The president of the Chamber Kwame Addo-Kufuor said the proportion of funds that is injected into mining communities for development is disappointing even though the mining companies pay the right amount of revenue to government.
The president of the Chamber Kwame Addo-Kufuor said in an interview with Accra-based Citi FM that the proportion of funds that is injected into mining communities for development is disappointing.
He said the mining companies pay the right amount of revenue to government in order to help the mining companies amongst others.
“In 2016, mining companies paid mineral royalty in the amount of GHS550 million to the government.[But] the proportion of the total mineral royalty which goes directly to the fourteen District Assemblies in whose jurisdiction mining takes place represents only 4.95 percent of mineral royalty payments,” he said.
“This implies that only GHS27 million is expected to be returned to district assemblies for development. This amount is woefully inadequate for the stimulation of infrastructural development in the mining communities,” he added.
However Addo-Kufuor said he was optimistic government will reconsider its level of investment in the mining communities.
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He said pronouncements made by the Minister for Lands and Natural Resources, John Peter Amewu, has given him some assurance there will be a change.
“We are comforted by the Hon. Minister’s publicly stated commitment to increase the overall proportion of royalty revenue ploughed back to the mining communities to 20 percent from a gross 10 percent”.
“We are expectant that this will be translated into an increase in the share of revenue ceded to the communities and are willing to work with the ministry to implement this proposal.”