Business News Sat, 14 Feb 2004

International precious metal analysts visit Ghana

Accra, Feb. 14, GNA - Thirty-Eight international precious metal analysts, researchers and fund managers are on a three-day visit to Ghana to acquaint themselves with the gold mining industry in Ghana and to explore investment opportunities in that sector.

The analysts/researchers, who are from South Africa, Canada, United States, Australia and Europe are to assess the developments in the mining sector in Ghana, to make recommendations to the global mining and investment community on prospects of investing in that sector.

This was disclosed at a breakfast meeting organized by the Ashanti Goldfields Company Limited (AGC) to formally welcome the visiting analysts in Accra on Saturday.

Ghana is the first point of call of the experts on the West African Tour.


The experts, consisting of financial analysts, businessmen, banking and mining professionals as wells as representatives from some major international mining companies are to visit mining operations in Tarkwa, Damang, Bogoso, Prestea, Wassa and Obuasi to see how operations are being carried out there.

Mr Kwaku Akosah-Bempah, the Special Assistant to the AGC Chief Executive, Sam Jonah, told the experts that recent developments in the country attest to the fact that the mining sector was still a major player in the transformation of Ghana's economy. He said their visit was coming at a time when Ashanti was seeking to evolve into a bigger global entity and that the objective of the company was to collaborate with a credible and resourceful partner for the mutual benefit of the two companies and their respective stakeholders.

Mr. Akosah-Bempah said that it was envisaged that such a company would emerge as a major Pan African Company in a manner, which would enable it to symbolize the New Economic Partnership for Africa's Development (NEPAD).

He said that the Ashanti/Anglogold transaction had been placed before Parliament, saying "We believe the nation's legislature will endorse the views of the many mining and financial experts, who have welcomed the prospect as a very significant development in global mining." Mr Kwesi Abeasi, Chief Executive of the Ghana Investment Promotion Council told the experts that government was particularly focused on the development of the private sector and has created the right atmosphere for investors to do business in the country. He called on them to take advantage of the reduction in Corporate Tax in this year's budget to invest in the country.

Source: GNA