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Chamber of Mines urges law to regulate revenue from mining

miningThe Ghana Chamber of Mines has called on government to pass a law similar to the Petroleum Revenue Management Act passed to regulate the oil sector.

Chief Executive Officer of the Chamber, Sulemanu Koney, says the law will address the non-transparency associated with utilization of revenue generated from the sector.

“Essentially what we are calling for is more transparency. We’ve been mining in this country over a century. Mining is the backbone of the economy. Not long ago we found oil and we found reason to ensure that we have transparency in the utilization and tracking the flow. Is it that oil and gas is important than mining?” he quizzed.

Mr Koney disclosed this to Myjoyonline.com’s Austin Brakopowers on the sideline of the Zone 3 Safety and First Aid Competition held at Tarkwa under the auspices of Ghana Manganese Company (GMC), Ghana Chamber of Mines and the Minerals Commission.

He cited Tarkwa and Obuasi both mining areas as examples of communities in the country that lack development.

He believes this would not have been the case had government been mindful, judicious and transparent in its use of revenues generated from the sector.

Mr Koney says the refrain has often been how the nation is benefiting from its rich resources because people are not told how the money is used for.

“Once you have more sunshine on the utilization of revenue we would be better placed to ensure that they are used judiciously,” he said, asking government to show what it has been using the revenue of the nation for.

The money goes through the budget and gets lost without proper documentation, he said.

The resources, he said, are finite and the nation has to be careful of the way they are used.

Source: http://www.myjoyonline.com/business/2016/August-30th/chamber-of-mines-urges-law-to-regulate-revenue-from-mining.php

 

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