Mining industry records increases in mineral revenue

Kumasi, July 20, GNA - The mining industry recorded an increase in mineral revenue from 798 million dollars in 2004 to

995 million dollars in 2005. It thus contributed about 13 per cent of all Internal Revenue

Service collections in 2005. It also retained about 48 per cent of the nation's export

earnings in 2005 to support their operations and also fulfill

their retention obligations to the Central Bank. Miss Joyce Aryee, Chief Executive Officer of the Ghana

Chamber of Mines, made these known when members of the

Chamber paid a courtesy call on the Ashanti Regional Minister,

Mr Emmanuel Asamoah Owusu-Ansah at his office in Kumasi

on Tuesday. The visit was to interact with the Minister and brief him on

some of projects and achievements made by the mining

companies in their areas of operations. Miss Aryee said the increases in the mining sector were

on the account of improvements in the realistic prices as well

as outputs of all minerals. She said bauxite production increased from 498,060

tonnes in 2004 to 726,608 tonnes in 2005 while manganese

output increased from 1,593,778 tonnes in 2004 to 1,714,797

tonnes in 2005. The Chief Executive said manganese prices went up by

18.49 per cent whilst bauxite prices increased by 16.37 per

cent. Diamond prices went up by 14.54 per cent and gold

prices gained 9.3 per cent. Miss Aryee said mining companies had also contributed

immensely to the socio-economic development of the

communities in their areas of operation and mentioned the

handing over of the properties of the Obotan Mine Project by

the Resolute Amansie Limited to the government and

appealed to the Regional Co-ordinating Council to play a role

in determining how the facilities would be utilized. Miss Aryee urged the government and the Town and

Country Planning Department to develop strategic plans for

the mining areas. She expressed concern about the activities of illegal miners

and called on the Regional Minister to assist the companies to

flush them out. Mr Owusu-Ansah commended the mining companies for

their immense contribution to the growth and development of

the country's economy. He said illegal mining activities had continued to be a

source of worry to both mining companies and the government

and that there was the need to find a sustainable measures

that would stem the practice. He said the Regional Co-ordinating Council would work to

ensure that the environment was not destroyed as a result of

illegal mining activities.