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GoldBod not the same as botched Agyapa deal Sammy Gyamfi clarifies

The PMMC is a government agency responsible for promoting Ghana’s mineral resources and facilitating the export of minerals. The PMMC has been working closely with the Ghana Minerals Commission to ensure that the GOLDBOD project is carried out in a transparent and accountable manner.

  • The GOLDBOD project is a joint venture between the Ghanaian government and a private company, whereas the Agyapa deal was a single-party deal between the government and a private company.
  • The GOLDBOD project has a clear and transparent process for the allocation of mineral rights, whereas the Agyapa deal was criticized for its lack of transparency and lack of public consultation.
  • The GOLDBOD project has a clear and defined revenue-sharing model, whereas the Agyapa deal was criticized for its lack of clarity on revenue sharing. The GOLDBOD project is expected to generate significant revenue for the Ghanaian government through the export of gold and other minerals.
    Benefits of the GOLDBOD project
  • The project is expected to create jobs and stimulate economic growth in the mining sector.
  • The project is expected to increase the country’s revenue and improve its fiscal position.
  • The project is expected to promote transparency and accountability in the management of mineral resources.

    He also highlighted that the regulatory framework is in place to ensure that the gold buying and exporting activities are conducted in a transparent and accountable manner.

  • Licensing and registration of gold buying and exporting companies
  • Regular audits and inspections to ensure compliance with regulations
  • A system for tracking and monitoring gold exports
  • A mechanism for reporting and addressing any concerns or issues that may arise

    • The Unique Mandate of GoldBod

    GoldBod’s operations are unique and unparalleled in their specific mandate of gold buying and exporting. The company is responsible for purchasing gold from local miners and then exporting it to other countries.

    The Need for Regulation

    The small-scale gold mining sector in Ghana is a significant contributor to the country’s economy, but it lacks proper regulation. This lack of regulation has led to environmental degradation, health risks, and economic instability. The sector is characterized by informal mining operations, which often result in the destruction of forests, pollution of water sources, and the displacement of local communities. • The lack of regulation has also led to the proliferation of unlicensed and unregistered mining operations, which can be a major source of conflict with local communities and the government.

    Further details on this topic will be provided shortly.

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