Ghana begins audit of mining sector contracts as it seeks more revenue
Accra — Ghana has started an audit of its mining industry as it seeks more revenue and wants to "ensure compliance" among companies in the sector. The West African nation, Africa’s second-biggest gold producer, has appointed consultants who are scrutinising contracts, deputy finance minister Kwaku Kwarteng said in an interview. Vice-president Mahamudu Bawumia said on May 8 that Ghana was benefiting little from its mineral wealth, and needed a review of its mining code and tax policies — a move the country’s chamber of mines says has "sent jitters" through the industry. "Our objective is to see where there are gaps so we can take measures to plug them," Kwarteng said on Tuesday in the capital, Accra. "We hold the contracts and agreements sacrosanct, but we also consider that we are entitled to review agreements if situations have arisen, or things have happened that clearly make the case for a review." The country would discuss its findings with the companies to try to reach an agree...
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