Ghana's Chamber of Mines demand for proceeds from minerals to benefit local communities

14/01/2013

The Ghana Chamber of Mines wants proceeds realised from the country's mineral wealth to benefit local communities.

And the Chamber is now advocating for a national mining vision and policy to direct and regulate the inflows from that sector into proper development projects.

"Due to lack of a clear policy direction the country and particularly host communities feel neglected from benefiting from minerals extracted from their areas," said Dr. Toni Aubynn, the Chief Executive Officer of the Chamber. 

The Ghana media reported today that Dr Aubynn who was speaking to Journalists in the Western Region noted that although 80 per cent of all mineral proceeds ended up at the door of central government, only 10 per cent was used for projects in affected communities.

He said the lack of visible infrastructure development in host communities had provoked agitation in host communities that sometimes resulted in conflicts.

Dr. Aubynn said in 2011, mining companies paid about US$ 3.1 billion, representing 75 per cent of mineral revenue through the Bank of Ghana and the commercial banks against the statutory requirement of 25 per cent.

The Ghana Chamber of Mines also wants a Minerals Revenues Fund to be established just like the Petroleum Revenue Fund to be channeled into specific areas of development - MGW.

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