I have not read the full report and so that is a caveat I would want to give before the comment,
The report however appears quite unusual in that it compares the taxes and royalty paid to revenues. What the report perhaps ... read full comment
I have not read the full report and so that is a caveat I would want to give before the comment,
The report however appears quite unusual in that it compares the taxes and royalty paid to revenues. What the report perhaps has not factored into account is the operating expenses of the mine as well as development cost of the mine which has to be recovered by the mine operator within the operational life of the mine as mining is not a renewable project.
It may well be true that Ghana is not benefiting fully from the operations of foreign miners but the way to resolve it is not sensational reports that clearly have a bias.
kay 8 years ago
Gues one will need 2013 to 15 budget statement inni .....
Gues one will need 2013 to 15 budget statement inni .....
harry 8 years ago
Clearly the African Center for Energy Policies got this wrong and inadvertently exposed its politically biased nature. For starters, mining is not within the domain of the center given its focus on energy policies.
Second ... read full comment
Clearly the African Center for Energy Policies got this wrong and inadvertently exposed its politically biased nature. For starters, mining is not within the domain of the center given its focus on energy policies.
Secondly taxes are based on profits and not revenues. ACEP should tell us anywhere in the world that companies pay taxes based on revenue.
Finally, ACEP forgot that Newmont started operating in Ghana in 2006 when NPP was in government. So ACEP which is run by former NPP appointees should not throw dust into peoples eyes.
Branim 8 years ago
unless you have something to hide, that is the biggest load of crock and pitiful feedback on this article. Why the reference to NPP? This is a serious indictment on our laws and a reflection on Gold mining in Ghana. Where is ... read full comment
unless you have something to hide, that is the biggest load of crock and pitiful feedback on this article. Why the reference to NPP? This is a serious indictment on our laws and a reflection on Gold mining in Ghana. Where is Asantehene on this issue? he better speak up
harry 8 years ago
Branim, all the issues i raised are matters of fact, hence not crock or pitiful. If you have any facts to the contrary, bring it on.
Branim, all the issues i raised are matters of fact, hence not crock or pitiful. If you have any facts to the contrary, bring it on.
Wahalla 8 years ago
They want to turn gold mining into Ghana business just like ECG or Ghana Water. You have some gold one day but not for the next 3 days.
If they don't make big profit one year where is the money to invest in the mine coming ... read full comment
They want to turn gold mining into Ghana business just like ECG or Ghana Water. You have some gold one day but not for the next 3 days.
If they don't make big profit one year where is the money to invest in the mine coming from... Oh they will ask Mahama to borrow them some..Then when they can't pay back the loan the business collapse
Lawless Law criminal Jay Ray Allen 8 years ago
Taxes are based on profit and not on revenue, it would have been better if we had more information on profit with less emphasis on revenue or output. Royalties on the other hand are based on output at a specified rate. Unfort ... read full comment
Taxes are based on profit and not on revenue, it would have been better if we had more information on profit with less emphasis on revenue or output. Royalties on the other hand are based on output at a specified rate. Unfortunately, there is no mention of the rate of royalties. It may be possible that all the said 1.7 billion is from royalties and no taxes were paid and vice versa or both .Are we lazy or dumb? Here we are with a Nigeria woman as our Electoral Commissioner. A simple background check would have resolved this issue.
GoodMan 8 years ago
THE RESOURCES ARE OURS.IF WE CAN'T MANAGE THEM OURSELVES OTHERS WILL DO THAT AND GIVE US SOMETHING VERY LITTLE.NO NEED TO COMPLAIN
THE RESOURCES ARE OURS.IF WE CAN'T MANAGE THEM OURSELVES OTHERS WILL DO THAT AND GIVE US SOMETHING VERY LITTLE.NO NEED TO COMPLAIN
Haba 8 years ago
"...which is the value of gold produced in the country from 2016 to 2013,...". Proof reading, where art thou?
"...which is the value of gold produced in the country from 2016 to 2013,...". Proof reading, where art thou?
Boss 8 years ago
People would need to be familiar with the investment deal Newmont got from the government in relation to tax breaks etc. No other mining company got such a deal. Ghanaians were truly ripped off
People would need to be familiar with the investment deal Newmont got from the government in relation to tax breaks etc. No other mining company got such a deal. Ghanaians were truly ripped off
mcgirke 8 years ago
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make ... read full comment
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make only a minimal profit off of their own natural resources. On Ghanaweb people love blaming every little thing on political parties, but whether it was NPP or NDC or whoever unless they're ready to go to war (with our international oppressor, not each other) the situation would still be the same. Many of such deals were signed way back in Rawlings time, before there was an NDC or NPP.
mcgirke 8 years ago
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make ... read full comment
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make only a minimal profit off of their own natural resources. On Ghanaweb people love blaming every little thing on political parties, but whether it was NPP or NDC or whoever unless they're ready to go to war (with our international oppressor, not each other) the situation would still be the same. Many of such deals were signed way back in Rawlings time, before there was an NDC or NPP.
I have not read the full report and so that is a caveat I would want to give before the comment,
The report however appears quite unusual in that it compares the taxes and royalty paid to revenues. What the report perhaps ...
read full comment
Gues one will need 2013 to 15 budget statement inni .....
Clearly the African Center for Energy Policies got this wrong and inadvertently exposed its politically biased nature. For starters, mining is not within the domain of the center given its focus on energy policies.
Second ...
read full comment
unless you have something to hide, that is the biggest load of crock and pitiful feedback on this article. Why the reference to NPP? This is a serious indictment on our laws and a reflection on Gold mining in Ghana. Where is ...
read full comment
Branim, all the issues i raised are matters of fact, hence not crock or pitiful. If you have any facts to the contrary, bring it on.
They want to turn gold mining into Ghana business just like ECG or Ghana Water. You have some gold one day but not for the next 3 days.
If they don't make big profit one year where is the money to invest in the mine coming ...
read full comment
Taxes are based on profit and not on revenue, it would have been better if we had more information on profit with less emphasis on revenue or output. Royalties on the other hand are based on output at a specified rate. Unfort ...
read full comment
THE RESOURCES ARE OURS.IF WE CAN'T MANAGE THEM OURSELVES OTHERS WILL DO THAT AND GIVE US SOMETHING VERY LITTLE.NO NEED TO COMPLAIN
"...which is the value of gold produced in the country from 2016 to 2013,...". Proof reading, where art thou?
People would need to be familiar with the investment deal Newmont got from the government in relation to tax breaks etc. No other mining company got such a deal. Ghanaians were truly ripped off
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make ...
read full comment
This is what I think is referred to as "neocolonialism." I learned about this long before ever coming to Ghana, and it's true; most African countries, whether through coercion, bribery, weak leadership or what have you, make ...
read full comment