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07.08.2005 Business & Finance

Mining companies contribute C155.3bn in social responsibilities

By GNA

Kumasi, Aug. 7, GNA - Mining companies operating in the country contributed 155.3 billion cedis as their corporate responsibilities to the communities in which they operated between 2003 and 2004 alone. Royalty payments for the same period amounted to 414.1 billion cedis while dividend payment over the same period amounted to 111 billion cedis.

These were announced by Miss Joyce Aryee, Chief Executive Officer of the Ghana Chamber of Mines at a network meeting with the media in Kumasi at the weekend.

She reiterated that mining alone contributed over four per cent of the country's Gross Domestic Product (GDP) and that on the average, over 60 per cent of all mineral proceeds was retained in the country. Ms Aryee said the Chamber's mission was to represent the mining industry, which was a private sector organisation in the country using the resources and capabilities of its members to deliver services that addressed members, government and community needs in order to enhance development.

She said as part of the mission, the principles that would guide their decision making which as members of the chamber they would not compromise whilst achieving the mission and pursuing the vision were, honesty, transparency, good governance, good corporate citizenship, commitment and unity.

"The mining industry seeks to be a good corporate citizen respecting the laws of the countries in which we operate. We aim to make the communities in which we work better places to live and do business; we also aim to be sensitive to the local community's cultural, social and economic needs as well as protecting and preserving the environment in which we operate".

In addition to these, Ms Aryee said, the industry was committed to the observance of human rights in its operational areas, adding that respect for human rights and good corporate citizenship principles laid at the heart of the mining industry's values.

"The mining industry is very much aware that it is only through responsible social behaviour and due consideration for the environment, its employees and the host communities in which they operate that it will obtain the indispensable social license necessary for sustainable mining operations".

In that case, she said, no mining company would deliberately undertake activities that would impugn on the freedom and well being of mining communities.

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