Mining Consultant, Wisdom Edem Gomashie has urged the government to ensure proper financial compensation to distressed companies to avoid legal tussles and the payment of avoidable judgement debts.
Citing examples in the Democratic Republic of Congo (DRC), in which the government lost and had to pay huge financial compensation to some mining companies Edem Gomashie says Ghana must endure due diligence in the takeover of mining leases and business adoption by the government.
Speaking in an interview on Green Gold TV, regarding a directive from the Lands and Natural Resources Ministry to halt operations of Heath Goldfields at the Bogoso-Prestea mine site, the mining Expert noted that government can never boast of a cost effective mining sector without a decentralized licensing system.
Ing. Wisdom Edem Gomashie told on Green Gold TV that the high maintenance cost of mining machinery and the accompanying statutory payments crippled mining companies in Ghana.
The cautionary notice to Heath Goldfields to halt business hinges on unsatisfactory operations of operational protocols, Regulatory compliance and administrative procedures pursuant to the Minerals and Mining (Health, Safety and Technical) Regulations 2012, L. I. 2182.
He revealed that a viable small scale mining company needs a start up capital of $2Million to operate in Ghana and advised the”Goldbod to tread cautiously in its operations to avoid an unwanted insurrection of miners who have been directly affected by its work.”
Source: www.kumasimail.com / Richmond Antwi Boasiako
