• Latest
  • Trending
The purported sale of Akyem Gold Mine to Zijin is legally flawed and unjustified- IEA Ghana

The purported sale of Akyem Gold Mine to Zijin is legally flawed and unjustified- IEA Ghana

October 21, 2024
Speaker Bagbin addresses chaos witnessed in Parliament on Tuesday

Speaker Bagbin addresses chaos witnessed in Parliament on Tuesday

June 11, 2025
Dr. Ayew Afriyie Urges NPP Leadership to Release 2024 Election Defeat Report

Dr. Ayew Afriyie Urges NPP Leadership to Release 2024 Election Defeat Report

June 11, 2025
At least seven dead in South Africa following powerful winter storm

At least seven dead in South Africa following powerful winter storm

June 11, 2025
Government plans to regulate, train, and support scrap business - GIISDEC Deputy CEO

Government plans to regulate, train, and support scrap business – GIISDEC Deputy CEO

June 11, 2025
Retired Nurses Not the Answer – GRNMA Fires Back at Gov’t"

Retired Nurses Not the Answer – GRNMA Fires Back at Gov’t

June 11, 2025
Telcos are not to blame for high data costs - IT expert

Telcos are not to blame for high data costs – IT expert

June 11, 2025
Data bundle increase is good news - Head of Media, IP-GH

Data bundle increase is good news – Head of Media, IP-GH

June 11, 2025
MOWAG to meet NLC today, June 11 over conditions of service

MOWAG to meet NLC today, June 11 over conditions of service

June 11, 2025
President Mahama bans DSTV at Jubilee House in latest cost-cutting measure

President Mahama bans DSTV at Jubilee House in latest cost-cutting measure

June 11, 2025
GRNMA Strike: Health Ministry introduces measures to ease impact of nurses' strike

GRNMA Strike: Health Ministry introduces measures to ease impact of nurses’ strike

June 11, 2025
BECE begins in over 2,237 centres nationwide

BECE begins in over 2,237 centres nationwide

June 11, 2025
Parliament suspends sitting over Nurses’ Strike debate

Parliament suspends sitting over Nurses’ Strike debate

June 11, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News

The purported sale of Akyem Gold Mine to Zijin is legally flawed and unjustified- IEA Ghana

in News, Top Story
The purported sale of Akyem Gold Mine to Zijin is legally flawed and unjustified- IEA Ghana

The purported sale of Akyem Gold Mine to Zijin is legally flawed and unjustified- IEA Ghana

Share on FacebookShare on TwitterShare on Whatsapp

The Institute of Economic Affairs Ghana (IEA) says the purported sale of Akyem Gold Mine Projects by Newmont Ghana to China’s Zinjin Mining Group for US $ 1.0 billion is flawed.

IEA Ghana described the sale as unjustified and legally flawed and therefore not to be ratified by parliament.

In a press statement released on Monday October 21, 2024, indicated that, the project lease was signed between Ghana Government and Newmont on 19th January, 2010 and has an expiry period of 15 years, meaning, the lease is valid until 19th January, 2025.

According to the terms, the lease is transferable within the duration period, subject to mutual agreement between Government and Newmont.

The statement also noted that, the lease is subject to extension after its expiry date, by mutual agreement.

‘’The lease has not yet expired and, therefore, any decision by Newmont to sell the mine must be on a transfer basis and must be for the unexpired term only and subject to Government agreement’’.

IEA has therefore suggested two (2) fundamental proposals to help introduce sanity into the governance of Ghana’s natural resources and to reduce corruption.

The first is to amend Article 257(6) of the Constitution that vests Ghana’s natural resources in the President on behalf of, and in trust for, the people, which seems to give him a carte blanche to sign the resources away at will.
The natural resources should rather be vested in the state and every contract should require Parliamentary ratification as per Article 268(1) of the Constitution.
The second is to introduce in the Constitution or the Minerals and Mining Act, 2006 (Act 703) a provision that prohibits Government from signing contracts above a specified monetary value six months to the end of their four-year term. This will prevent incumbent administrations from signing eleventh-hour contracts in favour of their families, friends or cohorts, or for personal gain.

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

O’Reilly SHS murder: Father of the deceased vows to storm the school if justice is not served

Next Post

FDA warns against packaging and distribution of galamsey water

Next Post
FDA warns against packaging and distribution of galamsey water

FDA warns against packaging and distribution of galamsey water

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Speaker Bagbin addresses chaos witnessed in Parliament on Tuesday
  • Dr. Ayew Afriyie Urges NPP Leadership to Release 2024 Election Defeat Report
  • At least seven dead in South Africa following powerful winter storm
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.