Best Mining Solutions For Everyone, Get a Free Quote.

Zhengzhou, China

[email protected]

Blogs

  1. Home
  2. Crushing Plant
  3. gold mining regulations in ghaha

gold mining regulations in ghaha

Crushing Plant

Crushing Plant

The combination crusher is a new generation high efficiency crushing machine designed and researched by integrating the domestic and foreign crusher technology with the same kinds and optimizing the main technical parameters.
[email protected]
Sent Message Chat Online

We Provide You The Highest Quality Mining Machine That Meets Your Expectation.

Need A High Quality Mining Machine For Your Project?

Contact With Us

You May Also Like

exporting gold from ghana; the need for due diligence

Ghana is endowed with abundant natural resources, which have played a key role in the development efforts of the country. Ghana has a long history of mining, especially for gold. Gold is a precious metal of high monetary value, sought after for the production of coins, jewellery, and other artefacts. It is a fact, evidence by records over the years, that gold is a major foreign exchange earner for Ghana's socio-economic development

Over the years, Ghana's stable economy and abundance of natural resources, especially gold, have attracted many foreign entities and or individuals to develop strategic business partnerships with local Ghanaian companies for the export of these resources. A lot of these individuals have been cheated of their hard-earned resources by unscrupulous entities masquerading as licensed gold buying companies by regulators when in fact they have no such license. This article is therefore intended to throw light on the procedures and legislative framework established for the sale and export of gold from Ghana

It is important, following the above warning for foreigners, be it private individuals and incorporated companies seeking to engage in gold purchase and export in Ghana to understand that this is a regulated industry. It is governed by laws with established institutions mandated to ensure compliance. These institutions include the Minerals Commission (MC) of Ghana and the Precious Mineral Marketing Company (PMMC), among others

exporting gold from ghana; the need for due diligence

There is, therefore, the need for individuals and companies (foreigners) to undertake due diligence before undertaking to engage a local Ghanaian entity or an individual for the purchase and export of gold. It is not only advisable to undertake due diligence on the local entities and individuals in Ghana, but it is imperative to avoid being scammed by unlicensed entities

Precious Minerals Marketing Company (PMMC) Ltd was established in 1963 as Ghana Diamond Marketing Board charged with the sole responsibility for the purchase and marketing of Ghana's diamonds. In 1965, by Legislative Instrument (LI) 401, the Company was incorporated as a State-Owned Enterprise (SOE). With the promulgation of the Diamonds Decree (NRCD 32) in 1972, the Legislative Instrument (L.I 916) was enacted to change the company's name to Diamond Marketing Corporation. However, in 1989, Precious Mineral Marketing Corporation Law (PNDC Law 219) was enacted to yet again change the Company's name to the Precious Minerals Marketing Corporation with the following functions

ghana's illegal galamsey gold mining affecting cocoa

Obuasi, GhanaKwaku Asare grabbed his machete and trekked through the bush to his cocoa farm—through winding pathways and hills, past ominous pits of muddy water, and underneath the low-hanging canopy of dried cocoa leaves. But the trees were bare. A few rotting cocoa pods littered the ground, while other stunted pods refused to ripen on the branches

“When the Chinese came, they told me that my plants were not yielding anymore because there was so much gold under the soil,” Asare said. After a few years of low production, he sold his 14 acres to a group of small-scale gold miners, also called galamsey miners, with a Chinese sponsor. The money is gone now and Asare’s land is poisoned

Kwaku Asare’s story is not uncommon in Denkyira Asikuma, a small farming village nestled amongst cocoa plantations outside of Dunkwa in Ghana’s Central region. At least 30 cocoa farmers in the village have sold their land to miners who quickly excavated, pumped in water and chemicals, and abandoned their pits when the work was done or when soldiers chased them away

Gold mining has always been a part of Ghana, from the ornate jewelry of the Ashanti kings to British colonization. In the last several years, however, largely unregulated galamsey mining has ramped up—due in part to Chinese investors who bring sophisticated equipment and a lagging economy that makes the prospect of striking gold too sweet to pass. These often illegal operations can result in contaminated water, deforestation, and a rise in violent crime. (Learn more about the real price of gold.)

ghana's illegal galamsey gold mining affecting cocoa

Illegal gold mining in Ghana further exacerbates a volatile cocoa market. In 2014, experts predicted a global cocoa shortage by 2020. However, cocoa production statistics have been unpredictable since then, according to the most recent data from the 2015-16 growing season. That year, there was a cocoa surplus, attributed to a prolonged rainy season. Recently, the price of the bean has plummeted to historic lows on global commodity exchanges—negatively impacting the profits of West African cocoa farmers

In 2011, Ghana produced a record-setting amount of cocoa, weighing in at over one million tonnes. Since then, as illegal mining steadily ramped up, cocoa production has trended downwards, with a drop to 740,000 tonnes in 2015

minerals and mining policy of ghana

Obuasi, GhanaKwaku Asare grabbed his machete and trekked through the bush to his cocoa farm—through winding pathways and hills, past ominous pits of muddy water, and underneath the low-hanging canopy of dried cocoa leaves. But the trees were bare. A few rotting cocoa pods littered the ground, while other stunted pods refused to ripen on the branches

“When the Chinese came, they told me that my plants were not yielding anymore because there was so much gold under the soil,” Asare said. After a few years of low production, he sold his 14 acres to a group of small-scale gold miners, also called galamsey miners, with a Chinese sponsor. The money is gone now and Asare’s land is poisoned

Kwaku Asare’s story is not uncommon in Denkyira Asikuma, a small farming village nestled amongst cocoa plantations outside of Dunkwa in Ghana’s Central region. At least 30 cocoa farmers in the village have sold their land to miners who quickly excavated, pumped in water and chemicals, and abandoned their pits when the work was done or when soldiers chased them away

Gold mining has always been a part of Ghana, from the ornate jewelry of the Ashanti kings to British colonization. In the last several years, however, largely unregulated galamsey mining has ramped up—due in part to Chinese investors who bring sophisticated equipment and a lagging economy that makes the prospect of striking gold too sweet to pass. These often illegal operations can result in contaminated water, deforestation, and a rise in violent crime. (Learn more about the real price of gold.)

minerals and mining policy of ghana

Illegal gold mining in Ghana further exacerbates a volatile cocoa market. In 2014, experts predicted a global cocoa shortage by 2020. However, cocoa production statistics have been unpredictable since then, according to the most recent data from the 2015-16 growing season. That year, there was a cocoa surplus, attributed to a prolonged rainy season. Recently, the price of the bean has plummeted to historic lows on global commodity exchanges—negatively impacting the profits of West African cocoa farmers

In 2011, Ghana produced a record-setting amount of cocoa, weighing in at over one million tonnes. Since then, as illegal mining steadily ramped up, cocoa production has trended downwards, with a drop to 740,000 tonnes in 2015

procedure for export of gold by licensed ... - accra, ghana

It is advisable for a foreign entity, be it an individual or corporate body seeking to set up a wholly-owned or subsidiary mineral purchasing and export company in Ghana to have access to legal representation for timely advice and compliance with the above directives. The legal representative must a lawyer with in-depth knowledge and workings of mineral and mining laws of Ghana

Mr David Yaw Danquah is the founder and Managing Partner of Legalstone Solicitors LLP, a boutique law firm in Ghana with a concentration on Corporate and Commercial, Mining and Infrastructure, Debt Recovery and Restructuring, Real Estate and Construction Law, and Commercial Arbitration. 

David has advised on numerous investment and mining-related transactions. He also has assisted countless international entities in establishing their operations in Ghana, and through his firms, offers support services to those entities. He has an impeccable record of providing technical savvy and exceptional client services.

David is a graduate of Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, where he received his Bachelor’s Degree in Law (LL. B) and the Ghana School of Law, where he studied and received a Post Graduate Qualifying Certificate in Law (PQCL). He holds a Certificate in Negotiation Mastery from Harvard University. Presently, he is pursuing an LL.M Degree in International Dispute Resolution at the prestigious Queen Mary University of London, United Kingdom.   

procedure for export of gold by licensed ... - accra, ghana

The contents of this publication, current at the date of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your particular circumstances should always be sought separately before taking any action based on this publication.

My client’f father had a business in Accra turning gold into bullion and cutting diamonds for foreign markets. He died and he left a will giving all of his assets to his only relative, his daughter. She wishes to bring the gold and diamonds to the U.S.A. Her father had a lawyer who is helping her to achieve that goal. I am the daughter’s U.S.A. lawyer, Would you be willing to look over what is being proposed and provide me with your opinion as to the appropriateness of the proposal and the total cost of exportation? Of course anything you tell me is between you and me. We simply need a second opinion. I have some documentation I can provide you, but I am unsure that I have everything. John W. Poulos, Professor of Law, University of California at Davis, California. I am also a member of the State Bar of California. Thank you so much, John

Recent Posts