Ghana Extractive Industry Transparency Initiative

Minister Encourages Aboso Goldfeilds

Ms Sherry Ayittey, Minister of Environment, Science and Technology, has commended the Aboso Goldfields Limited (AGL), Damang in the Western Region, for honouring its corporate social responsibility. This follows a working visit to Damang on Friday during which she assessed the company's operations and projects for the community.
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First EITI Audit Report on Ghana’s Oil Set for this Year

By Frederick Asiamah

Ghana is set to produce its first report on payments of taxes by oil companies to government under the Extractive Industries Transparency Initiative (EITI) this year. Mr. M. Bashiru Abdul-Razak of the Ghana EM (GHEITI) Secretariat, who disclosed the information at a meeting in Accra, also hinted Public Agenda that managers of the process anticipate that the aggregator (consultant" would complete his work by August, allowing for the launch or the report before the close of 2012.

Experts call for local content compliance in mining - as multinationals are accused of sabotaging locals

Ghana stands to reap greater benefits from improved local procurement in the mining sector than it is currently getting from relying on royalties and corporate taxes; various experts have stated in the light of centuries of exploitation of the mineral resources of the country without much to show for it. The World Bank, the Ghana Chamber of Mines, Civil Society Organisations (CSOs) and academics agree that when mining companies buy more local goods and services than they are presently doing, the country will gain over fourfold more than it is garnering from royalties from multinational miners.

Transparency in petroleum sector still questionable- lEA

By Frederick Asiamah

The Ghana government is still far from excellent performance as far as transparency in the petroleum sector is concerned, according to a new report by the Accra-based think tank, the Institute of Economic Affairs (IEA). In its Petroleum Transparency and Accountability Index (IEA P- TRAC Index), which monitors progress made in respect of the transparent management of the oil and gas sector in the year 2011, the IEA scores government 59.7%, which is just below the B+ grade if the grading system of the School of Research and Graduate Studies of University of Ghana were used as a yardstick.

Room for more transparency in the oil industry-IEA survey

By Kofi Yeboah

TRANSPARENCY in Ghana's oil and gas industry is not the best, a report measuring the level of transparency in the industry in 2011 has indicated. The overall score for transparency in the industry in the country was measured at 59.7 per cent, with transparency in oil and gas funds recording even a lower average score of 44 per cent, according to the Institute of Economic Affairs (IEA) Petroleum Transparency and Accountability Index (IEA P-TRACK INDEX).

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