Ayisi: Government won’t approve sale of Newmont Akyem mine without strong local participation

Government will not approve the sale of the Newmont Akyem mine if the new investors do not have strong local participation, the chief executive officer of the Minerals Commission has said.

His comment is in reference to a statement by the chief operating officer of Newmont Corporation Karyn Ovelmen on Tuesday that the process to sell its s Akyem mine in Ghana is in advance stages.

The process to sell a handful of gold mines in Canada and the US is in its “second stage,” in which the company is undergoing due diligence with interested parties, added Ovelmen.

Newmont Corp, the world’s biggest gold miner, said it’s on track to raise US$2 billion — if not more — from selling smaller mines and development projects.

Reacting to the development on the Asaase Breakfast Show on Friday (20 September), Ayisi said government was categorical about the local content factor when Newmont announced the decision to sell the mine.

”The minister was very categorical. It, it was followed by a letter strongly to new one and it says that any or anybody who acquired the mind, we will not approve or government will not approve it unless it has a strong local participation.

”So that caveat is already out there so even granted that some other companies don’t get and some other companies get it.  We will still invoke that local content or local participation rule which was made clear.”

” Right from day one that whoever we don’t care who you sell to but as government that has to approve it, finally, this is what we want, we want some strong local participation,” Ayisi said.

Listen to Martin Ayisi in the attached audio clip below: 

Watch the full interview in the attached video clip below:

Reporting by Fred Dzakpata in Accra

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