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Chamber of Mines wants 30% increase in royalties

chamberMinerals royalties to district assemblies must be increased to 30 percent from the present 10 percent to promote meaningful projects for the benefit of communities, the Public Affairs and Environmental Director of the Ghana Chamber of Mines, Ahmed Nantogmah has proposed.

“The communities’ share must be increased to 30 percent and tied to specific projects. The present 10 percent of the total royalties government allocates to mining communities is woefully inadequate,” he said.

Speaking in Accra at an Oil, Gas and Mining Course sponsored by the Natural Resource Governance Institute and Penplusbytes for selected journalists, Mr. Nantogmah called on regulators to ensure responsible mining by eliminating illegal mining.

The Africa Regional Social Responsibility Manager of Newmont, Emmanuel Ato Aubynn, said the biggest challenge for the company at present is how to strategise to survive in what he termed ‘the turbulent period of the industry.’

Source: B&FT

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