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28.07.2005 General News

Chamber of Mines donates to institutions


Accra, July 28, GNA - Mr Mike Ezan, President of the Ghana Chamber of Mines, on Thursday said corporate social responsibility contributions to host communities by mining companies between 2003 and 2004 amounted to 155.3 billion cedis.

He said these contributions were usually voluntary and were made in addition to statutory payments such as royalties and other taxes. For instance, he said, in 2003/04 the Chamber made a total of 414.1 billion cedis as royalty payment while at the same period it paid dividend amounting to 111 billion cedis to the Government. Mr Ezan said this when the Chamber of Mines donated a total of 78 million cedis to nine institutions.

The institutions were the Korle-Bu Endowment Fund; Ghana Heart Foundation; Komfo Anokye Hospital Endowment Fund; Ghana Medical Students Association; Police Endowment Fund; Ghana National Trust Fund; Women in Technical Education; School of Nursing, University of Ghana, Legon, and Students in Free Enterprise.

Mr Ezan said the Chamber of Mines' corporate social responsibility concept sought to promote a vision of business accountability to its wide range of stakeholders.

"Mining alone contributed over four per cent to the country's Gross Domestic Product (GDP). On average over 60 per cent of all proceeds from mineral proceeds are retained in the country."

Mr Ezan said less than two per cent of the entire landmass of Ghana was under active mining and the important issue was how the impact of mining could be managed in a sustainable manner so that generations yet unborn would not be deprived of their source of livelihood.

Mr Ezan said in response to new legislation, technology and environmental concerns, the industry had reformed itself and there were no companies in the Chamber that were not fully committed to protecting the environment and contributing significantly to the communities around them.

"The modern concept of mining is to operate in such a way that when a mine finally closes down, more than just a hole in the earth is left behind."

Mr Kwame Frimpong, Public Relations Officer of Komfo Anokye Teaching Hospital, who spoke on behalf of the beneficiaries, said the money would be used well.

He said with respect to the Komfo Anokye Teaching Hospital, it would go a long way to provide quality health care to people in the Northern sector of the country. 28 July 05