- The Ghana Chamber of Mines (GCM) has requested that mineral exploration companies be exempted from paying VAT on drilling and assaying.
- The government is seriously considering this request and discussed it during a meeting of the Economic Management Team.
- The Minister of Lands and Natural Resources, Samuel A. Jinapor, assured that the issue of VAT on exploration will be addressed by the end of the first quarter of this year.
- The government aims to position Ghana as the hub of mining in Africa and maintain its position as the leading gold producer on the continent.
- The GCM has commended the government for its Gold for Oil Policy, which has helped stabilize the Cedi.
- The total gold production of GCM member companies is expected to approach 3.1 million ounces in 2023, similar to the output level in 2022.
- The GCM has urged the government to address insecurity at mining companies and the delay in approving mining exploration agreements.
- The GCM plans to organize an annual dialogue with the Minister of Lands and Natural Resources.
Source: ghanaiantimes.com.gh
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
