Akufo-Addo to double royalties for mining communities

Business News of Thursday, 26 January 2017

Source: classfmonline.com


Mining SiteFile Photo

President Nana Akufo-Addo has resolved to double royalties paid to mining communities, Lands and Natural Resources Minister-designate John Peter Amewu has announced.

Inaugurating the Resettlement Project at the Edikan Mine in Ayanfuri, Mr Amewu told the gathering that “with regard to mining royalties, the policy of President Nana Addo Dankwa Akufo-Addo is to ensure that the mining community receives a higher share.”

Currently 80% of mining royalties go to the government, 10% to the Minerals Commission and 10% to the mining communities.

However, “under the new presidency of Nana Akufo-Addo, we will reduce the government’s share to 70% while doubling the community’s share to 20%,” Mr Amewu said.

“The additional 10% to the communities will be given to the District Assemblies to be used specifically for developing infrastructure in the mining communities. This will ensure that more value is retained in the mining communities,” he explained.