About GH ¢ 180 million cedis paid
to government in 2008 by Mining companies
Sunyani, May 7, Ghanadot/GNA – The mining industry paid GHC
179,978,383 representing 14 percent of total revenue collection, as royalty to
the government in 2008.
Miss Joyce R. Aryee, Chief Executive Officer of the Ghana Chamber of Mines, who
disclosed this, said irrespective of the profitability of a mine, three percent
of its gross revenues are paid to the state.
She was interacting with media practitioners in Sunyani on Wednesday as part of
a working visit to mining companies in the country.
The objectives of the interaction among other things were to enhance positive
public perception of the mining industry and to educate the public on the
Chamber’s role in the mining industry.
Miss Aryee explained that the gross revenue of mining companies increased as a
result of the healthy price of gold, increasing the quantum of money that the
companies paid to the government.
On the allocation of mineral revenue for 2008, the CEO said the mining industry
returned a total of 63 percent of mineral revenue to Ghana, out of which six
percent was paid to the government at the national and district levels in the
form of royalties.
Miss Aryee said 10 percent was paid to the Volta River Authority and Electricity
Company of Ghana for electric power purchased and 13 percent was paid to Shell
and Total fuel companies for diesel fuel purchased.
In addition to the cost of fuel, mining companies paid about GHC 73 million
(three percent of mineral revenue) as taxes, levies and duties to the government
as well as margins to oil marketing companies, she said.
Miss Aryee explained that the Chamber does not condone illegal mining and its
related activities and “does not aid any persons related to this act”, adding
that, the Chamber, however, supported licensed small-scale mining.
She explained that under the auspices of the Chamber, the mining industry
continued to actively pursue proactive strategic relationships with its major
stakeholders with the purpose of creating the right basis for addressing key
issues relating to the role of mining in national development.
The CEO used the occasion to launch the 81st Annual General Meeting of the
Chamber, which is under the theme, “Mining and Sustainable Development: Meeting
Inter-generational Challenges”, scheduled for May 29, in Accra.
As part of the meeting, an exhibition will be held from August 26-28 as well as
other activities including a public lecture on the theme and an essay writing
competition.
Giving a brief history, Miss Aryee said the Chamber was started as West African
Chamber of Mines in 1903 but in June 1927, the Gold Coast Chamber of Mines was
incorporated as a private company and operated from Tarkwa in the Western
region.
After Ghana’s independence, the name was changed to Ghana Chamber of Mines and
was converted under the companies code 1963 (Act 179) into a company that is
limited by guarantee.
GNA
