Minerals output jumps, revenue falls

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• Conventional Youth 12 years ago

  Mr. Owiredu said the downturn in gold revenue drove a percentage point reduction in the share of gold in total mineral revenue for 2013, from 97.5 percent to 96.3 percent.
  
  Alfred Baku, Executive Vice President of Gold Fiel ...
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  Mr. Owiredu said the downturn in gold revenue drove a percentage point reduction in the share of gold in total mineral revenue for 2013, from 97.5 percent to 96.3 percent.
  
  Alfred Baku, Executive Vice President of Gold Fields’ West Africa Operations, has said mining investments are under threat as companies are cancelling new projects and closing mines due to pressure from price-dips, cost increases and higher taxes.
  
  “Equity investors have become frustrated as miners have spent their money with little to show for it. Returns just do not warrant the risk. In reality, margins and returns from mining are in decline; operating cash flows are not sufficient to cover investments,” he said.

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• Tell us how the Govt Got in dollars 12 years ago

  All this money and we are dead broke and borrow money to buy sanitary pads. Oh Ghana. Who gets that billions of dollars? the foreign companies? the clueless govt or who? Tell us how the money is distributed and who gets what ...
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  All this money and we are dead broke and borrow money to buy sanitary pads. Oh Ghana. Who gets that billions of dollars? the foreign companies? the clueless govt or who? Tell us how the money is distributed and who gets what in dollars not cedis.

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• G. K. Berko 12 years ago

  Such is the fear many of us had with the drastic and continuing devaluation of our Cedi. To those rusty theoretical Economists who embraced the fall of the Cedi, this situation did not mean much. They probably did not consid ...
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  Such is the fear many of us had with the drastic and continuing devaluation of our Cedi. To those rusty theoretical Economists who embraced the fall of the Cedi, this situation did not mean much. They probably did not consider this to advise our Authorities to do better.
  
  When any currency drops in value and the Country using it fails to increase productivity immensely, the Nation loses revenue. Period. We were supposed to expand our production of various exports to compensate for the fall of the Cedi or we would surely suffer shortage of earnings. This is what many folks feared. And now we are living it.
  
  I wonder what specific inducements the Government offered our local Enterprises to help them produce more to take advantage of any increase in demand for our lower-priced goods and services.
  
  If we do not produce enough to cover that fiscal adjustment, we stand to lose big time. It is that simple. So, either the BoG finds a way to boost our Cedi's value, or we are encouraged to expand our productivity in the very shortest period. We cannot afford to sell our goods cheaply and not make any significant gains in the overall revenue cumulated. If our productivity has soared but we do not have the appropriate Market response to gain, we may have to advertize more, negotiate for better access to Markets, etc.
  
  Long Live Ghana!!!

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