Gold-for-Oil Program Labeled a Failure Amid Rising Fuel Prices
Kodzo Yaotse, Policy Lead for Petroleum and Conventional Energy at the Africa Centre for Energy Policy, has delivered a scathing verdict on the Gold-for-Oil program, calling it a failure. In an interview, Yaotse pointed to significant losses incurred and fuel prices continuing to rise, despite the program’s suspension. Apexnewsgh reports Yaotse laid the blame squarely on the previous government, citing their failure to establish a specialized department with experts to effectively manage the program. This lack of oversight, he argued, led to the program’s downfall. Now, Yaotse is calling on the governor to produce a detailed report outlining what went wrong and the full extent of the losses incurred. To mitigate the rising fuel prices, Yaotse urged the government to take immediate action. He recommended stabilizing the currency and rationalizing taxes on petroleum products. These measures, he believes, would help control prices and alleviate the burden on consumers. The Africa Centre for Energy Policy has issued a statement on the matter, emphasizing that the charges incurred are ultimately passed on to consumers and should be reconsidered. As the debate surrounding the Gold-for-Oil program continues, one thing is clear: urgent action is needed to address the rising fuel prices and stabilize Ghana’s energy sector. Source: Apexnewsgh.com
JUST IN: 73 Illegal Miners Arrested as Upper East Regional Minister leads Crackdown
Upper East Regional Minister, Hon. Akamugri Donatus Atanga, spearheaded a joint security operation targeting illegal mining activities in the Tilli Forest Reserve. Apexnewsgh reports The operation, which took place on February 4, 2025, resulted in 73 arrests, including infants, and the seizure of mining equipment. The raid was prompted by a complaint from Naba Sigri Bewong, chief of Sakoti in the Nabdam District, who reported foreign miners invading the reserve. Hon. Akamugri explained that the Regional Security Council (REGSEC) meeting was convened to verify the paramount chief’s claims. “We have seen that there is some mining in the river itself. Some people are actively doing mining in the river,” he said. The operation, conducted by a team of police, military, and immigration officers, uncovered a significant amount of mining equipment, including air compressors, drilling machines, motorbikes, and gold-processing equipment. Among those detained were 27 Togolese, two Burkinabes, and 41 Ghanaians. Hon. Akamugri emphasized that forest reserves are not meant for economic activities, and illegal mining is unacceptable. “Forest reserves are not places for anyone to trade any economic activity except for the purpose for which they were reserved. So illegal mining is unacceptable. Any mining is not accepted,” he stated. The Red Volta River, which connects to the White Volta, has suffered significant environmental damage due to the illegal mining operations. The regional minister’s efforts aim to protect Ghana’s natural resources and preserve the environment for future generations. Source: Apexnewsgh.com
Ghana Mine Workers Union Clashes with Precious Minerals Marketing Company over Staff Terminations
The Ghana Mine Workers Union has expressed strong dissatisfaction with the management of the Precious Minerals Marketing Company (PMMC) over plans to terminate the employment of approximately 50 staff members. Apexnewsgh reports This move follows a government directive ordering the termination of appointments made after December 7, 2024. According to Abdul Moomin Gbana, General Secretary of the Ghana Mine Workers Union, the union has initiated discussions with PMMC management to address the issue. Gbana emphasized that the union will strongly oppose any action that contravenes labor laws. “We’ve told PMMC that they must ensure their actions align with the law. Anything contrary to the law will be resisted by the Ghana Mine Workers Union,” he stated. The union’s stance is clear: despite the questionable timing of the recruitments, the current government should not repeat the same mistakes. With the union’s history of advocating for workers’ rights, this development is likely to escalate into a full-blown labor dispute if not handled carefully. Source: Apexnewsgh.com
Ghana Moves to Combat Gold Smuggling and Boost Economic Revitalization
Leadership of the Ghana Association of Forex Bureau paid a courtesy call on Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC), on Tuesday, February 25. Apexnewsgh reports The meeting explored the possibility of a partnership between the two agencies to combat gold smuggling and stabilize the national currency. According to Sammy Gyamfi, the discussion was insightful and fruitful, with both parties agreeing to further engage and seek collaboration from the Bank of Ghana and Finance Ministry. This partnership aims to revitalize Ghana’s economy, which is a top priority for President John Dramani Mahama. In a related development, the technical committee tasked with establishing the Ghana Gold Board continues to engage stakeholders. The committee, led by Sammy Gyamfi, is working to develop a legal and operational framework for the Board, which will regulate and oversee Ghana’s gold marketing industry. The Ghana Gold Board is expected to play a critical role in economic revitalization by resetting the gold marketing industry, promoting transparency, and ensuring ethical gold trade. The Board will also support small-scale miners and boost revenue for the government. With the establishment of the Ghana Gold Board, Ghana is poised to transform its gold industry, promote economic growth, and strengthen its national currency. Source: Apexnewsgh.com
President Mahama Shifts Gears in Fight Against Galamsey
In a bold move to combat the scourge of illegal small-scale mining, commonly known as galamsey, President John Dramani Mahama has issued a directive to the national task force to seize excavators used in such operations rather than destroying them. Apexnewsgh reports This strategic shift, announced on February 21, 2025, aims to strike a balance between enforcing the law and preserving valuable equipment for potential productive use. Speaking at the Jubilee House after a meeting with members of the Christian Council, President Mahama emphasized the importance of a balanced approach. “I’ve told them not to burn the excavators. They should confiscate them,” he stated, highlighting the need to protect the environment without unnecessary destruction of assets. The President painted a grim picture of the devastating impact of galamsey on Ghana’s environment, revealing that 44 out of the country’s 288 forest reserves have been severely affected by illegal mining activities. Nine of these reserves have been completely overrun, rendering access by Forestry Commission officials impossible. To address these challenges, the government has initiated operations to reclaim and protect affected areas. Recent efforts in the Tano Nimri Forest Reserve led to the seizure of excavators and other mining equipment. President Mahama’s directive to confiscate rather than destroy such machinery reflects a commitment to responsible resource management and environmental stewardship. The President also acknowledged the economic dimensions of small-scale mining, noting that approximately 1.8 million Ghanaians are engaged in the sector. While recognizing its role in livelihoods, he stressed the necessity of conducting mining activities responsibly to prevent environmental destruction. As the government continues to grapple with the complex issue of galamsey, President Mahama’s directive marks a significant shift in strategy. By confiscating excavators rather than destroying them, the government aims to preserve valuable equipment while maintaining a firm stance against environmental degradation. Source: Apexnewsgh.com
Explosive Findings: Mech Resources’ Questionable Gold Mining Lease Acquisition
Bright Simons, Vice President of IMANI Africa, has uncovered shocking details surrounding Mech Resources’ acquisition of a multi-million-dollar gold mining lease. Apexnewsgh reports The company, owned by the children of former Chief of Staff Frema Opare, allegedly obtained the lease under dubious circumstances, with the Minerals Commission fast-tracking the process despite glaring discrepancies. According to Simons, Mech Resources had no prior experience in mining or related industries, yet was not required to provide evidence of skilled mining personnel or demonstrate financial capability to fund the $25.8 million initial investment. Instead, the company submitted basic financial projections and a general outline of its plans, which was deemed sufficient for a lease covering 9,000 acres of gold-rich land valued at approximately $1.38 billion. Red Flags Raised Simons pointed out several red flags, including Mech Resources’ failure to hire a professional accountant to prepare its financial projections. The application allegedly contained weak discount factoring, poor sensitivity analysis, and a failure to account for the impact of royalties. Furthermore, the company did not disclose which specific water bodies would be affected by its mining activities, despite requests from examining officers. Conflict of Interest Concerns Simons also raised concerns about Maata Osei Opare, a key figure in Mech Resources, who serves as the Head of Legal at Fidelity Bank and sits on the board of the Electricity Company of Ghana (ECG). Simons believes that Fidelity Bank’s previous lawsuit against him was aimed at blocking further scrutiny into deals between the bank and ECG. Fast-Tracked Approval and Wider Implications The lease recommendation was reportedly ready within six weeks, despite the numerous discrepancies. Simons suspects that this case is not isolated, as four additional gold mining leases linked to the same family have also been fast-tracked. In total, they have applied for 23 mining and prospecting licenses, with five already granted. Simons accused the Minerals Commission of enabling politically connected individuals to sidestep mining regulations, highlighting the need for greater transparency and accountability in the industry. Read Bright Simons’ post on X below:
Forestry Commission Cracks Down on Illegal Mining in Atewa Forest
Forestry Commission has decommissioned mining activities in portions of the forest by burning four excavators at Obuohu Fante in the Ayensuano districts of the Eastern Region. Apexnewsgh reports The commission believes that miners, who initially operated on the fringes of the forest, have gradually expanded their operations into the protected area. Environmental NGO, A Rocha Ghana, has thrown its weight behind the Forestry Commission’s actions. Team Lead Daryl Bosu took to Facebook to justify the commission’s move, stating that illegal miners often start on the outskirts of forests and then expand their operations, emboldened by impunity. Bosu applauded the Forestry Commission’s zero-tolerance approach to illegal mining, reaffirming A Rocha Ghana’s commitment to supporting their efforts. However, the burning of the excavators has sparked tension in Obuohu Fante, with local residents suspecting forestry officials and demanding answers. The incident highlights the complex and often contentious issue of illegal mining in Ghana’s protected areas. The Atewa Forest is a vital ecosystem that provides water, climate regulation, and community well-being. The Forestry Commission’s actions aim to safeguard the forest’s integrity, but it remains to be seen how the situation will unfold in Obuohu Fante. Source: Apexnewsgh.com
EPA Vows to Arrest and Prosecute Illegal Miners
Professor Nana Ama Browne Klutse, the Acting Chief Executive Officer of the Environmental Protection Authority (EPA), has issued a stern warning to individuals and entities engaging in illegal mining activities within and around Ghana’s water bodies. Apexnewsgh reports In an exclusive interview, Prof. Klutse emphasized that mining around water bodies is strictly prohibited and that her outfit will arrest and prosecute anyone found violating this law. The EPA’s concerns stem from the alarming increase in mining activities within and around water bodies across the country, which poses significant risks to the environment, public health, and Ghana’s natural resources. Prof. Klutse stressed that all mining activities must comply with Ghana’s environmental laws, including obtaining necessary permits and implementing sustainable mining practices. In a bid to enforce this directive, the EPA is collaborating with relevant authorities, including the Ministry of Environment, Science, and Technology, the Minerals Commission, the Water Resources Commission, and security agencies. Measures to be implemented include seizing equipment used in illegal mining operations, increasing surveillance and conducting regular site inspections, and prosecuting individuals and organizations found violating environmental laws. Prof. Klutse reassured the public that no one is above the law, regardless of their social status or political affiliation. She urged all Ghanaians and the media to report any illegal mining activities to the authorities or call the EPA’s hotlines at 0506699466/0506694760. Source: Apexnewsgh.com
Omane Boamah Pledges Regional Balance in Ghana Armed Forces Recruitment
Dr. Edward Omane Boamah, the Defence Minister-designate, has reaffirmed his commitment to ensuring regional balance in recruitment into the Ghana Armed Forces. Apexnewsgh reports During his vetting by the Appointment Committee on Tuesday, January 28, Dr. Omane Boamah emphasized the importance of equity and representation in the military. As a strong advocate for equity, Dr. Omane Boamah believes that the military should reflect the diversity of Ghana. He pledged to ensure that all regions are adequately represented in the Ghana Armed Forces, stating, “I will do everything in my power to ensure that no region is left behind in the recruitment process.” Dr. Omane Boamah highlighted the significance of creating an army that not only possesses the necessary skills but also represents the diverse communities it serves. He noted that balanced recruitment across regions would foster unity, cohesion, and national integration, making every part of the country feel invested in national security. With his commitment to regional balance and equity, Dr. Omane Boamah aims to strengthen the Ghana Armed Forces and promote a sense of inclusivity and national unity. Source: Apexnewsgh.com
Ghana Takes Steps to Regulate Small-Scale Gold Mining
In a bid to formalize and regulate Ghana’s small-scale gold mining sector, Finance Minister Dr. Cassiel Ato Forson has inaugurated a Technical Committee to draft a legal framework for the establishment of the Ghana Gold Board (GoldBod). Apexnewsgh reports This specialized agency will be responsible for managing and marketing gold resources from the small-scale mining sector. According to Dr. Forson, the establishment of the committee highlights the urgent need to maximize Ghana’s economic gains from its gold resources. He emphasized this during a meeting with the Management of Precious Minerals Marketing Company (PMMC) at the Ministry of Finance on January 27, 2025. The Ghana Gold Board, championed by President John Dramani Mahama, aims to revitalize the economy by tackling challenges such as gold smuggling, fragmented gold purchasing systems, and limited foreign exchange accumulation. Dr. Forson, a renowned economist and chartered accountant, was appointed as Ghana’s Finance Minister on January 9, 2025. His expertise in fiscal management and economic reforms is expected to play a crucial role in shaping Ghana’s economic future. The establishment of the GoldBod is also expected to help stabilize Ghana’s currency, the cedi, in the long run. With the Technical Committee in place, Ghana is taking a significant step towards regulating its small-scale gold mining sector and unlocking its economic potential. Source: Apexnewsgh.com