President Nana Addo Dankwa Akufo-Addo has lauded the intervention of Commodity Monitor’s GoldKacha machine in the country’s quest to ensure safe and responsible mining.
The President who made the remarks at this year’s State of the Nation Address (SONA) to Parliament expressed the government’s commitment to continue the fight against illegal mining using improved technology and with the support of the security agencies.
The government, he said, was not against mining; however, it was determined to promote responsible small-scale mining through the ongoing Community Mining Schemes and use of technology.
He said 16 of the Community Schemes had been commissioned and that three more would be commissioned by the end of the year.
The President said the Community Mining Schemes were supported with the GoldKacha technology, which was equipment designed to help small-scale miners to extract gold from the ore without the use of toxic mercury.
The technology has the capacity to process sand, clay and hard rock and the modular nature of the mining machine design allows for different modules to be added to expand the plants as the need arises.
The equipment introduced by a Ghanaian trading and logistics company, Commodity Monitor Limited, allows miners to gain a return on investment as the mine expands; the facility was made to specifically remediate mercury contaminated degraded lands, and recover significant quantities of gold in the process up to about 95 per cent compared with the crude method that allows miners to get just about 35 per cent of their gold.
The technology helps artisanal and small-scale miners to achieve three basic goals: (1) high tonnes per hour processing (2) no mercury use and (3) high gold recovery.
When contacted, the Chief Executive of the Commodity Monitor, Mr Stephen Yeboah, expressed his readiness to make the equipment available which follows a well-structured acquisition process.
“We at the Community Monitor are of the view that in our fight to bolster illegal mining, which has become a national canker and raised serious concerns about pollution of rivers in mining areas, we need to apply technology, to promote sustainable mining,” he said.
He said with a new mineral processing technology introduced by a Ghanaian company “Our technology ensures a cleaner gold mining and extraction process that prevents the use of mercury and tailings being directed off into water-bodies and mounting machinery, such as Changfas, in the rivers,” Mr Yeboah said.
The GoldKacha he mentioned cannot be mounted on river bodies, uses less water, “in addition to that we provide all the accessories the small scale needs to ensure that it is done well.
He further, explained that the mining plants are supplied as fully comprehensive modular solutions from ore through gold ore or bagged mineral concentrates, as appropriate, without using toxic mercury.
“The machines improve the operations of miners in terms of high productivity and ensure superior gold recovery,” the CEO said.
Mr Yeboah said the company is happy partnering with the government through various sector agencies to ensure responsible and environmentally acceptable mining activities.
We’ll ensure there are enough funds for 2023/2024 cocoa purchasing season – COCOBOD
COCOBOD has assured that concrete steps have been taken to ensure it is able to secure enough funds to finance its annual cocoa purchases in the 2023/2024 crop season.
Against the backdrop of a reportage by Reuters that the firm had borrowed up to $200 million from cocoa traders to plug its funding gap, COCOBOD said it had adopted a two-prong financing strategy to ensure that it obtained the required funds for the purchasing season.
A statement from COCOBOD in response to the Reuters report indicated that it had had firm assurances from its bankers of making funds available in time for the purchasing season and that a “Cocoa syndicated Loan has been laid in Parliament for consideration and approval.”
Below is COCOBOD’s full statement.
FINANCING OF PURCHASES FOR 2023/24 CROP SEASON
There have been some recent publications in the news media in relation to funds for cocoa purchases for the 2023/24 Crop Season.
We wish to brief our stakeholders on this very sensitive national issue as follows:
COCOBOD planned a two-prong financing for the 2023/2024 Crop Season in an effort to diversify Its source of funding for the annual cocoa purchases.
The strategy was therefore, to use a prefinancing arrangement with the international buyers to raise an amount of US$400 million for purchases at the beginning of the Season in September 2023.
These initial funds were expected to be augmented by an additional US$800 million loan from a syndicate of lenders by the end of November 2023. After engagements with buyers for several weeks, the arrangement was however discontinued.
Thus, since the beginning of the Season, cocoa purchases have been financed with noncollateralized cocoa sales proceeds. COCOBOD is therefore still in the process of securing the syndicated loan for the 2023/24 Crop Season.
As a matter of fact, the Board has so far received firm response from our bankers in this regard, and the Cocoa syndicated Loan has been laid in Parliament for consideration and approval.
We wish to use this medium to assure our stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
ISSUED BY: PUBLIC AFFAIRS DEPARTMENT
Ghana is a good place to do business – Bawumia tells Czech investors
Vice President Dr. Mahamudu Bawumia is actively seeking Czech investors for the country.
Dr. Bawumia emphasized that Ghana remains the best country in Africa for investment due to its stability, peace, and growth opportunities for businesses.
He made these remarks during his meeting with the Czech Prime Minister, Peter Fiala, at the Jubilee House in Accra.
“Ghana is an excellent place for doing business. We are the most peaceful country in West Africa and the second most peaceful country in Africa. It is crucial for anyone looking to invest in Africa to consider Ghana as the ideal destination for business.”
“I am confident that this will open up opportunities for our respective business sectors,” he stated.
Mahama’s ’24hr Economy’ project will revolutionize Ghana – Dafeamekpor
South Dayi Member of Parliament, Rockson Nelson Dafeamekpor, has said that the ’24-hour Economy’ project conceived by the flagbearer of the National Democratic Congress (NDC) Former President John Dramani Mahama will turn the economy around if implemented.
Mr Mahama proposed the ’24hr Economy ‘ project when he met with officials of the country’s mother workers union on Tuesday, November 7, 2023 at the start of his engagement with key stakeholders in a quest to return to power.
Dubbed ‘Building Ghana Tour’, the interactions with the stakeholders is to apprise them of the policies the next NDC administration will implement to transform the economy.
At Tuesday’s engagement, he said “NDC was left alone as the solitary voice seeking to hold the government accountable and speaking up for the voiceless Ghanaian and we were often cast out as spoilt brats who were ranting just because we have lost power.
“Today, the chickens have come home to roost and we are all affected.”
Commenting on this in a tweet, Mr Dafeamekpor said “Some concrete Examples of John Mahama’s ‘24hr Economy’ Projects include Terminal 3 at Kotoka, Tema Port Container Terminal, New Ridge Hospital, Maritime Hospital, Tema, UGMC, Legon, Kejetia Market, Accra Data Centre, the TamaleTeaching Hospital. It’ll revolutionize the economy.”