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Press Release – 10th February, 2015 - Ghana launches 2012 and 2013 EITI Reports |
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Accra, February 10, 2015.
The National Multi-stakeholder Steering Committee of the Ghana Extractive Industries Transparency Initiative (GHEITI) has today formally launched the country’s 2012 and 2013 mining, oil and gas EITI audit reports, released on December 27, 2014. The two reports bring to ten, the total number published since Ghana acceded to the initiative in 2003. The 2013 report is the third for the oil and gas sector.
The reports, which are published in conformity with the EITI standard adopted by the Sydney Global EITI Conference in 2013, goes beyond the mere reconciliation of payments and receipts, to include contextual information such as summary description of the legal framework and fiscal regime, the sector’s contribution to the economy, production data; state participation in the extractive industries; revenue allocations and the sustainability of revenues, license registers and license allocations; as well as information on beneficial ownership and contracts.
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African governments leave mining vision in the cold |
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African governments have relegated the implementation of the African Mining Vision (AMV) to the back burner after it was unanimously adopted in 2009 by African Heads of State. The ECOWAS Mineral Development Policy (EMDP), a related document, has also suffered a similar fate. The AMV, according to experts, is the most ambitious national, sub regional and continental mining reform framework that has been developed in Africa in recent years.
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GHEITI Technical Round Table On Implementation Of The Guidelines For The Utilisation Of Mineral Royalties |
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It is a great pleasure for me to make this few opening remarks at this important workshop on the implementation of the Guidelines for the utilization of the Minerals Royalties that government sends back to districts and communities impacted by mining.
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Expert advocates reforms for extractive industry |
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A SENIOR Mineral Sector Governance Advisor in charge of the African Mineral Development Centre of the UN Economic Commission for Africa, Dr. Kojo Busia, has called for strong policy reform in Africa's extractive sector.
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Newmont Ghana committed to supporting economic growth In Ghana |
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Newmont last year retained in Ghana almost 80% of its earnings from gold sales
Newmont Ghana has announced that almost 80% of its earnings from gold sales were retained in the country in 2012, contrary to some recent claims.
The earnings retained in Ghana were spent on corporate taxes, local contractors and vendors, wages and benefits and land access. The remaining 20% was spent on offshore debt payments, heavy equipment and other offshore purchase.
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