Ghana’s Economy Suffering Amid Illegal Mining Activities?

Source: NEWSGHANA

The Chamber thus issued a warning that Ghana could lose “heavily” if their activities are allowed to fester ahead of the election in November.

A statement issued by the Chamber and copied to News Ghana, the Chief Executive Sulemanu Koney said, the recent invasion of AngloGold Ashanti’s Obuasi mine showed how illegal miners could drive away investors in the industry.

The Chamber said “There is a clear and present danger to our environment and to Ghana’s economy, as illegal miners fight large-scale mining companies for concessions the latter have obtained legally.”

Mr Koney. also stated that “This, in itself, breeds a sense of insecurity and fear among investors which will cause a slowdown in investment in the country’s mineral sectors.”

He mentioned that the country earns next to nothing from the activities of these illegal miners and that only a few unscrupulous individuals benefit from it.

“It is no secret that the government loses significant amounts of fiscal revenue every year as a result of such illegal mining activities. Apart from projecting a bad image for the entire mining sector, the repercussions to the environment are ominous. If the activities of the illegal miners are not nipped in the bud it would undermine Ghana’s efforts at attracting and sustaining the much needed investment into the mining industry,” Mr Koney said.

The Chamber also pointed out that other mining companies which employ thousands of Ghanaians, are compelled to use all legal means to evict the illegal miners from their concessions, with the help of the security apparatus, which often resulted in violent confrontations leading to injuries and destruction of property.

He cautioned government to intervene and ensure the situation is stopped.

 

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