Akwatia MP reports company for poor performance to Parliament

Business News of Wednesday, 20 December 2017

Source: GNA

2017-12-20

Mercy Adu-Gyamfi, MP for Akwatia Constituency

Member of Parliament for Akwatia Constituency on Tuesday expressed concerns about poor performance and failed promises of the Ghana Consolidated Diamond Limited (GCDGL) situated in her constituency.

She urged the Government to take back the mine and give it to a new investor.

“Mr Speaker, it is now clear that the company does not have the intention or capability of doing any mining,” Ms Adu-Gyamfi said.

In her maiden statement on the floor of Parliament, the Legislator recalled that the GCDGL took over the company in 2011, with a promise to invest $100 million in a five year period and was expected to produce one million carats of diamond every year within the period.

It also promised to create 2,500 direct jobs and 50,000 indirect jobs for support services

“The GCDGL then said it intended to establish integrated diamond mining and processing industry with the main objective of turning around the fortunes of the mine,” with a further to bring a turnaround strategy plan that will lift the company by bringing on board a management team and consultants with lot of expertise in mining, business development, finance and community development,” Ms adu-Gyamfi said.

However, the “new company, has since its beginning done no mining.

“Its interest has only been to putting together parts of plant machinery and selling them as scraps”.

She added: “Since they have also failed to live up to their financial obligations in taking over the mine, I think it is time to live up to their financial obligations in taking the mine, I think it is time for them to hand over the mine to Government for a more serious investor to come in.”

According Mrs Adu-Gyamfi, the company has so far been involved in selling sand and stone piled up all over the place.

The Legislator said the chiefs and people of the Constituency wished strongly that “another group will take the mine to bring better benefits to improve upon the quality of their lives”.

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