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05.03.2009 Business & Finance

Mining Companies to be monitored

By gna
Mining Companies to be monitored

The Ministry of Lands Forestry and Mines will continue to explore, exploit and manage the country's mineral resources on sustainable and environmentally friendly ways.

Delivering the 2009 budget statement to parliament, Dr Kwabena Duffour, Minister of Finance and Economic Planning said to control the negative impact on communities bordering mining locations, the Ministry will continuously monitor all mining operations as well as exploration companies to ensure compliance with the requisite mining agreements.

The Ministry, he said would encourage the diversification of the mineral base to reduce over-dependence on few precious minerals. In this connection, the result of the airborne geophysical survey and the geological maps would be packaged for investors.

Dr Duffuor said the Ministry would improve the relationship between mining companies and mining communities. Activities to be pursued include organising regular meetings with mining NGOs and civil society organizations, radio discussions on FM stations to disseminate information to ensure successful implementation of alternative livelihood projects in mining communities.

“Government will continue to address social issues in mining

communities, including equitable distribution of mining revenues.

The Ministry will draft guidelines on the use of mineral royalties

by District and Municipal Assemblies and undertake surveys to

establish baseline data on social conflicts in mining communities.”

For the implementation of the above activities, an amount of GH

¢80,034,267 has been allocated. Out of this, GoG is GH ¢14,097,316 IGF is GH ¢37,518,900 Donor is GH ¢18,418,052 and HIPC is GH ¢10,000,000.