30% gold retention policy achievable – Gov’t

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The government says the thirty percent gold retention policy christened the National Assay Programme is achievable.

The Lands and Natural Resources Minister, Kweku Asomah-Cheremeh, who is on a working visit to some mining companies including the AngloGold Ashanti Iduapriem Mines in Tarkwa, said collaborative meetings are being held to reach a consensus on the implementation of the policy.

It is estimated that 90 percent of the gold mined in the country is exported without value addition.

Ghana stands to reap greater benefits in the mining sector than it is currently getting from relying on royalties and corporate taxes, if the country’s local content policy is fully implemented.

The Local Content and Local Participation Bill 2013, which was passed in November 2013, specifies that Ghanaians should be prioritized in terms of employment in the petroleum and extractive industries, and should benefit from the country’s resources.

 

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