Minister weeps over layoff

The Minister for Lands and Natural Resources, Nii Osae Mills, has expressed concern over the recent layoff of some mine workers in the country, stressing that government is saddened by the gloomy situation.

According to him, information reaching his ministry indicates that the sharp drop in gold prices on the international market was making the mining companies to operate at a loss, hence the layoff.

Government, the minister stated, wished that workers in the country worked and accrued the needed income for their toils at the end of the month. He stressed that the government was not happy about the fact that the miners had lost their jobs.

The minister made this known when he paid a one-day working visit to the Adansi Gold Company Ltd in the Amansie West District of the Ashanti region.

He expressed delight about the assurance given to him by management of the Adansi Gold Company Ltd to the effect that they would operate, irrespective of the price of gold, to help boost the country’s economy.

Mr Osae Mills commended the management of the company for their pledge to adequately compensate farmers, whose farms would be affected by their operations, urging other mining companies to learn from them.

The minister’s visit was to enable him have firsthand information about the operations of Adansi Gold Company Ltd, which is a newly established mining company.

According to Mr Osae Mills, he had been hinted by the management of Adansi Gold that most of the people they would recruit would be indigenous people.This, he noted, would help solve the country’s unemployment problem. Recounting the history of the company, General manager of the Asanko Gold mine, Mr Jonathan Ebo Collins, said Asanko is listed on the Toronto stock exchange and the New York stock exchange.

He added that Asanko subsidiaries—Keegan resources Ghana Limited and Adansi Gold Ghana Ltd—were acquired from PMI in February 2014 and are wholly listed Ghanaian companies.

He said the company is highly committed to setting new standards in the Ghanaian mining industry through strategic partnership with government institutions to support sustainable development beyond mine life.

“Social responsibility forum has been formed between Asanko and the Project Communities (Esaase & obotan) and has formulated agreements that would seek to strengthen relationships and ensure mutual benefits for both parties.”

Mr Ebo disclosed that they have also established a medical laboratory and Vocational Training Centres for Esaase communities, where about 400 youths are expected to be trained by the end of 2016.

He further disclosed that Keegan & Adansi Community Development Committees, formed in 2007 and 2013 respectively, have so far spent US$1.5m at both project sites and on community development.

Mr Ebo added that some agreements they have reached include the employment of local people from project areas and the establishment of a trust fund to support the development of the operational areas.

He concluded that Asanko is ready to build the next Ghana gold mine by investing US$ 325,000,000 in phase one (2–3yrs) and US$ 500,000,000 in Phase two over the next five years, by producing 400,000oz of gold per annum and creating a revenue of over US$ 500,000,000 per annum at a gold price of US$ 1,300.