Within the Ministry, the Minerals Commission has responsibility for administering the Mining Actrecommending mineral policypromoting mineral development, advising the government on mineral matters, and serving as a liaison between industry and the government.
The Ghana Geological Survey Department conducts geologic studies. The Precious Minerals Marketing Corporation PMMC is the government entity responsible for promoting the development of small-scale gold and diamond mining in Ghana and for purchasing the output of such mining, either directly or through licensed buyers.
All mine accidents and other safety problems also must be reported to the Ghana Chamber of Mineswhich is the private association of operating mining companies.
Under the Law, mining companies must pay royalties; companies may also pay corporate taxes at standard rates. Securities and Exchange Commission, p. Golden Star Resources Ltd.
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Companies exploring for gold in Ghana included Adamus Resources Ltd. Valco ; the remaining equity was owned by the Government. The government and Alcoa planned to restart the Valco smelter as soon as an interim power rate agreement is reached with the Volta River Authority.
The government had acquired Kaiser Aluminum Corp. Kaiser closed the Valco plant in after struggling with fluctuating operating levels for several years and dealing with restricted power allocations from the Volta River Authority. DuringAlcoa continued to study the possibility of developing an integrated aluminum industry in Ghana that would include bauxite mining, alumina refining, aluminum production, and rail transportation infrastructure upgrades.
Alcan, on the other hand, signed a Memorandum of Understanding with the government for the creation of a joint venture to explore the feasibility of developing a bauxite mine and a 1. The authorities also plan to use some of the capital from the stock sale to promote local business and to boost national reserves.
The minister of mines and energy dispelled fears that the stock sale would result in foreign ownership of the country’s gold mines by saying that the government would have final say in all major stock acquisitions. The designed capacity of the processing plant was 2. A revised resource and reserve estimate for the Chirano Mine was underway in The economic potential of the Akwaaba deposit, a high-grade deposit within the Chirano mining concession, was being evaluated inand a resource estimate of the deposit was scheduled for completion in October Satellite pits were depleted in Decemberand AngloGold Ashanti expected stockpiled ore to be depleted by January Beginning in February, the mill was to process only old tailings.
The Bibiani Mine, which had operated between and as an underground mine, was reopened in as an open pit mine with a carbon-in-leach CIL plant.
The mine included old tailings dumps, which were reclaimed in December These tailings were expected to yield about 3. The company was studying the viability of restarting production from its main pit to a depth of about 60 meters below.