Vision1 FM                       Light FM                         Light TV

Gov’t to audit mines – Amewu

Minister of Lands and Natural Resources, John Peter Amewu, has disclosed government’s intention to soon conduct an operational audit of all mines across the country.



The audit, he says, will enable government to monitor content and amount of gold extracted by the mining companies to ensure Ghana is not shortchanged.

Speaking to Class91.3FM’s parliamentary correspondent Ekow Annan after Parliament granted a $259 million tax concession to AngloGold Ashanti, Ghana, to enable it restructure and revamp its Obuasi underground mine which has been shut down since 2014, Mr Amewu said the audit will start before August this year.

“The Ministry of Finance is about signing the contract and we’re going to start before August.

“The operational audit, what it does is that it goes beyond the normal financial audit to more technical issues about the content of the gold, the amount that has been taken, the period, capital expenditure over the period and also looks at some of their operational expenditure and do a bit detailed analysis to establish whether we gained in terms of Government’s take or whether we have fallen short, and, of course, the companies would be called back for the difference if we have. That is why we need to do this…” he said.

The $259million tax waiver granted AngloGold Ashanti is expected to create between 2,000 and 2,500 jobs with expected earnings of about $5.3 billion in the next 22 years – remaining lifespan of the mine.

 


Source: ClassFMonline.com

More Lifestyle..

How Boxer Emmanuel Tagoe got to know his 14-year-old son is not his child How Boxer Emmanuel Tagoe got to know his 14-year-old son is not his child 2018-09-14 - YEN reported earlier the story of popular local boxer, Emmanuel...
Bank crisis: Your deposits are safe – UniCredit assures customers Bank crisis: Your deposits are safe – UniCredit assures customers 2018-09-13 - The management of uniCredit has called on its customers to remain...
Apple iPhone XS unveiled alongside fall-detecting Watch Apple iPhone XS unveiled alongside fall-detecting Watch 2018-09-13 - Apple has updated its iPhone X handset with three more powerful...
Kofi Amoah heads FIFA Normalization C’ttee to run Ghana football Kofi Amoah heads FIFA Normalization C’ttee to run Ghana football 2018-09-13 - FIFA has named Dr. Kofi Amoah as chairperson of a four-person...
Former England captain Terry turns down move to Russia Former England captain Terry turns down move to Russia 2018-09-13 - John Terry won 78 caps for England between 2003 and 2012 Former...