The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has disclosed that the protracted dispute between Azumah Resources and Engineers & Planners (E&P) is close to being resolved, following direct ministerial intervention over a five-year mining lease.
Speaking at the Government Accountability Series at the Jubilee House on Wednesday, July 23, Mr Buah said a formal letter issued by his office had facilitated meaningful engagement between the two firms, leading to significant progress toward a conclusive settlement.
“I am happy to inform you that after that letter, these two companies have really made progress. In fact, I’ve received the letter from Azumah Resources informing me that they will reach a very conclusive agreement with E&P, and that should tell you that that letter has impacted,” he stated.
The disagreement had stalled the development of a valuable mineral resource in which the government of Ghana holds a 10% carried interest.
Mr Buah emphasised the national implications of the delay: “Ghana is a shareholder in that enterprise, we have 10% in that enterprise. Any delay in continuing the exploitation of that resource affects the people of Ghana directly, in terms of revenue, taxes, and empowering the people in those areas.”
He also reaffirmed the critical role of the Minerals Development Fund (MDF) in supporting local development in mining communities.
According to him, 20% of all mineral revenue allocations are channelled through the MDF to improve lives in mining-affected districts.
“The MDF is an institution whose mandate is to supervise the allocation of mineral funds to the mining districts in the country, and they have 20% after the distribution, and that 20% is basically to enrich the lives of people in these mining areas,” he added.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
