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Goldfields pays US$10.3m dividend to govt PDF Print E-mail

GOLDFIELDS Ghana has presented a cheque for US$10.3m as dividend for the 2013 financial year. The amount is government's carried interest in the Tarkwa and Damang goldfields, which is operated by the mining company. The Executive Vice-President (EVP) and Head of West Africa of Goldfields, Mr Alfred Baku, said despite several challenges facing the mining sector, Goldfields continued to keep its commitment to government.

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Mining And The Pursuit Of Mutual Interests PDF Print E-mail

The question as to whether or not mining has been beneficial to host countries, will certainly linger on for a while. While civil society activists and anti-mining lobby groups argue that in spite of the rhetoric, mining companies leave host economies worse off, and communities dispossessed of traditional livelihoods, industry players want us to believe that mining is the best thing that ever happened to a nation.

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Mining Companies Struggle To Survive PDF Print E-mail

The fortunes of mining companies world-wide are on the decline with some closing shop as a result of the collapse of gold prices, and in the face of increasing demands from host countries for higher rents from the industry to support their development efforts, Mr. Alfred Baku, Executive Vice President, of Goldfields West Africa has stated.

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Italian oil giant, EN!, is set to become the first and the only upstream oil and gas company operating in Ghana's offshore exploration area to comply with the Fisheries Act of 2002 ( Act 625) by undertaking a Fisheries Impact Assessment (FIA) for its offshore project area.

Other companies at various stages of exploration and production, including Tullow, Kosmos and partners, have so far refused to comply with the requirement to undertake a fisheries specific impact of their activities. Information sourced from the Civil Society Platform on Oil and Gas suggests that Eni¬-Ghana Exploration and Production Limited is currently conducting a FIA as the company readies itself to develop its Offshore Cape Three Points (OCTP) blocks.

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Anglogold: Retrenchment painful but neccessary PDF Print E-mail

Anglogold Ashanti (AGA) says the retrenchment programme being undertaken at the Obuasi mine is a painful but a necessary measure to avoid liquidation and ensure the long term viability of the mine. “Given the state of the mine, the choice is to either endure short-term pain for long-term viability and profitability or we go for liquidation, which is not in the interest of our business and social partners and, for that matter, Ghana as a whole,” a senior Manager, Communication and Public Affairs at AGA, Mr. John Owusu, told the Daily Graphic in Accra.

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