Wednesday, 1 June 2011
Ghana predicts improved gold output for 2011
Speaking at the Chamber's 83rd AGM, chamber president Dan Owiredu said that the production of manganese and bauxite should increase in 2011 and that cumulative mineral revenue is predicted to rise in 2012. “The expected higher volumes of mineral production and the strengthening of gold price is expected to result in increased mineral revenues, with a corresponding increase in mineral royalties and corporate tax payment to government,” he said.
Owiredu said that the greatest challenge facing the industry in 2011 was illegal mining, which forced gold mining companies to spend huge sums of money to secure their concessions. Minister of Lands and Natural Resources, Mike Hammah, said that the government was looking for creative ways to tackle illegal mining, and said that areas designated by the government for small-scale mining should help reduce the problem.
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