressing that they have all followed good practices in mining industry which he said coupled with the interventions by the government has made Ghana to overtake South Africa as the leading gold producing country in Africa and 7th in the world, adding that Ghana could move to the 5th or 6th place in the world if illegal mining was curtailed.

Mr Boafo called on the government to encourage foreign mining companies in the country to list on the stock exchange, adding that " It is when you register on the stock exchange that your capital will flow" and that in Canada and Australia many of their mining companies were listed on the stock exchange.

The board chairman appealed to Adamus Resources Limited to apart from implementing the local content policy ensure that they put in place state of the art physical infrastructure to befit mining communities in which they operate, citing Johannesburg in South Africa as a place which has really benefitted from the operations of mining companies and stressed that a similar development could be replicated in Ghana.

In a presentation to the Minerals Commission Board members, the acting General Manager of Adamus , Mr Ibrahim Halilu Mohammed said Adamus Resources limited was being managed by highly skilled technical, operational, sustainability and financial professionals and it has since 2009 to date contributed USD 104 million to the Ghanaian economy.

On community investment he said a trust fund has been established as a broader sustainability programme for local communities and that an amount of USD 12 million has so been allocated to three communities and that subsequently all their host communities would be roped in.

He said USD 11.3 million compensation have been given to local farmers with 800 of them supported to restore their livelihood, and that the company has successfully resettled Teleku Bokazu, Salman and Nkroful communities.

Mr Mohammed said the Company was strongly committed to the highest standards of environmental management, health and safety for employees and that of neighbouring communities.

The acting general manager pointed out that despite the fact that the mine had chalked some successes it was seriously challenged with the activities of illegal mining, request for concession from communities and the military withdrawal.

He in this regard appealed to the government to reconsider the decision of the withdraw the military from the mining sites, stressing that the absence of the military has greatly affected the company since many of the illegal miners have resumed their activities in full force and have in some cases attacked the staff of the mine.

Source: ghananewsagency.org

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