Ghana gold miners say welcome new government export tests

Galiano Gold

30/05/2018 22:00

By Kwasi Kpodo
    ACCRA, May 30 (Reuters) - Gold mining giants in Ghana such
as Newmont  NEM.N , Gold Fields  GFIJ.J  and AngloGold Ashanti
 ANGJ.J  welcome new government tests to certify the value of
their exports, the main industry association said on Wednesday.
    The tests that come in addition to customs checks and
internal company tests are part of an attempt by President Nana
Akufo-Addo's government to tighten control of the sector and tax
it appropriately.
    Ghana is Africa's second biggest gold producer after South
Africa and the metal is the country's top export and its leading
earner of foreign exchange. 
    The government said in February it had begun talks to revive
a law mandating the Precious Minerals Marketing Company (PMMC)
to certify all exports by mining firms.  urn:newsml:reuters.com:*:nL8N1QH6EX
    Since then the Chamber of Mines has worked with the PMMC to
implement the directive, said chamber president Kwame
Addo-Kufuor, who is also chief financial officer at Newmont
Ghana.
    "This is a directive that we welcome  ... We believe it will
help improve trust amongst stakeholders in the industry,"
Addo-Kufuor told a meeting of mining and power businesses in the
capital.
    "PMMC officials now have permanent access to our gold rooms
during gold pours for a first-hand view of the processes, and to
take assay samples for analysis and comparison and participate
in pre-shipment sealing and processes," he said.
    Ghana earned $5.78 billion from exports of the metal last
year, up 17.6 percent on 2016, central bank data showed.
    Akufo-Addo, who took office last year, has said about $5
billion worth of revenues from gold exports to the United Arab
Emirates are unaccounted for.
    Industry watchers say the unreported shipments represent
smuggled gold produced by artisanal miners from Ghana and
neighbouring countries.
    The government has yet to lift a ban on small-scale mining
as part of a general clamp-down on illegal miners last year.

 (Editing by Matthew Mpoke Bigg)
 ((kwasi.kpodo@thomsonreuters.com; +233244696990; Reuters
Messaging: Kwasi.Kpodo.thomsonreuters.com@reuters.net))