Minerals Development Fund: Chamber of mines calls for regular payments by GRA, others
Speaking at a development partnership symposium in Accra, the Chief Executive Officer of the Chamber, Sulemanu Koney bemoaned the delay of payment of such funds into the MDF describing the situation as unhealthy.
The Ghana Chamber of Mines wants the Ghana Revenue Authority and other relevant bodies to ensure the regular and prompt payments of royalties and other funds into the Minerals Development fund (MDF).
The Mineral Development Fund (MDF) is a public fund established by Act 912, 2016. The source of this fund is 20% mineral royalties received by the GRA in the trust of the Republic and meant for the development of the mining communities.
Speaking at a development partnership symposium in Accra, the Chief Executive Officer of the Chamber, Sulemanu Koney bemoaned the delay of payment of such funds into the MDF describing the situation as unhealthy.
He, therefore, appealed to the Ministry of Finance and the Minerals Income Investment Fund (MIIF) office to make sure that the funds are promptly released.
On the benefits of the MDF, Mr. Koney mentioned that its effective implementation will deal with the harmful effects of mining on the affected communities and persons living there.
Further to the above, he said that alternative livelihood projects in the communities will be enhanced while promoting the development of the local economy.
Additionally, Mr. Koney observed that rural-urban migration will be dealt with if the MDF is fully operationalized and thus translating into the development of the mining communities.
However, the Chief Executive mentioned that the delay in the release of the funds is seriously affecting the various MMDAs making them starve and hindering their execution of various projects for their people.
On his part, the Managing Director of Anglogold Ashanti Ghana Limited, Mr. Eric Asubonteng noted that his outfit has rolled out a 10-year SEDP to prioritize the mine’s host communities in terms of their socio-economic development.
The SEDP as a long-term policy was rolled out after the Social Management Plan came to an end last year.
The symposium, among others, served as a platform for brainstorming partnership opportunities to aid the implementation of the Socio-Economic Development Plan(SEDP) of Anglogold Ashanti mine.
