Ghana Manganese Company shut down; government loses US$300m

Ghana Manganese Company shut down; government loses US$300m

- Ghana Manganese Company Limited (GMCL) has temporarily been shutdown

- The temporary closure was as a result of a preliminary technical and financial assessment conducted by government

- The sector minister said the ministry would begin talks with the Minerals Commission and other relevant stakeholders to discuss with the management of GMCL how to resolve the issues and retrieve the monies

The Minister of Lands and Natural Resources, Kweku Asamoah-Cheremeh, has disclosed that the Ghana Manganese Company Limited (GMCL) would temporarily be shutdown.

Effective, August 6, 2019, the minister explained that the temporary closure was as a result of a preliminary technical and financial assessment conducted by government.

Speaking at a media briefing the minister stated that the assessment revealed that government had lost over US$300 million.

READ ALSO: Meet the 16 gorgeous finalists for the 2019 Ghana's Most Beautiful pageant (photos)

Asamoah-Cheremeh said the ministry would begin talks with the Minerals Commission and other relevant stakeholders to discuss with the management of GMCL how to resolve the issues and retrieve the monies.

He said aside holding discussions with the company to pay the monies, government had other alternatives like taking legal action against the company or sell the assets to defray the debt.

Mr Asamoah-Cheremeh said an exclusivity agreement allegedly appointed Manganese Trading Limited (MTL) as the sole off-taker of the total volume of the manganese produced by GMCL.

READ ALSO: Mahama makes big promise to the people of Ada; promises to continue sea defense project

In other news, about 3,000 Ghanaian nurses are set to be sent to Germany through the National Youth Employment Agency’s (YEA) ‘Working Abroad’ project.

The CEO of the National Youth Agency, Justin Kodua Frimpong, made the disclosure in Accra.

He noted that Ghana will be exporting local human resource to countries that have high demand and have made requests for assistance.

READ ALSO: 3,000 nurses assigned to Germany for yet-to-be launched ‘Working Abroad’ project

Faces of Ghana: Meet the Innovative CEO of Salon on Wheels | #Yencomgh:

Subscribe to watch new videos

Have national and human interest issues to discuss?

Know someone who is extremely talented and needs recognition?

Your stories and photos are always welcome.Get interactive via our Facebook page.

Source: Yen Ghana

Mailfire view pixel