The Ghana Chamber of Mines has expressed concerns over certain agreements and contracts signed between the government and various entities, describing them as detrimental and unhealthy for the extractive sector.
The chamber emphasises that these agreements are significantly impacting the operations of its members and hindering sectoral growth.
Mr Sulemanu Kone, the Chief Executive Officer, highlights the importance of engaging in a roundtable discussion involving the government and other stakeholders to safeguard the sector’s interests and drive economic growth.
During the launch of the 2023 Ghana Extractive Industries Transparency Initiative (GHEITI) report, Mr Kone emphasised the necessity of implementing robust policies to support the extractive sector.
He stressed the criticality of upholding the security and sanctity of agreements, stating, “We have a situation where companies have investment agreements that freeze their fiscal terms. These are serious matters. I know we are in a difficult time, but this is what we should be having a conversation about.”
He further adds, “We are just ignoring all these, which is affecting the extractive sector and making it unhealthy.”
The GHEITI reports are intended to raise public awareness, stimulate interest, and facilitate debate on issues pertinent to the extractive sector. The initiative encourages collaboration among the government, extractive companies, international agencies, and NGOs to develop a framework that promotes transparency in payment disclosures within the extractive industries.
