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Mining

Group bemoans low women participation in mining sector

WhatsApp Image 2018-10-17 at 5.22.18 PM

As part of measures to rope in more women into the mining sector, government has outlined certain strategies to help achieve this feat. The women in the mining sector have complained of how often they are sidelined in terms of their participation in the mining industry. But at a workshop organized by women in mining Ghana, government says it has ...

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Industrializing Ghana: Nana Addo defends 1d,1f; bauxite deal

FT summit

President Akufo Addo has mounted a strong defense of his government’s industrialization agenda in a bid to grow Ghana’s economy. The President says the flagship one district, one factory program should create employment and improve livelihoods. President Akufo Addo made the remarks at the Financial Times Africa Summit where he also justified the recent economic relationship with China to develop ...

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PMMC reserves 30% of refined gold to local jewelers

gold

The Precious Minerals Marketing Company (PMMC) is reviewing its strategy to make available, gold and diamond needed by jewelers in the country. This also forms part of efforts to sustain the jewelry industry. The move follows complaints by players in the industry over their difficulty in accessing raw materials needed for their operations. In an interview with Citi Business News, ...

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PMMC workers call off strike

pmmc-demo

Workers at the headquarters of the Precious Minerals Marketing Company (PMMC) have called off their sit down strike. The aggrieved workers numbering about fifty, had called for the removal of the Managing Director of the company, Kwadjo Opare Hammond and his entire board for a number of infractions. But after a 5 hour meeting between the workers, management and the ...

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Angry PMMC staff ask Nana Addo to sack MD

pmmc-demo

Some aggrieved workers of the Precious Minerals Marketing Company (PMMC), are calling on President Nana Akufo-Addo to immediately sack the Managing Director of the firm and dissolve the board. According to the workers, the MD, Kwadwo Opare Hammond, has among other things been circumventing the procurement processes of the company. The workers numbering over 50 did not hide their determination ...

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IMF clearance speeds up processes for China’s $2bn – Akoto Osei

Dr. Anthony Akoto Osei

The Minister for Monitoring and Evaluation, Dr. Anthony Akoto Osei, has stated that government will speed up negotiations on the two billion dollar SinoHydro bauxite deal, following the International Monetary Fund’s (IMF) rejection of the Minority’s request to classify the deal as a loan. Speaking to Citi News, Dr. Akoto Osei maintained that the clarification entrenches government’s position that the ...

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Menzgold to pay customers their monies from Friday

MenzGold

Management of gold dealership company Menzgold, has announced that customers can visit branches of the company to demand their matured investment from tomorrow [Friday], September 28, 2018. Addressing a press conference today, Thursday, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, explained that the company will pay all its customers that were trading with them until September 12, when a ...

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We’ve not blocked Menzgold’s dividend payments – SEC

sec

The Securities and Exchange Commission (SEC) has denied reports by gold dealership Company, Menzgold, that it has stopped it from paying dividend on its gold vault business to customers. SEC says its decision was rather to stop Menzgold from taking deposits on that particular service. But Menzgold insists it is unable to pay their customers their dividends due to the ban ...

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Chirano mines pays $13m dividend to government                                                             

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Chirano Gold Mines Ltd has paid a 10% dividend to the government of Ghana worth 13 million dollars for the 2017 fiscal year. This the company attributes to its good performance for the year 2017. Presenting the cheque to the Ministry of Lands and Natural Resources, the Vice President and General Manager of Chirano Gold Mines Limited, Adriano Sobreira said ...

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Ghana’s diamond industry on its ‘knees’

diamonds

The volume of diamond produced in the country has reduced by 90 percent in the past decade. Although very low, the production of diamond has been heavily affected by the ban on small scale mining due to the fact that the sector is heavily dominated by small scale miners. With the ban, the mining of the precious mineral has dwindled. ...

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