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$5 billion missing from Ghana’s gold exports to UAE

About $5 billion from Ghana's gold exports to UAE were unaccounted for last year.

The revelation was made by President Akufo-Addo during his 2 encounter with the media at the Flagstaff House on Wednesday, January 17, 2017.

Questioned on when the ban on small-scale mining will be lifted, the President said there was more to be done to ensure the fight against illegal mining is completely won.

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He explained that whiles Ghana has made huge strides with regards to preventing more lands and river bodies from being destroyed, some unscrupulous persons were also criminally disposing the nation off the value from the minerals.

According to him, Ghana’s estimated gold exports to the UAE amounted to over $7 billion, per information from the Asian country, however, official records suggest only $2 billion was accounted for in the government coffers.

“Official records are talking about $2 billion [out of the $7 billion]. These are the facts,” he said.

He added: “I believe that the fight against galamsey is by no means won. We still have a long way to go… I am saying this because, at the same time, some of the outcomes of the galamsey menace in our country are not sufficiently addressed or articulated.

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“…So it is telling you that apart from the harm that this activity is doing to our country, much of the value that our nation should derive from these activities are also being criminally disposed off.”

Speaking on when the ban on small-scale mining will be lifted, President Akufo-Addo said he could not readily confirm but assured that a decision will be taken after he meets with his advisors next week.

According to him, the outcome of the meeting would tell “if the time is ready for the lifting of the ban”.

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