Latest News Articles

DAILY GRAPHIC
Thursday 3rd July 2008

Mining destroys water in Obuasi area

A study, conducted by the third world network into the environmental impact of mining activities  at the Anglo Gold Ashanti Obusai  mine has revealed that a protracted period of historic mining and the more recent extensive surface mining operations have damaged the quality of water in the area.  The study indicated that the waters in the area were acidic, falling outside the environmental protection agency and the WHO range of standards for potable water.  

It said total suspended solids far exceeded accepted national and   international standards.  The most impacted communities according to the study were Kwabrafoso, Sansu, Anyinam, Dokyiwa and Binsere.

The presence of heavy metals such iron, arsenic, and manganese was particularly high in most streams sampled and added that arsenic values were between 10 and 38 times higher than levels  permitted by EPA general guidelines and 1,800 times higher that the WHO maximum allowable values.

GHANAIAN TIMES
Tuesday 1st July 2008

Oil drilling begins at Cape Three Points September

Vitol Upstream Ghana Limited, an oil exploration company at Cape Three Points in the Western Region, is expected to drill its first exploration well in September at an estimated cost of 42 million dollars. This follows the ratification by parliament of the Petroleum Agreement between the government of Ghana, the Ghana National Petroleum Company, and Vitol in respect of the off-shore Cape Three Points contract. 

The agreement provides for an exploration period of five years comprising an initial exploration period of two years and two extension periods totaling three years. Under the training and technical support component of the agreement, the contractor shall pay GNPC a total of 1.4 million dollars within 30 days of the effective date of agreement. Some of the minority members, in supporting the motion expressed the need to review the PNDC law 84 (Exploration and production law) to secure a better equity stake for the country which is currently 10 per cent.

DAILY GRAPHIC 
Tuesday 10th June 2008

Test of wells yield positive results
Oil – 120 barrels in a day

The test of the oil conducted by Kosmos Energy of the United States flared up 5000 barrels of oil. The test was successful and commercial production of oil is expected to begin in the first quarter of 2010. Production is expected to rise in 2012.

41 firms apply for exploration

The Ghana National Petroleum Authority Corporation says it has been flooded with applications from 41 foreign companies expressing their interest to invest in oil exploration in the country. 

PUBLIC AGENDA
13th June 2008

Increase funding to mining communities, gov’t urged. 

Dr. Toni Aubyn, Head of Corporate Affairs and Sustainable Development at Gold Fields Ghana has added his voice to the call that government should increase the amount of funds it allocates to mining companies from royalties paid by mining companies. He has advocated that government should pay more that the 30% of royalties from mineral extraction for infrastructure development of host communities.

The lack of adequate funds from central government for the development of the mining communities is the reason for sections of the public not appreciating the contribution of the mining industry t the socio-economic development of the nation.

Newmont gets green light to mine in forest
WACAM accuses minister of double standards

The Minister of Lands Forestry and Mines, Ms. Esther Obeng Dapaah has given clear indications that Newmont Ghana Gold Limited will be given a permit to commence operations at the controversial Akyem Ajenua Bepo forest by the end of the year. 

According to her, the commencement of the project will not only pave the way for land owners to get reasonable compensation for their crops, but make it possible for farmers to get annual grounds rent she had personally initiated. 

However, the Executive Director of WACAM, Mr. Daniel Owusu Koranteng, has described the government’s change of mind as very disappointing in the wake of a public forum scheduled for the 4th of July this year between company and shareholders. 

For the government to ahead and give Newmont the concession in spite of the many concerns raise by the communities is another example of ignoring the people’s concerns in making public policy. 

Gov’t urged to reconsider tax exemptions to mining companies

The General Secretary of the General Mine Workers’ Union (GMWU), Mr. Prince William Ankrah has called on government to reconsider the tax concessions given to mining companies that operate in the country. Instead of the nation benefiting from the tax exemptions the companies use the funds to employ expatriates. 

According to him, the country has passed the era in which for the sake of attracting investments very flexible terms and conditions are given to companies which wish to operate in the country. 

The time has come for us to derive the full benefits of gold and other resources that the country is endowed with.